WRIV - White River Bancshares GAAP EPS of $0.78 revenue of $8.84M

July, 17 2023 10:13 AM White River Bancshares Co

2023-07-17 10:13:27 ET

White River Bancshares press release ( OTCQX:WRIV ): Q2 GAAP EPS of $0.78.
Revenue of $8.84M (-10.0% Y/Y).
Second quarter net interest margin (“NIM”) was 3.02%, compared to 3.87% in the second quarter a year ago.
The Company recorded a $225,000 provision for credit losses in the second quarter of 2023, compared to no provision in the second quarter of 2022.
Net loans increased 21.7% to $863.5 million at June 30, 2023, compared to $709.3 million at June 30, 2022.
Nonperforming assets totaled $93,000, or 0.01% of total assets at June 30, 2023, compared to $185,000, or 0.02% of total assets, at June 30, 2022.
Total deposits increased 14.2% to $888.2 million at June 30, 2023, compared to $778.1 million a year ago.
Core deposits (demand and non-interest-bearing, and savings and interest-bearing transaction accounts) represent 62.8% of total deposits at June 30, 2023.
The Bank’s uninsured deposits totaled approximately 30.4% of total deposits at June 30, 2023, unchanged compared to March 31, 2023.
Available borrowing capacity totaled $364.8 million at June 30, 2023, compared to $325.1 million at March 31, 2023.
Total risk-based capital ratio was 12.74% and the Tier 1 leverage ratio was 10.03% for the Bank at June 30, 2023.
Tangible book value per common share was $74.36 at June 30, 2023, compared to $76.40 a year ago.

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