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Bank of Idaho Holding Company (BOID) is the parent company of Bank of Idaho, a commercial bank headquartered in Idaho Falls, Idaho. Bank of Idaho offers a wide array of financial products and services including business, personal, mortgage banking, as well as trust and wealth management services. With a strong focus on sound financial management, the company has consistently reported positive financial results. For the quarter ended March 31, 2024, Bank of Idaho Holding Company reported consolidated net income of $3,067,000, or $0.69 per diluted share, demonstrating steady growth and commitment to prudent financial operations.
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.
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