Day: July 23, 2022

OAK RIDGE, N.C., July 22, 2022 (GLOBE NEWSWIRE) — Oak Ridge Financial Services, Inc. (“Oak Ridge”; or the “Company”) (OTCPink: BKOR), the parent company of Bank of Oak Ridge (the “Bank”), announced unaudited financial results for the three and six months ended June 30, 2022. June 30, 2022 HighlightsBasic and diluted earnings per share of $0.63 for the three months ended June 30, 2022, down two cents, or 3.1%, from the comparable 2021 period; Annualized return on average common stockholders’ equity of 13.52% for the three months ended June 30, 2022, compared to 14.71% for the same period in 2021; Tangible book value per common share of $18.77 as of June 30, 2022, up 4.7%, or $0.84, from $17.93 as of June 30, 2021; Through June 30, 2022, have forgiven and recognized 94% of the unamortized fees and associated costs on the $80.0...

GOUVERNEUR, N.Y., July 22, 2022 (GLOBE NEWSWIRE) — Gouverneur Bancorp, Inc. (OTC Pink: GOVB) (the “Company”) holding company for Gouverneur Savings and Loan Association (the “Bank”), today announced the results for the third quarter of fiscal year 2022 ended June 30, 2022. A Note to our Shareholders: As previously reported in a press release issued on January 6, 2022, Cambray Mutual Holding Company (the “MHC”), the Company, the Bank and Citizens Bank of Cape Vincent (“CBCV”) announced the signing of a definitive merger agreement pursuant to which CBCV will merge with and into the Bank, with the Bank as the surviving institution with total assets estimation of $210 million. Upon the merger completion, the Bank will add three additional offices for a total of five as we expand our footprint into Jefferson County. As a result, June...

WHITE PLAINS, N.Y., July 22, 2022 (GLOBE NEWSWIRE) — NorthEast Community Bancorp, Inc. (Nasdaq: NECB) (the “Company”), the parent holding company of NorthEast Community Bank (the “Bank”), reported net income of $5.4 million and $9.0 million, or $0.35 and $0.58 per basic and diluted common share, for the three months and six months ended June 30, 2022 compared to net income of $3.7 million and $7.0 million, or $0.23 and $0.43 per basic and diluted common share, for the three months and six months ended June 30, 2021. Kenneth A. Martinek, NorthEast Community Bancorp’s Chairman of the Board and Chief Executive Officer, stated, “We are pleased to report another quarter of strong earnings due to the strong performance of our loan portfolio.   Despite the continuing COVID-19 pandemic and the recent increase in interest rates, loan demand...

SMITHFIELD, N.C., July 22, 2022 (GLOBE NEWSWIRE) — KS Bancorp, Inc. (the “Company”) (OTCBB: KSBI), parent company of KS Bank, Inc. (the “Bank”), announced unaudited results for the second quarter of 2022. The Company reported net income of $1,795,000 or $1.62 per diluted share, for the three months ended June 30, 2022, compared to net income of $1,519,000 or $1.37 per diluted share, for the three months ended June 30, 2021. Comparing the second quarter 2022 to the second quarter of 2021, there was an increase in net income of $276,000. In the second quarter of 2021 there was $319,000 income from the Payroll Protection Plan (PPP) loans recognized. Net interest income before the provision for loan losses for the three months ended June 30, 2022 was $4.8 million compared to $4.4 million at June 30, 2021. Noninterest income for the...

CHINO, Calif., July 22, 2022 (GLOBE NEWSWIRE) — The Board of Directors of Chino Commercial Bancorp (OTC: CCBC), the parent company of Chino Commercial Bank, N.A., announced the results of operations for the Bank and the consolidated holding company for the second quarter ended June 30, 2022. Net earnings for the second quarter of 2022, were $1.2 million, or an increase of 42.4%, as compared with earnings of $867 thousand for the same quarter last year. Net earnings per basic and diluted share was $0.46 for the second quarter of 2022, and $0.32 for the same quarter last year. Dann H. Bowman, President and Chief Executive Officer, stated, “Despite the setbacks of the last two years, the economy of the Inland Empire appears to be rebounding. We are excited about the opportunities for growth and expansion of the Bank as we offer new...

Record Earnings, Organic Loan Growth, Strong Asset Quality LYNCHBURG, Va., July 22, 2022 (GLOBE NEWSWIRE) — Bank of the James Financial Group, Inc. (the “Company”) (NASDAQ:BOTJ), the parent company of Bank of the James (the “Bank”), a full-service commercial and retail bank, and Pettyjohn, Wood & White, Inc. (“PWW”), an SEC-registered investment advisor, today announced unaudited results of operations for the three month and six month periods ended June 30, 2022. The Bank serves Region 2000 (the greater Lynchburg MSA), and the Blacksburg, Charlottesville, Harrisonburg, Lexington, Roanoke, and Wytheville, Virginia markets. Net income for the three months ended June 30, 2022 was $2.29 million or $0.48 per basic and diluted share compared with $2.01 million or $0.42 per basic and diluted share for the three months ended June...

Adjusted Earnings Remain Constant Year over Year SHELTON, Conn., July 22, 2022 (GLOBE NEWSWIRE) — Acme United Corporation (NYSE American: ACU) today announced that net sales for the quarter ended June 30, 2022, were $56.8 million compared to $44.8 million in the second quarter of 2021, an increase of 27%. Net sales for the six months ended June 30, 2022, were $100.1 million, compared to $88.4 million in the same period in 2021, an increase of 13%. Net income was $2.7 million, or $0.71 per diluted share, for the quarter ended June 30, 2022, compared to $7.2 million or $1.82 per diluted share, for the same period in 2021, a decrease of 62% in net income and 61% in diluted earnings per share. The decreases result from the impact in the second quarter of 2021 of the forgiveness of the Company’s PPP loan in the amount of $3.5 million...

EL CENTRO, CA, July 22, 2022 (GLOBE NEWSWIRE) — via NewMediaWire – CMUV Bancorp, the holding company for Community Valley Bank, is pleased to announce unaudited 2nd quarter results for the quarter ending June 30, 2022. Net Income came in at $1,009,044. The net income number equaled $0.55 per share. Total assets reached $295 MM. Total deposits were at $256.9 MM. Gross loans surpassed $206.6 MM. We ended the 2nd quarter 2022 with a Community Bank Leverage Capital ratio of 10.97%. This is well above the ratio required to be considered a well-capitalized bank. Our Allowance for Loan and Lease Losses ended the quarter at $2,369,670, or 1.14% of total loans. Non-accrual loans and Past Due loans remain very low at 0.91%. Both Board and Management believe the ALLL is fully funded at this time. June 30, 2022 book value of the common stock...