Welcome to our dedicated page for Mid-Southern Bancorp news (Ticker: MSVB), a resource for investors and traders seeking the latest updates and insights on Mid-Southern Bancorp stock.
Mid-Southern Bancorp, Inc. (MSVB) has issued a series of public announcements that document its transition from a Nasdaq-listed bank holding company to a non-SEC-reporting entity in dissolution. Historically, the company served as the holding company for Mid-Southern Savings Bank, FSB, a federally chartered savings bank headquartered in Salem, Indiana, and its news flow has focused on financial performance, corporate actions, and strategic transactions.
News releases for MSVB have covered quarterly and annual results, including discussions of net interest income, noninterest income, noninterest expense, credit quality, and capital ratios. The company has also announced regular quarterly cash dividends on its common stock, specifying record dates and payment dates, while noting that future dividends remain at the discretion of the board of directors and depend on multiple financial and regulatory factors.
A significant portion of recent news centers on corporate restructuring. Mid-Southern Bancorp, Inc. disclosed a voluntary decision to delist its common stock from The Nasdaq Stock Market, transition quotation to the OTCQX Market, and file to deregister its common stock with the Securities and Exchange Commission. Subsequent releases describe a definitive purchase and assumption agreement under which Beacon Credit Union agreed to acquire substantially all of the assets and assume substantially all of the liabilities of Mid-Southern Savings Bank, FSB in an all-cash transaction, followed by the planned liquidation of the bank and dissolution of the holding company.
More recent communications describe Mid-Southern Bancorp, Inc. as the former parent holding company of the former Mid-Southern Savings Bank, FSB and state that the company is in the process of dissolving and winding up its business. The company has provided updated estimates of the per share cash consideration expected to be distributed to shareholders in the dissolution, identified a record date for the dissolution payment, and explained how the removal of its common stock from the OTC Pink Marketplace is expected to affect trading.
Investors and researchers using this news page can review historical press releases related to MSVB’s earnings, dividends, capital actions, governance changes, delisting and deregistration decisions, the purchase and assumption transaction with Beacon Credit Union, and the ongoing liquidation and dissolution process. This archive offers context on the company’s strategic decisions and the sequence of events leading to its current status.
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.
Mid-Southern Bancorp (NASDAQ: MSVB) reported a third-quarter net income of $512,000, or $0.19 per diluted share, up from $456,000 in Q3 2021. Year-to-date income reached $1.5 million, a 25% increase from the previous year. Total interest income rose 20.5% due to higher average balances and yields of interest-earning assets. However, total interest expense increased significantly by 79.3%. The company also noted a rise in non-performing loans to $857,000. Total assets increased to $264.5 million as of September 30, 2022.
Mid-Southern Bancorp, Inc. (MSVB) has declared a quarterly cash dividend of $0.04 per share, payable on August 26, 2022, to shareholders of record as of August 12, 2022. The future payment of dividends will depend on the company’s financial condition, earnings, and various regulatory and market factors. Mid-Southern Bancorp operates through its subsidiary, Mid-Southern Savings Bank, with offices in Indiana and Kentucky, focusing on providing banking services in the region.
Mid-Southern Bancorp reported a net income of $526,000 for Q2 2022, up from $397,000 in 2021. Net income for the first half reached $993,000, compared to $775,000 last year. Interest income rose 14.8%, driven by higher loan balances and yields, while interest expense increased by 3.6%. Total assets grew to $266.5 million, fueled by increases in loans and investment securities. Non-performing loans increased slightly, totaling $822,000, and the allowance for loan losses reached $1.6 million. The bank maintained a strong capital position with a CBLR of 15.7% as of June 30, 2022.
Mid-Southern Bancorp, Inc. (NASDAQ - MSVB) announced an expansion of its stock repurchase program, allowing for the buyback of an additional 142,000 shares, roughly 5% of its outstanding shares. This follows the previous repurchase of 277,352 shares at an average price of $14.08 each, leaving 34,648 shares remaining under the old plan. With the new expansion, a total of 176,648 shares are now available for repurchase. The company will conduct these buybacks at management's discretion, considering market conditions and the company's financial performance.
Mid-Southern Bancorp, Inc. (Nasdaq: MSVB) has declared a quarterly cash dividend of $0.04 per share on its common stock. This dividend will be payable on May 27, 2022 to shareholders on record by the close of business on May 13, 2022. Future dividends will be determined by the Board of Directors based on various factors including the Company’s financial condition, earnings, and regulatory requirements. Mid-Southern Bancorp operates Mid-Southern Savings Bank with offices in Indiana and Kentucky.
Mid-Southern Bancorp (NASDAQ: MSVB) reported net income of $467,000 or $0.17 per diluted share for Q1 2022, an increase from $378,000 or $0.13 per share year-over-year. Net interest income rose by $38,000 to $1.7 million, driven by higher interest-earning assets, despite a decrease in yield from 3.43% to 3.17%. Total assets grew to $261.5 million, with notable increases in investment securities and net loans. Capital remains strong at a CBLR of 16.2%. However, stockholders’ equity fell to $41.0 million, impacted by a decrease in accumulated other comprehensive income and share repurchase costs.
Mid-Southern Bancorp (NASDAQ: MSVB) reported a net income of $377,000 or $0.13 per share for Q4 2021, up from $200,000 or $0.07 per share in Q4 2020. Total annual net income for 2021 reached $1.6 million, a rise from $1.2 million in 2020. Net interest income increased by 16% to $1.9 million for Q4 2021, with total assets rising to $254.3 million as of December 31, 2021. The allowance for loan losses remained stable at $1.5 million, with a decrease in non-performing loans. However, stockholders' equity decreased to $46.5 million due to share repurchases.
Mid-Southern Bancorp, Inc. (Nasdaq:MSVB) announced a quarterly cash dividend of $0.04 per share on its common stock, payable on February 25, 2022, to shareholders of record by February 11, 2022. The Board of Directors retains discretion over future dividends, influenced by the company's financial health, earnings, capital needs, regulatory considerations, and other factors. Mid-Southern Bancorp operates through Mid-Southern Savings Bank, headquartered in Salem, Indiana, with additional branches in Indiana and Kentucky.
Mid-Southern Bancorp, Inc. (NASDAQ - MSVB) announced an expansion of its stock repurchase program, allowing for an additional buyback of 150,000 shares, which represents about 5% of its outstanding shares. So far, the Company has repurchased 113,166 shares at an average price of $13.61 each, leaving a total of 198,834 shares available for repurchase. The buybacks will be conducted at management's discretion, influenced by market conditions and the Company's financial performance.
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