BANK IDAHO HLDG CO - BOID STOCK NEWS

Idaho Trust Company has announced an agreement to acquire the Trust and Wealth Management Division of Bank of Idaho (BOID). The strategic acquisition will expand Idaho Trust's presence in eastern Idaho and enhance its service offerings. The transaction, expected to close in Q1 2025, will increase Idaho Trust's assets under administration and advisement from $846 million to $1.13 billion.

The acquisition aligns with Idaho Trust's growth strategy and will allow Bank of Idaho to focus on its core commercial and personal banking operations. Bank of Idaho, a $1.29 billion financial institution, operates 15 branches across Southern and Eastern Idaho and Eastern Washington. Both companies emphasize their commitment to ensuring a seamless transition for existing clients, who will receive detailed information about the process in the coming weeks.

Bank of Idaho Holding Company (OTCQX:BOID) reported strong Q3 2024 financial results, with consolidated net income of $3,864,000, or $0.86 per diluted share. This represents a significant increase from $2,586,000 ($0.58 per share) in Q2 2024 and $2,572,000 ($0.58 per share) in Q3 2023. Key highlights include:

• Loans held for investment grew 4.0% in Q3 and 20.4% year-over-year
• Total core deposits increased 3.2% in Q3 and 22.7% year-over-year
• Adjusted ROAA improved to 1.11% in Q3 2024
• Tangible book value per share increased to $27.57, up 6.4% from Q2 and 19.0% year-over-year
• Net interest income grew 5.6% from the prior quarter and 9.6% year-over-year
• The efficiency ratio improved to 57.4% in Q3 2024

The company maintained strong asset quality and capital ratios, with the Bank's Tier 1 leverage ratio at 11.51% and total risk-based capital ratio at 14.52%.

Bank of Idaho Holding Company (OTCQX:BOID) reported consolidated net income of $2,586,000, or $0.58 per diluted share, for Q2 2024. This includes a one-time tax expense of $425,000. Adjusted earnings were $3,011,000, or $0.68 per diluted share. Key highlights:

• Loans held for investment grew 5.1% in Q2 and 23.3% year-over-year
• Total core deposits increased 8.0% in Q2 and 14.7% year-over-year
• Pre-tax, pre-provision net income was $4.57 million
• Tangible book value per share increased to $25.90, up 3.0% from Q1 and 12.3% year-over-year

The company maintained strong asset quality with nonaccrual loans at 0.24% of total loans. The efficiency ratio was 64.8%, and the Bank's Tier 1 leverage ratio was 11.57%.

Caleb Dimick, Chief Banking Officer at Bank of Idaho, recently graduated from the Graduate School of Banking at Colorado's Executive Development Institute for Community Bankers. The program aims to develop future executives for community banks, providing individualized resources for professional growth and strategic planning. Dimick's completion of the program highlights his commitment to the industry and customer-centric approach. Bank of Idaho, a regional community bank, offers a variety of financial products and services in Southern Idaho and Eastern Washington.

Bank of Idaho Holding Company reported strong financial results for the first quarter of 2024, with consolidated net income of $3,067,000, or $0.69 per diluted share, showcasing growth from previous quarters. The Company's commitment to credit and pricing discipline led to increased loan production, core deposits, and pre-tax, pre-provision net income. The tangible book value per share also saw a significant increase. Despite margin pressure from the Fed's rate policy, the Company's net interest income remained steady. Non-interest income and expenses showed positive trends, contributing to an overall efficient operation. Total assets, loans held for investment, and deposits all displayed growth, demonstrating the Company's strong financial position. Asset quality remained robust, with capital ratios exceeding regulatory requirements. The Company's performance indicates a positive outlook for future growth and profitability.

Bank of Idaho appoints Michael Day from Sunfair Marketing to its Board of Directors, bringing operational expertise and strategic vision to drive growth. Day's background in agriculture and logistics will enhance the bank's direction and excellence.

Bank of Idaho Holding Company (BOID) reported consolidated net income of $2,076,000, or $0.47 per diluted share, for the fourth quarter of 2023. The Company saw growth in loans held for investment and total deposits, along with an increase in pre-tax, pre-provision income. However, there was a decrease in noninterest income and an increase in provision expense, leading to a decrease in net income from the previous quarter. Despite this, the Company's balance sheet remains strong, with total assets of $1.14 billion as of December 31, 2023.

The Federal Reserve Bank of San Francisco appoints Jeff Newgard, Chairman, President, and CEO, as the newest member of the Community Depository Institutions Advisory Council (CDIAC). Newgard's appointment is effective from January 1, 2024. The CDIAC serves as a crucial communication channel between the Federal Reserve and community depository institutions across the Twelfth District, offering valuable perspectives on local economic conditions, banking issues, regulatory policies, and operational realities faced by community banks and credit unions.

Bank of Idaho Holding Company (OTCQX:BOID) reported consolidated net income of $2,572,000, or $0.58 per diluted share, for Q3 2023, compared to $2,274,000, or $0.51 per diluted share, for Q2 2023, and $678,000 or $0.15 per diluted share, for Q3 2022. Loans held for investment grew $50.7 million, or 6.5%, in Q3 2023 and increased $194.2 million, or 30.4%, from Q3 2022. Total deposits increased $10.7 million, or 1.2%, in Q3 2023 and were up $50.9 million, or 6.0%, from Q3 2022.