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Level One Bancorp, Inc. (Nasdaq: LEVL) declared a quarterly cash dividend of $0.07 per share, payable on April 15, 2022, to shareholders on record as of March 31, 2022. The company, headquartered in Michigan, has approximately $2.52 billion in assets as of December 31, 2021, operating 16 banking centers across Southeast and West Michigan. The dividend reflects Level One's commitment to returning value to its shareholders while continuing its growth strategy in the competitive banking sector.
Level One Bancorp reported a net income of $7.1 million for Q4 2021, down from $8.4 million in Q4 2020. EPS fell to $0.85 from $1.02 year-over-year. Despite a decline in total loans by 3.89% to $1.65 billion, net interest income rose by 1.07% annually to $19.3 million. The bank achieved a record net income of $32.5 million for 2021, up 59.10% from 2020. However, noninterest income fell 21.75% in Q4 2021, primarily due to decreased mortgage activity. The bank's dividend was maintained at $0.06 per share.
Level One Bancorp, Inc. (Nasdaq: LEVL) has declared a quarterly cash dividend of $46.88 per share on its 7.50% Non-Cumulative Preferred Stock, Series B. Each depositary share will receive $0.4688, payable on February 15, 2022, to shareholders of record by January 31, 2022. As of September 30, 2021, the company reported assets of approximately $2.54 billion and operates 16 banking centers across Southeast and West Michigan.
Level One Bancorp, Inc. (Nasdaq: LEVL) declared a quarterly cash dividend of $0.06 per share, payable on January 15, 2022, to shareholders of record on December 31, 2021. The company, headquartered in Michigan, reported assets of approximately $2.54 billion as of September 30, 2021, and operates sixteen banking centers throughout Southeast and West Michigan. This dividend announcement reflects the company's commitment to returning income to its shareholders.
Monteverde & Associates PC is investigating three companies regarding their proposed mergers. McAfee Corp. (MCFE) is under scrutiny for its acquisition by an investor group, offering shareholders $26.00 per share. Level One Bancorp, Inc. (LEVL) is exploring its merger with First Merchants Corp., with a proposed deal of $10.17 in cash and 0.7167 shares of First Merchants stock per LEVL share. Viasat, Inc. (VSAT) is also being examined for its merger with Inmarsat, involving $850 million in cash and 46.36 million newly issued shares. Investors can seek more information for free.
First Merchants Corporation and Level One Bancorp have entered into a definitive merger agreement valued at approximately $323.5 million. Level One Bancorp will merge with First Merchants Corporation in a stock and cash transaction, offering LEVL shareholders a mix of 75% stock and 25% cash. The implied merger consideration is $41.35 per LEVL share. The merger aims to enhance First Merchants' operations in southeastern Michigan, with combined assets of $17.6 billion and plans for complete integration by the third quarter of 2022.
Level One Bancorp, Inc. (Nasdaq: LEVL) reported a strong third quarter of 2021, achieving net income of $9.5 million, or $1.16 diluted earnings per share, marking a 73.13% year-over-year increase. The results were primarily driven by a 14.81% annualized increase in total loans (excluding PPP loans) and a 55.51% rise in mortgage banking fees. Improved credit quality was evident with nonperforming assets decreasing to 0.48% of total assets. The net interest margin increased to 3.47%, reflecting lower deposit costs and higher loan interest income.
Level One Bancorp, Inc. (Nasdaq: LEVL) declared a quarterly cash dividend of $0.4688 per depositary share on its 7.50% Non-Cumulative Preferred Stock, Series B. This dividend is payable on November 15, 2021, to shareholders of record as of October 31, 2021. Level One Bancorp, with assets of approximately $2.51 billion as of June 30, 2021, operates sixteen banking centers across Southeast and West Michigan.
Level One Bancorp announced a quarterly cash dividend of $0.06 per share, payable on October 15, 2021, to shareholders of record on September 30, 2021. The company operates sixteen banking centers across Southeast and West Michigan and manages assets totaling approximately $2.51 billion as of June 30, 2021.
Level One Bancorp reported a robust second quarter of 2021 with net income of $7.0 million, or $0.84 diluted earnings per share, a significant increase from $2.7 million year-over-year. Loan growth, excluding PPP loans, was 16.5% annualized, amounting to $60.0 million. Total loans decreased by 4.64% to $1.78 billion, while total deposits fell 2.97% to $2.03 billion. The bank also declared a quarterly cash dividend of $0.06 per share. However, net interest margin slightly declined to 3.30%.
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