CW Bancorp Reports First Quarter 2025 Financial Results
Forti indicatori di crescita:
• Crescita dei prestiti del 12% a 802,2 milioni di dollari
• Crescita dei depositi del 5% a 1 miliardo di dollari
• Crescita del reddito netto da interessi del 10%
• Margine di interesse netto migliorato al 3,87%
Solida posizione finanziaria:
• Totale attività aumentato del 5% a 1,15 miliardi di dollari
• Forti rapporti patrimoniali con un rapporto di leva Tier 1 del 12,35%
• Mantenuto un accantonamento per perdite su crediti dell'1,42%
• 61 trimestri consecutivi di profitti
• I depositi senza interessi rappresentano il 59% del totale depositi
Sólidos indicadores de crecimiento:
• Crecimiento de préstamos del 12% hasta 802,2 millones de dólares
• Crecimiento de depósitos del 5% hasta 1.000 millones de dólares
• Crecimiento del ingreso neto por intereses del 10%
• Margen neto de intereses mejorado al 3,87%
Posición financiera sólida:
• Total de activos aumentó un 5% hasta 1,15 mil millones de dólares
• Fuertes ratios de capital con un ratio de apalancamiento Tier 1 del 12,35%
• Mantenimiento de una provisión para pérdidas crediticias del 1,42%
• 61 trimestres consecutivos de rentabilidad
• Los depósitos sin intereses representan el 59% del total de depósitos
강력한 성장 지표:
• 대출 12% 증가하여 8억 2,220만 달러
• 예금 5% 증가하여 10억 달러
• 순이자수익 10% 증가
• 순이자마진 3.87%로 개선
견고한 재무 상태:
• 총자산 5% 증가하여 11억 5천만 달러
• 12.35%의 Tier 1 레버리지 비율로 강한 자본 비율 유지
• 신용손실충당금 1.42% 유지
• 61분기 연속 흑자
• 비이자부예금이 전체 예금의 59% 차지
Forte croissance :
• Croissance des prêts de 12 % à 802,2 millions de dollars
• Croissance des dépôts de 5 % à 1 milliard de dollars
• Croissance du revenu net d’intérêts de 10 %
• Amélioration de la marge nette d’intérêts à 3,87 %
Position financière solide :
• Actifs totaux en hausse de 5 % à 1,15 milliard de dollars
• Ratios de capital solides avec un ratio de levier Tier 1 de 12,35 %
• Maintien d’une provision pour pertes sur crédits de 1,42 %
• 61 trimestres consécutifs bénéficiaires
• Les dépôts sans intérêt représentent 59 % du total des dépôts
Starke Wachstumskennzahlen:
• Kreditwachstum um 12 % auf 802,2 Millionen US-Dollar
• Einlagenwachstum um 5 % auf 1 Milliarde US-Dollar
• Nettzinsüberschusswachstum um 10 %
• Nettomarge verbesserte sich auf 3,87 %
Solide Finanzlage:
• Gesamtvermögen stieg um 5 % auf 1,15 Milliarden US-Dollar
• Starke Kapitalquoten mit einer Tier-1-Leverage-Ratio von 12,35 %
• Aufrechterhaltung der Kreditverlustrückstellung von 1,42 %
• 61 aufeinanderfolgende profitable Quartale
• Nicht verzinsliche Einlagen machen 59 % der Gesamteinlagen aus
- 12% year-over-year loan growth showing strong business expansion
- 10% increase in net interest income
- Net interest margin improved from 3.79% to 3.87%
- Strong capital position with 12.35% tier 1 leverage ratio
- 61 consecutive quarters of profitability
- High proportion (59%) of non-interest-bearing deposits
- Non-interest expense increased 16% year-over-year
- Efficiency ratio deteriorated from 59.42% to 63.22%
- Return on Assets declined from 1.18% to 1.07%
- Return on Equity decreased from 15.13% to 13.66%
- Nonperforming assets increased from $4.6M to $7.2M
Key Financial Results for the three months ended March 31, 2025:
- EPS of
$0.97 - Return on Assets of
1.07% - Return on Tangible Equity of
14.16% - Net interest income growth of
10% - Quarter over quarter loan growth of
12% - Quarter over quarter deposit growth of
5% - ACL to total loans ratio of
1.42% - Liquid funds to total deposits ratio of
13% - No outstanding FRB or FHLB borrowings
- Non-interest-bearing deposits to total deposits of
59% - Leverage ratio of
12.35% and total risk-based capital ratio of18.01% - 61 quarters of consecutive profits
Mr. Ivo A. Tjan, Chairman and CEO commented, "The Company delivered solid financial results for the quarter, highlighted by double digit loan and net interest income growth. At the same time, we maintained a strong allowance for credit losses at
Total asset increased
Total deposits increased
Interest income was
Net interest income for the three months ended March 31, 2025, was
Provision for credit losses were zero for the three months ended March 31, 2025 and March 31, 2024.
Non-interest income for the three months ended March 31, 2025, was
Non-interest expense for the three months ended March 31, 2025, was
The efficiency ratio for the three months ended March 31, 2025, was
Capital ratio for the Bank remain above the level required for a "well capitalized" institution as designated by regulatory agencies. As of March 31, 2025, the tier 1 leverage ratio was
CommerceWest Bank is determined to redefine banking for small and medium sized businesses by delivering on customized products and services. Founded in 2001 and headquartered in
Mission Statement: CommerceWest Bank will create a complete banking experience for each client, catering to businesses and their specific banking needs, while accommodating our clients and providing them high-quality, low stress and personally tailored banking and financial services.
Please visit www.cwbk.com to learn more about the bank. "BANK ON THE DIFFERENCE"
Statements concerning future performance, developments or events, expectations for growth and income forecasts, and any other guidance on future periods, constitute forward-looking statements that are subject to a number of risks and uncertainties. Actual results may differ materially from stated expectations. Specific factors include, but are not limited to, loan production, balance sheet management, expanded net interest margin, the ability to control costs and expenses, interest rate changes, financial policies of
FIRST QUARTER REPORT - March 31, 2025 (Unaudited) | ||||||||
CW BANCORP | % | |||||||
CONSOLIDATED BALANCE SHEET | Increase | |||||||
(dollars in thousands) | March 31, 2025 | March 31, 2024 | (Decrease) | |||||
ASSETS | ||||||||
Cash and due from banks | $ 159,966 | $ 203,263 | -21 % | |||||
Securities available for sale | 135,157 | 110,661 | 22 % | |||||
Securities held to maturity | 26,556 | 41,577 | -36 % | |||||
Loans | 802,181 | 717,692 | 12 % | |||||
Less allowance for credit losses (ACL) | (11,355) | (11,562) | -2 % | |||||
Loans, net | 790,826 | 706,130 | 12 % | |||||
Bank premises and equipment, net | 3,324 | 4,199 | -21 % | |||||
Other assets | 35,778 | 33,988 | 5 % | |||||
Total assets | $ 1,151,607 | $ 1,099,818 | 5 % | |||||
LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||
Non-interest bearing deposits | $ 587,167 | $ 587,354 | 0 % | |||||
Interest bearing deposits | 414,900 | 370,210 | 12 % | |||||
Total deposits | 1,002,067 | 957,564 | 5 % | |||||
Subordinated debenture | 50,000 | 50,000 | 0 % | |||||
Other liabilities | 12,141 | 13,285 | -9 % | |||||
1,064,208 | 1,020,849 | 4 % | ||||||
Stockholders' equity | 87,399 | 78,969 | 11 % | |||||
Total liabilities and stockholders' equity | $ 1,151,607 | $ 1,099,818 | 5 % | |||||
Shares outstanding at end of period | 2,983,223 | 3,049,831 | ||||||
Book value per share | $ 32.46 | $ 29.12 | ||||||
Total loans to total deposits | 80.05 % | 74.95 % | ||||||
ACL to total loans | 1.42 % | 1.61 % | ||||||
Nonperforming assets (non-accrual loans & OREO) | $ 7,251 | $ 4,648 | ||||||
COMMERCEWEST BANK CAPITAL RATIOS: | ||||||||
Tier 1 leverage ratio | 12.35 % | 12.58 % | ||||||
Common equity tier 1 capital ratio | 16.76 % | 18.74 % | ||||||
Tier 1 risk-based capital ratio | 16.76 % | 18.74 % | ||||||
Total risk-based capital ratio | 18.01 % | 19.99 % | ||||||
CW BANCORP | |||||||||
CONSOLIDATED STATEMENT OF INCOME (Unaudited) | Three Months Ended | Increase | |||||||
(dollars in thousands except share and per share data) | March 31, 2025 | March 31, 2024 | (Decrease) | ||||||
INTEREST INCOME | |||||||||
Loans | $ 10,981 | $ 9,809 | 12 % | ||||||
Investment securities | 1,338 | 1,117 | 20 % | ||||||
Fed funds sold and other | 1,118 | 1,316 | -15 % | ||||||
Total interest income | 13,437 | 12,242 | 10 % | ||||||
INTEREST EXPENSE | |||||||||
Deposits | 2,924 | 2,645 | 11 % | ||||||
Subordinated debenture | 469 | 469 | 0 % | ||||||
Total interest expense | 3,393 | 3,114 | 9 % | ||||||
NET INTEREST INCOME BEFORE CREDIT LOSS PROVISION | 10,044 | 9,128 | 10 % | ||||||
PROVISION FOR CREDIT LOSSES | - | - | - | ||||||
NET INTEREST INCOME AFTER CREDIT LOSS PROVISION | 10,044 | 9,128 | 10 % | ||||||
NON-INTEREST INCOME | |||||||||
Service Charges and Fees on Deposits | 1,029 | 905 | 14 % | ||||||
Other Fees | 216 | 303 | -29 % | ||||||
NON-INTEREST EXPENSE | 7,175 | 6,177 | 16 % | ||||||
EARNINGS BEFORE INCOME TAXES | 4,114 | 4,159 | -1 % | ||||||
INCOME TAXES | 1,179 | 1,166 | 1 % | ||||||
NET INCOME | $ 2,935 | $ 2,993 | -2 % | ||||||
Basic earnings per share | $ 0.98 | $ 0.97 | 1 % | ||||||
Diluted earnings per share | $ 0.97 | $ 0.96 | 1 % | ||||||
Return on Assets | 1.07 % | 1.18 % | -9 % | ||||||
Return on Equity | 13.66 % | 15.13 % | -10 % | ||||||
Return on Tangible Equity | 14.16 % | 15.74 % | -10 % | ||||||
Efficiency Ratio | 63.22 % | 59.42 % | 6 % | ||||||
CW BANCORP | ||||||||||||
CONSOLIDATED AVERAGE BALANCE SHEET and YIELD ANALYSIS | ||||||||||||
Three Months Ended March 31, | ||||||||||||
2025 | 2024 | |||||||||||
Average | Interest | Yield / | Average | Interest | Yield / | |||||||
(dollars in thousands) | ||||||||||||
INTEREST EARNING ASSETS | ||||||||||||
Int Bearing Due from Banks & FFS | $ 89,519 | $ 981 | 4.44 % | $ 86,162 | $ 1,168 | 5.45 % | ||||||
Investment Securities (1) | 165,486 | 1,396 | 3.42 % | 160,397 | 1,177 | 2.95 % | ||||||
Loans | 796,856 | 10,981 | 5.59 % | 721,270 | 9,809 | 5.47 % | ||||||
FHLB & Other Stocks | 7,100 | 138 | 7.88 % | 7,100 | 147 | 8.33 % | ||||||
Total interest-earning assets | 1,058,961 | 13,496 | 5.17 % | 974,929 | 12,301 | 5.07 % | ||||||
Noninterest-earning assets | 50,612 | 48,985 | ||||||||||
Total assets | $ 1,109,573 | $ 1,023,914 | ||||||||||
INTEREST EARNING LIABILITIES | ||||||||||||
Interest Bearing Deposits | $ 409,640 | $ 2,924 | 2.89 % | 338,731 | 2,645 | 3.14 % | ||||||
Subordinated Debenture | 50,000 | 469 | 3.75 % | 50,000 | 469 | 3.75 % | ||||||
Total interest-earning liabilities | 459,640 | 3,393 | 2.99 % | 388,731 | 3,114 | 3.22 % | ||||||
Noninterest-earning liabilities | ||||||||||||
Demand Deposits | 549,970 | 541,533 | ||||||||||
Other Liabilities | 12,828 | 14,107 | ||||||||||
Shareholders' Equity | 87,135 | 79,543 | ||||||||||
Total liabilities and shareholder's equity | $ 1,109,573 | $ 1,023,914 | ||||||||||
Net Interest Spread | $ 10,103 | 2.18 % | $ 9,187 | 1.85 % | ||||||||
Net Interest Margin | 3.87 % | 3.79 % | ||||||||||
Total Deposits | $ 959,610 | $ 2,924 | 1.24 % | $ 880,264 | $ 2,645 | 1.21 % | ||||||
Total Funding Costs | $ 1,009,610 | $ 3,393 | 1.36 % | $ 930,264 | $ 3,114 | 1.35 % | ||||||
(1) Amounts calculated on a fully taxable equivalent basis using the current statutory federal tax rate | ||||||||||||
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SOURCE CW Bancorp
FAQ
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