Welcome to our dedicated page for White Riv Bancshares news (Ticker: WRIV), a resource for investors and traders seeking the latest updates and insights on White Riv Bancshares stock.
White River Bancshares Company reports news as the OTCQX-traded holding company for Signature Bank of Arkansas, a community bank serving small businesses, families and farms in Arkansas. Recurring updates cover bank earnings, loan growth, net interest income, net interest margin, credit quality, noninterest income and regulatory capital ratios.
Company announcements also include capital actions such as annual cash dividends, common-stock split activity and subordinated debt issuance. Coverage centers on the bank's Arkansas market footprint, balance-sheet growth, shareholder distributions and the capital measures used by a bank holding company.
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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.
White River Bancshares Company (OTCQX: WRIV) reported a net income of $1.07 million in Q1 2022, down from $1.55 million a year earlier. Total deposits rose by 13.8% to $776.7 million, with non-interest bearing deposits increasing 39.9%. Net loans also increased by 7.1% year-over-year. However, operating expenses rose due to market expansion, and return on average assets decreased to 0.51% from 0.82% a year prior.
White River Bancshares Company (OTCQX: WRIV) reported a remarkable 18.4% increase in net income for Q4 2021, reaching $1.50 million or $1.50 per diluted share, compared to the previous year. The annual net income surged 84.4% to a historic $7.05 million. Key growth metrics included 12.7% loan growth and 15.7% deposit growth, highlighting a strong performance in a rapidly expanding market. Nonperforming assets rose to 0.11% of total assets, with a significant increase in noninterest bearing deposits by 34.8%. The Bank maintains a robust capital position, exceeding regulatory requirements.
White River Bancshares Company (OTCQX: WRIV) reported a strong third quarter for 2021, with net income rising 67.4% to $1.93 million or $1.99 per diluted share, compared to $1.15 million in Q3 2020. Year-to-date net income more than doubled to $5.56 million. The company announced a $0.50 annual cash dividend, reflecting robust banking performance. Key metrics show a 12.5% increase in net loans and a 16.9% rise in total deposits. Nonperforming assets were minimal at 0.02% of total assets. The net interest margin expanded to 3.64%, bolstered by low-cost deposits.