Ottawa - OTTW STOCK NEWS

Ottawa Bancorp, Inc. (OTCQX: OTTW) has declared a quarterly cash dividend of $0.10 per share, set to be paid on December 15, 2021, to shareholders of record as of December 1, 2021. This decision reflects the company's ongoing commitment to returning value to its investors. Ottawa Bancorp serves through its subsidiary, OSB Community Bank, which has operated since 1871, offering a variety of financial services including deposit accounts and loans for both individuals and businesses.

Ottawa Bancorp, Inc. (OTCQX: OTTW) reported a net income of $0.8 million for Q3 2021, equating to $0.29 per share, up from $0.27 in Q3 2020. For the nine months ending September 30, 2021, net income rose to $2.1 million, a 31.4% increase from $1.6 million in the same period last year. Deposits increased by 15.9% to $273.7 million, while total assets reached $343.2 million. Non-performing loans also rose slightly to $1.6 million, and stock repurchases were noted at 628,585 shares. The company completed its conversion to an Illinois state-chartered commercial bank.

Ottawa Bancorp, Inc. (OTCQX: OTTW) announced the conversion of its subsidiary Ottawa Savings Bank from a federally-chartered savings bank to an Illinois-chartered commercial bank, now named OSB Community Bank. This strategic move aims to enhance competitiveness in its markets. The charter conversion will not affect customers, as their deposits continue to be insured by the FDIC. Post-conversion, the Bank will be regulated by the Illinois Department of Financial and Professional Regulation and the FDIC, while the Company remains under Federal Reserve Board supervision.

OTTAWA, Ill., Aug. 18, 2021 (GLOBE NEWSWIRE) -- Ottawa Bancorp, Inc. (OTTW) has declared a quarterly cash dividend of $0.10 per share, payable on or about September 15, 2021, to shareholders of record as of September 1, 2021. Ottawa Bancorp serves as the holding company for Ottawa Savings Bank FSB, providing a range of financial services including deposit accounts and various loan options since its establishment in 1871.

On July 22, 2021, Ottawa Bancorp, Inc. (OTCWX: OTTW) reported a net income of $0.7 million for Q2 2021, a slight decrease from $0.8 million in Q2 2020. For the first half of 2021, net income increased to $1.3 million compared to $0.8 million in 2020. Loan originations surged, growing the loan portfolio to $280.8 million. Non-performing loans rose to $1.5 million, with a ratio of 0.54%. The bank repurchased 596,585 shares. The company is transitioning to an Illinois state-chartered commercial bank, aiming for completion by Q3 2021, enhancing strategic flexibility.

Ottawa Bancorp, Inc. (OTCQX: OTTW) declared a quarterly cash dividend of $0.10 per share on May 19, 2021. This dividend is payable on June 16, 2021, to stockholders on record as of June 2, 2021. Ottawa Bancorp operates as the holding company for Ottawa Savings Bank FSB, providing diverse financial services such as various deposit accounts and a range of loans, including mortgages and auto loans. Founded in 1871, the bank is headquartered in Ottawa, Illinois.

Ottawa Bancorp, Inc. (OTCQX: OTTW) announced its application to convert Ottawa Savings Bank from a federally-chartered savings bank to an Illinois-chartered commercial bank. This strategic move aims to enhance competitiveness and facilitate an expanded commercial loan portfolio, benefiting customer needs and reducing regulatory costs. The bank also plans to change its name to OSB Community Bank. The conversion is anticipated to be completed in Q3 2021, pending regulatory approval, with the Illinois Department of Financial and Professional Regulation and FDIC as primary regulators.

Ottawa Bancorp (OTCQX: OTTW) reported a net income of $0.6 million, or $0.20 per share, for Q1 2021, a significant increase from $0.1 million in Q1 2020. Loan originations drove a strong loan portfolio growth to $270.8 million, up from $255.1 million at the end of 2020. Non-performing loans decreased to $1.8 million, resulting in a lower non-performing loan ratio of 0.57%. Total assets increased by 5.1% to $323.4 million, supported by a 7.1% rise in total deposits. The company returned $1 million in dividends and continued its stock buyback program.

OTTAWA, Ill., Feb. 17, 2021 - Ottawa Bancorp, Inc. (OTCQX: OTTW) declared a special cash dividend of $0.25 per share for its common stock. This marks the third special dividend since the Company's stock conversion in 2016. Additionally, the quarterly cash dividend has been increased from $0.08 to $0.10 per share. Both dividends will be paid on or about March 17, 2021, to shareholders on record by the close of business on March 3, 2021. The Board believes this decision aligns with sound capital management while allowing for the Bank's growth.