Skyline Bankshares, Inc. Announces Fourth Quarter 2024 Results
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 (SLBK) ha registrato un reddito netto nel Q4 2024 di $2,5 milioni ($0,45 per azione), in aumento rispetto a $1,1 milioni nel Q3 2024 e $2,2 milioni nel Q4 2023. L'azienda ha completato l'acquisizione di Johnson County Bank il 1° settembre 2024, aggiungendo $154,1 milioni in attivi e $125,3 milioni in depositi.
I principali indicatori del Q4 2024 includono: margine di interesse netto del 4,10% (in aumento rispetto al 3,78% nel Q3), attivi totali di $1,22 miliardi (aumento del 16,42% rispetto all'anno precedente) e prestiti netti di $976,4 milioni (aumento del 20,40% rispetto all'anno precedente). La crescita dei prestiti core è stata di $31,4 milioni nel Q4, rappresentando un tasso annualizzato del 13,13%. L'azienda ha affrontato spese per fusioni di $923.000 durante il trimestre.
Per l'intero anno 2024, il reddito netto è stato di $7,4 milioni ($1,34 per azione), rispetto a $9,7 milioni ($1,74 per azione) nel 2023. La qualità degli attivi è rimasta forte con prestiti non performing allo 0,26% del totale dei prestiti.
Skyline Bankshares (SLBK) reportó un ingreso neto de $2,5 millones ($0,45 por acción) en el Q4 2024, un aumento respecto a $1,1 millones en el Q3 2024 y $2,2 millones en el Q4 2023. La empresa completó su adquisición de Johnson County Bank el 1 de septiembre de 2024, añadiendo $154,1 millones en activos y $125,3 millones en depósitos.
Los indicadores clave del Q4 2024 incluyen: un margen de interés neto del 4,10% (en aumento desde el 3,78% en el Q3), activos totales de $1,22 mil millones (un aumento del 16,42% interanual) y préstamos netos de $976,4 millones (un aumento del 20,40% interanual). El crecimiento de los préstamos básicos fue de $31,4 millones en el Q4, representando una tasa anualizada del 13,13%. La empresa incurrió en gastos relacionados con fusiones de $923,000 durante el trimestre.
Para el año completo 2024, el ingreso neto fue de $7,4 millones ($1,34 por acción), en comparación con $9,7 millones ($1,74 por acción) en 2023. La calidad de los activos se mantuvo fuerte con préstamos en problemas en el 0,26% del total de préstamos.
Skyline Bankshares (SLBK)는 2024년 4분기에 순이익 $250만(주당 $0.45)을 보였으며, 2024년 3분기 $110만 및 2023년 4분기 $220만에서 증가했습니다. 이 회사는 2024년 9월 1일 존슨 카운티 은행의 인수를 완료했으며, 자산은 $1억5410만, 예금은 $1억2530만 증가했습니다.
2024년 4분기의 주요 지표는 다음과 같습니다: 순이자 마진 4.10%(3분기 3.78%에서 증가), 총 자산 $12억2000만(전년 대비 16.42% 증가), 순대출 $9억7640만(전년 대비 20.40% 증가). 핵심 대출 성장률은 4분기 동안 $3140만으로, 연환산율은 13.13%에 해당합니다. 회사는 분기 동안 합병 관련 비용으로 $923,000을 지출했습니다.
2024년 전체 연도에 대해, 순이익은 $740만(주당 $1.34)으로, 2023년에 비해 $970만(주당 $1.74) 감소했습니다. 자산의 질은 여전히 강력하며, 부실 대출 비율은 총 대출의 0.26%입니다.
Skyline Bankshares (SLBK) a annoncé un bénéfice net de 2,5 millions de dollars (0,45 $ par action) pour le 4e trimestre 2024, en hausse par rapport à 1,1 million de dollars au 3e trimestre 2024 et 2,2 millions de dollars au 4e trimestre 2023. L'entreprise a finalisé l'acquisition de la Johnson County Bank le 1er septembre 2024, ajoutant 154,1 millions de dollars d'actifs et 125,3 millions de dollars de dépôts.
Les principaux indicateurs du 4e trimestre 2024 incluent : une marge d'intérêt nette de 4,10 % (en hausse par rapport à 3,78 % au 3e trimestre), des actifs totaux de 1,22 milliard de dollars (augmentation de 16,42 % en glissement annuel) et des prêts nets de 976,4 millions de dollars (augmentation de 20,40 % en glissement annuel). La croissance des prêts de base a été de 31,4 millions de dollars au 4e trimestre, représentant un taux annualisé de 13,13 %. L'entreprise a engagé des dépenses de 923 000 dollars liées à la fusion au cours du trimestre.
Pour l'année complète 2024, le bénéfice net s'élevait à 7,4 millions de dollars (1,34 $ par action), contre 9,7 millions de dollars (1,74 $ par action) en 2023. La qualité des actifs est restée solide avec des prêts non performants à 0,26 % du total des prêts.
Skyline Bankshares (SLBK) meldete für das 4. Quartal 2024 einen Nettogewinn von 2,5 Millionen USD (0,45 USD pro Aktie), ein Anstieg von 1,1 Millionen USD im 3. Quartal 2024 und 2,2 Millionen USD im 4. Quartal 2023. Das Unternehmen schloss am 1. September 2024 die Übernahme der Johnson County Bank ab und fügte 154,1 Millionen USD an Vermögenswerten sowie 125,3 Millionen USD an Einlagen hinzu.
Wichtige Kennzahlen für das 4. Quartal 2024 sind: Nettomargen in Höhe von 4,10% (ein Anstieg von 3,78% im 3. Quartal), Gesamtkapital in Höhe von 1,22 Milliarden USD (16,42% im Jahresvergleich) und Nettokredite von 976,4 Millionen USD (20,40% im Jahresvergleich). Das Wachstum der Kernkredite betrug im 4. Quartal 31,4 Millionen USD, was einem annualisierten Satz von 13,13% entspricht. Das Unternehmen wies im Quartal fusionsbezogene Kosten von 923.000 USD aus.
Für das gesamte Jahr 2024 betrug der Nettogewinn 7,4 Millionen USD (1,34 USD pro Aktie), verglichen mit 9,7 Millionen USD (1,74 USD pro Aktie) im Jahr 2023. Die Vermögensqualität blieb stark, mit nicht leistungsfähigen Krediten bei 0,26% der Gesamtkredite.
- Q4 net income increased to $2.5M from $1.1M in Q3 2024
- Net interest margin improved to 4.10% from 3.78% in Q3
- Core loan growth of $31.4M in Q4 (13.13% annualized rate)
- Strong asset quality with nonperforming loans at 0.26%
- Successful acquisition of Johnson County Bank adding $154.1M in assets
- Full-year 2024 net income decreased to $7.4M from $9.7M in 2023
- Merger-related expenses of $923K impacted Q4 earnings
- Increased interest expense on deposits due to competitive pressures
- Noninterest expenses increased by $5.7M year-over-year
FLOYD, Va. and INDEPENDENCE, Va., Feb. 06, 2025 (GLOBE NEWSWIRE) -- Skyline Bankshares, Inc. (the “Company”) (OTC QX: SLBK) – the holding company for Skyline National Bank (the “Bank”) – announced its results of operations for the fourth quarter of 2024.
As previously announced, the Company acquired Johnson County Bank (“JCB”) on September 1, 2024, with the Company as the surviving corporation. For accounting purposes, the Company is considered the acquiror and JCB is considered the acquiree in the transaction. As such, all information contained herein as of and for periods prior to September 1, 2024 reflects the operations of the Company prior to the merger.
The Company recorded net income of
President and CEO Blake Edwards stated, “The fourth quarter of 2024 was marked by many notable accomplishments. Earnings were strong, especially when adjusted for direct merger-related costs, with an adjusted annualized ROAA of
Edwards continued, “We continued the integration of Johnson County Bank during the fourth quarter of 2024 with the core data systems conversion completed in November. Our experienced team worked tirelessly to make this transition as seamless as possible for the Johnson County employees and customers alike. This is an exciting chapter in the history of our bank, and we are excited to bring our commitment to excellence and dedication to the businesses and people of Johnson County, Tennessee. We look forward to creating a positive impact in Tennessee while continuing to offer an unmatched customer experience in our existing markets. I believe we remain well positioned for growth and success in the future and know that our employees will continue to deliver on our brand promise of being “Always our Best” for our customers each and every day.”
Highlights
- In connection with the acquisition of JCB, effective September 1, 2024, the Company acquired
$154.1 million in assets at fair value, including$87.2 million in loans. The Company also assumed$133.8 million of liabilities at fair value, including$125.3 million of total deposits with a core deposit intangible asset recorded of$3.4 million , and goodwill of$4.6 million . - Net income was
$2.5 million , or$0.45 per share, in the fourth quarter of 2024, compared to$2.2 million , or$0.39 per share, in the fourth quarter of 2023. - Net interest margin (“NIM”) was
4.10% for the fourth quarter of 2024, compared to3.78% in the third quarter of 2024, and3.69% in the fourth quarter of 2023. - Total assets increased
$171.8 million , or16.42% , to$1.22 billion at December 31, 2024 from$1.05 billion at December 31, 2023. - Net loans were
$976.4 million at December 31, 2024, an increase of$165.5 million , or20.40% , when compared to$811.0 million at December 31, 2023. Excluding the$87.2 million in loans acquired as part of the JCB merger, gross loans increased by$79.6 million , or9.73% , for the year 2024. - Total deposits were
$1.09 billion at December 31, 2024, an increase of$163.5 million , or17.60% , from$928.7 million at December 31, 2023. Excluding the$125.3 million of total deposits acquired as part of the JCB merger, total deposits increased by$38.2 million , or4.11% , during the year 2024. - During the quarter, the Company incurred
$923 thousand in merger-related expenses related to the acquisition of JCB. Excluding these merger-related expenses, net income would have been$3.2 million , or$0.58 per share, for the fourth quarter of 2024.
Fourth Quarter and Year Ended December 31, 2024 Income Statement Review
Net interest income after provision for credit losses in the fourth quarter of 2024 was
For the year ended December 31, 2024, net interest income after provision for (recovery of) credit losses was
Fourth quarter 2024 noninterest income was
For the year ended December 31, 2024 and 2023, noninterest income was
Noninterest expense in the fourth quarter of 2024 was
For the year ended December 31, 2024, total noninterest expenses increased by
Net income before taxes increased by
Balance Sheet Review
Total assets increased in the fourth quarter of 2024 by
Asset quality has remained strong, with a ratio of nonperforming loans to total loans of
Investment securities decreased by
Total deposits increased in the fourth quarter of 2024 by
Total stockholders’ equity increased by
Forward-looking statements
This release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934 as amended. These include statements as to expectations regarding future financial performance and any other statements regarding future results or expectations. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and are including this statement for purposes of these safe harbor provisions. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies, and expectations of the Company, are generally identified by the use of words such as "believe," "expect," "intend," "anticipate," "estimate," or "project" or similar expressions. Our ability to predict results, or the actual effect of future plans or strategies, is inherently uncertain. Factors which could have a material adverse effect on the operations and future prospects of the Company and its subsidiaries include, but are not limited to: changes in interest rates; general economic and financial market conditions; the effect of changes in banking, tax and other laws and regulations and interpretations or guidance thereunder; monetary and fiscal policies of the U.S. government, including policies of the U.S. Treasury and the Federal Reserve Board; the quality and composition of the loan and securities portfolios; demand for loan products; deposit flows; competition; demand for financial services in the Company’s market area; the implementation of new technologies; the ability to develop and maintain secure and reliable electronic systems; accounting principles, policies, and guidelines; disruptions to customer and employee relationships and business operations caused by the Johnson County Bank acquisition; the ability to implement integration plans associated with the acquisition, which integration may be more difficult, time-consuming or costly than expected; the ability to achieve the cost savings and synergies contemplated by the acquisition within the expected timeframe, or at all; and other factors identified in Item 1A, “Risk Factors,” in the Company’s Annual Report on 10-K for the year ended December 31, 2023 and the Company’s most recently filed Quarterly Report on Form 10-Q. These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. We undertake no obligation to update or clarify these forward‐looking statements, whether as a result of new information, future events or otherwise.
(See Attached Financial Statements for quarter ending December 31, 2024)
Skyline Bankshares, Inc.
Condensed Consolidated Balance Sheets
December 31, 2024; September 30, 2024; December 31, 2023
| December 31, | September 30, | December 31, | |||||||||
| (dollars in thousands except share amounts) | 2024 | 2024 | 2023 | ||||||||
| (Unaudited) | (Unaudited) | (Audited) | |||||||||
| Assets | |||||||||||
| Cash and due from banks | $ | 17,889 | $ | 27,862 | $ | 16,811 | |||||
| Interest-bearing deposits with banks | 1,562 | 6,766 | 4,808 | ||||||||
| Federal funds sold | - | 536 | 474 | ||||||||
| Investment securities available for sale | 118,287 | 123,906 | 127,389 | ||||||||
| Restricted equity securities | 4,034 | 4,235 | 3,338 | ||||||||
| Loans | 984,459 | 953,122 | 817,704 | ||||||||
| Allowance for credit losses | (8,027 | ) | (7,787 | ) | (6,739 | ) | |||||
| Net loans | 976,432 | 945,335 | 810,965 | ||||||||
| Cash value of life insurance | 26,743 | 26,558 | 22,909 | ||||||||
| Other real estate owned | 140 | 140 | - | ||||||||
| Properties and equipment, net | 34,663 | 33,741 | 31,183 | ||||||||
| Accrued interest receivable | 4,013 | 3,810 | 3,463 | ||||||||
| Core deposit intangible | 3,815 | 4,031 | 917 | ||||||||
| Goodwill | 7,900 | 7,900 | 3,257 | ||||||||
| Deferred tax assets, net | 5,593 | 5,125 | 5,046 | ||||||||
| Other assets | 16,528 | 16,555 | 15,283 | ||||||||
| Total assets | $ | 1,217,599 | $ | 1,206,500 | $ | 1,045,843 | |||||
| Liabilities | |||||||||||
| Deposits | |||||||||||
| Noninterest-bearing | $ | 337,918 | $ | 340,340 | $ | 305,115 | |||||
| Interest-bearing | 754,285 | 745,567 | 623,627 | ||||||||
| Total deposits | 1,092,203 | 1,085,907 | 928,742 | ||||||||
| Borrowings | 29,254 | 25,000 | 27,500 | ||||||||
| Accrued interest payable | 950 | 979 | 531 | ||||||||
| Other liabilities | 6,524 | 5,991 | 6,188 | ||||||||
| Total liabilities | 1,128,931 | 1,117,877 | 962,961 | ||||||||
| Stockholders’ Equity | |||||||||||
| Common stock and surplus | 33,507 | 33,283 | 33,356 | ||||||||
| Retained earnings | 73,714 | 71,212 | 68,866 | ||||||||
| Accumulated other comprehensive loss | (18,553 | ) | (15,872 | ) | (19,340 | ) | |||||
| Total stockholders’ equity | 88,668 | 88,623 | 82,882 | ||||||||
| Total liabilities and stockholders’ equity | $ | 1,217,599 | $ | 1,206,500 | $ | 1,045,843 | |||||
| Book value per share | $ | 15.69 | $ | 15.72 | $ | 14.84 | |||||
| Tangible book value per share(1) | $ | 13.62 | $ | 13.60 | $ | 14.09 | |||||
| Asset Quality Indicators | |||||||||||
| Nonperforming assets to total assets | 0.22 | % | 0.15 | % | 0.17 | % | |||||
| Nonperforming loans to total loans | 0.26 | % | 0.18 | % | 0.21 | % | |||||
| Allowance for credit losses to total loans | 0.82 | % | 0.82 | % | 0.82 | % | |||||
| Allowance for credit losses to nonperforming loans | 313.19 | % | 453.00 | % | 389.31 | % | |||||
| (1) | Tangible book value is a Non-GAAP financial measure defined as stockholders’ equity less goodwill and other intangible assets, divided by shares outstanding, that the Company believes is a meaningful measure of capital adequacy because it provides a meaningful base for period-to-period and company-to-company comparisons, which the Company believes will assist investors in assessing the capital of the Company and its ability to absorb potential losses. See “Reconciliation of Non-GAAP Financial Measures” at the end of this release. |
Skyline Bankshares, Inc.
Condensed Consolidated Statement of Operations
| Three Months Ended | Year Ended | ||||||||||||||||||
| December 31, | September 30, | December 31, | December 31, | ||||||||||||||||
| (dollars in thousands except share amounts) | 2024 | 2024 | 2023 | 2024 | 2023 | ||||||||||||||
| (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Audited) | |||||||||||||||
| Interest income | |||||||||||||||||||
| Loans and fees on loans | $ | 14,541 | $ | 12,759 | $ | 10,843 | $ | 49,974 | $ | 39,877 | |||||||||
| Interest-bearing deposits in banks | 92 | 150 | 68 | 390 | 279 | ||||||||||||||
| Federal funds sold | 4 | 25 | 3 | 37 | 29 | ||||||||||||||
| Interest on securities | 692 | 737 | 743 | 2,871 | 3,024 | ||||||||||||||
| Dividends | 109 | 41 | 68 | 264 | 156 | ||||||||||||||
| 15,438 | 13,712 | 11,725 | 53,536 | 43,365 | |||||||||||||||
| Interest expense | |||||||||||||||||||
| Deposits | 3,601 | 3,407 | 2,360 | 12,650 | 6,617 | ||||||||||||||
| Interest on borrowings | 268 | 374 | 389 | 1,416 | 1,150 | ||||||||||||||
| 3,869 | 3,781 | 2,749 | 14,066 | 7,767 | |||||||||||||||
| Net interest income | 11,569 | 9,931 | 8,976 | 39,470 | 35,598 | ||||||||||||||
| Provision for (Recovery of) credit losses | 214 | 738 | 69 | 1,116 | (50 | ) | |||||||||||||
| Net interest income after provision for (recovery of) credit losses | 11,355 | 9,193 | 8,907 | 38,354 | 35,648 | ||||||||||||||
| Noninterest income | |||||||||||||||||||
| Service charges on deposit accounts | 624 | 598 | 580 | 2,317 | 2,186 | ||||||||||||||
| Other service charges and fees | 1,146 | 940 | 927 | 3,844 | 3,473 | ||||||||||||||
| Net realized losses on securities | - | - | - | (141 | ) | (16 | ) | ||||||||||||
| Mortgage origination fees | 68 | 108 | 66 | 277 | 255 | ||||||||||||||
| Increase in cash value of life insurance | 185 | 161 | 138 | 643 | 576 | ||||||||||||||
| Life insurance income | - | - | - | 221 | 69 | ||||||||||||||
| Other income | 42 | 44 | 48 | 124 | 427 | ||||||||||||||
| 2,065 | 1,851 | 1,759 | 7,285 | 6,970 | |||||||||||||||
| Noninterest expenses | |||||||||||||||||||
| Salaries and employee benefits | 4,576 | 4,525 | 4,087 | 17,770 | 16,704 | ||||||||||||||
| Occupancy and equipment | 1,445 | 1,387 | 1,311 | 5,636 | 5,032 | ||||||||||||||
| Data processing expense | 940 | 744 | 610 | 3,019 | 2,231 | ||||||||||||||
| FDIC Assessments | 279 | 153 | 143 | 720 | 588 | ||||||||||||||
| Advertising | 252 | 256 | 219 | 965 | 768 | ||||||||||||||
| Bank franchise tax | 136 | 132 | 61 | 466 | 376 | ||||||||||||||
| Director fees | 148 | 52 | 150 | 326 | 349 | ||||||||||||||
| Professional fees | 276 | 188 | 194 | 856 | 722 | ||||||||||||||
| Telephone expense | 120 | 117 | 155 | 473 | 556 | ||||||||||||||
| Core deposit intangible amortization | 216 | 107 | 80 | 482 | 369 | ||||||||||||||
| Merger-related expenses | 923 | 1,143 | - | 2,423 | - | ||||||||||||||
| Other expense | 987 | 821 | 898 | 3,145 | 2,847 | ||||||||||||||
| 10,298 | 9,625 | 7,908 | 36,281 | 30,542 | |||||||||||||||
| Net income before income taxes | 3,122 | 1,419 | 2,758 | 9,358 | 12,076 | ||||||||||||||
| Income tax expense | 619 | 362 | 603 | 1,933 | 2,376 | ||||||||||||||
| Net income | $ | 2,503 | $ | 1,057 | $ | 2,155 | $ | 7,425 | $ | 9,700 | |||||||||
| Net income per share | $ | 0.45 | $ | 0.19 | $ | 0.39 | $ | 1.34 | $ | 1.74 | |||||||||
| Weighted average shares outstanding | 5,557,156 | 5,553,579 | 5,561,075 | 5,557,210 | 5,579,654 | ||||||||||||||
| Dividends declared per share | $ | 0.00 | $ | 0.23 | $ | 0.00 | $ | 0.46 | $ | 0.42 | |||||||||
Skyline Bankshares, Inc.
Reconciliation of Non-GAAP Financial Measures
In addition to financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”), the Company uses certain non-GAAP financial measures that provide useful information for financial and operational decision making, evaluating trends, and understanding the Company’s financial condition, capital position and financial results. Non-GAAP financial measures are supplemental and not a substitute for, or more important than, financial measures prepared in accordance with GAAP and may not be comparable to those reported by other financial institutions. The non-GAAP financial measure presented in this document includes tangible book value per share, and the following items adjusted for merger-related expenses: return on average assets, return on average equity, and net income per share. For periods that are shorter than twelve months, the Company annualizes net income for the return on average assets and the return on average equity. The following tables present calculations underlying non-GAAP financial measures.
| December 31, | September 30, | December 31, | |||||||||
| (dollars in thousands except share amounts) | 2024 | 2024 | 2023 | ||||||||
| (Unaudited) | (Unaudited) | (Unaudited) | |||||||||
| Tangible Common Equity | |||||||||||
| Total stockholders’ equity (GAAP) | $ | 88,668 | $ | 88,623 | $ | 82,882 | |||||
| Less: Goodwill | (7,900 | ) | (7,900 | ) | (3,257 | ) | |||||
| Less: Core deposit intangible | (3,815 | ) | (4,031 | ) | (917 | ) | |||||
| Tangible common equity (non-GAAP) | $ | 76,953 | $ | 76,692 | $ | 78,708 | |||||
| Common stock shares outstanding | 5,651,704 | 5,639,204 | 5,584,204 | ||||||||
| Tangible book value per share | $ | 13.62 | $ | 13.60 | $ | 14.09 | |||||
| Three Months Ended | Year Ended | ||||||||||||||||||
| December 31, | September 30, | December 31, | December 31, | ||||||||||||||||
| (dollars in thousands except share amounts) | 2024 | 2024 | 2023 | 2024 | 2023 | ||||||||||||||
| (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | |||||||||||||||
| Annualized Net Income | |||||||||||||||||||
| Net income (GAAP) | $ | 2,503 | $ | 1,057 | $ | 2,155 | $ | 7,425 | $ | 9,700 | |||||||||
| Add: Items not annualized | |||||||||||||||||||
| Merger-related expenses | 923 | 1,143 | - | 2,423 | - | ||||||||||||||
| Tax effect of merger-related expenses | (184 | ) | (212 | ) | - | (407 | ) | - | |||||||||||
| Total non-annualized items | 739 | 931 | - | 2,016 | - | ||||||||||||||
| Adjusted net income | $ | 3,242 | $ | 1,988 | $ | 2,155 | $ | 9,441 | $ | 9,700 | |||||||||
| Adjusted net income, annualized for ratio calculation (non-GAAP) | $ | 12,898 | $ | 7,909 | $ | 8,550 | $ | 9,441 | $ | 9,700 | |||||||||
| Net income, annualized for ratio calculation | $ | 9,958 | $ | 4,205 | $ | 8,550 | $ | 7,425 | $ | 9,700 | |||||||||
| Average total assets | $ | 1,213,167 | $ | 1,123,844 | $ | 1,032,307 | $ | 1,109,465 | $ | 1,012,827 | |||||||||
| Average total equity | $ | 88,684 | $ | 87,292 | $ | 77,352 | $ | 85,460 | $ | 76,598 | |||||||||
| Weighted average shares outstanding | 5,557,156 | 5,553,579 | 5,561,075 | 5,557,210 | 5,579,654 | ||||||||||||||
| Return on average assets (GAAP) | 0.82 | % | 0.37 | % | 0.83 | % | 0.67 | % | 0.96 | % | |||||||||
| Adjusted return on average assets (non-GAAP) | 1.06 | % | 0.70 | % | 0.83 | % | 0.85 | % | 0.96 | % | |||||||||
| Return on average equity (GAAP) | 11.23 | % | 4.82 | % | 11.05 | % | 8.69 | % | 12.66 | % | |||||||||
| Adjusted return on average equity (non-GAAP) | 14.54 | % | 9.06 | % | 11.05 | % | 11.05 | % | 12.66 | % | |||||||||
| Net income per share | $ | 0.45 | $ | 0.19 | $ | 0.39 | $ | 1.34 | $ | 1.74 | |||||||||
| Adjusted net income per share | $ | 0.58 | $ | 0.36 | $ | 0.39 | $ | 1.70 | $ | 1.74 | |||||||||
For more information contact:
Blake Edwards, President & CEO – 276-773-2811
Lori Vaught, EVP & CFO – 276-773-2811
FAQ
What was Skyline Bankshares (SLBK) Q4 2024 earnings per share?
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What was the impact of Johnson County Bank acquisition on SLBK's assets?
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