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RBAZ Bancorp, Inc. Announces Unaudited Financial Results For the Quarter Ending September 30, 2024 [Yahoo! Finance]

RBAZ BANCORP INC (RBAZ) 
Company Research Source: Yahoo! Finance
of Republic Bank of Arizona (the “Bank” or “RBAZ”), announced a consolidated net income of $981,000, or $0.55 per share, for the quarter ended September 30, 2024 and $2,586,000, or $1.45 per share, for the nine months ended September 30, 2024 as compared to a consolidated net income of $748,000, or $0.41 per share, for the quarter ended September 30, 2023 and $1,771,000, or $0.98 per share, for the nine months ended September 30, 2023. President and CEO Brian Ruisinger stated “I am pleased with our strong Q3 earnings performance as we achieved a 22% increase in our net interest margin while the increase in overhead costs was nominal at 2% from the year ago quarter. Net interest margin was bolstered by premium loan pricing that more than offset the increase in cost of deposits over the same period. Additionally, non-interest income was up 26% over the same quarter from a year ago. RBAZ experienced a surge in loan growth in Q3, which necessitated a commensurate increase in our allowan Show less Read more
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