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.
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.
Commencement Bancorp, Inc. (OTCQX:CBWA) reported a net income of $983 thousand, or $0.24 per share, for Q1 2022, down from $1.6 million, or $0.38 per share, in Q1 2021. Total assets reached $550 million, a decrease from $579 million a year prior. Core loans grew by 9% annualized, while total deposits increased by 19% annualized to $22.4 million. The company noted a 50% decrease in time deposits and a stable 0.5% nonperforming assets ratio. Management anticipates growth opportunities amid rising interest rates.
Commencement Bank (OTCQX:CBWA) has appointed Nigel L. English as the new President and Chief Operating Officer. With over 30 years in the banking sector and a previous role as commercial banking market president at Heritage Bank, English will leverage his expertise to enhance the bank's growth initiatives. His focus on building client relationships aligns with Commencement's growth strategy. English officially started on March 29, 2022, and will work alongside John Manolides, CEO, to strengthen their market position.
Commencement Bancorp, Inc. (OTCQX:CBWA) reported a net income of $4.2 million for 2021, up from $4.0 million in 2020, with earnings per share at $1.00. Total assets rose by 1% to $531.3 million, and deposits remained stable at $472 million. The company's return on average assets was 0.75%, with a nonperforming assets ratio of 0.53%. Despite a 17% drop in total loans due to PPP forgiveness, net interest income increased by 8%. A second stock repurchase plan was approved to enhance shareholder value.
Commencement Bank (OTCQX:CBWA) announced the promotions of Jerald Kennedy to Senior Vice President, Chief Information Officer, and Rick Larson to Executive Vice President, Chief Credit Officer. Kennedy has been with the bank for eight years, while Larson has managed credit risk for four years. President and CEO John Manolides praised their contributions to the bank’s growth and risk management. Commencement Bank focuses on providing reliable banking services in Tacoma and surrounding areas, emphasizing community commitment and technological solutions.
Commencement Bancorp, Inc. (OTCQX:CBWA) has initiated a stock repurchase program effective November 15, 2021, set to last until November 14, 2022. This program allows for the repurchase of shares through open market or private transactions, adhering to SEC regulations. The number of shares repurchased will depend on various factors including market conditions and trading plans. The program aims to enhance shareholder value, demonstrating confidence in the company's financial health. For further details, visit Commencement Bank.
Commencement Bancorp, Inc. (OTCQX:CBWA) reported a net income of $1.46 million or $0.35 per share for Q3 2021, a rise from $1.21 million in Q3 2020. Total assets increased by 7% to $548 million, while total loans decreased by 17% to $352.4 million due to PPP loan forgiveness. Deposits grew by 7% to $33.5 million, with a notable improvement in the deposit mix. Net interest income rose by 18% to $4.4 million, and interest expense decreased to 0.26%. The tangible book value per share rose to $12.73.
Commencement Bancorp, Inc. (CBWA) reported a quarterly net loss of $62,000 for Q2 2021, attributed to a $2.4 million provision for loan losses related to one defaulted credit. Despite this, total assets increased by $13.3 million to $561.8 million year-over-year, while core loan growth rose 9% to $326.9 million. Notably, interest income exceeded $5 million for the second consecutive quarter, up 15% from the previous year. Tangible book value per share also grew to $12.27. However, total loans decreased by 7% due to the forgiveness of PPP loans.
Commencement Bancorp, Inc. (CBWA) reported a robust financial performance for Q1 2021, achieving a net income of $1.6 million, or $0.38 per share. This marks a significant increase from $947 thousand or $0.23 per share in Q1 2020. Total assets rose by 46% to $579.1 million, while total loans surged 36% to $415.8 million. Total deposits jumped 53% to $519.2 million. The Bank maintained a stable nonperforming assets ratio at 0.5%, showcasing strong asset quality amidst economic recovery.
Commencement Bancorp, Inc. (OTCQX:CBWA) announced a stock repurchase program effective from November 2, 2020, to November 1, 2021. The program permits repurchases of shares in open market or private transactions, adhering to SEC regulations and specified constraints. The specific timing, number, and value of repurchased shares will depend on various factors, including market conditions and investment opportunities. This initiative aims to enhance shareholder value and reflects the company's commitment to a sustainable banking approach in Pierce, King, and Thurston counties.
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