FOR IMMEDIATE RELEASE
Denmark Bancshares, Inc.
103 E. Main St.
P.O. Box 130
Denmark, WI 54208‐0130
Phone: (920) 863‐2161
Fax: (920) 863‐6159
DenmarkState.com
For extra data, contact:
Scot G. Thompson, President and CEO
Jacqui A. Engebos, Senior Vice President and Chief Financial Officer
Phone: (920) 863‐2161, DenmarkState.com
Denmark Bancshares, Inc. First Quarter 2022 Earnings
DENMARK, Wis. (June 8, 2022) – Denmark Bancshares, Inc. (“DBI”) has reported the next earnings for the primary quarter of 2022. It is necessary to know that DBI’s pending merger with Bank First Corporation, which is anticipated to shut within the 3rd quarter of 2022, had a cloth impression on DBI’s outcomes of operations for the primary quarter of 2022.
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SELECTED FINANCIAL DATA |
March 31, |
December 31, |
March 31, |
||||
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(In 1000’s, besides per share information) |
2022 |
2021 |
2021 |
||||
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Financial Condition (1) |
|||||||
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Total Loans |
$472,170 |
$479,057 |
$476,986 |
||||
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Allowance for credit score losses |
7,721 |
7,741 |
7,750 |
||||
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Investment securities |
32,840 |
36,462 |
33,383 |
||||
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Assets |
682,670 |
687,644 |
654,112 |
||||
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Deposits |
610,995 |
614,497 |
578,331 |
||||
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Other borrowed funds |
899 |
933 |
6,034 |
||||
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Stockholders’ fairness |
67,671 |
68,026 |
66,504 |
||||
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Book worth per share |
$21.81 |
$21.99 |
$21.11 |
||||
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Financial Ratios |
|||||||
|
Average fairness to common property |
10.09% |
10.22% |
10.21% |
||||
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Tier 1 capital to common property (leverage) |
10.11% |
10.15% |
10.18% |
||||
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Tier 1 capital to risk-weighted property |
13.61% |
13.37% |
13.98% |
||||
|
Total capital to risk-weighted property |
14.86% |
14.62% |
15.24% |
||||
|
Allowance for credit score losses to whole loans (1) |
1.64% |
1.62% |
1.56% |
||||
|
Loans overdue 30 to 90 days to whole loans |
0.54% |
0.00% |
0.00% |
||||
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Nonaccrual loans to whole loans |
0.07% |
0.09% |
0.10% |
||||
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Non-performing loans to allowance for credit score losses |
4.02% |
5.82% |
6.28% |
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For the Three Months |
|||||
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Ended March 31, |
|||||
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Operating Results |
2022 |
2021 |
|||
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Interest earnings |
$5,204 |
$5,974 |
|||
|
Interest expense |
431 |
1,126 |
|||
|
Net curiosity earnings |
4,773 |
4,848 |
|||
|
Provision for credit score losses |
0 |
75 |
|||
|
Noninterest earnings |
782 |
1,558 |
|||
|
Noninterest expense |
4,532 |
4,188 |
|||
|
Income tax expense |
279 |
545 |
|||
|
Net earnings |
744 |
1,598 |
|||
|
Net earnings per share |
$0.24 |
$0.51 |
|||
|
Operating Ratios |
|||||
|
Return on common fairness |
4.35% |
9.65% |
|||
|
Return on common property |
0.44% |
0.98% |
|||
|
Interest charge unfold (tax equal) |
2.96% |
2.91% |
(1) As of the interval ending
About Denmark Bancshares, Inc.
DBI, headquartered in Denmark, Wisconsin, is a diversified one‐financial institution holding firm. Denmark State Bank, DBI’s subsidiary financial institution, is an unbiased group financial institution that gives full‐service banking places of work in Denmark, Bellevue, Howard, Lawrence, Reedsville, Shawano and Whitelaw, Wisconsin, serving primarily Brown, Kewaunee, Manitowoc, Outagamie, Shawano and Sheboygan Counties. DSB gives all kinds of economic services and products together with loans, deposits, mortgage banking, and funding companies. For extra details about DSB, go to www.DenmarkState.com.
DISCLAIMER:
The monetary data introduced on this information launch is unaudited and doesn’t embrace the entire data and footnotes required by accounting ideas typically accepted within the United States of America for full monetary statements.
In addition, this information launch comprises ahead‐wanting statements in regards to the monetary situation, outcomes of operations and enterprise of DBI and DSB. Forward‐wanting statements will be recognized by the truth that they don’t relate strictly to historic or present details. They usually embrace the phrases “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate” or phrases of comparable that means, or future or conditional verbs reminiscent of “would,” “should,” “could” or “may.”
Forward‐wanting statements, by their nature, are topic to dangers and uncertainties. Numerous elements, lots of that are past the management of DBI, may trigger precise circumstances, occasions or outcomes to vary considerably from these indicated by the ahead‐wanting statements. These elements embrace sure credit score, market, operational, liquidity and rate of interest dangers related to the corporate’s enterprise and operations. Other elements embrace adjustments usually enterprise and financial circumstances, developments (together with assortment efforts) referring to the recognized non‐performing loans and different downside loans and property, world occasions, competitors, fiscal and financial insurance policies and laws.
Forward‐wanting statements communicate solely as of the date they’re made, and DBI doesn’t undertake to replace ahead‐wanting statements to mirror circumstances or occasions that happen after the date the ahead‐wanting statements are made.
Disclaimer
Denmark Bancshares Inc. revealed this content material on 09 June 2022 and is solely answerable for the knowledge contained therein. Distributed by Public, unedited and unaltered, on 09 June 2022 16:21:11 UTC.
Publicnow 2022
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