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OTTAWA BANCORP INC - OTTW STOCK NEWS

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Ottawa Bancorp, Inc. (symbol: OTTW) is the holding company for Ottawa Savings Bank, a financial institution headquartered in Ottawa, Illinois. Established in 1871, Ottawa Bancorp has a longstanding history of providing a wide range of financial services to both individual and corporate customers in Illinois.

The company's deposit products include checking accounts, money market accounts, regular savings accounts, club savings accounts, certificates of deposit, and various retirement accounts, catering to diverse customer needs. The bank also offers a comprehensive loan portfolio that encompasses one-to-four family residential real estate mortgage loans, home equity lines of credit, multi-family loans, non-residential real estate loans, agricultural real estate loans, commercial loans, construction loans, and consumer loans such as auto loans, share loans, and personal unsecured loans.

Ottawa Bancorp has a strong reputation for stability and reliability, which is further demonstrated by its consistent financial performance and the commitment to serving the community. The company has undergone significant changes over the years, including a name change from Ottawa Savings Bancorp, Inc. to Ottawa Bancorp, Inc. in October 2016.

Recent financial reports show detailed comparisons of operational results for various periods, highlighting the bank's performance over time. For instance, the results for the three and nine months ended September 30, 2023, were compared with the same periods in 2022, providing insights into the bank's growth and financial health.

The company's leadership consists of experienced professionals like Craig Hepner, President and Chief Executive Officer, and Marc N. Kingry, Senior Vice President and Chief Financial Officer, who are dedicated to steering the bank towards continued success.

For the latest updates and detailed financial performance, you can contact Craig Hepner at (815) 366-5437 or Marc N. Kingry at (815) 433-2525.

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Ottawa Bancorp (OTCQX: OTTW) has announced the completion of its previously announced stock repurchase program. The company successfully repurchased 127,332 shares of its outstanding common stock at an average price of $13.51 per share. The buyback was executed through OSB Community Bank, Ottawa Bancorp's holding company.

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Ottawa Bancorp (OTCQX: OTTW), the holding company for OSB Community Bank, has declared a quarterly cash dividend of $0.11 per share. The dividend will be payable on December 18, 2024, to stockholders of record as of December 4, 2024. OSB Community Bank provides various financial services, including deposit accounts and loans, to individual and corporate customers in the United States. The bank's portfolio includes residential mortgage, multi-family and non-residential real estate, commercial, and construction loans, along with auto loans and home equity lines of credit.

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Ottawa Bancorp (OTTW) reported Q3 2024 net income of $0.2 million ($0.08 per share), down from $0.5 million ($0.20 per share) in Q3 2023. The loan portfolio decreased to $304.2 million from $312.2 million, with non-performing loans at $4.8 million. Interest income increased to $4.1 million from $3.8 million, while interest expense rose to $1.9 million from $1.5 million. The company continued its sixth stock repurchase program, buying back 64,221 shares at an average price of $13.38. Total assets decreased 2.4% to $355.2 million, and total deposits declined 2.1% to $275.3 million.

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Ottawa Bancorp, Inc. (OTCQX: OTTW), the holding company for OSB Community Bank, has announced a quarterly cash dividend of $0.11 per share. This dividend is payable on September 18, 2024, to stockholders of record as of the close of business on September 4, 2024.

OSB Community Bank, founded in 1871, offers various financial services including deposit accounts and loans. The bank's portfolio includes residential mortgage, multi-family and non-residential real estate, commercial, and construction loans, as well as auto loans and home equity lines of credit.

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Ottawa Bancorp (OTCQX: OTTW) reported a net loss of $0.2 million ($0.08 per share) for Q2 2024, compared to net income of $0.5 million ($0.22 per share) in Q2 2023. For H1 2024, net income was $0.1 million ($0.02 per share), down from $1.0 million ($0.39 per share) in H1 2023. The company executed a balance sheet management strategy, selling 21 investment securities for a $0.6 million loss to improve future net interest income. The loan portfolio decreased to $302.5 million from $312.2 million at year-end 2023. Non-performing loans increased slightly to 1.62% of gross loans. The company continued its stock repurchase program, buying back 11,425 shares at an average price of $11.72 in Q2 2024.

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Ottawa Bancorp, the holding company for OSB Community Bank, announced a stock repurchase program approved by its Board of Directors. The program authorizes the repurchase of 127,332 shares, representing 5% of the company's outstanding common stock. These repurchases will occur through open market purchases, under a trading plan pursuant to SEC Rule 10b5-1, or through privately negotiated transactions. The repurchase program will terminate either upon the completion of the 127,332 shares purchase or by February 10, 2025, whichever comes first. The program aims to capitalize on favorable market conditions and other relevant factors.

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Ottawa Bancorp, the holding company for OSB Community Bank, announced a quarterly cash dividend of $0.11 per share.

This dividend will be paid on June 12, 2024, to stockholders of record as of May 29, 2024. OSB Community Bank, founded in 1871 and headquartered in Ottawa, Illinois, offers a range of financial services including deposit accounts and various types of loans such as residential and commercial mortgages, auto loans, and home equity lines of credit. The bank serves both individual and corporate customers in the United States.

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Ottawa Bancorp, Inc. announced first quarter 2024 results showing a net income of $0.3 million, down from $0.4 million last year. The loan portfolio decreased to $306.1 million, non-performing loans remained at $4.8 million. Interest rates and local competition impacted cost of funds. Despite challenges, asset quality remains strong with a focus on improving earnings and shareholder value.

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Ottawa Bancorp, Inc. appoints Mark D. Alcott to its Boards of Directors under a standstill agreement with the Stilwell Group. The agreement includes share repurchase commitments and restrictions on the Stilwell Group's actions. The Company aims to enhance stockholder value through capital management strategies.
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Ottawa Bancorp, Inc. (OTTW) declares a quarterly cash dividend of $0.11 per share, showcasing financial stability and commitment to shareholders.
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FAQ

What is the current stock price of OTTAWA BANCORP (OTTW)?

The current stock price of OTTAWA BANCORP (OTTW) is $14.32 as of January 10, 2025.

What is the market cap of OTTAWA BANCORP (OTTW)?

The market cap of OTTAWA BANCORP (OTTW) is approximately 36.0M.

What services does Ottawa Bancorp Inc. provide?

Ottawa Bancorp Inc. offers a range of financial services including deposit products, various types of loans, and retirement accounts.

Where is Ottawa Bancorp Inc. headquartered?

Ottawa Bancorp Inc. is headquartered in Ottawa, Illinois.

When was Ottawa Bancorp Inc. founded?

Ottawa Bancorp Inc. was founded in 1871.

What changes has the company undergone?

The company changed its name from Ottawa Savings Bancorp, Inc. to Ottawa Bancorp, Inc. in October 2016.

Who are the key executives at Ottawa Bancorp Inc.?

Key executives include Craig Hepner, President and CEO, and Marc N. Kingry, Senior VP and CFO.

What types of loans does Ottawa Bancorp offer?

Ottawa Bancorp offers residential mortgages, home equity lines of credit, multi-family loans, commercial loans, agricultural loans, and various consumer loans.

How can I contact Ottawa Bancorp for more information?

You can contact Craig Hepner at (815) 366-5437 or Marc N. Kingry at (815) 433-2525.

What is the latest financial performance of Ottawa Bancorp?

Recent financial reports show comparisons of operational results for periods ending in 2023, highlighting the bank's financial health.

Does Ottawa Bancorp offer retirement accounts?

Yes, Ottawa Bancorp provides various retirement accounts as part of its deposit products.

What is the ticker symbol for Ottawa Bancorp Inc.?

The ticker symbol for Ottawa Bancorp Inc. is OTTW.
OTTAWA BANCORP INC

OTC:OTTW

OTTW Rankings

OTTW Stock Data

35.97M
3.12M
0.16%
Banks - Regional
Financial Services
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United States of America
Ottawa