WAUKESHA, WI--(Marketwired - July 12, 2017) - CIB Marine Bancshares, Inc. (the "Company" or "CIBM") (
A summary of financial results for the quarter is attached. Select highlights include:
- Return on average assets was 0.65% for the quarter and 0.60% for the six months ending June 30, 2017, compared to 0.80% and 0.73% for the same periods in 2016.
- Book and tangible book value per share of common stock are reported at $0.68 and $1.16, respectively, for June 30, 2017, compared to $0.51 and $0.99 from one year prior.
- Net income for subsidiary CIBM Bank was $1.2 million for the quarter and $2.3 million for the six month period ending June 30, 2017, compared to net income of $1.4 million and $2.1 million for the same periods of 2016; reflecting stronger year to date results.
- Net interest income of $4.8 million for the quarter is an increase of $0.3 million from the same quarter of 2016, and net interest income of $9.4 million for the six months ending June 30, 2017, is an increase of $0.5 million from the same period of 2016. The growth primarily reflects higher earning asset balances.
- Noninterest income of $2.6 million for the quarter is a decrease of $0.2 million from the same quarter of 2016 and noninterest income of $4.5 million for the six months ending June 30, 2017, is a decrease of $0.4 million from the same period of 2016. The results reflect lower net mortgage banking revenue this year due to reduced refinancing activity and the prior year's net gain on sale of assets and write-downs related to collection activities which was $0.8 million in the 2016 year to date period.
- During the first six months of 2017, gains on sale of SBA loans have been $0.7 million compared to $0.1 million in the same period of 2016.
- Non-performing assets to total assets reported at 2.10% at June 30, 2017, compared to 1.67% at December 31, 2016, reflecting higher other real estate owned related to one relationship offset in part by lower non-accrual loans.
- Non-accrual loans to total loans reported at 0.99% at June 30, 2017, compared to 1.26% at December 31, 2016, as a result of the collection of a larger construction and development loan.
J. Brian Chaffin, CIB Marine's President and CEO, commented, "CIB Marine's second quarter improvement over the first quarter of 2017 reflects the higher level of earning assets and improved quality of our non-interest income with more coming from our core business activities as opposed to collection activities. Thirteen of the last fourteen quarters have been profitable at CIBM Bank, and this marks the sixth consecutive quarter of profits. Although loan growth has slowed this year so far, our net interest margin has improved from 2.84% as reported in the fourth quarter of 2016 to 3.09% in the second quarter of 2017. Our balance sheet repricing structure, including interest rate swaps hedging certain fixed rate commercial real estate loans, has responded well to the three Fed rate hikes between December of last year and June of this year."
Mr. Chaffin added, "Improved gains on sale of SBA loans are a continued sign of progress in the development of our new Government Guaranteed Lending Division. At Avenue Mortgage, loan volumes have picked up from the first quarter but still lag behind last year due to the market slow-down in refinancing activity caused by higher interest rates. However, home purchase loans have picked up recently and our new lenders in central Illinois are gaining some traction."
Mr. Chaffin concluded, "We are very proud of the level of commercial lending we do within our communities to support local job creation and retention, as well as our growth in mortgage lending which supports local home ownership and property maintenance. Over the last several years, we have consistently been in the top quartile among peer banks in the loan to deposit ratio and our loan growth has exceeded the median peer level. Improved financial results have allowed us to make significant investments in the form of securities purchased that support affordable housing and small businesses, as well as provide both financial and professional service support for a variety of non-profit community service organizations within our markets. Community lending is an area of focus for our organization. It presents certain challenges in the current market environment, but we have committed substantial resources to continue growing and improving this area of the bank in order to meet the needs of our communities."
CIB Marine Bancshares, Inc. is the holding company for CIBM Bank, which operates 11 banking offices in Illinois, Wisconsin, and Indiana and 4 separate mortgage loan offices in Illinois, Wisconsin and Indiana. More information on the Company is available at www.cibmarine.com, including recent shareholder letters, links to regulatory financial reports, and audited financial statements.
Notice that Preferred Dividend has not been declared: Pursuant to Sections 5.4(e)(v) and 5.5(e)(v) of the Company's Articles of Incorporation, notice is hereby given that the Board of Directors of the Company has not declared a dividend on its Series A Preferred Stock or its Series B Convertible Preferred Stock for the period ended June 30, 2017 and, accordingly, no dividend will be paid to preferred shareholders for such Dividend Period.
FORWARD-LOOKING STATEMENTS
CIB Marine has made statements in this release that may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. CIB Marine intends these forward-looking statements to be subject to the safe harbor created thereby and is including this statement to avail itself of the safe harbor. Forward-looking statements are identified generally by statements containing words and phrases such as "may," "project," "are confident," "should be," "intend," "predict," "believe," "plan," "expect," "estimate," "anticipate" and similar expressions. These forward-looking statements reflect CIB Marine's current views with respect to future events and financial performance that are subject to many uncertainties and factors relating to CIB Marine's operations and the business environment, which could change at any time.
There are inherent difficulties in predicting factors that may affect the accuracy of forward-looking statements.
Stockholders should note that many factors, some of which are discussed elsewhere in this Earnings Release and in the documents that are incorporated by reference, could affect the future financial results of CIB Marine and could cause those results to differ materially from those expressed in forward-looking statements contained or incorporated by reference in this document. These factors, many of which are beyond CIB Marine's control, include but are not limited to:
- operating, legal, and regulatory risks;
- economic, political, and competitive forces affecting CIB Marine's banking business;
- the impact on net interest income and securities values from changes in monetary policy and general economic and political conditions; and
- the risk that CIB Marine's analyses of these risks and forces could be incorrect and/or that the strategies developed to address them could be unsuccessful.
These factors should be considered in evaluating the forward-looking statements, and undue reliance should not be placed on such statements. Forward-looking statements speak only as of the date they are made. CIB Marine undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Forward-looking statements are subject to significant risks and uncertainties and CIB Marine's actual results may differ materially from the results discussed in forward-looking statements.
| CIB MARINE BANCSHARES, INC. |
| Selected Unaudited Consolidated Financial Data |
| At or for the | |||||||||||||||||||||||||
| Quarters Ended | Six Months Ended | ||||||||||||||||||||||||
| June 30, | March 31, | December 31, | September 30, | June 30, | June 30, | June 30, | |||||||||||||||||||
| 2017 | 2017 | 2016 | 2016 | 2016 | 2017 | 2016 | |||||||||||||||||||
| (Dollars in thousands, except share and per share data) | |||||||||||||||||||||||||
| Selected Statement of Operations Data | |||||||||||||||||||||||||
| Interest and dividend income | $ | 5,732 | $ | 5,562 | $ | 5,273 | $ | 5,286 | $ | 5,214 | $ | 11,294 | $ | 10,390 | |||||||||||
| Interest expense | 973 | 892 | 793 | 740 | 729 | 1,865 | 1,464 | ||||||||||||||||||
| Net interest income | 4,759 | 4,670 | 4,480 | 4,546 | 4,485 | 9,429 | 8,926 | ||||||||||||||||||
| Provision for (reversal of) loan losses | 47 | 228 | (796 | ) | 69 | 118 | 275 | 179 | |||||||||||||||||
| Net interest income after provision for (reversal of) loan losses | 4,712 |
4,442 |
5,276 |
4,477 |
4,367 |
9,154 |
8,747 |
||||||||||||||||||
| Noninterest income (1) | 2,611 | 1,847 | 1,908 | 2,651 | 2,788 | 4,458 | 4,841 | ||||||||||||||||||
| Noninterest expense | 6,279 | 5,401 | 6,127 | 6,220 | 5,951 | 11,680 | 11,432 | ||||||||||||||||||
| Income before income taxes | 1,044 | 888 | 1,057 | 908 | 1,204 | 1,932 | 2,156 | ||||||||||||||||||
| Income tax expense | 20 | 0 | (5 | ) | 40 | 15 | 20 | 15 | |||||||||||||||||
| Net income | $ | 1,024 | $ | 888 | $ | 1,062 | $ | 868 | $ | 1,189 | $ | 1,912 | $ | 2,141 | |||||||||||
| Common Share Data | |||||||||||||||||||||||||
| Basic net income (loss) per share | $ | 0.06 | $ | 0.05 | $ | 0.06 | $ | 0.05 | $ | 0.07 | $ | 0.11 | $ | 0.12 | |||||||||||
| Diluted net income (loss) per share | 0.03 | 0.02 | 0.03 | 0.02 | 0.03 | 0.05 | 0.06 | ||||||||||||||||||
| Dividend | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||
| Tangible book value per share (2) | 1.16 | 1.08 | 1.01 | 1.04 | 0.99 | 1.16 | 0.99 | ||||||||||||||||||
| Book value per share (2) | 0.68 | 0.60 | 0.53 | 0.56 | 0.51 | 0.68 | 0.51 | ||||||||||||||||||
| Weighted average shares outstanding - basic | 18,153,029 | 18,127,892 | 18,127,892 | 18,127,892 | 18,127,892 | 18,140,530 | 18,127,892 | ||||||||||||||||||
| Weighted average shares outstanding - diluted | 36,516,207 | 36,193,353 | 36,082,522 | 35,818,022 | 35,631,892 | 36,355,672 | 35,631,892 | ||||||||||||||||||
| Financial Condition Data | |||||||||||||||||||||||||
| Total assets | $ | 650,051 | $ | 631,160 | $ | 653,559 | $ | 632,628 | $ | 615,708 | $ | 650,051 | $ | 615,708 | |||||||||||
| Loans | 488,289 | 483,501 | 483,518 | 466,057 | 461,859 | 488,289 | 461,859 | ||||||||||||||||||
| Allowance for loan losses | (7,653 | ) | (7,567 | ) | (7,592 | ) | (8,549 | ) | (8,219 | ) | (7,653 | ) | (8,219 | ) | |||||||||||
| Investment securities | 111,160 | 111,745 | 112,072 | 103,853 | 103,542 | 111,160 | 103,542 | ||||||||||||||||||
| Deposits | 493,364 | 497,144 | 483,097 | 476,428 | 468,377 | 493,364 | 468,377 | ||||||||||||||||||
| Borrowings | 82,025 | 60,837 | 96,944 | 81,636 | 72,833 | 82,025 | 72,833 | ||||||||||||||||||
| Stockholders' equity | 72,279 | 70,819 | 69,523 | 70,094 | 69,266 | 72,279 | 69,266 | ||||||||||||||||||
| Financial Ratios and Other Data | |||||||||||||||||||||||||
| Performance Ratios: | |||||||||||||||||||||||||
| Net interest margin (3) | 3.09 | % | 3.02 | % | 2.84 | % | 2.95 | % | 3.11 | % | 3.06 | % | 3.13 | % | |||||||||||
| Net interest spread (4) | 2.92 | % | 2.87 | % | 2.70 | % | 2.80 | % | 2.96 | % | 2.89 | % | 2.98 | % | |||||||||||
| Noninterest income to average assets (5) | 1.65 | % | 1.16 | % | 1.18 | % | 1.68 | % | 1.88 | % | 1.40 | % | 1.65 | % | |||||||||||
| Noninterest expense to average assets | 3.96 | % | 3.40 | % | 3.79 | % | 3.93 | % | 4.02 | % | 3.68 | % | 3.90 | % | |||||||||||
| Efficiency ratio (6) | 85.20 | % | 82.88 | % | 95.91 | % | 86.42 | % | 81.82 | % | 84.11 | % | 83.04 | % | |||||||||||
| Earnings (loss) on average assets (7) | 0.65 | % | 0.56 | % | 0.66 | % | 0.55 | % | 0.80 | % | 0.60 | % | 0.73 | % | |||||||||||
| Earnings (loss) on average equity (8) | 5.71 | % | 5.10 | % | 5.93 | % | 4.89 | % | 6.98 | % | 5.41 | % | 6.37 | % | |||||||||||
| Asset Quality Ratios: | |||||||||||||||||||||||||
| Nonaccrual loans to loans (9) | 0.99 | % | 1.32 | % | 1.26 | % | 1.16 | % | 0.81 | % | 0.99 | % | 0.81 | % | |||||||||||
| Nonaccrual loans, restructured loans and loans 90 days or more past due and still accruing to total loans (9) | 2.15 |
% | 1.65 |
% | 1.60 |
% | 1.58 |
% | 1.63 |
% | 2.15 |
% | 1.63 |
% | |||||||||||
| Nonperforming assets, restructured loans and loans 90 days or more past due and still accruing to total assets (9) | 2.10 |
% | 1.77 |
% | 1.67 |
% | 1.32 |
% | 1.59 |
% | 2.10 |
% | 1.59 |
% | |||||||||||
| Allowance for loan losses to total loans | 1.57 | % | 1.57 | % | 1.57 | % | 1.83 | % | 1.78 | % | 1.57 | % | 1.78 | % | |||||||||||
| Allowance for loan losses to nonaccrual loans, restructured loans and loans 90 days or more past due and still accruing (9) | 72.81 |
% | 94.67 |
% | 97.99 |
% | 116.08 |
% | 109.14 |
% | 72.81 |
% | 109.14 |
% | |||||||||||
| Net charge-offs (recoveries) annualized to average loans | -0.03 | % | 0.21 | % | 0.14 | % | -0.22 | % | 0.12 | % | 0.09 | % | 0.01 | % | |||||||||||
| Capital Ratios: | |||||||||||||||||||||||||
| Total equity to total assets | 11.12 | % | 11.02 | % | 10.64 | % | 11.08 | % | 11.25 | % | 11.12 | % | 11.25 | % | |||||||||||
| Total risk-based capital ratio | 15.92 | % | 15.90 | % | 15.40 | % | 15.66 | % | 15.60 | % | 15.92 | % | 15.60 | % | |||||||||||
| Tier 1 risk-based capital ratio | 14.66 | % | 14.65 | % | 14.15 | % | 14.41 | % | 14.34 | % | 14.66 | % | 14.34 | % | |||||||||||
| Leverage capital ratio | 11.56 | % | 11.21 | % | 11.14 | % | 11.20 | % | 11.69 | % | 11.56 | % | 11.69 | % | |||||||||||
| Other Data: | |||||||||||||||||||||||||
| Number of employees (full-time equivalent) | 181 | 181 | 171 | 169 | 167 | 181 | 167 | ||||||||||||||||||
| Number of banking facilities | 11 | 11 | 11 | 11 | 11 | 11 | 11 | ||||||||||||||||||
| (1) Noninterest income includes gains and losses on securities. |
| (2) Tangible book value per share is the shareholder equity less the carry value of the preferred stock and less the goodwill and intangible assets, divided by the total shares of common outstanding. Book value per share is the shareholder equity less the liquidation preference of the preferred stock, divided by the total shares of common outstanding. |
| (3) Net interest margin is the ratio of net interest income to average interest-earning assets. |
| (4) Net interest spread is the yield on average interest-earning assets less the rate on average interest-bearing liabilities. |
| (5) Noninterest income to average assets excludes gains and losses on securities. |
| (6) The efficiency ratio is noninterest expense divided by the sum of net interest income plus noninterest income, excluding gains and losses on securities. |
| (7) Earnings on average assets are net income divided by average total assets. |
| (8) Earnings on average equity are net income divided by average common equity. |
| (9) Excludes loans held for sale. |
| CIB MARINE BANCSHARES, INC. | ||||||||||||||||||
| Consolidated Balance Sheets (unaudited) | ||||||||||||||||||
| June 30, | March 31, | December 31, | September 30, | June 30, | ||||||||||||||
| 2017 | 2017 | 2016 | 2016 | 2016 | ||||||||||||||
| (Dollars in thousands, except share data) | ||||||||||||||||||
| Assets | ||||||||||||||||||
| Cash and due from banks | $ | 10,462 | $ | 12,773 | $ | 10,291 | $ | 11,427 | $ | 9,808 | ||||||||
| Reverse repurchase agreements | 20,440 | 11,019 | 24,275 | 27,560 | 20,313 | |||||||||||||
| Securities available for sale | 111,160 | 111,745 | 112,072 | 103,853 | 103,542 | |||||||||||||
| Loans held for sale | 9,166 | 2,448 | 11,469 | 15,875 | 11,602 | |||||||||||||
| Loans | 488,289 | 483,501 | 483,518 | 466,057 | 461,859 | |||||||||||||
| Allowance for loan losses | (7,653 | ) | (7,567 | ) | (7,592 | ) | (8,549 | ) | (8,219 | ) | ||||||||
| Net loans | 480,636 | 475,934 | 475,926 | 457,508 | 453,640 | |||||||||||||
| Federal Home Loan Bank Stock | 2,948 | 2,070 | 3,803 | 3,803 | 2,170 | |||||||||||||
| Premises and equipment, net | 4,309 | 4,369 | 4,427 | 4,256 | 4,358 | |||||||||||||
| Accrued interest receivable | 1,386 | 1,377 | 1,382 | 1,289 | 1,290 | |||||||||||||
| Other real estate owned, net | 3,153 | 3,153 | 3,159 | 982 | 2,283 | |||||||||||||
| Bank owned life insurance | 4,441 | 4,414 | 4,389 | 4,363 | 4,336 | |||||||||||||
| Goodwill and other intangible assets | 209 | 215 | 221 | 226 | 232 | |||||||||||||
| Other assets | 1,741 | 1,643 | 2,145 | 1,486 | 2,134 | |||||||||||||
| Total Assets | $ | 650,051 | $ | 631,160 | $ | 653,559 | $ | 632,628 | $ | 615,708 | ||||||||
| Liabilities and Stockholders' Equity | ||||||||||||||||||
| Deposits: | ||||||||||||||||||
| Noninterest-bearing demand | $ | 79,888 | $ | 76,088 | $ | 77,154 | $ | 87,216 | $ | 82,460 | ||||||||
| Interest-bearing demand | 31,961 | 33,027 | 33,832 | 29,821 | 31,508 | |||||||||||||
| Savings | 183,608 | 192,175 | 176,435 | 169,390 | 175,955 | |||||||||||||
| Time | 197,907 | 195,854 | 195,676 | 190,001 | 178,454 | |||||||||||||
| Total deposits | 493,364 | 497,144 | 483,097 | 476,428 | 468,377 | |||||||||||||
| Short-term borrowings | 82,025 | 60,837 | 96,944 | 81,636 | 72,833 | |||||||||||||
| Accrued interest payable | 358 | 327 | 349 | 319 | 335 | |||||||||||||
| Other liabilities | 2,025 | 2,033 | 3,646 | 4,151 | 4,897 | |||||||||||||
| Total liabilities | 577,772 | 560,341 | 584,036 | 562,534 | 546,442 | |||||||||||||
| Stockholders' Equity | ||||||||||||||||||
| Preferred stock, $1 par value; 5,000,000 authorized shares; 7% fixed rate noncumulative perpetual issued-55,624 shares of series A and 4,376 shares of series B; convertible; aggregate liquidation preference- $60,000 | 51,000 |
51,000 |
51,000 |
51,000 |
51,000 |
|||||||||||||
| Common stock, $1 par value; 50,000,000 authorized shares; 18,383,891 issued shares; 18,172,844 outstanding shares | 18,384 |
18,346 |
18,346 |
18,346 |
18,346 |
|||||||||||||
| Capital surplus | 158,640 | 158,602 | 158,552 | 158,510 | 158,493 | |||||||||||||
| Accumulated deficit | (153,605 | ) | (154,629 | ) | (155,517 | ) | (156,579 | ) | (157,446 | ) | ||||||||
| Accumulated other comprehensive loss, net | (1,611 | ) | (1,971 | ) | (2,329 | ) | (654 | ) | (598 | ) | ||||||||
| Treasury stock 218,499 shares at cost | (529 | ) | (529 | ) | (529 | ) | (529 | ) | (529 | ) | ||||||||
| Total stockholders' equity | 72,279 | 70,819 | 69,523 | 70,094 | 69,266 | |||||||||||||
| Total liabilities and stockholders' equity | $ | 650,051 | $ | 631,160 | $ | 653,559 | $ | 632,628 | $ | 615,708 | ||||||||
| CIB MARINE BANCSHARES, INC. |
| Consolidated Statements of Operations (Unaudited) |
| At or for the | |||||||||||||||||||||||||
| Quarters Ended | Six Months Ended | ||||||||||||||||||||||||
| June 30, | March 31, | December 31, | September 30, | June 30, | June 30, | June 30, | |||||||||||||||||||
| 2017 | 2017 | 2016 | 2016 | 2016 | 2017 | 2016 | |||||||||||||||||||
| (Dollars in thousands) | |||||||||||||||||||||||||
| Interest Income | |||||||||||||||||||||||||
| Loans | $ | 4,997 | $ | 4,826 | $ | 4,493 | $ | 4,540 | $ | 4,635 | $ | 9,823 | $ | 9,207 | |||||||||||
| Loans held for sale | 79 | 46 | 141 | 153 | 95 | 125 | 178 | ||||||||||||||||||
| Securities | 598 | 611 | 563 | 513 | 478 | 1,209 | 995 | ||||||||||||||||||
| Other investments | 58 | 79 | 76 | 80 | 6 | 137 | 10 | ||||||||||||||||||
| Total interest income | 5,732 | 5,562 | 5,273 | 5,286 | 5,214 | 11,294 | 10,390 | ||||||||||||||||||
| Interest Expense | |||||||||||||||||||||||||
| Deposits | 817 | 749 | 697 | 659 | 692 | 1,566 | 1,397 | ||||||||||||||||||
| Short-term borrowings | 156 | 143 | 96 | 81 | 37 | 299 | 67 | ||||||||||||||||||
| Total interest expense | 973 | 892 | 793 | 740 | 729 | 1,865 | 1,464 | ||||||||||||||||||
| Net interest income | 4,759 | 4,670 | 4,480 | 4,546 | 4,485 | 9,429 | 8,926 | ||||||||||||||||||
| Provision for (reversal of) loan losses | 47 | 228 | (796 | ) | 69 | 118 | 275 | 179 | |||||||||||||||||
| Net interest income after provision for (reversal of) loan losses | 4,712 | 4,442 | 5,276 | 4,477 | 4,367 | 9,154 | 8,747 | ||||||||||||||||||
| Noninterest Income | |||||||||||||||||||||||||
| Deposit service charges | 129 | 113 | 121 | 125 | 121 | 242 | 224 | ||||||||||||||||||
| Other service fees | 54 | 46 | 45 | 47 | 52 | 100 | 119 | ||||||||||||||||||
| Mortgage Banking revenue, net | 2,027 | 1,142 | 1,414 | 2,285 | 2,102 | 3,169 | 3,438 | ||||||||||||||||||
| Other income | 127 | 97 | 136 | 206 | 96 | 224 | 213 | ||||||||||||||||||
| Net gains on sale of securities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||
| Net gains (losses) on sale of assets and (writedowns) | 274 | 449 | 192 | (12 | ) | 417 | 723 | 847 | |||||||||||||||||
| Total noninterest income | 2,611 | 1,847 | 1,908 | 2,651 | 2,788 | 4,458 | 4,841 | ||||||||||||||||||
| Noninterest Expense | |||||||||||||||||||||||||
| Compensation and employee benefits | 4,333 | 3,705 | 4,228 | 4,426 | 4,143 | 8,038 | 7,767 | ||||||||||||||||||
| Equipment | 319 | 290 | 305 | 277 | 293 | 609 | 566 | ||||||||||||||||||
| Occupancy and premises | 381 | 390 | 390 | 377 | 389 | 771 | 824 | ||||||||||||||||||
| Data Processing | 136 | 140 | 123 | 185 | 151 | 276 | 305 | ||||||||||||||||||
| Federal deposit insurance | 81 | 87 | 92 | 105 | 106 | 168 | 212 | ||||||||||||||||||
| Professional services | 130 | 200 | 156 | 157 | 213 | 330 | 462 | ||||||||||||||||||
| Telephone and data communication | 88 | 81 | 90 | 92 | 99 | 169 | 208 | ||||||||||||||||||
| Insurance | 96 | 59 | 60 | 60 | 56 | 155 | 110 | ||||||||||||||||||
| Other expense | 715 | 449 | 683 | 541 | 501 | 1,164 | 978 | ||||||||||||||||||
| Total noninterest expense | 6,279 | 5,401 | 6,127 | 6,220 | 5,951 | 11,680 | 11,432 | ||||||||||||||||||
| Income from operations | |||||||||||||||||||||||||
| before income taxes | 1,044 | 888 | 1,057 | 908 | 1,204 | 1,932 | 2,156 | ||||||||||||||||||
| Income tax expense | 20 | 0 | (5 | ) | 40 | 15 | 20 | 15 | |||||||||||||||||
| Net income | 1,024 | 888 | 1,062 | 868 | 1,189 | 1,912 | 2,141 | ||||||||||||||||||
| Preferred stock dividend | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||
| Net income allocated to common stockholders | $ | 1,024 | $ | 888 | $ | 1,062 | $ | 868 | $ | 1,189 | $ | 1,912 | $ | 2,141 | |||||||||||
Contact Information:
FOR INFORMATION CONTACT:
J. Brian Chaffin
President & CEO
(217) 355-0900
brian.chaffin@cibmbank.com