Grandsouth Bancorp (GRRB) 13.7500 $GRRB
GrandSouth Bancorporation Announces First Quarter Results
PR Newswire - Thu Apr 21, 7:56AM CDT
GrandSouth Bancorporation (OTCQB: GRRB), the holding company for GrandSouth Bank, reported net income for the first quarter ended March 31, 2016. Net income for the first quarter of 2016 totaled $1.51 million compared to $1.79 million for the same period in 2015. Following the amortization (accretion) and payment of preferred stock dividends, net income available to common shareholders for the quarter ended March 31, 2016 amounted to $1.45 million or $.34 per common share, diluted compared to $1.75 million or $.51 per common share, diluted for the same period of 2015. Net interest income for the three month period ended March 31, 2016 was 14.7% higher than the same period in 2015. However, non-interest expenses, including provisions made to the reserve for loan losses, grew 43% offsetting the higher revenues and resulting in lower net earnings for the period when compared with the year earlier quarter. The annualized return on average assets for the first quarter of 2016 equaled 1.37%. The annualized return on average common equity at March 31, 2016 equaled 12.7%. Loans declined by 4%, or $14 million to $355 million from $369 million at December 31, 2015. Deposits grew significantly during the first quarter to $374 million or 6% over the balance at year end of $351 million.
GrandSouth Bancorporation Announces Third Quarter 2015 Earnings
PR Newswire - Thu Oct 15, 3:45PM CDT
GrandSouth Bancorporation (OTC: GRRB), parent company for GrandSouth Bank (GrandSouth), announced earnings of $1.36 million or $.37 per common share, diluted, for the quarter ended September 30, 2015 - an increase of 28% from earnings for the third quarter ended September 30, 2014 of $1.06 million or $.30 per common share, diluted. Net income for the nine months ended September 30, 2015 equaled $4.81 million or $1.34 per common share, diluted - an increase of 52% from earnings for the nine month period ended September 30, 2014 of $3.16 million or $.91 per common share, diluted. Annualized returns on average assets and average equity for the quarter ended September 30, 2015 were 1.32% and 12.6%, respectively, compared with the quarter ended September 30, 2014 annualized returns on average assets and average equity of 1.07% and 9.20%, respectively. Annualized returns on average assets and average equity for the nine months ended September 30, 2015 were 1.60% and 15.0%, respectively, compared with the nine months ended September 30, 2014 annualized returns on average assets and average equity of 1.06% and 9.30%, respectively.
GrandSouth Announces Second Quarter 2015 Earnings
PR Newswire - Fri Jul 24, 9:59AM CDT
GrandSouth Bancorporation (OTC: GRRB), parent company for GrandSouth Bank (GrandSouth), announced earnings of $1.66 million or $.46 per common share, diluted, for the quarter ended June 30, 2015 - an increase of 61% from earnings for the second quarter ended June 30, 2014 of $1.03 million or $.30 per common share, diluted. Net income for the six months ended June 30, 2105 equaled $3.45 million or $.97 per common share, diluted - an increase of 65% from earnings for the six month period ended June 30, 2014 of $2.10 million or $.60 per common share, diluted. Annualized returns on average assets and annualized return on average common equity for the quarter ended June 30, 2015 were 1.67% and 19.1%, respectively, compared with the quarter ended June 30, 2014 returns on average assets and average equity of 1.04% and 13.7%, respectively. Returns on average assets and average equity for the six months ended June 30, 2015 were 1.75% and 20.3%, respectively, compared with the six months ended June 30, 2014 returns on average assets and average equity of 1.06% and 14.2%, respectively.
GrandSouth Bancorporation Announces First Quarter Results
PR Newswire - Thu Apr 21, 7:56AM CDT
GrandSouth Bancorporation (OTCQB: GRRB), the holding company for GrandSouth Bank, reported net income for the first quarter ended March 31, 2016. Net income for the first quarter of 2016 totaled $1.51 million compared to $1.79 million for the same period in 2015. Following the amortization (accretion) and payment of preferred stock dividends, net income available to common shareholders for the quarter ended March 31, 2016 amounted to $1.45 million or $.34 per common share, diluted compared to $1.75 million or $.51 per common share, diluted for the same period of 2015. Net interest income for the three month period ended March 31, 2016 was 14.7% higher than the same period in 2015. However, non-interest expenses, including provisions made to the reserve for loan losses, grew 43% offsetting the higher revenues and resulting in lower net earnings for the period when compared with the year earlier quarter. The annualized return on average assets for the first quarter of 2016 equaled 1.37%. The annualized return on average common equity at March 31, 2016 equaled 12.7%. Loans declined by 4%, or $14 million to $355 million from $369 million at December 31, 2015. Deposits grew significantly during the first quarter to $374 million or 6% over the balance at year end of $351 million.
GrandSouth Bancorporation Announces Third Quarter 2015 Earnings
PR Newswire - Thu Oct 15, 3:45PM CDT
GrandSouth Bancorporation (OTC: GRRB), parent company for GrandSouth Bank (GrandSouth), announced earnings of $1.36 million or $.37 per common share, diluted, for the quarter ended September 30, 2015 - an increase of 28% from earnings for the third quarter ended September 30, 2014 of $1.06 million or $.30 per common share, diluted. Net income for the nine months ended September 30, 2015 equaled $4.81 million or $1.34 per common share, diluted - an increase of 52% from earnings for the nine month period ended September 30, 2014 of $3.16 million or $.91 per common share, diluted. Annualized returns on average assets and average equity for the quarter ended September 30, 2015 were 1.32% and 12.6%, respectively, compared with the quarter ended September 30, 2014 annualized returns on average assets and average equity of 1.07% and 9.20%, respectively. Annualized returns on average assets and average equity for the nine months ended September 30, 2015 were 1.60% and 15.0%, respectively, compared with the nine months ended September 30, 2014 annualized returns on average assets and average equity of 1.06% and 9.30%, respectively.
GrandSouth Announces Second Quarter 2015 Earnings
PR Newswire - Fri Jul 24, 9:59AM CDT
GrandSouth Bancorporation (OTC: GRRB), parent company for GrandSouth Bank (GrandSouth), announced earnings of $1.66 million or $.46 per common share, diluted, for the quarter ended June 30, 2015 - an increase of 61% from earnings for the second quarter ended June 30, 2014 of $1.03 million or $.30 per common share, diluted. Net income for the six months ended June 30, 2105 equaled $3.45 million or $.97 per common share, diluted - an increase of 65% from earnings for the six month period ended June 30, 2014 of $2.10 million or $.60 per common share, diluted. Annualized returns on average assets and annualized return on average common equity for the quarter ended June 30, 2015 were 1.67% and 19.1%, respectively, compared with the quarter ended June 30, 2014 returns on average assets and average equity of 1.04% and 13.7%, respectively. Returns on average assets and average equity for the six months ended June 30, 2015 were 1.75% and 20.3%, respectively, compared with the six months ended June 30, 2014 returns on average assets and average equity of 1.06% and 14.2%, respectively.
