Welcome to our dedicated page for ENDEAVOR BK news (Ticker: EDVR), a resource for investors and traders seeking the latest updates and insights on ENDEAVOR BK stock.
Endeavor Bancorp (OTCQX: EDVR) is the holding company for Endeavor Bank, a community business bank focused on Southern California businesses and their owners. The company regularly issues detailed financial updates and corporate announcements, making EDVR news an important resource for investors and local business stakeholders who follow regional banks and community banking trends.
News about Endeavor Bancorp frequently covers quarterly and annual financial results, including net income, net interest income, net interest margin, provisions for credit losses, loan and deposit growth, and capital ratios. Management commentary in these releases often explains how interest rate changes, deposit competition, and loan portfolio dynamics affect earnings and profitability, providing context for the bank’s performance over time.
Investors can also find corporate actions and strategic updates in EDVR news, such as stock dividend declarations and information about the company’s trading status on the OTCQX Best Market. The bank has highlighted its use of reciprocal deposit placement networks, wholesale funding, and balance sheet strategies, which are described in its public communications and earnings releases.
Another key theme in Endeavor Bancorp’s news flow is community and franchise development. The company has announced new office openings, such as its La Mesa regional office serving East County communities, and has reported on board appointments that bring additional business and community expertise to its governance. Endeavor Bank also publicizes third-party recognitions, including ratings from Bauer Financial, DepositAccounts.com, and rankings from CB Resource’s CB Top Ten report.
For readers tracking EDVR, this news page aggregates these updates in one place, helping users follow Endeavor Bancorp’s financial performance, capital actions, community expansion, and strategic priorities as disclosed in its public announcements.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Endeavor Bancorp (OTCQX: EDVR) reported a net income of $899,000 for Q1 2023, up from $764,000 in Q4 2022 and $299,000 in Q1 2022. The Q1 results included a $291,500 provision for credit losses, significantly lower than the preceding quarter's $740,000. Total assets increased by 8.0% to $516.0 million, while total loans (excluding PPP loans) decreased 1.0%. The bank's liquidity remains stable, holding over $130.25 million in cash. Core pretax earnings were $1.58 million, down from $1.80 million in Q4 2022. Annualized return on average equity rose to 9.35%, and net interest margin decreased to 3.82%.
Endeavor Bank plans to grow its loan portfolio by $50 million over the next two quarters, while also addressing higher funding costs and non-interest expenses.
Endeavor Bancorp (OTCQX: EDVR) has announced the opening of a new office in La Mesa, California, expanding its community presence in San Diego County. The grand opening event is set for April 12, 2023. This office aims to serve East County cities like La Mesa, El Cajon, Lemon Grove, and Santee, addressing local business banking needs with a consultative approach. Senior Vice President Odie Goward, with over 20 years of banking experience, will lead the new branch. This expansion follows Endeavor Bancorp's founding year and previous openings in downtown San Diego and Carlsbad.
Endeavor Bancorp (OTCQX: EDVR) announced the appointment of Julie Given-Glance as the new Chief Financial Officer, effective March 13, 2023. With 25 years of banking experience in Southern California, she previously held senior roles at Neighborhood National Bank and the National Credit Union Administration. Julie's expertise encompasses strategic planning and regulatory compliance, making her a significant asset for Endeavor Bancorp as it seeks to strengthen its market position. The company focuses on local banking solutions and is headquartered in San Diego.
Endeavor Bancorp (OTCQX: EDVR) reported a net income of $764,000 for Q4 2022, a decrease from $1.28 million in Q3 2022 and $1.56 million in Q4 2021. The decline in income resulted from lower PPP loan fees, totaling $41,000 in Q4 2022 versus $97,000 in Q3 2022. The company recognized a $740,000 provision for loan losses, significantly higher than previous quarters. Despite these challenges, core pretax earnings improved to $1.80 million in Q4 2022. For the full year, net income rose to $5.58 million, aided by a one-time tax credit. Total assets reached $480.4 million, with deposits increasing to $422.9 million.
Endeavor Bancorp (EDVR) reported a strong third quarter for 2022, with a pretax net income of $1.74 million, up from $1.33 million in Q2 2022. Total assets decreased to $428.8 million while total loans increased by $20.4 million during the quarter, indicating solid core loan growth. However, year-to-date income fell 16.7% from $4.78 million in 2021 to $3.98 million in 2022, influenced by reduced PPP fee income. The net interest margin was 4.20%, down from 4.32% in Q2 due to rising costs. Despite caution over rising interest rates, management remains optimistic about future profitability.
FAQ
What is the current stock price of ENDEAVOR BK (EDVR)?
What is the market cap of ENDEAVOR BK (EDVR)?
