Business
Coeur d’Alene Bancorp Announces Its Third Quarter and Year to Date 2022 Results
Coeur d’Alene Bancorp Announces Its Third Quarter and Year to Date 2022 Results.
About this update from Coeur D Alene Bancorp
[{"type":"text","content":"COEUR D'ALENE, ID / ACCESSWIRE / October 12, 2022 / Coeur d'Alene, Idaho: Coeur d'Alene Bancorp (OTC PINK:CDAB), the parent company of bankcda, is pleased to announce its results for the third quarter 2022 and year to date 2022.Coeur d'Alene Bancorp today reported net income for third quarter 2022 of $694,540 or $0.37 per share compared to $433,810 or $0.23 per share for third quarter 2021 and $413,517 or $0.22 per share in the linked quarter. Net income for nine months ended September 30, 2022, totaled $1,339,312 or $0.71 per share, compared to $1,362,239 or $0.72 per share, for nine months ended 2021. All results are unaudited.As of September 30, 2022, total consolidated assets increased 4.4% during the quarter, ending at $262.3 million; and increased 9.3% from $240.0 million at September 30, 2021. Gross loans increased 2.5% ending the quarter at $98.89 million, and increased 17.8% from $83.97 million at September 30, 2021, primarily in the 1-4 family real estate, owner occupied commercial real estate, and commercial and industrial portfolios. Total investment in debt securities increased $5.9 million ending the quarter at $110.4 million net of unrealized losses of $7.8 million. Core deposits grew 10.85% during the quarter and represent 100% of total deposits. Shareholder equity was $8.63 at September 30, 2022, down from $9.13 at June 30, 2022 and $11.48 at September 30, 2021. These decreases are primarily due to an increase in the unrealized holding loss on securities available for sale resulting from higher market interest rates, impacting tangible book value by $2.80 per share during 2022.Financial Highlights:Diluted earnings per share $0.70 for nine months ended 2022 versus $0.71 per share for nine months ended 2021.Net book value per share decreased to $8.63 compared to $11.48 from one year ago and $9.13 per share for the linked quarter.Annualized return on average asset (ROAA) was 0.70% and annualized return on average equity (ROAE) was 9.63% for nine months ended 2022, compared to 0.82% and 8.61% for nine months ended 2021, respectively.Total assets ended the quarter at $262.3 million compared to $240.0 million as of September 30, 2021, an increase of 9.3%.Gross loans were $98.89 million at quarter end, versus $83.97 million at September 30, 2021, and $96.46 million at June 30, 2022.Total deposits were $241.5 million at...