Welcome to our dedicated page for SVB & T news (Ticker: SVBT), a resource for investors and traders seeking the latest updates and insights on SVB & T stock.
SVB&T Corporation is the OTCQX-traded parent company of Springs Valley Bank & Trust Company, a full-service banking institution serving counties in southern Indiana. Company news centers on unaudited quarterly and annual earnings, earnings per share, return on average assets, and board-declared cash dividends on common stock.
Recurring updates also describe Springs Valley's deposit accounts, certificates of deposit, electronic banking, consumer and mortgage applications, loan offerings, trust services, financial advisory work, estate and tax planning, wealth management, and investment services. Banking-related disclosures frequently address mortgage conditions, servicing fees, provision expense, funding costs, local real estate trends, interest rates, capital markets, competition, and regulatory conditions.
Summary not available.
Summary not available.
SVB&T Corporation (OTCQX:SVBT) reported unaudited fourth quarter earnings for 2022 of $1.43 million, or $1.30 EPS, representing a 17.12% increase year-over-year. The return on average assets stood at 1.06%, up from 0.98% a year earlier. A quarterly dividend of $0.18 was declared, reflecting a 12.50% annualized increase. Net interest income for Q4 was $4.87 million, a rise from $4.73 million the previous year, driven by increased loan balances amid a higher rate environment. Total assets grew by $70.47 million to $560.57 million, and total loans increased by $65.82 million. YTD earnings were $6.35 million, down 13.73% from 2021, amidst rising interest expenses.
SVB&T Corporation (OTCQX:SVBT) reported Q3 2022 earnings of $1.62 million, down 15.52% year-over-year, translating to $1.47 per share. Return on average assets (ROAA) decreased to 1.23%. This decline is mainly due to the cessation of the SBA's Paycheck Protection Program and rising interest rates affecting mortgage lending. Total assets grew to $522.14 million, while total loans increased to $425.05 million. The Board declared a quarterly dividend of $0.16 per share, reflecting an 18.52% annualized increase. Noninterest expenses rose significantly, impacting net earnings.
SVB&T Corporation (OTCQX:SVBT) reported unaudited second quarter earnings of $1.52 million or $1.38 EPS, reflecting a 24.59% drop from the previous year's quarter. The return on average assets (ROAA) decreased to 1.16% compared to 1.61% in Q2 2021. The decline is linked to the end of the SBA's Paycheck Protection Program and rising interest rates affecting mortgage lending. Total assets rose to $519.12 million, while loans increased to $414.82 million. The Board declared a quarterly dividend of $0.16 per share, an 18.52% annualized increase from 2021.
Summary not available.
SVB&T Corporation has appointed J. Craig Buse as a Board Director for both the corporation and Springs Valley Bank & Trust Company, effective May 18, 2022. This move is part of the formal succession plan as President & CEO Jamie Shinabarger prepares for retirement at the end of 2024. Buse, who joined Springs Valley in 2002, brings over two decades of banking experience and will help oversee policy establishment and annual budget approvals. His accolades include the Rising Star award and recognition as one of Banking Exchange's 20 Under 40.
SVB&T Corporation (OTCQX:SVBT) announced a quarterly dividend of $0.16 per share, to be paid on or about July 15, 2022, for shareholders of record as of June 15, 2022. This dividend reflects an 18.52% annualized increase compared to the previous fiscal year, adjusted for the recent stock split.
The company operates Springs Valley Bank & Trust Company, offering a variety of financial services in multiple counties.
SVB&T Corporation (OTCQX:SVBT) reported first-quarter 2022 unaudited earnings of $1.79 million, translating to earnings per share (EPS) of $1.63, marking an 18.50% decrease from the prior year. The return on average assets (ROAA) stood at 1.42%, down from 1.79% year-over-year. Net interest income fell to $4.43 million, while noninterest income rose to $2.39 million. Total assets increased to $515.80 million, with total loans reaching $399.90 million. The corporation completed a 2-for-1 stock split to boost stock liquidity. CEO Jamie Shinabarger emphasized focus on managing the balance sheet amid rising interest rates.
SVB&T Corporation (OTCQX:SVBT) has announced a two-for-one stock split in the form of a stock dividend, set to pay on March 10, 2022, to shareholders recorded by March 1, 2022. This stock split will increase the outstanding shares from 550,072 to approximately 1.1 million. Additionally, the company declared a quarterly cash dividend of $0.16 per share (post-split), reflecting an 18.52% annualized increase over the previous fiscal year. The dividend will be payable on April 15, 2022, for shareholders recorded by March 18, 2022.