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Kish Bancorp, Inc. (OTCQX: KISB) reported strong financial results for Q3 2024 and the first nine months of the year. Key highlights include:
- Q3 2024 net income of $4.2 million ($1.41 per share), up from $3.5 million in Q3 2023
- Nine-month net income of $10.4 million ($3.53 per share), compared to $10.0 million in 2023
- Total assets increased 12.9% year-over-year to $1.7 billion
- Net loans grew 18.5% to $1.4 billion
- Total deposits increased 15.3% to $1.3 billion
- Q3 net interest margin expanded to 3.30%
- ROE of 13.89% and ROA of 1.01% in Q3
- Tangible book value per share increased 11.3% to $34.04
The company maintained strong capital ratios and declared a quarterly dividend of $0.39 per share, representing a 5% increase from the prior quarter.
Kish Bancorp, Inc. (OTCQX: KISB), the parent company of Kish Bank, has announced a 5% increase in its regular quarterly cash dividend. The Board of Directors approved a $0.02 increase, bringing the dividend to $0.39 per share. This marks the ninth consecutive year of dividend increases for Kish. The dividend will be payable on October 31, 2024, to shareholders of record as of October 15, 2024. William P. Hayes, Executive Chairman, attributed this increase to the company's continued profitable operations. Notably, Kish has maintained an uninterrupted streak of dividend payments since 1987, demonstrating its long-standing commitment to shareholder returns.
Kish Bancorp (OTCQX: KISB) reported net income of $3.2 million ($1.06 per share) for Q2 2024 and $6.2 million ($2.12 per share) for H1 2024. Key highlights include:
- Total assets increased 13.2% YoY to $1.6 billion
- Net loans grew 18.3% YoY to $1.3 billion
- Deposits increased 16.4% YoY to $1.3 billion
- Q2 net interest income up 11.1% YoY
- Q2 net interest margin expanded to 3.29%
- ROE of 10.54% and ROA of 0.79% in Q2
- Tangible book value per share up 8.7% YoY to $32.32
The bank maintains strong capital ratios and credit quality, with a $0.37 quarterly dividend declared.
Kish Bancorp (OTCQX: KISB), the parent company of Kish Bank, has declared a quarterly cash dividend of $0.37 per share. This dividend is payable on July 31, 2024, to shareholders of record as of July 15, 2024. The announcement was made by the Board of Directors on July 1, 2024. This decision reflects the company's commitment to returning value to its shareholders.
Kish Bancorp (OTCQX: KISB), the parent company of Kish Bank, has been named to American Banker magazine's annual list of the Top 100 Publicly Traded Community Banks and Thrifts under $2 billion in asset size.
Ranked 38th, the listing is based on a three-year average return on equity (ROE) as of December 31, 2023, according to Capital Performance Group.
This marks the 16th time in the past 17 years that Kish Bancorp has been included in this prestigious list. The company attributes its consistent recognition to its dedicated staff and their focus on customer and community performance, amid a backdrop of double-digit average annual growth in total assets.
Kish Bancorp (KISB), located in State College, announces a live presentation at VirtualInvestorConferences.com on March 11, 2021, at 10:30 a.m. ET. Top executives, including Chairman William P. Hayes and President Gregory T. Hayes, will engage with investors in real-time. Notable company highlights include a 14.72% year-over-year net income increase and successful delivery of over 800 PPP loans. An archived webcast will be available post-event for those unable to attend live. Investors are encouraged to pre-register for the event.
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