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Reliant Bancorp, Inc. (Nasdaq: RBNC) announced a quarterly cash dividend of $0.12 per share, a 20% increase, payable on February 19, 2021. Shareholders of record as of the close of business on February 8, 2021 will receive this dividend. Chairman and CEO DeVan Ard, Jr. attributed this growth to a strong net interest margin and successful acquisitions, indicating a positive outlook for 2021 based on earnings momentum and loan demand.
Reliant Bancorp (RBNC) reported a net income of $12.2 million, or $0.73 per diluted share, for Q4 2020, up from $11.5 million in Q3 2020 and $4.1 million in Q4 2019. Adjusted net income per diluted share rose 4.3% from Q3 2020 and 55.3% from Q4 2019. The company increased its total assets to over $3.0 billion, driven by two acquisitions. Return on average assets improved to 1.60%, and return on average equity reached 15.48%. Nonperforming assets decreased by 4.6%. Customer deposits grew significantly, with non-time deposits up by 39% annually, bolstering liquidity.
Reliant Bancorp, Inc. (Nasdaq: RBNC) will announce its 2020 fourth quarter and year-end financial results on January 21, 2021, after market close. A conference call to discuss these results is scheduled for January 22, 2021, at 9:00 a.m. Central Time. The call will be accessible online. Reliant Bancorp operates through its subsidiary, Reliant Bank, providing a range of banking services across several counties in Tennessee.
Reliant Bancorp, Inc. (Nasdaq: RBNC) announced a quarterly cash dividend of $0.10 per share, payable on November 13, 2020, to shareholders of record as of November 6, 2020. This represents an 11.1% increase in dividends compared to the same quarter last year. The company reported strong performance in the first nine months of 2020, driven by a robust net interest margin and successful acquisitions. Chairman and CEO DeVan Ard, Jr. emphasized ongoing evaluation of future dividends in light of economic conditions impacted by the COVID-19 pandemic.
Reliant Bancorp, Inc. (Nasdaq: RBNC) reported a net income of $11.5 million, or $0.69 per diluted share, for Q3 2020, a significant increase from $4.0 million, or $0.36 per diluted share, in Q3 2019. Adjusted net income per share rose 16.7% from Q2 2020 and 84.2% year-over-year. Net interest income grew by 1.9% to $30.5 million, with a net interest margin of 4.54%. Gross loans increased by 7.0% annualized, with no reported charge-offs. Total consolidated assets reached approximately $3.0 billion, highlighting strong deposit growth and stable credit quality amidst pandemic challenges.
Reliant Bancorp, Inc. (Nasdaq: RBNC) announced it will release its 2020 third quarter financial results on October 22, 2020, after market close. A conference call to discuss the results is scheduled for October 23, 2020, at 9:00 a.m. Central Time, available via live webcast. Reliant Bank, a wholly-owned subsidiary, operates across various counties in Tennessee, offering a range of banking services. Investors can access more information and event links on the company's Investor Relations webpage.
Reliant Bancorp, Inc. (Nasdaq: RBNC) announced plans to release its 2020 second quarter financial results on July 23, 2020, post-market close. Investors can participate in a conference call to discuss the results on July 24, 2020, at 9:00 a.m. Central Time. The event will be streamed live and is accessible via Reliant's website under the 'Investor Relations' section. Operating in multiple Tennessee counties, Reliant Bank offers various financial services to both business and consumer clients, enhancing its local banking presence.
