Welcome to our dedicated page for Commencement Bancorp news (Ticker: CBWA), a resource for investors and traders seeking the latest updates and insights on Commencement Bancorp stock.
Commencement Bancorp Inc (CBWA) delivers community-focused banking services through personalized financial solutions and disciplined risk management. This news hub provides investors and stakeholders with timely updates on the company’s strategic initiatives and financial performance.
Access authoritative reporting on CBWA’s deposit growth strategies, loan portfolio developments, and interest rate risk mitigation efforts. Our curated collection features earnings announcements, leadership updates, and operational milestones that reflect the bank’s commitment to sustainable community banking.
Key coverage areas include quarterly financial results, asset management decisions, regulatory compliance updates, and local economic impact initiatives. Bookmark this page for convenient access to CBWA’s latest press releases and market communications, ensuring you stay informed about this regional banking institution’s evolving strategies.
Commencement Bancorp, Inc. (OTCQX:CBWA) and Commencement Bank have announced two key appointments to their finance team. Brandi Parker has joined as Executive Vice President and Chief Financial Officer, while Mandie Ereth has been appointed as Senior Vice President and Finance & Accounting Manager. Both executives, who previously worked at Heritage Bank, started their new roles on July 29th and 30th, 2024, respectively.
Parker brings over 20 years of finance and accounting experience, with expertise in SEC filings, budgeting, financial forecasting, and asset liability management. Ereth has 20 years of experience in bank accounting and finance, specializing in financial statements, asset liability management, and profitability modeling. Both are Certified Public Accountants with master's degrees in accounting.
CEO John E. Manolides expressed enthusiasm about the new hires, highlighting their potential to create efficiencies, analyze data, and enhance reporting processes at Commencement Bank.
Commencement Bancorp, Inc. (CBWA) reported their 2024 First Quarter Earnings, showcasing positive financial highlights such as an increase in total loans, interest income, non-interest income, and tangible book value per share. The Bank also eliminated borrowed funds and brokered certificates of deposit, reduced nonperforming assets, and saw a rise in total assets and total deposits. However, the Bank recorded a 13% increase in non-interest expenses, with an extraordinary expense for legal fees and a reverse provision from the Allowance for Credit Losses. Despite challenges, the Bank maintains strong capital ratios, improved asset quality, and a positive outlook for future growth.
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