2024-03-18 18:00:23 ET
Summary
- W.T.B. Financial has experienced a decline in share value due to the banking crisis and deposit outflow, but deposits have stabilized.
- W.T.B. Financial operates as a community/regional bank with operations in Washington, Idaho, and Oregon, a favorable geographic mix.
- NIM has been pressured by low-yielding fixed income securities, but as these mature and proceeds pay down higher-cost debt, earnings can approach $30 in 2026.
Shares of W.T.B. Financial ( WTBFB ) have been a poor performer over the past year, losing about 15% of their value, as it, like many regional and community banks, has been adversely impacted by last year’s banking crisis. WTB’s results have meaningfully deteriorated as it faced material deposit outflow in H1, which has since stabilized. I do expect the bank to see another year of lower earnings in 2024, though we should see sequential improvement from Q4 levels....
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W.T.B. Financial: Long-Term Potential Given Potential Balance Sheet Improvement