BRBW - BRBW STOCK NEWS

Brunswick Bancorp (OTC: BRBW) reported its financial results for the year ended December 31, 2022. Total assets rose by 4.97% to $390.7 million, driven by a 13.49% increase in the loan portfolio, now at $313.8 million. Deposits increased 1.68% to $282.3 million. Net income reached $3.853 million, translating to $1.32 per diluted share, up 12.82% from the previous year. However, the fourth quarter showed some challenges with net interest income comparable to last year, but management noted elevated inflation and interest rate hikes. On December 20, 2022, Brunswick announced a merger with Mid Penn Bancorp, pending regulatory approval.

Brunswick Bancorp (OTC: BRBW) reported strong financial results for the third quarter of 2022. Total assets rose 2.54% to $381.6 million, while the loan portfolio increased 8.29% to $299.4 million compared to the previous year. Net income for the nine months ended September 30, 2022, was $2.798 million, up 31.36% year-over-year. The quarterly net income rose 9.07% to $950 thousand, with net income per diluted share reaching $0.32, a slight increase from $0.31 last year. Deposits were $279.8 million, up 0.80% year-over-year, indicating solid growth amid economic uncertainty.

Brunswick Bancorp (OTC: BRBW) reported a strong financial performance for the first half of 2022, with total assets climbing 3.10% to $383.7 million. Net income surged 46.78% to $1.848 million, with earnings per share rising 41.05% to $0.63. The loan portfolio grew by 2.95%, while deposits increased 6.10%. The Bank's net interest margin improved to 3.82% and costs of deposits decreased to 0.49%. However, a $300,000 pretax loss is expected in Q3 from the early sale of a property. The board remains optimistic about future growth amid changing market conditions.

Brunswick Bancorp (OTC: BRBW) announced that its shareholders have overwhelmingly elected management's nominees to the Board, with each receiving around 80% of the votes. The elected members are James Gassaro, Richard A. Malouf, and Bridget Reilly, who will serve three-year terms. Chairman Frank Gumina expressed gratitude for shareholder support as the company continues to implement its strategic plan aimed at improving performance and enhancing shareholder value.

Brunswick Bancorp (OTC: BRBW) reported strong financial results for Q1 2022, highlighting significant growth in key metrics. Total assets increased by 8.29% to $372.8 million year-over-year, with loans and deposits rising by 9.61% and 9.86%, respectively. Net income surged 38.95% to $767,000, while earnings per share grew 36.42% to $0.26. The bank's net interest margin improved slightly to 3.70%. Despite challenges from a low-interest-rate environment, management remains optimistic about future growth, focusing on enhancing shareholder value through strategic initiatives.

Brunswick Bancorp (OTC: BRBW) declared a special cash dividend of $0.12 per share on February 15, 2022, payable on March 15, 2022, to shareholders of record by March 1, 2022. This decision, made by the Board, reflects significant improvements in the company's financial performance. CEO Nicholas A. Frungillo highlighted the success in growing assets, loans, and deposits while reducing costs. The company's strategic closure of unprofitable branches has contributed to increased net income supporting dividends for 2021 and 2022.

Brunswick Bancorp (OTC: BRBW) reported strong financial results for the year and fourth quarter ended December 31, 2021. Total assets rose 17.80% to $372.2 million, driven by a 16.24% increase in loans to $276.5 million and a 19.53% rise in deposits to $277.6 million. Net income surged 24.51% to $3.367 million, with earnings per share increasing to $1.19. Core earnings soared 206.35%. The bank's return on average assets remains robust, highlighting effective growth and cost management strategies. Management is focused on enhancing shareholder value.

Brunswick Bancorp (BRBW) reported a significant financial turnaround for the nine months ending September 30, 2021, with net income soaring 151.84% to $2.130 million, equating to $0.76 per diluted share. Total assets rose 14.31% to $361.2 million, while loans increased 12.61% to $267.9 million. Deposits surged 17.57% to $273.0 million. The bank's net interest margin improved to 3.51%, and net interest income rose 30.79% to $8.482 million. Management credits growth to strategic marketing and a focus on commercial real estate lending.

Brunswick Bancorp (OTC: BRBW) reported strong financial results for the first half of 2021, with net income increasing by 132.82% to $1.259 million. Total assets rose 15.03% to $363.5 million, while loans increased 12.90% to $268.6 million and deposits grew 17.55% to $273.0 million. The company attributes this growth to successful marketing initiatives and participation in the Paycheck Protection Program. However, provisions for loan losses increased, reflecting ongoing economic uncertainty due to the COVID-19 pandemic.