FFBW announced earnings results for the third quarter on 11-3-22, a brief summary is as follows:
Results for the third quarter ended 9-30-22:
Qtr net income was $510,000, up from $459,000 in the 2021 quarter;
Qtr EPS was $0.10, up from $0.07 in the 2021 quarter;
Nine-month net income was $1.7 million, up from $1.6 million in the 2021 period;
Nine-month EPS was $0.30, up from $0.24 in the 2021 period;
TTM EPS was $0.37, up from $0.31 for the 2021 period;
Annualized return on equity was 2.60%, compared to 2.75% in 2021;
Tangible book value at 9-30-22 was $13.87;
Nonperforming assets were 0.05% of total assets, down from 0.08% of assets at 12-31-21;
They repurchased 440,109 shares in the 2022 third quarter at an average price of $12.43 per share;
They repurchased 265,769 shares in the 2022 second quarter at an average price of $12.32 per share;
They repurchased 480,769 shares in the 2022 first quarter at an average price of $12.24 per share;
They have 319,000 shares remaining on the current repurchase authorization;
They do not currently pay a dividend.
The share price closed at $11.72 on 11-3-22, representing 84.5% of tangible book and the P/E was 31.68.
At 9-30-22 FFBW reported regulatory capital in excess of the most stringent well-capitalized requirement of over $46.5 million. FFBW completed the second step conversion in January 2020, so now coming up on just two months until the three-year anniversary date.
TH (long FFBW)