The round-the-clock efforts of a largely remote workforce establishes Chelsea Groton as leader in PPP Loans, Mortgages and Places to Work in Eastern CT
(GROTON, Conn.) NEWS: Chelsea Groton Bank reported impressive financial, educational, technical and community-based accomplishments at its 166th Annual Meeting which was conducted over Zoom on Tuesday, April 27, 2021. President and CEO Michael Rauh presented the Bank’s 2020 results to Bank officers, Board members and Corporators.
“Our focus has always been on helping individuals, families and businesses succeed in big ways and small by putting more effort into everything we do. Our team was incredibly focused on the needs of our customers, and doing whatever it took to help them succeed in the most challenging circumstances,” shared Rauh. “The result was a banner year from a financial perspective, but more importantly, a year where we were everything a community bank is meant to be – a team of local people working tirele
The round-the-clock efforts of a largely remote workforce establishes Chelsea Groton as leader in PPP Loans, Mortgages and Places to Work in Eastern CT
GROTON, Conn., May 4, 2021 (SEND2PRESS NEWSWIRE) â Chelsea Groton Bank reported impressive financial, educational, technical and community-based accomplishments at its 166th Annual Meeting which was conducted over Zoom on Tuesday, April 27, 2021. President and CEO Michael Rauh presented the Bankâs 2020 results to Bank officers, Board members and Corporators.
âOur focus has always been on helping individuals, families and businesses succeed in big ways and small by putting more effort into everything we do. Our team was incredibly focused on the needs of our customers, and doing whatever it took to help them succeed in the most challenging circumstances,â shared Rauh. âThe result was a banner year from a financial perspective, but more importantly, a year where we were everything a community bank is meant
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
Idaho First Bank Announces 1st Quarter 2021 Results
Idaho First BankApril 29, 2021 GMT
MCCALL, Idaho, April 29, 2021 (GLOBE NEWSWIRE) Today Idaho First Bank (the ‘Bank’) (OTC: IDFB) announced unaudited financial results for the first quarter of 2021, and the planned retirement of CEO Greg Lovell. Lovell founded the bank in 2005, and his retirement is part of a detailed executive succession plan. Outgoing CEO Lovell stated, “The strong Q1 financial performance was driven by earnings generated through our participation in the Paycheck Protection Program (PPP) under the CARES Act, and strong growth in earning assets.” He further indicated, “The year-over-year growth of our balance sheet reflects the financial strength of our markets, our expansion into 3 new markets over the last 18 months, and the great work our talented team does by putting People First.”
Mission Valley Bancorp Reports First Quarter 2021 Results
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SUN VALLEY, Calif., April 30, 2021 /PRNewswire/ Mission Valley Bancorp (OTCQX: MVLY, Mission Valley , or the Company ) announced today net income of $822 thousand, or $0.25 per diluted share, for the first quarter of 2021 compared to net income of $816 thousand, or $0.25 per diluted share, for the first quarter of 2020.
First Quarter 2021 Highlights
No provision for loan losses and $102 thousand in net recoveries from previously charged-off loans.
Net interest income after provision for loan and lease losses increased $491 thousand, or 13.52%, to $4.1 million, compared to the first quarter of 2020.
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SALISBURY, Md., April 30, 2021 (GLOBE NEWSWIRE) Partners Bancorp (NASDAQ: PTRS) (the “Company”), the parent company of The Bank of Delmarva (“Delmarva”), Seaford, Delaware, and Virginia Partners Bank (“Virginia Partners”), Fredericksburg, Virginia, reported net income attributable to the Company of $1.1 million, or $0.06 per share, for the three months ended March 31, 2021, a $1.3 million or 54.7% decrease when compared to net income attributable to the Company of $2.4 million, or $0.14 per share, for the same period in 2020.
The Company’s results of operations for the three months ended March 31, 2021 were directly impacted by a decrease in net interest income and a lower net interest margin (tax equivalent basis), significantly higher provision for credit losses due to the deterioration in asset quality of two loan relationships that have been individually evaluated for impairment, the current economic environment and the COVID-19 pand