OAKWORTH CAPITAL INC - OAKC STOCK NEWS

Oakworth Capital (OTCQX: OAKC) has announced its 10th consecutive annual cash dividend. The company's Board of Directors declared a dividend of $0.45 per common share, which will be paid on January 15, 2025, to shareholders of record as of December 13, 2024. This announcement was made following the board meeting held on November 20, 2024.

Oakworth Capital Bank (OTCQX: OAKC) has been recognized among the nation's 'Best Banks to Work For' by American Banker, ranking #2 this year. The bank has maintained this prestigious recognition for eight years, holding the top spot for six of those years. 89% of Oakworth associates participated in the survey, highlighting the bank's strong workplace culture, leadership support, and growth opportunities.

Associates praised the bank for its inclusive environment, commitment to core values, and investment in personal and professional development. As of September 30, 2024, Oakworth reported $1.7 billion in total assets, $1.4 billion in gross loans, $1.5 billion in deposits, and $2.3 billion in wealth and trust assets under management.

Oakworth Capital Inc. (OTCQX: OAKC) reported strong financial results for Q3 2024 and year-to-date 2024. Net income reached $4.1 million in Q3 and $11.7 million year-to-date, a 24% increase from the same period in 2023. Diluted earnings per share rose to $2.37 in the first three quarters of 2024, up from $1.93 in 2023.

The company experienced significant growth across key metrics: 23% increase in total loans, 19% increase in core deposits, 22% growth in wealth assets, and 20% increase in total assets year-over-year. Revenue growth (16%) outpaced expense growth (14%), resulting in a 21% increase in pre-tax, pre-provision income. The Central Carolinas office achieved profitability within 11 months of opening.

As of September 30, 2024, Oakworth's Tier 1 Capital was 9.7%, Total Capital Ratio was 10.7%, and Leverage Ratio was 9.3%. The company's CEO, Scott Reed, expressed satisfaction with the performance and anticipates a strong finish to 2024 and continued growth opportunities in 2025.

Oakworth Capital Bank (OTCQX: OAKC) has appointed six new members to its Central Carolinas Market Board. The new additions include Brent Beason (B&W Fiberglass Inc.), Tommy Hunter (Anderson LeNeave & Co.), Patricia Propst (Wray Ward), Hugh Shannon (retired from Bank of America), David B. Tucker (C.M. Tucker Lumber Companies), and Holly Welch Stubbing (National Philanthropic Trust).

These leaders join existing board members in guiding Oakworth's expansion in the Central Carolinas market. The board members praised Oakworth's personalized approach, innovative mission, and focus on client needs. This strategic move aims to strengthen Oakworth's presence and client relationships in the region.

Oakworth Capital Inc. (OTCQX: OAKC) reported strong financial results for Q2 2024 and the first half of the year. Net income reached $3.6 million in Q2 and $7.5 million year-to-date, marking a 20% increase from the same period in 2023. Diluted earnings per share rose to $1.53 in H1 2024, up from $1.28 in H1 2023. The company experienced significant growth across key metrics:

- Total loans: up 23%
- Total deposits: up 14%
- Wealth assets: up 11%
- Revenue: up 16% to $33.9 million
- Pre-tax, pre-provision income: up 14%

Oakworth's return on average equity stood at 13.3%, while return on average assets was 1.0% for H1 2024. The company's capital ratios remained strong, with Tier 1 Capital at 9.7%, Total Capital Ratio at 10.7%, and Leverage Ratio at 9.4% as of June 30, 2024.

Oakworth Capital Bank (OTCQX: OAKC) has appointed Dave Driscoll as Chief Information Security Officer (CISO) and T.J. Rock as Chief Information Officer (CIO). Driscoll, a founding member with over 30 years in technology, will oversee information, cyber, and tech security. Rock, with extensive experience in the tech sector, will advance Oakworth's technology platforms. These appointments aim to enhance risk management and tech adoption. CEO Scott Reed emphasized the alignment of tech resources with business goals. COO Sam Scalici highlighted Rock's broad experience, positioning Oakworth to establish a significant presence in the financial services sector.