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 $0.04 per share, marking a 33% increase from the previous $0.03 rate. This dividend will be payable on November 26, 2021, to shareholders on record as of November 12, 2021. Additionally, the company appointed James O. King, III as Executive Vice President and Senior Loan Officer, succeeding Frank M. Benson, III who is retiring on January 1, 2022. The Board of Directors will determine future dividends based on various financial factors.
Mid-Southern Bancorp (NASDAQ: MSVB) reported a net income of $456,000 or $0.16 per diluted share for Q3 2021, a significant increase from $264,000 or $0.09 per diluted share in Q3 2020. Year-to-date, net income reached $1.2 million, up from $991,000 in the previous year. The bank funded 43 PPP loans totaling $815,000, with 27 loans forgiven as of September 30, 2021. Total assets grew to $252.3 million. However, stockholders' equity decreased to $46.2 million, impacted by share repurchases. The CBLR stood at 16.5%, indicating a well-capitalized status.
Mid-Southern Bancorp, Inc. (Nasdaq: MSVB) announced a quarterly cash dividend of $0.03 per share, payable on August 27, 2021 to shareholders on record by August 13, 2021. Future dividends will be determined by the Board of Directors, considering financial condition, earnings, capital needs, and legal or regulatory constraints. The bank operates in Salem, Indiana, with additional branches in Mitchell and Orleans, and loan production offices in New Albany and Louisville, Kentucky.
Mid-Southern Bancorp (NASDAQ: MSVB) reported a net income of $397,000 ($0.13/share) for Q2 2021, up from $342,000 ($0.10/share) in Q2 2020. For the first half of 2021, net income reached $775,000 ($0.26/share), compared to $727,000 ($0.22/share) in 2020. Total assets increased to $249.2 million, with interest income rising 3.5% to $1.7 million. Noninterest income grew by 14.8% in Q2 2021, driven by higher deposit service charges. However, noninterest expenses rose 12.0% due to increased compensation and benefits.
Mid-Southern Bancorp, Inc. (Nasdaq:MSVB) announced a quarterly cash dividend of $0.03 per share on its common stock, payable on May 28, 2021, to shareholders on record as of May 14, 2021. The future declaration and payment of dividends will depend on various factors like the company’s financial condition, earnings, and regulatory constraints. Mid-Southern Bancorp operates Mid-Southern Savings Bank, headquartered in Salem, Indiana, with additional branches in Mitchell and Orleans, Indiana, and loan offices in New Albany and Louisville, Kentucky.
Mid-Southern Bancorp reported a net income of $378,000 or $0.13 per diluted share for Q1 2021, a slight decrease from $385,000 or $0.12 per diluted share in Q1 2020. The bank supported customers through the PPP in response to COVID-19, with $474,000 in loans funded in the first round and $459,000 in the second round. Total assets rose to $244.9 million, while total liabilities increased to $197.0 million. Non-performing loans decreased to $971,000, and the allowance for loan losses remained stable at 1.4%. The community bank's CBLR stands at 16.8%, indicating well-capitalized status.
Mid-Southern Bancorp (NASDAQ: MSVB) reported a net income of $200,000, or $0.07 per diluted share, for Q4 2020, up from $196,000 in the same period of 2019. Full-year net income rose to $1.2 million, or $0.38 per diluted share, compared to $960,000 in 2019. The bank funded 29 PPP loans totaling $474,000, with 12 loans fully forgiven. Total assets increased to $235.4 million, while net loans dropped by $10 million. Non-performing loans rose to $1.3 million, accounting for 1.1% of total loans. The company maintained a well-capitalized status with a Community Bank Leverage Ratio of 17.6%.
Mid-Southern Bancorp, Inc. (Nasdaq:MSVB) has declared a quarterly cash dividend of $0.03 per share, marking a 50% increase from the previous rate of $0.02. This dividend will be payable on March 1, 2021, to shareholders of record as of February 19, 2021. Future dividends will be determined by the Board of Directors, considering the Company’s financial condition and other relevant factors. The Company is the parent of Mid-Southern Savings Bank, FSB, with operations primarily in Indiana.
Mid-Southern Bancorp, Inc. (Nasdaq:MSVB) has declared a quarterly cash dividend of $0.02 per share on its common stock. This dividend is payable on November 30, 2020 to shareholders on record by the close of business on November 13, 2020. The company operates through its subsidiary, Mid-Southern Savings Bank, FSB, headquartered in Salem, Indiana, and has branch offices in Mitchell and Orleans, Indiana, as well as a loan production office in New Albany, Indiana.
Mid-Southern Bancorp (NASDAQ: MSVB) reported a third-quarter net income of $264,000, or $0.09 per diluted share, up from $105,000, or $0.03 per diluted share, in 2019. For the nine months ended September 30, net income was $991,000, or $0.31 per diluted share, versus $764,000, or $0.23 per diluted share, in the prior year. Total assets rose to $218.3 million. The bank funded 29 PPP loans totaling $474,000. However, net interest income decreased by 10.1% due to lower yields on interest-earning assets. The Company remains well-capitalized with a CBLR of 17.7% as of September 30, 2020.
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