Morris St Bancsh - MBLU STOCK NEWS

Morris State Bancshares (OTCQX: MBLU) reported strong financial results for Q4 and full-year 2024. The company announced a 30.43% increase in quarterly dividend to $0.12 per share and a special one-time dividend of $0.15 per share. Net income for 2024 reached $21.8 million, with Q4 earnings at $6.1 million.

Key 2024 metrics include: diluted EPS of $2.72, total assets of $1.49 billion, and net loan growth of $52.1 million (4.96%). The bank maintained strong asset quality with nonperforming assets at 0.41% and net charge-offs at 0.04%. The company plans to retire $15.0 million in subordinated debt in July 2025, supported by robust capital levels including a bank leverage ratio of 12.84%.

Net interest margin improved to 4.06%, up 8 basis points year-over-year, while the bank-level efficiency ratio was 53.30%. Total shareholders' equity increased 9.81% to $195.6 million, with tangible book value per share reaching $17.45.

Morris State Bancshares (MBLU) reported Q3 2024 net income of $5.4 million, up 2.34% from Q2 2024 and 21.23% year-over-year. Net interest margin improved to 4.10%, with net interest income reaching $14.0 million. The company saw increased loan yields and noninterest-bearing deposits, while maintaining stable cost of funds. Total deposits declined by $16.6 million, but non-interest-bearing deposits grew by $21.5 million. Loans increased by $6.3 million, showing an annualized growth of 2.36%. The board declared a Q4 dividend of $0.092 per share.

Morris State Bancshares (OTCQX: MBLU) reported strong Q2 2024 results, with net income of $5.3 million, up 10.70% year-over-year and 8.82% quarter-over-quarter. The company's performance was driven by loan growth and improved yields, pushing the net interest margin to 4.06%. Key highlights include:

- Loan growth of $21.2 million (7.24% annualized)
- Net interest margin increased to 4.06% from 3.99% in Q1 2024
- Efficiency ratio improved to 57.97% from 61.48% in Q1 2024
- Tangible book value grew to $16.531, up 10.27% year-over-year

The company declared a Q3 dividend of $0.0921 per share and redeemed $8.25 million of subordinated debt. Management plans to retire the remaining $15 million subordinated debt in July 2025 when eligible.

Morris State Bancshares, Inc. announced a net income of $4.9 million for the first quarter of 2024, marking a 19.17% increase compared to the same period last year. However, net income decreased by 17.55% from the previous quarter. The company reported stable core earnings with a 3.99% net interest margin and a 17 basis point increase in the average yield on earning assets. Noninterest expense and provision for income taxes saw significant increases during the quarter. Shareholders' equity grew by 2.16% to $182 million, and a second quarter dividend of $0.461 per share was declared.

Morris State Bancshares, Inc. announced a stock dividend, giving four additional shares for every share owned to shareholders, resulting in a fivefold increase in shares held. The move aims to boost trading in their stock and align the price per share with industry peers, without impacting the company's overall value. Future dividends and financial results will be adjusted accordingly, demonstrating a commitment to shareholder value.

Morris State Bancshares, Inc. (MBLU) reported its financial results for the quarter and year ended December 31, 2023, including year over year and quarter by quarter comparisons. The company's Board of Directors declared a quarterly cash dividend of $0.46 per common share on January 24, 2024.

Morris State Bancshares, Inc. announces a decrease in net income for the third quarter of 2023 compared to the previous quarter. The company experienced solid loan growth and an increase in shareholders' equity. CD funding is expected to rise in the future.