MORRIS ST BANCSHARES INC - MBLU STOCK NEWS

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.

Morris State Bancshares, Inc. (OTCQX: MBLU) reported strong financial results for Q4 and full-year 2022. Net income for Q4 was $6.6 million, up from $2.1 million in Q3 2022 and down from $7.1 million in Q4 2021. Diluted earnings per share reached $3.14, compared to $0.99 in Q3 2022 and $3.38 in Q4 2021. Full-year net income totaled $21.1 million, compared to $24.0 million in 2021. Total assets increased to $1.44 billion, while total shareholders’ equity rose to $165.0 million. Despite challenges, the bank achieved a return on average assets of 1.66% for the year. A quarterly dividend of $0.44 per share has been approved for Q1 2023.

Morris State Bancshares, Inc. (OTCQX: MBLU) reported a net income of $2.1 million for Q3 2022, down 69.11% from $6.8 million in Q2 2022. Diluted EPS also decreased by 69.47% to $0.98. The decline in earnings was attributed to a $3.1 million charge-off related to a loan with identified weaknesses, leading to a total provision expense of $3.8 million, compared to $375,000 in the previous quarter. Despite these challenges, loan growth was stable, increasing by $20.6 million, and tangible book value rose to $70.01 per share. A dividend of $0.44 per share was approved for Q4 2022.