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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.
Marquette National Corporation (OTCQX: MNAT) reported a year-to-date net loss of $8.6 million for the first half of 2022, compared to a net income of $9.9 million in the same period of 2021. This resulted in an earnings per share loss of $1.97, down from $2.24 in 2021. As of June 30, 2022, total assets decreased to $2.084 billion, while total loans rose by 3% to $1.308 billion. Total deposits increased by 2% to $1.765 billion. The decline in earnings was attributed to reduced value in the parent company's equity portfolio.
Marquette National Corporation (OTCQX: MNAT) has declared a cash dividend of $0.28 per share, payable on October 3, 2022, to shareholders on record as of September 16, 2022. As of June 30, 2022, the company had 4,363,674 shares outstanding. Marquette, a diversified bank holding company with total assets around $2.084 billion, operates Marquette Bank, providing a range of financial services through 21 branches in the Chicagoland area.
Marquette National Corporation (OTCQX: MNAT) reported a net loss of $2.3 million for Q1 2022, a decline from a net income of $2.4 million in Q1 2021. Earnings per share fell to ($0.53) from $0.54 year-over-year. Total assets remained stable at approximately $2.094 billion. The company saw a 3% increase in total loans to $1.301 billion and a 1% increase in total deposits to $1.753 billion. CEO Paul M. McCarthy attributed the earnings drop to unrealized losses on their equity portfolio.
On April 27, 2022, Marquette National Corporation (OTCQX: MNAT) announced a cash dividend of $0.28 per share, payable on July 1, 2022, to shareholders of record as of June 17, 2022. The company has approximately 4,376,189 shares outstanding as of March 31, 2022. Marquette National Corporation operates a diversified banking business with total assets around $2.091 billion and serves the Chicagoland area through its subsidiary, Marquette Bank, providing a variety of financial services across 21 branches.
Marquette National Corporation (OTCQX: MNAT) announced a cash dividend increase of $0.28 per share, reflecting a 3.7% rise from the previous quarter. This dividend will be payable on April 1, 2022 to shareholders recorded by March 18, 2022. As of December 31, 2021, Marquette had 4,373,071 shares outstanding and total assets of approximately $2.094 billion. The bank operates 21 branches across the Chicagoland area, providing a range of financial services.
Marquette Bank, located in Orland Park, Ill., was awarded the 2021 ABA Foundation Community Commitment Award for its Mobile Food Pantry initiative, enhancing community support during the pandemic. This program distributed over 6,000 food boxes through partnerships with local organizations and employee volunteers. Recognized for creativity in volunteerism, Marquette Bank continues to address critical community needs through its Neighborhood Commitment. The bank operates 23 offices in the Chicagoland area and is a subsidiary of Marquette National Corporation (OTCQX: MNAT), boasting assets over $1.9 billion.
Marquette National Corporation (OTCQX: MNAT) reported a year-to-date net income of $11.6 million for the first nine months of 2021, down from $14.2 million in 2020. Earnings per share decreased to $2.65 from $3.23. Total assets rose by 7% to $2.053 billion, with loans increasing by 3% to $1.261 billion and deposits up 8% to $1.696 billion. CEO Paul M. McCarthy attributed the earnings decline primarily to lower equity portfolio appreciation.
Marquette National Corporation (OTCQX: MNAT) has declared a cash dividend of $0.27 per share, payable on January 3, 2022, to shareholders of record by December 17, 2021. This dividend decision reflects the company's financial stability, with total assets approximating $2.053 billion as of September 30, 2021. Additionally, the Board authorized a stock repurchase program of up to $1.5 million to be executed through December 31, 2022.
Marquette National Corporation (OTCQX: MNAT) reported a year-to-date net income of $9.9 million for the first half of 2021, up from $6.6 million in 2020. Earnings per share rose to $2.24 from $1.51. Total assets increased to $2.023 billion, a 5% rise, while total loans grew by 3% to $1.257 billion. Total deposits also saw a 6% increase, reaching $1.664 billion. The growth is attributed to a lower provision for loan losses and higher equity portfolio appreciation.
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