Oakworth Capital Inc. Reports Strong Profitability Growth in Fiscal Year 2024
Oakworth Capital Inc. (OAKC) reported significant financial growth in 2024, with net income reaching $15.8 million, up 38.5% from 2023's core net income of $11.4 million. The company achieved diluted earnings per share of $3.19, compared to $0.96 in 2023. Revenue increased 18% year-over-year to $71 million, while expense growth was contained at 14%.
The company demonstrated strong growth across key metrics: wealth assets increased 14% to $2.3 billion, total bank assets rose 12% to $1.8 billion, period-end loans grew 17% to $1.5 billion, and period-end deposits increased 12% to $1.6 billion. Credit quality remained robust with minimal net charge-offs of 0.03% and non-performing loans of just $325K.
The company maintained healthy capital ratios with Tier 1 Capital at 10.5%, Total Capital Ratio at 11.6%, and Leverage Ratio at 9.5%.
Oakworth Capital Inc. (OAKC) ha riportato una significativa crescita finanziaria nel 2024, con un reddito netto che ha raggiunto i 15,8 milioni di dollari, in aumento del 38,5% rispetto al reddito netto core di 11,4 milioni di dollari del 2023. L'azienda ha ottenuto utili diluiti per azione di 3,19 dollari, rispetto a 0,96 dollari nel 2023. I ricavi sono aumentati del 18% rispetto all'anno precedente, raggiungendo i 71 milioni di dollari, mentre la crescita delle spese è stata contenuta al 14%.
L'azienda ha dimostrato una forte crescita in metriche chiave: gli attivi patrimoniali sono aumentati del 14% a 2,3 miliardi di dollari, gli attivi totali della banca sono aumentati del 12% a 1,8 miliardi di dollari, i prestiti a fine periodo sono aumentati del 17% a 1,5 miliardi di dollari, e i depositi a fine periodo sono aumentati del 12% a 1,6 miliardi di dollari. La qualità del credito è rimasta robusta con minimi addebiti netti dello 0,03% e prestiti non performanti di soli 325 mila dollari.
L'azienda ha mantenuto rapporti patrimoniali sani con il Capitale di Base al 10,5%, il Rapporto di Capitale Totale all'11,6% e il Rapporto di Leva al 9,5%.
Oakworth Capital Inc. (OAKC) reportó un crecimiento financiero significativo en 2024, con un ingreso neto que alcanzó los 15.8 millones de dólares, un aumento del 38.5% respecto al ingreso neto básico de 11.4 millones de dólares en 2023. La compañía logró ganancias diluidas por acción de 3.19 dólares, en comparación con 0.96 dólares en 2023. Los ingresos aumentaron un 18% interanual hasta 71 millones de dólares, mientras que el crecimiento de los gastos se limitó al 14%.
La empresa mostró un fuerte crecimiento en métricas clave: los activos de patrimonio aumentaron un 14% a 2.3 mil millones de dólares, los activos totales del banco crecieron un 12% a 1.8 mil millones de dólares, los préstamos a fin de período crecieron un 17% a 1.5 mil millones de dólares, y los depósitos a fin de período aumentaron un 12% a 1.6 mil millones de dólares. La calidad crediticia permaneció robusta con mínimas cancelaciones netas del 0.03% y préstamos en mora de solo 325 mil dólares.
La empresa mantuvo ratios de capital saludables, con un Capital de Nivel 1 del 10.5%, un Ratio de Capital Total del 11.6%, y un Ratio de Apalancamiento del 9.5%.
Oakworth Capital Inc. (OAKC)는 2024년에 상당한 재무 성장을 보고했으며, 순이익이 1580만 달러에 달했습니다, 이는 2023년의 1140만 달러에서 38.5% 증가한 수치입니다. 회사는 희석 주당 순이익이 3.19달러에 달했다고 보고했으며, 이는 2023년의 0.96달러와 비교됩니다. 수익은 전년 대비 18% 증가하여 7100만 달러에 이르렀고, 비용 증가율은 14%로 제한되었습니다.
회사는 주요 지표에서 강력한 성장을 보여주었습니다: 재산 자산이 14% 증가하여 23억 달러에 달했습니다, 총 은행 자산은 12% 증가하여 18억 달러에 이르렀고, 기간 말 대출은 17% 증가하여 15억 달러에 달했으며, 기간 말 예금은 12% 증가하여 16억 달러에 도달했습니다. 신용 품질은 0.03%의 최소 순 손실과 32만 5000달러에 불과한 비수익 대출로 근본적으로 건전했습니다.
회사는 기본자본 비율이 10.5%, 총 자본 비율이 11.6%, 레버리지 비율이 9.5%로 건강한 자본 비율을 유지했습니다.
Oakworth Capital Inc. (OAKC) a rapporté une croissance financière significative en 2024, avec un revenu net atteignant 15,8 millions de dollars, soit une augmentation de 38,5 % par rapport au revenu net de base de 11,4 millions de dollars en 2023. L'entreprise a réalisé un bénéfice dilué par action de 3,19 dollars, contre 0,96 dollars en 2023. Le chiffre d'affaires a augmenté de 18 % d'une année sur l'autre pour atteindre 71 millions de dollars, tandis que la croissance des dépenses a été contenue à 14 %.
L'entreprise a démontré une forte croissance dans des indicateurs clés : les actifs de richesse ont augmenté de 14 % pour atteindre 2,3 milliards de dollars, les actifs totaux de la banque ont augmenté de 12 % pour atteindre 1,8 milliard de dollars, les prêts en fin de période ont augmenté de 17 % pour atteindre 1,5 milliard de dollars et les dépôts en fin de période ont augmenté de 12 % pour atteindre 1,6 milliard de dollars. La qualité du crédit est restée robuste avec des annulations nettes minimales de 0,03 % et des prêts non performants s'élevant à seulement 325 000 dollars.
L'entreprise a maintenu des ratios de capital sains avec un capital de premier niveau à 10,5 %, un ratio de capital total à 11,6 % et un ratio de levier à 9,5 %.
Oakworth Capital Inc. (OAKC) berichtete 2024 von einem signifikanten finanziellen Wachstum, wobei der Nettogewinn 15,8 Millionen Dollar erreichte, was einem Anstieg von 38,5% im Vergleich zum Kernnettogewinn von 11,4 Millionen Dollar im Jahr 2023 entspricht. Das Unternehmen erzielte verwässerte Erträge pro Aktie von 3,19 Dollar, im Vergleich zu 0,96 Dollar im Jahr 2023. Der Umsatz stieg um 18% im Jahresvergleich auf 71 Millionen Dollar, während das Kostenwachstum auf 14% begrenzt wurde.
Das Unternehmen zeigte starkes Wachstum in den wichtigsten Kennzahlen: Vermögenswerte stiegen um 14% auf 2,3 Milliarden Dollar, die Gesamthabensumme der Bank stieg um 12% auf 1,8 Milliarden Dollar, Kredite zum Periodenende wuchsen um 17% auf 1,5 Milliarden Dollar, und Einlagen zum Periodenende erhöhten sich um 12% auf 1,6 Milliarden Dollar. Die Kreditqualität blieb robust mit minimalen Nettogutschriften von 0,03% und notleidenden Krediten von nur 325.000 Dollar.
Das Unternehmen hielt gesunde Kapitalquoten mit einem Kernkapital von 10,5%, einer Gesamtkapitalquote von 11,6% und einer Verschuldungsquote von 9,5%.
- Net income increased 38.5% to $15.8 million in 2024
- Revenue grew 18% year-over-year to $71 million
- Wealth assets increased 14% to $2.3 billion
- Period-end loans grew 17% to $1.5 billion
- Strong credit quality with minimal net charge-offs (0.03%)
- Positive operating leverage with revenue growth exceeding expense growth
- Expense growth of 14% year-over-year
Oakworth reported a
Oakworth's Chairman and CEO Scott Reed stated, "Our growth and profitable performance in 2024 set the stage for an exciting 2025. We look forward to expanding on our success by continuing to deliver exceptional levels of service and innovative solutions to new and existing clients across our markets."
Credit quality remains strong with net charge-offs of
At December 31, 2024, Tier 1 Capital was
Additional Information:
12023 "core" results exclude
2Certain risk-weighted assets related to unconditionally cancellable contracts were reclassified in the December 31, 2024 call report.
About Oakworth Capital Inc. and Oakworth Capital Bank
Oakworth Capital, Inc. operates as the bank holding company for Oakworth Capital Bank (Oakworth) (OTCQX: OAKC). Oakworth was founded in 2008 and operates four offices in the Southeast, including its headquarters in
Oakworth has been ranked among American Banker's "Best Banks to Work for" for the past eight years, holding the top spot for six of those and ranking #2 most recently. Additionally, Oakworth's 2024 average Net Promoter Score (NPS) was 94 with a commensurate client retention rate of
For more information contact:
Jenifer Kimbrough
Phone: 205-263-4704
Email: jenifer.kimbrough@oakworth.com
OAKWORTH CAPITAL INC. | ||||||||||||||||||
WEALTH AND TRUST (Unaudited) | ||||||||||||||||||
(In millions) | As of | Change | Change | |||||||||||||||
12/31/2024 | 9/30/2024 | 6/30/2024 | 3/31/2024 | 12/31/2023 | 12/31/2024 vs. 9/30/2024 | 12/31/2024 vs. 12/31/2023 | ||||||||||||
Wealth assets (non-balance sheet) | $ 2,297 | $ 2,308 | $ 2,200 | $ 2,156 | $ 2,016 | $ (11) | 0 % | $ 281 | 14 % | |||||||||
CONSOLIDATED CONDENSED STATEMENTS OF CONDITION (Unaudited) | ||||||||||||||||||
(in thousands) | As of | Change | Change | |||||||||||||||
12/31/2024 | 9/30/2024 | 6/30/2024 | 3/31/2024 | 12/31/2023 | 12/31/2024 vs. 9/30/2024 | 12/31/2024 vs. 12/31/2023 | ||||||||||||
Assets | ||||||||||||||||||
Cash and due from banks | $ 125,016 | $ 117,265 | $ 71,623 | $ 126,215 | $ 158,403 | $ 7,751 | 7 % | $ (33,387) | -21 % | |||||||||
Federal funds sold | 950 | 1,950 | 75 | 1,650 | 3,925 | (1,000) | -51 % | (2,975) | -76 % | |||||||||
Securities available for sale | 158,885 | 156,926 | 151,379 | 147,576 | 143,947 | 1,959 | 1 % | 14,938 | 10 % | |||||||||
Loans, net of unearned income | 1,455,238 | 1,411,569 | 1,357,150 | 1,280,129 | 1,244,133 | 43,669 | 3 % | 211,105 | 17 % | |||||||||
Allowance for credit losses | (16,330) | (16,494) | (15,895) | (15,048) | (14,652) | 164 | -1 % | (1,678) | 11 % | |||||||||
Loans, net | 1,438,908 | 1,395,075 | 1,341,255 | 1,265,081 | 1,229,481 | 43,833 | 3 % | 209,427 | 17 % | |||||||||
Fixed assets | 4,420 | 4,647 | 4,820 | 4,998 | 4,681 | (227) | -5 % | (261) | -6 % | |||||||||
Interest receivable | 6,678 | 6,478 | 6,903 | 6,279 | 6,284 | 200 | 3 % | 394 | 6 % | |||||||||
Other assets | 54,084 | 54,396 | 56,200 | 47,856 | 48,506 | (312) | -1 % | 5,578 | 11 % | |||||||||
Total assets | $ 1,788,941 | $ 1,736,737 | $ 1,632,255 | $ 1,599,655 | $ 1,595,227 | $ 52,204 | 3 % | $ 193,714 | 12 % | |||||||||
Liabilities and Stockholders' Equity | ||||||||||||||||||
Liabilities: | ||||||||||||||||||
Deposits: | ||||||||||||||||||
Non-interest bearing deposits | $ 274,872 | $ 255,008 | $ 274,968 | $ 266,083 | $ 319,986 | $ 19,864 | 8 % | $ (45,114) | -14 % | |||||||||
Interest-bearing deposits | 1,321,864 | 1,268,998 | 1,124,013 | 1,166,594 | 1,105,921 | 52,866 | 4 % | 215,943 | 20 % | |||||||||
Total deposits | 1,596,736 | 1,524,006 | 1,398,981 | 1,432,677 | 1,425,907 | 72,730 | 5 % | 170,829 | 12 % | |||||||||
Total Borrowings | 39,296 | 64,273 | 94,250 | 34,227 | 34,204 | (24,977) | -39 % | 5,092 | 15 % | |||||||||
Accrued interest payable | 1,149 | 643 | 1,517 | 703 | 1,070 | 506 | 79 % | 79 | 7 % | |||||||||
Other liabilities | 26,964 | 22,018 | 19,474 | 18,005 | 23,794 | 4,946 | 22 % | 3,170 | 13 % | |||||||||
Total liabilities | 1,664,145 | 1,610,940 | 1,514,222 | 1,485,612 | 1,484,975 | 53,205 | 3 % | 179,170 | 12 % | |||||||||
Total stockholders' equity | 124,796 | 125,797 | 118,033 | 114,043 | 110,252 | (1,001) | -1 % | 14,544 | 13 % | |||||||||
Total liabilities and stockholders' equity | $ 1,788,941 | $ 1,736,737 | $ 1,632,255 | $ 1,599,655 | $ 1,595,227 | $ 52,204 | 3 % | $ 193,714 | 12 % | |||||||||
OAKWORTH CAPITAL INC. | ||||||||||||||||||
CONSOLIDATED CONDENSED STATEMENTS OF INCOME (Unaudited) | ||||||||||||||||||
(in thousands) | Quarter Ended | Change | Change | |||||||||||||||
12/31/2024 | 9/30/2024 | 6/30/2024 | 3/31/2024 | 12/31/2023 | 4Q24 vs. 3Q24 | 4Q24 vs. 4Q23 | ||||||||||||
Interest income: | ||||||||||||||||||
Loans, including fees | $ 25,141 | $ 25,423 | $ 23,505 | $ 22,056 | $ 20,322 | $ (282) | -1 % | $ 4,819 | 24 % | |||||||||
Securities available for sale | 1,257 | 1,187 | 1,101 | 1,030 | 977 | 70 | 6 % | 280 | 29 % | |||||||||
Short term investments | 1,222 | 837 | 982 | 1,134 | 1,463 | 385 | 46 % | (241) | -16 % | |||||||||
Total interest income | 27,620 | 27,447 | 25,588 | 24,220 | 22,762 | 173 | 1 % | 4,858 | 21 % | |||||||||
Interest expense: | ||||||||||||||||||
Deposits | 11,807 | 12,296 | 11,429 | 11,189 | 9,976 | (489) | -4 % | 1,831 | 18 % | |||||||||
Borrowings | 804 | 1,253 | 1,044 | 548 | 1,219 | (449) | -36 % | (415) | -34 % | |||||||||
Total interest expense | 12,611 | 13,549 | 12,473 | 11,737 | 11,195 | (938) | -7 % | 1,416 | 13 % | |||||||||
Net interest income | 15,009 | 13,898 | 13,115 | 12,483 | 11,567 | 1,111 | 8 % | 3,442 | 30 % | |||||||||
Provision for credit losses | 1,080 | 599 | 847 | 396 | 10,792 | 481 | 80 % | (9,712) | -90 % | |||||||||
Net interest income after provision | 13,929 | 13,299 | 12,268 | 12,087 | 775 | 630 | 5 % | 13,154 | 1697 % | |||||||||
for loan losses | ||||||||||||||||||
Non-interest income | 4,108 | 3,943 | 4,051 | 4,219 | 3,753 | 165 | 4 % | 355 | 9 % | |||||||||
Non-interest expense | 12,721 | 11,638 | 11,497 | 11,320 | 11,013 | 1,083 | 9 % | 1,708 | 16 % | |||||||||
Income before income taxes | 5,316 | 5,604 | 4,822 | 4,986 | (6,485) | (288) | -5 % | 11,801 | 182 % | |||||||||
Provision for income taxes | 1,236 | 1,458 | 1,204 | 1,056 | (1,752) | (222) | -15 % | 2,988 | 171 % | |||||||||
Net Income | 4,080 | 4,146 | 3,618 | 3,930 | (4,733) | (66) | -2 % | 8,813 | 186 % | |||||||||
Earnings per share - basic | $ 0.82 | $ 0.84 | $ 0.73 | $ 0.80 | $ (0.97) | $ (0.02) | -2 % | $ 1.79 | 185 % | |||||||||
Earnings per share - diluted | $ 0.82 | $ 0.84 | $ 0.73 | $ 0.80 | $ (0.97) | $ (0.02) | -2 % | $ 1.79 | 185 % | |||||||||
OAKWORTH CAPITAL INC. | |||||||||
CONSOLIDATED CONDENSED STATEMENTS OF INCOME (Unaudited) | |||||||||
(in thousands) | YTD Period Ended | ||||||||
12/31/2024 | 12/31/2023 | Change | |||||||
Interest income: | |||||||||
Loans, including fees | $ 96,124 | $ 73,584 | $ 22,540 | 31 % | |||||
Securities available for sale | 4,577 | 3,510 | 1,067 | 30 % | |||||
Short term investments | 4,174 | 4,971 | (797) | -16 % | |||||
Total interest income | 104,875 | 82,065 | 22,810 | 28 % | |||||
Interest expense: | |||||||||
Deposits | 46,721 | 32,490 | 14,231 | 44 % | |||||
Borrowings | 3,648 | 4,025 | (377) | -9 % | |||||
Total interest expense | 50,369 | 36,515 | 13,854 | 38 % | |||||
Net interest income | 54,506 | 45,550 | 8,956 | 20 % | |||||
Provision for credit losses | 2,922 | 12,675 | (9,753) | -77 % | |||||
Net interest income after provision | 51,584 | 32,875 | 18,709 | 57 % | |||||
for loan losses | |||||||||
Non-interest income | 16,320 | 14,278 | 2,042 | 14 % | |||||
Non-interest expense | 47,176 | 41,250 | 5,926 | 14 % | |||||
Income before income taxes | 20,728 | 5,903 | 14,825 | 251 % | |||||
Provision for income taxes | 4,954 | 1,228 | 3,726 | 303 % | |||||
Net Income | 15,774 | 4,675 | 11,099 | 237 % | |||||
Earnings per share - basic | $ 3.19 | $ 0.96 | $ 2.23 | 232 % | |||||
Earnings per share - diluted | $ 3.19 | $ 0.96 | $ 2.23 | 232 % | |||||
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SOURCE Oakworth Capital Inc.
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