Coeur d’Alene Bancorp Announces Its Second Quarter and Year to Date 2022 Results
Coeur d'Alene Bancorp (OTC PINK:CDAB), the Parent Company of bankcda, Is Pleased To Announce Its Results for the Second Quarter 2022 and Year to Date 2022.
COEUR D'ALENE, ID / ACCESSWIRE / July 15, 2022 / Coeur d'Alene Bancorp today reported net income for the second quarter of
As of June 30, 2022, total consolidated assets were
"We were able to benefit during the second quarter from rising rates due to our strong liquidity position and core deposit base. Net income for the quarter was
Financial Highlights:
- Earnings per share of
$0.34 for the six months ended 2022, versus$0.49 per share for the six months ended 2021. - Book value per share decreased to
$9.13 compared to$11.28 from one year ago. - Annualized return on average assets (ROAA) was
0.65% for second quarter 2022, compared to0.74% for second quarter 2021; and0.51% for the six months ended 2022 compared to0.88% for the six months ended 2021. - Annualized return on average equity (ROAE) was
6.75% for the six months ended 2022, compared8.88% for the six months ended 2021. - Total assets ended the period at
$251.2 million , compared to$235.2 million one year ago and$252.4 million as of March 31, 2022. - Total deposits were
$228.9 million versus$207.3 million on June 30, 2021, and$228.1 million on March 31, 2022. - All capital ratios continue to exceed regulatory minimums.
- Continue to be FIVE Star-rated from Bauer Financial, which is their highest rating.
Coeur d'Alene Bancorp, parent company of bankcda, is headquartered in Coeur d'Alene, Idaho with branches in Coeur d'Alene, Hayden, Post Falls and Kellogg, Idaho.
For more information, visit www.bankcda.bank or contact Wes Veach at 208-415-5006.
Balance Sheet Overview | ||||||||||||
(Unaudited) | ||||||||||||
Jun 30, 2022 | Jun 30, 2021 | Mar 31, 2022 | ||||||||||
Assets: | ||||||||||||
Cash and due from banks | $ | 41,883,707 | $ | 68,757,235 | $ | 59,476,200 | ||||||
Securities available for sale, at fair value | 104,527,719 | 71,066,717 | 98,494,866 | |||||||||
Net loans | 94,652,225 | 85,441,816 | 84,534,247 | |||||||||
Other assets | 10,104,680 | 9,978,090 | 9,859,765 | |||||||||
Total assets | $ | 251,168,332 | $ | 235,243,858 | $ | 252,365,078 | ||||||
Liabilities and Shareholders' Equity: | ||||||||||||
Total deposits | $ | 228,889,682 | $ | 207,287,575 | $ | 228,096,801 | ||||||
Borrowings | 204,515 | 267,015 | 220,140 | |||||||||
Capital lease liability | 455,993 | 526,697 | 473,802 | |||||||||
Other liabilities | 4,347,959 | 929,796 | 4,869,989 | |||||||||
Shareholders' Equity | 17,270,182 | 26,232,776 | 18,704,346 | |||||||||
Total liabilities and shareholders' equity | $ | 251,168,332 | $ | 235,243,858 | $ | 252,365,078 | ||||||
Ratios: | ||||||||||||
Return on average assets | 0.51 | % | 0.88 | % | 0.37 | % | ||||||
Return on average equity | 6.75 | % | 8.88 | % | 4.54 | % | ||||||
Community bank leverage ratio (1) | 10.06 | % | 10.92 | % | 10.05 | % | ||||||
Community bank leverage ratio | 8.46 | % | 9.18 | % | 8.44 | % | ||||||
Net interest margin (YTD) (1) | 2.37 | % | 2.54 | % | 2.23 | % | ||||||
Net interest margin without PPP (YTD) (1) | 2.38 | % | 2.62 | % | 2.23 | % | ||||||
Efficiency ratio (YTD) (1) | 70.57 | % | 66.10 | % | 76.80 | % | ||||||
Nonperforming assets to tier 1 capital (1) | 0.51 | % | 0.96 | % | 0.63 | % | ||||||
Nonperforming assets to total assets | 0.05 | % | 0.10 | % | 0.06 | % | ||||||
Nonperforming assets to tier 1 capital | 0.60 | % | 1.14 | % | 0.75 | % | ||||||
(1) Denotes bank-only ratios |
Income Statement Overview | |||||||||||||
(Unaudited) | |||||||||||||
For the three months ended | For the six months ended | ||||||||||||
Jun 30, 2022 | Jun 30, 2021 | Jun 30, 2022 | Jun 30, 2021 | ||||||||||
Interest income | $ | 1,624,914 | $ | 1,344,884 | $ | 3,023,389 | $ | 2,625,617 | |||||
Interest expense | 118,414 | 55,833 | 234,407 | 111,676 | |||||||||
Net interest income | 1,506,500 | 1,289,050 | 2,788,982 | 2,513,941 | |||||||||
Loan loss provision | - | - | - | - | |||||||||
Noninterest income | 225,952 | 354,745 | 457,916 | 914,598 | |||||||||
Salaries and employee benefits | 610,036 | 585,800 | 1,264,652 | 1,179,305 | |||||||||
Occupancy expense | 147,568 | 135,962 | 303,632 | 275,902 | |||||||||
Other noninterest expense | 425,608 | 391,220 | 833,473 | 772,212 | |||||||||
Income before income taxes | 549,240 | 530,814 | 845,141 | 1,201,119 | |||||||||
Income tax expense | 135,723 | 121,901 | 200,369 | 272,690 | |||||||||
Net income | $ | 413,517 | $ | 408,913 | $ | 644,772 | $ | 928,429 | |||||
SOURCE: Coeur D Alene Bancorp
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