Welcome to our dedicated page for Peak Bancorp news (Ticker: IDFB), a resource for investors and traders seeking the latest updates and insights on Peak 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 Peak 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 Peak Bancorp's position in the market.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Peak Bancorp, Inc. (OTC: IDFB) announced its unaudited financial results for Q4 and the full year ending December 31, 2022. The company reported after-tax net income of $1.66 million for Q4, totaling $4.27 million for the year. Fourth-quarter net interest income reached a record $6.14 million, aided by improved margins, despite a $1.21 million drop in mortgage banking income for 2022 due to decreased demand. Loan balances grew by $81 million to $480 million, with deposits up $27 million to $497 million. The allowance for loan losses stood at $5.7 million or 1.2% of loans, excluding PPP. Shareholder approval for the sale of the company to BAWAG Group was completed, pending regulatory approval.
Peak Bancorp, Inc. (OTC: IDFB) reported unaudited financial results for Q3 2022, with an after-tax net income of $2.6 million for the first nine months. A decline in net interest income of $2.1 million compared to 2021 was primarily due to an $8.0 million drop in PPP interest income, partially offset by non-PPP loan growth. The loan portfolio reached $459 million with a $114 million increase (excluding PPP) from Q3 2021, while deposits grew by $72 million to $480 million. The allowance for loan losses stood at $5.4 million or 1.2% of loans, indicating strong credit quality.
Peak Bancorp, Inc. (OTC: IDFB) reported unaudited financial results for Q2 2022, showing after-tax net income of $1.21 million for the first half of the year. Compared to 2021, net interest income declined by $2.8 million, mainly due to a decrease in Paycheck Protection Program (PPP) interest income. The loan portfolio reached $433 million, with growth of $105 million excluding PPP. Deposits increased to $476 million. The allowance for loan losses was $5.1 million, representing 1.2% of non-PPP loans, indicating strong credit quality and disciplined underwriting.
Peak Bancorp, Inc. (OTC: IDFB) reported a first-quarter 2022 net income of $617,000, impacted by $165,000 in merger-related expenses. The book value per share rose to $7.90 from $7.20 a year earlier. The company's loan portfolio grew to $411 million, with a $96 million increase excluding Paycheck Protection Program (PPP) loans. Deposits reached $477 million, up by $87 million from the previous year. Strong credit quality was maintained, with a $4.7 million allowance for loan losses, representing 1.2% of loans (excluding PPP).
Peak Bancorp, Inc. (OTC: IDFB) announced a definitive agreement to sell 100% of its shares to BAWAG Group for $65 million, translating to a diluted per share price of $12.05, pending shareholder and regulatory approval. The acquisition aims to enhance BAWAG Group's presence in the U.S. market, particularly in community banking, leveraging Idaho First Bank's operational support and market expertise. Both companies emphasize a commitment to growth in Idaho while providing value to shareholders.
Peak Bancorp, Inc. (OTC: IDFB) announced a definitive agreement to sell 100% of its shares to BAWAG Group for $65 million, equating to a diluted price of $12.05 per share. The deal requires shareholder and regulatory approval. BAWAG aims to leverage Idaho First Bank's community banking model to expand its presence in the U.S. and enhance operational support. Peak Bancorp's CEO expressed enthusiasm about the transaction, emphasizing opportunities for growth and service enhancement for customers and shareholders.