Iowa First Bancshs (IOFB) 34.0000 $IOFB
Iowa First Bancshares Corp. Reports Second Quarter Financial Results and Dividend Payment
BusinessWire - Mon Jul 25, 11:00AM CDT
Iowa First Bancshares Corp. (OTC Pink: IOFB) today reported net income of $1,081,000 for the quarter ended June 30, 2016, compared to net income of $1,050,000 for the quarter ended June 30, 2015. The increase in second quarter net income year-over-year of $31,000 (3.0%) was primarily attributable to higher net interest income of $132,000 (3.7%). This increase in net interest income was augmented by a $32,000 (3.7%) increase in noninterest income. Noninterest expense increased $68,000 (2.4%) and provision for loan losses was raised $75,000 or (250%). This large percentage increase in the provision is the result of three primary factors: 1) comparison of this year's number to a relatively small provision for loan losses recognized in the prior year; 2) an increase in loans outstanding of $20,820,000 (5.7%) from June 30, 2015 to June 30, 2016; and 3) a year-over-year increase of 94.2% in nonperforming assets, which totaled $3,342,000 at June 30, 2016. While higher than in the recent past, the nonperforming assets represent a very manageable .87% of gross loans outstanding. Income tax expense declined $10,000 or 1.8% when comparing the second quarter of 2016 to the same quarter in 2015.
Iowa First Bancshares Corp. Reports Fourth Quarter and Year-To-Date 2015 Financial Results and Dividend Payment
BusinessWire - Fri Jan 29, 11:00AM CST
Iowa First Bancshares Corp. (OTC Pink: IOFB) today reported financial results for both the fourth quarter and full year of 2015. Net income of $1,000,000 for the quarter ended December 31, 2015, compared to net income of $1,023,000 for the quarter ended December 31, 2014, a modest decrease of $23,000 or 2.3%. The decrease in fourth quarter net income year-over-year of $23,000 was primarily attributable to higher provision for loan losses which rose $100,000 and noninterest expense which grew $89,000. These higher expenses exceeded the increase in net interest income of $63,000, increase in noninterest income of $45,000, and reduction in income tax expense of $58,000.
Iowa First Bancshares Corp. Reports Third Quarter and Year-To-Date 2015 Financial Results and Dividend Payment
BusinessWire - Wed Oct 21, 11:00AM CDT
Iowa First Bancshares Corp. (OTC Pink: IOFB) today reported financial results for both the third quarter and first three quarters of 2015. Net income of $1,090,000 for the quarter ended September 30, 2015, compared to net income of $1,161,000 for the quarter ended September 30, 2014, a decrease of $71,000 or 6.1%. The decrease in third quarter net income year-over-year of $71,000 was primarily attributable to higher noninterest expenses, which rose $203,000 or 7.7%. Noninterest income for the third quarter of 2015 was $28,000 or 3.1% less than the third quarter of 2014. Provision for loan losses expense was $30,000 in the third quarter of both 2015 and 2014. Net interest income in the third quarter of 2015 exceeded the same quarter of 2014 by $126,000 or 3.6%. Due largely to lower pretax income, income tax expense decreased $34,000 or 5.6%.
Iowa First Bancshares Corp. Achieves National Recognition
BusinessWire - Fri May 08, 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 yet again been recognized for outstanding financial performance. The May 2015 edition of American Banker Magazine included a ranking of the top 200 community banks and thrifts, based upon three-year average return on equity, with less than $2 billion of assets. Iowa First Bancshares Corp. was included in this prestigious list for the seventh consecutive year. Moreover, Iowa First Bancshares Corp. has been not only in the top 200 community banks and thrifts each of the previous seven years, but in the top 100 for six of the last seven years.
Iowa First Bancshares Corp. Reports First Quarter Financial Results and Dividend Payment
BusinessWire - Thu Apr 23, 11:00AM CDT
Iowa First Bancshares Corp. (OTCQB: IOFB) today reported operating results for the three month period ended March 31, 2015. Consolidated net income totaled $985,000 compared to net income of $1,016,000 for the same period last year, a relatively small decrease of $31,000 or 3.1%. Comparing first quarter 2015 and first quarter 2014 results: net interest income increased $131,000 or 3.9%; provision for loan losses increased to $30,000 from no such provision the prior year; noninterest income declined $64,000 or 7.5% as 2014 included a $90,000 non-recurring income item; noninterest expense increased $82,000 or 3.1%; and income tax expense decreased by $14,000 or 2.6%.
Iowa First Bancshares Corp. Reports Record 2014 Financial Results
BusinessWire - Wed Jan 28, 11:00AM CST
Iowa First Bancshares Corp. (OTCQB: IOFB) today reported record-setting financial results for the year ended December 31, 2014. Net income for the twelve months ended December 31, 2014 totaled $4,256,000 compared with net income of $3,480,000 for 2013, an increase of $776,000 or 22.3%. This set the all-time record for highest annual net income earned by Iowa First. Additionally, earnings per share of $3.78 also reached a new record high in 2014. This was an increase of $.69 per share over the $3.09 earned in 2013, also a 22.3% improvement.
Iowa First Bancshares Corp. Reports Second Quarter Financial Results and Dividend Payment
BusinessWire - Mon Jul 25, 11:00AM CDT
Iowa First Bancshares Corp. (OTC Pink: IOFB) today reported net income of $1,081,000 for the quarter ended June 30, 2016, compared to net income of $1,050,000 for the quarter ended June 30, 2015. The increase in second quarter net income year-over-year of $31,000 (3.0%) was primarily attributable to higher net interest income of $132,000 (3.7%). This increase in net interest income was augmented by a $32,000 (3.7%) increase in noninterest income. Noninterest expense increased $68,000 (2.4%) and provision for loan losses was raised $75,000 or (250%). This large percentage increase in the provision is the result of three primary factors: 1) comparison of this year's number to a relatively small provision for loan losses recognized in the prior year; 2) an increase in loans outstanding of $20,820,000 (5.7%) from June 30, 2015 to June 30, 2016; and 3) a year-over-year increase of 94.2% in nonperforming assets, which totaled $3,342,000 at June 30, 2016. While higher than in the recent past, the nonperforming assets represent a very manageable .87% of gross loans outstanding. Income tax expense declined $10,000 or 1.8% when comparing the second quarter of 2016 to the same quarter in 2015.
Iowa First Bancshares Corp. Reports Fourth Quarter and Year-To-Date 2015 Financial Results and Dividend Payment
BusinessWire - Fri Jan 29, 11:00AM CST
Iowa First Bancshares Corp. (OTC Pink: IOFB) today reported financial results for both the fourth quarter and full year of 2015. Net income of $1,000,000 for the quarter ended December 31, 2015, compared to net income of $1,023,000 for the quarter ended December 31, 2014, a modest decrease of $23,000 or 2.3%. The decrease in fourth quarter net income year-over-year of $23,000 was primarily attributable to higher provision for loan losses which rose $100,000 and noninterest expense which grew $89,000. These higher expenses exceeded the increase in net interest income of $63,000, increase in noninterest income of $45,000, and reduction in income tax expense of $58,000.
Iowa First Bancshares Corp. Reports Third Quarter and Year-To-Date 2015 Financial Results and Dividend Payment
BusinessWire - Wed Oct 21, 11:00AM CDT
Iowa First Bancshares Corp. (OTC Pink: IOFB) today reported financial results for both the third quarter and first three quarters of 2015. Net income of $1,090,000 for the quarter ended September 30, 2015, compared to net income of $1,161,000 for the quarter ended September 30, 2014, a decrease of $71,000 or 6.1%. The decrease in third quarter net income year-over-year of $71,000 was primarily attributable to higher noninterest expenses, which rose $203,000 or 7.7%. Noninterest income for the third quarter of 2015 was $28,000 or 3.1% less than the third quarter of 2014. Provision for loan losses expense was $30,000 in the third quarter of both 2015 and 2014. Net interest income in the third quarter of 2015 exceeded the same quarter of 2014 by $126,000 or 3.6%. Due largely to lower pretax income, income tax expense decreased $34,000 or 5.6%.
Iowa First Bancshares Corp. Achieves National Recognition
BusinessWire - Fri May 08, 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 yet again been recognized for outstanding financial performance. The May 2015 edition of American Banker Magazine included a ranking of the top 200 community banks and thrifts, based upon three-year average return on equity, with less than $2 billion of assets. Iowa First Bancshares Corp. was included in this prestigious list for the seventh consecutive year. Moreover, Iowa First Bancshares Corp. has been not only in the top 200 community banks and thrifts each of the previous seven years, but in the top 100 for six of the last seven years.
Iowa First Bancshares Corp. Reports First Quarter Financial Results and Dividend Payment
BusinessWire - Thu Apr 23, 11:00AM CDT
Iowa First Bancshares Corp. (OTCQB: IOFB) today reported operating results for the three month period ended March 31, 2015. Consolidated net income totaled $985,000 compared to net income of $1,016,000 for the same period last year, a relatively small decrease of $31,000 or 3.1%. Comparing first quarter 2015 and first quarter 2014 results: net interest income increased $131,000 or 3.9%; provision for loan losses increased to $30,000 from no such provision the prior year; noninterest income declined $64,000 or 7.5% as 2014 included a $90,000 non-recurring income item; noninterest expense increased $82,000 or 3.1%; and income tax expense decreased by $14,000 or 2.6%.
Iowa First Bancshares Corp. Reports Record 2014 Financial Results
BusinessWire - Wed Jan 28, 11:00AM CST
Iowa First Bancshares Corp. (OTCQB: IOFB) today reported record-setting financial results for the year ended December 31, 2014. Net income for the twelve months ended December 31, 2014 totaled $4,256,000 compared with net income of $3,480,000 for 2013, an increase of $776,000 or 22.3%. This set the all-time record for highest annual net income earned by Iowa First. Additionally, earnings per share of $3.78 also reached a new record high in 2014. This was an increase of $.69 per share over the $3.09 earned in 2013, also a 22.3% improvement.
