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Marquette National Corporation (OTCQX: MNAT) is a diversified financial holding company based in Chicago, Illinois. As the parent company of Marquette Bank, a full-service community bank, it caters to the financial needs of communities within the Chicagoland area. Marquette Bank operates branches in several Illinois locations, including Chicago, Bolingbrook, Bridgeview, Evergreen Park, Hickory Hills, Lemont, New Lenox, Oak Forest, Oak Lawn, Orland Park, Summit, and Tinley Park.
The company has shown significant financial improvements over recent periods. As of December 31, 2023, Marquette National Corporation reported total assets of $2.142 billion, marking a 3% increase from $2.083 billion at the end of 2022. Despite a minor decrease of $2.6 million in total loans, the company saw an increase in total deposits by $21 million, reaching $1.710 billion.
Marquette National Corporation's financial performance for the first nine months of 2023 has been particularly noteworthy. The company reported a year-to-date net income of $12.3 million compared to a net loss of $6.8 million for the same period in 2022. This resulted in earnings per share of $2.81, contrasting with a loss of $1.55 per share in the previous year. The primary driver for the increase in earnings was a higher level of unrealized gains on the company's equity portfolio. However, the subsidiary Bank's earnings were slightly impacted by a $1.1 million pretax asset write-down due to the closure of the Romeoville, Illinois branch in the second quarter of 2023.
Marquette National Corporation continues to focus on serving its community through a full range of banking services, including personal banking, business banking, and wealth management services. The company is dedicated to maintaining strong financial health and strategic growth, benefiting both shareholders and community members alike.
For more detailed financial information, including the latest consolidated financial statements, please visit their official disclosure page.
On April 20, 2023, Marquette National Corporation (OTCQX: MNAT) declared a cash dividend of $0.28 per share, payable on July 3, 2023 to shareholders of record by June 16, 2023. As of March 31, 2023, the company had 4,367,506 shares outstanding and total assets amounting to approximately $2.119 billion. Marquette National Corporation operates as a diversified bank holding company through its subsidiary, Marquette Bank, which offers various financial services across 21 branches in the Chicagoland area, including retail banking, real estate lending, and wealth management.
Marquette National Corporation (OTCQX: MNAT) reported a net loss of
Marquette National Corporation (OTCQX: MNAT) announced a cash dividend of
Marquette Bank has appointed Mary Klingenberger to its Board of Directors. Klingenberger, who has been a director at Marquette National Corporation since 2015, brings over 28 years of banking experience, including leadership roles at BMO Harris. She recently retired as President of Mother McAuley Liberal Arts High School, where she inspired young women. Chairman Paul M. McCarthy expressed confidence in Klingenberger’s community and banking experience, which will enhance governance continuity between the bank and its holding company. Marquette National Corporation has total assets of approximately $2.069 billion.
Marquette National Corporation (OTCQX: MNAT) reported a net loss of $6.8 million for the nine months ended September 30, 2022, compared to a net income of $11.6 million in the same period of 2021. Earnings per share decreased from $2.65 to ($1.55). Total assets as of September 30, 2022, decreased by 1% to $2.069 billion, while total loans rose by 7% to $1.368 billion. Total deposits also increased by 1% to $1.764 billion. The decline in earnings was attributed to the depreciation of the parent company's equity portfolio.
Marquette National Corporation (OTCQX: MNAT) has declared a cash dividend of $0.28 per share, payable on January 3, 2023, to shareholders of record as of December 16, 2022. With roughly 4,355,488 shares outstanding, this move reflects the company's ongoing commitment to providing returns to its investors. As of September 30, 2022, Marquette's total assets were approximately $2.069 billion, emphasizing its substantial presence in the financial sector, particularly through its community banking services across various Chicago locations.
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