Welcome to our dedicated page for Ks Bancorp news (Ticker: KSBI), a resource for investors and traders seeking the latest updates and insights on Ks Bancorp stock.
Overview and Core Business
KS Bancorp Inc. (KSBI) is a well-established community bank holding company based in Smithfield, North Carolina. Through its sole subsidiary, KS Bank Inc., the company has provided a wide range of financial services including personal and business banking, mortgage products, and trust services since its founding in 1924. As a full-service, state‐chartered savings bank, KS Bank is dedicated to creating long-term relationships with its customers, offering personalized banking experiences that emphasize trust, reliability, and community support.
Market Position and Services
KS Bancorp has carved its niche within the competitive landscape of the community banking sector by focusing on exceptional customer service and maintaining a strong local presence. The bank offers a broad spectrum of products that cater to both individual customers and small to mid-sized businesses. These include traditional deposit products, business loans, and specialized mortgage and trust services, all designed to enhance customer financial stability and foster community development. The company’s operational strategy revolves around creating value for its shareholders while driving sustainable, profitable growth through community enrichment and professional development of its employees.
Business Model and Revenue Generation
At its core, KS Bancorp’s business model is anchored in community banking principles that balance revenue generation and risk management. The bank earns interest income from its diverse loan portfolio while simultaneously obtaining noninterest fee-based income from its suite of banking services. This dual revenue stream ensures that the bank can provide a stable array of services regardless of market fluctuations. The focus on disciplined underwriting and sound asset quality allows KS Bank to successfully manage credit and operational risks while continuing to support its customers’ financial needs.
Community Engagement and Customer Relationships
One of the key differentiators for KS Bancorp is its commitment to the communities it serves. The bank builds strong personal relationships with customers, providing tailored financial solutions that not only address immediate banking requirements but also support long-term economic development. By engaging with local civic leaders and participating in community initiatives, KS Bancorp reinforces its role as a trusted local partner, dedicated to enhancing the financial well-being of the region.
Operational Excellence and Risk Management
Operational efficiency and effective risk management are integral to KS Bancorp’s strategy. The company has developed rigorous processes in credit underwriting and asset quality management to maintain a resilient financial position. This disciplined approach is evident in its careful management of assets and deposits, ensuring that both growth and risk are balanced adeptly. With a focus on quality over quantity, KS Bank has successfully maintained a favorable portfolio and a strong capital base, both of which underpin its steady performance over decades of operation.
Industry-Specific Insights
Within the realm of community banking, KS Bancorp stands out for its ability to combine traditional banking values with modern service standards. The institution leverages deep industry expertise to offer specialized products in wealth and trust services, further diversifying its income sources. This combination of traditional relationship banking with targeted service offerings enables KS Bancorp to navigate industry challenges while preserving its core mission of community support and financial stability.
Conclusion
In summary, KS Bancorp Inc. is a venerable institution in the community banking segment, characterized by its robust operational model, commitment to personalized customer service, and a clear focus on supporting the development of its local communities. Its diversified range of banking services, combined with a disciplined, risk-aware business model, positions the company as a reliable entity for those seeking a stable, community-centered financial partner.
KS Bancorp (KSBI) reported strong Q1 2025 financial results with a 50% increase in net income to $2.1 million ($1.87 per diluted share), compared to $1.4 million ($1.25 per diluted share) in Q1 2024.
Key financial metrics include:
- Net interest income rose to $6.3 million from $5.1 million
- Total assets increased by $31.2 million to $722.1 million
- Net loans grew by $7.1 million to $561.6 million
- Deposits increased by $39.4 million to $657.6 million, including 5.2% growth in core deposits
The bank maintains strong asset quality with nonperforming assets below 0.10% of total assets. The Board declared a quarterly dividend of $0.27 per share, payable on May 5, 2025, to stockholders of record as of April 25, 2025. The bank remains well-capitalized with a Community Bank Leverage Ratio of 9.31%.
KS Bancorp (KSBI) reported Q4 2024 net income of $1.7 million ($1.49 per diluted share), up from $1.5 million ($1.35 per diluted share) in Q4 2023. Excluding one-time expenses related to Garner branch redevelopment, Q4 2024 net income would have been $2.1 million ($1.91 per diluted share).
Key financial highlights include: Net interest income increased to $6.2 million in Q4 2024 from $5.0 million in Q4 2023. Full-year 2024 net income was $6.1 million ($5.56 per share), slightly down from $6.2 million ($5.60 per share) in 2023. Total assets grew 12.5% to $690.7 million, with net loans up 17.3% to $554.5 million. Core deposits increased 13.1% to $618.1 million.
The company declared a quarterly dividend of $0.27 per share, maintaining strong capitalization with a Community Bank Leverage Ratio of 9.24%.
KS Bancorp (KSBI) reported strong Q3 2024 financial results with net income of $1.5 million ($1.32 per diluted share), up from $1.4 million in Q3 2023. The company showed significant growth with total assets increasing 11.9% to $686.5 million, net loans rising 9.5% to $517.9 million, and deposits growing 14.3% to $623.2 million compared to December 2023. Net interest income before credit loss provisions was $5.5 million for Q3 2024. The Board declared a quarterly dividend of $0.26 per share. The bank maintains strong capitalization with a Community Bank Leverage Ratio of 9.28%.
KS Bancorp (KSBI) reported strong financial results for Q2 2024. Key highlights include:
- Net income of $1.7 million or $1.50 per diluted share, up from $1.6 million in Q2 2023
- Net interest income before provision for credit losses increased to $5.5 million
- Total assets grew to $668.8 million, a $55.2 million increase from December 2023
- Net loan balances rose by $31.4 million to $504.3 million
- Total deposits increased by $64.0 million to $609.0 million
- Stockholders' equity improved by $3.0 million to $43.5 million
The company also declared a quarterly dividend of $0.26 per share and opened a new branch in Dunn, North Carolina, marking its tenth full-service location.
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