Welcome to our dedicated page for Blueharbor Bk news (Ticker: BLHK), a resource for investors and traders seeking the latest updates and insights on Blueharbor Bk stock.
blueharbor bank (OTCQX: BLHK) is a commercial bank headquartered in Mooresville, North Carolina, with branches in Statesville and Mount Airy and loan production offices in Belmont and Hickory, as described in its earnings releases. This news page aggregates the bank’s publicly released updates, giving readers a single place to review its reported financial performance and corporate actions.
The bank’s news flow centers on quarterly and annual earnings announcements, which provide details on net income, diluted earnings per share, net interest income, noninterest income, noninterest expense, and key performance ratios such as return on average assets (ROA), return on average equity (ROE), net interest margin, efficiency ratio, and overhead ratio. These releases also discuss trends in total assets, gross loans, total deposits, shareholders’ equity, and book value per share.
In addition to earnings, blueharbor bank issues press releases about special cash dividends declared by its Board of Directors, including the per-share amount, record date, and payment date. Some releases also describe developments such as the opening of a full-service branch in Mount Airy, changes in core software providers affecting data processing expenses, and regulatory approval for a share repurchase program.
Investors and observers can use this news page to review how blueharbor bank presents its asset quality, including nonperforming assets to total assets ratios, and its capital position through total risk-based capital and related measures. For ongoing monitoring of BLHK, this page offers a chronological view of the bank’s reported results, dividends, and other notable announcements drawn directly from its press releases.
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.
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blueharbor bank reported a robust net income of $2,092,487, or $0.69 per diluted share, for Q1 2023, marking a 65% increase from $1,266,733 ($0.42 per share) in Q1 2022. The bank's total assets surged to $415.6 million as of March 31, 2023, up $9.2 million from the previous quarter. Gross loans rose to $339.1 million, and deposits increased to $365.1 million, reflecting a stable growth in core deposits. Asset quality remained high, with non-performing assets at just 0.02%. Capital ratios are solid, including a total risk-based capital ratio of 14.7%. The annualized return on average assets (ROA) improved to 2.08%, while return on equity (ROE) reached 19.40%. Net interest income rose by 38% year-over-year, and noninterest income saw a slight increase, showing positive growth despite higher expenses attributed to the new Statesville branch.
blueharbor bank reported a net income of $2,046,022 and $0.68 per diluted share for Q4 2022, marking a 66% increase year-over-year.
For 2022, net income reached $6,903,187, a 43% growth from 2021. Total assets dipped to $406.4 million, while gross loans surged by 17% to $335.5 million.
Despite a 2% decrease in total deposits, noninterest-bearing deposits rose by 13%. The bank's asset quality remained strong, with non-performing assets at 0.02% of total assets.
Net interest income increased by 40% for Q4 and 33% for the year.
blueharbor bank reported a net income of $1,992,441 ($0.66 per diluted share) for Q3 2022, a 45% increase from Q3 2021. Year-to-date, net income reached $4,857,165 ($1.60 per diluted share), up 35%. Total assets grew to $418.6 million, and gross loans increased by $37.5 million to $323.8 million. Non-performing assets comprised only 0.02% of total assets, with strong capital levels reported. Net interest income rose 31% to $3,844,390, while noninterest income increased to $677,684. However, noninterest expenses also grew by 10% year-over-year.