Infinity Bank Stock Price, News & Analysis

Infinity Bancorp announced their financial results for the first quarter of 2024, highlighting a dividend of $0.07 per share paid, total liquidity of $117 million, total loans increasing by $7.5 million, total deposits increasing by $12.7 million, and earnings per share increasing to $0.30 per share. The Company also declared a $0.07 cash dividend and made additional provisions to the Allowance for Credit Losses during the quarter. Yields on total loans increased to 9.39%, deposits totaled $262.3 million, non-interest income decreased, non-interest expense increased, income tax expense increased, and net income increased to $820 thousand. The Company remains well-capitalized with a tier 1 leverage ratio of 12.28%, tier 1 risk-based capital ratio of 15.67%, and a total risk-based capital ratio of 18.57%.

Infinity Bancorp, the holding company for Infinity Bank, announced a quarterly cash dividend of $0.07 per common share, payable on May 30, 2024, to shareholders of record on May 16, 2024. The Bank focuses on serving commercial businesses, professional service entities, owners, employees, and families.

Infinity Bancorp (OTCQB:INFT) reported strong financial results for the year ending December 31, 2022, highlighting a 90% increase in net income for Q4 compared to Q3, and a 212% rise year-over-year. Total assets grew by $13.3 million and total deposits increased $13.8 million year-over-year. The yield on total loans improved to 8.48%, up from 6.93% a year prior, reflecting the impact of rising interest rates. However, total deposits saw a 5.0% decline from Q3. The Bank maintains strong capital ratios, exceeding regulatory requirements, with a Tier 1 risk-based capital ratio of 15.2% as of the end of 2022.

Infinity Bank (OTCQB:INFT) reported financial results for Q3 2022, highlighting a net income of $725,000, reflecting a 69% increase from Q2 2022. Total assets rose by $7.2 million, and deposits increased by $7.9 million to $291 million. The net interest margin improved by 69 basis points to 4.10%, while total loans decreased by 2.4%. The bank also raised its Allowance for Loan and Lease Losses to 1.81%. Non-interest income fell by 34.3% in Q3, and non-interest expenses increased by 18.1%. Overall, the bank continues to exceed capital requirements with a tier 1 risk-based capital ratio of 14.5%.

Infinity Bank (OTCQB:INFT) announced its financial results for Q2 2022, with total assets rising by $6.7 million and total deposits increasing by $7.4 million compared to Q1 2022. Net income reached $430,000, a 42% year-over-year growth, while net interest income grew by 27.2% to $2.5 million. The loan portfolio expanded to $154.4 million, a 4.9% increase from the previous quarter. However, the bank raised its Allowance for Loan and Lease Losses to 1.61% of total loans due to recession concerns. The book value per share slightly declined to $8.03.