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Liberty Northwest Bancorp (OTCQX: LBNW) reported a net loss of $43,000 for Q4 2024, compared to net income of $25,000 in Q3 2024 and $1,000 in Q4 2023. Full-year 2024 net income was $3,000, down from $35,000 in 2023.
Key metrics include: total assets of $186.9 million, net interest income of $1.00 million for Q4, and net interest margin of 2.30%. Total deposits increased 3% to $145.8 million, while net loans slightly decreased to $141.6 million compared to the previous year. The company's tangible book value per share improved to $7.80 from $7.58 year-over-year.
The company completed a $1.2 million Preferred Stock issuance in Q2 2024, convertible to Common Stock within 2 years. Asset quality remains strong with only one non-performing loan of $235,000, and the allowance for credit losses at 0.81% of total loans.
Liberty Northwest Bancorp (OTCQX: LBNW) reported Q3 2024 net income of $25 thousand, up from $7 thousand in Q2 2024 and $6 thousand in Q3 2023. Total assets were $183.7 million, with net loans at $140.0 million and total deposits increasing 2% to $146.4 million. Net interest income was $1.01 million with a margin of 2.37%. The company maintained strong asset quality with only one non-performing loan of $235 thousand. Operating expenses decreased 10% year-over-year, and capital ratios remained strong with a total risk-based capital ratio of 15.97%. The company recently completed a $1.2 million Preferred Stock issuance to support growth.
Liberty Northwest Bancorp (OTCQX: LBNW) reported Q2 2024 earnings of $7,000, down from $18,000 in Q2 2023. The company completed a $1.2 million Preferred Stock issuance to strengthen its capital position and support growth. Key highlights include:
- Total assets: $190.8 million
- Net loans: $143.2 million (3% YoY increase)
- Net interest income: $1.05 million
- Net interest margin: 2.45%
- Total deposits: $145.8 million (4% increase)
- Tangible book value per share: $7.79
The company's asset quality remains strong, with a $90,000 reversal to credit loss provisions. Despite challenges from high interest rates, LBNW's deposit mix is improving, helping stabilize the net interest margin.
Liberty Northwest Bancorp, Inc. reported earnings of $15 thousand for the first quarter of 2024, compared to $1 thousand in the previous quarter and $9 thousand a year ago. Total assets were $186.8 million, with zero nonperforming assets. Net interest income was $1.05 million with a net interest margin of 2.42%. Total deposits increased to $140.5 million. Tangible book value per share rose to $7.74. The company's net interest margin contracted, but improvement is anticipated. Non-interest income was $73 thousand, and noninterest expense decreased by 4%. Capital ratios exceed regulatory requirements.
Liberty Northwest Bancorp (OTCQX: LBNW) reported fourth-quarter net income of $136 thousand, a significant recovery from a $135 thousand loss a year prior. For 2022, net income rose to $526 thousand, a 139% increase. Total assets grew 10.2% to $193 million, although total loans decreased 0.9% in Q4 but increased 21.2% year-over-year. Net interest margin was 3.11% for Q4, down from 3.35% in Q3. Total deposits fell 6.3% to $141.8 million amid competitive deposit pricing. Nonperforming assets improved to 0.34% of total assets, and total noninterest expense decreased 16.8% year-over-year.
Liberty Northwest Bancorp (LBNW) reported a net income of $187K, or $0.11 per share, for Q3 2022, marking a 16% increase year-over-year. Total assets stood at $186.2M, with total loans up 0.8% in Q3 and 12.4% year-over-year. While nonperforming assets improved to 0.36%, total deposits decreased by 5.0% from Q2 2022. The company achieved a net interest margin of 3.35% in Q3, reflecting higher yields. Operating expenses were reduced by 15.6% year-over-year to $1.23M, leading to an improved efficiency ratio of 80.4%.
