Iowa First Bancshs (IOFB) 32.0000 $IOFB
Iowa First Bancshares Corp. Reports First Quarter Financial Results and Dividend Payment
Business Wire - Wed Apr 23, 11:00AM CDT
Iowa First Bancshares Corp. (OTCQB: IOFB) today reported operating results for the three month period ended March 31, 2014. Consolidated net income totaled $1,016,000 compared to net income of $650,000 for the same period last year. The increase in first quarter net income year-over-year of $366,000 or 56.3% was primarily attributable to: 1) higher net interest income in the current year, and 2) a non-recurring transaction last year, the early redemption of company obligated mandatorily redeemable preferred securities ("trust preferred securities"
. More specifically, net interest income increased $303,000 or 9.9% during the quarter ended March 31, 2014, compared with the quarter ended March 31, 2013. Furthermore, the $285,000 loss associated with the early redemption of trust preferred securities during the first quarter of 2013 was a one-time event and, therefore, had no additional negative financial consequences in 2014.
Iowa First Bancshares Corp. Reports 2013 Financial Results
Business Wire - Thu Jan 30, 11:00AM CST
Iowa First Bancshares Corp. (OTCQB:IOFB) today reported net income for the year ended December 31, 2013 exceeded budget, but fell short of the record-breaking earnings of the prior year. Net income for the twelve months ended December 31, 2013 totaled $3,480,000 compared with net income of $4,106,000 for 2012, a decrease of $626,000 or 15.3%. Prior to 2013, the Company had enjoyed four consecutive years of rising net income. Earnings per share of $3.09 in 2013 compared to the prior year's record high of $3.66. The decline in earnings for 2013 versus 2012 was largely anticipated as discussed below.
Iowa First Bancshares reports reduced net income for Q2 2013 over 2012 and dividend payment of USD0.285 per share
M2 - Mon Jul 22, 3:35AM CDT
Iowa First Bancshares Corp (OTCQB:IOFB), a bank holding company, on Friday reported for the second quarter ended 30 June 2013 a net income of USD902,000 or USD0.80 basic and diluted earnings per share, 20.8% less than the record-setting net income of USD1.1m or USD1.01 basic and diluted earnings per share for the quarter ended 30 June 2012.
Iowa First Bancshares Corp. Reports Second Quarter Financial Results and Dividend Payment
Business Wire - Fri Jul 19, 11:00AM CDT
Iowa First Bancshares Corp. (OTCQB: IOFB) today reported net income of $902,000 for the quarter ended June 30, 2013, compared to the record-setting net income of $1,134,000 for the quarter ended June 30, 2012. The decrease in second quarter net income year-over-year of $232,000 or 20.5% was heavily influenced by (1) continued relatively low market interest rates, despite an upward spike in rates near the end of the quarter, (2) high levels of liquidity resulting from deposit growth, and (3) intense competitive pressure which served to limit rates available on loans. These and other factors resulted in net interest income decreasing $227,000 or 6.7% during the second quarter of 2013 compared to the second quarter of 2012. No provision for loan losses was necessary in the second quarter of 2013. During the second quarter of 2012 a $180,000 reversal of provision expense was recognized. Noninterest income for the second quarter of 2013 was $58,000 or 6.0% less than the second quarter of 2012 primarily due to reductions in service charges on deposit accounts and income from mortgage loan origination and net loan servicing fees. Partially offsetting the aforementioned reductions in net income, noninterest expense declined by $118,000 or 4.2% and income tax expense decreased $115,000 or 19.9%.
Iowa First Bancshares Corp. Achieves National Recognition
Business Wire - Mon May 06, 11:00AM CDT
Iowa First Bancshares Corp. (OTCQB: IOFB), the parent company of First National Bank of Muscatine, Iowa, and First National Bank in Fairfield, Iowa, has again been recognized for superior financial performance. In the May 2013 edition of American Banker Magazine's ranking of the top 200 community banks and thrifts, Iowa First Bancshares Corp. was recognized for its outstanding three-year average return on equity. Employing this important financial benchmark Iowa First not only made the top 200 list, but was ranked number sixty-eight among all U.S. community banking and thrift organizations with less than two billion dollars in assets. Iowa First Bancshares Corp. has been the only Iowa based banking organization included in this prestigious ranking for each of the last five years. Kim Bartling, Executive Vice President, Chief Operating Officer & Treasurer of Iowa First, commented, "Our team of dedicated bankers are hon
Iowa First Bancshares Corp. Reports First Quarter Financial Results and Dividend Payment
Business Wire - Wed Apr 23, 11:00AM CDT
Iowa First Bancshares Corp. (OTCQB: IOFB) today reported operating results for the three month period ended March 31, 2014. Consolidated net income totaled $1,016,000 compared to net income of $650,000 for the same period last year. The increase in first quarter net income year-over-year of $366,000 or 56.3% was primarily attributable to: 1) higher net interest income in the current year, and 2) a non-recurring transaction last year, the early redemption of company obligated mandatorily redeemable preferred securities ("trust preferred securities"
. More specifically, net interest income increased $303,000 or 9.9% during the quarter ended March 31, 2014, compared with the quarter ended March 31, 2013. Furthermore, the $285,000 loss associated with the early redemption of trust preferred securities during the first quarter of 2013 was a one-time event and, therefore, had no additional negative financial consequences in 2014. Iowa First Bancshares Corp. Reports 2013 Financial Results
Business Wire - Thu Jan 30, 11:00AM CST
Iowa First Bancshares Corp. (OTCQB:IOFB) today reported net income for the year ended December 31, 2013 exceeded budget, but fell short of the record-breaking earnings of the prior year. Net income for the twelve months ended December 31, 2013 totaled $3,480,000 compared with net income of $4,106,000 for 2012, a decrease of $626,000 or 15.3%. Prior to 2013, the Company had enjoyed four consecutive years of rising net income. Earnings per share of $3.09 in 2013 compared to the prior year's record high of $3.66. The decline in earnings for 2013 versus 2012 was largely anticipated as discussed below.
Iowa First Bancshares reports reduced net income for Q2 2013 over 2012 and dividend payment of USD0.285 per share
M2 - Mon Jul 22, 3:35AM CDT
Iowa First Bancshares Corp (OTCQB:IOFB), a bank holding company, on Friday reported for the second quarter ended 30 June 2013 a net income of USD902,000 or USD0.80 basic and diluted earnings per share, 20.8% less than the record-setting net income of USD1.1m or USD1.01 basic and diluted earnings per share for the quarter ended 30 June 2012.
Iowa First Bancshares Corp. Reports Second Quarter Financial Results and Dividend Payment
Business Wire - Fri Jul 19, 11:00AM CDT
Iowa First Bancshares Corp. (OTCQB: IOFB) today reported net income of $902,000 for the quarter ended June 30, 2013, compared to the record-setting net income of $1,134,000 for the quarter ended June 30, 2012. The decrease in second quarter net income year-over-year of $232,000 or 20.5% was heavily influenced by (1) continued relatively low market interest rates, despite an upward spike in rates near the end of the quarter, (2) high levels of liquidity resulting from deposit growth, and (3) intense competitive pressure which served to limit rates available on loans. These and other factors resulted in net interest income decreasing $227,000 or 6.7% during the second quarter of 2013 compared to the second quarter of 2012. No provision for loan losses was necessary in the second quarter of 2013. During the second quarter of 2012 a $180,000 reversal of provision expense was recognized. Noninterest income for the second quarter of 2013 was $58,000 or 6.0% less than the second quarter of 2012 primarily due to reductions in service charges on deposit accounts and income from mortgage loan origination and net loan servicing fees. Partially offsetting the aforementioned reductions in net income, noninterest expense declined by $118,000 or 4.2% and income tax expense decreased $115,000 or 19.9%.
Iowa First Bancshares Corp. Achieves National Recognition
Business Wire - Mon May 06, 11:00AM CDT
Iowa First Bancshares Corp. (OTCQB: IOFB), the parent company of First National Bank of Muscatine, Iowa, and First National Bank in Fairfield, Iowa, has again been recognized for superior financial performance. In the May 2013 edition of American Banker Magazine's ranking of the top 200 community banks and thrifts, Iowa First Bancshares Corp. was recognized for its outstanding three-year average return on equity. Employing this important financial benchmark Iowa First not only made the top 200 list, but was ranked number sixty-eight among all U.S. community banking and thrift organizations with less than two billion dollars in assets. Iowa First Bancshares Corp. has been the only Iowa based banking organization included in this prestigious ranking for each of the last five years. Kim Bartling, Executive Vice President, Chief Operating Officer & Treasurer of Iowa First, commented, "Our team of dedicated bankers are hon
