Ottawa Bancorp, Inc. Announces Third Quarter 2024 Results [Yahoo! Finance]
Ottawa Savings Bancorp, Inc. (IL) (OTTW)
NASDAQ:AMEX Investor Relations:
ottawasavings.com/investor-information
Company Research
Source: Yahoo! Finance
Bank (the “Bank”), announced net income of $0.2 million, or $0.08 per basic and diluted common share for the three months ended September 30, 2024, compared to net income of $0.5 million, or $0.20 per basic and diluted common share for the three months ended September 30, 2023. For the nine months ended September 30, 2024, the Company announced net income of $0.3 million, or $0.10 per basic and diluted common share, compared to net income of $1.5 million, or $0.58 per basic and diluted common share for the nine months ended September 30, 2023. The loan portfolio, net of allowance, decreased to $304.2 million as of September 30, 2024 from $312.2 million as of December 31, 2023 as originations of $36.0 million were lower than payoffs and payments. Non-performing loans were $4.8 million at September 30, 2024 and $4.8 million at December 31, 2023. Due to the decrease in the loan balance, the ratio of non-performing loans to gross loans increased to 1.57% at September 30, 2024 from 1.52% a
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