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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) reported a net income of $694,540 or $0.37 per share for Q3 2022, an increase from $433,810 or $0.23 per share in Q3 2021. Year-to-date net income reached $1,339,312, slightly down from $1,362,239 in the previous year. Total assets increased by 4.4% to $262.3 million, and gross loans rose by 2.5% to $98.89 million. Core deposits grew 10.85%. However, shareholder equity decreased to $8.63 per share due to unrealized losses linked to rising interest rates.
Coeur d'Alene Bancorp has appointed Tag Jacklin to its Board of Directors, enhancing its leadership with his extensive experience in community banking and real estate. A native of Post Falls, Tag holds a Bachelor’s in Finance and Economics from Tulane University and an MBA from Washington State University. His background includes managing substantial real estate assets and active involvement in local economic development. The bank, with total assets around $270 million, aims to leverage Tag's expertise to expand its service capabilities in the Inland Northwest.
Coeur d'Alene Bancorp (OTC PINK:CDAB) reported net income of $413,517 or $0.22 per share for Q2 2022, slightly up from $408,913 in Q2 2021. Year-to-date net income was $644,772 or $0.34 per share, down from $928,429 in 2021. Total assets reached $251.2 million, a 6.8% increase year-over-year. Gross loans rose by 21% to $96.4 million. The investment portfolio totaled $104.5 million but showed an unrealized loss of $5.7 million. The bank maintains a strong liquidity position and five-star rating from Bauer Financial.
Coeur d'Alene Bancorp (OTC PINK:CDAB) announced its first quarter 2022 results, revealing a net income of $231,255 ($0.12 per share), down from $519,516 ($0.28 per share) in Q1 2021. Total consolidated assets rose to $252.4 million, an 18.4% increase year-over-year. The bank's investment portfolio reported an unrealized loss of $3.3 million amidst rising interest rates, affecting its overall asset value. Loans grew by 5.47% net of Paycheck Protection Program (PPP), while deposits increased by 3.86% during the quarter.
Coeur d'Alene Bancorp (OTC PINK:CDAB) reported a net income of $413,091 for Q4 2021, down from $554,076 in Q4 2020. However, the year's total net income was $1,775,330, up 37% from 2020, driven by a 17.7% rise in non-interest income. Total assets grew by 30.1% to $247.6 million, with significant increases in deposits and investments. Yet, gross loans fell due to PPP loan forgiveness, totaling $82.3 million. The company maintains a strong liquidity position and anticipates growth in interest income amid rising rates.
Coeur d'Alene Bancorp (OTC PINK:CDAB) reported net income of $433,810 for Q3 2021, up from $280,764 in Q3 2020, and $1,362,239 for the nine months ended September 30, 2021, compared to $737,208 in 2020. Total assets increased by 33.2% to $240.05 million, driven by higher deposits and investments. However, total loans decreased by $4.5 million due to PPP forgiveness. The net interest margin for the first nine months was 2.45%, down from 3.42% last year, reflecting a shift towards lower-yield investment securities amidst strong deposit growth.
Coeur d'Alene Bancorp (OTC PINK:CDAB) reported strong financial results for Q2 2021, with net income of $408,913 ($0.22 per share), a significant increase from $214,283 ($0.11 per share) in Q2 2020. Year-to-date net income reached $928,429 ($0.49 per share), compared to $456,444 ($0.24 per share) in 2020. Total assets grew to $235.2 million, up from $171.5 million a year earlier. Robust deposit growth of over $16 million was noted, alongside a successful $5 million subordinated debt offering, strengthening the bank's capital ratios.
Coeur d’Alene Bancorp (OTC Pink: CDAB) reported a net income of $519,516 or $0.28 per share for Q1 2021, up from $242,160 or $0.13 per share in Q1 2020. Key highlights include a 47% increase in total assets to $213.2 million year-over-year, with total deposits rising 13.9% to $190.9 million. The bank achieved a 1.04% return on average assets (ROAA) and 9.94% return on average equity (ROAE). Strong deposit growth is attributed to an upward trend in the small business environment, despite challenges in loan portfolio growth.
Coeur d'Alene Bancorp (OTC Pink: CDAB) reported net income of $1,291,283 ($0.69/share) for the full year 2020, down from $1,404,144 ($0.83/share) in 2019. The fourth-quarter net income reached $554,076, a significant increase over $355,323 in Q4 2019. Total assets rose by 35.3% to $190.3 million, with loans up to $88.5 million. Total deposits increased by 39.11% to $168.1 million. Despite strong performance, diluted earnings per share declined to $0.68 from $0.82 due to lower interest rates and expenses related to core system conversion.
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