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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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