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WHITE RIVER BANCSHARES CO - $WRIV STOCK NEWS

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Rhea-AI Summary

White River Bancshares Company completed a private placement of $12.46 million of common shares to accredited investors at $55.00 per share. The capital raise will support organic and strategic growth opportunities, aiding the expansion of the bank throughout Arkansas. The offering was managed by Performance Trust Capital Partners and legal counsel was provided by Holland & Knight LLP and Troutman Pepper Hamilton Sanders LLP.

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Rhea-AI Summary
White River Bancshares Co. reported net income of $509,000, or $0.51 per diluted share, in the first quarter of 2024, up from $340,000 in the same period last year. The company's net interest income increased, along with double-digit loan and deposit growth year-over-year. Strategic moves to diversify deposit and loan portfolios have paid off, with successful expansions into new markets and strong loan demand. The Company's NIM is stable, with robust loan growth and a focus on new customer relationships. Non-interest bearing deposits are expected to grow further, with a healthy balance sheet showing increased assets and equity. The Company remains well-capitalized, exceeding regulatory requirements, and continues to focus on credit quality while expanding into new markets, like the Hispanic and Latino communities through Banco Sí.
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White River Bancshares Company (WRIV) reported net income of $788,000 in Q4 2023, down from $1.42 million in Q4 2022. The company experienced growth in its loan portfolio but saw a decline in net interest margin. Total assets increased to $1.133 billion, with a 15.3% increase in deposits. However, the company's net income for the full year of 2023 was $2.55 million, compared to $5.62 million in 2022.
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White River Bancshares Company (OTCQX: WRIV) has reinstated its Stock Repurchase Program, allowing the repurchase of up to 5% of outstanding shares. The program has no time limit and may be modified, suspended or terminated at any time by the Board of Directors.
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WHITE RIVER BANCSHARES CO

OTC:WRIV

WRIV Rankings

WRIV Stock Data

57.53M
8.86%
Banks - Regional
Financial Services
Link
United States of America
Fayetteville