Cordia Bancorp Inc. Reports Third Quarter Profit
12 Novembre 2015 - 10:35PM
Cordia Bancorp Inc. ("Cordia") (NASDAQ:BVA), parent company of Bank
of Virginia, reported net income of $130,000 or $0.02 per share for
the third quarter of 2015, compared to net income of $82,000, or
$0.01 per share for the third quarter of 2014. For the first nine
months of 2015, net income was $717,000 or $0.11 per share compared
to a net loss of $472,000, or $(0.11) per share, for the same
period of 2014.
Highlights
- Hiring of Ed Barham, former CEO of StellarOne, as President
& CEO of Bank of Virginia in August 2015
- 26% year-over-year growth in commercial and consumer loans
- 16% year-over-year growth in total assets
- 14% year-over-year growth in total deposits
- Net interest income increased $336,000, or 5.7%, for the nine
months ended September 30, 2015 versus 2014, net of acquisition
accounting adjustments.
Chief Executive Officer Jack Zoeller stated, "We are fortunate
to have such a talented and highly successful executive as Ed
Barham join our team. We are also excited about the Company's
continued growth in assets and improvement in earnings. We have
achieved exceptional growth in our loan portfolio, excellent asset
quality and a meaningful reduction in non-interest expense in
2015."
Balance Sheet Activity
- Asset Growth. Total assets increased to $348.0
million at September 30, 2015, compared to $318.6 million at
December 31, 2014. Year-over-year, total assets increased 16%, from
$300.8 million at September 30, 2014. During the nine months ended
September 30, 2015, loans held for investment increased 7%, or
$15.8 million. Of this amount, organic originations accounted for
$24.6 million while purchased guaranteed student loans decreased
$8.8 million.
- Deposit Growth. Total deposits at September
30, 2015, were $289.3 million, an increase of $23.7 million from
$265.6 million at December 31, 2014. Year-over-year, total deposits
increased 14%, from $252.9 million at September 30, 2014.
- Asset Quality. Non-performing assets were $3.7
million, or 1.07% of total assets, at September 30, 2015, compared
to $3.9 million, or 1.21% of total assets, at December 31, 2014,
and $2.9 million, or 0.95%, at September 30, 2014.
- Tangible Book Value. Tangible book value per
share was $4.27 at September 30, 2015 compared to $4.16 at December
31, 2014.
Operating Results
Three months ended September 30, 2015 compared to the
three months ended September 30, 2014
- Net income for the quarter ended September 30, 2015 was
$130,000 compared to net income of $82,000 for the prior year third
quarter.
- Net interest income was $2.15 million for the third quarter of
2015, compared to $2.13 million for the third quarter of 2014.
- Net interest income, net of acquisition accounting adjustments,
increased $122,000, or 6.1%.
- Net interest margin was 2.61% and 3.01% for the third quarter
of 2015 and 2014, respectively. Adjusting for the impact of
acquisition accounting, net interest margin was 2.58% for the 2015
quarter compared to 2.95% for the 2014 quarter.
- The provision for loan losses was a recovery of $53,000 in the
third quarter of 2015 compared to a recovery of $106,000 in the
prior year quarter.
- Noninterest income increased to $115,000 from $82,000 in the
prior year quarter.
- Noninterest expense decreased $45,000 to $2.19 million for the
third quarter of 2015, compared to $2.23 million for the third
quarter of 2014.
Nine months ended September 30, 2015 compared to the
nine months ended September 30, 2014
- Net income for the first nine months of 2015 was $717,000
compared to a net loss of $472,000 for the first nine months of
2014.
- Net interest income was $6.31 million for the 2015 period,
compared to $6.10 million for the 2014 period.
- Net interest income, net of acquisition accounting adjustments,
increased $336,000, or 5.7%.
- Net interest margin was 2.69% and 3.13% for the first nine
months of 2015 and 2014, respectively. Adjusting for the impact of
acquisition accounting, net interest margin was 2.65% for the 2015
period compared to 3.02% for the 2014 period.
- The provision for loan losses was a recovery of $330,000 for
the first nine months of 2015 compared to a provision of $123,000
for the first nine months of 2014.
- Noninterest income increased to $425,000 from $267,000 in the
prior year period due primarily to an increase in gains on the sale
of securities and loans of $75,000 and gains on the sales of loans
held for sale of $36,000 in the 2015 period.
- Noninterest expense decreased $363,000 to $6.35 million for the
first nine months of 2015, compared to $6.71 million for the first
nine months of 2014 primarily due to a favorable reversal in the
2015 period of a fair value discount of $225,000 related to the
purchase of a bank property and the termination of the related
lease.
About Cordia Bancorp
Cordia Bancorp Inc. is a public bank holding company founded in
2009 seeking to invest in undervalued community banks and pursue
organic and strategic growth in the Mid-Atlantic banking market.
Substantially all of the assets of Cordia consist of its investment
in Bank of Virginia. Bank of Virginia provides retail banking
services to individuals and commercial customers through six
full-service banking locations in the greater Richmond market,
including Chesterfield and Henrico Counties and Colonial Heights,
Virginia. CordiaGrad provides student loan refinancing services
through two offices in Midlothian, VA and Washington, DC.
For more information about Cordia Bancorp, Bank of Virginia and
CordiaGrad, visit our websites: www.cordiabancorp.com,
www.bankofva.com and www.cordiagrad.com.
DISCLAIMER
This news release may include forward-looking statements. These
forward-looking statements are based on current expectations that
involve risks, uncertainties and assumptions. Should one or more of
these risks or uncertainties materialize or should underlying
assumptions prove incorrect, actual results may differ materially.
These risks include: changes in business or other market
conditions; the timely development, production and acceptance of
new products and services; the challenge of managing
asset/liability levels; the management of credit risk and interest
rate risk; the difficulty of keeping expense growth at modest
levels while increasing revenues; and other risks detailed from
time to time in the Company's periodic filings with the Securities
Exchange Commission. Pursuant to the Private Securities Litigation
Reform Act of 1995, the Company does not undertake to update
forward-looking statements contained within this news release.
|
Cordia
Bancorp |
Consolidated Balance Sheets
(unaudited) |
|
|
|
|
|
|
|
Sept. 30, |
June 30, |
March 31, |
Dec. 31, |
Sept. 30, |
(Dollars in thousands, except per share
data) |
2015 |
2015 |
2015 |
2014 |
2014 |
Assets |
|
|
|
|
|
Cash and due from banks |
$ 9,437 |
$ 11,771 |
$ 9,602 |
$ 5,484 |
$ 5,789 |
Fed funds sold and
Interest-bearing deposits |
15,970 |
7,593 |
23,495 |
16,363 |
6,131 |
Total cash and cash
equivalents |
25,407 |
19,364 |
33,097 |
21,847 |
11,920 |
Securities available for sale,
at fair value |
48,721 |
58,445 |
41,411 |
53,483 |
54,581 |
Securities held to maturity, at
cost |
26,281 |
27,087 |
20,132 |
20,716 |
21,263 |
Restricted securities |
2,330 |
2,331 |
2,405 |
2,092 |
1,525 |
Loans held for sale |
109 |
96 |
117 |
-- |
-- |
Loans held for investment: |
|
|
|
|
|
Commercial real estate |
106,335 |
111,180 |
109,734 |
103,253 |
92,300 |
Commercial and industrial |
26,751 |
27,919 |
24,057 |
24,153 |
25,376 |
Guaranteed student loans |
56,072 |
57,900 |
61,441 |
64,870 |
67,421 |
Consumer and other |
39,607 |
28,865 |
24,521 |
20,683 |
19,221 |
Total loans held for
investment |
228,765 |
225,864 |
219,753 |
212,959 |
204,318 |
Less: Allowance for loan
losses |
(903) |
(990) |
(1,102) |
(1,089) |
(1,226) |
Net loans held for
investment |
227,862 |
224,874 |
218,651 |
211,870 |
203,092 |
|
|
|
|
|
|
Premises and equipment,
net |
6,034 |
6,083 |
4,402 |
4,432 |
4,496 |
Accrued interest
receivable |
1,924 |
2,033 |
1,986 |
2,040 |
1,902 |
Other real estate owned, net of
valuation allowance |
1,761 |
1,769 |
1,647 |
1,641 |
1,543 |
Other assets |
7,555 |
704 |
696 |
479 |
485 |
Total assets |
$ 347,984 |
$ 342,786 |
$ 324,544 |
$ 318,600 |
$ 300,807 |
|
|
|
|
|
|
Liabilities and stockholders'
equity |
|
|
|
|
|
Non-interest bearing
deposits |
28,362 |
31,239 |
27,628 |
30,709 |
24,490 |
Savings and interest bearing
demand deposits |
104,007 |
100,596 |
83,077 |
83,339 |
78,779 |
Time deposits |
156,939 |
152,800 |
154,920 |
151,555 |
149,679 |
Total deposits |
289,308 |
284,635 |
265,625 |
265,603 |
252,948 |
|
|
|
|
|
|
Accrued expenses and other
liabilities |
553 |
464 |
1,061 |
861 |
877 |
FHLB borrowings |
30,000 |
30,000 |
30,000 |
25,000 |
20,000 |
Total liabilities |
319,861 |
315,099 |
296,686 |
291,464 |
273,825 |
|
|
|
|
|
|
Common stock - voting |
50 |
51 |
51 |
51 |
51 |
Common stock - nonvoting |
14 |
14 |
14 |
14 |
14 |
Additional paid-in-capital |
33,044 |
33,061 |
33,011 |
32,956 |
32,895 |
Retained deficit |
(4,700) |
(4,830) |
(5,066) |
(5,417) |
(5,477) |
Accumulated other comprehensive
loss |
(285) |
(609) |
(152) |
(468) |
(501) |
Total stockholders' equity |
28,123 |
27,687 |
27,858 |
27,136 |
26,982 |
Total liabilities and
stockholders' equity |
$ 347,984 |
$ 342,786 |
$ 324,544 |
$ 318,600 |
$ 300,807 |
|
|
|
|
|
|
|
Cordia
Bancorp |
Consolidated Statements of Income
(unaudited) |
|
|
|
|
|
|
|
|
|
Three Months Ended |
Nine Months Ended |
|
Sept. 30, |
June 30, |
March 31, |
Dec. 31, |
Sept. 30, |
Sept. 30, |
Sept. 30, |
(Dollars in thousands, except per share
data) |
2015 |
2015 |
2015 |
2014 |
2014 |
2015 |
2014 |
Interest Income |
|
|
|
|
|
|
|
Interest and fees on loans |
$ 2,294 |
$ 2,327 |
$ 2,183 |
$ 2,247 |
$ 2,275 |
$ 6,804 |
$ 6,676 |
Investment securities |
446 |
383 |
363 |
405 |
346 |
1,192 |
864 |
Interest on federal funds sold
and deposits with banks |
9 |
5 |
7 |
6 |
4 |
21 |
19 |
Total interest income |
2,749 |
2,715 |
2,553 |
2,658 |
2,625 |
8,017 |
7,559 |
|
|
|
|
|
|
|
|
Interest Expense |
|
|
|
|
|
|
|
Interest on deposits |
506 |
470 |
454 |
451 |
443 |
1,430 |
1,310 |
Interest on FHLB
Borrowings |
95 |
93 |
89 |
76 |
57 |
277 |
154 |
Total interest expense |
601 |
563 |
543 |
527 |
500 |
1,707 |
1,464 |
|
|
|
|
|
|
|
|
Net interest income |
2,148 |
2,152 |
2,010 |
2,131 |
2,125 |
6,310 |
6,095 |
Provision for (recovery of)
loan losses |
(53) |
63 |
(340) |
182 |
(106) |
(330) |
123 |
Net interest income after provision for
(recovery of) loan losses |
2,201 |
2,089 |
2,350 |
1,949 |
2,231 |
6,640 |
5,972 |
|
|
|
|
|
|
|
|
Non-interest income |
|
|
|
|
|
|
|
Service charges on deposit
accounts |
35 |
30 |
30 |
34 |
44 |
95 |
89 |
Net gain (loss) on sale of
available for sale securities |
22 |
-- |
114 |
116 |
(3) |
136 |
61 |
Net gain (loss) on sale of
loans held for sale |
6 |
9 |
21 |
(4) |
-- |
36 |
-- |
Other fee income |
52 |
58 |
48 |
54 |
41 |
158 |
117 |
Total non-interest income |
115 |
97 |
213 |
200 |
82 |
425 |
267 |
|
|
|
|
|
|
|
|
Non-interest expense |
|
|
|
|
|
|
|
Salaries and employee
benefits |
1,085 |
1,082 |
1,280 |
1,094 |
1,244 |
3,447 |
3,752 |
Professional services |
108 |
100 |
84 |
104 |
92 |
292 |
323 |
Occupancy |
149 |
159 |
153 |
139 |
139 |
461 |
426 |
Reversal of occupancy fair
value discount |
-- |
(225) |
-- |
-- |
-- |
(225) |
-- |
Data processing and
communications |
233 |
206 |
198 |
184 |
206 |
637 |
508 |
FDIC assessment and bank
fees |
88 |
92 |
90 |
96 |
99 |
270 |
289 |
Bank franchise taxes |
49 |
49 |
49 |
23 |
23 |
147 |
79 |
Student loan servicing fees and
other loan expenses |
174 |
208 |
146 |
191 |
144 |
528 |
480 |
Other real estate expenses |
26 |
45 |
6 |
18 |
6 |
77 |
28 |
Supplies and equipment |
71 |
70 |
73 |
78 |
82 |
214 |
240 |
Insurance |
20 |
19 |
20 |
42 |
40 |
59 |
125 |
Director's fees |
28 |
21 |
26 |
50 |
46 |
75 |
137 |
Marketing and business
development |
64 |
31 |
18 |
21 |
15 |
113 |
30 |
Other operating expenses |
91 |
93 |
69 |
49 |
95 |
253 |
294 |
Total non-interest expense |
2,186 |
1,950 |
2,212 |
2,089 |
2,231 |
6,348 |
6,711 |
|
|
|
|
|
|
|
|
Net income (loss) |
$ 130 |
$ 236 |
$ 351 |
$ 60 |
$ 82 |
717 |
(472) |
|
|
|
|
|
|
|
|
Earnings (loss) per share, basic and
diluted |
$ 0.02 |
$ 0.04 |
$ 0.05 |
$ 0.01 |
$ 0.01 |
$ 0.11 |
$ (0.11) |
Weighted average shares outstanding,
basic |
6,572,278 |
6,583,848 |
6,559,217 |
6,504,106 |
6,504,106 |
6,571,829 |
4,122,180 |
Weighted average shares outstanding,
diluted |
6,572,278 |
6,583,848 |
6,559,217 |
6,504,106 |
6,504,106 |
6,571,829 |
4,122,180 |
|
|
|
|
|
|
|
|
|
Cordia
Bancorp |
Consolidated Financial Highlights
(unaudited) |
|
As of and for the Three
Months Ended |
Nine Months Ended |
|
Sept. 30, |
June 30, |
March 31, |
Dec. 31, |
Sept. 30, |
Sept. 30, |
Sept. 30, |
(Dollars in thousands, except per share
data) |
2015 |
2015 |
2015 |
2014 |
2014 |
2015 |
2014 |
Results of Operations |
|
|
|
|
|
|
|
Interest income |
$ 2,749 |
$ 2,715 |
$ 2,553 |
$ 2,658 |
$ 2,625 |
$ 8,017 |
$ 7,559 |
Interest expense |
601 |
563 |
543 |
527 |
500 |
1,707 |
1,464 |
Net interest income |
2,148 |
2,152 |
2,010 |
2,131 |
2,125 |
6,310 |
6,095 |
Provision for (recovery of)
loan losses |
(53) |
63 |
(340) |
182 |
(106) |
(330) |
123 |
Net interest income after
provision for (recovery of) loan losses |
2,201 |
2,089 |
2,350 |
1,949 |
2,231 |
6,640 |
5,972 |
Non-interest income |
115 |
97 |
213 |
200 |
82 |
425 |
267 |
Non-interest expense |
2,186 |
1,950 |
2,212 |
2,089 |
2,231 |
6,348 |
6,711 |
Net income (loss) |
$ 130 |
$ 236 |
$ 351 |
$ 60 |
$ 82 |
$ 717 |
$ (472) |
|
|
|
|
|
|
|
|
Earnings (loss) per share,
basics and diluted |
$ 0.02 |
$ 0.04 |
$ 0.05 |
$ 0.01 |
$ 0.01 |
$ 0.11 |
$ (0.11) |
Weighted average shares
outstanding, basic |
6,572,278 |
6,583,848 |
6,559,217 |
6,504,106 |
6,504,106 |
6,571,829 |
4,122,180 |
Weighted average shares
outstanding, diluted |
6,572,278 |
6,583,848 |
6,559,217 |
6,504,106 |
6,504,106 |
6,571,829 |
4,122,180 |
|
|
|
|
|
|
|
|
Performance Ratios |
|
|
|
|
|
|
|
Return on average assets |
0.15% |
0.29% |
0.44% |
0.08% |
0.11% |
0.29% |
-0.23% |
Return on average equity |
1.85% |
3.40% |
5.20% |
0.88% |
1.21% |
3.46% |
-2.86% |
Return on average tangible
equity |
1.85% |
3.41% |
5.22% |
0.88% |
1.21% |
3.47% |
-2.88% |
Efficiency ratio |
96.60% |
86.71% |
99.51% |
89.62% |
101.09% |
94.25% |
105.49% |
|
|
|
|
|
|
|
|
Yields and Rates |
|
|
|
|
|
|
|
Yield on loans |
4.09% |
4.18% |
4.16% |
4.29% |
4.47% |
4.15% |
4.58% |
Yield on securities |
2.06% |
2.12% |
2.07% |
2.04% |
1.94% |
2.08% |
2.09% |
Yield on interest earning
assets |
3.34% |
3.51% |
3.42% |
3.53% |
3.72% |
3.42% |
3.88% |
Cost of interest bearing
deposits |
0.77% |
0.79% |
0.78% |
0.76% |
0.78% |
0.78% |
0.83% |
Cost of total deposits |
0.70% |
0.71% |
0.70% |
0.68% |
0.71% |
0.70% |
0.75% |
Cost of borrowings |
1.26% |
1.19% |
1.25% |
1.25% |
1.13% |
1.23% |
1.23% |
Cost of interest bearing
liabilities |
0.82% |
0.84% |
0.83% |
0.81% |
0.81% |
0.83% |
0.86% |
Interest rate spread |
2.51% |
2.67% |
2.59% |
2.72% |
2.91% |
2.59% |
3.02% |
Net interest margin |
2.61% |
2.78% |
2.69% |
2.83% |
3.01% |
2.69% |
3.13% |
|
|
|
|
|
|
|
|
Capital |
|
|
|
|
|
|
|
Total equity to total
assets |
8.08% |
8.08% |
8.58% |
8.52% |
8.97% |
8.08% |
8.97% |
Tangible equity to total
assets |
8.06% |
8.05% |
8.56% |
8.49% |
8.94% |
8.06% |
8.94% |
Book value per share |
4.29 |
4.21 |
4.23 |
4.17 |
4.15 |
4.29 |
4.15 |
Tangible book value per
share |
4.27 |
4.19 |
4.22 |
4.16 |
4.13 |
4.27 |
4.13 |
Common shares outstanding |
6,562,906 |
6,582,806 |
6,584,106 |
6,504,106 |
6,504,106 |
6,562,906 |
6,504,106 |
|
|
|
|
|
|
|
|
Average Balances |
|
|
|
|
|
|
|
Loans |
$ 222,371 |
$ 223,286 |
$ 212,566 |
$ 207,833 |
$ 201,953 |
$ 219,443 |
194,990 |
Securities |
86,089 |
72,391 |
71,198 |
78,590 |
70,848 |
76,614 |
55,280 |
Earning assets |
326,904 |
310,680 |
302,481 |
298,712 |
279,876 |
313,444 |
260,542 |
Total assets |
346,917 |
327,439 |
321,455 |
315,167 |
295,834 |
332,030 |
274,871 |
Interest bearing deposits |
260,276 |
238,715 |
235,388 |
234,953 |
223,927 |
244,881 |
211,352 |
Total deposits |
288,455 |
267,356 |
264,434 |
262,947 |
248,087 |
273,500 |
234,183 |
FHLB borrowings |
30,000 |
31,346 |
28,778 |
24,185 |
20,000 |
30,046 |
16,740 |
Interest bearing
liabilities |
290,276 |
270,061 |
264,166 |
259,138 |
243,927 |
274,927 |
228,092 |
Total equity |
27,938 |
27,835 |
27,353 |
27,198 |
26,918 |
27,710 |
22,042 |
Tangible equity |
27,857 |
27,745 |
27,254 |
27,089 |
26,800 |
27,620 |
21,916 |
|
|
|
|
|
|
|
|
Asset Quality |
|
|
|
|
|
|
|
Net
charge-offs/(recoveries) |
34 |
175 |
(353) |
319 |
75 |
(144) |
386 |
Net charge-off rate |
0.06% |
0.31% |
-0.67% |
0.61% |
0.15% |
-0.09% |
0.20% |
Non-performing loans |
1,975 |
1,918 |
2,108 |
2,221 |
1,323 |
1,975 |
1,323 |
Non-performing assets |
3,736 |
3,687 |
3,755 |
3,862 |
2,866 |
3,736 |
2,866 |
Allowance for loan losses |
903 |
990 |
1,102 |
1,089 |
1,226 |
903 |
1,226 |
Non-performing loans as a % of
total loans held for investment |
0.86% |
0.85% |
0.96% |
1.04% |
0.65% |
0.86% |
0.65% |
Non-performing assets as a % of
total assets |
1.07% |
1.08% |
1.16% |
1.21% |
0.95% |
1.07% |
0.95% |
Allowance for loan losses as a
% of total loans held for investment |
0.39% |
0.44% |
0.50% |
0.51% |
0.60% |
0.39% |
0.60% |
Allowance for loan losses as a
% of non-performing loans |
45.72% |
51.62% |
52.28% |
49.03% |
92.67% |
45.72% |
92.67% |
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Cordia
Bancorp |
GAAP to Non-GAAP Reconciliations
(unaudited) |
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The table below shows the
computations of tangible equity and tangible assets and certain
related ratios, all of which are considered to be non-GAAP
financial measures. The tangible equity to tangible assets
ratio has become a focus of some investors and management believes
this ratio may assist in analyzing the Corporation's capital
position, absent the effects of intangible assets. These
non-GAAP financial measures have limitations as analytical tools
and should not be considered in isolation, or as substitute for
analysis of results reported under GAAP. Because not all
companies use identical calculations, the non-GAAP measures
presented in the following table may not be comparable to those
reported by other companies. |
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As of and for the Three
Months Ended |
Nine Months Ended |
|
Sept. 30, |
June 30, |
March 31, |
Dec. 31, |
Sept. 30, |
Sept. 30, |
Sept. 30, |
(Dollars in thousands, except per share
data) |
2015 |
2015 |
2015 |
2014 |
2014 |
2015 |
2014 |
Tangible Equity and Tangible Assets
(Period End) |
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|
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|
Total shareholders' equity (GAAP) |
$ 28,123 |
$ 27,687 |
$ 27,858 |
$ 27,136 |
$ 26,982 |
$ 28,123 |
$ 26,982 |
Less: intangible assets |
77 |
86 |
95 |
104 |
112 |
77 |
112 |
Tangible Equity (non-GAAP) |
$ 28,046 |
$ 27,601 |
$ 27,763 |
$ 27,032 |
$ 26,870 |
$ 28,046 |
$ 26,870 |
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Total assets (GAAP) |
$ 347,984 |
$ 342,786 |
$ 324,544 |
$ 318,600 |
$ 300,807 |
$ 347,984 |
$ 300,807 |
Less: intangible assets |
77 |
86 |
95 |
104 |
112 |
77 |
112 |
Tangible assets (non-GAAP) |
$ 347,907 |
$ 342,700 |
$ 324,449 |
$ 318,496 |
$ 300,695 |
$ 347,907 |
$ 300,695 |
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-- |
Total equity to total assets (GAAP) |
8.08% |
8.08% |
8.58% |
8.52% |
8.97% |
8.08% |
8.97% |
Book value per share (GAAP) |
$ 4.29 |
$ 4.21 |
$ 4.23 |
$ 4.17 |
$ 4.15 |
$ 4.29 |
$ 4.15 |
Tangible equity to tangible assets
(non-GAAP) |
8.06% |
8.05% |
8.56% |
8.49% |
8.94% |
8.06% |
8.94% |
Tangible book value per share (non-GAAP) |
$ 4.27 |
$ 4.19 |
$ 4.22 |
$ 4.16 |
$ 4.13 |
$ 4.27 |
$ 4.13 |
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Tangible Equity and Tangible Assets
(Average) |
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Total shareholders' equity (GAAP) |
$ 27,938 |
$ 27,835 |
$ 27,353 |
$ 27,198 |
$ 26,918 |
$ 27,710 |
$ 22,042 |
Less: intangible assets |
81 |
90 |
99 |
109 |
118 |
90 |
126 |
Tangible Equity (non-GAAP) |
$ 27,857 |
$ 27,745 |
$ 27,254 |
$ 27,089 |
$ 26,800 |
$ 27,620 |
$ 21,916 |
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Total assets (GAAP) |
346,917 |
327,439 |
321,455 |
315,167 |
295,834 |
332,030 |
274,871 |
Less: intangible assets |
81 |
90 |
99 |
109 |
118 |
90 |
126 |
Tangible assets (non-GAAP) |
$ 346,836 |
$ 327,349 |
$ 321,356 |
$ 315,058 |
$ 295,716 |
$ 331,940 |
$ 274,745 |
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Total equity to total assets (GAAP) |
8.05% |
8.50% |
8.51% |
8.63% |
9.10% |
8.35% |
8.02% |
Book value per share (GAAP) |
$ 4.24 |
$ 4.23 |
$ 4.15 |
$ 4.18 |
$ 4.14 |
$ 4.22 |
$ 3.39 |
Tangible equity to tangible assets
(non-GAAP) |
8.03% |
8.48% |
8.48% |
8.60% |
9.06% |
8.32% |
7.98% |
Tangible book value per share (non-GAAP) |
$ 4.23 |
$ 4.21 |
$ 4.14 |
$ 4.16 |
$ 4.12 |
$ 4.21 |
$ 3.37 |
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CONTACT: Mark Severson,
EVP & CFO, Cordia Bancorp Inc.
804-763-1322
Grafico Azioni Cordia Bancorp Inc. (NASDAQ:BVA)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni Cordia Bancorp Inc. (NASDAQ:BVA)
Storico
Da Giu 2023 a Giu 2024