Skyline Bankshares Inc - SLBK STOCK NEWS

Skyline Bankshares (OTC QX: SLBK) has announced a semi-annual cash dividend of $0.25 per share on its common stock. The dividend will be paid on March 24, 2025, to shareholders of record as of March 14, 2025, following the Board of Directors' declaration on February 18, 2025.

The company operates through its wholly-owned subsidiary, Skyline National Bank, which maintains a presence across southwestern Virginia, northwestern North Carolina, and eastern Tennessee with 28 branches and 2 loan production offices.

Skyline Bankshares (SLBK) reported Q4 2024 net income of $2.5 million ($0.45 per share), up from $1.1 million in Q3 2024 and $2.2 million in Q4 2023. The company completed its acquisition of Johnson County Bank on September 1, 2024, adding $154.1 million in assets and $125.3 million in deposits.

Key Q4 2024 metrics include: net interest margin of 4.10% (up from 3.78% in Q3), total assets of $1.22 billion (16.42% YoY increase), and net loans of $976.4 million (20.40% YoY increase). Core loan growth was $31.4 million in Q4, representing an annualized rate of 13.13%. The company incurred $923,000 in merger-related expenses during the quarter.

For full-year 2024, net income was $7.4 million ($1.34 per share), compared to $9.7 million ($1.74 per share) in 2023. Asset quality remained strong with nonperforming loans at 0.26% of total loans.

Skyline Bankshares (OTC QX: SLBK) reported Q3 2024 net income of $1.1 million ($0.19 per share), compared to $2.1 million ($0.37 per share) in Q3 2023. The company completed its acquisition of Johnson County Bank on September 1, 2024, adding $154.1 million in assets and $125.3 million in deposits. Excluding merger-related expenses of $1.1 million, Q3 2024 net income would have been $2.0 million ($0.36 per share). Total assets increased 15.36% to $1.21 billion, while net loans grew 16.57% to $945.3 million. The net interest margin improved to 3.78% in Q3 2024 from 3.72% in Q2 2024.

Skyline Bankshares, Inc. (OTCQX: SLBK), parent company of Skyline National Bank, has completed its merger with Johnson County Bank, effective September 1, 2024. The merger expands Skyline's presence into Mountain City, TN and surrounding areas. Johnson County Bank will initially operate as a division of Skyline National Bank until systems conversion and rebranding in November 2024.

Blake Edwards, President and CEO of Skyline Bankshares, emphasized the shared commitment to customers, community, and employees. Chris Reece, CEO of Johnson County Bank, expressed excitement about the partnership and its potential to strengthen their mission of serving customers in Johnson County and nearby areas.

Skyline Bankshares, Inc. (OTC QX: SLBK), the holding company for Skyline National Bank, has announced a semi-annual cash dividend of $0.23 per share on its common stock. The dividend is payable on September 23, 2024 to shareholders of record as of September 13, 2024. This decision was made by the Company's Board of Directors on August 20, 2024.

Skyline National Bank, a wholly-owned subsidiary of Skyline Bankshares, operates 27 branches and 2 loan production offices serving southwestern Virginia and northwestern North Carolina. This dividend announcement demonstrates the company's commitment to providing returns to its shareholders.

Skyline Bankshares, Inc. (OTC QX: SLBK) reported net income of $1.8 million, or $0.33 per share, for Q2 2024, compared to $2.8 million, or $0.49 per share, in Q2 2023. The company's total assets increased by 1.78% to $1.06 billion, while net loans grew by 1.95% to $826.7 million. Total deposits rose by 2.09% to $948.1 million. The company's net interest margin improved to 3.72% in Q2 2024, up from 3.64% in Q1 2024. Skyline incurred $357,000 in merger-related expenses for the pending acquisition of Johnson County Bank, expected to close in H2 2024.

Skyline Bankshares, Inc. announced its first quarter 2024 results with a net income of $2.1 million, or $0.37 per share, compared to $2.7 million, or $0.49 per share, in 2023. The company noted challenges from higher deposit costs and inflation impacting operating costs. Despite this, the solid loan growth and prudent capital management led to increased dividends and stock repurchases. The company also announced the pending acquisition of Johnson County Bank in Tennessee. Financially, the company saw total assets increase by $4.2 million in Q1 2024, net loans increase to $819.9 million, and total deposits rise to $930.4 million.

Skyline Bankshares, Inc. acquires Johnson County Bank in a $25.0 million all-cash transaction, creating a combined organization with 28 banking locations, assets of nearly $1.2 billion, deposits over $1.0 billion, and shareholders' equity of approximately $89.1 million. The partnership aims to enhance service to local communities in Tennessee and maintain an exceptional customer experience.

Skyline Bankshares, Inc. (SLBK) declares a semi-annual cash dividend of $0.23 per share, a 9.52% increase from the previous dividend. The dividend will be paid on March 18, 2024, to shareholders of record on March 8, 2024. Skyline National Bank, the Company's subsidiary, operates in Virginia and North Carolina with 27 branches and 2 loan production offices.