Skyline Bankshares, Inc. Announces Third Quarter 2024 Results
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 (OTC QX: SLBK) ha riportato un reddito netto nel terzo trimestre del 2024 di 1,1 milioni di dollari (0,19 dollari per azione), rispetto ai 2,1 milioni di dollari (0,37 dollari per azione) nel terzo trimestre del 2023. L'azienda ha completato l'acquisizione di Johnson County Bank il 1° settembre 2024, aggiungendo 154,1 milioni di dollari in attività e 125,3 milioni di dollari in depositi. Escludendo le spese legate alla fusione di 1,1 milioni di dollari, il reddito netto per il terzo trimestre del 2024 sarebbe stato di 2,0 milioni di dollari (0,36 dollari per azione). Le attività totali sono aumentate del 15,36% a 1,21 miliardi di dollari, mentre i prestiti netti sono cresciuti del 16,57% a 945,3 milioni di dollari. Il margine di interesse netto è migliorato al 3,78% nel terzo trimestre del 2024 rispetto al 3,72% nel secondo trimestre del 2024.
Skyline Bankshares (OTC QX: SLBK) reportó un ingreso neto de $1.1 millones ($0.19 por acción) en el tercer trimestre de 2024, comparado con $2.1 millones ($0.37 por acción) en el tercer trimestre de 2023. La compañía completó la adquisición de Johnson County Bank el 1 de septiembre de 2024, añadiendo $154.1 millones en activos y $125.3 millones en depósitos. Excluyendo los gastos relacionados con la fusión de $1.1 millones, el ingreso neto del tercer trimestre de 2024 habría sido de $2.0 millones ($0.36 por acción). Los activos totales aumentaron un 15.36% a $1.21 mil millones, mientras que los préstamos netos crecieron un 16.57% a $945.3 millones. El margen de interés neto mejoró al 3.78% en el tercer trimestre de 2024 desde el 3.72% en el segundo trimestre de 2024.
Skyline Bankshares (OTC QX: SLBK)은 2024년 3분기에 110만 달러(주당 0.19달러)의 순이익을 보고했으며, 2023년 3분기의 210만 달러(주당 0.37달러)에 비해 감소했습니다. 이 회사는 2024년 9월 1일 존슨 카운티 은행의 인수를 완료하여 자산 1억 5410만 달러와 예금 1억 2530만 달러를 추가했습니다. 합병 관련 비용 110만 달러를 제외하면 2024년 3분기의 순이익은 200만 달러(주당 0.36달러)가 되었을 것입니다. 총 자산은 15.36% 증가하여 12억 1000만 달러가 되었으며, 순 대출은 16.57% 증가하여 9억 4530만 달러에 달했습니다. 순이자 마진은 2024년 3분기에 3.78%로 개선되었고, 2024년 2분기의 3.72%에서 상승했습니다.
Skyline Bankshares (OTC QX: SLBK) a reporté un revenu net de 1,1 million de dollars (0,19 dollar par action) pour le troisième trimestre de 2024, contre 2,1 millions de dollars (0,37 dollar par action) pour le troisième trimestre de 2023. La société a finalisé l'acquisition de Johnson County Bank le 1er septembre 2024, ajoutant 154,1 millions de dollars d'actifs et 125,3 millions de dollars de dépôts. En excluant les frais liés à la fusion de 1,1 million de dollars, le revenu net du troisième trimestre de 2024 aurait été de 2,0 millions de dollars (0,36 dollar par action). Les actifs totaux ont augmenté de 15,36 % pour atteindre 1,21 milliard de dollars, tandis que les prêts nets ont crû de 16,57 % pour atteindre 945,3 millions de dollars. La marge d'intérêt nette s'est améliorée à 3,78 % au troisième trimestre de 2024, contre 3,72 % au deuxième trimestre de 2024.
Skyline Bankshares (OTC QX: SLBK) meldete im 3. Quartal 2024 einen Nettogewinn von 1,1 Millionen US-Dollar (0,19 US-Dollar pro Aktie), im Vergleich zu 2,1 Millionen US-Dollar (0,37 US-Dollar pro Aktie) im 3. Quartal 2023. Das Unternehmen hat am 1. September 2024 die Übernahme der Johnson County Bank abgeschlossen und dabei 154,1 Millionen US-Dollar an Vermögenswerten und 125,3 Millionen US-Dollar an Einlagen hinzugefügt. Ohne fusionsbedingte Ausgaben von 1,1 Millionen US-Dollar wäre der Nettogewinn im 3. Quartal 2024 auf 2,0 Millionen US-Dollar (0,36 US-Dollar pro Aktie) gestiegen. Die Gesamtkapitalien stiegen um 15,36% auf 1,21 Milliarden US-Dollar, während die Nettokredite um 16,57% auf 945,3 Millionen US-Dollar wuchsen. Der Nett Zinsmargen verbesserte sich im 3. Quartal 2024 auf 3,78% von 3,72% im 2. Quartal 2024.
- Core loan growth of $32.5 million in Q3 2024 (15.57% annualized rate)
- Net interest margin improved to 3.78% from 3.72% quarter-over-quarter
- Strong asset quality with nonperforming loans ratio of 0.18%
- Total deposits increased by $157.2 million (16.92%) year-to-date
- Net income decreased to $1.1M in Q3 2024 from $2.1M in Q3 2023
- Return on average assets declined to 0.37% from 0.81% year-over-year
- Interest expense on deposits increased by $1.5M due to rate competition
- Noninterest expense increased by $1.7M (21.80%) year-over-year
FLOYD, Va. and INDEPENDENCE, Va., Nov. 14, 2024 (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 third 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 third quarter was marked by several positive achievements. Earnings were strong, especially when adjusted for direct merger-related costs and additional loan loss provisions. During the quarter our loan growth excluding the JCB loans acquired was
Edwards continued, “We successfully completed the acquisition of Johnson County Bank during the third quarter of 2024 and recently completed the core systems conversion with the goal of having full integration accomplished by year-end. 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
$1.1 million , or$0.19 per share, in the third quarter of 2024, compared to$2.1 million , or$0.37 per share, in the third quarter of 2023. - Net interest margin (“NIM”) was
3.78% for the third quarter of 2024, compared to3.72% in the second quarter of 2024, and3.66% in the third quarter of 2023. - Total assets increased
$160.7 million , or15.36% , to$1.21 billion at September 30, 2024 from$1.05 billion at December 31, 2023. - Net loans were
$945.3 million at September 30, 2024, an increase of$134.3 million , or16.57% , when compared to$811.0 million at December 31, 2023. Excluding the$87.2 million in loans acquired as part of the JCB merger, loans increased by$48.1 million , or5.90% , for the first nine months of 2024. - Total deposits were
$1.09 billion at September 30, 2024, an increase of$157.2 million , or16.92% , 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$31.8 million , or3.43% , for the first nine months of 2024. - During the quarter, the Company incurred
$1.1 million in merger related expenses related to the acquisition of JCB. Excluding these merger related expenses, net income would have been$2.0 million , or$0.36 per share for the third quarter of 2024.
Third Quarter, First Nine Months of 2024 Income Statement Review
Net interest income after provision for credit losses in the third quarter of 2024 was
For the first nine months of 2024, net interest income after provision for (recovery of) credit losses was
Third quarter 2024 and 2023 noninterest income was comparable at
For the nine months ended September 30, 2024 and 2023, noninterest income was comparable at
Noninterest expense in the third quarter of 2024 was
For the nine-month period ended September 30, 2024, total noninterest expenses increased by
Net income before taxes decreased by
Balance Sheet Review
As a result of the JCB merger total assets increased in the third quarter of 2024 by
Total loans increased during the third quarter by
Asset quality has remained strong, with a ratio of nonperforming loans to total loans of
Investment securities increased by
Total deposits increased in the third quarter of 2024 by
Excluding the
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.
For more information contact:
Blake Edwards, President & CEO – 276-773-2811
Lori Vaught, EVP & CFO – 276-773-2811
(See Attached Financial Statements for quarter ending September 30, 2024)
| Skyline Bankshares, Inc. Condensed Consolidated Balance Sheets September 30, 2024; June 30, 2024; December 31, 2023; September 30, 2023 | |||||||||||||||
| September 30, | June 30, | December 31, | September 30, | ||||||||||||
| (dollars in thousands except share amounts) | 2024 | 2024 | 2023 | 2023 | |||||||||||
| (Unaudited) | (Unaudited) | (Audited) | (Unaudited) | ||||||||||||
| Assets | |||||||||||||||
| Cash and due from banks | $ | 27,862 | $ | 17,983 | $ | 16,811 | $ | 16,245 | |||||||
| Interest-bearing deposits with banks | 6,766 | 12,071 | 4,808 | 1,449 | |||||||||||
| Federal funds sold | 536 | 402 | 474 | 221 | |||||||||||
| Investment securities available for sale | 123,906 | 120,694 | 127,389 | 121,753 | |||||||||||
| Restricted equity securities | 4,235 | 3,372 | 3,338 | 3,338 | |||||||||||
| Loans | 953,122 | 833,614 | 817,704 | 797,761 | |||||||||||
| Allowance for credit losses | (7,787 | ) | (6,870 | ) | (6,739 | ) | (6,695 | ) | |||||||
| Net loans | 945,335 | 826,744 | 810,965 | 791,066 | |||||||||||
| Cash value of life insurance | 26,558 | 22,697 | 22,909 | 22,770 | |||||||||||
| Other real estate owned | 140 | - | - | - | |||||||||||
| Properties and equipment, net | 33,741 | 31,932 | 31,183 | 30,951 | |||||||||||
| Accrued interest receivable | 3,810 | 3,676 | 3,463 | 3,203 | |||||||||||
| Core deposit intangible | 4,031 | 758 | 917 | 997 | |||||||||||
| Goodwill | 7,900 | 3,257 | 3,257 | 3,257 | |||||||||||
| Deferred tax assets, net | 5,125 | 5,285 | 5,046 | 6,796 | |||||||||||
| Other assets | 16,555 | 15,557 | 15,283 | 15,062 | |||||||||||
| Total assets | $ | 1,206,500 | $ | 1,064,428 | $ | 1,045,843 | $ | 1,017,108 | |||||||
| Liabilities | |||||||||||||||
| Deposits | |||||||||||||||
| Noninterest-bearing | $ | 340,340 | $ | 296,880 | $ | 305,115 | $ | 299,628 | |||||||
| Interest-bearing | 745,567 | 651,227 | 623,627 | 608,439 | |||||||||||
| Total deposits | 1,085,907 | 948,107 | 928,742 | 908,067 | |||||||||||
| Borrowings | 25,000 | 25,000 | 27,500 | 27,500 | |||||||||||
| Accrued interest payable | 979 | 655 | 531 | 420 | |||||||||||
| Other liabilities | 5,991 | 6,157 | 6,188 | 6,485 | |||||||||||
| Total liabilities | 1,117,877 | 979,919 | 962,961 | 942,472 | |||||||||||
| Stockholders’ Equity | |||||||||||||||
| Common stock and surplus | 33,283 | 33,213 | 33,356 | 33,366 | |||||||||||
| Retained earnings | 71,212 | 71,452 | 68,866 | 66,711 | |||||||||||
| Accumulated other comprehensive loss | (15,872 | ) | (20,156 | ) | (19,340 | ) | (25,441 | ) | |||||||
| Total stockholders’ equity | 88,623 | 84,509 | 82,882 | 74,636 | |||||||||||
| Total liabilities and stockholders’ equity | $ | 1,206,500 | $ | 1,064,428 | $ | 1,045,843 | $ | 1,017,108 | |||||||
| Book value per share | $ | 15.72 | $ | 15.01 | $ | 14.84 | $ | 13.36 | |||||||
| Tangible book value per share(1) | $ | 13.60 | $ | 14.30 | $ | 14.09 | $ | 12.60 | |||||||
| Asset Quality Indicators | |||||||||||||||
| Nonperforming assets to total assets | 0.15 | % | 0.15 | % | 0.17 | % | 0.18 | % | |||||||
| Nonperforming loans to total loans | 0.18 | % | 0.19 | % | 0.21 | % | 0.23 | % | |||||||
| Allowance for credit losses to total loans | 0.82 | % | 0.82 | % | 0.82 | % | 0.84 | % | |||||||
| Allowance for credit losses to nonperforming loans | 453.00 | % | 430.72 | % | 389.31 | % | 365.25 | % | |||||||
(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 | Nine Months Ended | |||||||||||||||
| September 30, | June 30, | September 30, | September 30, | |||||||||||||
| (dollars in thousands except share amounts) | 2024 | 2024 | 2023 | 2024 | 2023 | |||||||||||
| (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | ||||||||||||
| Interest income | ||||||||||||||||
| Loans and fees on loans | $ | 12,759 | $ | 11,527 | $ | 10,193 | $ | 35,433 | $ | 29,034 | ||||||
| Interest-bearing deposits in banks | 150 | 84 | 24 | 298 | 211 | |||||||||||
| Federal funds sold | 25 | 4 | 2 | 33 | 26 | |||||||||||
| Interest on securities | 737 | 708 | 739 | 2,179 | 2,281 | |||||||||||
| Dividends | 41 | 77 | 21 | 155 | 88 | |||||||||||
| 13,712 | 12,400 | 10,979 | 38,098 | 31,640 | ||||||||||||
| Interest expense | ||||||||||||||||
| Deposits | 3,407 | 2,960 | 1,902 | 9,049 | 4,257 | |||||||||||
| Interest on borrowings | 374 | 337 | 350 | 1,148 | 761 | |||||||||||
| 3,781 | 3,297 | 2,252 | 10,197 | 5,018 | ||||||||||||
| Net interest income | 9,931 | 9,103 | 8,727 | 27,901 | 26,622 | |||||||||||
| Provision for (Recovery of) credit losses | 738 | 71 | 182 | 902 | (119 | ) | ||||||||||
| Net interest income after | ||||||||||||||||
| Provision for (recovery of) credit losses | 9,193 | 9,032 | 8,545 | 26,999 | 26,741 | |||||||||||
| Noninterest income | ||||||||||||||||
| Service charges on deposit accounts | 598 | 544 | 564 | 1,693 | 1,606 | |||||||||||
| Other service charges and fees | 940 | 909 | 894 | 2,698 | 2,546 | |||||||||||
| Net realized gains on securities | - | - | - | (141 | ) | (16 | ) | |||||||||
| Mortgage origination fees | 108 | 46 | 37 | 209 | 189 | |||||||||||
| Increase in cash value of life insurance | 161 | 151 | 146 | 458 | 438 | |||||||||||
| Life insurance income | - | 3 | 69 | 221 | 69 | |||||||||||
| Other income | 44 | 17 | 207 | 82 | 379 | |||||||||||
| 1,851 | 1,670 | 1,917 | 5,220 | 5,211 | ||||||||||||
| Noninterest expenses | ||||||||||||||||
| Salaries and employee benefits | 4,525 | 4,348 | 4,355 | 13,194 | 12,617 | |||||||||||
| Occupancy and equipment | 1,387 | 1,393 | 1,363 | 4,191 | 3,721 | |||||||||||
| Data processing expense | 744 | 686 | 606 | 2,079 | 1,621 | |||||||||||
| FDIC Assessments | 153 | 144 | 150 | 441 | 445 | |||||||||||
| Advertising | 256 | 240 | 227 | 713 | 549 | |||||||||||
| Bank franchise tax | 132 | 99 | 105 | 330 | 315 | |||||||||||
| Director fees | 52 | 68 | 60 | 178 | 199 | |||||||||||
| Professional fees | 188 | 171 | 151 | 580 | 528 | |||||||||||
| Telephone expense | 117 | 129 | 144 | 353 | 401 | |||||||||||
| Core deposit intangible amortization | 107 | 79 | 79 | 266 | 289 | |||||||||||
| Merger related expenses | 1,143 | 357 | - | 1,500 | - | |||||||||||
| Other expense | 821 | 668 | 662 | 2,158 | 1,949 | |||||||||||
| 9,625 | 8,382 | 7,902 | 25,983 | 22,634 | ||||||||||||
| Net income before income taxes | 1,419 | 2,320 | 2,560 | 6,236 | 9,318 | |||||||||||
| Income tax expense | 362 | 506 | 496 | 1,314 | 1,773 | |||||||||||
| Net income | $ | 1,057 | $ | 1,814 | $ | 2,064 | $ | 4,922 | $ | 7,545 | ||||||
| Net income per share | $ | 0.19 | $ | 0.33 | $ | 0.37 | $ | 0.89 | $ | 1.35 | ||||||
| Weighted average shares outstanding | 5,553,579 | 5,553,579 | 5,571,454 | 5,557,229 | 5,585,914 | |||||||||||
| Dividends declared per share | $ | 0.23 | $ | 0.00 | $ | 0.21 | $ | 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.
| September 30, | June 30, | December 31, | September 30, | ||||||||||||
| (dollars in thousands except share amounts) | 2024 | 2024 | 2023 | 2023 | |||||||||||
| (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | ||||||||||||
| Tangible Common Equity | |||||||||||||||
| Total stockholders’ equity (GAAP) | $ | 88,623 | $ | 84,509 | $ | 82,882 | $ | 74,636 | |||||||
| Less: Goodwill | (7,900 | ) | (3,257 | ) | (3,257 | ) | (3,257 | ) | |||||||
| Less: Core deposit intangible | (4,031 | ) | (758 | ) | (917 | ) | (997 | ) | |||||||
| Tangible common equity (non-GAAP) | $ | 76,692 | $ | 80,494 | $ | 78,708 | $ | 70,382 | |||||||
| Common stock shares outstanding | 5,639,204 | 5,629,204 | 5,584,204 | 5,587,704 | |||||||||||
| Tangible book value per share | $ | 13.60 | $ | 14.30 | $ | 14.09 | $ | 12.60 | |||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||
| September 30, | June 30, | September 30, | September 30, | ||||||||||||||||
| (dollars in thousands except share amounts) | 2024 | 2024 | 2023 | 2024 | 2023 | ||||||||||||||
| (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | |||||||||||||||
| Annualized Net Income | |||||||||||||||||||
| Net income (GAAP) | $ | 1,057 | $ | 1,814 | $ | 2,064 | $ | 4,922 | $ | 7,545 | |||||||||
| Add: Items not annualized | |||||||||||||||||||
| Merger related expenses | 1,143 | 357 | - | 1,500 | - | ||||||||||||||
| Tax effect of merger related expenses | (212 | ) | (11 | ) | - | (223 | ) | - | |||||||||||
| Total non-annualized items | 931 | 346 | 2,064 | 1,277 | - | ||||||||||||||
| Adjusted net income | $ | 1,988 | $ | 2,160 | $ | 2,064 | $ | 6,199 | $ | 7,545 | |||||||||
| Adjusted net income, annualized for ratio calculation (non-GAAP) | $ | 7,909 | $ | 8,687 | $ | 8,189 | $ | 8,280 | $ | 10,088 | |||||||||
| Net income, annualized for ratio calculation | $ | 4,205 | $ | 7,296 | $ | 8,189 | $ | 6,575 | $ | 10,088 | |||||||||
| Average total assets | $ | 1,123,844 | $ | 1,053,049 | $ | 1,012,594 | $ | 1,074,644 | $ | 1,006,656 | |||||||||
| Average total equity | $ | 87,292 | $ | 82,823 | $ | 76,806 | $ | 84,377 | $ | 76,101 | |||||||||
| Weighted average shares outstanding | 5,553,579 | 5,553,579 | 5,571,454 | 5,557,229 | 5,585,914 | ||||||||||||||
| Return on average assets (GAAP) | 0.37 | % | 0.69 | % | 0.81 | % | 0.61 | % | 1.00 | % | |||||||||
| Adjusted return on average assets (non-GAAP) | 0.70 | % | 0.82 | % | 0.81 | % | 0.77 | % | 1.00 | % | |||||||||
| Return on average equity (GAAP) | 4.82 | % | 8.81 | % | 10.66 | % | 7.79 | % | 13.26 | % | |||||||||
| Adjusted return on average equity (non-GAAP) | 9.06 | % | 10.49 | % | 10.66 | % | 9.81 | % | 13.26 | % | |||||||||
| Net income per share | $ | 0.19 | $ | 0.33 | $ | 0.37 | $ | 0.89 | $ | 1.35 | |||||||||
| Adjusted net income per share | $ | 0.36 | $ | 0.39 | $ | 0.37 | $ | 1.12 | $ | 1.35 | |||||||||
FAQ
What was Skyline Bankshares (SLBK) Q3 2024 earnings per share?
How much did SLBK acquire Johnson County Bank for in September 2024?
What was SLBK's net interest margin in Q3 2024?
How much were SLBK's merger-related expenses in Q3 2024?
