Record Q3 Net Income of $5.1M, EPS $1.04 as Loans and Deposits Grow Double Digits
WRIV has more than doubled off its 52-week low of $16.1 on light trading volume (0.1× avg).
Summary
White River Bancshares posted record quarterly net income of $5.1 million, or $1.04 per diluted share, up from $4.2 million ($0.85) in Q2 and $3.5 million ($0.72) a year ago — a 44% year-over-year increase. Net interest income rose 11.9% to $14.3 million on 10.9% loan growth to $1.375 billion and 11.4% deposit growth to $1.432 billion, while the margin held flat at 3.59% quarter-over-quarter. Credit quality is clean: zero provision for credit losses this quarter versus $575,000 in Q2, with nonperforming loans at just 0.03% of total loans and $474,000 in net recoveries. Returns improved to 1.22% on assets and 16.40% on equity, and tangible book value per share climbed 10.2% to $24.10. The stock sits near its 52-week high at $32.69, roughly 1.36x tangible book, so the print supports the current valuation rather than resetting it.
At the time of this announcement, WRIV was trading at $32.69 on OTC in the Finance sector, with a market capitalization of approximately $159.3M. The 52-week trading range was $16.10 to $33.32. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.