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NASHVILLE, Tenn., July 28, 2021 /PRNewswire/ InsCorp, parent company to INSBANK (OTCQX:IBTN), today reported second quarter earnings of $1,369,000, or $0.47 per share compared to $549,000 and $.19 per share for the same period in 2020. Year-to-date earnings were $2,659,000, or $0.91 per share, which was a 107.6% increase over the prior year of $1,281,000 for the six months ended June 30, 2020. Net interest margin improved for the third consecutive quarter, as repricing liabilities drove a decrease in the bank s cost of funding. Our team made steady progress on both short and long-term goals this quarter, said Jim Rieniets, President and CEO of INSBANK. Growth, margin enhancement, and reduction in non-performing assets all contributed to a double-digit return for our shareholders.
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NASHVILLE, Tenn., May 7, 2021 /PRNewswire/ InsCorp, parent company to INSBANK (OTCQX: IBTN), today reported first quarter earnings of $1,290,000, or $0.44 per common share. This represents an increase of $482,000, or 60%, over the previous quarter, and a $557,000 increase over the same quarter the prior year. Factors contributing to the results included core loan growth; PPP loan fee income; decreased funding costs; and income recognized from interest rate hedges. Our team members have been purposeful throughout the pandemic, allocating resources to pandemic-driven matters such as industry-specific credit challenges, PPP loans, and the Fed s zero interest rate policy, while concurrently executing innovation strategies in a rapidly-changing, technology-driven economy, said Jim Rieniets, President & CEO of INSBANK. In the midst of the pandemic we launched our niche healthcare brand, Medquity, to promote a national presence for physician-foc
INSBANK Expands Treasury Team with New Hire
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NASHVILLE, Tenn., March 9, 2021 /PRNewswire/
INSBANK, a Nashville-based commercial bank, today announced the addition of Chris Cahill as Treasury Management Officer. Chris brings over a decade of experience in financial technology, including business development focused on commercial real estate, nonprofit, C&I and healthcare, as well as diverse sales, marketing and management experience. His background will augment the level of expertise necessary to expand INSBANK s Treasury division, offering technology advanced deposit and treasury solutions to new and existing businesses, both small and large. Adding to the Treasury Management teams accreditations, he maintains both an Accounts Payable Solutions Consultant (APSC) certificate and a Certified Purchasing Card Professional (CPCP) certification. Chris serves the Nashville community as a Finance Committee Member for both Saddle Up! and Habitat