Day: January 28, 2021

MANISTIQUE, Mich., Jan. 28, 2021 (GLOBE NEWSWIRE) — Mackinac Financial Corporation (Nasdaq: MFNC) (the “Corporation”), the bank holding company for mBank, today announced 2020 net income of $13.47 million, or $1.27 per share, compared to 2019 net income of $13.85 million, or $1.29 per share. The Corporation had fourth quarter 2020 net income of $3.64 million, or $.35 per share, compared to 2019 fourth quarter net income of $3.30 million, or $.31 per share.  Total assets of the Corporation at December 31, 2020 were $1.50 billion, compared to $1.32 billion at December 31, 2019. Shareholders’ equity at December 31, 2020 totaled $167.86 million, compared to $161.92 million at December 31, 2019. Book value per share outstanding equated to $15.99 at the end of the fourth quarter 2020, compared to $15.06 per share outstanding a year ago....

Net income for the three months ended December 31, 2020 was $5.52 million compared to $5.05 million for the three months ended December 31, 2019 and included a $679,000 reversal in loan loss provisionsFully-diluted earnings per share for the three months ended December 31, 2020 was $0.60 per share compared to $0.54 per share for the three months ended December 31, 2019.Return on average assets rose to 1.04% for the three months ended December 31, 2020 compared to 0.96% for the three months ended December 31, 2019.A $1,000 year-end bonus was paid to non-management employees at the end of 2020 for their work during the pandemic.Board of Directors approved a quarterly cash dividend of $0.23 per share, representing Territorial Bancorp Inc.’s 44th consecutive quarterly dividend.HONOLULU, Jan. 28, 2021 (GLOBE NEWSWIRE) — Territorial Bancorp...

4th Quarter 2020 Highlights:Record net income of $81.9 million, an increase of $24.5 million, or 43 percent, over the prior year fourth quarter net income of $57.4 million.Diluted earnings per share of $0.86, an increase of 39 percent from the prior year fourth quarter diluted earnings per share of $0.62.Gain on sale of loans of $26.2 million, increased $16.1 million, or 159 percent, compared to the prior year fourth quarter.Bank loan modifications related to the coronavirus disease of 2019 (“COVID-19”) decreased $371 million from the prior quarter and decreased $1.420 billion from the second quarter to $94.9 million, or 93 basis points of loans excluding the PPP loans.Non-performing assets as a percentage of subsidiary assets was 0.19 percent, which compared to 0.25 percent in the prior quarter and 0.27 percent in the prior year fourth...

BOCA RATON, Fla., Jan. 28, 2021 (GLOBE NEWSWIRE) — Jushi Holdings Inc. (“Jushi” or the “Company”) (CSE: JUSH) (OTCMKTS: JUSHF), a vertically integrated, multi-state cannabis operator, announced that a portion of certain eligible Senior Secured Notes due January 15, 2023 (the “Notes”) will be redeemed on January 31, 2021 (the “Redemption Date”).On January 7, 2021, Jushi announced that it closed an offering of subordinate voting shares of an aggregate of 6,210,000 subordinate voting shares at a price of C$6.50 per share for total gross proceeds of approximately C$40,365,000 or US$31,808,511, which included the full exercise of the over-allotment option granted to the underwriters (the “Offering”). Pursuant to the terms of the Notes, the Company was required to offer to repurchase eligible Notes at par plus accrued and unpaid interest,...

Southampton, PA, Jan. 28, 2021 (GLOBE NEWSWIRE) — Quaint Oak Bancorp, Inc. (the “Company”) (OTCQB: QNTO), the holding company for Quaint Oak Bank (the “Bank”), announced today that net income for the quarter ended December 31, 2020 was $1.1 million, or $0.54 per basic and $0.53 per diluted share, compared to $597,000, or $0.30 per basic and $0.29 per diluted share for the same period in 2019. Net income for the year ended December 31, 2020 was $3.2 million, or $1.64 per basic and $1.61 per diluted share, compared to $2.5 million, or $1.27 per basic and $1.24 per diluted share for the same period in 2019. Robert T. Strong, President and Chief Executive Officer stated, “It is my pleasure to present the final Earnings Release of 2020.  In a tumultuous year offering many unknowns, we experienced a year of both growth and expansion. ...

BIRMINGHAM, Ala., Jan. 28, 2021 (GLOBE NEWSWIRE) — First US Bancshares, Inc. (Nasdaq: FUSB) (the “Company”), the parent company of First US Bank (the “Bank”), today reported net income of $1.0 million, or $0.15 per diluted share, for the quarter ended December 31, 2020 (“4Q2020”), compared to $0.4 million, or $0.06 per diluted share, for the quarter ended September 30, 2020 (“3Q2020”) and $1.2 million, or $0.18 per diluted share, for the quarter ended December 31, 2019 (“4Q2019”). For the year ended December 31, 2020, the Company’s net income totaled $2.7 million, or $0.40 per diluted share, compared to $4.6 million, or $0.67 per diluted share, for the year ended December 31, 2019.Growth in net income comparing 4Q2020 to the previous quarter of 2020 was driven by improved net interest income and reduced loan loss provisioning and...

BAYONNE, N.J., Jan. 28, 2021 (GLOBE NEWSWIRE) — BCB Bancorp, Inc. (the “Company”), (NASDAQ: BCBP), the holding company for BCB Community Bank (the “Bank”), today reported net income of $20.9 million for the year ended December 31, 2020, compared with $21.0 million for 2019. Earnings per diluted share for 2020 were $1.14, as compared to $1.20 in 2019. In the fourth quarter of 2020, the Company earned $7.3 million, compared with $5.1 million in the fourth quarter of 2019, and $8.3 million in the third quarter of 2020. Earnings per diluted share were $0.41 in the fourth quarter of 2020, compared to $0.29 per diluted share in the fourth quarter of 2019, and $0.47 per diluted share in the preceding quarter.“We generated solid earnings for the fourth quarter and for the full year 2020, fueled by solid net interest income generation, despite...