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Level One Bancorp, Inc. (Nasdaq: LEVL) announced a quarterly cash dividend of $46.88 per share on its 7.50% Non-Cumulative Preferred Stock, Series B. Shareholders holding depositary shares will receive $0.4688 per depositary share. This dividend is payable on August 15, 2021, to shareholders of record as of the close of business on July 31, 2021. The company, with assets of approximately $2.57 billion, operates sixteen banking centers throughout Southeast Michigan and West Michigan.
Level One Bancorp, Inc. (Nasdaq: LEVL) announced the promotion of Timothy R. Mackay to President of both the Company and Level One Bank, effective July 16, 2021. Mackay, previously Executive Vice President and Consumer Banking Officer, has been with the Bank since 2013 and has over 20 years of experience in banking. His promotion aims to strengthen customer commitment and enhance business execution. Patrick J. Fehring continues as Chairman and CEO, expressing confidence in Mackay's leadership abilities.
Level One Bancorp announced a quarterly cash dividend of $0.06 per share, payable on July 15, 2021, to shareholders recorded by June 30, 2021. The Company, headquartered in Michigan, has assets of approximately $2.57 billion as of March 31, 2021, and operates sixteen banking centers throughout Southeast and West Michigan. This dividend reflects the company's commitment to returning value to its shareholders.
Level One Bancorp reported strong financial results for Q1 2021, achieving net income of $9.0 million or $1.10 diluted EPS, marking a 117.98% increase year-over-year and a 7.00% rise from the previous quarter. Total assets grew to $2.57 billion, with total loans of $1.86 billion and deposits reaching $2.09 billion. The net interest margin stood at 3.33%, stable from Q4 2020. The company actively supported local businesses with 1,487 PPP loans totaling $230.5 million during this pandemic period.
Level One Bancorp, Inc. (Nasdaq: LEVL) announced a quarterly cash dividend of $46.88 per share on its 7.50% Non-Cumulative Preferred Stock, Series B, equating to $0.4688 per depositary share. This dividend will be paid on May 15, 2021, to shareholders on record as of April 30, 2021. The company, which operates 16 banking centers across Southeast and West Michigan, reported assets of approximately $2.44 billion as of December 31, 2020.
Level One Bancorp, Inc. (Nasdaq: LEVL) has declared a quarterly cash dividend of $0.06 per share, set to be paid on April 15, 2021, to shareholders recorded by March 31, 2021. As of December 31, 2020, the company reported assets totaling approximately $2.44 billion. Level One Bancorp operates 16 banking centers across Southeast and West Michigan, focusing on providing full-service commercial and consumer banking.
Level One Bancorp reported strong fourth quarter 2020 results with a net income of $8.4 million ($1.02 per share), up 60.74% from the previous quarter. For the year, net income reached $20.4 million, a 26.70% increase from 2019. Key highlights include a 72.91% rise in total deposits and a 181.60% increase in mortgage banking income. However, total loans decreased 6.53% to $1.72 billion mainly due to PPP loan forgiveness, and noninterest income fell 11.12% from the prior quarter. Level One continues to focus on improving efficiency and managing risks amid ongoing economic uncertainty.
Level One Bancorp has declared a quarterly cash dividend of $46.88 per share on its 7.50% Non-Cumulative Preferred Stock, Series B. Each depositary share will receive $0.4688, payable on February 15, 2021, to shareholders of record by January 31, 2021. As of September 30, 2020, the bank holds approximately $2.45 billion in assets and operates sixteen banking centers in Southeast and West Michigan.
Level One Bancorp has declared a quarterly cash dividend of $0.05 per share, payable on January 15, 2021, to shareholders recorded by December 31, 2020. The announcement came as the company operates 16 banking centers across Southeast and West Michigan, boasting total assets of approximately $2.45 billion as of September 30, 2020. This dividend reflects the company's ongoing commitment to returning value to shareholders.
Level One Bancorp reported strong financial results for Q3 2020, with net income of $5.2 million, or $0.67 per diluted share, a 92.6% increase from the prior quarter. The growth was fueled by a 25.05% rise in mortgage banking revenue, totaling $1.4 million. Loan originations reached $206.8 million, up slightly from $203.6 million, with total deposits also increasing 6.70% to $1.94 billion. Despite nominal net charge-offs of $78,000, a $4.3 million provision for loan losses was recorded due to pandemic-related uncertainties. The efficiency ratio improved to 58.81%.
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