Ottawa Bancorp, Inc. Announces Second Quarter 2024 Results
Ottawa Savings Bancorp, Inc. (IL) (OTTW)
NASDAQ:AMEX Investor Relations:
ottawasavings.com/investor-information
Company Research
Source: GlobeNewswire
OTTAWA, Ill., Aug. 13, 2024 (GLOBE NEWSWIRE) -- Ottawa Bancorp, Inc. (the “Company”) (OTCQX: OTTW), the holding company for OSB Community Bank (the “Bank”), announced net loss of ($0.2) million, or $(0.08) per basic and diluted common share for the three months ended June 30, 2024, compared to net income of $0.5 million, or $0.22 per basic and diluted common share for the three months ended June 30, 2023. For the six months ended June 30, 2024, the Company announced net income of $0.1 million, or $0.02 per basic and diluted common share, compared to net income of $1.0 million, or $0.39 per basic and diluted common share for the six months ended June 30, 2023. During the current quarter, the Company executed a balance sheet management strategy designed to re-position the investment portfolio, generate additional liquidity and improve net interest income on a go-forward basis. Twenty-one investment securities were sold generating about $4 million of cash and a realized loss of $0.6 mi
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