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Lewis & Clark Bancorp (OTC Pink: LWCL) reported a net income of $318,000 for Q3 2022, down $981,000 from $1,299,000 in Q3 2021. Earnings per share fell to $0.30 from $1.21. Key factors include decreased net interest income and increased noninterest expense, despite a drop in tax provisions. Year-to-date net income reached $1,217,000, a decline from $3,243,000 last year. Total assets decreased by 16.1% to $373.2 million, driven by declines in cash, loans, and deposits. Shareholders’ equity stood at $29.3 million, down from $37.6 million.
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Lewis & Clark Bancorp (OTC Pink: LWCL) reported a net income of $515,000 for Q2 2022, down $519,000 from $1,034,000 in Q2 2021. Earnings per share decreased to $0.48 from $0.94. The decline in earnings was attributed to lower net interest income and noninterest income, along with higher noninterest expenses. Year-to-date net income also fell to $899,000 or $0.84 per share, down from $1,944,000 or $1.74 per share the previous year. Total consolidated assets decreased by 10.1% to $399.5 million, and shareholders' equity dropped to $30.5 million due to unrealized losses on investment securities.
Lewis & Clark Bancorp (OTC Pink: LWCL) reported a first-quarter net income of $384,000 for Q1 2022, down $526,000 from $910,000 in Q1 2021. Earnings per share decreased to $0.36 from $0.81. The decline in earnings was attributed to lower net interest income, primarily from a decrease in Paycheck Protection Program (PPP) loan earnings, and an increase in noninterest expenses. Total consolidated assets decreased by 6.3% to $416.7 million, with a $22.7 million drop in total deposits. Shareholders' equity was $32.9 million, down $4.7 million from the previous quarter.
Lewis & Clark Bancorp (OTC Pink: LWCL) reported a strong financial performance for Q4 2021, with net income reaching $557,000, up from $519,000 year-over-year. Full-year net income totaled $3.8 million, a significant increase from $1.58 million in 2020. Earnings per share rose to $0.52 in Q4 and $3.47 for the year, driven by higher net interest and noninterest income. Total assets increased by 28.4% to $444.5 million, while total deposits grew by $103 million. The company anticipates challenges in 2022, including reduced earnings from PPP loans and inflationary pressures.
Lewis & Clark Bancorp (OTC Pink: LWCL) announced strong growth in its 2021 Q3 results, reporting a net income of $1.3 million, a significant increase from $319,000 in Q3 2020. Year-to-date net income reached $3.2 million, up from $1.1 million last year, with earnings per share rising to $1.21 and $2.94 respectively. The increase in earnings was attributed to higher net interest income from PPP loans, decreased provision for loan losses, and growth in total assets to $427.3 million. However, continued economic uncertainties may impact future performance.
Lewis & Clark Bancorp (LWCL) reported second-quarter net income of $1,034,000, up from $617,000 year-over-year, with earnings per share increasing from $0.54 to $0.94. Year-to-date net income also rose to $1,944,000, or $1.74 per share, compared to $743,000, or $0.66 per share in the previous year. The growth is attributed to increased net interest income and a decrease in loan loss provisions, despite declines in noninterest income and rising noninterest expenses. Total consolidated assets reached $437.2 million, a 26.3% increase since the end of 2020.