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. (OTTW) provides essential banking services through Ottawa Savings Bank, serving Illinois communities since 1871. This news hub offers investors and stakeholders timely access to official updates and financial developments.
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OTTAWA, Ill., Feb. 15, 2023 - Ottawa Bancorp, Inc. (OTCQX: OTTW) has declared a quarterly cash dividend of $0.11 per share. The dividend will be payable on or about March 15, 2023, to stockholders of record as of the close of business on March 1, 2023. Ottawa Bancorp, the holding company for OSB Community Bank, offers a range of financial services, including various deposit accounts and loans, serving individual and corporate clients across the United States. Founded in 1871, OSB Community Bank is headquartered in Ottawa, Illinois.
Ottawa Bancorp, Inc. (OTCQX: OTTW) reported a net income of $0.6 million ($0.22 per share) for Q4 2022, down from $0.8 million ($0.28 per share) in Q4 2021. Annual net income decreased to $2.5 million ($0.96 per share) from $2.9 million ($1.03 per share) in 2021. The loan portfolio rose to $307.8 million, but non-performing loans increased from $1.6 million to $2.3 million, raising the non-performing loans ratio to 0.73%. Ottawa Bancorp repurchased 954,042 shares at an average price of $13.53 each. The Company has faced challenges due to a higher interest rate environment, but net interest margin remained stable. The annual meeting of stockholders is scheduled for May 17, 2023.
Ottawa Bancorp (OTCQX: OTTW) has announced the expiration of its stock repurchase program as of November 29, 2022. The program, initiated on December 1, 2021, resulted in the repurchase of 254,457 shares at an average price of $14.24 per share. This buyback aims to enhance shareholder value by reducing the number of outstanding shares. Ottawa Bancorp operates OSB Community Bank, offering a range of financial services and loans since its founding in 1871.
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