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PKKW is a dynamic company at the forefront of innovation in its industry. Specializing in [Core Business], PKKW has consistently demonstrated its capability to lead and adapt in a rapidly changing market. The company's primary operations involve [Primary Operations], which have been instrumental in its steady growth and market presence.
Recently, PKKW has made significant strides with its latest projects, such as [Current Projects], which aim to [Project Goals]. These initiatives have not only expanded their market reach but also reinforced their commitment to quality and customer satisfaction.
Financially, PKKW has maintained a solid performance, marked by [Key Financial Achievements]. Strategic partnerships with [Partner Companies] have also been pivotal, allowing PKKW to leverage new technologies and tap into emerging markets.
PKKW's product lineup includes [Products], which are renowned for their [Key Features or Advantages]. The company's continuous investment in research and development ensures that it stays ahead of industry trends and meets the evolving needs of its customers.
For investors and stakeholders, PKKW's performance and developments are consistently communicated through various channels, including their latest news updates. Staying informed about PKKW's progress is crucial for making well-informed decisions regarding investments and understanding the company's long-term potential.
Skyline Bankshares, Inc. (OTC QX: PKKW) announces a semi-annual cash dividend of $0.21 per share, payable on March 20, 2023, to shareholders of record on March 10, 2023. The dividend, which increases by 23.53% from the previous $0.17 per share, reflects the company's strong performance following a record net income of $10.3 million for 2022. This increase results in an annualized dividend yield of 3.54% and a payout ratio of 22.95%. President and CEO Blake Edwards expressed appreciation for shareholder support, highlighting the bank's continued success in southwestern Virginia and northwestern North Carolina.
Skyline Bankshares, Inc. (OTC QX: PKKW) reported Q4 2022 net income of $2.9 million ($0.51/share), up from $2.6 million ($0.45/share) in Q4 2021. The full-year 2022 net income reached $10.3 million ($1.84/share), compared to $9.5 million ($1.59/share) in 2021. The net interest margin expanded to 3.93% in Q4 2022, benefitting from Federal Reserve rate increases. Core loans grew by $97.1 million (14.84%), offsetting losses from PPP loans. However, competition for deposits has increased interest expenses, with total deposits decreasing slightly in Q4 but growing year-over-year. Stockholders' equity rose to $72.9 million at year-end, despite a decrease from the previous year.
Parkway Acquisition Corp. (PKKW) reported a net income of $2.8 million ($0.50/share) for Q3 2022, up from $2.7 million ($0.45/share) in Q3 2021. For the first nine months, net income rose to $7.4 million ($1.32/share), compared to $6.8 million ($1.14/share) last year. The net interest margin improved to 3.70% from 3.54% in Q2 2022. Total assets increased by $27.9 million (2.80%) to reach $1.02 billion. However, competition for deposits is rising, impacting potential loan activity and rates.
Parkway Acquisition Corp. (PKKW) reported net income of $2.2 million, or $0.40 per share, for Q2 2022, slightly down from $2.3 million a year prior. Year-to-date earnings increased to $4.6 million, up from $4.1 million. Core loans rose by $81.7 million (13.0%), while SBA-PPP loans dropped by $56.2 million. Total assets grew by 4.26% to $1.04 billion, and the annualized return on average assets decreased to 0.88%. Strong deposit growth of 25% was recorded for lower-cost core deposits. Parkway's stock repurchase program contributed to a 20.29% rise in earnings per share.
Parkway Acquisition Corp. (OTC QX: PKKW) announced a cash dividend of $0.15 per share on February 15, 2022. The dividend is payable on March 21, 2022 to shareholders recorded by March 11, 2022. Parkway's subsidiary, Skyline National Bank, operates 25 branches and 1 loan production office across southwestern Virginia and northwestern North Carolina.
Parkway Acquisition Corp. (PKKW) reported fourth quarter 2021 net income of $2.6 million ($0.45/share), up from $1.7 million ($0.28/share) in Q4 2020. For the year, net income reached $9.5 million ($1.59/share), a significant increase from $5.9 million ($0.97/share) in 2020. Notable metrics include a 16.42% rise in total assets to $995.8 million and a 18.89% increase in total deposits, attributed to strong growth strategies, particularly in North Carolina. However, a declining net interest margin is anticipated as the SBA-PPP program concludes.
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