Commencement Bancorp, Inc. (CBWA) Announces Second Quarter 2021 Results
ACCESSWIRE
2021 Second Quarter Financials:
Total assets increased $13.3 million, or 2%, to $561.8 million at June 30, 2021 from $548.5 million for the period ending June 30, 2020. This increase is despite PPP loans decreasing due to forgiveness from $114.5 million to $60.3 million, compared to second quarter 2020.
Core loan growth, excluding PPP volume, increased 9% to $326.9 million
Total deposits increased $44 million, or 10%, from second quarter 2020. Deposit mix improved as interest bearing demand and savings accounts increased $53.6 million, or 27%, and time deposits decreased 11% to $94.9 million.
Tangible book value per share increased to $12.27 for the quarter compared to $11.47 one year earlier.
Interest income exceeded $5 million for the second consecutive quarter and increased 15% from prior year.
Share this article
Share this article
TUCSON, Ariz., July 30, 2021 /PRNewswire/ CBOA Financial, Inc. (OTCMKTS:CBOF) (the Company ), parent company of Commerce Bank of Arizona (the Bank or CBAZ ), announced that consolidated after tax net income for quarter ending June 30, 2021 increased 223% to $1,277,000, from $395,000 year-over-year.
Chris Webster, Bank President and Chief Executive Officer commented, The strong loan growth performance seen earlier in the year continued through the second quarter. Our highly experienced and accomplished lending team worked hard to originate significant new loan opportunities while at the same time processing another $27 million in second round Paycheck Protection Program ( PPP ) loans. However Total Loan balances were impacted as the Bank received a significant level of PPP loan forgiveness during the quarter, Webster added. He further commented, In terms of our funding costs, 39% of our Total Deposits are Non-interest bearing. As a res
CFTC Whistleblower Program and Recent Award Update natlawreview.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from natlawreview.com Daily Mail and Mail on Sunday newspapers.
U & I Financial Corp. Reports Second Quarter 2021 Financial Results
ACCESSWIRE
30 Jul 2021, 06:05 GMT+10
LYNNWOOD, WA / ACCESSWIRE / July 29, 2021 / U & I Financial Corp. (OTCQX:UNIF), the holding company for UniBank, today reported record quarterly earnings of $2.2 million or $0.41 per share in the second quarter, as compared to $1.5 million or $0.26 per share for the same quarter of 2020, increasing by $787 thousand or 54.1%, primarily due to higher gain on sale of government guaranteed loans.
As of June 30, 2021, total assets reached a record, $417.1 million, increasing by $36.7 million or 9.6% from the year earlier period of $380.4 million. Net loans ended at $274.5 million, decreasing by $7.0 million or 2.5% from the year earlier period of $281.5 million, primarily due to the SBA PPP Loan forgiveness activities. However, loans held for sale increased by $12.7 million from last year, outweighing the net loans decrease. Finally, total deposits grew by $34.4 million or 11.0% to
Pay ration with Louisville s publicly traded company CEOs - Louisville Business First bizjournals.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bizjournals.com Daily Mail and Mail on Sunday newspapers.