Welcome to our dedicated page for Solera Natl Bancorp news (Ticker: SLRK), a resource for investors and traders seeking the latest updates and insights on Solera Natl Bancorp stock.
Solera National Bancorp, Inc. (SLRK) is the holding company for Solera National Bank, a business-focused community bank in the Denver metropolitan area. The company’s news flow consists primarily of detailed quarterly and annual financial results, along with management commentary on strategy, technology, and customer relationships.
On this page, readers can review press releases where Solera reports metrics such as net income, pre-tax and pre-provision income, return on assets, return on equity, efficiency ratio, and asset quality indicators. These updates also discuss balance sheet composition, including loans, investment securities, deposits, borrowings, and capital ratios, giving insight into how the bank manages growth, funding, and credit risk over time.
Beyond the numbers, Solera’s news highlights developments in its business-focused banking model, including its work with emerging businesses and real estate investors and its presence in the self-directed retirement account space. Releases describe initiatives such as enhancements to business online and digital banking, integrations with major data aggregators, launch of an omnichannel customer service platform, live chat, and Prestige banking by Solera for concierge-style service.
Company communications also note external recognition, such as American Banker rankings of Solera National Bank among top-performing publicly traded banks under $2 billion in assets. Investors and observers can use this news feed to follow how management responds to interest rate conditions, funding costs, and regulatory expectations, as described in their own words. For ongoing context on SLRK, its performance, and its strategic priorities, this page aggregates the company’s official news releases in one place.
Solera National Bancorp (OTC PINK:SLRK) reported significant financial growth for the year ended December 31, 2021. Pre-tax, pre-provision income soared 66% to $16.2 million, while net income surged 89% to $11.1 million year-over-year. The efficiency ratio improved to 35.66%, and traditional gross loans increased 55% to $419.6 million. Noninterest-bearing deposits reached $464.1 million, rising 19% quarter-over-quarter. Asset quality remained strong with criticized assets at 4.32% and nonperforming assets at 1.02% of total assets. Total assets grew 50% to $651.2 million.
Solera National Bancorp (OTC PINK:SLRK) announced the appointment of Cheri Walz as Chief Financial Officer. CEO Scott Wilson expressed enthusiasm over her extensive 25-year banking experience and proven leadership skills. Walz, who has held senior roles in multiple banks, aims to enhance Solera's business model and competitive positioning. She holds several professional certifications, including CPA and CTP, and a Bachelor's in Accounting. Solera National Bank focuses on serving emerging businesses and real estate investors in the Denver area.
Solera National Bancorp (OTC PINK:SLRK) reported strong financial results for the third quarter and nine months ended September 30, 2021. Pre-tax, pre-provision income was a record $4.6 million, up from $4.0 million in Q2 2021. Year-to-date net income surged 107% to $8.47 million, while traditional gross loans rose 49% to $355 million. Noninterest-bearing deposits increased by 85% year-over-year, totaling $390.1 million. Total assets reached $551.9 million, a 36% increase compared to 2020. The efficiency ratio rose to 41.16% due to increased staffing.
Solera National Bancorp held its annual shareholder meeting on September 16, 2021, with 72.8% of shares represented. Shareholders elected seven directors, including Drew M. Quagliano and Michael D. Quagliano. Voting results showed significant support for each director, with the highest votes going to Aaron Vosmek at 3,019,797. Furthermore, Eide Bailly was ratified as the independent accounting firm for the fiscal year ending December 31, 2021, with 3,106,961 votes in favor.
Solera National Bancorp announced the termination of Martin P. May as President and CEO on July 22, 2021. Concurrently, Board members Philip J. Randell and Richard M. Thorne will not seek re-election after their terms end at the upcoming Annual Meeting on September 16, 2021. Kreighton Reed, previously Executive VP of Business Development, has been appointed as interim President and CEO. May's leadership saw the bank's size double and focus narrow, enhancing its national presence.
Solera National Bancorp (OTC PINK:SLRK) reported a strong second quarter 2021, with pre-tax income reaching a record $4.0 million, up from $3.2 million in Q1. Year-to-date net income soared 157% to $5.07 million compared to $1.97 million in the same period last year. Traditional gross loans grew by 7% while noninterest-bearing deposits surged 23%. Despite a healthy efficiency ratio of 33.8%, nonperforming assets increased to 1.28% of total assets. The company maintained a solid capital ratio of 9.6%. Earnings per share increased from $0.48 to $1.18 year-over-year.
Solera National Bancorp (OTC PINK: SLRK) reported a strong financial performance for Q1 2021, with total assets surpassing $500 million, reaching $551.12 million, a notable 26% increase from Q4 2020. Net interest income surged 61% year-over-year to $4.3 million, while net income rose to $2.0 million, or $0.47 per share. Despite a decline in net interest margin to 3.79%, noninterest-bearing deposits increased 16% to $272.3 million. The efficiency ratio remained steady at 32%. However, the provision for loan losses rose to $605,000, reflecting ongoing economic uncertainties.