Welcome to our dedicated page for Security Bancorp news (Ticker: SCYT), a resource for investors and traders seeking the latest updates and insights on Security Bancorp stock.
Security Bancorp, Inc. reports bank holding company developments tied to Security Federal Savings Bank of McMinnville, Tennessee. News commonly covers consolidated earnings, basic earnings per share, loan growth, deposit funding, stockholders’ equity, and changes in interest-bearing deposits and Federal funds sold.
Company updates also discuss credit quality measures such as non-performing assets, delinquent and classified loans, allowance for loan losses, and provision for credit losses. Recurring announcements include annual cash dividends on common stock and operating details for the Tennessee state-chartered financial institution serving the McMinnville market.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Security Bancorp, Inc. (SCYT) reported a net income of $877,000, or $2.34 per share, for Q3 2022, an increase from $671,000, or $1.79 per share, year-over-year. For the nine-month period, net income rose to $2.2 million from $2.0 million. Net interest income for Q3 was $2.4 million, up 26.3% year-over-year. However, non-interest income decreased by 34.9% to $451,000. Total assets stood at $291.1 million, a 1.6% decline from the previous year, and stockholders' equity decreased by 7.3% to $26 million.
Security Bancorp reported a net income of $744,000 ($2.03 per share) for Q2 2022, up from $627,000 ($1.72 per share) in Q2 2021. Year-to-date net income remained stable at $1.3 million. Net interest income rose 17.8% to $2.1 million for Q2 due to increased loan balances and rates. However, non-interest income decreased 17.7% for Q2 and 31.0%/b% for the first half of the year, primarily due to lower mortgage activity. Total assets grew to $298.2 million, while stockholders’ equity decreased 3.9% to $27.0 million.
Security Bancorp, Inc. (OTCBB:SCYT.OB) announced an annual cash dividend of $1.00 per share, payable on July 1, 2022, to shareholders recorded by June 1, 2022. As of March 31, 2022, the company reported total assets of $294.6 million and stockholders' equity of $26.9 million. This dividend reflects the corporation's ongoing commitment to return value to its shareholders while maintaining a solid financial foundation.
Security Bancorp, Inc. (SCYT) reported a net income of $567,000 for Q1 2022, down from $671,000 in Q1 2021, with a basic EPS of $1.55 compared to $1.84. Net interest income rose by 7.5% to $1.9 million, while non-interest income fell 42.9% to $392,000 due to decreased loan sales. Total assets decreased 0.40% to $294.6 million, but loans receivable increased 5.1% to $190.4 million. Stockholders’ equity declined to $26.9 million, representing 9.1% of total assets. Non-performing assets decreased to $281,000, showing a reduction in risk profile.
Security Bancorp, Inc. (OTCBB: SCYT) reported a net income of $671,000 or $1.79 per share for Q3 of fiscal 2021, a rise from $561,000 or $1.50 per share in Q3 2020. Year-to-date, net income stands at $2.0 million, up from $1.7 million, with earnings per share increasing to $5.26 from $4.38. Total assets grew 10.9% to $289.3 million, driven by increased deposits and commercial real estate loans. Non-interest income rose to $693,000, while non-interest expenses were $1.6 million, reflecting ongoing investment in services.
Security Bancorp, Inc. (SCYT) reported a net income of $627,000, or $1.72 per share, for the second quarter of 2021, up from $516,000, or $1.36 per share a year ago. For the six months, net income rose to $1.3 million, or $3.56 per share, compared to $1.1 million last year. However, net interest income fell by 2.7% to $3.6 million. Non-interest income rose significantly, reaching $608,000 for the quarter, attributed to increased loan sales. Total assets increased by 9% to $284.3 million, while deposits rose by 13.5% to $252.4 million.