Inscorp - IBTN STOCK NEWS

InsCorp (OTCQX: IBTN) reported Q3 2024 net income of $1,841,000 ($0.64 per share), compared to $1,820,000 ($0.63 per share) in Q2 2024 and $2,311,000 ($0.80 per share) in Q3 2023. The company saw loan growth of 4% year-over-year and 10% quarter-over-quarter, with strong performance in commercial and industrial loans. Revenue improved 6% quarter-over-quarter to $6,571,000, though declined 3% year-over-year. The Board approved a quarterly dividend of $0.10 per share, representing a 17.6% annualized increase from 2023.

InsCorp, Inc. reported net income of $1,820,000, or $0.63 per share, in Q2 2024, up from $1,763,000 in Q1 2024. The company achieved a ROAE of 10.1% and operating EPS of $0.65. Loan originations increased to $57 million in Q2, up from $23 million in Q1, with strength in Medquity, CRE, C&D, and C&I loans. The loan pipeline grew to $79 million. Medquity reported 9% Y/Y loan growth. Revenue declined 1.1% Y/Y but improved 2.7% LQA to $6,212,000. The net interest margin was 3.08%. Asset quality remains healthy with no net chargeoffs. InsCorp's Board authorized a share repurchase of 125,000 shares and declared a quarterly dividend of $0.10 per share.

InsCorp (IBTN) reported a net profit of $1,763,000 in Q1 2024, with an EPS of $0.61, down from $2,267,000 and $0.79 respectively in Q4 2023. ROA was 1.06% and ROE 9.5% in Q1 2024. Revenue declined slightly to $6,170,000, while the net interest margin decreased to 2.94% in the same period. The bank declared a quarterly cash dividend of $0.10 per share, representing a 17.6% increase from 2023.

Former investment banker Peyton Green joins INSBANK as Executive Vice President and Chief Financial Officer replacing Mark Bruchas. Green brings 30 years of financial services experience, including roles at Piper Sandler and senior equity analyst positions. He aims to enhance INSBANK's growth in the middle-Tennessee market and healthcare banking sector.

InsCorp (IBTN) reported a net profit of $2,267,000, or $0.79 per share, in the fourth quarter of 2023 compared to respective levels of $2,319,000 and $0.80 for the fourth quarter of 2022. For the year, net profit of $8,404,000, or $2.92 per share, in 2023 compared to $10,336,000, which benefited from a one-time $2,900,000 gain, or $3.59 per share, in 2022. InsCorp generated a ROA of 1.06% and ROE of 12.8% in 2023. INSBANK has demonstrated relative stability in a volatile environment over the past couple of years.

InsCorp reports a third quarter net profit of $2,311,000, increasing year-to-date profits to $6,137,000. Quarterly profits increased by 29% compared to the second quarter of 2023. Total assets remain consistent at $813,465,000. Non-interest bearing deposits increased by 8% while interest-bearing deposits remained unchanged. Net interest income for the quarter increased to $6,590,000. Operating income on a year-to-date basis increased by $1,264,000. Measures of asset quality remain strong with past due loans at 0.03% and non-performing assets at 0.22%. The company's board of directors approved a semi-annual dividend of $0.17 per share.

InsCorp (OTC-PINK: IBTN) reported a strong performance in Q1 2023, achieving a net profit of $2,050,000 or $0.71 per share. Compared to Q1 2022, net interest income increased by $1,047,000, and operating income before taxes rose to $2,614,000. Loans grew by $12.8 million or 7.8% annualized, while total assets rose by $61.8 million or 8.5%. The bank maintained a solid net interest margin of 3.44%, despite a slight decline from previous quarters. Asset quality indicators remained strong, with past due loans at only 0.05% and non-performing assets at 0.32%. The tangible book value per share grew to $22.35 during the quarter, reflecting positive operational efficiency and growth strategies despite environmental economic challenges.