Blueharbor Bk Stock Price, News & Analysis

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.

blueharbor bank reported a significant net income of $1,597,991 for Q2 2022, marking a 50% increase compared to Q2 2021. For the first half of 2022, net income reached $2,864,724, up 29% year-over-year. Total assets expanded to $423.1 million, reflecting a 3% increase since year-end 2021. Gross loans also rose to $311.4 million, revealing an 18% increase from June 2021. Despite a rise in noninterest expense to $1,941,414, the bank remains capitalized with total risk-based capital at 13.6%.

blueharbor bank (OTC-PINK: BLHK) reported a net income of $1,266,733 ($0.42 per diluted share) for Q1 2022, up 9% from $1,157,275 ($0.38) in Q1 2021. The bank's total assets reached $443.4 million, rising 8% from $410.8 million. Gross loans increased to $301.4 million, with organic loan growth at 24%. Total deposits also grew by 9% to $399.4 million. Despite strong asset quality and solid capital levels, the bank noted potential challenges due to inflation and rising interest rates.

blueharbor bank reported a net income of $1,232,123 or $0.41 per diluted share for Q4 2021, up 19% from $1,036,335 in Q4 2020. Full-year net income rose 45% to $4,829,549, or $1.60 per share. Total assets increased 27% to $410.8 million, while loans grew 20% to $286.3 million. Non-performing assets dropped to 0.02% of total assets. However, noninterest expenses also rose by 25% for the quarter.