Cboa Financial Stock Price, News & Analysis

CBOA Financial, Inc. (OTCMKTS:CBOF) reported a 34% increase in consolidated net income for Q3 2022, totaling $1 million, up from $747 thousand in Q2. Key highlights include:

• $23 million in new loans funded.
• Interest Income up 15% and Non-Interest Income up 22% quarter-over-quarter.
• Net Interest Margin increased to 4.41%.
• Non-performing assets down 87% year-over-year.
• Total assets rose to $372.4 million, a 2.4% increase.

Shareholders' equity slightly decreased due to unrealized losses on securities.

CBOA Financial, Inc. (CBOF) reported a 19% increase in consolidated net income for Q2 2022, totaling $747,000, compared to $650,000 in Q1 2022. Year-to-date pre-tax income reached $1.89 million, driven by favorable interest rate policies. Key highlights include $42 million in new loans funded, a 9% increase in interest income, and a 33% decrease in interest expense year-over-year. Total assets grew 2.4% to $363.5 million, while non-performing assets decreased 86% year-over-year. However, shareholders' equity fell to $26.6 million.

CBOA Financial, Inc. (OTCMKTS:CBOF) reported a 19% increase in consolidated net income for Q1 2022, totaling $650K, up from $548K in Q4 2021. Pre-tax earnings reached $878K, a 16.3% rise year-over-year. The company funded $32 million in new loans, with non-interest income surging 265% from last quarter, boosted by SBA loan sales. Total assets grew 3% to $354.9 million, while total deposits increased 4.2% to $319 million. However, shareholders' equity fell to $27 million due to unrealized losses, impacting tangible book value, which decreased to $2.89 per share.

CBOA Financial, Inc. (OTCMKTS:CBOF) reported a consolidated net income of $548 thousand for Q4 2021, a 7% increase from $510 thousand in Q3 2021. Total assets rose by 12% to $344.6 million compared to the previous quarter, although yearly assets decreased by 3.1%. New loans funded reached $42 million in the quarter, while non-interest income surged 67% quarter-over-quarter. Non-performing loans fell to a historic low of 0.39% of assets, and earnings per share for 2021 was $0.31.

CBOA Financial, Inc. (OTCMKTS:CBOF) reported a 12% increase in consolidated after-tax net income for Q3 2021, totaling $510,000, compared to $457,000 a year earlier. Notably, the bank achieved $29 million in new loan fundings during the quarter and saw a 67% reduction in nonperforming assets year-over-year. Total assets rose 1% to $340.4 million compared to the previous quarter. Despite a 5.7% decrease in total gross loans, total deposits increased by 0.9% to $303 million.

CBOA Financial, Inc. (OTCMKTS:CBOF) reported a remarkable 223% increase in consolidated after-tax net income for the quarter ending June 30, 2021, totaling $1,277,000 compared to $395,000 in the previous year. The strong performance was supported by a traditional loan growth of $19 million (7%) and significant processing of $27 million in second-round Paycheck Protection Program (PPP) loans. Despite an 8% decrease in total assets to $336.5 million, total asset growth year-over-year remained positive at 7%. Total deposits increased by 12% compared to the prior year, reaching $300 million.

CBOA Financial, Inc. (OTCMKTS:CBOF) reported a 46% increase in consolidated after-tax net income to $543,000 for Q1 2021, up from $371,000 in Q1 2020. Traditional loan growth was $18 million (10%), while nonperforming assets decreased by 16% quarter-over-quarter and 59% year-over-year. Total assets rose 3% to $365.2 million, reflecting organic net deposit growth and PPP loan funding. The bank maintained strong capital ratios exceeding regulatory requirements, showcasing effective capital management and operational strategies.

CBOA Financial, Inc. (OTCMKTS:CBOF) reported a remarkable 373% increase in after-tax net income for Q4 2020, totaling $1.52 million, compared to $457,000 in Q3 2020. The company achieved 8.9% deposit growth and improved its cost of funds by 11 basis points. Despite a 3.9% drop in total loans, total assets rose 7.3% to $355.8 million. Shareholders' equity increased to $25 million. The bank also recorded a negative tax provision expense of $1.9 million, reflecting improved financial results.

CBOA Financial, Inc. (CBOF) reported a 6.5% increase in net income for Q2 2020, reaching $395,000, up from $371,000 in Q1. This growth was supported by significant loan activity related to the SBA's Paycheck Protection Program (PPP) and strong deposit growth of 26%. The Bank's net interest margin stood at 4.51%, despite a 150 basis point rate cut by the Federal Reserve. Total assets rose 29% to $315.2 million, with total gross loans increasing by 38%. However, the Bank reported a negative non-interest income of $460,000 due to writedowns on OREO properties.