Welcome to our dedicated page for Morris St Bancsh news (Ticker: MBLU), a resource for investors and traders seeking the latest updates and insights on Morris St Bancsh stock.
Morris State Bancshares, Inc. (MBLU) provides traditional banking services through Morris Bank, specializing in commercial lending and community-focused financial solutions. This news hub offers investors and stakeholders timely access to official announcements, regulatory updates, and strategic developments.
Track MBLU's financial performance through quarterly earnings reports, leadership changes, and operational milestones. Our curated collection ensures transparent access to press releases about loan portfolio updates, regulatory compliance achievements, and market expansion initiatives.
Key updates include net interest margin trends, risk management enhancements, and community banking initiatives. Bookmark this page for verified information about MBLU's financial health, strategic partnerships, and industry positioning – essential for informed decision-making in regional banking investments.
Morris State Bancshares (OTCQX: MBLU) reported Q1 2025 net income of $4.9 million, a slight increase of 0.45% from Q1 2024, but down 20.04% from Q4 2024's $6.1 million. The bank achieved loan growth of $23 million (2.12%), representing an annualized growth rate of 8.48%.
The net interest margin improved to 4.29% in Q1 2025, up from 4.17% in Q4 2024 and 3.99% in Q1 2024. Asset quality showed improvement with the adversely classified asset index declining to 4.66%. The decline in quarterly earnings was primarily attributed to higher income tax provisioning, increased CECL-related reserves, and higher salary expenses.
The board approved a Q2 2025 dividend of $0.12 per share. Total shareholders' equity increased 1.18% to $198 million, with tangible book value growing to $17.66.
Morris State Bancshares (OTCQX: MBLU) has announced a one-time special dividend of $0.15 per common share. The dividend will be paid on March 21, 2025, to shareholders of record as of February 15, 2025.
Chairman and CEO Spence Mullis emphasized the company's financial strength and resilience, stating that this special dividend demonstrates their confidence in the bank's trajectory and ability to generate value through both earnings and dividends while maintaining positioning for strategic opportunities.
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.
