CW Bancorp Stock Price, News & Analysis

CW Bancorp (CWBK) reported a consolidated net income of $4,618,000 for Q1 2023, translating to $1.37 per diluted share, marking a 19% increase compared to $1.15 in Q1 2022. Key financial highlights include a net income growth of 14%, return on average tangible equity (ROTE) at 27.19% (up 16%), and a return on assets (ROA) of 1.71% (up 35%). The bank's net interest income rose 15% to $9.9 million, with a net interest margin of 3.91%, up 37%. However, total assets decreased by 12%, total loans fell by 4%, and deposits dropped 13% compared to the same period last year.

CW Bancorp (OTC:PINK:CWBK) has announced a quarterly cash dividend of $0.23 per common share, marking a 5% increase from the previous quarter. The dividend is payable on April 3, 2023 to shareholders on record as of March 10, 2023. The bank aims to enhance banking for small and medium-sized businesses through customized services and a robust digital banking platform, while focusing on delivering a safe and sound banking experience. The company stresses its commitment to future growth and successful financial performance, acknowledging economic factors that could impact results.

CW Bancorp (OTCQX: CWBK) reported a significant increase in its consolidated net income for Q4 2022, reaching $4.5 million or $1.32 per diluted share, up 14% year-over-year. For the full year, net income totaled $17.4 million, reflecting a 22% increase, with EPS growing 27% to $5.00. Key metrics include a return on average tangible equity (ROTE) of 28.01%, a return on assets (ROA) of 1.60%, and a net interest margin of 3.74%, which rose 58% from 2021. Despite a 30% decline in non-interest income, the bank maintained strong capital ratios, positioning itself to navigate potential economic challenges effectively.