Ottawa Stock Price, News & Analysis

Ottawa Bancorp, Inc. (OTCQX: OTTW) declared a quarterly cash dividend of $0.10 per share on May 19, 2021. This dividend is payable on June 16, 2021, to stockholders on record as of June 2, 2021. Ottawa Bancorp operates as the holding company for Ottawa Savings Bank FSB, providing diverse financial services such as various deposit accounts and a range of loans, including mortgages and auto loans. Founded in 1871, the bank is headquartered in Ottawa, Illinois.

Ottawa Bancorp, Inc. (OTCQX: OTTW) announced its application to convert Ottawa Savings Bank from a federally-chartered savings bank to an Illinois-chartered commercial bank. This strategic move aims to enhance competitiveness and facilitate an expanded commercial loan portfolio, benefiting customer needs and reducing regulatory costs. The bank also plans to change its name to OSB Community Bank. The conversion is anticipated to be completed in Q3 2021, pending regulatory approval, with the Illinois Department of Financial and Professional Regulation and FDIC as primary regulators.

Ottawa Bancorp (OTCQX: OTTW) reported a net income of $0.6 million, or $0.20 per share, for Q1 2021, a significant increase from $0.1 million in Q1 2020. Loan originations drove a strong loan portfolio growth to $270.8 million, up from $255.1 million at the end of 2020. Non-performing loans decreased to $1.8 million, resulting in a lower non-performing loan ratio of 0.57%. Total assets increased by 5.1% to $323.4 million, supported by a 7.1% rise in total deposits. The company returned $1 million in dividends and continued its stock buyback program.

OTTAWA, Ill., Feb. 17, 2021 - Ottawa Bancorp, Inc. (OTCQX: OTTW) declared a special cash dividend of $0.25 per share for its common stock. This marks the third special dividend since the Company's stock conversion in 2016. Additionally, the quarterly cash dividend has been increased from $0.08 to $0.10 per share. Both dividends will be paid on or about March 17, 2021, to shareholders on record by the close of business on March 3, 2021. The Board believes this decision aligns with sound capital management while allowing for the Bank's growth.

OTTAWA, Ill., Feb. 4, 2021 - Ottawa Bancorp (OTCQX: OTTW) reported a net income of $0.8 million for Q4 2020, up from $0.6 million in Q4 2019, resulting in $0.30 per share. Annual net income rose 28.1% to $2.48 million, or $0.84 per share. The loan portfolio grew to $255.1 million while non-performing loans decreased to $1.9 million. The company has repurchased 562,256 shares at an average price of $12.98. CEO Craig Hepner expressed optimism for 2021 amid economic recovery, citing strong capital and asset quality.

Ottawa Bancorp, Inc. (OTCQX: OTTW) has approved a new stock repurchase program allowing the buyback of 297,047 shares, which is about 10% of its outstanding shares. As of September 30, 2020, the company previously repurchased 524,341 shares at an average price of $12.93. These transactions will take place through open market purchases, potentially under SEC Rule 10b5-1, and will be influenced by market conditions. The initiative aims to enhance shareholder value.

Ottawa Bancorp, Inc. (OTCQX: OTTW) has declared a quarterly cash dividend of $0.08 per share, set to be paid on December 16, 2020. The record date for stockholders is December 2, 2020. As the holding company for Ottawa Savings Bank FSB, Ottawa Bancorp provides a range of financial services including various deposit and loan products. Founded in 1871, the bank serves individual and corporate customers in the U.S.

Ottawa Bancorp, Inc. (OTCQX: OTTW) reported a net income of $0.8 million ($0.27/share) for Q3 2020, an increase from $0.5 million ($0.18/share) in Q3 2019. For the nine months ending September 30, 2020, net income reached $1.6 million ($0.55/share), up from $1.4 million ($0.44/share) in the prior year. The loan portfolio grew to $256.7 million, with a decrease in non-performing loans from $2.3 million to $1.8 million. However, stockholders’ equity fell by 3.6% to $48.9 million, impacted by share repurchases and dividends, despite ongoing support for customers during the COVID-19 pandemic.

Ottawa Bancorp, Inc. (OTCQX: OTTW) has declared a quarterly cash dividend of $0.08 per share, set for payment on or about September 16, 2020. This dividend will be distributed to stockholders of record as of the close of business on September 2, 2020. Ottawa Bancorp is the holding company for Ottawa Savings Bank FSB, providing a range of financial services including various deposit accounts and loans since its establishment in 1871.