Welcome to our dedicated page for CBOA Financial news (Ticker: CBOF), a resource for investors and traders seeking the latest updates and insights on CBOA Financial stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect CBOA Financial's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of CBOA Financial's position in the market.
CBOA Financial, Inc. (OTCMKTS:CBOF) reported a strong performance for the fourth quarter of 2022, with net income rising 5.6% to $1.06 million, contributing to a fiscal year increase of 19.8% to $3.46 million. Fully diluted earnings per share reached $0.33, a 17.9% increase year-over-year. The Bank funded $41 million in new loans in Q4, with net interest income growing 9.5%. Non-performing assets are at a historic low, comprising just 0.001% of total assets. Shareholders' equity increased to $29 million, backed by earnings and warrant exercises. However, total assets slightly decreased by 0.6% in Q4.
CBOA Financial, Inc. (OTCMKTS:CBOF) reported a 34% increase in consolidated net income for Q3 2022, totaling $1 million, up from $747 thousand in Q2. Key highlights include:
- $23 million in new loans funded.
- Interest Income up 15% and Non-Interest Income up 22% quarter-over-quarter.
- Net Interest Margin increased to 4.41%.
- Non-performing assets down 87% year-over-year.
- Total assets rose to $372.4 million, a 2.4% increase.
Shareholders' equity slightly decreased due to unrealized losses on securities.
CBOA Financial, Inc. (CBOF) reported a 19% increase in consolidated net income for Q2 2022, totaling $747,000, compared to $650,000 in Q1 2022. Year-to-date pre-tax income reached $1.89 million, driven by favorable interest rate policies. Key highlights include $42 million in new loans funded, a 9% increase in interest income, and a 33% decrease in interest expense year-over-year. Total assets grew 2.4% to $363.5 million, while non-performing assets decreased 86% year-over-year. However, shareholders' equity fell to $26.6 million.
CBOA Financial, Inc. (OTCMKTS:CBOF) reported a 19% increase in consolidated net income for Q1 2022, totaling $650K, up from $548K in Q4 2021. Pre-tax earnings reached $878K, a 16.3% rise year-over-year. The company funded $32 million in new loans, with non-interest income surging 265% from last quarter, boosted by SBA loan sales. Total assets grew 3% to $354.9 million, while total deposits increased 4.2% to $319 million. However, shareholders' equity fell to $27 million due to unrealized losses, impacting tangible book value, which decreased to $2.89 per share.
CBOA Financial, Inc. (OTCMKTS:CBOF) reported a consolidated net income of $548 thousand for Q4 2021, a 7% increase from $510 thousand in Q3 2021. Total assets rose by 12% to $344.6 million compared to the previous quarter, although yearly assets decreased by 3.1%. New loans funded reached $42 million in the quarter, while non-interest income surged 67% quarter-over-quarter. Non-performing loans fell to a historic low of 0.39% of assets, and earnings per share for 2021 was $0.31.
CBOA Financial, Inc. (OTCMKTS:CBOF) reported a 12% increase in consolidated after-tax net income for Q3 2021, totaling $510,000, compared to $457,000 a year earlier. Notably, the bank achieved $29 million in new loan fundings during the quarter and saw a 67% reduction in nonperforming assets year-over-year. Total assets rose 1% to $340.4 million compared to the previous quarter. Despite a 5.7% decrease in total gross loans, total deposits increased by 0.9% to $303 million.
CBOA Financial, Inc. (OTCMKTS:CBOF) reported a remarkable 223% increase in consolidated after-tax net income for the quarter ending June 30, 2021, totaling $1,277,000 compared to $395,000 in the previous year. The strong performance was supported by a traditional loan growth of $19 million (7%) and significant processing of $27 million in second-round Paycheck Protection Program (PPP) loans. Despite an 8% decrease in total assets to $336.5 million, total asset growth year-over-year remained positive at 7%. Total deposits increased by 12% compared to the prior year, reaching $300 million.
CBOA Financial, Inc. (OTCMKTS:CBOF) reported a 46% increase in consolidated after-tax net income to $543,000 for Q1 2021, up from $371,000 in Q1 2020. Traditional loan growth was $18 million (10%), while nonperforming assets decreased by 16% quarter-over-quarter and 59% year-over-year. Total assets rose 3% to $365.2 million, reflecting organic net deposit growth and PPP loan funding. The bank maintained strong capital ratios exceeding regulatory requirements, showcasing effective capital management and operational strategies.
CBOA Financial, Inc. (OTCMKTS:CBOF) reported a remarkable 373% increase in after-tax net income for Q4 2020, totaling $1.52 million, compared to $457,000 in Q3 2020. The company achieved 8.9% deposit growth and improved its cost of funds by 11 basis points. Despite a 3.9% drop in total loans, total assets rose 7.3% to $355.8 million. Shareholders' equity increased to $25 million. The bank also recorded a negative tax provision expense of $1.9 million, reflecting improved financial results.
CBOA Financial, Inc. (CBOF) reported a 6.5% increase in net income for Q2 2020, reaching $395,000, up from $371,000 in Q1. This growth was supported by significant loan activity related to the SBA's Paycheck Protection Program (PPP) and strong deposit growth of 26%. The Bank's net interest margin stood at 4.51%, despite a 150 basis point rate cut by the Federal Reserve. Total assets rose 29% to $315.2 million, with total gross loans increasing by 38%. However, the Bank reported a negative non-interest income of $460,000 due to writedowns on OREO properties.
FAQ