Taylor Calvin B Bankshares Inc Stock Price, News & Analysis

Taylor Bank (TYCB) celebrated its 135th anniversary with a community event called "Hot Summer Swing and Taylor Bank Cheers to 135 Years!" in Berlin, MD. The celebration featured live entertainment, prize giveaways including a grand prize of $1,135, and family activities.

As part of the celebration, the bank announced its 2025 For Good Grants, awarding $5,000 to each of three organizations: Eastern Shore Coalition Against Domestic Violence, Village of Hope, and Cancer Support Community DE. These grants aim to support community programs focused on domestic violence prevention, transitional housing, and cancer support services.

Calvin B. Taylor Bankshares (OTCQX:TYCB) reported strong Q1 2025 results with net income of $3.7M ($1.36/share), up from $3.5M in Q4 2024 and $3.0M in Q1 2024. The bank demonstrated solid growth with loans increasing 8.0% YoY and deposits up 9.4% YoY. Net interest margin expanded to 3.73%, while ROAA improved to 1.62%. A significant highlight was the $1.9M gain from selling excess land, with proceeds reinvested in a new Cape Charles, Virginia branch. Credit quality improved with past due loans decreasing to 0.29%. The bank maintains strong liquidity with cash and unencumbered debt securities at 29.4% of total deposits, and remains well-capitalized according to regulatory standards.

Calvin B. Taylor Bankshares (OTCQX:TYCB) has announced a quarterly cash dividend increase to $0.37 per share for Q1 2025, representing a 2.8% increase from the previous quarter and a 5.7% rise year-over-year. The dividend will be paid on May 1, 2025, to stockholders of record as of April 21, 2025.

CEO M. Dean Lewis highlighted the company's commitment to providing stable returns to stockholders despite market volatility. He noted that successful growth in loans and deposits during 2024 has positioned the bank with a strong balance sheet and ample liquidity for executing strategic priorities aimed at maximizing earnings and stockholder value.

Calvin B. Taylor Bankshares (OTCQX:TYCB) reported Q4 2024 net income of $3.5 million ($1.29 per share), compared to $3.7 million in Q3 2024 and $2.7 million in Q4 2023. Full-year 2024 net income was $13.1 million ($4.77 per share), slightly down from $13.5 million in 2023.

Key highlights include:

• Loans grew 6.2% in Q4 2024 and 9.5% year-over-year
• Deposits increased 10.1% ($75.2 million) in 2024
• Net interest margin expanded to 3.67% in Q4 2024
• Total stockholders' equity improved by $8.9 million (8.5%) in 2024
• Book value reached $42.01 per share with market value at $48.00

The bank completed a successful core system conversion in Q4 2024 and plans to open its 12th branch in Cape Charles, Virginia in 2025. M. Dean Lewis succeeded Raymond M. Thompson as CEO, marking the bank's 135th anniversary year.

Calvin B. Taylor Bankshares (OTCQX:TYCB) has announced a quarterly cash dividend of $0.36 per share for Q4 2024. The dividend will be paid on February 6, 2025 to stockholders of record as of the close of business on January 27, 2025. The announcement comes from the company's Board of Directors, which declared this regular quarterly payment to shareholders.

Calvin B. Taylor Bankshares (OTCQX:TYCB) reported Q3 2024 net income of $3.7 million ($1.37 per share), compared to $2.8 million ($1.03 per share) in Q2 2024 and $4.1 million ($1.50 per share) in Q3 2023. Key highlights include:

- Net interest margin expanded to 3.58% in Q3 2024 from 3.48% in Q2 2024
- Total deposits increased $56.0 million (7.1%) compared to June 2024
- Strong efficiency ratio of 46.6% in Q3 2024
- Return on Average Assets of 1.59% for Q3 2024

Year-to-date net income through September 2024 was $9.5 million ($3.47 per share), compared to $10.7 million ($3.90 per share) for the same period in 2023. The company maintains strong capitalization with Tier 1 capital exceeding well-capitalized threshold by $37.4 million.

Calvin B. Taylor Bankshares, Inc. (OTCQX:TYCB), the parent company of Calvin B. Taylor Bank, has announced an increase in its quarterly cash dividend. The Board of Directors has declared a regular quarterly cash dividend of $0.36 per share for the third quarter of 2024, representing a $0.01 increase compared to the previous quarter. This dividend will be payable on October 31, 2024 to stockholders of record as of the close of business on October 21, 2024. The increase in dividend demonstrates the company's commitment to delivering value to its shareholders and may indicate confidence in its financial performance.

Calvin B. Taylor Bankshares, holding company of Calvin B. Taylor Bank, announced its financial results for the second quarter and first half of 2024. The company reported a 2Q24 net income of $2.8 million or $1.03 per share, down from $3.0 million or $1.08 per share in 1Q24, and $3.3 million or $1.19 per share in 2Q23. For the first half of 2024, net income was $5.8 million or $2.11 per share, compared to $6.6 million or $2.40 per share for the same period in 2023.

Key highlights include a ROAA of 1.29% for 2Q24, a net interest margin of 3.48%, and organic loan growth of $9.5 million in 2Q24. Total deposits increased by $32.0 million, with noninterest-bearing deposits rising by $18.9 million.

Net interest income decreased by 2.9% year-over-year but increased by 5.1% from the prior quarter. Noninterest income fell by 32.3% year-over-year, mainly due to a decrease in bank-owned life insurance income. Noninterest expenses rose by 4.8% year-over-year. The efficiency ratio for 2Q24 was 50.57%, and the allowance for credit losses remained stable at 0.63% of total loans.

Calvin B. Taylor Bankshares, Inc. (OTCQX:TYCB), parent company of Calvin B. Taylor Bank, has announced two key appointments. Philip O'Neil has been named Executive Vice President and Chief Financial Officer of the Bank, while Adam James has been promoted to Senior Vice President and Senior Credit Officer.

O'Neil, a Certified Public Accountant and Frostburg State University graduate, previously served as EVP and Chief Accounting Officer for Shore United Bank. He will succeed M. Dean Lewis, who will become President and CEO of Taylor Bank on January 1st, 2025, following Raymond M. Thompson's retirement.

James, who joined the Bank in 2017, has been instrumental in the bank's expansion on the Eastern Shore of Virginia. In his new role, he will oversee the Loan Operations and Credit Administration departments.

These appointments are seen as strategic moves to support the bank's continued growth and operations.