Mission Valley Bcp Stock Price, News & Analysis

Mission Valley Bancorp (MVLY) reported Q4 2024 net income of $1.1 million ($0.34 per share), compared to a net loss of $0.2 million in Q4 2023. Full-year 2024 net income was $6.2 million ($1.87 per share), versus $7.4 million in 2023. Key Q4 highlights include:

- Net Interest Income increased 19.48% to $7.2 million
- Net Interest Margin improved to 4.47%
- Non-Interest Income rose 75.34% to $2.3 million
- SBA loan sales of $34.1 million generated $1.4 million in gains

Full-year 2024 achievements include a 13.58% increase in Net Interest Income to $27.5 million, gross loans growth of 5.4% to $547.0 million, and total deposits increase of 5.17% to $551.3 million. Asset quality metrics showed some deterioration with Non-Accrual Loans increasing to $5.3 million from $1.8 million in 2023.

Mission Valley Bancorp (MVLY) reported Q3 2024 net income of $1.4 million ($0.42 per diluted share), compared to $4.6 million ($1.40 per diluted share) in Q3 2023. Net interest income increased 9.89% to $6.9 million. Total assets reached $668.2 million, up 2.22% from December 2023. Gross loans increased 3.30% to $536.1 million, while deposits grew 4.44% to $547.6 million. The company maintained strong capital ratios with a leverage ratio of 10.35%. Notable concerns include increased past due loans of $5.6 million and classified loans of $9.3 million compared to $1.7 million and $2.0 million respectively in December 2023.

Mission Valley Bancorp (OTCQX: MVLY) reported strong financial results for Q2 2024. Net income reached $2.0 million, or $0.60 per diluted share, up 58% from Q2 2023. Net interest income increased by 11.49% to $6.7 million, while non-interest income grew by 47.11% to $2.9 million. The company completed a securitization of $33.6 million in SBA unguaranteed loan principal, resulting in $25.4 million in net proceeds.

Despite a slight decrease in total assets and deposits, Mission Valley's capital position remains strong with a leverage ratio of 9.83%. The bank's asset quality improved, with decreases in past due loans, classified loans, and non-accrual loans. CEO Tamara Gurney expressed optimism about the company's outlook, citing the new Burbank branch opening and ongoing digital transformation projects.

Mission Valley Bancorp reported a net income of $1.7 million, or $0.51 per share, for the first quarter of 2024, showing a stable performance compared to the same period in 2023. The company experienced positive growth in net interest income, non-interest income, and total assets. However, it faced challenges with an increase in past due loans and non-accrual loans, as well as a rise in provision for credit losses.

Mission Valley Bancorp (OTCQX: MVLY) reported a net income of $4.8 million, or $1.45 per diluted share for 2022, down slightly from $5.0 million, or $1.50 per diluted share in 2021. For Q4 2022, net income rose to $1.1 million or $0.32 per diluted share. The company declared a cash dividend of $0.15 per share, payable on or about February 28, 2023. Key achievements include a $122.4 million increase in gross loans, representing a growth of 38.86%, and a net interest income increase of $4.3 million, or 26.56%, to $20.3 million.

Mission Valley Bancorp (MVLY) reported a net income of $0.7 million or $0.20 per diluted share for Q2 2022, a decrease from $1.6 million or $0.48 per diluted share in Q2 2021. For the first six months of 2022, net income was $1.9 million, down from $2.4 million year-over-year. Notable highlights included a 13.63% increase in net interest income to $4.6 million and a 38.93% growth in gross loans, totaling $372.7 million. The Company maintains a strong capital position with no non-accrual loans as of June 30, 2022.