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.
KS Bancorp, Inc. (KSBI), the parent company of KS Bank, Inc., regularly publishes detailed financial and operational updates that are relevant to investors and followers of community banks. This news page aggregates those company-issued releases, with a focus on earnings, balance sheet trends, dividends, and branch network developments in eastern North Carolina.
In its public announcements, KS Bancorp reports unaudited quarterly and annual results, including net income, earnings per diluted share, net interest income before provision for credit losses, noninterest income, and noninterest expenses. The company also discloses key balance sheet data such as total assets, net loans, investment securities, total deposits, borrowings, and stockholders’ equity, along with measures of asset quality like nonperforming assets and the allowance for credit losses.
KS Bancorp’s news releases frequently highlight its status as a well-capitalized community bank under regulatory standards, referencing the Community Bank Leverage Ratio. They also describe regular quarterly cash dividends declared by the board of directors, including the dividend amount per share and record and payment dates. In addition, the company uses these updates to communicate milestones such as the opening of new full-service branches in communities like Dunn and Bailey, North Carolina, and expansion into Nash County.
Investors and observers can use this KSBI news feed to follow how KS Bancorp’s financial performance, capital position, and branch footprint evolve over time, based on information the company itself has chosen to disclose in its official public communications.
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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.
KS Bancorp, Inc. (OTCBB: KSBI) reported strong financial results for Q3 2022, with net income rising 22.4% to $2.1 million ($1.86 per diluted share) compared to Q3 2021. Net interest income increased to $5.5 million, while noninterest income slightly declined to $740,000. The Bank showed stable growth in total deposits, up $28.4 million to $515.8 million, and net loan balances increased by $48.1 million to $393.7 million. The Board declared a quarterly dividend of $0.20 per share, payable on November 7, 2022. KS Bank remains well-capitalized under regulatory standards.
KS Bancorp, Inc. (OTCBB: KSBI) reported strong second quarter results for 2022, achieving a net income of $1.8 million, or $1.62 per diluted share, up from $1.5 million in Q2 2021. The firm's net interest income rose to $4.8 million, while noninterest income slightly increased to $722,000. Total assets decreased by $16.5 million to $554.7 million, primarily due to FHLB borrowings repayment. KS Bank increased loans by $22.4 million, and total deposits grew by $20 million. A quarterly dividend of $0.20 per share was announced, marking a 25% increase.
KS Bancorp, Inc. (OTCBB: KSBI) announced its unaudited results for Q1 2022, reporting a net income of $1,367,000 or $1.23 per diluted share, a decrease from $1,459,000 or $1.32 per diluted share in Q1 2021. Key figures include:
- Net interest income stable at $4.2 million
- Noninterest income rose to $802,000 from $675,000
- Total assets increased to $574.4 million
- Total stockholders' equity fell to $33.9 million
A quarterly dividend of $0.16 per share was declared, payable on May 9, 2022.
KS Bancorp, Inc. (OTC Pink: KSBI) reported strong unaudited results for Q4 2021, with a net income of $1.4 million ($1.29 per diluted share), marking a 7.43% increase year-over-year. For the full year, net income rose 39.2% to $6.1 million ($5.50 per diluted share). Total assets increased by $85.4 million to $571.2 million, while total deposits grew by 21.1% to $487.4 million. The Company declared a quarterly dividend of $0.16 per share. KS Bancorp remains well-capitalized with robust capital ratios, reflecting its stable operational performance amid evolving market conditions.
KS Bancorp, Inc. (OTC Pink: KSBI) announces a leadership transition plan. Harold T. Keen, who has served as President and CEO since 1990, will become Executive Vice Chairman while retaining the CEO role for KS Bancorp. Earl W. Worley, Jr. assumes the role of President and CEO of KS Bank, bringing 30 years of experience. Dit L. Breault will be the new Chief Operations Officer. This transition marks a significant change in the bank's leadership structure, as KS Bank continues its commitment to serving eastern North Carolina since 1924.