KS BANCORP INC - KSBI STOCK NEWS

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.

KS Bancorp, Inc. (KSBI) announced its first quarter 2024 financial results, reporting a net income of $1.4 million. The company's total assets increased to $658.3 million, with net loan balances rising to $487.4 million. KS Bank declared a 30% increase in cash dividend to $0.26 per share. The company remains well-capitalized with a Community Bank Leverage Ratio of 9.63%.

KS Bancorp, Inc. (KSBI) announced its first-quarter 2024 financial results and a cash dividend. The company reported net income of $1.4 million, noninterest income of $829,000, and total assets of $658.3 million. Total deposits increased to $599.6 million, with a $50.8 million increase in core deposits. The company declared a quarterly dividend of $0.26 per share, marking a 30.0% increase from the previous year. KS Bank remains well capitalized with a Community Bank Leverage Ratio of 9.63%.

KS Bancorp, Inc. reported a decrease in net income for the fourth quarter of 2023 compared to the same period in 2022. The company's net interest income and noninterest income also experienced declines. However, total assets, net loan balances, and total deposits saw significant increases. The company's unaudited consolidated total assets increased to $613.6 million at December 31, 2023, compared to $546.4 million at December 31, 2022. Total deposits increased $63.4 million to $545.0 million at December 31, 2023, compared to $481.6 million at December 31, 2022. Despite the challenges faced due to rising interest rates, the company remains well-capitalized and declared a quarterly dividend of $0.25 per share for stockholders. KS Bancorp, Inc. is a Smithfield, North Carolina-based single bank holding company, with KS Bank, Inc. as its sole subsidiary, serving the citizens of eastern North Carolina since 1924.

KS Bancorp, Inc. (OTC PINK:KSBI) reported a decrease in net income of $631,000 for Q3 2023 compared to Q3 2022. Net interest income before provision for credit losses was $5.0 million in Q3 2023. Noninterest income was $812,000 and noninterest expenses were $3.8 million in Q3 2023. For the nine months ended September 30, 2023, net interest income before provision for credit losses was $15.3 million, a 5.2% increase from the same period in 2022. Noninterest income was $2.4 million and noninterest expenses were $11.4 million for the nine months ended September 30, 2023. The company's total assets increased to $605.9 million at September 30, 2023. The company's unaudited consolidated total assets increased $59.5 million, to $605.9 million at September 30, 2023, compared to $546.4 million at December 31, 2022.

KS Bancorp announces leadership transitions with Earl W. Worley, Jr. appointed as President and CEO, and Harold T. Keen retiring from the Board of Directors.

KS Bancorp, Inc. (OTCBB: KSBI) reported strong fourth-quarter results for 2022, with net income reaching $2.3 million or $2.11 per diluted share, a 63.6% increase from the previous year. For the full year, net income rose 24.0% to $7.6 million, with diluted earnings of $6.82 per share. Net interest income before loan losses was $5.9 million for Q4, up from $4.4 million in Q4 2021. Total assets decreased by $23.7 million to $547.5 million, while net loan balances increased by 19.7%. The company declared a quarterly dividend of $0.20 per share for January 2023.