InsCorp, Inc. reports quarterly operating results and capital actions for INSBANK, its banking subsidiary. Updates commonly describe EPS, return metrics, efficiency ratio, loan and deposit growth, balance-sheet size, margin trends, and regulatory capital levels.
Company releases also cover INSBANK business lines such as commercial lending, commercial deposits, treasury services, private banking, commercial real estate and Medquity, its healthcare banking business with a national focus. Other recurring themes include quarterly dividends, market expansion such as Murfreesboro, board or management additions, asset quality, credit administration, charge-offs and lending-control reviews.
InsCorp (OTCQX: IBTN) reported Q3 2024 net income of $1,841,000 ($0.64 per share), compared to $1,820,000 ($0.63 per share) in Q2 2024 and $2,311,000 ($0.80 per share) in Q3 2023. The company saw loan growth of 4% year-over-year and 10% quarter-over-quarter, with strong performance in commercial and industrial loans. Revenue improved 6% quarter-over-quarter to $6,571,000, though declined 3% year-over-year. The Board approved a quarterly dividend of $0.10 per share, representing a 17.6% annualized increase from 2023.
InsCorp, Inc. reported net income of $1,820,000, or $0.63 per share, in Q2 2024, up from $1,763,000 in Q1 2024. The company achieved a ROAE of 10.1% and operating EPS of $0.65. Loan originations increased to $57 million in Q2, up from $23 million in Q1, with strength in Medquity, CRE, C&D, and C&I loans. The loan pipeline grew to $79 million. Medquity reported 9% Y/Y loan growth. Revenue declined 1.1% Y/Y but improved 2.7% LQA to $6,212,000. The net interest margin was 3.08%. Asset quality remains healthy with no net chargeoffs. InsCorp's Board authorized a share repurchase of 125,000 shares and declared a quarterly dividend of $0.10 per share.
InsCorp (IBTN) reported a net profit of $1,763,000 in Q1 2024, with an EPS of $0.61, down from $2,267,000 and $0.79 respectively in Q4 2023. ROA was 1.06% and ROE 9.5% in Q1 2024. Revenue declined slightly to $6,170,000, while the net interest margin decreased to 2.94% in the same period. The bank declared a quarterly cash dividend of $0.10 per share, representing a 17.6% increase from 2023.
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InsCorp (OTC-PINK: IBTN) reported a strong performance in Q1 2023, achieving a net profit of $2,050,000 or $0.71 per share. Compared to Q1 2022, net interest income increased by $1,047,000, and operating income before taxes rose to $2,614,000. Loans grew by $12.8 million or 7.8% annualized, while total assets rose by $61.8 million or 8.5%. The bank maintained a solid net interest margin of 3.44%, despite a slight decline from previous quarters. Asset quality indicators remained strong, with past due loans at only 0.05% and non-performing assets at 0.32%. The tangible book value per share grew to $22.35 during the quarter, reflecting positive operational efficiency and growth strategies despite environmental economic challenges.
InsCorp (OTCQX: IBTN) reported a fourth quarter net profit of $2,319,000, or $0.80 per share, marking a 33% increase from the previous year. Year-to-date earnings reached $10,336,000, or $3.59 per share. Net interest income rose 17.3% to $6,546,000, driven by loan growth of $31 million, an annualized rate of 20%. Non-interest bearing deposits grew 9.9%, while the cost of interest-bearing deposits increased to 2.05%. The bank also completed a key upgrade to an open API core system. Highlights included a 17.6% loan growth year-over-year and strong asset quality metrics with non-performing loans at 0.36%.