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. reports corporate-status developments for MSVB as the former parent holding company of the former Mid-Southern Savings Bank, FSB. Company news has covered OTC Pink trading status, dissolution-related shareholder payment updates, dividend declarations, and historical operating results from its banking period.
Earlier updates focused on bank holding-company themes, including net income, noninterest income and expense, deposit service charges, ATM and debit card fee income, brokered loan fees, regulatory capital treatment, and board-level decisions on listing, registration, and capital returns.
Mid-Southern Bancorp, Inc. (NASDAQ - MSVB) announced an additional stock repurchase program allowing for the buyback of 162,000 shares, about 5% of outstanding shares. This follows a previous buyback of 136,670 shares at an average price of $12.42, leaving 34,330 shares still purchasable under the earlier plan. Management will decide on repurchases based on market conditions and other factors, with no guarantee of the total number of shares repurchased. The program reflects the Company's commitment to enhancing shareholder value and is subject to various market influences.
Mid-Southern Bancorp (Nasdaq: MSVB) has declared a quarterly cash dividend of $0.02 per share on its outstanding common stock.
The dividend is payable on August 31, 2020, to shareholders recorded as of August 14, 2020.
The Company operates through Mid-Southern Savings Bank, headquartered in Salem, Indiana, and has additional branches in Mitchell and Orleans, Indiana, along with a loan production office in New Albany.
Mid-Southern Bancorp (NASDAQ: MSVB) reported a net income of $342,000 for Q2 2020, up from $297,000 in Q2 2019, reflecting a 15.1% year-over-year increase. For the first half of 2020, net income rose to $727,000 compared to $659,000 in 2019. The company continues to offer support through the SBA Paycheck Protection Program, funding 23 loans totaling $397,000. However, net interest income after provision for loan losses fell by 12.2% to $1.5 million. Non-performing loans rose to $1.5 million. The Bank maintained a well-capitalized status with a CBLR of 17.9%.
Mid-Southern Bancorp, Inc. (NASDAQ: MSVB) announces a new stock repurchase program authorizing the buyback of 171,000 shares, nearly 5% of its outstanding stock. This follows the repurchase of 164,100 shares at an average price of $12.13 from a previous plan. The company emphasizes that repurchases will depend on market conditions and management’s discretion, indicating flexibility in implementation. The aim is to enhance shareholder value while maintaining capital for growth opportunities.
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