CIB Marine Bancshares, Inc. Announces Third Quarter 2024 Results
CIB MARINE BANCSHARES (CIBH)
NASDAQ:AMEX Investor Relations:
cibmarine.com
Company Research
Source: GlobeNewswire
BROOKFIELD, Wis., Oct. 17, 2024 (GLOBE NEWSWIRE) -- CIB Marine Bancshares, Inc. (the “Company” or “CIB Marine”) (OTCQX: CIBH), the holding company of CIBM Bank (the “Bank”), announced its unaudited results of operations and financial condition for the quarter and nine months ended September 30, 2024. Earnings are up $0.7 million for the quarter when compared to the same quarter in 2023, and up by $0.6 million compared to the prior quarter in 2024, if excluding the effects of the gain on sale from the sale-leaseback transaction in the prior quarter. Net income for the quarter was $1.1 million, or $0.79 basic and $0.59 diluted earnings per share, compared to $0.4 million, or $0.28 basic and $0.21 diluted earnings per share, for the same period of 2023. Net income for the nine months ended September 30, 2024, was $5.0 million, or $3.73 basic and $2.75 diluted earnings per share, compared to $1.8 million, or $1.34 basic and $0.98 diluted earnings per share, for the same period of 2023.
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