Welcome to our dedicated page for Ks Bancorp news (Ticker: KSBI), a resource for investors and traders seeking the latest updates and insights on Ks Bancorp stock.
KS Bancorp, Inc. reports recurring developments as the parent company of KS Bank, Inc., a state-chartered savings bank and full-service community bank serving eastern North Carolina. Company updates center on quarterly and annual earnings, net interest income, loan and deposit trends, asset growth, noninterest income and expenses, and regulatory capital measures such as the Community Bank Leverage Ratio.
KSBI news also includes cash dividend declarations and branch-network activity for KS Bank. The bank offers personal and business banking products and services, mortgages, and trust services through full-service offices in North Carolina communities.
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KS Bancorp, Inc. (OTCBB: KSBI) reported strong fourth-quarter results for 2022, with net income reaching $2.3 million or $2.11 per diluted share, a 63.6% increase from the previous year. For the full year, net income rose 24.0% to $7.6 million, with diluted earnings of $6.82 per share. Net interest income before loan losses was $5.9 million for Q4, up from $4.4 million in Q4 2021. Total assets decreased by $23.7 million to $547.5 million, while net loan balances increased by 19.7%. The company declared a quarterly dividend of $0.20 per share for January 2023.
KS Bancorp, Inc. (OTCBB: KSBI) reported strong financial results for Q3 2022, with net income rising 22.4% to $2.1 million ($1.86 per diluted share) compared to Q3 2021. Net interest income increased to $5.5 million, while noninterest income slightly declined to $740,000. The Bank showed stable growth in total deposits, up $28.4 million to $515.8 million, and net loan balances increased by $48.1 million to $393.7 million. The Board declared a quarterly dividend of $0.20 per share, payable on November 7, 2022. KS Bank remains well-capitalized under regulatory standards.
KS Bancorp, Inc. (OTCBB: KSBI) reported strong second quarter results for 2022, achieving a net income of $1.8 million, or $1.62 per diluted share, up from $1.5 million in Q2 2021. The firm's net interest income rose to $4.8 million, while noninterest income slightly increased to $722,000. Total assets decreased by $16.5 million to $554.7 million, primarily due to FHLB borrowings repayment. KS Bank increased loans by $22.4 million, and total deposits grew by $20 million. A quarterly dividend of $0.20 per share was announced, marking a 25% increase.
KS Bancorp, Inc. (OTCBB: KSBI) announced its unaudited results for Q1 2022, reporting a net income of $1,367,000 or $1.23 per diluted share, a decrease from $1,459,000 or $1.32 per diluted share in Q1 2021. Key figures include:
- Net interest income stable at $4.2 million
- Noninterest income rose to $802,000 from $675,000
- Total assets increased to $574.4 million
- Total stockholders' equity fell to $33.9 million
A quarterly dividend of $0.16 per share was declared, payable on May 9, 2022.
KS Bancorp, Inc. (OTC Pink: KSBI) reported strong unaudited results for Q4 2021, with a net income of $1.4 million ($1.29 per diluted share), marking a 7.43% increase year-over-year. For the full year, net income rose 39.2% to $6.1 million ($5.50 per diluted share). Total assets increased by $85.4 million to $571.2 million, while total deposits grew by 21.1% to $487.4 million. The Company declared a quarterly dividend of $0.16 per share. KS Bancorp remains well-capitalized with robust capital ratios, reflecting its stable operational performance amid evolving market conditions.