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.
Infinity Bank (OTCQB:INFT) announced its third-quarter financial results for 2020, showing a notable increase in total loans by $21 million (18.3%) to $136.1 million. Total deposits rose by $10 million (7.0%) to $152.7 million. The net loss decreased by 18% to $165 thousand ($0.05 per share). Net-interest income surged by 30.4% to $1.6 million, while non-interest income fell 3.8% to $51 thousand. The Bank maintained a robust capital position with a tier 1 capital ratio of 15.7%.