BROOKFIELD, Wis., April 14, 2026 (GLOBE NEWSWIRE) -- CIB Marine Bancshares, Inc. (the “Company” or “CIB Marine”) (OTCQX: CIBH), the holding company of CIBM Bank (the “Bank”), announced its unaudited results of operations and financial condition for the quarter ended March 31, 2026. Net income nearly doubled to $0.6 million for the first quarter of 2026, or $0.45 basic and $0.43 diluted net income per share, compared to $0.3 million during the same quarter of 2025, or $0.24 basic and $0.23 diluted net income per share.
Financial highlights for the quarter include:
- Net interest margin increased to 2.96% compared to 2.81% for the fourth quarter of 2025 and 2.62% for the first quarter of 2025. The rising trend continues as the cost of funds is declining at a faster pace than earning asset yields. Net interest income rose $0.5 million compared to the same quarter of 2025, primarily due to the improved net interest margin.
- The Banking Division’s income for the quarter increased by $0.2 million compared to the same period in 2025, excluding the provision for credit losses. The increase was due to the $0.5 million increase in net interest income compared to the same quarter last year, as CIBM Bank’s net interest margin grew to 3.03% compared to 2.67% over those same time periods. The Mortgage Division earned income of $0.1 million in the first quarter of 2026, due to cost management, refinance activity at the beginning of the quarter, and improved margins.
- The allowance for credit losses to loans rose from 1.27% on December 31, 2025, to 1.30% on March 31, 2026, primarily due to additional provisions for individually assessed loans and qualitative assessment adjustments, which were partially offset by a net recovery in loans during the first quarter. Non-performing assets to total assets was 1.04% and non-accrual loans to loans was 1.30% on March 31, 2026, compared to 1.04% and 1.31%, respectively, on December 31, 2025.
- Loan balances increased by $3 million and deposits by $17 million during the first quarter of 2026. The deposit growth replaced a reduction in total borrowings at CIBM Bank.
Mr. J. Brian Chaffin, CIB Marine’s President and CEO, commented, “The improvement to our net interest margin continues, with CIBM Bank reporting at 3.03%. We are pleased with the progress we are making and look to improve this trend. Key drivers include growth in our loan portfolio, particularly within our commercial segments, continued development of deposit relationships, and ongoing asset and liability repricing activities.
Our cost controls remain effective. Combined with growing revenues they have improved our outlook for higher earnings. At the same time, credit loss provisions increased in the first quarter compared to the same period last year. We continue to closely monitor credit performance and broader economic conditions, including the potential impact of the conflict in the Middle East.”
Turning to the Company’s common stock repurchase plan, he added, “First quarter 2026 purchases totaled $1.1 million. Since February 2025, we have spent $2.3 million of the $2.5 million currently authorized under the plan through a combination of open market and private transactions, acquiring 64,100 shares of CIBH stock at an average price of $35.99 per share.
Based on tangible book value, the estimated return on these repurchases is approximately 60%. In addition, from the day prior to the commencement of the purchase program in February 2025 through March 31, 2026, CIBH stock price reported on OTCQX increased by 30%, compared to a 1% increase in the KBW Nasdaq Regional Banking Total Return Index (KRXTR) over the same period. While CIBH stock has outperformed the index over the past 12 months, as of the date of this release it continues to trade below the March 31, 2026, tangible book value per share of $61.09.”
Finally, looking ahead to the Company’s upcoming annual meeting, he concluded, “We look forward to sharing updates on our operating performance, strategic priorities, and capital plans at the Annual Shareholder Meeting on Thursday, April 30, 2026. Additional details regarding the virtual meeting, along with the related meeting materials, are available on our website.”
CIB Marine Bancshares, Inc. is the holding company for CIBM Bank, which operates nine banking offices in Illinois, Wisconsin, and Indiana, and has mortgage loan officers and/or offices in six states. More information on the Company is available at www.cibmarine.com, including recent shareholder letters, links to regulatory financial reports, and audited financial statements.
| FORWARD-LOOKING STATEMENTS CIB Marine has made statements in this release that may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. CIB Marine intends these forward-looking statements to be subject to the safe harbor created thereby and is including this statement to avail itself of the safe harbor. Forward-looking statements are identified generally by statements containing words and phrases such as “may,” “project,” “are confident,” “should be,” “intend,” “predict,” “believe,” “plan,” “expect,” “estimate,” “anticipate” and similar expressions. These forward-looking statements reflect CIB Marine’s current views with respect to future events and financial performance that are subject to many uncertainties and factors relating to CIB Marine’s operations and the business environment, which could change at any time. There are inherent difficulties in predicting factors that may affect the accuracy of forward-looking statements. Stockholders should note that many factors, some of which are discussed elsewhere in this Earnings Release and in the documents that are incorporated by reference, could affect the future financial results of CIB Marine and could cause those results to differ materially from those expressed in forward-looking statements contained or incorporated by reference in this document. These factors, many of which are beyond CIB Marine’s control, include but are not limited to: • operating, legal, execution, credit, market, security (including cyber), and regulatory risks; • economic, political, and competitive forces affecting CIB Marine’s banking business; • the impact on net interest income and securities values from changes in monetary policy and general economic and political conditions; and • the risk that CIB Marine’s analyses of these risks and forces could be incorrect and/or that the strategies developed to address them could be unsuccessful. These factors should be considered in evaluating the forward-looking statements, and undue reliance should not be placed on such statements. Forward-looking statements speak only as of the date they are made. CIB Marine undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Forward-looking statements are subject to significant risks and uncertainties and CIB Marine’s actual results may differ materially from the results discussed in forward-looking statements. |
| CIB MARINE BANCSHARES, INC. | |||||||||||||||||||||||
| Selected Unaudited Consolidated Financial Data | |||||||||||||||||||||||
| At or for the | |||||||||||||||||||||||
| Quarters Ended | 3 Months Ended | ||||||||||||||||||||||
| March 31, | December 31, | September 30, | June 30, | March 31, | March 31, | March 31, | |||||||||||||||||
| 2026 | 2025 | 2025 | 2025 | 2025 | 2026 | 2025 | |||||||||||||||||
| (Dollars in thousands, except share and per share data) | |||||||||||||||||||||||
| Selected Statement of Operations Data: | |||||||||||||||||||||||
| Interest and dividend income | $ | 10,586 | $ | 10,881 | $ | 10,780 | $ | 11,017 | $ | 10,941 | $ | 10,586 | $ | 10,941 | |||||||||
| Interest expense | 4,760 | 5,208 | 5,196 | 5,541 | 5,652 | 4,760 | 5,652 | ||||||||||||||||
| Net interest income | 5,826 | 5,673 | 5,584 | 5,476 | 5,289 | 5,826 | 5,289 | ||||||||||||||||
| Provision for (reversal of) credit losses | 268 | 1,174 | (90 | ) | 9 | 42 | 268 | 42 | |||||||||||||||
| Net interest income after provision for (reversal of) credit losses | 5,558 | 4,499 | 5,674 | 5,467 | 5,247 | 5,558 | 5,247 | ||||||||||||||||
| Noninterest income (1) | 1,178 | 1,292 | 1,908 | 1,765 | 1,552 | 1,178 | 1,552 | ||||||||||||||||
| Noninterest expense | 5,969 | 6,223 | 6,375 | 6,311 | 6,373 | 5,969 | 6,373 | ||||||||||||||||
| Income (loss) before income taxes | 767 | (432 | ) | 1,207 | 921 | 426 | 767 | 426 | |||||||||||||||
| Income tax expense (benefit) | 181 | (115 | ) | 299 | 253 | 105 | 181 | 105 | |||||||||||||||
| Net income (loss) | $ | 586 | $ | (317 | ) | $ | 908 | $ | 668 | $ | 321 | $ | 586 | $ | 321 | ||||||||
| Common Share Data: | |||||||||||||||||||||||
| Basic net income (loss) per share | $ | 0.45 | $ | (0.24 | ) | $ | 0.67 | $ | 0.49 | $ | 0.24 | $ | 0.45 | $ | 0.24 | ||||||||
| Diluted net income (loss) per share | 0.43 | (0.24 | ) | 0.65 | 0.48 | 0.23 | 0.43 | 0.23 | |||||||||||||||
| Dividend | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||||||||||
| Tangible book value per share (2) | 61.09 | 60.95 | 60.72 | 59.55 | 58.25 | 61.09 | 58.25 | ||||||||||||||||
| Book value per share (2) | 61.13 | 61.00 | 60.77 | 59.59 | 58.30 | 61.13 | 58.30 | ||||||||||||||||
| Weighted average shares outstanding – basic | 1,310,842 | 1,334,388 | 1,350,097 | 1,354,477 | 1,353,859 | 1,310,842 | 1,353,859 | ||||||||||||||||
| Weighted average shares outstanding – diluted | 1,349,513 | 1,379,094 | 1,396,512 | 1,402,229 | 1,401,138 | 1,349,513 | 1,401,138 | ||||||||||||||||
| Financial Condition Data: | |||||||||||||||||||||||
| Total assets | $ | 832,790 | $ | 833,304 | $ | 836,760 | $ | 838,441 | $ | 852,018 | $ | 832,790 | $ | 852,018 | |||||||||
| Loans | 669,543 | 666,199 | 655,620 | 665,393 | 684,787 | 669,543 | 684,787 | ||||||||||||||||
| Allowance for credit losses on loans | (8,696 | ) | (8,465 | ) | (8,721 | ) | (8,793 | ) | (8,818 | ) | (8,696 | ) | (8,818 | ) | |||||||||
| Investment securities | 120,629 | 123,318 | 128,214 | 126,795 | 124,109 | 120,629 | 124,109 | ||||||||||||||||
| Deposits | 677,349 | 660,614 | 702,078 | 684,480 | 692,028 | 677,349 | 692,028 | ||||||||||||||||
| Borrowings | 62,265 | 77,817 | 39,245 | 59,292 | 67,214 | 62,265 | 67,214 | ||||||||||||||||
| Stockholders' equity | 80,647 | 81,414 | 81,789 | 80,492 | 79,309 | 80,647 | 79,309 | ||||||||||||||||
| Financial Ratios and Other Data: | |||||||||||||||||||||||
| Performance Ratios: | |||||||||||||||||||||||
| Net interest margin (3) | 2.96 | % | 2.81 | % | 2.78 | % | 2.69 | % | 2.62 | % | 2.96 | % | 2.62 | % | |||||||||
| Net interest spread (4) | 2.40 | % | 2.20 | % | 2.17 | % | 2.06 | % | 1.99 | % | 2.40 | % | 1.99 | % | |||||||||
| Noninterest income to average assets (5) | 0.59 | % | 0.62 | % | 0.91 | % | 0.83 | % | 0.73 | % | 0.59 | % | 0.73 | % | |||||||||
| Noninterest expense to average assets | 2.95 | % | 2.98 | % | 3.06 | % | 3.00 | % | 3.05 | % | 2.95 | % | 3.05 | % | |||||||||
| Efficiency ratio (6) | 85.03 | % | 89.37 | % | 85.33 | % | 87.24 | % | 93.65 | % | 85.03 | % | 93.65 | % | |||||||||
| Earnings (loss) on average assets (7) | 0.29 | % | -0.15 | % | 0.44 | % | 0.32 | % | 0.15 | % | 0.29 | % | 0.15 | % | |||||||||
| Earnings (loss) on average equity (8) | 2.90 | % | -1.53 | % | 4.46 | % | 3.36 | % | 1.65 | % | 2.90 | % | 1.65 | % | |||||||||
| Asset Quality Ratios: | |||||||||||||||||||||||
| Nonaccrual loans to loans (9) | 1.30 | % | 1.31 | % | 0.95 | % | 0.85 | % | 0.84 | % | 1.30 | % | 0.84 | % | |||||||||
| Nonperforming assets to total assets (10) | 1.04 | % | 1.04 | % | 0.75 | % | 0.68 | % | 0.67 | % | 1.04 | % | 0.67 | % | |||||||||
| Nonaccrual loans, modified loans to borrowers experiencing financial difficulty, loans 90 days or more past due and still accruing to total loans | 2.20 | % | 2.36 | % | 2.38 | % | 2.33 | % | 1.21 | % | 2.20 | % | 1.21 | % | |||||||||
| Nonaccrual loans, OREO, modified loans to borrowers experiencing financial difficulty, loans 90 days or more past due and still accruing to total assets | 1.77 | % | 1.89 | % | 1.87 | % | 1.85 | % | 0.97 | % | 1.77 | % | 0.97 | % | |||||||||
| Allowance for credit losses on loans to total loans (9) | 1.30 | % | 1.27 | % | 1.33 | % | 1.32 | % | 1.29 | % | 1.30 | % | 1.29 | % | |||||||||
| Allowance for credit losses on loans to nonaccrual loans, modified loans to borrowers experiencing financial difficulty loans and loans 90 days or more past due and still accruing (9) | 59.08 | % | 53.87 | % | 55.78 | % | 56.76 | % | 106.25 | % | 59.08 | % | 106.25 | % | |||||||||
| Net charge-offs (recoveries) annualized to average loans (9) | -0.06 | % | 0.85 | % | 0.00 | % | -0.02 | % | -0.01 | % | -0.06 | % | -0.01 | % | |||||||||
| Capital Ratios: | |||||||||||||||||||||||
| Total equity to total assets | 9.68 | % | 9.77 | % | 9.77 | % | 9.60 | % | 9.31 | % | 9.68 | % | 9.31 | % | |||||||||
| Total risk-based capital ratio | 13.53 | % | 13.67 | % | 13.90 | % | 13.55 | % | 13.34 | % | 13.53 | % | 13.34 | % | |||||||||
| Tier 1 risk-based capital ratio | 10.80 | % | 10.94 | % | 11.15 | % | 10.82 | % | 10.62 | % | 10.80 | % | 10.62 | % | |||||||||
| Leverage capital ratio | 8.83 | % | 8.80 | % | 8.88 | % | 8.54 | % | 8.40 | % | 8.83 | % | 8.40 | % | |||||||||
| Other Data: | |||||||||||||||||||||||
| Number of employees (full-time equivalent) | 141 | 142 | 143 | 144 | 152 | 141 | 152 | ||||||||||||||||
| Number of banking facilities | 9 | 9 | 9 | 9 | 9 | 9 | 9 | ||||||||||||||||
| (1) Noninterest income includes gains and losses on securities. | |||||||||||||||||||||||
| (2) Tangible book value per share is the stockholder equity less the carry value of the preferred stock and less the goodwill and intangible assets, divided by the total shares of common outstanding. Book value per share is the stockholder equity less the liquidation preference of the preferred stock, divided by the total shares of common outstanding. Book value measures are reported inclusive of the net deferred tax assets. As presented here, shares of common outstanding excludes unvested restricted stock awards. | |||||||||||||||||||||||
| (3) Net interest margin is the ratio of net interest income to average interest-earning assets. | |||||||||||||||||||||||
| (4) Net interest spread is the yield on average interest-earning assets less the rate on average interest-bearing liabilities. | |||||||||||||||||||||||
| (5) Noninterest income to average assets excludes gains and losses on securities. | |||||||||||||||||||||||
| (6) The efficiency ratio is noninterest expense divided by the sum of net interest income plus noninterest income, excluding gains and losses on securities. | |||||||||||||||||||||||
| (7) Earnings on average assets are net income divided by average total assets. | |||||||||||||||||||||||
| (8) Earnings on average equity are net income divided by average stockholders' equity. | |||||||||||||||||||||||
| (9) Excludes loans held for sale. | |||||||||||||||||||||||
| (10) Nonperforming assets includes nonaccrual loans, nonaccrual securities, and other real estate owned. | |||||||||||||||||||||||
| CIB MARINE BANCSHARES, INC. | ||||||||||||||||
| Consolidated Balance Sheets (unaudited) | ||||||||||||||||
| March 31, | December 31, | September 30, | June 30, | March 31, | ||||||||||||
| 2026 | 2025 | 2025 | 2025 | 2025 | ||||||||||||
| (Dollars in Thousands, Except Shares) | ||||||||||||||||
| Assets | ||||||||||||||||
| Cash and due from banks | $ | 9,584 | $ | 8,102 | $ | 19,016 | $ | 10,363 | $ | 7,717 | ||||||
| Securities available for sale | 118,436 | 121,110 | 126,017 | 124,618 | 121,939 | |||||||||||
| Equity securities at fair value | 2,193 | 2,208 | 2,197 | 2,177 | 2,170 | |||||||||||
| Loans held for sale | 6,160 | 8,640 | 7,287 | 7,733 | 7,685 | |||||||||||
| Loans | 669,543 | 666,199 | 655,620 | 665,393 | 684,787 | |||||||||||
| Allowance for credit losses on loans | (8,696 | ) | (8,465 | ) | (8,721 | ) | (8,793 | ) | (8,818 | ) | ||||||
| Net loans | 660,847 | 657,734 | 646,899 | 656,600 | 675,969 | |||||||||||
| Federal Home Loan Bank stock | 2,707 | 2,567 | 2,195 | 3,401 | 2,607 | |||||||||||
| Premises and equipment, net | 1,610 | 1,675 | 1,731 | 1,660 | 1,486 | |||||||||||
| Accrued interest receivable | 2,890 | 2,763 | 2,803 | 2,733 | 2,680 | |||||||||||
| Deferred tax assets, net | 11,589 | 11,440 | 11,745 | 12,160 | 12,529 | |||||||||||
| Other real estate owned, net | – | – | – | – | – | |||||||||||
| Bank owned life insurance | 6,695 | 6,641 | 6,589 | 6,536 | 6,486 | |||||||||||
| Goodwill and other intangible assets | 64 | 64 | 64 | 64 | 64 | |||||||||||
| Other assets | 10,015 | 10,360 | 10,217 | 10,396 | 10,686 | |||||||||||
| Total assets | $ | 832,790 | $ | 833,304 | $ | 836,760 | $ | 838,441 | $ | 852,018 | ||||||
| Liabilities and Stockholders' Equity | ||||||||||||||||
| Deposits: | ||||||||||||||||
| Noninterest-bearing demand | $ | 86,243 | $ | 85,637 | $ | 95,307 | $ | 87,479 | $ | 98,403 | ||||||
| Interest-bearing demand | 91,209 | 86,577 | 107,512 | 74,921 | 77,620 | |||||||||||
| Savings | 232,493 | 218,515 | 222,450 | 226,663 | 232,046 | |||||||||||
| Time | 267,404 | 269,885 | 276,809 | 295,417 | 283,959 | |||||||||||
| Total deposits | 677,349 | 660,614 | 702,078 | 684,480 | 692,028 | |||||||||||
| Short-term borrowings | 52,462 | 68,022 | 29,458 | 49,514 | 57,444 | |||||||||||
| Long-term borrowings | 9,803 | 9,795 | 9,787 | 9,778 | 9,770 | |||||||||||
| Accrued interest payable | 1,237 | 1,468 | 1,456 | 1,656 | 1,614 | |||||||||||
| Other liabilities | 11,292 | 11,991 | 12,192 | 12,521 | 11,853 | |||||||||||
| Total liabilities | 752,143 | 751,890 | 754,971 | 757,949 | 772,709 | |||||||||||
| Stockholders' Equity | ||||||||||||||||
| Preferred stock, $1 par value; 5,000,000 authorized shares at both March 31, 2026 and December 31, 2025; 7% fixed rate noncumulative perpetual issued; zero shares of series A and zero shares of series B convertible | – | – | – | – | – | |||||||||||
| Common stock, $1 par value; 75,000,000 authorized shares; 1,398,070 and 1,385,842 issued shares; 1,319,901 and 1,335,390 outstanding shares at March 31, 2026 and December 31, 2025, respectively (1) | 1,398 | 1,386 | 1,386 | 1,386 | 1,383 | |||||||||||
| Capital surplus | 182,175 | 182,087 | 182,003 | 181,908 | 181,801 | |||||||||||
| Accumulated deficit | (97,321 | ) | (97,907 | ) | (97,591 | ) | (98,498 | ) | (99,167 | ) | ||||||
| Accumulated other comprehensive income (loss), net | (2,765 | ) | (2,371 | ) | (2,808 | ) | (3,273 | ) | (3,939 | ) | ||||||
| Treasury stock, 78,891 shares on March 31, 2026 and 51,174 shares December 31, 2025 (2) | (2,840 | ) | (1,781 | ) | (1,201 | ) | (1,031 | ) | (769 | ) | ||||||
| Total stockholders' equity | 80,647 | 81,414 | 81,789 | 80,492 | 79,309 | |||||||||||
| Total liabilities and stockholders' equity | $ | 832,790 | $ | 833,304 | $ | 836,760 | $ | 838,441 | $ | 852,018 | ||||||
| (1) Both issued and outstanding shares as stated here exclude 44,820 shares and 43,054 shares of unvested restricted stock awards at March 31, 2026 and December 31, 2025, respectively. | ||||||||||||||||
| (2) Treasury stock includes 722 shares held by subsidiary bank CIBM Bank. | ||||||||||||||||
| CIB MARINE BANCSHARES, INC. | |||||||||||||||||||||||
| Consolidated Statements of Operations (Unaudited) | |||||||||||||||||||||||
| At or for the | |||||||||||||||||||||||
| Quarters Ended | 3 Months Ended | ||||||||||||||||||||||
| March 31, | December 31, | September 30, | June 30, | March 31, | March 31, | March 31, | |||||||||||||||||
| 2026 | 2025 | 2025 | 2025 | 2025 | 2026 | 2025 | |||||||||||||||||
| (Dollars in thousands) | |||||||||||||||||||||||
| Interest Income | |||||||||||||||||||||||
| Loans | $ | 9,323 | $ | 9,480 | $ | 9,347 | $ | 9,653 | $ | 9,623 | $ | 9,323 | $ | 9,623 | |||||||||
| Loans held for sale | 87 | 168 | 123 | 149 | 137 | 87 | 137 | ||||||||||||||||
| Securities | 1,152 | 1,200 | 1,229 | 1,186 | 1,150 | 1,152 | 1,150 | ||||||||||||||||
| Other investments | 24 | 33 | 81 | 29 | 31 | 24 | 31 | ||||||||||||||||
| Total interest income | 10,586 | 10,881 | 10,780 | 11,017 | 10,941 | 10,586 | 10,941 | ||||||||||||||||
| Interest Expense | |||||||||||||||||||||||
| Deposits | 4,185 | 4,660 | 4,772 | 4,795 | 5,029 | 4,185 | 5,029 | ||||||||||||||||
| Short-term borrowings | 456 | 427 | 302 | 625 | 504 | 456 | 504 | ||||||||||||||||
| Long-term borrowings | 119 | 121 | 122 | 121 | 119 | 119 | 119 | ||||||||||||||||
| Total interest expense | 4,760 | 5,208 | 5,196 | 5,541 | 5,652 | 4,760 | 5,652 | ||||||||||||||||
| Net interest income | 5,826 | 5,673 | 5,584 | 5,476 | 5,289 | 5,826 | 5,289 | ||||||||||||||||
| Provision for (reversal of) credit losses | 268 | 1,174 | (90 | ) | 9 | 42 | 268 | 42 | |||||||||||||||
| Net interest income after provision for (reversal of) credit losses | 5,558 | 4,499 | 5,674 | 5,467 | 5,247 | 5,558 | 5,247 | ||||||||||||||||
| Noninterest Income | |||||||||||||||||||||||
| Deposit service charges | 43 | 62 | 62 | 65 | 59 | 43 | 59 | ||||||||||||||||
| Other service fees | (10 | ) | (10 | ) | (7 | ) | (10 | ) | (9 | ) | (10 | ) | (9 | ) | |||||||||
| Mortgage banking revenue, net | 820 | 1,021 | 1,483 | 1,424 | 1,140 | 820 | 1,140 | ||||||||||||||||
| Other income | 173 | 178 | 239 | 279 | 177 | 173 | 177 | ||||||||||||||||
| Net gain (loss) on sale of securities available for sale | 0 | (10 | ) | 0 | 0 | 0 | 0 | 0 | |||||||||||||||
| Unrealized gain (loss) recognized on equity securities | (16 | ) | 11 | 21 | 7 | 36 | (16 | ) | 36 | ||||||||||||||
| Net gain on sale of SBA loans | 168 | 40 | 110 | 0 | 161 | 168 | 161 | ||||||||||||||||
| Net gain on sale of assets and (writedowns) | 0 | 0 | 0 | 0 | (12 | ) | 0 | (12 | ) | ||||||||||||||
| Total noninterest income | 1,178 | 1,292 | 1,908 | 1,765 | 1,552 | 1,178 | 1,552 | ||||||||||||||||
| Noninterest Expense | |||||||||||||||||||||||
| Compensation and employee benefits | 3,726 | 3,833 | 4,047 | 4,060 | 4,066 | 3,726 | 4,066 | ||||||||||||||||
| Equipment | 521 | 589 | 577 | 583 | 559 | 521 | 559 | ||||||||||||||||
| Occupancy and premises | 571 | 537 | 514 | 519 | 549 | 571 | 549 | ||||||||||||||||
| Data Processing | 218 | 215 | 243 | 212 | 221 | 218 | 221 | ||||||||||||||||
| Federal deposit insurance | 134 | 119 | 138 | 101 | 129 | 134 | 129 | ||||||||||||||||
| Professional services | 178 | 169 | 205 | 218 | 278 | 178 | 278 | ||||||||||||||||
| Telephone and data communication | 65 | 73 | 65 | 57 | 52 | 65 | 52 | ||||||||||||||||
| Insurance | 94 | 71 | 92 | 75 | 64 | 94 | 64 | ||||||||||||||||
| Other expense | 462 | 617 | 494 | 486 | 455 | 462 | 455 | ||||||||||||||||
| Total noninterest expense | 5,969 | 6,223 | 6,375 | 6,311 | 6,373 | 5,969 | 6,373 | ||||||||||||||||
| Income (loss) from operations before income taxes | 767 | (432 | ) | 1,207 | 921 | 426 | 767 | 426 | |||||||||||||||
| Income tax expense (benefit) | 181 | (115 | ) | 299 | 253 | 105 | 181 | 105 | |||||||||||||||
| Net income (loss) | 586 | (317 | ) | 908 | 668 | 321 | 586 | 321 | |||||||||||||||
| Net income (loss) allocated to common stockholders | $ | 586 | $ | (317 | ) | $ | 908 | $ | 668 | $ | 321 | $ | 586 | $ | 321 | ||||||||
FOR INFORMATION CONTACT:
J. Brian Chaffin, President & CEO
(217) 355-0900
brian.chaffin@cibmbank.com
