Welcome to our dedicated page for Ottawa news (Ticker: OTTW), a resource for investors and traders seeking the latest updates and insights on Ottawa stock.
Ottawa Bancorp, Inc. (OTTW) provides essential banking services through Ottawa Savings Bank, serving Illinois communities since 1871. This news hub offers investors and stakeholders timely access to official updates and financial developments.
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OTTAWA, Ill., Feb. 15, 2023 - Ottawa Bancorp, Inc. (OTCQX: OTTW) has declared a quarterly cash dividend of $0.11 per share. The dividend will be payable on or about March 15, 2023, to stockholders of record as of the close of business on March 1, 2023. Ottawa Bancorp, the holding company for OSB Community Bank, offers a range of financial services, including various deposit accounts and loans, serving individual and corporate clients across the United States. Founded in 1871, OSB Community Bank is headquartered in Ottawa, Illinois.
Ottawa Bancorp, Inc. (OTCQX: OTTW) reported a net income of $0.6 million ($0.22 per share) for Q4 2022, down from $0.8 million ($0.28 per share) in Q4 2021. Annual net income decreased to $2.5 million ($0.96 per share) from $2.9 million ($1.03 per share) in 2021. The loan portfolio rose to $307.8 million, but non-performing loans increased from $1.6 million to $2.3 million, raising the non-performing loans ratio to 0.73%. Ottawa Bancorp repurchased 954,042 shares at an average price of $13.53 each. The Company has faced challenges due to a higher interest rate environment, but net interest margin remained stable. The annual meeting of stockholders is scheduled for May 17, 2023.
Ottawa Bancorp (OTCQX: OTTW) has announced the expiration of its stock repurchase program as of November 29, 2022. The program, initiated on December 1, 2021, resulted in the repurchase of 254,457 shares at an average price of $14.24 per share. This buyback aims to enhance shareholder value by reducing the number of outstanding shares. Ottawa Bancorp operates OSB Community Bank, offering a range of financial services and loans since its founding in 1871.
Ottawa Bancorp, Inc. (OTCQX: OTTW) reported a net income of $0.3 million for Q3 2022, down from $0.8 million in Q3 2021. Year-to-date net income was $1.9 million, slightly lower than $2.1 million in 2021. The loan portfolio grew to $299.6 million despite rising non-performing loans, which increased from $1.6 million to $3.3 million. The Board declared a quarterly dividend of $0.11 per share, payable on December 14, 2022. Rising interest rates have impacted operations, but net interest margin remained steady.
Ottawa Bancorp, Inc. (OTCQX: OTTW) reported a net income of $0.7 million ($0.28/share) for Q2 2022, stable compared to Q2 2021. For H1 2022, net income rose to $1.6 million ($0.59/share), up from $1.3 million the previous year. The loan portfolio increased to $290.6 million, despite a slowdown in loan originations. Non-performing loans decreased to $1.0 million, improving the ratio to 0.35%. The Company declared a quarterly cash dividend of $0.11 per share, payable on September 14, 2022, to shareholders as of August 31, 2022.
Ottawa Bancorp, Inc. (OTCQX: OTTW) has appointed Tracie Steider as the new Chief Operating Officer, effective June 15, 2022. Steider, who has been with the company since 2014, will maintain oversight of human resources in her new role. Her promotion is seen as a recognition of her contributions and skills. Mark Stoudt will remain as Executive Vice President and Chief Lending Officer, allowing him more focus on lending operations. Under Stoudt's leadership since 2019, the company has increased its assets from $293 million to $349 million and grown its loan portfolio from $236 million to $282 million.
Ottawa Bancorp, Inc. (OTCQX: OTTW) has declared a quarterly cash dividend of $0.11 per share. This dividend will be payable on or about June 15, 2022 to stockholders of record as of the close of business on June 1, 2022. Headquartered in Ottawa, Illinois, Ottawa Bancorp serves customers through its wholly-owned subsidiary, OSB Community Bank, offering a range of financial services including various deposit accounts and loans.
Ottawa Bancorp, Inc. (OTCQX: OTTW) reported a net income of $0.9 million, or $0.33 per share, for Q1 2022, up from $0.6 million, or $0.20 per share, in Q1 2021. The loan portfolio decreased to $281.6 million due to higher payoffs than originations. Non-performing loans fell from $1.8 million to $1.1 million, improving the ratio of non-performing loans to 0.37%. Total deposits rose by 3% to $281.2 million. The company also repurchased 737,585 shares at an average price of $13.35. The focus remains on high-quality loan growth amid rising interest rates.
OTTAWA, Ill., Feb. 16, 2022 – Ottawa Bancorp, Inc. (OTCQX: OTTW) has announced a quarterly cash dividend increase from $0.10 to $0.11 per share, to be paid on March 16, 2022, for stockholders of record as of March 2, 2022. Additionally, Dianna Torman has been appointed to the Board of Directors, bringing extensive experience from her previous role as President and CEO of Prairie Community Bank. This leadership change is expected to enhance the Board's effectiveness.
