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) reported a net income of $5.5 million, or $1.38 per share for 2022, up 31% from 2021's $4.2 million. The Q4 2022 net income stood at $1.6 million, or $0.41 per share. Total assets reached $580.8 million, reflecting a 9% annual growth, with a 29% increase in loans, excluding PPP loans. Deposits grew by 6%, driven by a 19% surge in non-interest-bearing deposits. The bank's return on average assets was 1.14%, improving from 0.86% year-over-year. Management expressed optimism in navigating future market opportunities.
Commencement Bank (OTCQX:CBWA) has announced the addition of a new commercial banking team, comprising James Miller as Senior VP, David Evans as VP, and Amanda Bowes as Assistant VP. With over 45 years of combined experience, this team is expected to enhance the Bank's local presence in Tacoma. Miller emphasizes a customer-focused approach that sets Commencement apart, while Evans and Bowes bring significant industry expertise to the table. CEO John Manolides stated that this team will support the Bank's growth and community involvement initiatives. The new hires began their roles in January 2023.
FAQ
What is the current stock price of Commencement Bancorp (CBWA)?
What is the market cap of Commencement Bancorp (CBWA)?
