Kish Bancorp, Inc. Reports Net Income of $4.2 Million in the Third Quarter of 2024 and $10.4 Million in the First Nine Months of 2024
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) ha riportato risultati finanziari solidi per il terzo trimestre del 2024 e per i primi nove mesi dell'anno. I punti salienti includono:
- Utile netto del terzo trimestre 2024 di 4,2 milioni di dollari (1,41 dollari per azione), rispetto ai 3,5 milioni di dollari del terzo trimestre 2023
- Utile netto nei primi nove mesi di 10,4 milioni di dollari (3,53 dollari per azione), rispetto ai 10,0 milioni di dollari del 2023
- Totale attivi aumentato del 12,9% su base annua a 1,7 miliardi di dollari
- I prestiti netti sono cresciuti del 18,5%, raggiungendo 1,4 miliardi di dollari
- I depositi totali sono aumentati del 15,3% a 1,3 miliardi di dollari
- Il margine di interesse netto del Q3 è aumentato al 3,30%
- ROE del 13,89% e ROA dell'1,01% nel Q3
- Il valore contabile tangibile per azione è aumentato dell'11,3% a 34,04 dollari
L'azienda ha mantenuto solidi rapporti patrimoniali e ha dichiarato un dividendo trimestrale di 0,39 dollari per azione, rappresentando un aumento del 5% rispetto al trimestre precedente.
Kish Bancorp, Inc. (OTCQX: KISB) reportó resultados financieros fuertes para el tercer trimestre de 2024 y los primeros nueve meses del año. Los aspectos más destacados incluyen:
- Ingreso neto en el tercer trimestre de 2024 de 4.2 millones de dólares (1.41 dólares por acción), por encima de los 3.5 millones de dólares en el tercer trimestre de 2023
- Ingreso neto de nueve meses de 10.4 millones de dólares (3.53 dólares por acción), comparado con 10.0 millones de dólares en 2023
- Los activos totales aumentaron un 12.9% interanual a 1.7 mil millones de dólares
- Los préstamos netos crecieron un 18.5% a 1.4 mil millones de dólares
- Los depósitos totales aumentaron un 15.3% a 1.3 mil millones de dólares
- El margen de interés neto del Q3 se amplió al 3.30%
- ROE del 13.89% y ROA del 1.01% en el Q3
- El valor contable tangible por acción aumentó un 11.3% a 34.04 dólares
La empresa mantuvo ratios de capital sólidos y declaró un dividendo trimestral de 0.39 dólares por acción, lo que representa un aumento del 5% respecto al trimestre anterior.
Kish Bancorp, Inc. (OTCQX: KISB)는 2024년 3분기 및 올해의 첫 9개월 동안 강력한 재무 실적을 보고했습니다. 주요 내용은 다음과 같습니다:
- 2024년 3분기 순이익 420만 달러(주당 1.41달러), 2023년 3분기의 350만 달러에서 증가
- 9개월 순이익 1040만 달러(주당 3.53달러), 2023년의 1000만 달러에 비해 증가
- 총 자산이 전년 대비 12.9% 증가하여 17억 달러에 도달
- 순 대출이 18.5% 증가하여 14억 달러에 도달
- 총 예금이 15.3% 증가하여 13억 달러에 도달
- 3분기 순이자 마진이 3.30%로 확대
- 3분기 ROE가 13.89% 및 ROA가 1.01%
- 주당 유형 자산 가치가 11.3% 증가하여 34.04달러
회사는 강력한 자본 비율을 유지하며, 분기 배당금으로 주당 0.39달러를 선언하여 이전 분기 대비 5% 증가했습니다.
Kish Bancorp, Inc. (OTCQX: KISB) a rapporté de bons résultats financiers pour le troisième trimestre 2024 et les neuf premiers mois de l'année. Les points forts incluent :
- Revenu net du troisième trimestre 2024 de 4,2 millions de dollars (1,41 dollar par action), en hausse par rapport à 3,5 millions de dollars au troisième trimestre 2023
- Revenu net de neuf mois de 10,4 millions de dollars (3,53 dollars par action), contre 10,0 millions de dollars en 2023
- Les actifs totaux ont augmenté de 12,9 % d'une année sur l'autre pour atteindre 1,7 milliard de dollars
- Les prêts nets ont augmenté de 18,5 % pour atteindre 1,4 milliard de dollars
- Les dépôts totaux ont augmenté de 15,3 % pour atteindre 1,3 milliard de dollars
- La marge d'intérêt nette du T3 s'est élargie à 3,30 %
- ROE de 13,89 % et ROA de 1,01 % au T3
- La valeur comptable tangible par action a augmenté de 11,3 % pour atteindre 34,04 dollars
L'entreprise a maintenu de solides ratios de capital et a déclaré un dividende trimestriel de 0,39 dollar par action, représentant une augmentation de 5 % par rapport au trimestre précédent.
Kish Bancorp, Inc. (OTCQX: KISB) hat starke Finanzergebnisse für das 3. Quartal 2024 und die ersten neun Monate des Jahres vermeldet. Die wichtigsten Punkte sind:
- Nettoeinkommen im 3. Quartal 2024 von 4,2 Millionen US-Dollar (1,41 US-Dollar pro Aktie), gegenüber 3,5 Millionen US-Dollar im 3. Quartal 2023
- Neunmonats-Nettoeinkommen von 10,4 Millionen US-Dollar (3,53 US-Dollar pro Aktie), verglichen mit 10,0 Millionen US-Dollar im Jahr 2023
- Die Gesamtaktiva stiegen um 12,9% im Jahresvergleich auf 1,7 Milliarden US-Dollar
- Netto-Darlehen wuchsen um 18,5% auf 1,4 Milliarden US-Dollar
- Gesamt-Einlagen erhöhten sich um 15,3% auf 1,3 Milliarden US-Dollar
- Der Nettozinsmarge im Q3 erweiterte sich auf 3,30%
- ROE von 13,89% und ROA von 1,01% im Q3
- Der tangible Buchwert pro Aktie stieg um 11,3% auf 34,04 US-Dollar
Das Unternehmen wies starke Kapitalquoten auf und erklärte eine vierteljährliche Dividende von 0,39 US-Dollar pro Aktie, was einem Anstieg von 5% gegenüber dem vorherigen Quartal entspricht.
- Net income increased to $4.2 million in Q3 2024, up from $3.5 million in Q3 2023
- Total assets grew 12.9% year-over-year to $1.7 billion
- Net loans increased 18.5% to $1.4 billion
- Total deposits rose 15.3% to $1.3 billion
- Net interest margin expanded to 3.30% in Q3 2024
- Strong Q3 ROE of 13.89% and ROA of 1.01%
- Tangible book value per share increased 11.3% to $34.04
- Quarterly dividend increased by 5% to $0.39 per share
- Provision for credit losses increased to $665,000 in Q3 2024, compared to $51,000 in Q3 2023
- Noninterest expense increased 9.4% year-over-year to $10.7 million in Q3 2024
- Efficiency ratio for the first nine months of 2024 increased to 71.7% from 70.6% in the same period of 2023
Results for the third quarter of 2024 included a
“We continued our upward momentum into the third quarter, producing strong net income, double-digit loan and deposit growth, an annualized return on average assets of
Third Quarter 2024 Financial Highlights:
-
Total assets increased
, or$190.7 million 12.9% , to at September 30, 2024, compared to$1.7 billion a year ago.$1.5 billion -
Total deposits increased
year over year, or$172.2 million 15.3% , as Kish Bank continued to attract new client relationships. -
Net loans grew by
, or$213.2 million 18.5% , year over year to .$1.4 billion -
Third quarter net interest income, before provision, increased
, or$1.9 million 18.0% , compared to the third quarter a year ago. -
Noninterest income increased
, or$449 thousand 13.8% , compared to the year ago quarter. -
Third quarter net interest margin expanded eight basis points from the third quarter a year ago to
3.30% . -
Continued strong third quarter ROE of
13.89% and ROA of1.01% . -
Tangible book value per share increased
11.3% to , compared to$34.04 a year ago.$30.58 -
Paid a
per share quarterly cash dividend on July 31, 2024, to shareholders of record as of July 15, 2024.$0.37 -
At September 30, 2024, Kish Bank continued to exceed regulatory well-capitalized requirements with a Tier 1 leverage ratio of
9.00% , a Tier 1 capital ratio of9.95% and a Total risk-based capital ratio of10.66% .
Balance Sheet
“Loan growth had another robust quarter, with total loans outstanding up by
Total assets ended the quarter at
Total deposits grew by
“Kish is always looking for new and innovative ways to reach our customers and expand our deposit franchise,” said President and CEO Hayes. “Since this spring, we have opened our newest transformative banking solution, ATM + Live Banker, at eight locations in
Stockholders’ equity increased
Kish Bank continues to maintain capital levels in excess of the requirements to be categorized as “well-capitalized” with a Tier 1 leverage ratio of
Operating Results
In the third quarter of 2024, Kish generated a return on average common equity of
Net interest income, before the provision for credit losses, increased
The Company’s net interest margin was
Primarily due to adjustments dictated by the Company’s CECL accounting model and robust loan growth, the Company recorded a
Third quarter noninterest income increased
Noninterest expense increased
The efficiency ratio for the third quarter of 2024 was
In the third quarter of 2024, the Company recorded
Credit Quality
The allowance for credit losses represented
Net loan recoveries totaled
Dividend
On October 1, the Board of Directors declared a quarterly dividend in the amount of
About Kish Bancorp, Inc.
Kish Bancorp, Inc. is a diversified financial services corporation headquartered in
In June of 2024, Kish Bancorp, Inc. was ranked 38th on American Banker Magazine’s list of Top 100 Publicly Traded Community Banks and Thrifts based on three-year average return on equity as of December 31, 2023. The rankings are derived from all publicly traded banks and thrifts in the
Forward Looking Statements
Certain statements regarding Kish Bancorp, Inc. set forth in this document and any related materials, as well as in related oral and written presentations, contain forward-looking information and speak only as of the date of such statement. You can identify these statements by the fact that they use words such as “will,” “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” “target,” “forecast” and other words and terms of similar meaning in connection with any discussion of future operating or financial performance or business plans and prospects. This forward-looking information is subject to numerous material risks, uncertainties and assumptions, certain of which are beyond the control of Kish Bancorp, including the impact of general economic conditions, industry conditions, competition from other industry participants, the effect of federal, state and local regulation on financial institutions, market volatility and ability to access sufficient capital from internal and external sources. Readers are cautioned that the material assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and actual results, performance or achievement could differ materially from those expressed in, or implied by, this forward-looking information and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits that Kish Bancorp will derive therefrom. Kish Bancorp disclaims any intention or obligation to update or revise any forward-looking information, whether, because of new information, future events or otherwise, except as required by applicable securities laws.
Consolidated Balance Sheet | |||||||||||
(Unaudited; in thousands) | |||||||||||
Sep. 30, 2024 |
Jun. 30, 2024 |
Sep. 30, 2023 |
|||||||||
ASSETS | |||||||||||
Cash and due from banks | $ |
16,172 |
|
$ |
10,894 |
|
$ |
11,803 |
|
||
Interest-bearing deposits with other institutions |
|
5,400 |
|
|
4,390 |
|
|
23,537 |
|
||
Cash and cash equivalents |
|
21,572 |
|
|
15,284 |
|
|
35,340 |
|
||
Certificates of deposit on other financial institutions |
|
- |
|
|
245 |
|
|
245 |
|
||
Investment securities available for sale |
|
169,473 |
|
|
170,363 |
|
|
172,624 |
|
||
Equity securities |
|
2,594 |
|
|
2,395 |
|
|
2,454 |
|
||
Investment securities held to maturity |
|
11,001 |
|
|
10,889 |
|
|
11,005 |
|
||
Loans held for sale |
|
2,566 |
|
|
2,066 |
|
|
811 |
|
||
Loans |
|
1,372,000 |
|
|
1,319,175 |
|
|
1,157,205 |
|
||
Less allowance for credit losses |
|
8,715 |
|
|
8,086 |
|
|
7,167 |
|
||
Net Loans |
|
1,363,285 |
|
|
1,311,089 |
|
|
1,150,038 |
|
||
Premises and equipment |
|
27,557 |
|
|
27,103 |
|
|
27,712 |
|
||
Goodwill |
|
3,561 |
|
|
3,561 |
|
|
3,561 |
|
||
Regulatory stock |
|
8,361 |
|
|
7,034 |
|
|
9,494 |
|
||
Bank-owned life insurance |
|
24,846 |
|
|
24,661 |
|
|
24,127 |
|
||
Accrued interest and other assets |
|
29,979 |
|
|
37,161 |
|
|
36,720 |
|
||
TOTAL ASSETS | $ |
1,664,795 |
|
$ |
1,611,851 |
|
$ |
1,474,131 |
|
||
LIABILITIES | |||||||||||
Noninterest-bearing deposits |
|
175,998 |
|
|
181,883 |
|
|
182,581 |
|
||
Interest-bearing deposits |
|
1,120,486 |
|
|
1,088,087 |
|
|
941,655 |
|
||
Total Deposits |
|
1,296,484 |
|
|
1,269,970 |
|
|
1,124,236 |
|
||
Borrowings |
|
233,308 |
|
|
203,812 |
|
|
222,008 |
|
||
Accrued interest and other liabilities |
|
30,665 |
|
|
39,096 |
|
|
43,397 |
|
||
TOTAL LIABILITIES |
|
1,560,457 |
|
|
1,512,878 |
|
|
1,389,641 |
|
||
STOCKHOLDERS' EQUITY | |||||||||||
Common stock, |
|
1,511 |
|
|
1,511 |
|
|
1,443 |
|
||
Additional paid-in capital |
|
14,158 |
|
|
14,101 |
|
|
9,812 |
|
||
Retained earnings |
|
104,016 |
|
|
100,941 |
|
|
94,459 |
|
||
Accumulated other comprehensive income |
|
(12,093 |
) |
|
(14,071 |
) |
|
(18,028 |
) |
||
Treasury stock, at cost (56,900, 60,137 and 56,900 shares) |
|
(3,254 |
) |
|
(3,509 |
) |
|
(3,196 |
) |
||
TOTAL STOCKHOLDERS' EQUITY |
|
104,338 |
|
|
98,973 |
|
|
84,490 |
|
||
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ |
1,664,795 |
|
$ |
1,611,851 |
|
$ |
1,474,131 |
|
CONSOLIDATED STATEMENT OF INCOME | ||||||||||||||||||||
(Unaudited; in thousands) | ||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||
Sep. 30, 2024 |
Jun. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2024 |
Sep. 30, 2023 |
||||||||||||||||
INTEREST AND DIVIDEND INCOME | ||||||||||||||||||||
Interest and fees on loans: | ||||||||||||||||||||
Taxable | $ |
22,099 |
$ |
20,574 |
|
$ |
17,208 |
|
$ |
62,194 |
$ |
47,134 |
|
|||||||
Exempt from federal income tax |
|
277 |
|
|
263 |
|
|
194 |
|
|
796 |
|
|
583 |
|
|||||
Investment securities | ||||||||||||||||||||
Taxable |
|
1,229 |
|
|
1,238 |
|
|
1,308 |
|
|
3,733 |
|
|
3,881 |
|
|||||
Exempt from federal income tax |
|
58 |
|
|
59 |
|
|
49 |
|
|
170 |
|
|
154 |
|
|||||
Interest-bearing deposits with other institutions |
|
62 |
|
|
80 |
|
|
99 |
|
|
231 |
|
|
334 |
|
|||||
Other dividend income |
|
224 |
|
|
222 |
|
|
198 |
|
|
698 |
|
|
700 |
|
|||||
TOTAL INTEREST AND DIVIDEND INCOME |
|
23,949 |
|
|
22,436 |
|
|
19,056 |
|
|
67,822 |
|
|
52,786 |
|
|||||
INTEREST EXPENSE | ||||||||||||||||||||
Deposits |
|
8,849 |
|
|
8,318 |
|
|
5,876 |
|
|
24,548 |
|
|
14,263 |
|
|||||
Borrowings |
|
2,346 |
|
|
2,043 |
|
|
2,367 |
|
|
7,038 |
|
|
6,190 |
|
|||||
TOTAL INTEREST EXPENSE |
|
11,195 |
|
|
10,361 |
|
|
8,243 |
|
|
31,586 |
|
|
20,453 |
|
|||||
NET INTEREST INCOME |
|
12,754 |
|
|
12,075 |
|
|
10,813 |
|
|
36,236 |
|
|
32,333 |
|
|||||
Provision for credit losses |
|
665 |
|
|
467 |
|
|
51 |
|
|
1,245 |
|
|
136 |
|
|||||
NET INTEREST INCOME AFTER | ||||||||||||||||||||
PROVISION FOR CREDIT LOSSES |
|
12,089 |
|
|
11,608 |
|
|
10,762 |
|
|
34,991 |
|
|
32,197 |
|
|||||
NONINTEREST INCOME | ||||||||||||||||||||
Service fees on deposit accounts |
|
652 |
|
|
620 |
|
|
585 |
|
|
1,855 |
|
|
1,744 |
|
|||||
Equity securities (losses) gains, net |
|
263 |
|
|
(57 |
) |
|
(53 |
) |
|
57 |
|
|
(404 |
) |
|||||
Gain on sale of loans, net |
|
135 |
|
|
108 |
|
|
91 |
|
|
317 |
|
|
255 |
|
|||||
Earnings on Bank-owned life insurance |
|
183 |
|
|
179 |
|
|
161 |
|
|
538 |
|
|
474 |
|
|||||
Insurance commissions |
|
810 |
|
|
675 |
|
|
791 |
|
|
2,419 |
|
|
2,402 |
|
|||||
Travel agency commissions |
|
33 |
|
|
60 |
|
|
107 |
|
|
112 |
|
|
220 |
|
|||||
Wealth management |
|
949 |
|
|
612 |
|
|
795 |
|
|
2,501 |
|
|
2,028 |
|
|||||
Benefits consulting |
|
161 |
|
|
179 |
|
|
159 |
|
|
485 |
|
|
478 |
|
|||||
Other |
|
509 |
|
|
225 |
|
|
610 |
|
|
935 |
|
|
1,286 |
|
|||||
TOTAL NONINTEREST INCOME |
|
3,695 |
|
|
2,601 |
|
|
3,246 |
|
|
9,219 |
|
|
8,483 |
|
|||||
NONINTEREST EXPENSE | ||||||||||||||||||||
Salaries and employee benefits |
|
6,435 |
|
|
6,162 |
|
|
5,752 |
|
|
19,028 |
|
|
17,041 |
|
|||||
Occupancy and equipment |
|
1,030 |
|
|
1,025 |
|
|
1,019 |
|
|
3,062 |
|
|
2,903 |
|
|||||
Data processing |
|
1,234 |
|
|
1,157 |
|
|
1,129 |
|
|
3,528 |
|
|
3,078 |
|
|||||
Professional fees |
|
175 |
|
|
207 |
|
|
199 |
|
|
532 |
|
|
555 |
|
|||||
Advertising |
|
123 |
|
|
115 |
|
|
154 |
|
|
354 |
|
|
459 |
|
|||||
Federal deposit insurance |
|
319 |
|
|
341 |
|
|
234 |
|
|
952 |
|
|
637 |
|
|||||
Other |
|
1,402 |
|
|
1,410 |
|
|
1,309 |
|
|
4,227 |
|
|
4,033 |
|
|||||
TOTAL NONINTEREST EXPENSE |
|
10,718 |
|
|
10,417 |
|
|
9,796 |
|
|
31,683 |
|
|
28,706 |
|
|||||
INCOME BEFORE INCOME TAXES |
|
5,066 |
|
|
3,792 |
|
|
4,212 |
|
|
12,527 |
|
|
11,974 |
|
|||||
Income taxes |
|
896 |
|
|
646 |
|
|
717 |
|
|
2,127 |
|
|
1,952 |
|
|||||
NET INCOME | $ |
4,170 |
|
$ |
3,146 |
|
$ |
3,495 |
|
$ |
10,400 |
|
$ |
10,022 |
|
ADDITIONAL FINANCIAL INFORMATION | ||||||||||||||||||||
(Dollars and shares in thousands except per share amounts)(Unaudited) | ||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||
Sep. 30, 2024 |
Jun. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2024 |
Sep. 30, 2023 |
||||||||||||||||
PERFORMANCE MEASURES AND RATIOS | ||||||||||||||||||||
Return on average common equity |
|
13.89 |
% |
|
10.54 |
% |
|
11.61 |
% |
|
11.77 |
% |
|
13.36 |
% |
|||||
Return on average assets |
|
1.01 |
% |
|
0.79 |
% |
|
0.84 |
% |
|
0.87 |
% |
|
0.95 |
% |
|||||
Efficiency ratio |
|
67.91 |
% |
|
73.32 |
% |
|
69.93 |
% |
|
71.66 |
% |
|
70.57 |
% |
|||||
Net interest margin |
|
3.30 |
% |
|
3.29 |
% |
|
3.22 |
% |
|
3.26 |
% |
|
3.35 |
% |
|||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||
Sep. 30, 2024 |
Jun. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2024 |
Sep. 30, 2023 |
||||||||||||||||
AVERAGE BALANCES | ||||||||||||||||||||
Average assets | $ |
1,634,071 |
|
$ |
1,578,036 |
|
$ |
1,431,116 |
|
$ |
1,558,467 |
|
$ |
1,362,588 |
|
|||||
Average earning assets |
|
1,534,946 |
|
|
1,477,644 |
|
|
1,331,334 |
|
|
1,485,613 |
|
|
1,289,717 |
|
|||||
Average total loans |
|
1,346,713 |
|
|
1,288,486 |
|
|
1,131,332 |
|
|
1,293,843 |
|
|
1,085,645 |
|
|||||
Average deposits |
|
1,271,823 |
|
|
1,243,367 |
|
|
1,090,200 |
|
|
1,227,042 |
|
|
1,066,201 |
|
|||||
Average common equity |
|
112,093 |
|
|
107,134 |
|
|
93,070 |
|
|
109,000 |
|
|
90,579 |
|
|||||
Sep. 30, 2024 |
Jun. 30, 2024 |
Sep. 30, 2023 |
||||||||||||||||||
EQUITY ANALYSIS | ||||||||||||||||||||
Total common equity | $ |
113,680 |
|
$ |
110,281 |
|
$ |
100,101 |
|
|||||||||||
Common stock outstanding |
|
3,022,127 |
|
|
3,022,127 |
|
|
2,885,941 |
|
|||||||||||
Book value per share | $ |
35.46 |
|
$ |
33.75 |
|
$ |
31.99 |
|
|||||||||||
Tangible book value per share | $ |
34.04 |
|
$ |
32.32 |
|
$ |
30.58 |
|
|||||||||||
ASSET QUALITY | ||||||||||||||||||||
Nonaccrual loans | $ |
501 |
|
$ |
599 |
|
$ |
445 |
|
|||||||||||
Loans 90 days past due and still accruing |
|
179 |
|
|
42 |
|
|
161 |
|
|||||||||||
Total nonperforming loans | $ |
680 |
|
$ |
641 |
|
$ |
606 |
|
|||||||||||
Other real estate owned and other repossessed assets |
|
- |
|
|
- |
|
|
- |
|
|||||||||||
Total nonperforming assets | $ |
680 |
|
$ |
641 |
|
$ |
606 |
|
|||||||||||
nonperforming loans/portfolio loans |
|
0.05 |
% |
|
0.05 |
% |
|
0.05 |
% |
|||||||||||
nonperforming assets/assets |
|
0.04 |
% |
|
0.04 |
% |
|
0.04 |
% |
|||||||||||
Allowance for credit losses | $ |
8,715 |
|
$ |
8,086 |
|
$ |
7,167 |
|
|||||||||||
Plus: Reserve for undisbursed loan commitments |
|
1,824 |
|
|
1,758 |
|
|
1,584 |
|
|||||||||||
Total allowance for credit losses | $ |
10,539 |
|
$ |
9,844 |
|
$ |
8,751 |
|
|||||||||||
Allowance for credit losses/portfolio loans |
|
0.77 |
% |
|
0.75 |
% |
|
0.76 |
% |
|||||||||||
Allowance for credit losses/nonperforming loans |
|
1549.85 |
% |
|
1535.73 |
% |
|
1444.06 |
% |
|||||||||||
Net loan (recoveries) charge-offs for the quarter | $ |
(30 |
) |
$ |
5 |
|
$ |
- |
|
|||||||||||
Sep. 30, 2024 |
Jun. 30, 2024 |
Sep. 30, 2023 |
||||||||||||||||||
KISH BANK | ||||||||||||||||||||
Tier 1 leverage ratio |
|
9.00 |
% |
|
9.00 |
% |
|
8.88 |
% |
|||||||||||
Tier 1 capital ratio |
|
9.95 |
% |
|
9.90 |
% |
|
9.95 |
% |
|||||||||||
Total capital ratio |
|
10.66 |
% |
|
10.59 |
% |
|
10.63 |
% |
|||||||||||
Sep. 30, 2024 |
Jun. 30, 2024 |
Sep. 30, 2023 |
||||||||||||||||||
INTEREST SPREAD ANALYSIS | ||||||||||||||||||||
Yield on total loans |
|
6.63 |
% |
|
6.52 |
% |
|
6.12 |
% |
|||||||||||
Yield on investments |
|
2.82 |
% |
|
2.88 |
% |
|
2.83 |
% |
|||||||||||
Yield on interest earning deposits |
|
8.53 |
% |
|
8.65 |
% |
|
7.58 |
% |
|||||||||||
Yield on earning assets |
|
6.19 |
% |
|
6.09 |
% |
|
5.65 |
% |
|||||||||||
Cost of interest-bearing deposits |
|
3.21 |
% |
|
3.13 |
% |
|
2.54 |
% |
|||||||||||
Cost of total deposits |
|
2.77 |
% |
|
2.69 |
% |
|
2.14 |
% |
|||||||||||
Cost of borrowings |
|
4.14 |
% |
|
4.17 |
% |
|
4.27 |
% |
|||||||||||
Cost of interest-bearing liabilities |
|
3.37 |
% |
|
3.29 |
% |
|
2.88 |
% |
|||||||||||
Cost of funds |
|
2.82 |
% |
|
2.89 |
% |
|
2.77 |
% |
View source version on businesswire.com: https://www.businesswire.com/news/home/20241017057023/en/
Mark J. Cvrkel, EVP, Treasurer and Chief Financial Officer, 814-325-7346
Source: Kish Bancorp, Inc.
FAQ
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