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) is the holding company for Commencement Bank, a Tacoma, Washington-based community bank formed in 2006 to provide traditional, reliable, and sustainable banking in Pierce, King, Kitsap, Thurston, and South King counties and the surrounding areas. The CBWA news feed highlights how this regional commercial bank executes its community banking model and manages growth in its Washington state footprint.
News about Commencement Bancorp, Inc. frequently covers quarterly and annual financial results, including trends in net income, loan receivable growth, deposit growth, net interest margin, and capital ratios. The company often reports that capital ratios are well above regulatory requirements and has highlighted periods with no nonperforming assets, along with details on credit quality, liquidity, and funding sources.
Investors and community banking observers can also follow announcements on strategic actions such as stock repurchase programs, balance sheet repositioning, interest rate swaps, and restructuring of investment securities and bank-owned life insurance portfolios. Releases describe how these measures relate to long-term objectives, deposit costs, loan yields, and overall profitability.
In addition, the CBWA news stream features updates on branch expansion, market development in areas like South King County and Gig Harbor, and recognition such as inclusion on the OTCQX Best 50 list and being named one of America’s Best Regional Banks & Credit Unions for 2026 by Newsweek and Plant-A Insights Group. Leadership and governance developments, including appointments to industry boards, also appear in company communications. For readers tracking a regional community bank with a stated focus on local economies and relationship-based banking, this page provides an organized view of Commencement Bancorp, Inc. news over time.
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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.
Commencement Bancorp, Inc. (OTCQX:CBWA) reported a record net income of $1.8 million for the third quarter of 2022, up 22% year-over-year. Earnings per share reached $0.45, representing a 63% increase from the previous quarter. Total assets amounted to $554 million, while loans grew by 13%, totaling $395.8 million. Non-interest income rose due to a non-recurring BOLI payout. The bank's return on average assets improved to 1.24%, supported by a strong net interest margin of 3.68%. However, expenses increased due to staffing for operational needs.
Commencement Bancorp, Inc. (OTCQX:CBWA) has announced a stock repurchase program effective from June 15, 2022 to June 14, 2023. This program allows for the repurchase of shares through various methods including open market transactions and block trades, adhering to SEC regulations. The number and value of repurchased shares will depend on market conditions and specific constraints outlined in the trading plans. This strategic move aims to enhance shareholder value.
Commencement Bancorp, Inc. (OTCQX:CBWA) has appointed Nigel L. English, the Bank's President and COO, to its board of directors. This strategic move aims to enhance the bank's management team amid current CEO John Manolides' succession planning. Hal Russell, Chairman of the Board, emphasized English's critical role in the bank's growth strategy. Commencement Bank, established in 2006, is dedicated to providing reliable banking services in Washington state, focusing on customer relationships and leveraging modern technology.
Commencement Bancorp, Inc. (CBWA) has successfully completed its stock repurchase plan, aimed at acquiring a limited number of shares of the company's common stock. The initiative concluded before its scheduled expiration of November 14, 2022, with all authorized shares repurchased. This strategic move may enhance shareholder value and reflects the company's confidence in its market position.
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