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, 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.
Morris State Bancshares, Inc. (OTCQX: MBLU) reported a net income of $6.8 million for Q2 2022, a 22.31% increase from the previous quarter's $5.6 million. Diluted earnings per share rose 21.59% to $3.21. The growth was primarily driven by increased net interest income of $14.1 million and a decline in non-interest expenses, bolstered by a one-time health insurance adjustment. Total shareholders’ equity rose 3.72% to $159 million. The bank also announced a $0.44 per share dividend.
Morris State Bancshares, Inc. (MBLU) reported a net income of $5.2 million for Q1 2022, consistent with Q1 2021 but below the record $7.1 million in Q4 2021. The tangible book value increased by 15.24% year-over-year to $66.98 as of March 31, 2022. Key highlights include a 16.76% annualized loan growth of $38.3 million and a core deposit growth of 14.72%. Despite challenges such as higher salaries and reduced net interest income, management remains optimistic about continued organic growth and protecting shareholder equity, with a dividend of $0.44 per share announced for Q2 2022.
Morris State Bancshares reported a net income of $24.0 million for the year-end December 31, 2021, a 37.66% increase from $17.4 million in 2020. Diluted EPS also rose by 37.35% to $11.40. Key highlights include an 11.52% growth in net interest income to $54.4 million and organic loan growth of $146 million or 19.01%. The return on average assets improved to 1.96%, while tangible book value per share grew 15.56% to $64.77. A dividend of $0.44 per share was approved for Q1 2022.
Morris State Bancshares, Inc. (OTCQX: MBLU) reported a net income of $6.2 million for Q3 2021, a 13.24% increase from Q2 2021. Diluted EPS also increased by 13.08% to $2.94 per share. The rise in net earnings was attributed to reduced credit and tax provisions, along with higher non-interest income. Total shareholders’ equity rose 3.76% to $143 million. Notably, loan growth net of PPP loans was $37 million (4.48%). The bank’s provision for loan losses decreased to $450 thousand from $750 thousand in the previous quarter.
Morris State Bancshares, Inc. (OTCQX: MBLU) reported a net income of $5.5 million for Q2 2021, a 4.62% increase from the previous quarter. Diluted earnings per share rose to $2.60, up 4.42% from $2.49. The company’s total shareholders’ equity increased 4.90% to $138 million. Loans, excluding PPP loans, grew by 2.9% or $25 million, but gross portfolio revenue declined 3.0% due to lower PPP fee revenue. The third-quarter dividend of $0.38 per share is payable on September 15, 2021.
Morris State Bancshares, Inc. (OTCQX: MBLU) reported a net income of $5.2 million for Q1 2021, a 29.26% increase from $4.0 million in Q1 2020. Diluted earnings per share rose to $2.49, reflecting a 29.02% growth. Key growth drivers included strong fe income from the PPP program and cost management, leading to a 26.65% rise in net interest income to $13.6 million. Shareholders' equity grew by 14.80% to $131 million. However, net interest margin decreased to 4.37%, down 21 basis points year-over-year.
Morris State Bancshares, Inc. (MBLU) reported a net income of $17.4 million for the year ended December 31, 2020, a 27.80% increase from $13.6 million in 2019. Diluted earnings per share rose 20.82% to $8.30. Key drivers included strong fee income from the SBA Paycheck Protection Program and robust mortgage production. Core deposits grew over 37% to $896 million, with noninterest-bearing deposits increasing 45%. Total shareholders' equity climbed 16.15% to $129 million, and tangible book value per share reached $56.04. A dividend of $0.38 per share was also approved for March 2021.
