Infinity Bancorp reports recurring developments tied to its role as the bank holding company for Infinity Bank, a community bank serving commercial businesses, professional service entities, their owners, employees, and families. News typically covers quarterly financial results, regulatory capital ratios, book value, stockholders' equity, loan yields, non-interest expense, efficiency trends, and liquidity related to investment securities and Federal Home Loan Bank capacity.
The company's updates also include board-approved cash dividends and operating context for Infinity Bank's deposit products, business loans, and commercial real estate financing.
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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.
Infinity Bank reported financial results for Q1 2022, showing a 7% increase in net income to $472K, or $0.14 per share, compared to Q4 2021, and an impressive 88% year-over-year growth. Total assets rose by $12 million, while deposits grew by $13 million. However, total loans decreased by 1.9% from the previous quarter. The Bank's net interest margin fell to 3.35%, down from 3.57% in Q4 2021, primarily due to reduced fee income from PPP loans. The Bank remains well-capitalized with tier 1 leverage at 9.7%.
Infinity Bank (OTCQB:INFT) reported its financial results for the year and fourth quarter of 2021, highlighting significant growth with a 53% year-over-year increase in net interest income, totaling $8.9 million. Total assets rose by $92 million, while total loans grew by $14.2 million year-over-year. The bank successfully reversed a $1.89 million deferred tax asset valuation allowance, reflecting profitable operations. However, net income in Q4 dropped 79.8% to $440,000.
Infinity Bank (OTCQB:INFT) reported financial results for Q3 2021, marking its fourth consecutive profitable quarter with a net income of $2.2 million ($0.66 per share). The bank reversed a $1.98 million tax asset valuation allowance, contributing to this profitability. Total deposits rose by $123.1 million, while total loans increased by 13% year-over-year. Net-interest income was $2.3 million, up 46.8% from Q3 2020. The bank’s tier 1 leverage ratio stands at 8.96%, indicating robust capital strength.
Infinity Bank (OTCQB:INFT) reported strong financial results for Q2 2021, achieving a net income of $302K, reflecting a 20.3% increase from Q1 2021. Total loans rose to $153.5 million, a 7.5% quarter-over-quarter growth. Deposits climbed by $16.6 million, reaching $176.3 million. The bank's net-interest income increased by 4.0% to $2 million, while non-interest income grew by 58.8% to $81K. Improved capital ratios were observed, maintaining regulatory compliance with a tier 1 leverage ratio of 13.00%. Overall, the bank demonstrates positive momentum amid ongoing economic recovery.