Welcome to our dedicated page for Ottawa news (Ticker: OTTW), a resource for investors and traders seeking the latest updates and insights on Ottawa stock.
Ottawa Bancorp, Inc. (OTCQX: OTTW) is the holding company for OSB Community Bank, a savings institution headquartered in Ottawa, Illinois. Company news releases describe how OSB Community Bank provides various financial services to individual and corporate customers in the United States, including deposit accounts and a range of real estate, commercial, and consumer loans.
This news page aggregates updates and disclosures issued by Ottawa Bancorp, Inc. Topics in recent announcements include quarterly and annual financial results, trends in net interest income and asset quality, and changes in the composition of the loan and deposit portfolios. The company also reports on capital management actions such as stock repurchase programs and the declaration of quarterly cash dividends on its common stock.
Investors following OTTW news can review detailed discussions of one-to-four family residential mortgage lending, multi-family and non-residential real estate loans, commercial and construction lending, as well as auto loans and home equity lines of credit. Releases also address the allowance for credit losses, non-performing loans, and the impact of funding and deposit mix on net interest margin.
By monitoring this Ottawa Bancorp, Inc. news feed, readers can see how the holding company and OSB Community Bank describe their financial performance, balance sheet changes, and shareholder-focused actions over time, all directly from the company’s own public communications.
Ottawa Bancorp (OTCQX: OTTW), the holding company for OSB Community Bank, has declared a quarterly cash dividend of $0.11 per share. The dividend will be payable on March 19, 2025, to stockholders of record as of March 5, 2025.
OSB Community Bank provides various financial services, including checking, money market, savings accounts, and retirement accounts. The bank's loan portfolio encompasses residential mortgages, multi-family and non-residential real estate, commercial loans, auto loans, and home equity lines of credit. Founded in 1871, OSB Community Bank is headquartered in Ottawa, Illinois.
Ottawa Bancorp (OTTW) reported Q4 2024 net income of $0.5 million ($0.21 per share), up from $0.2 million ($0.08 per share) in Q4 2023. However, full-year 2024 net income decreased to $0.8 million ($0.31 per share) from $1.7 million ($0.66 per share) in 2023.
The loan portfolio decreased to $301.7 million from $312.2 million year-over-year. Non-performing loans remained at $4.8 million, with the ratio increasing to 1.58% from 1.52%. The company completed its sixth stock repurchase program, buying back 127,332 shares at an average price of $13.51.
Total assets decreased 2.8% to $353.7 million, while deposits increased slightly by 0.7% to $282.9 million. FHLB advances decreased 27.6% to $22.3 million, and stockholders' equity declined 3.5% to $40.2 million.
Ottawa Bancorp (OTCQX: OTTW) has announced the completion of its previously announced stock repurchase program. The company successfully repurchased 127,332 shares of its outstanding common stock at an average price of $13.51 per share. The buyback was executed through OSB Community Bank, Ottawa Bancorp's holding company.
Ottawa Bancorp (OTCQX: OTTW), the holding company for OSB Community Bank, has declared a quarterly cash dividend of $0.11 per share. The dividend will be payable on December 18, 2024, to stockholders of record as of December 4, 2024. OSB Community Bank provides various financial services, including deposit accounts and loans, to individual and corporate customers in the United States. The bank's portfolio includes residential mortgage, multi-family and non-residential real estate, commercial, and construction loans, along with auto loans and home equity lines of credit.
Ottawa Bancorp (OTTW) reported Q3 2024 net income of $0.2 million ($0.08 per share), down from $0.5 million ($0.20 per share) in Q3 2023. The loan portfolio decreased to $304.2 million from $312.2 million, with non-performing loans at $4.8 million. Interest income increased to $4.1 million from $3.8 million, while interest expense rose to $1.9 million from $1.5 million. The company continued its sixth stock repurchase program, buying back 64,221 shares at an average price of $13.38. Total assets decreased 2.4% to $355.2 million, and total deposits declined 2.1% to $275.3 million.
Ottawa Bancorp, Inc. (OTCQX: OTTW), the holding company for OSB Community Bank, has announced a quarterly cash dividend of $0.11 per share. This dividend is payable on September 18, 2024, to stockholders of record as of the close of business on September 4, 2024.
OSB Community Bank, founded in 1871, offers various financial services including deposit accounts and loans. The bank's portfolio includes residential mortgage, multi-family and non-residential real estate, commercial, and construction loans, as well as auto loans and home equity lines of credit.
Ottawa Bancorp (OTCQX: OTTW) reported a net loss of $0.2 million ($0.08 per share) for Q2 2024, compared to net income of $0.5 million ($0.22 per share) in Q2 2023. For H1 2024, net income was $0.1 million ($0.02 per share), down from $1.0 million ($0.39 per share) in H1 2023. The company executed a balance sheet management strategy, selling 21 investment securities for a $0.6 million loss to improve future net interest income. The loan portfolio decreased to $302.5 million from $312.2 million at year-end 2023. Non-performing loans increased slightly to 1.62% of gross loans. The company continued its stock repurchase program, buying back 11,425 shares at an average price of $11.72 in Q2 2024.
Ottawa Bancorp, the holding company for OSB Community Bank, announced a stock repurchase program approved by its Board of Directors. The program authorizes the repurchase of 127,332 shares, representing 5% of the company's outstanding common stock. These repurchases will occur through open market purchases, under a trading plan pursuant to SEC Rule 10b5-1, or through privately negotiated transactions. The repurchase program will terminate either upon the completion of the 127,332 shares purchase or by February 10, 2025, whichever comes first. The program aims to capitalize on favorable market conditions and other relevant factors.
Ottawa Bancorp, the holding company for OSB Community Bank, announced a quarterly cash dividend of $0.11 per share.
This dividend will be paid on June 12, 2024, to stockholders of record as of May 29, 2024. OSB Community Bank, founded in 1871 and headquartered in Ottawa, Illinois, offers a range of financial services including deposit accounts and various types of loans such as residential and commercial mortgages, auto loans, and home equity lines of credit. The bank serves both individual and corporate customers in the United States.
Ottawa Bancorp, Inc. announced first quarter 2024 results showing a net income of $0.3 million, down from $0.4 million last year. The loan portfolio decreased to $306.1 million, non-performing loans remained at $4.8 million. Interest rates and local competition impacted cost of funds. Despite challenges, asset quality remains strong with a focus on improving earnings and shareholder value.