Limestone Bancorp Reports Net Income of $3.6 million, or $0.47 per Diluted Share, for the 1st Quarter of 2022

Rhea-AI Summary

Limestone Bancorp, Inc. (NASDAQ: LMST) reported a net income of $3.6 million for Q1 2022, up from $3.2 million in Q1 2021, resulting in $0.47 per share. Loan growth reached 4.5%, bringing the total loan portfolio to $1.05 billion. Net interest income slightly increased to $11.1 million, while net interest margin rose to 3.42%. The company also established a quarterly dividend on April 1, 2022, benefiting shareholders. However, the low interest rate environment impacted yields, with the cost of interest-bearing liabilities at 0.53%.

Positive

• Net income increased to $3.6 million in Q1 2022, from $3.2 million in Q1 2021.
• Loan growth was 4.5%, increasing the loan portfolio to $1.05 billion.
• Established a quarterly dividend on April 1, 2022, indicating strong capital position.

Negative

• Net interest margin decreased from 3.53% in Q1 2021 to 3.42% in Q1 2022.
• Yields on earning assets fell to 3.82% from 4.05% year-over-year.

LOUISVILLE, Ky.--(BUSINESS WIRE)-- Limestone Bancorp, Inc. (NASDAQ: LMST) (the “Company”), parent company of Limestone Bank, Inc. (the “Bank”), today reported unaudited results for the first quarter of 2022. Net income available to common shareholders for the first quarter of 2022 was $3.6 million, or $0.47 per basic and diluted common share, compared with $3.2 million, or $0.43 per basic and diluted common share, for the first quarter of 2021.

John T. Taylor, Chief Executive Officer, stated, “We continue to be pleased with the Company’s strong financial performance. We were able to build on our loan growth momentum from last year and achieve loan growth of 4.5% for the first quarter. Additionally, given the Company’s solid capital position and earnings levels, we instituted a quarterly common share dividend on April 1, 2022, as a return of profits to our shareholders. I continue to be excited about the future of our franchise.”

Total assets were $1.41 billion at March 31, 2022. The loan portfolio increased $45.4 million, or 4.5%, during the first quarter to $1.05 billion at March 31, 2022. Lower earning fed funds sold were reduced by $45.6 million during the quarter.

Net Interest Income and Average Earning Assets – Net interest income was $11.1 million for the first quarter of 2022, compared to $11.0 million for the fourth quarter of 2021, and $10.7 million for the first quarter of 2021. Net interest margin increased to 3.42% for the first quarter of 2022, compared with 3.32% for the fourth quarter of 2021, and decreased from 3.53% for the first quarter of 2021.

The yield on earning assets increased to 3.82% in the first quarter of 2022, compared to 3.71% in the fourth quarter of 2021, and decreased from 4.05% in the first quarter of 2021. Quarter over quarter, average loans increased $73.0 million to $1.03 billion, while lower yielding fed funds sold decreased $73.8 million. PPP loans averaged $605,000 and $3.5 million for the first quarter of 2022 and the fourth quarter of 2021, respectively. Compared to the prior year first quarter, average loans increased $64.2 million and investment securities increased $54.3 million, while lower yielding fed funds sold decreased $22.1 million. PPP loans averaged $21.1 million for the first quarter of 2021.

While the Federal Reserve recently increased the federal funds target rate by 25 basis points on March 16, 2022, the yield on earning assets for the first quarter of 2022 and for the 2021 fiscal year were negatively impacted by the low interest rate environment on the Bank’s fed funds sold, certain floating rate investment securities, loans with variable rate pricing features, and new loan originations, including PPP loans which carry a rate of 1.0%. The negative impact of low rates was offset by an increase in loan fee income discussed below.

Loan fee income can meaningfully impact net interest income, loan yields, and net interest margin. The amount of loan fee income included in total interest income was $324,000, $967,000, and $844,000 for the quarters ended March 31, 2022, December 31, 2021, and March 31, 2021, respectively. This represents 10 basis points, 29 basis points, and 28 basis points of yield on earning assets and net interest margin for the quarters ended March 31, 2022, December 31, 2021, and March 31, 2021, respectively. Loan fee income for the first quarter of 2022 included $45,000 in fees earned on PPP loans, compared to $261,000 in the fourth quarter of 2021, and $436,000 in the first quarter of 2021, which represents two basis points, eight basis points, and 14 basis points of earning asset yield and net interest margin for those quarters, respectively. At March 31, 2022, PPP loans totaled $180,000 with no significant unearned PPP origination fees remaining.

The cost of interest-bearing liabilities was unchanged at 0.53% for the first quarter of 2022, compared to the fourth quarter of 2021, and decreased from 0.68% in the first quarter of 2021. The cost of interest-bearing liabilities continued to benefit as a result of continued improvement in deposit mix, as well as the downward repricing of time deposits between periods. Time deposits declined $5.9 million during the first quarter of 2022 as approximately $55.0 million of time deposits with an average rate of 0.33% matured and redeemed or repriced at lower interest rates. During the first quarter of 2022, newly originated or renewed time deposits had an average rate of 0.26% and an average term of approximately 16 months.

As of March 31, 2022, time deposits comprised $260.1 million of the Company’s liabilities including $59.4 million with a current average rate of 0.29%, which reprice or mature in the second quarter of 2022. The following table denotes contractual time deposit maturities and average rates as of March 31, 2022:

Maturity Quarter		As of March 31, 2022 (in thousands)			Weighted Average Rate
Q2-2022			59,393		0.29
Q3-2022			38,562		0.34
Q4-2022			31,670		0.32
Q1-2023			38,631		0.44
Thereafter			91,808		0.86
Total time deposits		$	260,064		0.52	%

Provision and Allowance for Loan Losses – The allowance for loan losses to total loans was 1.16% at March 31, 2022, compared to 1.15% at December 31, 2021, and 1.30% at March 31, 2021.

Net loan charge-offs were $86,000 for the first quarter of 2022, compared to net loan charge-offs of $1.9 million for the fourth quarter of 2021, and net loan charge-offs of $38,000 for the first quarter of 2021. A provision for loan loss of $750,000, or $0.07 per common share after taxes, was recorded in the first quarter of 2022, compared to $500,000, or $0.05 per common share after taxes, in the fourth quarter of 2021, and compared to $350,000, or $0.04 per common share after taxes, in the first quarter of 2021. The 2022 and 2021 loan loss provisions were attributable to net loan charge-offs impacting historical loss percentages and growth trends within the portfolio during the quarters.

Non-interest Income and Expense – Non-interest income for the first quarter of 2022 increased $461,000 to $2.2 million, compared with $1.8 million for the fourth quarter of 2021, and $354,000 compared with $1.9 million for the first quarter of 2021. The increase for the first quarter of 2022 was primarily related to a $163,000 gain on the sale of premises held for sale. Non-interest expense was $8.0 million for the first quarter of 2022, the fourth quarter of 2021, and the first quarter of 2021. Salaries and benefits represent our most significant non-interest expense. Salaries and benefits expense decreased $37,000 from the fourth quarter of 2021 and increased $82,000 from the first quarter of 2021. These fluctuations are generally driven by changes in FTEs during each period. Given current market conditions, we expect inflationary pressure to impact salaries and benefits in the range of four to five percent in 2022 as we compete for talent and administer our wage and benefit programs.

About Limestone Bancorp, Inc.

Limestone Bancorp, Inc. (NASDAQ: LMST) is a Louisville, Kentucky-based bank holding company which operates banking centers in 14 counties through its wholly-owned subsidiary Limestone Bank. The Bank’s markets include metropolitan Louisville in Jefferson County and the surrounding counties of Bullitt and Henry and extend south along the Interstate 65 corridor. The Bank serves south central, southern, and western Kentucky from banking centers in Barren, Butler, Daviess, Edmonson, Green, Hardin, Hart, Ohio, and Warren counties. The Bank also has banking centers in Lexington, Kentucky, the second largest city in the state, and Frankfort, Kentucky, the state capital. Limestone Bank is a traditional community bank with a wide range of personal and business banking products and services.

Forward-Looking Statements

Statements in this press release relating to Limestone Bancorp’s plans, objectives, expectations or future performance are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “believe,” “may,” “should,” “anticipate,” “estimate,” “expect,” “intend,” “objective,” “possible,” “seek,” “plan,” “strive” or similar words, or negatives of these words, identify forward-looking statements that involve risks and uncertainties. Although the Company's management believes the assumptions underlying the forward-looking statements contained herein are reasonable, any of these assumptions could be inaccurate. Therefore, there can be no assurance the forward-looking statements included herein will prove to be accurate. Factors that could cause actual results to differ from those discussed in forward-looking statements include, but are not limited to: the impact and duration of the COVID-19 pandemic; economic conditions both generally and more specifically in the markets in which the Company and its subsidiaries operate; competition for the Company's customers from other providers of financial services; government legislation and regulation, which change from time to time and over which the Company has no control; changes in inflation and efforts to control it; changes in interest rates; material unforeseen changes in liquidity, results of operations, or financial condition of the Company's customers; and other risks detailed in the Company's filings with the Securities and Exchange Commission, all of which are difficult to predict and many of which are beyond the control of the Company. See Risk Factors outlined in the Company's Form 10-K for the year ended December 31, 2021.

Additional Information

Unaudited supplemental financial information for the first quarter ending March 31, 2022, follows.

LIMESTONE BANCORP, INC.
Unaudited Financial Information
(in thousands, except share and per share data)
		Three Months Ended
		3/31/22			3/31/21
Income Statement Data
Interest income		$	12,427		$	12,250
Interest expense			1,313			1,570
Net interest income			11,114			10,680
Provision for loan losses			750			350
Net interest income after provision			10,364			10,330
Service charges on deposit accounts			634			548
Bank card interchange fees			1,003			960
Bank owned life insurance income			202			165
Gain on sale of premises held for sale			163			—
Other			236			211
Non-interest income			2,238			1,884
Salaries & employee benefits			4,564			4,482
Occupancy and equipment			1,029			1,060
Professional fees			221			236
Marketing expense			133			182
FDIC insurance			90			135
Data processing expense			386			378
Deposit tax			99			90
Deposit account related expense			547			491
Communications expense			64			173
Insurance expense			105			104
Postage and delivery			163			152
Other			570			501
Non-interest expense			7,971			7,984
Income before income taxes			4,631			4,230
Income tax expense			1,052			1,008
Net income			3,579			3,222
Weighted average shares – Basic			7,614,382			7,575,211
Weighted average shares – Diluted			7,614,382			7,575,211
Basic earnings per common share		$	0.47		$	0.43
Diluted earnings per common share		$	0.47		$	0.43
Cash dividends declared per common share		$	0.05		$	0.00
Performance Ratios
Return on average assets			1.03	%		0.99	%
Return on average equity			11.07			11.11
Yield on average earning assets (tax equivalent)			3.82			4.05
Cost of interest-bearing liabilities			0.53			0.68
Net interest margin (tax equivalent)			3.42			3.53
Efficiency ratio1			59.70			63.55
Non-interest expense to average assets			2.30			2.46

LIMESTONE BANCORP, INC.
Unaudited Financial Information
(in thousands, except share and per share data)
			Three		Three			Three				Three			Three
			Months		Months			Months				Months			Months
			Ended		Ended			Ended				Ended			Ended
			3/31/22		12/31/21			9/30/21				6/30/21			3/31/21
Income Statement Data
Interest income		$	12,427		$	12,314		$	12,975		$	12,376		$	12,250
Interest expense			1,313			1,307			1,354			1,462			1,570
Net interest income			11,114			11,007			11,621			10,914			10,680
Provision for loan losses			750			500			300			—			350
Net interest income after provision			10,364			10,507			11,321			10,914			10,330
Service charges on deposit accounts			634			605			583			520			548
Bank card interchange fees			1,003			1,039			1,044			1,073			960
Bank owned life insurance income			202			106			112			143			165
Gain on sale of OREO			—			—			—			191			—
Gain (loss) on sales and calls of securities, net			—			—			465			(5	)		—
Gain on sale of premises held for sale			163			—			—			—			—
Other			236			234			232			213			211
Non-interest income			2,238			1,984			2,436			2,135			1,884
Salaries & employee benefits			4,564			4,601			4,582			4,467			4,482
Occupancy and equipment			1,029			978			1,024			979			1,060
Professional fees			221			251			219			246			236
Marketing expense			133			166			200			179			182
FDIC insurance			90			90			90			90			135
Data processing expense			386			379			378			377			378
Deposit tax			99			105			90			90			90
Deposit account related expense			547			566			545			556			491
Communications expense			64			161			153			194			173
Insurance expense			105			91			105			115			104
Postage and delivery			163			145			169			139			152
Other			570			450			495			522			501
Non-interest expense			7,971			7,983			8,050			7,954			7,984
Income before income taxes			4,631			4,508			5,707			5,095			4,230
Income tax expense			1,052			1,063			1,366			1,194			1,008
Net income		$	3,579		$	3,445		$	4,341		$	3,901		$	3,222
Weighted average shares – Basic			7,614,382			7,597,256			7,602,686			7,597,202			7,575,211
Weighted average shares – Diluted			7,614,382			7,597,256			7,602,686			7,597,202			7,575,211
Basic earnings per common share		$	0.47		$	0.45		$	0.57		$	0.51		$	0.43
Diluted earnings per common share		$	0.47		$	0.45		$	0.57		$	0.51		$	0.43
Cash dividends declared per common share		$	0.05		$	0.00		$	0.00		$	0.00		$	0.00
Performance Ratios
Return on average assets			1.03	%		0.97	%		1.26	%		1.15	%		0.99	%
Return on average equity			11.07			10.51			13.61			12.89			11.11
Yield on average earning assets (tax equivalent)			3.82			3.71			4.03			3.91			4.05
Cost of interest-bearing liabilities			0.53			0.53			0.56			0.61			0.68
Net interest margin (tax equivalent)			3.42			3.32			3.61			3.45			3.53
Efficiency ratio1			59.70			61.45			59.23			60.93			63.55
Non-interest expense to average assets			2.30			2.25			2.33			2.34			2.46

LIMESTONE BANCORP, INC.
Unaudited Financial Information
(in thousands, except share and per share data)
			As of
			3/31/22		12/31/21			9/30/21				6/30/21			3/31/21
Assets
Loans		$	1,047,285		$	1,001,840		$	968,088		$	947,425		$	978,865
Allowance for loan losses			(12,195	)		(11,531	)		(12,973	)		(12,637	)		(12,755	)
Net loans			1,035,090			990,309			955,115			934,788			966,110
Securities held to maturity2			45,639			46,460			47,539			46,717			41,254
Securities available for sale2			204,071			214,213			203,548			182,154			177,690
Federal funds sold & interest-bearing deposits			22,040			67,110			44,909			75,536			74,047
Cash and due from financial institutions			10,009			10,493			13,579			9,584			9,800
Premises and equipment			23,043			21,575			21,623			21,912			20,405
Premises held for sale			—			310			980			980			1,035
Bank owned life insurance			30,643			23,946			23,845			23,738			23,601
FHLB Stock			5,116			5,116			5,116			5,449			5,810
Other real estate owned			—			—			—			—			1,765
Deferred taxes, net			22,648			21,583			22,161			23,452			24,992
Goodwill			6,252			6,252			6,252			6,252			6,252
Intangible assets			1,925			1,989			2,053			2,117			2,181
Accrued interest receivable and other assets			6,230			6,336			6,128			6,231			6,769
Total Assets		$	1,412,706		$	1,415,692		$	1,352,848		$	1,338,910		$	1,361,711
Liabilities and Equity
Certificates of deposit		$	260,064		$	266,011		$	280,545		$	303,668		$	355,309
Interest checking			274,054			287,208			239,923			216,344			211,322
Money market			216,845			217,943			198,470			191,773			180,137
Savings			166,135			163,423			163,018			160,257			151,340
Total interest-bearing deposits			917,098			934,585			881,956			872,042			898,108
Demand deposits			281,533			274,083			266,035			267,059			268,882
Total deposits			1,198,631			1,208,668			1,147,991			1,139,101			1,166,990
FHLB advances			30,000			20,000			20,000			20,000			20,613
Junior subordinated debentures			21,000			21,000			21,000			21,000			21,000
Subordinated capital note			25,000			25,000			25,000			25,000			25,000
Accrued interest payable and other liabilities			9,855			10,065			10,193			9,850			8,588
Total liabilities			1,284,486			1,284,733			1,224,184			1,214,951			1,242,191
Total stockholders’ equity			128,220			130,959			128,664			123,959			119,520
Total Liabilities and Stockholders’ Equity		$	1,412,706		$	1,415,692		$	1,352,848		$	1,338,910		$	1,361,711
Ending shares outstanding			7,622,157			7,594,749			7,602,686			7,602,686			7,594,499
Book value per common share		$	16.82		$	17.24		$	16.92		$	16.30		$	15.74
Tangible book value per common share3			15.75			16.16			15.83			15.20			14.63

LIMESTONE BANCORP, INC.
Unaudited Financial Information
(in thousands, except share and per share data)
			As of
			3/31/22			12/31/21			9/30/21			6/30/21			3/31/21
Average Balance Sheet Data
Assets		$	1,407,030		$	1,405,219		$	1,369,372		$	1,361,080		$	1,316,878
Loans			1,028,546			955,516			952,567			961,922			964,353
Earning assets			1,326,234			1,322,821			1,284,188			1,275,363			1,230,610
Deposits			1,199,174			1,199,334			1,166,785			1,164,524			1,125,943
Long-term debt and advances			67,667			66,000			66,000			66,000			66,617
Interest bearing liabilities			996,710			982,132			954,007			956,172			941,342
Stockholders’ equity			131,097			129,998			126,556			121,386			117,663
Asset Quality Data
Nonaccrual loans		$	3,447		$	3,124		$	1,627		$	1,530		$	1,996
Troubled debt restructurings on accrual			333			340			561			390			399
Loan 90 days or more past due still on accrual			—			—			—			—			—
Total non-performing loans			3,780			3,464			2,188			1,920			2,395
Real estate acquired through foreclosures			—			—			—			—			1,765
Other repossessed assets			—			—			—			—			—
Total non-performing assets		$	3,780		$	3,464		$	2,188		$	1,920		$	4,160
Non-performing loans to total loans			0.36	%		0.35	%		0.23	%		0.20	%		0.24	%
Non-performing assets to total assets			0.27			0.24			0.16			0.14			0.31
Allowance for loan losses to non-performing loans			322.62			332.88			592.92			658.18			532.57
Allowance for loan losses to total loans			1.16	%		1.15	%		1.34	%		1.33	%		1.30	%
Loan Charge-off Data
Loans charged off		$	(227	)	$	(2,246	)	$	(25	)	$	(178	)	$	(77	)
Recoveries			141			304			61			60			39
Net (charge-offs) recoveries		$	(86	)	$	(1,942	)	$	36		$	(118	)	$	(38	)
Loans by Risk Category4
Pass		$	1,023,039		$	977,962		$	945,396		$	913,753		$	942,492
Watch			8,567			7,856			3,407			15,888			17,929
Special Mention			—			—			—			—			—
Substandard			15,679			16,022			19,285			17,784			18,444
Doubtful			—			—			—			—			—
Total		$	1,047,285		$	1,001,840		$	968,088		$	947,425		$	978,865
Loans by Past Due Status
Past due loans:
30 – 59 days		$	1,108		$	556		$	630		$	181		$	677
60 – 89 days			89			210			142			252			254
90 days or more			—			—			—			—			—
Nonaccrual loans			3,447			3,124			1,627			1,530			1,996
Total past due and nonaccrual loans		$	4,644		$	3,890		$	2,399		$	1,963		$	2,927

LIMESTONE BANCORP, INC.
Unaudited Financial Information
(in thousands, except share and per share data)
		As of
		3/31/22		12/31/21		9/30/21		6/30/21		3/31/21
Risk-based Capital Ratios - Company
Tier I leverage ratio		9.38	%	9.14	%	9.39	%	8.70	%	8.59	%
Common equity Tier I risk-based capital ratio		8.93		9.00		9.37		9.48		8.96
Tier I risk-based capital ratio		10.19		10.38		10.86		10.63		10.00
Total risk-based capital ratio		13.12		13.41		14.13		14.09		13.42
Risk-based Capital Ratios – Limestone Bank
Tier I leverage ratio		11.20	%	10.84	%	10.96	%	10.55	%	10.44	%
Common equity Tier I risk-based capital ratio		12.21		12.35		12.68		12.95		12.21
Tier I risk-based capital ratio		12.21		12.35		12.68		12.95		12.21
Total risk-based capital ratio		13.17		13.31		13.80		14.11		13.37
FTE employees, end of period		222		227		232		231		225

Footnotes:

⁽¹⁾ The efficiency ratio is a non-GAAP measure of expense control relative to revenue from net interest income and fee income. The efficiency ratio is calculated by dividing total non-interest expenses as determined under GAAP by net interest income and total non-interest income, but excluding from the calculation net gains on the sale of securities and expenses disclosed from time to time as non-recurring in nature. Management believes this provides a reasonable measure of primary banking expenses relative to primary banking revenue.

		Three Months Ended
			3/31/22			12/31/21			9/30/21			6/30/21			3/31/21
Efficiency Ratio		(in thousands)
Net interest income		$	11,114		$	11,007		$	11,621		$	10,914		$	10,680
Non-interest income			2,238			1,984			2,436			2,135			1,884
Less: Net gain (loss) on securities			—			—			465			(5	)		—
Revenue used for efficiency ratio			13,352			12,991			13,592			13,054			12,564
Non-interest expense			7,971			7,983			8,050			7,954			7,984
Efficiency ratio			59.70	%		61.45	%		59.23	%		60.93	%		63.55	%

⁽²⁾ Investment Securities – The following table sets forth the amortized cost and fair value of our securities portfolio at the dates indicated.

		March 31, 2022																December 31, 2021
		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value				Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
		(dollars in thousands)
Securities available for sale
U.S. Government and federal agencies		$	26,952			$	—			$	(1,196	)		$	25,756			$	26,075			$	301			$	(133	)		$	26,243
Agency mortgage-backed residential			90,589				177				(5,097	)			85,669				93,650				1,339				(970	)			94,019
Collateralized loan obligations			48,221				—				(297	)			47,924				50,227				—				(78	)			50,149
Corporate bonds			45,453				221				(952	)			44,722				43,432				572				(202	)			43,802
Total available for sale		$	211,215			$	398			$	(7,542	)		$	204,071			$	213,384			$	2,212			$	(1,383	)		$	214,213
		Amortized Cost				Gross Unrecognized Gains				Gross Unrecognized Losses				Fair Value				Amortized Cost				Gross Unrecognized Gains				Gross Unrecognized Losses				Fair Value
		(dollars in thousands)
Securities held to maturity
State and municipal		$	45,639			$	24			$	(4,873	)		$	40,790			$	46,460			$	158			$	(338	)		$	46,280
Total held to maturity		$	45,639			$	24			$	(4,873	)		$	40,790			$	46,460			$	158			$	(338	)		$	46,280

⁽³⁾ Tangible book value per common share is a non-GAAP financial measure derived from GAAP based amounts. Tangible book value per common share is calculated by excluding the balance of goodwill and other intangible assets from common stockholders’ equity. Tangible book value per common share is calculated by dividing tangible common equity by common shares outstanding, as compared to book value per common share, which is calculated by dividing common stockholders’ equity by common shares outstanding. Management believes this is consistent with bank regulatory agency treatment, which excludes goodwill and other intangible assets from the calculation of risk-based capital.

			As of
			3/31/22			12/31/21			9/30/21			6/30/21			3/31/21
Tangible Book Value Per Share		(in thousands, except share and per share data)
Common stockholders’ equity		$	128,220		$	130,959		$	128,664		$	123,959		$	119,520
Less: Goodwill			6,252			6,252			6,252			6,252			6,252
Less: Intangible assets			1,925			1,989			2,053			2,117			2,181
Tangible common equity			120,043			122,718			120,359			115,590			111,087
Shares outstanding			7,622,157			7,594,749			7,602,686			7,602,686			7,594,499
Tangible book value per common share		$	15.75		$	16.16		$	15.83		$	15.20		$	14.63
Book value per common share			16.82			17.24			16.92			16.30			15.74

⁽⁴⁾ Loans by Risk Category reflect management’s risk ratings based on categories aligned with the bank regulatory definitions.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220420005128/en/

John T. Taylor

Chief Executive Officer

(502) 499-4800

Source: Limestone Bancorp, Inc.

FAQ

What is Limestone Bancorp's net income for Q1 2022?

Limestone Bancorp reported a net income of $3.6 million for Q1 2022.

How much did Limestone Bancorp's loan portfolio grow in Q1 2022?

The loan portfolio grew by 4.5%, reaching $1.05 billion.

What is the net interest margin for Limestone Bancorp in Q1 2022?

The net interest margin for Q1 2022 is 3.42%.

Did Limestone Bancorp declare a dividend in 2022?

Yes, Limestone Bancorp instituted a quarterly dividend on April 1, 2022.

What was the cost of interest-bearing liabilities for Limestone Bancorp in Q1 2022?

The cost of interest-bearing liabilities was 0.53% in Q1 2022.