WRIV - White River Bancshares GAAP EPS of $1.34 revenue of $9.92M

October, 18 2022 04:15 PM White River Bancshares Co

White River Bancshares press release ( OTCQX:WRIV ): Q3 GAAP EPS of $1.34.
Revenue of $9.92M (+13.4% Y/Y).
Third quarter net interest margin (“NIM”) expanded 23 basis points to 3.88%, compared to 3.65% in the third quarter a year ago.
Annualized return on average assets was 0.58%, compared to 0.95% in the third quarter a year ago.
Annualized return on average equity was 6.87%, from 9.80% in the third quarter a year ago.
The Company recorded a $410,000 provision for loan losses in the third quarter of 2022, compared to no provision for loan losses in the third quarter of 2021.
Net loans increased 17.9% to $780.5 million at September 30, 2022, compared to $661.7 million at September 30, 2021.
Total deposits increased 7.0% to $791.5 million at September 30, 2022, compared to $739.7 million a year ago.
Nonperforming assets totaled $153,000, or 0.02% of total assets at September 30, 2022, compared to $149,000, or 0.02% of total assets, at September 30, 2021.
Book value per common share was $75.73 at September 30, 2022, from $81.47 a year ago.
Total risk-based capital ratio was 13.57% and the Tier 1 leverage ratio was 11.53% for the Bank at September 30, 2022.
The Company paid a $1.00 per share annual cash dividend on August 31, 2022 to shareholders of record at the close of business on July 20, 2022.

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