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ENDEAVOR BANCORP - $EDVR STOCK NEWS

Welcome to our dedicated page for ENDEAVOR BANCORP news (Ticker: $EDVR), a resource for investors and traders seeking the latest updates and insights on ENDEAVOR BANCORP stock.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect ENDEAVOR BANCORP's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of ENDEAVOR BANCORP's position in the market.

Rhea-AI Summary

Endeavor Bancorp, the holding company for Endeavor Bank, has declared a 2% stock dividend to be distributed on May 20, 2024, to shareholders of record on May 10, 2024. Shareholders will receive two additional shares of common stock for every 100 shares currently owned. The stock dividend aims to build shareholder value and increase trading liquidity. Endeavor Bancorp focuses on local businesses in Southern California and operates across multiple locations.

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Endeavor Bancorp reported net income of $407,000 for the first quarter of 2024, with a provision for credit losses due to projected loan growth. The company's core pretax earnings decreased, impacted by higher costs from expansion. Despite this, net interest margin expanded, and loan growth remained solid, with a focus on high-quality credits and disciplined pricing. Total assets decreased slightly, while total loans outstanding and shareholders' equity increased. The company raised capital through subordinated notes to support strategic expansion into new markets. The Bank's capital ratios improved significantly, exceeding regulatory minimums.
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Endeavor Bancorp (EDVR) completes $12.5 million subordinated notes issuance to support strategic expansion into the greater Los Angeles and Inland Empire markets. The notes qualify as Tier 2 capital at the holding company and will be down streamed to the Bank as Tier 1 capital. The Company plans to use the net proceeds for general corporate purposes and expansion efforts. Performance Trust Capital Partners, LLC acted as placement agent.
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Endeavor Bancorp (EDVR) reported a decrease in net income for the fourth quarter of 2023 compared to the third quarter, but an increase compared to the same period in 2022. Core earnings for the year ending December 31, 2023, saw a significant increase of 34.7% compared to 2022. The company's net interest margin decreased, and total assets increased by 3.0% during the fourth quarter to $570.2 million at December 31, 2023. Total loans outstanding and total deposits also increased during the same period.
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Endeavor Bancorp announces net income of $1.22 million for Q3 2023, up from $900,000 in Q2 2023 but down from $1.28 million in Q3 2022. Core pretax earnings increase by 24.0% YoY. Net interest margin decreases to 3.77% in Q3 2023. Total assets increase by $4.7 million to $553.9 million. Net loans increase by 3.7% in Q3 2023. Total deposits increase by $3.5 million to $492.7 million.
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ENDEAVOR BANCORP

OTC:EDVR

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35.48M
Banks - Regional
Financial Services
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United States of America
San Diego