Welcome to our dedicated page for Morris St Bancsh news (Ticker: MBLU), a resource for investors and traders seeking the latest updates and insights on Morris St Bancsh stock.
Morris State Bancshares, Inc. reports recurring developments tied to its role as the parent company of Morris Bank, including quarterly earnings, dividend declarations, loan growth, deposit trends, and net interest margin performance. Company updates also discuss credit quality measures such as the allowance for credit losses, adversely classified assets, provision expense, and operating efficiency.
MBLU news may also cover capital-structure actions, including subordinated debt retirement and stock dividend adjustments, along with shareholder voting and governance matters. Morris Bank-related announcements include community-banking recognition and operating updates for its Georgia banking franchise.
Morris State Bancshares, Inc. (OTCQX: MBLU) reported a net income of $6.8 million for Q2 2022, a 22.31% increase from the previous quarter's $5.6 million. Diluted earnings per share rose 21.59% to $3.21. The growth was primarily driven by increased net interest income of $14.1 million and a decline in non-interest expenses, bolstered by a one-time health insurance adjustment. Total shareholders’ equity rose 3.72% to $159 million. The bank also announced a $0.44 per share dividend.
Morris State Bancshares, Inc. (MBLU) reported a net income of $5.2 million for Q1 2022, consistent with Q1 2021 but below the record $7.1 million in Q4 2021. The tangible book value increased by 15.24% year-over-year to $66.98 as of March 31, 2022. Key highlights include a 16.76% annualized loan growth of $38.3 million and a core deposit growth of 14.72%. Despite challenges such as higher salaries and reduced net interest income, management remains optimistic about continued organic growth and protecting shareholder equity, with a dividend of $0.44 per share announced for Q2 2022.
Morris State Bancshares reported a net income of $24.0 million for the year-end December 31, 2021, a 37.66% increase from $17.4 million in 2020. Diluted EPS also rose by 37.35% to $11.40. Key highlights include an 11.52% growth in net interest income to $54.4 million and organic loan growth of $146 million or 19.01%. The return on average assets improved to 1.96%, while tangible book value per share grew 15.56% to $64.77. A dividend of $0.44 per share was approved for Q1 2022.
Morris State Bancshares, Inc. (OTCQX: MBLU) reported a net income of $6.2 million for Q3 2021, a 13.24% increase from Q2 2021. Diluted EPS also increased by 13.08% to $2.94 per share. The rise in net earnings was attributed to reduced credit and tax provisions, along with higher non-interest income. Total shareholders’ equity rose 3.76% to $143 million. Notably, loan growth net of PPP loans was $37 million (4.48%). The bank’s provision for loan losses decreased to $450 thousand from $750 thousand in the previous quarter.
Morris State Bancshares, Inc. (OTCQX: MBLU) reported a net income of $5.5 million for Q2 2021, a 4.62% increase from the previous quarter. Diluted earnings per share rose to $2.60, up 4.42% from $2.49. The company’s total shareholders’ equity increased 4.90% to $138 million. Loans, excluding PPP loans, grew by 2.9% or $25 million, but gross portfolio revenue declined 3.0% due to lower PPP fee revenue. The third-quarter dividend of $0.38 per share is payable on September 15, 2021.
Morris State Bancshares, Inc. (OTCQX: MBLU) reported a net income of $5.2 million for Q1 2021, a 29.26% increase from $4.0 million in Q1 2020. Diluted earnings per share rose to $2.49, reflecting a 29.02% growth. Key growth drivers included strong fe income from the PPP program and cost management, leading to a 26.65% rise in net interest income to $13.6 million. Shareholders' equity grew by 14.80% to $131 million. However, net interest margin decreased to 4.37%, down 21 basis points year-over-year.
Morris State Bancshares, Inc. (MBLU) reported a net income of $17.4 million for the year ended December 31, 2020, a 27.80% increase from $13.6 million in 2019. Diluted earnings per share rose 20.82% to $8.30. Key drivers included strong fee income from the SBA Paycheck Protection Program and robust mortgage production. Core deposits grew over 37% to $896 million, with noninterest-bearing deposits increasing 45%. Total shareholders' equity climbed 16.15% to $129 million, and tangible book value per share reached $56.04. A dividend of $0.38 per share was also approved for March 2021.