MISSION BANCORP - $MSBC STOCK NEWS

Mission Bancorp reported first-quarter earnings of $7.3 million with annual loan growth of 8.9%. The net income available to common shareholders was $2.90 per diluted common share, showing a strong start to the year. Despite challenges in the banking industry due to inflationary pressures and competition for deposits, Mission maintained conservative balance sheet management and ample liquidity. Key financial highlights include gross loans increasing by $100.2 million, total deposits increasing by $59.7 million, and non-interest-bearing deposits representing 43.3% of total deposits. The ACL as a percentage of gross loans increased to 1.54%. Net interest income was $17.7 million, with a net interest margin of 4.54%. Non-interest income was $1.6 million, and non-interest expense increased by $0.5 million. The operating efficiency ratio was 44.0%, and the return on average equity was 18.3%. Total assets increased by $92.6 million, and total shareholders' equity was $165.1 million. The ACL increased to 1.54% to address ongoing economic uncertainties. The Bank's Community Bank Leverage Ratio was 11.59%, exceeding the requirement to be considered a 'well-capitalized' financial institution.

Mission Bancorp (MSBC) announces the retirement of Daniele Beasley from the Board of Directors, thanking her for her contributions.

Mission Bancorp reported strong financial results for the fourth quarter of 2023, with net income available to common shareholders of $7.8 million and gross loans and total deposits showing significant increases. The company's net interest income, provision for credit losses, non-interest income, and non-interest expenses also displayed notable variances when compared to the linked quarter and the same period a year ago.

Mission Bancorp announces the retirement of Arnold Cattani, Chairman Emeritus and Current Director, and the appointment of Emmy Cattani from Cattani Farming, Ranching & Real Estate, and Michael Hair, Jr. from Real Estate Development and Construction, to the board of directors. This strategic move aligns with the bank's 25th-anniversary celebration and aims to position the organization for future growth and success.

Mission Bancorp extends its 10b5-1 Plan to repurchase its common stock, allowing for the repurchase of up to $1.0 million worth of shares. The extension is valid for an additional six months.

Mission Bancorp reports unaudited net income of $8.0 million for Q3 2023. Gross loans increase by 10.1% to $1.16 billion. Total deposits decrease by 1.2% to $1.41 billion. Net interest income increases by 19.0% to $17.9 million. Provision for credit losses decreases to $0.2 million. Non-interest income is $1.4 million.