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GrandSouth Bancorporation (GRRB) reported a net income of $4.4 million for Q3 2022, up 15.26% from the previous year. The Board declared a quarterly cash dividend of $0.13 per common share, payable on November 18, 2022. Key highlights include basic earnings per share of $0.80 and total assets of $1.3 billion. Gross loans rose by $42.2 million to $995.1 million. However, total deposits fell by $1.1 million to $1.1 billion, and the cost of funds increased significantly.
GrandSouth Bancorporation (GRRB:OTCQX) reported a net income of $3.7 million for Q2 2022, reflecting a 6.81% decrease compared to Q2 2021. The Board declared a quarterly cash dividend of $0.13 per common share, payable on August 18, 2022. Key highlights include a 0.06% increase in total assets to $1.3 billion and a 7.12% rise in gross loans, totaling $952.8 million. However, the efficiency ratio increased to 64.38%, up from 58.40% in the previous quarter.
GrandSouth Bancorporation (OTCQX: GRRB) reported a net income of $4.1 million for Q1 2022, a 14.3% increase from the previous year. The Board of Directors declared a cash dividend of $0.13 per common share, payable on May 18, 2022. Total assets rose by $49.5 million to $1.3 billion, while total deposits increased by $49.9 million to $1.1 billion. Loan growth was stable, with an increase of $2.7 million. The company reported a 0.03% delinquency rate on core loans, showcasing strong financial health.
GrandSouth Bancorporation (OTCQX: GRRB) reported a net income of $16.1 million for the year ended December 31, 2021, marking an 86.40% increase from 2020. For the fourth quarter, net income reached $4.7 million, up 47.13% year-over-year. The Board declared a quarterly cash dividend of $0.13 per share, payable on February 18, 2022. Key highlights include a 30% increase in quarterly dividend, a 0.09% increase in total assets to $1.2 billion, and a 9.29% growth in gross loans, indicating positive growth in financial performance.
GrandSouth Bancorporation (GRRB:OTCQX) reported a net income of $3.8 million for Q3 2021, marking a 103.07% increase from the previous year. The company declared a cash dividend of $0.10 per share, payable on November 19, 2021. Highlights include total assets rising to $1.2 billion, gross loans increasing to $937.1 million, and total deposits reaching $1.1 billion. The annualized return on average equity stood at 16.52%. The efficiency ratio improved to 58.81% from 68.29% in Q3 2020.
GrandSouth Bancorporation (GRRB) reported a net income of $4.0 million for the second quarter of 2021, marking a 142.39% increase from the previous year. The company declared a cash dividend of $0.10 per share, payable on August 13, 2021. Key highlights include earnings per share of $0.73 and total assets rising to $1.2 billion. Gross loans increased by $19.5 million, and total deposits grew by $25.8 million. The efficiency ratio improved to 57.44%, indicating enhanced operational efficiency.
GrandSouth Bancorporation (GRRB:OTCQX) has announced the election of LeeAnn Weber to its board of directors, effective from the 2021 annual meeting. With extensive experience in the commercial construction industry as CFO of Strange Bros. Grading Co., Weber is expected to enhance GrandSouth's service to the construction sector. GrandSouth Bancorporation was founded in 1998 and currently operates eight locations, with assets exceeding $1.1 billion as of March 31, 2021. President and CEO JB Schwiers expressed enthusiasm about Weber's addition to the team, highlighting a long-standing relationship with her family.
GrandSouth Bancorporation (GRRB) reported a net income of $3.6 million for Q1 2021, marking a steady performance. The company's total assets grew to $1.1 billion, reflecting a 4.27% increase. Gross loans rose 1.25% to $10.9 million. Deposits surged by 9.64%, lowering the cost of funds by 9.38%. The company maintained strong credit quality, with non-performing assets at 0.20%. Basic earnings per share reached $0.65. A cash dividend of $0.10 per share is set for May 21, 2021.
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