Inscorp Stock Price, News & Analysis

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%.

InsCorp, the parent company of INSBANK (OTCQX:IBTN), reported a robust second quarter net profit of $2,247,000 or $0.78 per share, marking a 64.1% increase year-over-year. Year-to-date earnings stand at $5,451,000 or $1.90 per share. The net interest income rose by 20.5% to $5,883,000, driven by loan growth of $45 million. The bank's board welcomed new member Hope Lundt, enhancing its financial expertise. Despite economic uncertainties, asset quality remains strong with non-performing assets at 0.40%.

Nashville-based InsCorp, parent company of INSBANK (OTCQX:IBTN), reported first quarter earnings of $3.2 million, or $1.12 per share, marking a 149% increase year-over-year. Key highlights include a 15% rise in net interest income to $5.1 million, and record gains of $1.9 million from interest rate caps. Core deposits increased by $27 million, while total new loan commitments were approximately $40 million. The board approved a 25% increase in the semi-annual dividend, payable on June 10, 2022. Total assets grew by $88 million or 13.9%, with a tier 1 capital ratio of 12.27%.

InsCorp, parent company of INSBANK (OTCQX:IBTN), reported record fourth quarter earnings of $1,743,000 or $0.60 per share, a significant increase of 115% compared to $809,000 in 2020. For the year, net income reached $6,029,000 or $2.06 per share, up 148% from the previous year. The bank's net interest margin improved for the fifth consecutive quarter, and total interest income rose by 10% to $24.9 million. A special dividend of $0.12 will be paid on March 4, 2022. Key highlights include a 13.5% growth in total assets and a 51.8% increase in non-interest bearing deposits.

InsCorp, Inc. (OTCQX: IBTN) reported record third quarter earnings of $1,626,000 ($0.55 per share), a significant rise from $343,000 ($0.11 per share) in Q3 2020. Year-to-date earnings reached $4,286,000 ($1.46 per share), marking a 164% increase compared to the prior year. The bank's net interest margin improved by 21 basis points, driven by lower deposit costs and strong loan growth of over 17% in core loans. Total assets grew by $94 million (16%) year-over-year. A dividend of $0.12 per share will be paid on December 10, 2021, enhancing shareholder value.

InsCorp, Inc. (OTCQX: IBTN) announced on October 29, 2021 the completion of a $10.0 million private placement of fixed-to-floating rate subordinated notes due 2031.

The notes will initially yield 3.75% annually, transitioning to a variable rate tied to three-month SOFR plus 287 basis points starting October 30, 2026. Proceeds are expected to support growth initiatives and may be used for common stock repurchase.

InsCorp, parent company of INSBANK (OTCQX:IBTN), reported second quarter earnings of $1,369,000, or $0.47 per share, marking a substantial increase from $549,000 and $0.19 per share during the same period in 2020. Year-to-date earnings reached $2,659,000, a 107.6% increase from last year. Key highlights include an 11.2% growth in total assets, improved net interest margin, and a favorable efficiency ratio of 51.1%. The bank generated $19 million in loans through the government’s SBA-PPP program and reduced non-interest expenses compared to peers.

InsCorp, parent of INSBANK (OTCQX: IBTN), reported Q1 earnings of $1.29 million ($0.44/share), a 60% increase from the previous quarter. Key factors include core loan growth, PPP income, and lower funding costs. Net interest income rose to $4.44 million, a 14% year-over-year increase. The board declared a semi-annual dividend of $0.12/share, payable June 11, 2021. Modified loans represent 12% of the portfolio, with significant deferments in impacted sectors. Non-performing assets increased to 1.9%. The bank maintains a strong capital position with a tier 1 capital ratio of 11.9%.