INSBANK Reports Solid Growth in 1Q24 and InsCorp, Inc. Declares Quarterly Cash Dividend
INSBANK reported Q1 2025 earnings with EPS of $0.57, compared to $0.66 in Q4 2024 and $0.61 in Q1 2024. The bank achieved 16% year-over-year loan growth and maintained a healthy loan-to-deposit ratio of 100.4%.
Key financial metrics include:
- ROA: 0.74%
- Net interest margin: 3.02%
- Efficiency ratio: 66.1%
- Tangible book value: $25.84 per share
Notable developments include personnel growth of 33% year-over-year and expansion in multiple lending segments, including C&I (21%), Multifamily (32%), and HELOC (51%). The bank's healthcare division, Medquity, continues to provide solid growth with a 13% year-over-year increase.
The Board approved a quarterly dividend of $0.11 per share, representing a 10% increase from 2024. Asset quality remains strong with zero net charge-offs and nonperforming loans at 0.66% of total loans.
INSBANK ha riportato i risultati del primo trimestre 2025 con un utile per azione (EPS) di 0,57$, rispetto a 0,66$ nel quarto trimestre 2024 e 0,61$ nel primo trimestre 2024. La banca ha registrato una crescita dei prestiti del 16% su base annua e ha mantenuto un sano rapporto prestiti/depositi del 100,4%.
Le principali metriche finanziarie includono:
- ROA: 0,74%
- Margine di interesse netto: 3,02%
- Indice di efficienza: 66,1%
- Valore contabile tangibile: 25,84$ per azione
Tra gli sviluppi rilevanti si segnalano una crescita del personale del 33% su base annua e un'espansione in diversi segmenti di prestito, tra cui C&I (21%), Multifamily (32%) e HELOC (51%). La divisione sanitaria della banca, Medquity, continua a mostrare una solida crescita con un aumento del 13% su base annua.
Il Consiglio di Amministrazione ha approvato un dividendo trimestrale di 0,11$ per azione, che rappresenta un incremento del 10% rispetto al 2024. La qualità degli asset rimane solida con zero svalutazioni nette e prestiti non performanti pari allo 0,66% del totale prestiti.
INSBANK reportó ganancias del primer trimestre de 2025 con un BPA de 0,57$, en comparación con 0,66$ en el cuarto trimestre de 2024 y 0,61$ en el primer trimestre de 2024. El banco logró un crecimiento anual de préstamos del 16% y mantuvo una saludable relación préstamos-depósitos del 100,4%.
Las métricas financieras clave incluyen:
- ROA: 0,74%
- Margen de interés neto: 3,02%
- Índice de eficiencia: 66,1%
- Valor contable tangible: 25,84$ por acción
Entre los desarrollos destacados se encuentran un crecimiento del personal del 33% interanual y expansión en varios segmentos de préstamos, incluyendo C&I (21%), Multifamily (32%) y HELOC (51%). La división de salud del banco, Medquity, continúa mostrando un sólido crecimiento con un aumento del 13% interanual.
La Junta aprobó un dividendo trimestral de 0,11$ por acción, representando un incremento del 10% respecto a 2024. La calidad de los activos sigue siendo fuerte con cero pérdidas netas por incobrables y préstamos en mora al 0,66% del total de préstamos.
INSBANK는 2025년 1분기 실적으로 주당순이익(EPS) 0.57달러를 보고했으며, 이는 2024년 4분기 0.66달러, 2024년 1분기 0.61달러와 비교됩니다. 은행은 전년 대비 대출 성장률 16%을 달성하고 건전한 대출 대비 예금 비율 100.4%를 유지했습니다.
주요 재무 지표는 다음과 같습니다:
- 총자산순이익률(ROA): 0.74%
- 순이자마진: 3.02%
- 효율성 비율: 66.1%
- 유형 장부가치: 주당 25.84달러
주요 발전 사항으로는 전년 대비 33%의 인력 증가와 C&I(21%), 다가구 주택(32%), HELOC(51%) 등 여러 대출 부문의 확장이 있습니다. 은행의 헬스케어 부문인 Medquity는 전년 대비 13% 성장하며 견고한 성장을 지속하고 있습니다.
이사회는 주당 0.11달러의 분기 배당금을 승인했으며, 이는 2024년 대비 10% 증가한 수치입니다. 자산 품질은 순대손충당금이 없고 부실대출 비율이 총대출의 0.66%로 여전히 견고합니다.
INSBANK a publié ses résultats du premier trimestre 2025 avec un BPA de 0,57$, contre 0,66$ au quatrième trimestre 2024 et 0,61$ au premier trimestre 2024. La banque a réalisé une croissance annuelle des prêts de 16% et maintenu un ratio prêts/dépôts sain de 100,4%.
Les principaux indicateurs financiers comprennent :
- ROA : 0,74%
- Marge nette d'intérêt : 3,02%
- Ratio d'efficacité : 66,1%
- Valeur comptable tangible : 25,84$ par action
Parmi les développements notables, on compte une augmentation de 33% des effectifs sur un an et une expansion dans plusieurs segments de prêts, notamment C&I (21%), Multifamily (32%) et HELOC (51%). La division santé de la banque, Medquity, continue d'afficher une croissance solide avec une hausse de 13% sur un an.
Le conseil d'administration a approuvé un dividende trimestriel de 0,11$ par action, représentant une augmentation de 10% par rapport à 2024. La qualité des actifs reste solide avec zéro pertes nettes et des prêts non performants à 0,66% du total des prêts.
INSBANK meldete die Ergebnisse für das erste Quartal 2025 mit einem Gewinn je Aktie (EPS) von 0,57$, im Vergleich zu 0,66$ im vierten Quartal 2024 und 0,61$ im ersten Quartal 2024. Die Bank erzielte ein jährliches Kreditwachstum von 16% und hielt eine gesunde Krediteinlagenquote von 100,4% aufrecht.
Wesentliche Finanzkennzahlen sind:
- ROA: 0,74%
- Nettozinsmarge: 3,02%
- Effizienzquote: 66,1%
- Materieller Buchwert: 25,84$ pro Aktie
Bemerkenswerte Entwicklungen umfassen ein Personalwachstum von 33% im Jahresvergleich sowie eine Expansion in mehreren Kreditsegmenten, darunter C&I (21%), Mehrfamilienhäuser (32%) und HELOC (51%). Die Gesundheitsabteilung der Bank, Medquity, verzeichnet weiterhin solides Wachstum mit einem Anstieg von 13% im Jahresvergleich.
Der Vorstand genehmigte eine vierteljährliche Dividende von 0,11$ pro Aktie, was einer Steigerung von 10% gegenüber 2024 entspricht. Die Vermögensqualität bleibt stark mit null Nettoabschreibungen und notleidenden Krediten in Höhe von 0,66% der Gesamtkredite.
- Loan growth improved to 16% Y/Y in 1Q25, up from 12% Y/Y in 4Q24
- Net interest income increased $831,000 (15% Y/Y)
- Strong deposit growth matching loan growth at 16% Y/Y
- Treasury and deposit service charge income up 20% Y/Y
- Zero net chargeoffs for multiple quarters
- Quarterly dividend increased 10% to $0.44 annualized
- Tangible book value increased 6% Y/Y to $25.84
- EPS declined to $0.57 from $0.61 Y/Y
- ROA decreased to 0.74% from 0.86% Y/Y
- Efficiency ratio worsened to 66.1% from 60.1% Y/Y
- Overhead expenses increased 29% Y/Y ($1,040,000)
- Noninterest income decreased 7% Y/Y
- CRE loans exceed regulatory guidance at 307% of capital
- Tangible common equity ratio declined to 8.01% from 8.52% Y/Y
The decline in EPS on a compared to 1Q24 ("Y/Y") basis was primarily due to: (1) an increase in overhead of
Loan growth continued to improve in 1Q25, increasing to
Medquity, INSBANK's healthcare business, continues to provide solid growth and diversification given its national focus and reduced sensitivity to economic and real estate cycles. Although Medquity's loan growth slowed to
Bank-wide loan originations were
Revenue improved
Noninterest expenses grew
The bank-level net interest margin of
Management remains optimistic that the continued reduction in the cost of CDs along with continued loan growth should result in an improvement in the NIM over the balance of 2025. As a result of the bank's asset sensitive balance sheet, particularly within six months of a reduction in the Fed Funds rate, the bank executed at-the-money interest rate floor corridors with a notional value totaling
Deposit growth of
Asset quality measures remain healthy. Net chargeoffs represented
Nonperforming loans ("NPLs") improved to
C&D and CRE concentration levels decreased compared to a quarter ago but remained consistent with historical levels in 1Q25. Due to the decrease in funded C&D balances in the quarter, C&D loans declined to
Existing capital levels and ratios remain supportive of solid balance sheet growth in 2025. INSBANK remained "well capitalized" from a regulatory perspective with a tier-1 leverage ratio of
The Board of Directors has approved the payment of a quarterly dividend of
About INSBANK
Since 2000, INSBANK has offered its clients highly personalized services provided by experienced relationship managers while positioning itself as an innovator, utilizing technologies to deliver those services efficiently and conveniently. In addition to its commercial-focused operation, INSBANK operates three divisions: Medquity, TMA Medical Banking, and Finworth. Medquity offers healthcare banking solutions to physicians, partnerships, and practices nationwide, while TMA Medical Banking provides banking services specifically to members of the Tennessee Medical Association. Finworth offers nationally available virtual private client services for interest-bearing deposits. InsCorp, Inc., a
InsCorp, Inc. | |||||
Consolidated Balance Sheets | |||||
(000's) | |||||
(unaudited) | |||||
March 31, | December 31, | March 31, | |||
2025 | 2024 | 2024 | |||
Assets | |||||
Cash and Cash Equivalents | $ 5,642 | $ 6,401 | $ 4,521 | ||
Interest Bearing Deposits | 53,714 | 37,175 | 44,920 | ||
Securities | 46,866 | 56,426 | 60,149 | ||
Loans | 784,251 | 764,795 | 677,457 | ||
Allowance for Credit Losses | (10,158) | (9,895) | (9,281) | ||
Net Loans | 774,093 | 754,900 | 668,176 | ||
Premises and Equipment, net | 12,414 | 12,451 | 12,620 | ||
Bank Owned Life Insurance | 14,558 | 14,458 | 14,160 | ||
Restricted Equity Securities | 10,097 | 10,224 | 9,349 | ||
Goodwill and Related Intangibles, net | 1,091 | 1,091 | 1,091 | ||
Other Assets | 17,560 | 11,345 | 13,260 | ||
Total Assets | $ 936,035 | $ 904,471 | $ 828,246 | ||
Liabilities and Shareholders' Equity | |||||
Liabilities | |||||
Deposits | |||||
Noninterest Bearing | $ 91,997 | $ 84,017 | $ 75,966 | ||
Interest Bearing | 688,797 | 666,466 | 595,666 | ||
Total Deposits | 780,794 | 750,483 | 671,632 | ||
Federal Home Loan Bank Advances | 37,800 | 44,000 | 45,000 | ||
Subordinated Debentures | 17,376 | 17,371 | 17,354 | ||
Notes Payable | 14,000 | 7,800 | 8,750 | ||
Other Liabilities | 10,081 | 9,998 | 13,922 | ||
Total Liabilities | 860,051 | 829,652 | 756,658 | ||
Shareholders' Equity | |||||
Common Stock | 29,154 | 29,395 | 29,411 | ||
Accumulated Retained Earnings | 49,213 | 47,891 | 43,182 | ||
Accumulated Other Comprehensive Income | (2,383) | (2,467) | (1,005) | ||
Total Stockholders' Equity | 75,984 | 74,819 | 71,588 | ||
Total Liabilities & Shareholders' Equity | $ 936,035 | $ 904,471 | $ 828,246 | ||
Tangible Book Value | $ 25.84 | $ 25.39 | $ 24.48 |
InsCorp, Inc. | ||||||
Consolidated Statements of Income | ||||||
(000's) | ||||||
(Unaudited) | ||||||
For the Three Months Ended | ||||||
March 31, | December 31, | March 31, | ||||
Interest Income | $ 13,591 | $ 13,621 | $ 12,563 | |||
Interest Expense | 7,167 | 7,230 | 6,970 | |||
Net Interest Income | 6,424 | 6,391 | 5,593 | |||
Provision for Credit Losses | 263 | 339 | 25 | |||
Noninterest Income | ||||||
Service Charges on Deposit Accounts | 80 | 96 | 67 | |||
Bank Owned Life Insurance | 100 | 100 | 95 | |||
Other | 355 | 403 | 415 | |||
Total Noninterest Income | 535 | 599 | 577 | |||
Noninterest Expense | ||||||
Salaries and Benefits | 3,064 | 2,908 | 2,301 | |||
Occupancy and Equipment | 453 | 479 | 393 | |||
Data Processing | 143 | 114 | 94 | |||
Marketing and Advertising | 117 | 128 | 119 | |||
Other | 822 | 619 | 652 | |||
Total Noninterest Expense | 4,599 | 4,248 | 3,559 | |||
Net Income from Operations | 2,097 | 2,403 | 2,586 | |||
Gain (Loss) in Interest Rate Hedges | $ (5) | (181) | (252) | |||
Income Before Income Taxes | 2,092 | 2,222 | 2,334 | |||
Income Tax Expense | $ (440) | (276) | (571) | |||
Net Income | $ 1,652 | $ 1,946 | $ 1,763 | |||
Earnings per Share | $ 0.57 | $ 0.66 | $ 0.61 | |||
Performance Metrics | ||||||
InsCorp, Inc. | ||||||
ROAA | 0.74 % | 0.88 % | 0.86 % | |||
ROAE | 8.83 % | 10.34 % | 10.03 % | |||
ROATCE | 8.96 % | 10.49 % | 10.19 % | |||
Net Interest Margin | 3.02 % | 3.04 % | 2.86 % | |||
Efficiency | 66.13 % | 62.39 % | 60.14 % | |||
Revenue / Employee | 409 | 418 | 468 | |||
Expense / Employee | 270 | 254 | 270 | |||
Assets / Employee | 13,566 | 13,601 | 15,627 | |||
INSBANK | ||||||
ROAA | 0.94 % | 1.07 % | 1.06 % | |||
ROAE | 8.47 % | 9.51 % | 9.52 % | |||
Net Interest Margin | 3.18 % | 3.18 % | 2.94 % | |||
Capital Ratios | ||||||
Tier-1 Leverage | 11.33 % | 11.53 % | 11.51 % | |||
Common Equity Tier-1 | 11.97 % | 11.90 % | 12.61 % | |||
Total Risk-Based Capital | 13.20 % | 13.11 % | 13.86 % |
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SOURCE INSBANK