Blueharbor Bk Stock Price, News & Analysis

blueharbor bank (BLHK) reported strong Q1 2025 financial results with net income of $2.39 million, or $0.79 per diluted share, representing a 79% increase from Q1 2024. Key performance metrics showed significant improvement:

Total assets reached $522.3 million, up 15% year-over-year, while gross loans increased by $63.6 million to $435.0 million. Deposits grew 15% to $457.5 million. The bank maintained excellent asset quality with zero non-performing assets, down from 0.01% in Q1 2024.

Financial highlights include:

• ROA of 1.93% and ROE of 17.21%
• Net interest margin of 4.16%
• Efficiency ratio improved to 43.63%
• Book value increased 5% to $19.48 since December 2024
• Strong capital position with total risk-based capital at 14.5%

blueharbor bank (BLHK) reported strong Q4 2024 performance with net income of $2.11 million ($0.70 per diluted share), up 40% from Q4 2023. The bank surpassed $500 million in assets, reaching $506.8 million, an 18% increase year-over-year. Key metrics include a 4.09% net interest margin, 1.72% ROA, and 15.30% ROE.

Loan growth was particularly strong, increasing $28.7 million (7%) in Q4 and $76.0 million (21%) for the year. Total deposits grew 18% to $440.7 million. Asset quality remained excellent with zero non-performing assets. However, full-year 2024 net income decreased 5% to $6.79 million compared to 2023, while noninterest income declined 15% in Q4 2024.

The bank maintains strong capital levels with a total risk-based capital ratio of 14.2% and expects continued growth into 2025 based on increased customer optimism and spending.

blueharbor bank (OTCQX-BLHK) has announced a special dividend of $0.20 per share, demonstrating strong capital and earnings performance. The dividend will be paid on December 13, 2024, to shareholders of record as of December 3, 2024. Management indicated potential consideration of additional special dividends in the future, though no firm decisions have been made.

blueharbor bank reported strong Q3 2024 performance with net income of $1.91 million and diluted EPS of $0.63, up 34% from previous quarter. The bank achieved significant growth with total assets reaching $486.0 million, a 13% increase year-over-year. Notable metrics include ROA of 1.60%, ROE of 14.27%, and net interest margin expansion of 22 basis points to 4.11%. Loan portfolio grew by $47.3 million (18% annualized) and deposits increased by $49.6 million (18% annualized) in the first nine months of 2024. Asset quality remained strong with non-performing assets at just 0.00% of total assets. The bank also expanded its presence by opening a new full-service branch in Mount Airy.

blueharbor bank (BLHK) reported Q2 2024 net income of $1,429,588 ($0.47 per diluted share), down from $1,889,135 ($0.62 per diluted share) in Q2 2023. Key highlights include:

- 11% year-over-year increase in book value
- Net interest margin expansion of 25 basis points to 3.89% over Q1 2024
- 19.5% annualized loan growth in H1 2024
- 15.9% annualized deposit growth in H1 2024
- 27% increase in interest income over Q2 2023
- 9% growth in net interest income over Q2 2023

Total assets reached $463.3 million, up 10% year-over-year. The bank maintained strong asset quality with non-performing assets at 0.01% of total assets. Capital levels remained solid with a total risk-based capital ratio of 14.9%.

blueharbor bank (OTCQX: BLHK) announced a special dividend of $0.20 per share, payable on July 5, 2024, to shareholders of record as of June 27, 2024. President and CEO Jim Marshall highlighted the bank's strong capital and earnings as key factors enabling this dividend. He also hinted at the possibility of future special dividends.

blueharbor bank reported a net income of $1,336,608 and $0.44 per diluted share for the first quarter of 2024, a decrease of 36% compared to the same period in 2023. Total assets and gross loans increased, while capital levels and asset quality remained strong. However, net interest income decreased, with a significant increase in the cost of funds. The bank saw an increase in provision for credit losses and a decrease in noninterest income. Noninterest expenses rose due to higher salaries and employee benefits.