Kish Bancorp, Inc. Reports Net Income of $4.2 Million in the Third Quarter of 2024 and $10.4 Million in the First Nine Months of 2024
KISH BANCORP INC (KISB)
Company Research
Source: Business Wire
STATE COLLEGE, Pa.--(BUSINESS WIRE)--Kish Bancorp, Inc. (OTCQX: KISB) (“Kish” or the “Company”), parent company of Kish Bank, reported net income of $4.2 million, or $1.41 per share, for the third quarter of 2024, compared to $3.2 million, or $1.06 per share, for the second quarter of 2024, and $3.5 million, or $1.32 per share, for the third quarter of 2023. For the first nine months of 2024, net income was $10.4 million, or $3.53 per share, compared to $10.0 million, or $3.79 per share, for the nine-month period in 2023. All results are unaudited.Results for the third quarter of 2024 included a $665,000 provision for credit losses, compared to a $467,000 provision for credit losses in the second quarter of 2024, and a $51,000 provision for credit losses in the third quarter of 2023. The increase in the provision for credit losses during the current quarter was due to adjustments dictated by the Company’s CECL accounting model supporting the expansion in its commercial loan portfo
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