NBC BANCORP INC - NCXS STOCK NEWS

NBC Bancorp, Inc. (OTCPK:NCXS) has announced the leasing of 6,600 square feet of office space at 1003 New Loudon Road, Latham, NY. This new location will enhance the Bank's commercial lending capabilities and administrative functions, supporting its loan growth in the Capital Region. The Bank's corporate headquarters will remain in Coxsackie, NY. In 2022, the Bank reported significant loan growth, with total assets exceeding $500 million. Construction is set to be completed by BBL Construction Services, with an expected occupancy in the summer of 2023.

National Bank of Coxsackie has donated $2,000 to the Greene County YMCA’s Annual Campaign, supporting community programs like Running Start and Basket Brigade. These initiatives provide essential resources, such as school supplies and Thanksgiving meals, to families in need. Greene County YMCA Executive Director Toni Carroll expressed gratitude for the bank's contribution, which significantly impacts local families. Mark Maraglio, Senior VP of the bank, also emphasized their commitment to supporting community organizations that help those in need. This donation illustrates the bank's role in enhancing community welfare in Greene County.

On December 21, 2022, NBC Bancorp, Inc. (OTCPK:NCXS) declared a semi-annual cash dividend of $0.53 (regular) plus $0.25 (special) per common share, scheduled for payment on January 26, 2023. Shareholders on record as of January 3, 2023, will receive this dividend. The increase marks the second consecutive rise in regular dividends, highlighting Bancorp's strong performance and commitment to rewarding its investors. Established in 1852, Bancorp operates eight branches in New York State, primarily in Albany, Greene, and Schoharie counties.

NBC Bancorp, Inc. (OTCPK:NCXS), the holding company for The National Bank of Coxsackie, reported its 2022 financial results. Net income for the year was $3.5 million ($7.44 per share), down from $4.1 million ($8.72 per share) in 2021. The decrease includes a notable drop in PPP fee income, which fell from $1.57 million in 2021 to $398,576 in 2022. However, total assets increased by $39.6 million, and net loans rose by $59.5 million, reflecting a growth of 21%. Asset quality remained solid with a noncurrent loans ratio of 0.08%.

The National Bank of Coxsackie has appointed Stephen McCormick as Vice President/Commercial Loan Officer. McCormick brings over 10 years of experience from Sunmark Credit Union, focusing on building relationships with commercial clients. CEO John A. Balli expressed enthusiasm about McCormick's contribution to the bank's growth strategy in the Capital Region. Founded in 1852, the bank serves the region with eight locations and aims to provide top-tier banking solutions with personalized service.

The National Bank of Coxsackie (OTC-PINK:NCXS) has appointed Sarah Hodgens as its new Chief Compliance Officer, bringing nearly 20 years of banking industry experience. Previously, Hodgens served as Vice President of Compliance at Ascentra Credit Union and has held roles at the New York Credit Union Association and First Niagara Bank. CEO John A. Balli expressed confidence in Hodgens' capabilities to enhance compliance initiatives and support the bank's growth.