White Riv Bancshares Co - WRIV STOCK NEWS

White River Bancshares Company (OTCQX: WRIV), parent of Signature Bank of Arkansas, reported a fourth quarter 2022 net income of $1.42 million, a decrease from $1.50 million in Q4 2021. Full year net income declined to $5.62 million compared to $7.05 million in 2021. Notably, total deposits rose 11.6% to $810.6 million, with a significant loan increase of 20.6% to $826.7 million. The company also recorded a $350,000 provision for loan losses. Despite rising expenses and challenges in noninterest income, the bank's net interest margin improved to 3.80%. The company aims to expand its presence in newly opened markets for 2023.

White River Bancshares Company (OTCQX: WRIV) reported a net income of $1.33 million in Q3 2022, a decline from $1.93 million in Q3 2021. Year-to-date, net income fell to $4.19 million compared to $5.56 million in the same period last year. Notably, net interest margin expanded by 23 basis points, reaching 3.88%. Total deposits rose 7.0% to $791.5 million, while total loans increased by 17.9% to $780.5 million. The company also launched Banco Sí!, targeting the Hispanic community. A provision for loan losses of $410,000 was recorded, reflecting strong loan growth.

White River Bancshares Company (OTCQX: WRIV) declared an annual cash dividend of $1.00 per share, payable on August 31, 2022, to shareholders of record on July 20, 2022. This represents a 100% increase compared to last year’s dividend of $0.50 per share. In Q2 2022, the Company reported net income of $1.79 million or $1.79 per diluted share, a decline from $2.08 million or $2.14 per diluted share in the same quarter of 2021. However, the Company experienced record net interest income and growth in loans and deposits.

White River Bancshares Company (OTCQX: WRIV) reported net income of $1.79 million, or $1.79 per diluted share, for Q2 2022, down from $2.08 million in Q2 2021. Year-to-date net income was $2.9 million, compared to $3.6 million in 2021. Loan growth was strong at 10.2%, while total deposits increased by 13.4%. The company noted a 25% rise in non-interest bearing deposits, contributing to improved net interest margin (NIM) of 3.87%, up from 3.56% a year ago. However, overall income was impacted by reduced PPP income and increased expenses related to employee retention and new market expansions.

White River Bancshares Company (OTCQX: WRIV) reported a net income of $1.07 million in Q1 2022, down from $1.55 million a year earlier. Total deposits rose by 13.8% to $776.7 million, with non-interest bearing deposits increasing 39.9%. Net loans also increased by 7.1% year-over-year. However, operating expenses rose due to market expansion, and return on average assets decreased to 0.51% from 0.82% a year prior.

White River Bancshares Company (OTCQX: WRIV) reported a remarkable 18.4% increase in net income for Q4 2021, reaching $1.50 million or $1.50 per diluted share, compared to the previous year. The annual net income surged 84.4% to a historic $7.05 million. Key growth metrics included 12.7% loan growth and 15.7% deposit growth, highlighting a strong performance in a rapidly expanding market. Nonperforming assets rose to 0.11% of total assets, with a significant increase in noninterest bearing deposits by 34.8%. The Bank maintains a robust capital position, exceeding regulatory requirements.

White River Bancshares Company (OTCQX: WRIV) reported a strong third quarter for 2021, with net income rising 67.4% to $1.93 million or $1.99 per diluted share, compared to $1.15 million in Q3 2020. Year-to-date net income more than doubled to $5.56 million. The company announced a $0.50 annual cash dividend, reflecting robust banking performance. Key metrics show a 12.5% increase in net loans and a 16.9% rise in total deposits. Nonperforming assets were minimal at 0.02% of total assets. The net interest margin expanded to 3.64%, bolstered by low-cost deposits.

White River Bancshares Company (OTCQX: WRIV) announced an annual cash dividend of $0.50 per share, payable on August 31, 2021, to shareholders of record as of August 13, 2021. The decision follows the Company’s 210.7% increase in net income to a record $2.08 million in Q2 2021, compared to $669,000 in Q2 2020. Additionally, net loans rose 13.4% to $643.6 million and total deposits increased by 8.0% to $685.9 million.

White River Bancshares Company (OTCQX: WRIV) reported a remarkable 33.8% increase in net income for Q2 2021, reaching $2.08 million, or $2.14 per diluted share, compared to Q1 2021. This reflects a staggering 210.7% year-over-year rise. Total deposits grew by 8.0% to $685.9 million, with noninterest-bearing deposits soaring by 29.2%. The bank maintains strong credit quality, reporting no nonperforming assets for two consecutive quarters. Key metrics include a return on average assets of 1.04% and a capital ratio of 13.32%. Overall, the company anticipates continued growth moving forward.