INFINITY BANCORP - INFT STOCK NEWS

Infinity Bancorp (OTCQB:INFT) announced its Q2 2024 financial results, highlighting several key developments:

• Completed a stock offering, raising $4.75 million by selling 380,000 shares
• Paid a dividend of $0.07 per share
• Total loans increased by 5.92% since December 31, 2023
• Net income rose 10.1% from Q1 2024 to $903,000
• Total deposits reached $257.6 million, with non-interest-bearing demand accounts comprising 55% of total deposits
• Net interest margin improved to 5.63%, up 35 basis points from Q1 2024
• The company remains well-capitalized with a tier 1 leverage ratio of 12.40%

Despite economic uncertainties, Infinity Bancorp maintained a cautious approach to credit risk management while focusing on loan growth and deposit stability.

Infinity Bancorp (OTCQB:INFT), the holding company for Infinity Bank, has announced a quarterly cash dividend of $0.07 per common share. The dividend is payable on August 26, 2024 to shareholders of record on August 12, 2024. Infinity Bank, the sole subsidiary of Infinity Bancorp, is a community bank that began operations in February 2018. The bank focuses on serving the banking needs of commercial businesses, professional service entities, and their associated individuals. It offers a range of depository products and services, as well as business loan and commercial real estate financing products tailored to each client's needs.

Infinity Bancorp announced their financial results for the first quarter of 2024, highlighting a dividend of $0.07 per share paid, total liquidity of $117 million, total loans increasing by $7.5 million, total deposits increasing by $12.7 million, and earnings per share increasing to $0.30 per share. The Company also declared a $0.07 cash dividend and made additional provisions to the Allowance for Credit Losses during the quarter. Yields on total loans increased to 9.39%, deposits totaled $262.3 million, non-interest income decreased, non-interest expense increased, income tax expense increased, and net income increased to $820 thousand. The Company remains well-capitalized with a tier 1 leverage ratio of 12.28%, tier 1 risk-based capital ratio of 15.67%, and a total risk-based capital ratio of 18.57%.

Infinity Bancorp, the holding company for Infinity Bank, announced a quarterly cash dividend of $0.07 per common share, payable on May 30, 2024, to shareholders of record on May 16, 2024. The Bank focuses on serving commercial businesses, professional service entities, owners, employees, and families.

Infinity Bancorp (INFT) announced its financial results for the fourth quarter of 2023, reporting a high total liquidity of $107 million, a net income increase to $3.9 million, and a year-to-date earnings per share increase to $1.19. The company also declared a $0.07 cash dividend to shareholders and made an additional provision to the Allowance for Credit Losses of $1.0 million. Total loans increased to $194.3 million, while total deposits equaled $249.7 million. The company borrowed $15.0 million from the FHLB and entered into a line of credit agreement to repurchase shares of its outstanding common stock. Net-interest income was $3.7 million, and non-interest income totaled $126 thousand. Non-interest expense decreased to $2.2 million, and the income tax expense decreased to $140 thousand for the fourth quarter of 2023. The company's net income for the year ended December 31, 2023, increased to $3.9 million, and the return on average assets and equity improved. The company remains well-capitalized with a tier 1 leverage ratio of 13.3%, tier 1 risk-based capital ratio of 15.5%, and a total risk-based capital ratio of 18.4%.

Infinity Bancorp, the holding company for Infinity Bank, reported financial results for Q3 2023. Highlights include a total liquidity of $138 million, net interest margin increase to 5.46%, and net income of $3.6 million for the nine months ended September 30, 2023.

Infinity Bancorp (OTCQB:INFT) reported strong financial results for the year ending December 31, 2022, highlighting a 90% increase in net income for Q4 compared to Q3, and a 212% rise year-over-year. Total assets grew by $13.3 million and total deposits increased $13.8 million year-over-year. The yield on total loans improved to 8.48%, up from 6.93% a year prior, reflecting the impact of rising interest rates. However, total deposits saw a 5.0% decline from Q3. The Bank maintains strong capital ratios, exceeding regulatory requirements, with a Tier 1 risk-based capital ratio of 15.2% as of the end of 2022.