Welcome to our dedicated page for White Riv Bancshares Co news (Ticker: WRIV), a resource for investors and traders seeking the latest updates and insights on White Riv Bancshares Co stock.
White River Bancshares Company (OTCQX: WRIV) is the holding company for Signature Bank of Arkansas, a community bank headquartered in Fayetteville, Arkansas. This news page aggregates Company-issued announcements and other coverage related to WRIV stock and the Bank’s activities across its Arkansas markets.
In its public releases, White River Bancshares Company regularly reports on quarterly and annual financial results, including net income, net interest income, net interest margin, loan growth, deposit trends and credit quality metrics. Management commentary often discusses loan demand in the Bank’s markets, the composition of deposits, the allowance for credit losses and capital ratios that the Bank states exceed regulatory “well-capitalized” thresholds.
Readers can also find news about strategic and corporate actions, such as annual cash dividend declarations, a two-for-one stock split effected through a stock dividend, and the completion of a private placement of common shares to accredited investors. The Company uses these announcements to describe how it intends to support organic and strategic growth opportunities and to explain its approach to shareholder returns.
Other recurring themes in WRIV news include the expansion of Signature Bank of Arkansas into markets such as Harrison and Jonesboro, the development of the Banco Sí division focused on Hispanic and Latino communities, and commentary on the economic environment in Northwest Arkansas and other served counties. For investors and observers following WRIV, this page offers a centralized view of earnings releases, capital actions, market expansion updates and management’s perspective on community banking in Arkansas.
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White River Bancshares Company (OTCQX: WRIV) reported a net income of $340,000, or $0.34 per diluted share, in Q1 2023, a decline from $1.07 million, or $1.08 per share, in Q1 2022. Compared to the previous quarter, net income fell from $1.42 million. The net interest margin shrank to 3.16% from 3.58% year-over-year, primarily due to rising funding costs. However, total deposits increased by 14.7% year-over-year to $890.8 million, and net loans rose 23.3% to $838.9 million. A $150,000 provision for credit losses was recorded, contrasting with no provision in Q1 2022. The company continues to expand its market presence, including the launch of its bilingual banking initiative, Banco Sí. Despite challenges, asset quality remains strong with nonperforming assets at only 0.01% of total assets.
White River Bancshares Company (OTCQX: WRIV), parent of Signature Bank of Arkansas, reported a fourth quarter 2022 net income of $1.42 million, a decrease from $1.50 million in Q4 2021. Full year net income declined to $5.62 million compared to $7.05 million in 2021. Notably, total deposits rose 11.6% to $810.6 million, with a significant loan increase of 20.6% to $826.7 million. The company also recorded a $350,000 provision for loan losses. Despite rising expenses and challenges in noninterest income, the bank's net interest margin improved to 3.80%. The company aims to expand its presence in newly opened markets for 2023.
White River Bancshares Company (OTCQX: WRIV) reported a net income of $1.33 million in Q3 2022, a decline from $1.93 million in Q3 2021. Year-to-date, net income fell to $4.19 million compared to $5.56 million in the same period last year. Notably, net interest margin expanded by 23 basis points, reaching 3.88%. Total deposits rose 7.0% to $791.5 million, while total loans increased by 17.9% to $780.5 million. The company also launched Banco Sí!, targeting the Hispanic community. A provision for loan losses of $410,000 was recorded, reflecting strong loan growth.
White River Bancshares Company (OTCQX: WRIV) declared an annual cash dividend of $1.00 per share, payable on August 31, 2022, to shareholders of record on July 20, 2022. This represents a 100% increase compared to last year’s dividend of $0.50 per share. In Q2 2022, the Company reported net income of $1.79 million or $1.79 per diluted share, a decline from $2.08 million or $2.14 per diluted share in the same quarter of 2021. However, the Company experienced record net interest income and growth in loans and deposits.
White River Bancshares Company (OTCQX: WRIV) reported net income of $1.79 million, or $1.79 per diluted share, for Q2 2022, down from $2.08 million in Q2 2021. Year-to-date net income was $2.9 million, compared to $3.6 million in 2021. Loan growth was strong at 10.2%, while total deposits increased by 13.4%. The company noted a 25% rise in non-interest bearing deposits, contributing to improved net interest margin (NIM) of 3.87%, up from 3.56% a year ago. However, overall income was impacted by reduced PPP income and increased expenses related to employee retention and new market expansions.
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