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Great Southern Bancorp, Inc. Reports Preliminary First Quarter Earnings of $1.36 Per Diluted Common Share Preliminary Financial Results and Other Matters for the Quarter Ended March 31, 2021: CECL Adoption : Effective January 1, 2021, Great Southern Bancorp, Inc. (the Company) adopted the Current Expected Credit Loss (CECL) accounting standard. The Company’s financial statements for periods prior to January 1, 2021, were prepared under the previous incurred loss accounting standard. The adoption of the CECL accounting standard during the first quarter of 2021 required us to recognize a one-...

(1) Share amounts related to the periods prior to January 22, 2020 closing of the conversion offering have been restated to give retroactive recognition to the 1.6351 exchange ratio applied in the conversion offering. The full text of the corrected release is a follows: CINCINNATI, Ohio — Cincinnati Bancorp, Inc.  ("Cincinnati Bancorp") (NASDAQ: CNNB) today reported net income for the year ended December 31, 2020 of $3,155,700, compared to $798,500 for 2019, or an increase of 295.2%. Earnings per basic and diluted share for the year ended December 31, 2020 were $1.14 for basic and $1.12 f...

Share this article Share this article CINCINNATI, Feb. 10, 2021 /PRNewswire/ -- Cincinnati Bancorp, Inc. ("Cincinnati Bancorp") (NASDAQ: CNNB) today reported net income for the year ended December 31, 2020 of $3,155,700, compared to $798,500 for 2019, or an increase of 295.2%. Earnings per basic and diluted share for the year ended December 31, 2020 were $1.09 for basic and $1.07 for diluted, compared to $0.28 for basic and $0.27 for diluted for 2019.  Cincinnati Bancorp Chief Executive Officer Robert Bedinghaus said, "Cincinnati Bancorp's record 2020 earnings were a result of the dedica...

Press release content from Globe Newswire. The AP news staff was not involved in its creation. Mackinac Financial Corporation Reports 2020 Fourth Quarter and Annual Results Mackinac Financial CorporationJanuary 28, 2021 GMT MANISTIQUE, Mich., Jan. 28, 2021 (GLOBE NEWSWIRE) -- Mackinac Financial Corporation (Nasdaq: MFNC) (the “Corporation”), the bank holding company for mBank, today announced 2020 net income of $13.47 million, or $1.27 per share, compared to 2019 net income of $13.85 million, or $1.29 per share. The Corporation had fourth quarter 2020 net income of $3.64 million, or $.35 ...

Great Southern Bancorp, Inc. Reports Preliminary Fourth Quarter and Annual Earnings of $1.28 and $4.21 Per Diluted Common Share Great Southern Bancorp, Inc. Preliminary Financial Results and Other Matters for the Quarter and Year Ended December 31, 2020: CECL Adoption: The recently-enacted COVID relief legislation, the Consolidated Appropriations Act, 2021, provides for an optional additional delay for certain bank holding companies to adopt the Current Expected Credit Loss (CECL) accounting standard. Great Southern Bancorp, Inc. (the Company) has elected to delay the initial adoption dat...