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CBTX, Inc. (Nasdaq: CBTX) announced a quarterly cash dividend of $0.10 per share, payable on January 15, 2021, to shareholders on record as of January 4, 2021. This decision reflects the company's ongoing commitment to returning value to its shareholders. CBTX operates CommunityBank of Texas, a bank with $3.8 billion in assets, providing banking solutions to businesses in Texas.
CBTX, Inc. reported net income of $6.4 million or $0.26 per diluted share for Q3 2020, an increase from $2.2 million in Q2 2020 but a decline from $13.1 million in Q3 2019. The provision for credit losses decreased to $4.1 million compared to $9.9 million in Q2 2020, influenced by the pandemic's impact. Loans under COVID-19 deferrals dropped significantly from 689 loans totaling $545 million in Q2 to 41 loans and $82.4 million in Q3. Net interest margin declined to 3.55% from 3.68% in Q2 2020.
CBTX, Inc. (Nasdaq: CBTX) has declared a quarterly cash dividend of $0.10 per share, payable on October 15, 2020, to shareholders of record as of the close of business on October 1, 2020. As a bank holding company for CommunityBank of Texas, N.A., which manages $3.9 billion in assets, CBTX provides commercial banking services to small and mid-sized businesses in Texas. The announcement reflects the company's ongoing commitment to returning value to shareholders amidst various market uncertainties.
CBTX, Inc. (Nasdaq: CBTX) has resumed its share repurchase program, allowing for up to $40 million in stock buybacks from September 30, 2020, to September 30, 2021. The prior program, also for $40 million, was paused in March 2020 due to COVID-19 uncertainties. The repurchase transactions can occur at the Company’s discretion through various methods, depending on market conditions and other factors. This move aims to enhance shareholder value while demonstrating the Company's commitment to its stock and financial health.
CBTX, Inc. reported a net income of $2.2 million ($0.09 per diluted share) for Q2 2020, down from $7.5 million ($0.30 per share) in Q1 2020 and $14.3 million ($0.57 per share) in Q2 2019, primarily due to a $9.9 million provision for credit losses associated with the COVID-19 pandemic and oil industry instability. The company funded $336.1 million in PPP loans and declared a quarterly dividend of $0.10 per share. Total deposits increased to $3.3 billion. Net interest margin decreased to 3.68% from 4.06% in Q1 2020.
CBTX, Inc. (NASDAQ: CBTX) has announced a quarterly conference call to discuss its second quarter 2020 financial results on July 30, 2020, at 8:00 a.m. CT. Investors can access the live webcast on the Company's Investor Relations page, with a recording available later. CBTX, Inc. operates CommunityBank of Texas, N.A., a $3.4 billion asset bank providing commercial banking solutions in Texas.
CBTX, Inc. (Nasdaq: CBTX) announced a quarterly cash dividend of $0.10 per share, payable on July 15, 2020, to shareholders of record by the close of business on July 1, 2020. The company, a bank holding entity for CommunityBank of Texas N.A., holds assets of $3.4 billion and provides commercial banking services in Texas. This announcement is significant for investors seeking income and reflects the company’s ongoing commitment to return value to shareholders despite potential risks, including economic factors and regulatory uncertainties.
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