Welcome to our dedicated page for Mission Banc Ord news (Ticker: MSBC), a resource for investors and traders seeking the latest updates and insights on Mission Banc Ord stock.
Mission Bancorp (MSBC) is a Bakersfield, California-based bank holding company and parent of Mission Bank, operating in the commercial banking industry. This news page aggregates press releases and announcements from Mission Bancorp and Mission Bank, giving readers a centralized view of the company’s recent performance, strategic actions, and market activity.
Company news frequently covers quarterly and annual earnings, where Mission Bancorp reports net income available to common shareholders, loan and deposit growth, net interest margin trends, and credit quality metrics. These earnings releases often include commentary from management on the interest rate environment, deposit competition, and the company’s relationship-driven business model.
Mission Bancorp also issues news about capital management decisions, including extensions of its Rule 10b5-1 stock repurchase plan and the approval of an annual stock dividend. Such announcements outline authorized repurchase amounts, plan durations, and the role of Hilltop Securities, Inc. as the company’s agent for share repurchases.
Operational updates appear in the news as well, such as the expansion of Mission Bank’s presence in California markets. Examples include opening or planning new loan and deposit production capabilities, like the team established in North San Luis Obispo County that focuses on commercial and agricultural relationships and reports to the agricultural division.
Readers following MSBC news can track themes such as deposit growth, commercial and agricultural lending activity, noninterest income from SBA and Farmer Mac-related services, and the company’s use of interest rate swaps to manage rate risk. For investors, customers, and analysts, this page offers an organized view of Mission Bancorp’s official announcements over time.
Mission Bancorp (OTC Pink: MSBC) has announced the extension of its Rule 10b5-1 stock repurchase plan through April 24, 2025. The extended plan authorizes the company to repurchase up to $1.0 million of its common stock, with previous unused funds being removed. Hilltop Securities will act as the company's agent for share purchases. Mission Bancorp, with $1.8 billion in assets, operates through four subsidiaries including Mission Bank, which has eight Business Banking Centers across California.
Mission Bancorp (OTC Pink: MSBC) reported Q3 2024 net income of $7.8 million, or $2.93 per diluted share, compared to $8.0 million in Q3 2023 and $7.3 million in Q2 2024. Key highlights include:
- Gross loans increased 7.3% YoY to $1.24 billion
- Total deposits grew 14.4% YoY to $1.61 billion, with 33% annualized growth in Q3
- Net interest income was $18.2 million, with a 4.31% net interest margin
- Non-interest income increased 71.3% YoY to $2.5 million
- Credit quality remains strong with nonaccrual loans at 0.03% of total gross loans
- The Bank's Community Bank Leverage Ratio was 11.41%
Mission Bancorp continues to show strong deposit growth and stable earnings despite the challenging rate environment.
Mission Bancorp (OTC Pink: MSBC) reported Q2 2024 net income of $7.3 million, or $2.73 per diluted share, unchanged from Q1 2024 but down 5.2% from Q2 2023. Key highlights include:
- Gross loans increased 5.9% YoY to $1.23 billion
- Total deposits grew 7.5% YoY to $1.48 billion
- Net interest margin was 4.47%, down from 4.68% in Q2 2023
- Efficiency ratio increased to 47.3% from 42.9% in Q2 2023
- Community Bank Leverage Ratio improved to 11.81%
The bank faced industry challenges but reported strong deposit growth. Credit quality remained strong with nonaccrual loans at 0.04% of total gross loans. Mission Bancorp was included in American Banker's list of top 20 performing publicly traded banks under $2 billion in assets.
Mission Bancorp announced the extension of its stock repurchase plan and the approval of a 5.00% annual stock dividend. The extension of the repurchase plan allows the company to repurchase its common stock up to $1.0 million. The stock dividend will be issued on June 3, 2024, to shareholders of record as of May 20, 2024.
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