CIB Marine Bancshares, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 13, 2023 at 05:00 pm EDT
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CIB Marine Bancshares, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net interest income was USD 4.94 million compared to USD 6.41 million a year ago. Net income was USD 0.379 million compared to USD 1.03 million a year ago. Basic earnings per share from continuing operations was USD 0.28 compared to USD 0.78 a year ago. Diluted earnings per share from continuing operations was USD 0.21 compared to USD 0.57 a year ago.
For the nine months, net interest income was USD 16.32 million compared to USD 17.77 million a year ago. Net income was USD 1.77 million compared to USD 2.82 million a year ago. Basic earnings per share from continuing operations was USD 1.34 compared to USD 2.16 a year ago. Diluted earnings per share from continuing operations was USD 0.98 compared to USD 1.57 a year ago.
CIB Marine Bancshares, Inc. (CIB Marine) is a bank holding company, which provides a full range of banking and related services through its banking subsidiary, CIBM Bank (the Bank). Its segments include mortgage, banking and corporate. The Bank offers a full array of traditional banking services, including a range of loan products, such as commercial loans, commercial real estate loans, commercial and residential construction loans, government guaranteed loans, one-to-four family residential real estate loans, home equity loans, consumer loans, and commercial and standby letters of credit; consumer and commercial deposit accounts, including savings, checking, and time deposits; trust services; cash management; repurchase agreements, and other traditional community banking services. The Bank operates approximately 10 banking offices and eight mortgage loan offices in Illinois, Wisconsin and Indiana.