RBAZ Bancorp, Inc. Announces Unaudited Financial Results For the Quarter Ending March 31, 2025
RBAZ Bancorp reported strong financial results for Q1 2025, with consolidated net income reaching $1,064,000 ($0.59 per share), marking a 49% increase from $713,000 ($0.40 per share) in Q1 2024. The bank maintained a robust net interest margin of 4.61%, showing a 15% improvement while expenses decreased by 1%.
Key metrics include total loans of $223,962,000 (up 0.6% from Q4 2024), total deposits of $240,864,000 (down 3.7%), and total interest income of $4,485,000 (up 6.6% year-over-year). The cost of deposits remained stable at 2.13%.
Notably, RBAZ announced its upcoming merger with Pima Federal Credit Union, scheduled for May 2, 2025, after which RBAZ's common stock will cease trading on the OTC Pink Market. The bank maintains its 'Well Capitalized' status with a CBLR ratio of 11.62%.
RBAZ Bancorp ha riportato solidi risultati finanziari per il primo trimestre del 2025, con un utile netto consolidato pari a 1.064.000 $ (0,59 $ per azione), segnando un incremento del 49% rispetto ai 713.000 $ (0,40 $ per azione) del primo trimestre 2024. La banca ha mantenuto un robusto margine di interesse netto del 4,61%, con un miglioramento del 15%, mentre le spese sono diminuite dell'1%.
I principali indicatori includono prestiti totali per 223.962.000 $ (in aumento dello 0,6% rispetto al quarto trimestre 2024), depositi totali per 240.864.000 $ (in calo del 3,7%) e un reddito totale da interessi di 4.485.000 $ (in crescita del 6,6% su base annua). Il costo dei depositi è rimasto stabile al 2,13%.
Da segnalare, RBAZ ha annunciato la prossima fusione con Pima Federal Credit Union, prevista per il 2 maggio 2025, dopo la quale le azioni ordinarie di RBAZ cesseranno di essere quotate sul mercato OTC Pink. La banca mantiene lo status di 'Ben Capitalizzata' con un indice CBLR dell'11,62%.
RBAZ Bancorp reportó sólidos resultados financieros para el primer trimestre de 2025, con un ingreso neto consolidado de $1,064,000 ($0.59 por acción), lo que representa un incremento del 49% respecto a $713,000 ($0.40 por acción) en el primer trimestre de 2024. El banco mantuvo un sólido margen neto de interés del 4.61%, mostrando una mejora del 15%, mientras que los gastos disminuyeron un 1%.
Las métricas clave incluyen préstamos totales por $223,962,000 (un aumento del 0.6% respecto al cuarto trimestre de 2024), depósitos totales por $240,864,000 (una disminución del 3.7%) e ingresos totales por intereses de $4,485,000 (un aumento del 6.6% interanual). El costo de los depósitos se mantuvo estable en 2.13%.
Es importante destacar que RBAZ anunció su próxima fusión con Pima Federal Credit Union, programada para el 2 de mayo de 2025, tras la cual las acciones comunes de RBAZ dejarán de cotizar en el mercado OTC Pink. El banco mantiene su estatus de 'Bien Capitalizado' con una ratio CBLR del 11.62%.
RBAZ Bancorp는 2025년 1분기에 강력한 재무 실적을 보고했으며, 연결 순이익은 1,064,000달러(주당 0.59달러)로 2024년 1분기 713,000달러(주당 0.40달러) 대비 49% 증가했습니다. 은행은 4.61%의 견고한 순이자마진을 유지했으며, 15% 개선을 보였고 비용은 1% 감소했습니다.
주요 지표로는 총 대출금 223,962,000달러(2024년 4분기 대비 0.6% 증가), 총 예금 240,864,000달러(3.7% 감소), 총 이자 수익 4,485,000달러(전년 대비 6.6% 증가)가 있습니다. 예금 비용은 2.13%로 안정적이었습니다.
특히 RBAZ는 2025년 5월 2일 예정된 Pima Federal Credit Union과의 합병을 발표했으며, 이후 RBAZ 보통주는 OTC Pink 시장에서 거래가 중단됩니다. 은행은 11.62%의 CBLR 비율로 '자본 적정' 상태를 유지하고 있습니다.
RBAZ Bancorp a annoncé de solides résultats financiers pour le premier trimestre 2025, avec un bénéfice net consolidé atteignant 1 064 000 $ (0,59 $ par action), soit une augmentation de 49 % par rapport à 713 000 $ (0,40 $ par action) au premier trimestre 2024. La banque a maintenu une marge nette d'intérêt robuste de 4,61 %, affichant une amélioration de 15 %, tandis que les dépenses ont diminué de 1 %.
Les indicateurs clés comprennent des prêts totaux de 223 962 000 $ (en hausse de 0,6 % par rapport au quatrième trimestre 2024), des dépôts totaux de 240 864 000 $ (en baisse de 3,7 %) et un revenu total d'intérêts de 4 485 000 $ (en hausse de 6,6 % sur un an). Le coût des dépôts est resté stable à 2,13 %.
Notamment, RBAZ a annoncé sa prochaine fusion avec Pima Federal Credit Union, prévue pour le 2 mai 2025, après quoi les actions ordinaires de RBAZ cesseront d’être cotées sur le marché OTC Pink. La banque conserve son statut de « bien capitalisée » avec un ratio CBLR de 11,62 %.
RBAZ Bancorp meldete starke Finanzergebnisse für das erste Quartal 2025 mit einem konsolidierten Nettogewinn von 1.064.000 $ (0,59 $ je Aktie), was einer Steigerung von 49% gegenüber 713.000 $ (0,40 $ je Aktie) im ersten Quartal 2024 entspricht. Die Bank hielt eine solide Nettozinsmarge von 4,61%, was einer Verbesserung von 15% entspricht, während die Ausgaben um 1% sanken.
Wichtige Kennzahlen umfassen Gesamtkredite von 223.962.000 $ (ein Anstieg von 0,6% gegenüber dem vierten Quartal 2024), Gesamteinlagen von 240.864.000 $ (ein Rückgang von 3,7%) und Gesamterträge aus Zinsen von 4.485.000 $ (ein Anstieg von 6,6% im Jahresvergleich). Die Kosten der Einlagen blieben stabil bei 2,13%.
Bemerkenswert ist, dass RBAZ die bevorstehende Fusion mit der Pima Federal Credit Union ankündigte, die für den 2. Mai 2025 geplant ist. Danach wird der Stammaktienhandel von RBAZ am OTC Pink Market eingestellt. Die Bank behält ihren Status als 'Gut kapitalisiert' mit einer CBLR-Quote von 11,62% bei.
- 49% increase in quarterly earnings year-over-year
- 15% improvement in net interest margin to 4.61%
- 6.6% increase in total interest income to $4,485,000
- 1% decrease in expenses
- Strong capital position with CBLR ratio at 11.62%
- 3.7% decrease in total deposits to $240,864,000
- Minimal loan growth of 0.6% quarter-over-quarter
- Increased borrowings of $15,965,000 to offset deposit outflows
PHOENIX, April 18, 2025 (GLOBE NEWSWIRE) -- RBAZ Bancorp, Inc. (OTCIQ: RBAZ) (the “Company”), parent company of Republic Bank of Arizona (the “Bank” or “RBAZ”), announced a consolidated net income of
President and CEO Brian Ruisinger stated “I am proud to report strong earnings in our final reporting quarter as RBAZ reflecting a
Mr. Ruisinger continued, “As an update to our May 16, 2024 announcement of our intent to join forces with Pima Federal Credit Union, the Company’s shareholders approved the transaction on August 22, 2024 and regulatory applications were approved during Q1. We have announced a closing date of May 2, 2025, at which time the Company intends for its common stock to no longer trade or be quoted on the OTC Pink Market. As we approach the end of our 18-year history as RBAZ, we are extremely proud of ending as the top performing bank headquartered in the state. We look forward to continuing to serve our valued customers with expanded products and resources as Pima Federal Credit Union.”
March 31, 2025 Company Highlights Include:
- Total loans of
$223,962,000 increased$1,231,000 , or0.6% , from December 31, 2024. This increase consisted of$8,245,000 in new loan originations and advances on construction lines of credit, offset by$6,625,000 in loan maturities. Advances and repayments on commercial lines of credit and normal payment attrition comprised the balance of the loan activity in Q1. - Total deposits of
$240,864,000 decreased$9,337,000 , or3.7% , from December 31, 2024. This decrease consisted of known outflows from existing customers for capital expenditures and other business purposes, partially offset by funds from new banking relationships during the quarter totaling$8,956,000. - Total borrowings of
$15,965,000 at March 31, 2025 included$10,000,000 in short-term advances from the Federal Home Loan Bank to offset known deposit outflows during the quarter. - Total interest income increased
$277,000 t o$4,485,000 for the quarter ended March 31, 2025 outpacing total interest income of$4,208,000 for the same period of the prior year equating to an increase of6.6% . - Cost of deposits was
2.13% for the quarter ended March 31, 2025, which was consistent with the prior quarter as the Bank made nominal changes to its deposit rates during the period in line with the Federal Reserve’s decision to hold rates steady during the first quarter of 2025.
The Bank remains “Well Capitalized” under the Community Bank Leverage Ratio (CBLR) framework as follows:
| March 31, 2025 (%) | Ratio to be Well Capitalized (%) | ||
| CBLR ratio | 11.62 | 9.00 | |
About the Company
RBAZ Bancorp, Inc. was established on June 10, 2021 as a single-bank holding company for its Arizona state-chartered bank subsidiary, Republic Bank of Arizona. The Company is traded over-the-counter as RBAZ.
About the Bank
Republic Bank of Arizona is a locally owned, community bank in Phoenix, Scottsdale and Gilbert, Arizona. RBAZ is a full service, community bank providing deposit and loan products and convenient, online and mobile banking to individuals, businesses and professionals. The Bank was established in April 2007 and is headquartered at 645 E. Missouri Avenue, Suite 108, Phoenix, AZ. Additional branches are located at 7373 N. Scottsdale Road, Suite A-195, Scottsdale, AZ and 1417 W. Elliot Road, Gilbert, AZ. The Bank is the wholly-owned subsidiary of RBAZ Bancorp, Inc. For further information, please visit our web site: www.republicbankaz.com.
Forward-Looking Statements
This press release may include forward-looking statements about the Company and the Bank (collectively referred to herein as the “Company”), for which the Company claims the protection of safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on management’s knowledge and belief as of today and include information concerning the Company’s possible or assumed future financial condition and its results of operations and business. Forward-looking statements are subject to risks and uncertainties. Several important factors could cause actual results to differ materially from those in the forward-looking statements. Those factors include, but are not limited to, fluctuations in interest rates, government policies and regulations (including monetary and fiscal policies), legislation, economic conditions, borrower capacity to repay, operational factors and competition in the geographic and business areas in which the Company conducts its operations. All forward-looking statements included in this press release are based on information available at the time of the release, and the Company assumes no obligation to update any forward-looking statement.
| Summary Company Financial Information (unaudited) | ||||
| For the three months ended March 31, | For the twelve months ended December 31, | |||
| 2025 | 2024 | 2024 | 2023 | |
| (dollars in thousands, except per share data) | ||||
| Summary Income Data: | ||||
| Interest income | ||||
| Interest expense | 1,404 | 1,557 | 5,923 | 4,742 |
| Net interest income | 3,081 | 2,651 | 12,012 | 9,466 |
| Provision for credit losses | - | - | 627 | - |
| Non-interest income | 230 | 220 | 967 | 820 |
| Non-interest expense | 1,921 | 1,943 | 7,907 | 7,142 |
| Income before provision for income tax | 1,390 | 928 | 4,445 | 3,144 |
| Provision for income tax | 326 | 215 | 1,066 | 684 |
| Net income | ||||
| Per Share Data: | ||||
| Shares outstanding end-of-period | 1,790 | 1,778 | 1,790 | 1,795 |
| Earnings per common share | ||||
| Diluted earnings per common share | ||||
| Book value per share | ||||
| Selected Balance Sheet Data: | ||||
| Total assets | ||||
| Securities available-for-sale, at fair value | 30,848 | 40,079 | 32,731 | 40,998 |
| Securities held-to-maturity | 9,860 | 10,650 | 9,855 | 10,648 |
| Loans | 223,962 | 199,714 | 222,731 | 201,829 |
| Allowance for credit losses | 2,437 | 2,116 | 2,428 | 2,116 |
| Deposits | 240,864 | 249,661 | 250,201 | 228,172 |
| Other borrowings | 15,965 | 5,936 | 5,958 | 20,929 |
| Shareholders’ equity | 26,085 | 21,541 | 24,723 | 21,128 |
| Performance Ratios: | ||||
| Return on average shareholders’ equity (annualized) (%) | 16.32 | 13.24 | 13.67 | 11.64 |
| Net interest margin (%) | 4.61 | 4.01 | 4.32 | 3.68 |
| Average assets | ||||
| Return on average assets (annualized) (%) | 1.50 | 1.02 | 1.17 | 0.93 |
| Shareholders’ equity to assets (%) | 9.18 | 7.72 | 8.75 | 7.77 |
| Efficiency ratio (%) | 58.02 | 67.68 | 60.92 | 69.43 |
| Asset Quality Data: | ||||
| Nonaccrual loans | ||||
| Loan modifications to borrowers experiencing financial difficulty | $- | $- | $- | $- |
| Other real estate owned | $- | $- | $- | $- |
| Nonperforming loans | ||||
| Nonperforming loans to total assets (%) | 0.09 | 0.07 | 0.15 | 0.08 |
| Nonperforming loans to total loans (%) | 0.11 | 0.10 | 0.19 | 0.10 |
| Allowance for credit losses to total loans (%) | 1.09 | 1.06 | 1.09 | 1.05 |
| Allowance for credit losses to nonperforming loans (%) | 990.65 | 1,113.68 | 580.86 | 1,012.44 |
| Net charge-offs (recoveries) for period | ( | $- | ( | |
| Average loans | ||||
| Ratio of net charge-offs (recoveries) to average loans (%) | (0.00) | n/a | 0.09 | (0.20) |
Contact: Brian Ruisinger
President and Chief Executive Officer
Phone: 602.280.9404
Email: bruisinger@republicaz.com
FAQ
What is RBAZ's earnings growth in Q1 2025 compared to Q1 2024?
When will RBAZ merge with Pima Federal Credit Union?
What is RBAZ's current loan portfolio and deposit status?
How does RBAZ's capital position compare to regulatory requirements?
What was RBAZ's net interest margin and cost of deposits in Q1 2025?
