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Coeur d'Alene Bancorp (OTC Pink: CDAB), the parent company of bankcda, is headquartered in Coeur d'Alene, Idaho, with branches spanning Coeur d'Alene, Hayden, Post Falls, and Kellogg. As a prominent player in the regional banking sector, Coeur d'Alene Bancorp focuses on providing a range of financial services, including personal and business banking, loans, and investments.
In the second quarter of 2023, the company reported a net income of $543,152 or $0.29 per share, a substantial increase compared to $413,517 or $0.22 per share in the same quarter of 2022. This growth persisted throughout the first half of 2023, with year-to-date net income reaching $948,437 or $0.50 per share, up from $644,772 or $0.34 per share in the corresponding period of the previous year. Despite a 5.9% decrease in total consolidated assets, which stood at $236.4 million as of June 30, 2023, the company's loan portfolio demonstrated strong growth, ending the period at $112 million, a 16% increase from the prior year.
By the close of 2023, Coeur d'Alene Bancorp had recorded an annual net income of $2,118,568 or $1.12 per share, slightly down from $2,164,328 or $1.14 per share in 2022. On the asset side, total consolidated assets were $238.3 million, reflecting a 2.5% decrease for the year. Despite a decrease in total deposits, which fell by 12.3%, ending at $195.1 million, the loan portfolio saw a healthy increase of 10.9%, reaching $118.95 million by year-end.
Leadership under President and CEO Wes Veach has been instrumental in navigating competitive pressures in the deposit market and positioning the company for future growth. The company's strategy includes a short-duration investment portfolio, providing liquidity for upcoming quarters. They have also shown confidence in their financial stance by declaring a cash dividend of $0.30 per share on December 17, 2023.
Looking ahead, Coeur d'Alene Bancorp has plans to expand its market presence with new hires and the potential opening of a loan production office in Spokane. The company remains optimistic about ongoing loan demand and reinvestment opportunities within their bond portfolio. Overall, Coeur d'Alene Bancorp continues to focus on maintaining solid capital levels, outstanding asset quality, and navigating economic shifts effectively.
Coeur d'Alene Bancorp (OTC PINK:CDAB), the parent company of bankcda, has announced a cash dividend of $0.20 per share. The dividend will be paid on February 14, 2025, to shareholders of record as of January 31, 2025.
The company operates through its subsidiary bankcda, with branches located in Coeur d'Alene, Hayden, Kellogg, Post Falls and Spokane, WA, with headquarters in Coeur d'Alene, Idaho.
Coeur d'Alene Bancorp (OTC Pink:CDAB) reported Q4 2024 net income of $452,990 ($0.24 per share), down from $563,908 ($0.30) in Q4 2023. Full-year 2024 net income was $1,475,207 ($0.78 per share), compared to $2,118,568 ($1.12) in 2023.
Total assets reached $241.4 million, up 1.3% year-over-year. Gross loans increased 12.6% to $133.9 million, while deposits slightly increased by 0.2% to $195.5 million. The company expanded into the Spokane market with a loan origination office in Spokane Valley and plans to open a retail branch on 5-Mile Road.
Net interest margin for 2024 was 3.27%, down from 3.38% in 2023. The bank maintains strong asset quality with zero nonperforming assets to Tier 1 capital and continues to exceed minimum Community Bank Leverage Ratio requirements.
Coeur d'Alene Bancorp (OTC PINK:CDAB) reported its third quarter 2024 results. Net income for Q3 2024 was $253,324 or $0.13 per share, compared to $561,223 or $0.30 in Q3 2023. For the nine months ended September 30, 2024, net income was $1,022,217 or $0.54 per share, down from $1,554,659 or $0.82 per share in the same period of 2023.
Total consolidated assets increased by 0.9% to $239.8 million. Gross loans grew by 6.4% to $125.3 million, while total deposits decreased by 5.1% to $203.4 million. The company's net interest margin for the nine months ended September 30, 2024, was 3.20%, down from 3.41% in the same period of 2023.
The decrease in net income was attributed to increased staffing expenses related to the Spokane market expansion and loan loss provisions totaling $180,000 for loan growth. Despite these challenges, the company maintains a strong liquidity position and continues to exceed the minimum Community Bank Leverage Ratio.
Coeur d'Alene Bancorp (OTC PINK:CDAB) reported its Q2 2024 results, with net income of $383,459 ($0.20 per share), down from $543,152 ($0.29 per share) in Q2 2023. For the first six months of 2024, net income was $768,893 ($0.41 per share), compared to $993,437 ($0.53 per share) in 2023. Total assets increased 1.4% to $239.8 million, while gross loans grew 7.6% to $120.6 million. However, total deposits decreased 7.6% to $196.8 million. The company maintains strong asset quality with 0.00% nonperforming assets and a Five Star rating from Bauer Financial. Coeur d'Alene Bancorp plans to open its first Spokane retail location in early Q4 2024.
Coeur d'Alene Bancorp (CDAB) announced its financial results for the first quarter of 2023, reporting a net income of $405,285 or $0.21 per share, up from $231,255 or $0.12 per share in the same quarter of 2022. Total consolidated assets decreased to $238.5 million, a 5.5% decline year-over-year, primarily due to reduced cash balances and declining deposits. However, gross loans increased by 24.3% to $107.3 million. The bank maintains a strong liquidity position, with a net interest margin of 3.54% compared to 2.23% a year prior. Despite a 5.9% drop in total deposits, the bank retained minimal impacts from recent bank failures, and its asset quality remains robust.
Coeur d'Alene Bancorp (OTC PINK:CDAB) reported strong financial results for Q4 2022 and the fiscal year ending December 31, 2022. Net income rose to $825,017 for Q4 2022, up from $694,540 in Q3 2022, and significantly higher than $413,091 in Q4 2021. Annual net income reached $2.16 million, a 22% increase from the prior year. Total assets decreased slightly by 1.3% to $244.5 million, affected by unrealized losses. However, loans increased by $25 million and deposits grew by $3 million. Shareholder equity per share stood at $9.19. The company declared a cash dividend of $0.29 per share, its first in three years, with a positive outlook for 2023 despite challenges ahead.
Coeur d'Alene Bancorp (CDAB) announced a cash dividend of $.29 per share, payable on January 17, 2023, to shareholders of record as of December 30, 2022. This announcement reflects the company's commitment to returning value to its shareholders. Headquartered in Coeur d'Alene, Idaho, the bank operates branches in multiple locations, including Hayden, Kellogg, and Post Falls. For further details, visit www.bankcda.com.
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