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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 (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%.
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%.