Mid-Southern Bancorp Inc Stock Price, News & Analysis

SALEM, Ind., April 26, 2023 (GLOBE NEWSWIRE) -- Mid-Southern Bancorp, Inc. (Nasdaq:MSVB) declared a quarterly cash dividend of $0.06 per share on its common stock. The dividend will be payable on May 26, 2023, to shareholders of record as of May 12, 2023. Future dividends will depend on the Company’s financial condition, earnings, and various factors considered by the Board of Directors. Mid-Southern Bancorp serves as the parent company for Mid-Southern Savings Bank, headquartered in Salem, Indiana, with additional offices in Mitchell, Orleans, New Albany, and Louisville.

Mid-Southern Bancorp (NASDAQ: MSVB) reported a 2022 net income of $1.9 million, or $0.69 per diluted share, a 18.8% increase from $1.6 million in 2021. For Q4 2022, net income was $376,000, slightly down from $377,000 in Q4 2021. Total assets grew to $269.2 million, primarily from a $21.8 million increase in net loans. The net interest income after provision for loan losses rose by 7.3% year-over-year. However, noninterest income fell by 5.0% in Q4 2022 due to lower brokered loan fees. The bank maintained a well-capitalized status with a 15.4% Community Bank Leverage Ratio at year-end.

Mid-Southern Bancorp, Inc. (Nasdaq: MSVB) announced a quarterly cash dividend of $0.06 per share, set to be paid on February 24, 2023, to shareholders who are on record as of February 10, 2023. The decision on future dividends will depend on various factors, including the company's financial health and regulatory considerations. The Bank operates from its main office in Salem, Indiana, with additional branches in Mitchell, Orleans, and loan production offices in New Albany and Louisville. The company cautions that forward-looking statements are subject to risks, including economic conditions and regulatory changes, which may impact its financial performance.

Mid-Southern Bancorp, Inc. (Nasdaq:MSVB) has expanded its Board of Directors from seven to eight members, appointing James O. King, III, effective December 14, 2022. Mr. King, who serves as Executive Vice President and Senior Loan Officer, brings extensive community banking experience, previously holding leadership roles at King Southern Bank. His expertise is expected to enhance the company’s mission in the markets it serves. The change aligns with strategic governance improvements aimed at bolstering the bank's operational capabilities.

Mid-Southern Bancorp, Inc. (Nasdaq:MSVB) announced a quarterly cash dividend of $0.06 per share, marking a 50% increase from the previous dividend of $0.04. This cash dividend will be payable on November 25, 2022, to shareholders of record as of November 10, 2022. The decision on future dividends will depend on various factors including financial condition, earnings, and regulatory requirements. The Bank operates primarily in Indiana and Kentucky, focusing on banking services.