Q3 Net Income Climbs to $10.9M as Loans Jump 12%
CBK sits 38% above its 52-week low of $23.235.
Summary
Q3 net income came in at $10.9M, or $0.79 per diluted share, up from $9.5M and $0.77 a year earlier. Pre-tax income rose 12.5% to $13.8M and net interest income grew 9.5%, so the gain is spread-driven rather than one-off. The balance sheet expanded too: loans reached $2.0B, up 12.2% year over year, deposits hit $1.9B, up 6.0%, and total assets stand at $2.4B. This extends the trend from Q2, when net income rose 15% to $10.2M and the company lifted its quarterly dividend 20% to $0.12 a share. For a roughly $438M market cap bank, $10.9M of quarterly earnings is meaningful, and the loan growth is the part that feeds future interest income.
At the time of this announcement, CBK was trading at $32.00 on NASDAQ in the Finance sector, with a market capitalization of approximately $438.4M. The 52-week trading range was $23.24 to $35.78. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Wiseek News.