CORNERSTONE BANCORP, INC. QUARTERLY REPORT - SEPTEMBER 30, 2024
CORNERSTONE BANCORP, INC. QUARTERLY REPORT - SEPTEMBER 30, 2024
PALATINE, Ill., Oct. 22, 2024 /PRNewswire/ --
2024年10月22日，伊利诺伊州帕拉丁（Palatine）/--
CORNERSTONE BANCORP, INC.
臻基银行集团，公司
THIRD QUARTER 2024 HIGHLIGHTS (At or for period ended 9/30/2024)
2024年第三季度亮点（截至2024年9/30日）
Income Statement Highlights
损益表亮点
- Consolidated net income was $2.6 million in 3Q24, or $2.69 per diluted share, compared to $2.7 million in 3Q23, or $2.75 per diluted share.
- The net interest margin (NIM) was 3.33% for 3Q24, compared to 3.49% for 3Q23.
- Interest earned on the Bank's interest-bearing deposit account at the Federal Reserve Bank was $1.3 million for 3Q24 compared to $2.8 million for 3Q23.
- Interest earned on US Treasury securities was $1.7 million for 3Q24 compared to $106,000 for 3Q23. This interest is exempt from Illinois income taxes.
- Noninterest expense was $6.2 million in 3Q24 compared to $5.9 million in 3Q23.
- 第三季度净利润为260万美元，每股稀释后2.69美元，相比于去年同期的270万美元，每股稀释后2.75美元。
- 第三季度净利息收益率为3.33%，相比于去年同期的3.49%。
- 银行在联邦储备银行帐户上的利息收入为130万美元，相比于去年同期的280万美元。
- 美国国债证券的利息收入为170万美元，相比于去年同期的10.6万美元。这笔利息免征伊利诺伊州所得税。
- 第三季度24年，非利息支出为620万美元，相比于第三季度23年的590万美元。
Balance Sheet Highlights
资产负债表亮点
- Total consolidated assets increased 4.6% to $1.0 billion on September 30, 2024, compared to $960.0 million a year earlier.
- Tangible shareholders' equity improved 13.5% to $78.3 million on September 30, 2024, compared to $69.0 million a year earlier.
- Interest-bearing deposits at correspondent banks totaled $111.3 million on September 30, 2024 (11.0% of total assets) compared to $203.5 million a year earlier (21.2% of total assets).
- The securities portfolio totaled $222.1 million on September 30, 2024, compared to $103.6 million a year earlier. The current portfolio includes $119.8 million of one-month US Treasury bills. The weighted average remaining life approximates 1.3 years.
- The loan portfolio totaled $651.0 million on September 30, 2024, $18.0 million, or 2.8%, higher than a year earlier.
- Total deposits and repurchase agreements increased 4.0% to $889.3 million on September 30, 2024, compared to $864.1 million a year earlier.
- The Corporation's other borrowings were $7.8 million on September 30, 2024, compared to $7.9 million a year earlier.
- The Bank continues to be well-capitalized, with a Tier 1 Leverage Capital Ratio of 9.80% on September 30, 2024.
- 截至2024年9月30日，总资产增长了4.6%，达到10亿美元，相比一年前的96000万美元。
- 截至2024年9月30日，有形股东权益提高了13.5%，达到7830万美元，相比一年前的6900万美元。
- 截至2024年9月30日，银行存款占比总资产的11.0%，合计11130万美元，相比一年前的20350万美元（占比21.2%）。
- 截至2024年9月30日，证券投资组合总额为22210万美元，相比一年前的10360万美元。目前的投资组合包括11980万美元的一个月美国国库券。加权平均剩余期限大约为1.3年。
- 截至2024年9月30日，贷款组合总额为65100万美元，比一年前高1800万美元，增长了2.8%。
- 截至2024年9月30日，总存款和回购协议增长了4.0%，达到88930万美元，相比一年前的86410万美元。
- 公司在2024年9月30日的其他借款金额为780万美元，比一年前的790万美元少。
- 该银行在2024年9月30日仍然资本充足，一级杠杆资本比例为9.80%。
Trust and Wealth Management
信托和财富管理
- Trust and wealth management assets totaled $1.02 billion on September 30, 2024, compared to $896.6 million a year earlier.
- 信托和财富管理资产于2024年9月30日总计10.2亿美元，比一年前的89660万美元增加。
About Cornerstone Bancorp, Inc.
关于Cornerstone Bancorp, Inc.
Founded in 2000, Cornerstone Bancorp, Inc., and its wholly-owned subsidiary, Cornerstone National Bank & Trust Company (collectively "Cornerstone") is committed to serving the commercial banking and investment needs of families and family-owned businesses. Cornerstone serves its clients by investing heavily in people and technology, providing an uncommon relationship experience. Cornerstone has been successful in attracting new clients and talent as the Chicago market consolidates and large banks deemphasize relationships in favor of an institutional approach.
成立于2000年的Cornerstone Bancorp, Inc.及其全资子公司Cornerstone National Bank & Trust Company（统称“Cornerstone”）致力于为家庭和家族企业提供商业银行和投资需求。Cornerstone通过大量投资于人才和科技，提供非同寻常的关系体验，为客户提供服务。随着芝加哥市场的整合和大型银行减弱关系以支持机构化方法，Cornerstone成功地吸引了新的客户和人才。
Cornerstone is a leader in commercial lending services including equipment, real estate and construction loans and operating lines of credit as well as business treasury management services and association loans for condominium and townhome associations.
Cornerstone在商业贷款服务领域居于领先地位，包括设备、房地产和施工贷款，运营贷款以及商务资金管理服务，以及用于公寓和联排别墅协会的贷款。
For individuals and families, wealth management services are offered, including investment management, trust and custody services, retirement plans, and estate and guardianship administration.
为个人和家庭提供财富管理服务，包括投资管理、信托和托管服务、退休计划，以及遗产和监护管理。
Headquartered in Palatine, Illinois, Cornerstone maintains offices in Crystal Lake, Deer Park, Naperville and Schaumburg. Visit us on the web at .
总部位于伊利诺伊州帕拉丁，Cornerstone在水晶湖、迪尔帕克、内珀维尔和绍姆堡设有办公室。请访问我们的网站 。
Forward Looking Statement
前瞻性声明
This release may contain "forward-looking statements" that are subject to risks and uncertainties. Readers should not place undue reliance on forward-looking statements, which reflect management's views only as of the date hereof. All statements, other than statements of historical fact, regarding our financial position, business strategy and management's plans and objectives for future operations are forward-looking statements. When used in this report, the words "anticipate," "believe," "estimate," "expect," and "intend" and words or phrases of similar meaning, as they relate to Cornerstone or management, are intended to help identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although we believe that management's expectations as reflected in forward-looking statements are reasonable, we cannot assure readers that those expectations will prove to be correct. Forward-looking statements are subject to various risks and uncertainties that may cause our actual results to differ materially and adversely from our expectations as indicated in the forward-looking statements. These risks and uncertainties include our ability to maintain or expand our market share or net interest margins, and to implement our marketing and growth strategies. Further, actual results may be affected by our ability to compete on price and other factors with other financial institutions; customer acceptance of new products and services; the regulatory environment in which we operate; and general trends in the local, regional and national banking industry and economy, as those factors relate to our cost of funds and return on assets. In addition, there are risks inherent in the banking industry relating to collectability of loans and changes in interest rates. Many of these risks, as well as other risks may have a material adverse impact on our operations and business.
本发布可能包含“前瞻性声明”，受到风险和不确定性的影响。读者不应过分依赖前瞻性声明，这些声明仅反映了管理层截至本文日期的观点。关于我们财务状况、业务策略以及管理层未来运营计划和目标的所有声明，均属于前瞻性声明，而非历史事实声明。在本报告中使用的“预期”，“相信”，“估计”，“期望”和“打算”以及具有类似含义的词语，特别是涉及到Cornerstone或管理层的，均旨在帮助确认符合1995年《私人证券诉讼改革法案》意义的前瞻性声明。虽然我们认为管理层在前瞻性声明中的期望是合理的，但我们不能向读者保证这些期望将被证明是正确的。前瞻性声明受到各种风险和不确定性的影响，可能导致我们的实际结果与前瞻性声明中所示的期望有重大和不利的差异。这些风险和不确定性包括我们保持或扩大市场份额或净利息收益率的能力，以及执行我们的营销和增长策略。此外，实际结果可能受到我们与其他金融机构在价格和其他方面的竞争能力；客户对新产品和服务的接受程度；我们运营的监管环境；以及与我们的资金成本和资产回报相关的地方、区域和国家银行业和经济的一般趋势等因素的影响。此外，银行业固有的风险涉及贷款收回能力和利率变动。许多这些风险以及其他风险可能对我们的业务运营产生重大不利影响。
|
Financial Highlights (Unaudited) | ||||||
|
($ in Thousands, Except Share and Per Share Data) | ||||||
|
For the Quarter Ending |
Year To Date |
|||||
|
Income Statement |
30-Sep-24 |
30-Sep-23 |
% Change |
30-Sep-24 |
30-Sep-23 |
|
|
Net Interest Income |
$ 8,350 |
$ 8,462 |
-1.3 % |
$ 24,460 |
$ 25,633 |
|
|
Provision for Loan Losses |
- |
13 |
0.0 % |
300 |
42 |
|
|
Noninterest Income |
1,482 |
1,295 |
14.4 % |
4.108 |
3,931 |
|
|
Noninterest Expense |
6,275 |
5,925 |
5.9 % |
19,007 |
17,811 |
|
|
Provision for Income Taxes |
922 |
1,106 |
-16.6 % |
2,473 |
3,329 |
|
|
Net Income |
$ 2,635 |
$ 2,713 |
-2.9 % |
$ 6,788 |
$ 8,382 |
|
|
Ratios |
||||||
|
Return on Average Assets * |
1.04 % |
1.11 % |
-6.1 % |
0.94 % |
1.17 % |
|
|
Return on Average Stockholders' Equity * |
13.05 % |
14.43 % |
-9.6 % |
11.81 % |
15.93 % |
|
|
Net Interest Margin |
3.33 % |
3.49 % |
-4.4 % |
3.30 % |
3.57 % |
|
|
Allowance for Loan Losses to Gross Loans |
1.30 % |
1.28 % |
0.8 % |
1.30 % |
1.28 % |
|
|
Dividends Per Share |
$ - |
$ - |
N\A |
$ 2.50 |
$ - |
|
|
Earnings Per Share |
$ 2.69 |
$ 2.75 |
-2.5 % |
$ 6.93 |
$ 8.47 |
|
|
End of Period |
End of Period |
|||||
|
Balance Sheet Data |
30-Sep-24 |
30-Sep-23 |
% Change |
31-Dec-23 |
31-Dec-22 |
|
|
Total Assets |
$ 1,004,524 |
$ 959,960 |
4.6 % |
$ 958,795 |
$ 989,110 |
|
|
Loans, Net of Allowance for Loan Loss |
$ 642,515 |
$ 624,813 |
2.8 % |
$ 639,509 |
$ 600,999 |
|
|
Deposits and Repurchase Agreements |
$ 889,302 |
$ 864,117 |
4.0 % |
$ 861,203 |
$ 899,327 |
|
|
Trust Preferred Securities |
$ 10,310 |
$ 10,310 |
0.0 % |
$ 10,310 |
$ 10,310 |
|
|
Other Borrowings |
$ 7,763 |
$ 7,888 |
-1.6 % |
$ 7,763 |
$ 12,763 |
|
|
Tangible Shareholders' Equity |
$ 78,336 |
$ 69,035 |
13.5 % |
$ 73,246 |
$ 61,364 |
|
|
Trust and Wealth Management Assets |
$ 1,018,221 |
$ 896,549 |
13.6 % |
$ 954,480 |
$ 848,711 |
|
|
Stock Value Per Common Share Data |
||||||
|
Price-To-Earnings Ratio * |
7.02 |
6.25 |
12.4 % |
6.31 |
6.10 |
|
|
Price-To-Tangible Book Value Ratio |
0.94 |
0.97 |
-3.4 % |
0.93 |
1.04 |
|
|
Tangible Book Value Per Share |
$ 79.83 |
$ 70.16 |
13.8 % |
$ 74.36 |
$ 61.73 |
|
|
Number of Shares Outstanding |
981,235 |
984,039 |
985,039 |
994,088 |
||
|
Average Number of Shares Outstanding |
981,250 |
985,565 |
982,767 |
994,088 |
||
|
Stock Price - High |
$ 75.80 |
$ 68.50 |
$ 70.00 |
$ 64.30 |
||
|
Low |
$ 73.30 |
$ 66.00 |
$ 66.75 |
$ 63.10 |
||
|
Ending |
$ 75.05 |
$ 68.30 |
$ 69.50 |
$ 64.30 |
||
|
财务亮点（未经审计） | ||||||
|
（单位：千美元，除股份和每股数据外） | ||||||
|
截至本季度底 |
截至今年至今 |
|||||
|
损益表 |
24-Sep-30 |
2023年9月30日 |
百分比变动 |
24-Sep-30 |
2023年9月30日 |
|
|
净利息收入 |
$ 8,350 |
$ 8,462 |
-1.3 % |
$ 24,460 |
$ 25,633 |
|
|
贷款损失准备 |
- |
13 |
0.0% |
300 |
42 |
|
|
非利息收入 |
1,482 |
1,295 |
14.4 % |
4.108 |
3,931 |
|
|
非利息费用 |
6,275 |
5,925 |
5.9 % |
19,007 |
17,811 |
|
|
所得税规定 |
922 |
1,106 |
-16.6 % |
2,473 |
3,329 |
|
|
净利润 |
$ 2,635 |
$ 2,713 |
-2.9 % |
$ 6,788 |
$ 8,382 |
|
|
比率 |
||||||
|
资产平均回报率* |
1.04 % |
1.11 % |
-6.1 % |
0.94 % |
1.17 % |
|
|
平均股东权益回报率* |
13.05 % |
14.43 % |
-9.6 % |
11.81 % |
15.93 % |
|
|
净利息收益率 |
3.33 % |
3.49% |
-4.4 % |
3.30 % |
3.57% |
|
|
贷款损失准备金与总贷款比率 |
1.30 % |
1.28 % |
0.8% |
1.30 % |
1.28 % |
|
|
每股股息 |
$ - |
$ - |
N\A |
$ 2.50 |
$ - |
|
|
每股收益 |
$ 2.69 |
$ 2.75 |
-2.5 % |
$ 6.93 |
$ 8.47 |
|
|
期末 |
期末 |
|||||
|
资产负债表数据 |
24-Sep-30 |
2023年9月30日 |
百分比变动 |
2023年12月31日 |
2022年12月31日 |
|
|
总资产 |
$ 1,004,524 |
$ 959,960 |
4.6% |
$ 958,795 |
$ 989,110 |
|
|
贷款余额减允准备贷款损失 |
$ 642,515 |
$ 624,813 |
2.8% |
$ 639,509 |
$ 600,999 |
|
|
存入资金和回购协议 |
$ 889,302 |
$ 864,117 |
4.0% |
$ 861,203 |
$ 899,327 |
|
|
信托优先股 |
$ 10,310 |
$ 10,310 |
0.0% |
$ 10,310 |
$ 10,310 |
|
|
其他借款 |
$ 7,763 |
$ 7,888 |
-1.6 % |
$ 7,763 |
$ 12,763 |
|
|
有形股东权益 |
$ 78,336 |
$ 69,035 |
13.5 % |
$ 73,246 |
$ 61,364 |
|
|
trust和财富管理资产 |
$ 1,018,221 |
$ 896,549 |
13.6% |
$ 954,480 |
$ 848,711 |
|
|
每股普通股的股票价值数据 |
||||||
|
市盈率* |
BLAC股东会议 |
6.25 |
12.4% |
6.31 |
6.10 |
|
|
价格至有形账面价值比率 |
0.94 |
0.97 |
-3.4% |
0.93 |
1.04 |
|
|
每股有形净资产 |
$ 79.83 |
$ 70.16 |
13.8 % |
$ 74.36 |
$ 61.73 |
|
|
流通中股票数 |
981,235 |
984,039 |
985,039 |
994,088 |
||
|
平均流通股数 |
981,250 |
985,565 |
982,767 |
994,088 |
||
|
股价 - 高 |
$ 75.80 |
$ 68.50 |
$ 70.00 |
$ 64.30 |
||
|
低 |
$ 73.30 |
$ 66.00 |
$ 66.75 |
$ 63.10 |
||
|
结转 |
$ 75.05 |
$ 68.30 |
$ 69.50 |
$ 64.30 |
||
* - Quarter returns are based on annualized Net Income; Year-To-Date returns are based on the Last Twelve Months' (LTM) Net Income
* - 季度回报基于年化净利润；年初至今回报基于过去十二个月的净利润
SOURCE Cornerstone Bancorp, Inc.
资料来源： Cornerstone Bancorp, Inc.
