Crazy Woman Creek Bancorp Shows Strong Performance in 2024
Strong Financial Outcomes by Crazy Woman Creek Bancorp
Crazy Woman Creek Bancorp (OTC: CRZY), alongside its affiliate Buffalo Federal Bank, has been consistent in providing quality banking services since its inception in 1936. The bank is dedicated to its role as a vital community partner, serving the needs of local residents and businesses in North-Central Wyoming.
Annual Cash Dividend Declaration
As part of its commitment to enhancing shareholder value, Crazy Woman Creek Bancorp announced an annual cash dividend of $0.32 per share, expected to be distributed in early 2025. This move reflects the bank's strong financial performance and its ongoing dedication to its investors.
Yearly Financial Performance Overview
For the fiscal year, which concluded on September 30, 2024, Crazy Woman Creek Bancorp reported a remarkable net income of $1,628,469. This achievement correlates with an impressive annualized return on equity (ROE) of 12.03% and an annualized return on assets (ROA) of 0.87%. This performance marks one of the best years in the institution’s long history.
Challenges in the Financial Sector
The financial landscape has not been without its challenges. With the Federal Open Market Committee (FOMC) target rates rising from near-zero levels to 5.50% in recent periods, community banks, including Crazy Woman Creek Bancorp, have faced significant margin compression. Nevertheless, the bank's efficient management of funding costs and competitive loan yields has allowed it to maintain a robust net interest margin of 3.80%, surpassing the state average.
Asset Quality and Loan Management
The bank’s commitment to maintaining high asset quality is evident in its nonperforming assets, which were recorded at just 0.72% as of September 30, 2024. Additionally, their loan loss reserves, standing at 1.86%, show a strong buffer against potential risks, considerably higher than the Wyoming average. This indicates the bank's proactive approach in managing its loan portfolio.
Management's Vision for the Future
The dedicated management team at Crazy Woman Creek Bancorp is determined to continue delivering superior financial services while enhancing operational efficiencies. Their focus remains on conservative lending practices, aiming to build sustainable long-term value for all stakeholders. The visible results of their efforts can be attributed to high service standards and professional conduct.
Upcoming Annual Meeting
For shareholders and community members, the annual meeting is an opportunity to gain insights into the bank's future direction. It's scheduled for January 29, 2025, at 3:00 p.m. MDT, to take place at the bank's corporate office in Buffalo.
Contact Information
For further inquiries, please reach out to:
Paul Brunkhorst
C.E.O.
PO Box 1020 • 106 Fort Street
Buffalo, WY 82834
P: 307-684-5591
Frequently Asked Questions
What is the current dividend per share declared by Crazy Woman Creek Bancorp?
The bank has declared an annual cash dividend of $0.32 per share.
How did Crazy Woman Creek Bancorp perform financially in 2024?
In the fiscal year 2024, the bank posted a net income of $1,628,469, indicating strong financial health.
What is the loan loss reserve percentage as of September 30, 2024?
The loan loss reserve is 1.86%, which is higher than the Wyoming average.
When is the annual meeting for Crazy Woman Creek Bancorp?
The annual meeting is set for January 29, 2025, at 3:00 p.m. MDT.
How does Crazy Woman Creek Bancorp's net interest margin compare to Wyoming's average?
Crazy Woman Creek Bancorp has a net interest margin of 3.80%, which is above the Wyoming average of 3.41%.
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