ENDEAVOR BK - EDVR STOCK NEWS

Endeavor Bancorp (OTCQX: EDVR) reported net income of $924,000, or $0.22 per diluted share, for the third quarter of 2024. Pretax net income was $1.3 million, with a $609,000 provision for credit losses. Key highlights include:

• Net interest income increased 10.4% to $5.9 million compared to the preceding quarter
• Net interest margin expanded 15 basis points to 3.85%
• Total loans outstanding increased 11.4% to $538.4 million
• Total deposits increased to $577.8 million, up 17.3% year-over-year
• Tangible book value per share rose to $12.97

The company experienced record quarterly loan production and strong net interest income generation. Despite challenges from the high-interest rate environment, Endeavor Bancorp maintains a strong balance sheet and ample capital for continued growth.

Endeavor Bancorp (OTCQX: EDVR) reported strong Q2 2024 results, with net income of $760,000 ($0.18 per diluted share), up from $407,000 in Q1 2024. Pretax income reached $1.1 million, driven by substantial loan growth and net interest margin expansion. Key highlights include:

- Total assets increased 4.9% to $593.8 million
- Loans outstanding grew 9.1% to $483.4 million
- Deposits rose 5.3% to $518.2 million
- Net interest margin improved to 3.70%
- Non-performing loans remained low at 0.06% of total loans

The bank's strong performance was attributed to robust loan demand in Southern California markets and increased yields on earning assets. Endeavor Bancorp maintains a strong capital position, with a Tier 1 leverage ratio of 11.70% as of June 30, 2024.

Endeavor Bancorp, the holding company for Endeavor Bank, has declared a 2% stock dividend to be distributed on May 20, 2024, to shareholders of record on May 10, 2024. Shareholders will receive two additional shares of common stock for every 100 shares currently owned. The stock dividend aims to build shareholder value and increase trading liquidity. Endeavor Bancorp focuses on local businesses in Southern California and operates across multiple locations.

Endeavor Bancorp reported net income of $407,000 for the first quarter of 2024, with a provision for credit losses due to projected loan growth. The company's core pretax earnings decreased, impacted by higher costs from expansion. Despite this, net interest margin expanded, and loan growth remained solid, with a focus on high-quality credits and disciplined pricing. Total assets decreased slightly, while total loans outstanding and shareholders' equity increased. The company raised capital through subordinated notes to support strategic expansion into new markets. The Bank's capital ratios improved significantly, exceeding regulatory minimums.

Endeavor Bancorp (EDVR) completes $12.5 million subordinated notes issuance to support strategic expansion into the greater Los Angeles and Inland Empire markets. The notes qualify as Tier 2 capital at the holding company and will be down streamed to the Bank as Tier 1 capital. The Company plans to use the net proceeds for general corporate purposes and expansion efforts. Performance Trust Capital Partners, LLC acted as placement agent.

Endeavor Bancorp (EDVR) reported a decrease in net income for the fourth quarter of 2023 compared to the third quarter, but an increase compared to the same period in 2022. Core earnings for the year ending December 31, 2023, saw a significant increase of 34.7% compared to 2022. The company's net interest margin decreased, and total assets increased by 3.0% during the fourth quarter to $570.2 million at December 31, 2023. Total loans outstanding and total deposits also increased during the same period.

Endeavor Bancorp announces net income of $1.22 million for Q3 2023, up from $900,000 in Q2 2023 but down from $1.28 million in Q3 2022. Core pretax earnings increase by 24.0% YoY. Net interest margin decreases to 3.77% in Q3 2023. Total assets increase by $4.7 million to $553.9 million. Net loans increase by 3.7% in Q3 2023. Total deposits increase by $3.5 million to $492.7 million.

Endeavor Bancorp (OTCQX: EDVR) reported a net income of $899,000 for Q1 2023, up from $764,000 in Q4 2022 and $299,000 in Q1 2022. The Q1 results included a $291,500 provision for credit losses, significantly lower than the preceding quarter's $740,000. Total assets increased by 8.0% to $516.0 million, while total loans (excluding PPP loans) decreased 1.0%. The bank's liquidity remains stable, holding over $130.25 million in cash. Core pretax earnings were $1.58 million, down from $1.80 million in Q4 2022. Annualized return on average equity rose to 9.35%, and net interest margin decreased to 3.82%.

Endeavor Bank plans to grow its loan portfolio by $50 million over the next two quarters, while also addressing higher funding costs and non-interest expenses.