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Peak Bancorp, Inc. - IDFB STOCK NEWS

Welcome to our dedicated page for Peak Bancorp news (Ticker: IDFB), a resource for investors and traders seeking the latest updates and insights on Peak Bancorp stock.

Peak Bancorp, Inc., is the holding company for Idaho First Bank, a community bank in McCall, Idaho, known for its People First motto. With branches across Idaho and Oregon, the bank focuses on quality relationships with customers, financial performance, and credit portfolio metrics. The company's commitment to credit discipline, proactive monitoring, and funding the Allowance for Credit Loss supports its growing loan balances. CEO Todd Cooper and Chairman Mark Miller are pleased with the strong financial performance and results for the first half of 2023.

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Peak Bancorp, Inc. and its subsidiary bank, Idaho First Bank, have received all regulatory approvals for the acquisition by BAWAG Group. The purchase price remains at $65 million, and the deal is set to close on November 30, 2023. BAWAG Group plans to work with the current leadership team of Idaho First Bank to expand its community-focused banking presence in Idaho and neighboring markets.
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Peak Bancorp, Inc. announced unaudited financial results for Q3 2023. Net Interest Income increased 16% to $16.93 million due to loan and deposit growth. Net Income after tax increased 59% to $4.15 million. Noninterest expenses increased 2% to $11.42 million. Stockholder’s equity increased 14% to $49.5 million. Net Interest Income for Q3 2023 increased 7% to $5.86 million. Net Income after tax increased 33% to $1.63 million. Noninterest expense increased 4% to $3.81 million. Average loans increased by 4% to $516 million, while average deposits increased 5% to $545 million.
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Peak Bancorp, Inc. (OTC: IDFB) announced its unaudited financial results for Q4 and the full year ending December 31, 2022. The company reported after-tax net income of $1.66 million for Q4, totaling $4.27 million for the year. Fourth-quarter net interest income reached a record $6.14 million, aided by improved margins, despite a $1.21 million drop in mortgage banking income for 2022 due to decreased demand. Loan balances grew by $81 million to $480 million, with deposits up $27 million to $497 million. The allowance for loan losses stood at $5.7 million or 1.2% of loans, excluding PPP. Shareholder approval for the sale of the company to BAWAG Group was completed, pending regulatory approval.

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Peak Bancorp, Inc. (OTC: IDFB) reported unaudited financial results for Q3 2022, with an after-tax net income of $2.6 million for the first nine months. A decline in net interest income of $2.1 million compared to 2021 was primarily due to an $8.0 million drop in PPP interest income, partially offset by non-PPP loan growth. The loan portfolio reached $459 million with a $114 million increase (excluding PPP) from Q3 2021, while deposits grew by $72 million to $480 million. The allowance for loan losses stood at $5.4 million or 1.2% of loans, indicating strong credit quality.

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Peak Bancorp, Inc. (OTC: IDFB) reported unaudited financial results for Q2 2022, showing after-tax net income of $1.21 million for the first half of the year. Compared to 2021, net interest income declined by $2.8 million, mainly due to a decrease in Paycheck Protection Program (PPP) interest income. The loan portfolio reached $433 million, with growth of $105 million excluding PPP. Deposits increased to $476 million. The allowance for loan losses was $5.1 million, representing 1.2% of non-PPP loans, indicating strong credit quality and disciplined underwriting.

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Peak Bancorp, Inc. (OTC: IDFB) reported a first-quarter 2022 net income of $617,000, impacted by $165,000 in merger-related expenses. The book value per share rose to $7.90 from $7.20 a year earlier. The company's loan portfolio grew to $411 million, with a $96 million increase excluding Paycheck Protection Program (PPP) loans. Deposits reached $477 million, up by $87 million from the previous year. Strong credit quality was maintained, with a $4.7 million allowance for loan losses, representing 1.2% of loans (excluding PPP).

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Peak Bancorp, Inc. (OTC: IDFB) announced a definitive agreement to sell 100% of its shares to BAWAG Group for $65 million, translating to a diluted per share price of $12.05, pending shareholder and regulatory approval. The acquisition aims to enhance BAWAG Group's presence in the U.S. market, particularly in community banking, leveraging Idaho First Bank's operational support and market expertise. Both companies emphasize a commitment to growth in Idaho while providing value to shareholders.

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Peak Bancorp, Inc. (OTC: IDFB) announced a definitive agreement to sell 100% of its shares to BAWAG Group for $65 million, equating to a diluted price of $12.05 per share. The deal requires shareholder and regulatory approval. BAWAG aims to leverage Idaho First Bank's community banking model to expand its presence in the U.S. and enhance operational support. Peak Bancorp's CEO expressed enthusiasm about the transaction, emphasizing opportunities for growth and service enhancement for customers and shareholders.

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FAQ

What is the market cap of Peak Bancorp (IDFB)?

The market cap of Peak Bancorp (IDFB) is approximately 9.5M.

Where is Peak Bancorp, Inc., headquartered?

Peak Bancorp, Inc., is headquartered in McCall, Idaho.

What is the motto of Idaho First Bank?

Idaho First Bank is known for its People First motto.

How many branches does Idaho First Bank have?

Idaho First Bank serves greater southwest Idaho with branches located in McCall, New Meadows, Eagle, Ketchum, Nampa, Boise, and Bend, Oregon.

What does Peak Bancorp, Inc., focus on?

Peak Bancorp, Inc., focuses on quality relationships with customers, financial performance, and credit portfolio metrics.

Who are the key executives at Peak Bancorp, Inc.?

Todd Cooper serves as the President and CEO of Peak Bancorp, Inc.

What are the key achievements of Peak Bancorp, Inc., in 2023?

The company has seen strong financial performance and results for the first half of 2023.

How does Peak Bancorp, Inc., support its growing loan balances?

The company funds the Allowance for Credit Loss and maintains credit discipline and proactive credit monitoring to support its growing loan balances.

What are the key factors impacting Peak Bancorp, Inc.'s financial performance?

Economic conditions, regulatory environment, loan concentrations, technology, competition, and interest rates are key factors impacting the company's financial performance.

Is Idaho First Bank a member of FDIC?

Yes, Idaho First Bank is a member of the FDIC and an Equal Housing Lender.

How can I contact Todd Cooper, the CEO of Peak Bancorp, Inc.?

You can contact Todd Cooper at 208.630.2092 or tcooper@idahofirstbank.com.

Peak Bancorp, Inc.

OTC:IDFB

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IDFB Stock Data

9.51M
5.29M
Banks - Regional
Financial Services
Link
United States
McCall