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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.
OTTAWA, Ill., Feb. 4, 2021 - Ottawa Bancorp (OTCQX: OTTW) reported a net income of $0.8 million for Q4 2020, up from $0.6 million in Q4 2019, resulting in $0.30 per share. Annual net income rose 28.1% to $2.48 million, or $0.84 per share. The loan portfolio grew to $255.1 million while non-performing loans decreased to $1.9 million. The company has repurchased 562,256 shares at an average price of $12.98. CEO Craig Hepner expressed optimism for 2021 amid economic recovery, citing strong capital and asset quality.
Ottawa Bancorp, Inc. (OTCQX: OTTW) has approved a new stock repurchase program allowing the buyback of 297,047 shares, which is about 10% of its outstanding shares. As of September 30, 2020, the company previously repurchased 524,341 shares at an average price of $12.93. These transactions will take place through open market purchases, potentially under SEC Rule 10b5-1, and will be influenced by market conditions. The initiative aims to enhance shareholder value.
Ottawa Bancorp, Inc. (OTCQX: OTTW) has declared a quarterly cash dividend of $0.08 per share, set to be paid on December 16, 2020. The record date for stockholders is December 2, 2020. As the holding company for Ottawa Savings Bank FSB, Ottawa Bancorp provides a range of financial services including various deposit and loan products. Founded in 1871, the bank serves individual and corporate customers in the U.S.
Ottawa Bancorp, Inc. (OTCQX: OTTW) reported a net income of $0.8 million ($0.27/share) for Q3 2020, an increase from $0.5 million ($0.18/share) in Q3 2019. For the nine months ending September 30, 2020, net income reached $1.6 million ($0.55/share), up from $1.4 million ($0.44/share) in the prior year. The loan portfolio grew to $256.7 million, with a decrease in non-performing loans from $2.3 million to $1.8 million. However, stockholders’ equity fell by 3.6% to $48.9 million, impacted by share repurchases and dividends, despite ongoing support for customers during the COVID-19 pandemic.
Ottawa Bancorp, Inc. (OTCQX: OTTW) has declared a quarterly cash dividend of $0.08 per share, set for payment on or about September 16, 2020. This dividend will be distributed to stockholders of record as of the close of business on September 2, 2020. Ottawa Bancorp is the holding company for Ottawa Savings Bank FSB, providing a range of financial services including various deposit accounts and loans since its establishment in 1871.
Ottawa Bancorp, Inc. (OTCWX: OTTW) reported a net income of $0.8 million ($0.25 per share) for Q2 2020, up from $0.4 million ($0.14 per share) in Q2 2019. The total loan portfolio grew to $254.6 million, while non-performing loans decreased from $2.3 million to $1.9 million. The bank repurchased 401,214 shares at an average price of $13.80. Revenue from increased loan originations contributed to a rise in total other income to $1.1 million. However, net interest margin declined to 3.20%. The bank remains committed to supporting its community amid the COVID-19 pandemic.
Ottawa Bancorp, Inc. (OTCQX: OTTW), the holding company for Ottawa Savings Bank, has successfully transitioned to the OTCQX® Best Market from NASDAQ as of July 1, 2020. This shift enables Ottawa Bancorp to enhance operational efficiencies while providing investors with improved liquidity and visibility. The company's decision to deregister with the SEC, due to having fewer than 1,200 shareholders, is expected to result in significant cost savings related to regulatory compliance. Ottawa Bancorp aims to adhere to high financial standards and corporate governance practices in its new trading environment.
Ottawa Bancorp, Inc. (Nasdaq: OTTW) announced its intent to voluntarily delist from the NASDAQ Capital Market and deregister its common stock with the SEC, with the last trading day expected on June 30, 2020. This decision is driven by cost savings from avoiding SEC reporting requirements. The company will file Form 25 to remove its stock listing and Form 15 to terminate its registration. Following delisting, Ottawa Bancorp plans to be quoted on the OTCQX Market, continuing to publish financial information through press releases and on its website.
OTTAWA, Ill., May 20, 2020 – Ottawa Bancorp, Inc. (NasdaqCM: OTTW) has announced a quarterly cash dividend of $0.08 per share. This dividend is set to be payable on or about June 17, 2020, to shareholders on record by the close of business on June 3, 2020. The company is the holding entity for Ottawa Savings Bank, FSB, which provides a range of financial services including various deposit accounts and loans for individuals and corporations.
Ottawa Bancorp, Inc. reported a net income of $0.1 million for Q1 2020, down from $0.4 million in Q1 2019, equating to $0.029 per share. The loan portfolio grew to $250.3 million, despite a slight rise in non-performing loans. A provision for loan losses of $450,000 was recorded, reflecting COVID-19's impact. Total assets increased to $307.1 million, and total deposits rose by $6.1 million. The stock repurchase program has bought back 387,918 shares at an average of $13.92 per share. Ottawa Bancorp aims to support clients amid the pandemic.
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