Welcome to our dedicated page for U & I Financial news (Ticker: UNIF), a resource for investors and traders seeking the latest updates and insights on U & I Financial stock.
U & I Financial Corp. (OTCQX: UNIF), the holding company for UniBank, regularly publishes detailed financial and operational updates that are reflected on this news page. UniBank, founded in 2006 and based in Lynnwood, Washington, serves small to medium-sized businesses, professionals, and individuals across the United States, with a particular emphasis on government guaranteed loan programs. The bank operates four branches in Lynnwood, Bellevue, Federal Way and Tacoma, and also provides online and ATM access.
News coverage for UNIF commonly includes quarterly and annual financial results, where the company reports net income or loss, net interest income, provisions for credit losses, non-interest income and expenses, and key performance ratios. These releases also provide extensive data on loan portfolio composition, asset quality metrics such as non-accrual loans and net charge-offs, and regulatory capital ratios including Tier 1 Leverage, Common Equity Tier 1, Tier 1 Risk-Based Capital and Total Risk-Based Capital ratios.
Another recurring theme in U & I Financial Corp. news is credit quality, particularly developments in the commercial-equipment loan segment. The company has reported credit deterioration, significant charge-offs, changes in the Allowance for Credit Losses on Loans and Off-Balance Sheet Credit Exposure, and related litigation involving borrowers and an equipment manufacturer. Leadership and governance updates, such as the appointment of a permanent Chief Executive Officer, new directors, and a Chief Credit Officer, are also announced through press releases.
Investors, depositors and other stakeholders can use this news feed to follow UniBank’s financial performance, balance sheet trends, capital position and risk management actions over time. Regularly reviewing these updates helps readers understand how the bank is addressing credit challenges, managing capital and serving its customer base in the commercial banking sector.
U & I Financial Corp. (OTCQX:UNIF) reported record third-quarter earnings of $3.0 million ($0.55 per share), a 29.3% increase from $2.3 million ($0.42 per share) in Q3 2021. Total assets rose by 26.0% to $551.5 million, while net loans increased 36.2% to $433.5 million, and total deposits grew 28.5% to $469.3 million. The return on average assets improved to 2.16%. However, CEO Peter Park cautioned that inflation and interest rate conditions may moderate loan demand and profitability in coming quarters.
U & I Financial Corp. (OTCQX:UNIF) announced a cash dividend of $0.10 per common share, payable on or about October 21, 2022, to shareholders of record by October 7, 2022. The decision to distribute dividends reflects the Bank's strong performance amidst economic uncertainties, according to President and CEO Peter Park, who anticipates dividends will continue semi-annually. UniBank, a wholly-owned subsidiary, is recognized for its high performance in Washington, focusing on government-backed loan programs.
U & I Financial Corp. (OTCQX:UNIF) reported record earnings of $2.6 million ($0.48 per share) for Q2 2022, up from $2.2 million ($0.41) a year prior. Total assets rose by 25.4% to $522.9 million, while net loans surged 53.6% to $421.7 million. Deposits increased by 22.9% to $427.5 million. Despite robust growth, the CEO cautioned about uncertainty in future growth due to inflation and recession risks but emphasized a commitment to expanding their business bank services nationwide.
U & I Financial Corp. (OTCQX:UNIF) reported record quarterly earnings of $2.1 million or $0.37 per share in Q1 2022, up from $1.6 million or $0.29 per share in Q1 2021, driven by increased net interest income. Total assets grew 16.3% to $479.1 million, net loans rose 19.0% to $352.3 million, and total deposits climbed 16.7% to $399.4 million. The company also announced a cash dividend and a stock repurchase program, reflecting confidence in long-term value despite potential economic challenges.
U & I Financial Corp. (OTCQX:UNIF) announced a cash dividend of $0.10 per common share, payable on or about April 14, 2022, to stockholders of record by March 31, 2022. This decision reflects the Board's commitment to reward shareholders after years of steady growth. President and CEO Peter Park indicated that, economic conditions permitting, dividends will continue to be issued on a semi-annual basis. UniBank, as a subsidiary, focuses on serving small to medium-sized businesses and ethnic minority communities in Washington state.
U & I Financial Corp. (OTCQX:UNIF) reported record fourth quarter earnings of $2.3 million or $0.41 per share, up from $1.8 million or $0.33 per share a year earlier. For 2021, net income reached $8.5 million or $1.53 per share, an increase of $2.3 million year-over-year. Total assets grew by 12.8% to $455.7 million, while net loans and deposits also saw significant growth. The company initiated a stock repurchase program to enhance liquidity and plans to invest in infrastructure amid ongoing industry challenges.
U & I Financial Corp. (OTCQX:UNIF) has authorized a stock repurchase program, allowing for the buyback of up to $3.0 million of its common stock starting December 1, 2021. CEO Peter Park stated this initiative aims to enhance shareholder value amid market undervaluation. The repurchase will occur through various methods, adhering to SEC rules. The program's execution may vary based on market conditions and management decisions. U & I Financial, through its subsidiary UniBank, focuses on serving small to medium-sized businesses and ethnic minority communities in Washington.
U & I Financial Corp. (OTCQX:UNIF) reported record quarterly earnings of $2.3 million or $0.42 per share for Q3 2021, a 48.9% increase from $1.6 million or $0.28 per share in Q3 2020. Total assets grew 11.4% to $437.6 million, with net loans at $318.2 million, up 13.4%. Total deposits reached $365.2 million, an 11.1% increase. Year-to-date net income rose 41.1% to $6.2 million. The company plans to continue investing to achieve $500 million in total assets soon.
U & I Financial Corp. (OTCQX:UNIF) reported strong second-quarter earnings of $2.2 million or $0.41 per share, up 54.1% from $1.5 million or $0.26 per share a year earlier. Total assets reached a record $417.1 million, a 9.6% increase year-over-year. While net loans fell 2.5% to $274.5 million due to PPP loan forgiveness, loans held for sale surged to $20.3 million. Total deposits rose 11.0% to $347.8 million. The company reported a net interest margin of 4.32% with a return on average equity of 12.86%.
U & I Financial Corp. (OTCQX:UNIF) reported strong first-quarter earnings for 2021, with a net income of $1.6 million ($0.29 per share), an 18.3% increase from $1.4 million ($0.25 per share) in Q1 2020. Total assets rose to $411.9 million, up 16.4% year-over-year. Net loans increased by 23.1% to $296.1 million, while total deposits grew 17.0% to $342.3 million. The net interest margin expanded to 4.09%. The company remains a leading SBA and USDA lender amidst economic recovery, expressing optimism for future growth.
FAQ
What is the current stock price of U & I Financial (UNIF)?
What is the market cap of U & I Financial (UNIF)?
