Community Bank

Ottawa Bancorp, Inc. Announces Fourth Quarter and Fiscal 2023 Results

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星期四, 二月 15, 2024
Comparison, Total, Community Bank, Bank, CECL, Growth, Sale, OSB, ACL, FHLB, Current Expected Credit Losses, Result, Finance, Three Months, Environment, Face, Pressure, Cryptocurrency

OTTAWA, Ill., Feb. 15, 2024 (GLOBE NEWSWIRE) -- Ottawa Bancorp, Inc. (the “Company”) (OTCQX: OTTW), the holding company for OSB Community Bank (the “Bank”), announced net income of $0.2 million, or $0.08 per basic and diluted common share for the three months ended December 31, 2023, compared to net income of $0.5 million, or $0.22 per basic and diluted common share for the three months ended December 31, 2022. For the year ended December 31, 2023, the Company announced net income of $1.7 million, or $0.66 per basic and diluted common share, compared to net income of $2.5 million, or $0.96 per basic and diluted common share for the year ended December 31, 2022. The loan portfolio, net of allowance, increased to $312.2 million as of December 31, 2023 from $307.8 million as of December 31, 2022. Non-performing loans increased from $2.3 million at December 31, 2022 to $4.8 million at December 31, 2023, which caused the ratio of non-performing loans to gross loans to increase from 0.73% at December 31, 2022 to 1.52% at December 31, 2023.  

Key Points: 
  • The loan portfolio, net of allowance, increased to $312.2 million as of December 31, 2023 from $307.8 million as of December 31, 2022.
  • Net recoveries during the fourth quarter of 2023 were $17,298 compared to net charge offs of $566,036 during the fourth quarter of 2022.
  • Total deposits decreased $8.6 million, or 3.0%, to $281.1 million at December 31, 2023 from $289.7 million at December 31, 2022.
  • Stockholders’ equity increased $0.2 million, or 0.5% to $41.7 million at December 31, 2023 from $41.5 million at December 31, 2022.

Community Bank System, Inc. Announces Its Quarterly Dividend

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星期三, 二月 14, 2024
Finance, Banking, Professional Services, Asset Management, Insurance, Community Bank, N.A., Acquisition, Community Bank, CBU, Legislation, Security (finance), Upstate New York

Community Bank System, Inc. (NYSE: CBU) (the “Company”) announced that it has declared a quarterly cash dividend of $0.45 per share on its common stock.

Key Points: 
  • Community Bank System, Inc. (NYSE: CBU) (the “Company”) announced that it has declared a quarterly cash dividend of $0.45 per share on its common stock.
  • The $0.45 cash dividend represents an annualized yield of 4.16% based on the closing share price of $43.25 on February 13, 2024.
  • Community Bank System, Inc. is a diversified financial services company with total assets of $15.6 billion focused on four main business lines – banking, benefits administration, insurance services and wealth management.
  • Community Bank System, Inc. is listed on the New York Stock Exchange and the Company’s stock trades under the symbol CBU.

Greater Commercial Lending Completes $25 Million in Financing for Copper Mining Company in Utah

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星期三, 二月 14, 2024
Wind, GCL, Copper, Community Bank, Business, USDA, Organization, Mining, Renewable energy

RENO, Nev., Feb. 14, 2024 /PRNewswire/ -- Greater Commercial Lending (GCL), which provides government-guaranteed loans to businesses and organizations in under-served and rural communities, has completed $25 million in financing for Lisbon Valley Mining Co., which mines copper within La Sal, in Utah's Lisbon Valley, an extensive mineral district for copper and other resources.

Key Points: 
  • The loan will be used to strengthen copper mine production by allocating funds towards working capital and procurement of heavy equipment, as well as refinancing existing debt.
  • "We are pleased to support Lisbon Valley Mining Co. in their mission to expand and enhance copper mining operations," said Jeremy Gilpin, president of GCL.
  • "This financing signifies our commitment to fostering economic growth in under-served communities while contributing to essential industries crucial for a sustainable future."
  • The project is expected to generate approximately 90 new job opportunities, along with the preservation of 101 existing jobs.

Central Valley Community Bancorp and Community West Bancshares Announce Receipt of Shareholder Approval for Merger

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星期五, 二月 9, 2024
Banking, Professional Services, Finance, Organization, History, Community West Bancshares, Community Bank, CWB

Central Valley Community Bancorp (Central Valley), (NASDAQ: CVCY), headquartered in Fresno, California, together with its banking subsidiary, Central Valley Community Bank (CVCB) and Community West Bancshares (Community West), (NASDAQ: CWBC), parent company of Community West Bank (CWB), headquartered in Goleta, California, announced today that shareholders of both companies approved the merger of Community West with and into Central Valley, with Central Valley as the resulting company, and Community West Bank with and into Central Valley Community Bank at special meetings held on February 8, 2024.

Key Points: 
  • Central Valley Community Bancorp (Central Valley), (NASDAQ: CVCY), headquartered in Fresno, California, together with its banking subsidiary, Central Valley Community Bank (CVCB) and Community West Bancshares (Community West), (NASDAQ: CWBC), parent company of Community West Bank (CWB), headquartered in Goleta, California, announced today that shareholders of both companies approved the merger of Community West with and into Central Valley, with Central Valley as the resulting company, and Community West Bank with and into Central Valley Community Bank at special meetings held on February 8, 2024.
  • Following the closing of the merger, the resulting company will assume the name Community West Bancshares, and Central Valley Community Bank will assume the name Community West Bank to reflect the expanded territory of the combined company.
  • “Shareholder approval from both banks confirms their confidence in the merger and brings us one step closer to uniting our two great organizations,” stated James J. Kim, President and CEO of Central Valley Community Bancorp and Central Valley Community Bank.
  • The shared values, corporate cultures and impressive history of both banks will bring greater opportunity to shareholders, clients, employees and the community,” stated Martin E. Plourd, CEO and Director of Community West Bancshares and Community West Bank.

OTTAWA BANCORP, INC. ANNOUNCES DATE OF 2024 ANNUAL MEETING OF SHAREHOLDERS

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星期一, 二月 5, 2024
OSB, OTCQX, Community Bank

Ottawa, Ill., Feb. 05, 2024 (GLOBE NEWSWIRE) -- Ottawa Bancorp, Inc. (OTCQX: OTTW), the holding company for OSB Community Bank, today announced that its annual meeting of shareholders will be held on Wednesday, May 15, 2024.

Key Points: 

Ottawa, Ill., Feb. 05, 2024 (GLOBE NEWSWIRE) -- Ottawa Bancorp, Inc. (OTCQX: OTTW), the holding company for OSB Community Bank, today announced that its annual meeting of shareholders will be held on Wednesday, May 15, 2024.

Bay Community Bancorp Earns $1.31 Million in Fourth Quarter 2023 and a Record $8.23 Million for the Year; Declares Quarterly Cash Dividend of $0.05 Per Share

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星期一, 二月 5, 2024
Federal, ECIP, Growth, ERP, Community Bank, CECL, FDIC, BEA, Common equity, Compact disc, DDA, Investment, Current Expected Credit Losses, Environmental protection, NOW, Bank, Community development financial institution, Share repurchase, Video game

For the year 2023, net income increased 2.1% to a record $8.23 million, compared to $8.06 million in 2022.

Key Points: 
  • For the year 2023, net income increased 2.1% to a record $8.23 million, compared to $8.06 million in 2022.
  • This marks the twelfth consecutive cash dividend payment since the Company initiated quarterly cash dividends on April 30, 2021.
  • Pre-tax, pre-provision, pre-CDFI grant income was $1.59 million in the fourth quarter of 2023, compared to $3.39 million in the year ago quarter, and $1.99 million in the third quarter of 2023.
  • Noninterest expense was $6.84 million in the fourth quarter of 2023, compared to $5.48 million in the fourth quarter of 2022, and $6.46 million in the third quarter of 2023.

Jason Wingo Joins Coastal Community Bank as Head of BSA/AML Strategy and Solution Management

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星期五, 二月 2, 2024
Business administration, Webster University, Bachelor of Science, Growth, Senior, Community Bank, BSA, CAMS, AML, CCB, Truist Financial, Lumen Technologies, Master of Business Administration, A. G. Edwards, EVP, SVP, Data analysis, University, Bank, LLP

EVERETT, Wash., Feb. 02, 2024 (GLOBE NEWSWIRE) -- Coastal Financial Corporation (Nasdaq: CCB), the bank holding company for Coastal Community Bank, announced that Jason Wingo has joined the Bank as Senior Vice President, Head of Bank Security Act (BSA) and Anti-Money Laundering (AML) Strategy and Solution Management.

Key Points: 
  • EVERETT, Wash., Feb. 02, 2024 (GLOBE NEWSWIRE) -- Coastal Financial Corporation (Nasdaq: CCB), the bank holding company for Coastal Community Bank, announced that Jason Wingo has joined the Bank as Senior Vice President, Head of Bank Security Act (BSA) and Anti-Money Laundering (AML) Strategy and Solution Management.
  • Mr Wingo is a seasoned IT leader with more than 20 years of experience in multiple platforms, including web-based, client-server, and mainframe.
  • He has extensive experience in requirement gathering, data analysis, development, testing, implementation, and deep expertise in AML, trading compliance, and project management.
  • Wingo received his Bachelor of Science from the University of Missouri and Master of Business Administration from Webster University.

NorthEast Community Bancorp, Inc. Reports Results for the Fourth Quarter and Year Ended December 31, 2023

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星期四, 二月 1, 2024
Federal, Community Bank, CECL, FHLB, Environment, Tax, Compass (drawing tool), Investment, Federal Reserve Bank, Depreciation, Atlantic Ocean, Sale, Death, Bank, Advertising, Insurance, Federal Home Loan Banks

Total assets increased by $339.2 million, or 23.8%, to $1.8 billion at December 31, 2023, from $1.4 billion at December 31, 2022.

Key Points: 
  • Total assets increased by $339.2 million, or 23.8%, to $1.8 billion at December 31, 2023, from $1.4 billion at December 31, 2022.
  • Net interest income totaled $25.2 million for the three months ended December 31, 2023, as compared to $20.9 million for the three months ended December 31, 2022.
  • We charged-off $312,000 during the year ended December 31, 2023 as compared to charge-offs of $449,000 during the year ended December 31, 2022.
  • The unrealized gain of $621,000 on equity securities during the three months ended December 31, 2023 was due to market interest rate volatility during the quarter ended December 31, 2023.

First Keystone Announces Fourth Quarter 2023 Earnings (Unaudited)

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星期三, 一月 31, 2024
Banking, Professional Services, Finance, Security (finance), Growth, SBA, OTC Markets Group, FKYS, Community Bank, Federal funds, Income tax, Fraud, Paycheck Protection Program, Disclosure, Trust, Current Expected Credit Losses, Asset, Dain Rauscher Wessels, Bank, Corporation, Tradition, ATM, Bank statement, Federal Home Loan Banks

First Keystone Corporation (OTC Pink: FKYS), parent company of First Keystone Community Bank, reported net income of $5,560,000 for the year ended December 31, 2023.

Key Points: 
  • First Keystone Corporation (OTC Pink: FKYS), parent company of First Keystone Community Bank, reported net income of $5,560,000 for the year ended December 31, 2023.
  • Net income per share was $0.91 while dividends totaled $1.12 per share for the year ended December 31, 2023.
  • The net effect of the derivative on net interest income was $443,000 for the year ended December 31, 2023.
  • For more information on First Keystone Community Bank or its parent company, First Keystone Corporation, please contact Elaine A. Woodland at 570-752-3671.

BCB Bancorp, Inc. Earns $6.1 Million in Fourth Quarter 2023; Reports $0.35 EPS and Declares Quarterly Cash Dividend of $0.16 Per Share

Retrieved on: 
星期四, 一月 25, 2024
Family, BCB, Total, BCBP, Bank, FHLB, Environment, Federal Home Loan Banks, Community Bank, MSB, Growth, Video game

Earnings per diluted share for the fourth quarter of 2023 were $0.35, compared to $0.39 in the preceding quarter and $0.69 in the fourth quarter of 2022.

Key Points: 
  • Earnings per diluted share for the fourth quarter of 2023 were $0.35, compared to $0.39 in the preceding quarter and $0.69 in the fourth quarter of 2022.
  • The efficiency ratio for the fourth quarter was 61.0 percent compared to 57.1 percent in the prior quarter, and 51.3 percent in the fourth quarter of 2022.
  • The provision for credit losses was $1.9 million in the fourth quarter of 2023 compared to $2.2 million for the third quarter of 2023.
  • Non-interest income increased by $2.2 million to $3.2 million for the fourth quarter of 2023 from $1.1 million for the fourth quarter of 2022.