CASHMERE VALLEY BANK - CSHX STOCK NEWS

Cashmere Valley Bank (OTCQX:CSHX) reported robust year-to-date earnings of $13.9 million for the six months ended June 30, 2024, up from $13.1 million in the same period last year. Quarterly earnings reached $6.6 million, with diluted earnings per share increasing 23.1% to $1.71. The bank's deposits have stabilized, totaling $1.772 billion as of June 30, 2024. Despite a slight decrease in gross loans to $1.015 billion, credit quality remains strong with non-performing loans at just 0.23% of gross loans. The bank's net interest margin settled at 3.11% for the first half of 2024, down from 3.30% in the same period of 2023. Notably, the bank's GAAP capital to assets ratio improved to 10.60% from 9.07% a year ago, reflecting strong Tier 1 capital growth.

Cashmere Valley Bank reported quarterly earnings of $7.3 million with diluted earnings per share of $1.87, a decrease of 6.0%. Despite challenges in the financial environment, the bank showed strong core earnings. The bank highlighted an increase in gross loans, a decrease in deposit balances, and a slight increase in non-interest deposits. Return on assets and equity decreased due to asset growth and reduced earnings. Cash, cash equivalents, and restricted cash increased primarily due to higher cash balances. The investment portfolio grew, and securities earned higher rates. Credit quality remained strong with a slight increase in non-performing loans. Deposits increased with a rise in the average cost of deposits. Tier 1 capital and GAAP capital increased, reflecting strong financial positions. Net interest income decreased, while non-interest income and expenses slightly increased. The bank's efficiency ratio rose to 59.0%.

Cashmere Valley Bank (CSHX) announced annual earnings of $28.0 million for the year ended December 31, 2023, with diluted earnings per share of $7.20. The bank declared a semi-annual dividend payment of $0.85 per share. The net income increased by 7.6% to $28.0 million, and the return on equity increased to 15.69% in fiscal 2023. However, there was a decrease in cash balances, and non-interest bearing deposits totaled $424.4 million, which was 23.9% of total deposits. The Bank's net interest margin increased to 3.30% in 2023, and the book value on AFS and HTM securities totaled $858.0 million at December 31, 2023. Gross loans totaled $1.042 billion, representing an increase of $36.7 million from December 31, 2022. The allowance for credit losses on loans (ACL) was 1.26%, and the Bank recorded provision expense of $2,942,000 in 2023. Total deposits were $1.8 billion as of December 31, 2023, representing a decrease of $126.3 million from December 31, 2022. Shareholders' equity totaled $202.8 million, a 28.0% increase from December 31, 2022.

Cashmere Valley Bank announces quarterly earnings of $7.2 million and year-to-date earnings of $20.3 million. Deposit balances decrease by 5.4% from December 2022. Return on assets and return on equity improve. New Union Gap location opens.

Cashmere Valley Bank (OTCQX:CSHX) announced quarterly earnings of $5.4 million, with year-to-date earnings totaling $13.1 million. Diluted earnings per share increased by 77.1% to $3.37. Deposit balances decreased by 5.3% to $1.799 billion. Gross loans reached an all-time high of $1.026 billion. The Bank's return on assets increased to 1.30% from 0.68%, and return on equity was 15.21% compared to 7.51% last year.

Cashmere Valley Bank (OTCQX:CSHX) reported quarterly earnings of $7.7 million, or $1.99 diluted earnings per share, for the quarter ending March 31, 2023, reflecting a 27.6% increase year-over-year.

Key highlights include an increase in gross loans to $1.016 billion, though deposit balances fell by 6.2% to $1.84 billion. The bank's net interest income rose to $17.3 million, driven by an improved net interest margin of 3.42%.

Despite strong credit quality with non-performing loans at 0.15%, unrealized losses in the investment portfolio were reported at $76.7 million. Non-interest expense grew to $11.8 million, primarily due to increased salaries. Tier 1 capital improved to $238.0 million.

Cashmere Valley Bank (OTCQX:CSHX) reported annual earnings of $26.0 million for 2022, resulting in a diluted earnings per share (EPS) of $6.69, down 9.5% from 2021. The Board declared a semi-annual dividend of $0.85 per share, payable on February 13, 2023. Despite the challenging interest rate environment and tight labor market, net income exceeded all but 2021's earnings. The bank's net interest margin improved to 2.91%, while total deposits fell 1.9% to $1.9 billion. Return on equity increased to 14.68%, although shareholder equity decreased 33.8% to $158.4 million due to unrealized losses on securities.

Cashmere Valley Bank (OTCQX:CSHX) reported quarterly earnings of $8.9 million for Q3 2022, bringing year-to-date earnings to $16.3 million, down from $22.2 million in 2021. Year-to-date diluted EPS decreased by 25.6% to $4.19 due to $7.2 million in realized losses on securities. Total deposits rose by 1.0% to $1.98 billion. The bank's net interest income increased to $16.3 million. However, the return on assets fell to 1.00% from 1.41% a year prior, highlighting ongoing challenges amidst a rising interest rate environment.

Cashmere Valley Bank (OTCQX:CSHX) reported quarterly earnings of $1.3 million for Q2 2022, down from $14.2 million year-to-date. Diluted earnings per share fell to $1.91, a 46.9% decrease due to $7.3 million in realized losses on securities sales. Total deposits reached $1.96 billion, a slight increase of 0.1% from Q1 2022. The bank's net interest income improved to $14.6 million, with a net interest margin of 2.67%. A dividend of $0.85 per share was declared, payable on August 8, 2022. Overall, credit quality remains strong with non-performing loans at 0.04%.