Welcome to our dedicated page for STANDARD FINANCI news (Ticker: STND), a resource for investors and traders seeking the latest updates and insights on STANDARD FINANCI stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect STANDARD FINANCI's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of STANDARD FINANCI's position in the market.
Dollar Mutual Bancorp and Standard AVB Financial Corp. announced the successful completion of their merger as of May 28, 2021. Standard now operates as a wholly-owned subsidiary of Dollar. Jim McQuade remains as CEO while Andrew Hasley continues as President. The merger enhances regional presence and allows for improved product offerings while maintaining a commitment to community banking. Dollar Mutual Bancorp has total assets of $11.5 billion and operates 98 locations across several states, emphasizing its dedication to quality banking services.
Dollar Mutual Bancorp and Standard AVB Financial Corp. have received regulatory approvals for the merger, expected to finalize after market hours on May 28, 2021. Stockholders of Standard approved the merger on January 19, 2021. Following the merger, Standard Bank will convert to a federal savings bank, while both banks will continue operating separately. As of March 31, 2021, Dollar holds assets of $10.3 billion, and Standard has $1.1 billion in assets, serving various regions in Pennsylvania and Maryland.
Standard AVB Financial Corp. (NASDAQ: STND) reported Q1 2021 earnings of $2.1 million, or $0.46 per share, up from $1.1 million, or $0.24 per share in Q1 2020. The results were impacted by $151,000 in merger-related costs due to the pending merger with Dollar Mutual Bancorp. Net interest income increased to $7.2 million, while noninterest income rose significantly to $1.2 million. Total assets remained stable at $1.1 billion, with an increase in cash and cash equivalents. A quarterly dividend of $0.221 per share was declared, payable on May 24, 2021.
Standard AVB Financial Corp. (Nasdaq: STND) reported an increase in net income for the quarter and year ended December 31, 2020. Net income rose to $2.4 million ($0.53/share) for Q4 and $6.9 million ($1.52/share) for the full year. Adjusted for merger-related expenses, net income would be $3.0 million ($0.64/share) for Q4 and $7.9 million ($1.74/share) annually. Return on average assets was 0.92% for Q4 and 0.67% for the year. The revisions stem from a tax treatment review related to stock option exercises in connection with a merger with Dollar Mutual Bancorp.
Standard AVB Financial Corp. (STND) announced a Q4 2020 net income of $2.0 million ($0.44 per share), down from $2.1 million ($0.46 per share) in Q4 2019, affected by $522,000 in merger-related expenses. Excluding these costs, net income would have been $2.5 million ($0.53 per share). For the full year 2020, earnings dropped to $6.5 million ($1.43 per share) from $8.8 million ($1.91 per share) in 2019. The company recorded a 60.6% increase in the allowance for loan losses amid economic uncertainty. A quarterly dividend of $0.221 per share was declared, payable on February 22, 2021.
Standard AVB Financial Corp. (Nasdaq: STND) has announced stockholder approval for its merger with Dollar Mutual Bancorp. This merger is subject to regulatory approvals and expected to close in the first half of 2021. Standard AVB Financial Corp. holds $1.1 billion in total assets and operates 17 offices in Pennsylvania and Maryland, serving small to mid-sized businesses and individuals.
Potential risks include obtaining necessary regulatory approvals and the impact of the ongoing COVID-19 pandemic on operations.
Standard AVB Financial Corp. (NASDAQ: STND) reported a Q3 2020 net income of $2.2 million ($0.49/share), affected by merger expenses of $553,000. Excluding these, net income would be $2.8 million ($0.61/share), up from $2.5 million ($0.54/share) in Q3 2019. For the nine months ended September 30, 2020, net income totaled $4.5 million ($0.99/share), down from $6.7 million ($1.45/share) in 2019. A quarterly dividend of $0.221/share was declared, payable on November 23, 2020. Total assets rose 8.3% to $1.1 billion, reflecting strong cash and loan growth, partially offset by increased provisions for loan losses.
Dollar Mutual Bancorp has announced its acquisition of Standard AVB Financial Corp. in an all-cash deal valued at $158 million. Under this agreement, Standard's shareholders will receive $33.00 per share. The merger aims to enhance customer service and strengthen Dollar's regional presence while maintaining Standard Bank as a wholly owned subsidiary. The transaction is expected to close in the first half of 2021, subject to regulatory approvals and shareholder consent.
Standard AVB Financial Corp. (NASDAQ: STND) reported earnings of $1.1 million, or $0.25 per share, for Q2 2020, down from $2.1 million, or $0.45 per share, in Q2 2019. For the first half of 2020, earnings totaled $2.2 million, compared to $4.3 million in the same period last year. The decline was attributed to higher loan loss provisions and lower interest income. Total assets increased by 7.8% to $1.1 billion, influenced by significant deposits linked to SBA PPP loans. The board declared a quarterly dividend of $0.221 per share, amid ongoing economic uncertainties due to COVID-19.
Standard AVB Financial Corp. (NASDAQ: STND) will be included in the small-cap Russell 2000® Index and the broad-market Russell 3000® Index, effective June 29, 2020. This inclusion is a result of the annual reconstitution of the Russell indexes, which ranks companies by market capitalization. CEO Timothy K. Zimmerman stated that this milestone is expected to enhance investor awareness and broaden the stock's investor base. Approximately $9 trillion in assets are benchmarked against Russell's indexes, which are vital for institutional and active investment strategies.
