Coeur d'Alene Bancorp Announces Its Fourth Quarter 2024 and Year to Date 2024 Results
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) ha riportato un reddito netto nel quarto trimestre 2024 di $452.990 ($0,24 per azione), in diminuzione rispetto a $563.908 ($0,30) nel quarto trimestre 2023. Il reddito netto annuale 2024 è stato di $1.475.207 ($0,78 per azione), rispetto a $2.118.568 ($1,12) nel 2023.
Attivi totali hanno raggiunto $241,4 milioni, con un aumento dell'1,3% rispetto all'anno precedente. I prestiti lordi sono aumentati del 12,6% a $133,9 milioni, mentre i depositi sono aumentati leggermente dello 0,2% a $195,5 milioni. L'azienda si è espansa nel mercato di Spokane con un ufficio di originazione prestiti a Spokane Valley e prevede di aprire una filiale al dettaglio su 5-Mile Road.
Il margine di interesse netto per il 2024 è stato del 3,27%, in diminuzione rispetto al 3,38% nel 2023. La banca mantiene una forte qualità degli attivi con zero attivi non performanti rispetto al capitale di base di livello 1 e continua a superare i requisiti minimi del rapporto di leva delle banche comunitarie.
Coeur d'Alene Bancorp (OTC Pink:CDAB) reportó un ingreso neto en el cuarto trimestre de 2024 de $452,990 ($0.24 por acción), una disminución con respecto a $563,908 ($0.30) en el cuarto trimestre de 2023. El ingreso neto del año completo 2024 fue de $1,475,207 ($0.78 por acción), en comparación con $2,118,568 ($1.12) en 2023.
Los activos totales alcanzaron $241.4 millones, un aumento del 1.3% en comparación con el año anterior. Los préstamos brutos aumentaron un 12.6% a $133.9 millones, mientras que los depósitos aumentaron ligeramente un 0.2% a $195.5 millones. La empresa se expandió al mercado de Spokane con una oficina de originación de préstamos en Spokane Valley y planea abrir una sucursal minorista en 5-Mile Road.
El margen de interés neto para 2024 fue del 3.27%, una baja desde el 3.38% en 2023. El banco mantiene una fuerte calidad de activos con cero activos no productivos en relación con el capital de nivel 1 y sigue superando los requisitos mínimos de la relación de apalancamiento de bancos comunitarios.
Coeur d'Alene Bancorp (OTC Pink:CDAB)는 2024년 4분기 순이익이 $452,990 ($0.24 주당)로, 2023년 4분기 $563,908 ($0.30)에서 감소했다고 보고했습니다. 2024년 전체 순이익은 $1,475,207 ($0.78 주당)으로, 2023년 $2,118,568 ($1.12)와 비교됩니다.
총 자산은 $241.4백만에 도달하여, 전년 대비 1.3% 증가했습니다. 총 대출은 $133.9백만으로 12.6% 증가했으며, 예금도 약간 0.2% 증가하여 $195.5백만에 이르렀습니다. 회사는 스포캔 시장에 대출 발행 사무소를 설립하고 5-Mile Road에 소매 지점을 열 계획입니다.
2024년 순이자 마진은 3.27%로, 2023년 3.38%에서 감소했습니다. 은행은 1급 자본에 대한 비수익 자산이 제로이며, 최소 지역 은행 레버리지 비율 요건을 초과하는 강력한 자산 품질을 유지하고 있습니다.
Coeur d'Alene Bancorp (OTC Pink:CDAB) a annoncé un revenu net pour le quatrième trimestre 2024 de 452 990 $ (0,24 $ par action), en baisse par rapport à 563 908 $ (0,30 $) pour le quatrième trimestre 2023. Le revenu net annuel pour 2024 s'est élevé à 1 475 207 $ (0,78 $ par action), contre 2 118 568 $ (1,12 $) en 2023.
Les actifs totaux ont atteint 241,4 millions de dollars, en hausse de 1,3 % par rapport à l'année précédente. Les prêts bruts ont augmenté de 12,6 % pour atteindre 133,9 millions de dollars, tandis que les dépôts ont légèrement augmenté de 0,2 % pour atteindre 195,5 millions de dollars. L'entreprise s'est développée sur le marché de Spokane avec un bureau d'octroi de prêts à Spokane Valley et prévoit d'ouvrir une agence de détail sur 5-Mile Road.
La marge d'intérêt nette pour 2024 était de 3,27 %, en baisse par rapport à 3,38 % en 2023. La banque maintient une forte qualité d'actifs avec zéro actif non performant par rapport au capital de catégorie 1 et continue de dépasser les exigences minimales en matière de ratio de levier des banques communautaires.
Coeur d'Alene Bancorp (OTC Pink:CDAB) berichtete einen Nettoertrag von $452.990 ($0,24 pro Aktie) im 4. Quartal 2024, was einen Rückgang gegenüber $563.908 ($0,30) im 4. Quartal 2023 darstellt. Der Nettoertrag für das Gesamtjahr 2024 betrug $1.475.207 ($0,78 pro Aktie), im Vergleich zu $2.118.568 ($1,12) im Jahr 2023.
Die Gesamtaktiva erreichten $241,4 Millionen, ein Anstieg um 1,3% im Jahresvergleich. Die Bruttokredite stiegen um 12,6% auf $133,9 Millionen, während die Einlagen leicht um 0,2% auf $195,5 Millionen zunahmen. Das Unternehmen erweiterte seinen Einfluss auf den Markt in Spokane mit einem Kreditvergabe-Büro im Spokane Valley und plant die Eröffnung einer Filiale in der 5-Mile Road.
Die Nettodifferenzbemessungsquote für 2024 lag bei 3,27%, gegenüber 3,38% im Jahr 2023. Die Bank hält eine starke Vermögensqualität mit null nicht leistungsfähigen Vermögenswerten im Verhältnis zu Tier 1-Kapital und übertrifft weiterhin die Mindestanforderungen an die Community-Bank-Leverage-Quote.
- Gross loans increased 12.6% YoY to $133.9 million
- Strong asset quality with 0% nonperforming assets to Tier 1 capital
- Market expansion with new locations in Spokane area
- Maintained FIVE Star Bauer Financial rating
- Net income decreased 30.4% YoY to $1.47 million
- Net interest margin declined to 3.27% from 3.38% YoY
- Return on average assets decreased to 0.62% from 0.89%
- Return on average equity dropped to 6.77% from 11.48%
Coeur d'Alene Bancorp (OTC Pink:CDAB), the parent company of bankcda, is pleased to announce its results for the fourth quarter 2024 and the year ended December 31, 2024.
POST FALLS, ID / ACCESSWIRE / January 15, 2025 / Coeur d'Alene Bancorp today reported net income for the fourth quarter of
As of December 31, 2024, total consolidated assets were
"Despite the challenges of the elevated interest rate environment and competition for deposits, we were able to maintain our deposit levels while lowering our funding costs in the second half of the year, allowing us to increase our net interest margin. Loan demand remained strong for a majority of the year, resulting in our third straight year of loan growth greater than
Financial Highlights:
Diluted earnings per share were
$0.77 for twelve months ended 2024 versus$1.11 per share for twelve months ended 2023.Net book value per share ended the quarter at
$12.36 compared to$10.89 from one year ago.Annualized return on average asset (ROAA) was
0.62% and annualized return on average equity (ROAE) was6.77% for twelve months ended 2024, compared to0.89% and11.48% for twelve months ended 2023, respectively.Total assets ended the period at
$241.4 million compared to$238.3 million as of December 31, 2023, an increase of1.3% .Gross loans were
$133.9 million at quarter end, versus$119.0 million on December 31, 2023.Total deposits were
$195.5 million , compared to$195.1 million as of December 31, 2023, an increase of0.2% . Deposits decreased$7.9 million representing a3.9% decrease from the linked quarter.For the twelve months ended December 31, 2024, net interest margin was
3.27% compared to3.38% for twelve months ended December 31, 2023.Asset quality remains strong with nonperforming assets to Tier 1 capital of
0.00% as of December 31, 2024.Continue to be FIVE Star-rated from Bauer Financial, which is their highest rating.
We continue to far exceed the minimum Community Bank Leverage Ratio.
Coeur d'Alene Bancorp, parent company of bankcda, is headquartered in Coeur d'Alene, Idaho with branches in Coeur d'Alene, Hayden, Post Falls, Kellogg, Spokane and a loan production office in Spokane Valley.
For more information, visit www.bankcda.bank or contact Wes Veach at 208-415-5006.
Forward-Looking Statements
This press release contains, among other things, certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements preceded by, followed by, or that include the words "may," "could," "should," "would," "believe," "anticipate," "estimate," "expect," "intend," "plan," "projects," "outlook" or similar expressions. These statements are based upon the current belief and expectations of the Coeur d'Alene Bancorp's management team and are subject to significant risks and uncertainties that are subject to change based on various factors (many of which are beyond Coeur d'Alene Bancorp's control). Although Coeur d'Alene Bancorp believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove to be inaccurate. Therefore, Coeur d'Alene Bancorp can give no assurance that the results contemplated in the forward-looking statements will be realized. The inclusion of this forward-looking information should not be construed as a representation by Coeur d'Alene Bancorp or any other person that the future events, plans, or expectations contemplated by Coeur d'Alene Bancorp will be achieved.
All subsequent written and oral forward-looking statements attributable to Coeur d'Alene Bancorp or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. Coeur d'Alene Bancorp does not undertake any obligation to update any forward-looking statement to reflect circumstances or events that occur after the date the forward-looking statements are made, except as required by law.
Balance Sheet Overview
(Unaudited)
| Dec 31, 2024 |
|
| Dec 31, 2023 |
|
| Sep 30, 2024 |
| ||||
Assets: |
|
|
|
|
|
|
|
|
| |||
Cash and due from banks |
| $ | 6,170,321 |
|
| $ | 5,126,240 |
|
| $ | 9,573,400 |
|
Securities available for sale, at fair value |
|
| 91,070,959 |
|
|
| 106,182,844 |
|
|
| 96,787,716 |
|
Net loans |
|
| 131,562,189 |
|
|
| 116,869,345 |
|
|
| 122,993,089 |
|
Other assets |
|
| 12,610,024 |
|
|
| 10,117,130 |
|
|
| 10,449,503 |
|
Total assets |
| $ | 241,413,494 |
|
| $ | 238,295,559 |
|
| $ | 239,803,707 |
|
|
|
|
|
|
|
|
|
|
|
|
| |
Liabilities and Shareholders' Equity: |
|
|
|
|
|
|
|
|
|
|
|
|
Total deposits |
| $ | 195,494,331 |
|
| $ | 195,128,267 |
|
| $ | 203,369,574 |
|
Borrowings |
|
| 15,397,000 |
|
|
| 16,596,000 |
|
|
| 7,000,000 |
|
Capital lease liability |
|
| 1,442,171 |
|
|
| 406,705 |
|
|
| 354,462 |
|
Other liabilities |
|
| 5,714,280 |
|
|
| 5,573,400 |
|
|
| 5,694,015 |
|
Shareholders' equity |
|
| 23,365,712 |
|
|
| 20,591,186 |
|
|
| 23,385,656 |
|
Total liabilities and shareholders' equity |
| $ | 241,413,494 |
|
| $ | 238,295,559 |
|
| $ | 239,803,707 |
|
|
|
|
|
|
|
|
|
|
|
|
| |
Ratios: |
|
|
|
|
|
|
|
|
|
|
|
|
Return on average assets |
|
| 0.62 | % |
|
| 0.89 | % |
|
| 0.57 | % |
Return on average equity |
|
| 6.77 | % |
|
| 11.48 | % |
|
| 6.37 | % |
Community bank leverage ratio |
|
| 10.59 | % |
|
| 10.16 | % |
|
| 10.33 | % |
Net interest margin (YTD) |
|
| 3.27 | % |
|
| 3.38 | % |
|
| 3.20 | % |
Efficiency Ratio (YTD) |
|
| 75.72 | % |
|
| 65.66 | % |
|
| 74.71 | % |
Nonperforming assets to total assets |
|
| 0.00 | % |
|
| 0.01 | % |
|
| 0.00 | % |
Nonperforming assets to tier 1 capital |
|
| 0.00 | % |
|
| 0.06 | % |
|
| 0.00 | % |
Income Statement Overview
(unaudited)
| For the three months ended |
|
| For the twelve months ended |
| |||||||||||
| Dec 31, 2024 |
|
| Dec 31, 2023 |
|
| Dec 31, 2024 |
|
| Dec 31, 2023 |
| |||||
Interest income |
| $ | 2,870,930 |
|
| $ | 2,513,598 |
|
| $ | 11,009,987 |
|
| $ | 9,607,105 |
|
Interest expense |
|
| 835,452 |
|
|
| 607,423 |
|
|
| 3,384,176 |
|
|
| 1,731,303 |
|
Net interest income |
|
| 2,035,478 |
|
|
| 1,906,175 |
|
|
| 7,625,812 |
|
|
| 7,875,802 |
|
Loan loss provision |
|
| 74,000 |
|
|
| 9,500 |
|
|
| 256,812 |
|
|
| 131,000 |
|
Noninterest income |
|
| 231,267 |
|
|
| 226,748 |
|
|
| 926,268 |
|
|
| 908,660 |
|
Salaries and employee benefits |
|
| 964,986 |
|
|
| 883,235 |
|
|
| 3,614,729 |
|
|
| 3,104,165 |
|
Occupancy expense |
|
| 168,463 |
|
|
| 151,398 |
|
|
| 667,756 |
|
|
| 596,907 |
|
Loss on sale, net of gains |
|
| - |
|
|
| - |
|
|
| 23,005 |
|
|
| 263,055 |
|
Other noninterest expense |
|
| 646,731 |
|
|
| 519,266 |
|
|
| 2,193,462 |
|
|
| 2,067,190 |
|
Income before income taxes |
|
| 412,564 |
|
|
| 569,523 |
|
|
| 1,796,315 |
|
|
| 2,622,146 |
|
Income tax expense |
|
| (40,426 | ) |
|
| 5,615 |
|
|
| 321,108 |
|
|
| 503,578 |
|
Net income |
| $ | 452,990 |
|
| $ | 563,908 |
|
| $ | 1,475,207 |
|
| $ | 2,118,568 |
|
SOURCE: Coeur d'Alene Bancorp
View the original press release on accesswire.com
FAQ
What was CDAB's net income for Q4 2024?
How much did CDAB's loan portfolio grow in 2024?
What was CDAB's deposit growth in 2024?
How did CDAB's net interest margin change in 2024?
What expansion plans did CDAB implement in 2024?
