https://www.otcmarkets.com/otcapi/company/dns/news/document/78336/content
Brookfield, WI, November 8, 2024 – FFBW, Inc. (OTCQX: FFBW) (the “Company”), the parent company of First Federal Bank of Wisconsin (the “Bank”), a federally chartered stock savings bank offering full-service commercial banking and consumer banking, today announced unaudited financial results for the three months ended September 30, 2024. For the three months ended September 30, 2024, net income was $713,000, or $0.16 per diluted share, compared to $423,000, or $0.09 per diluted share, for the three months ended September 30, 2023, a 68.6% increase quarter to quarter. For the three months ending September 30, 2024, the dilutive weighted average shares outstanding,
which excludes unallocated employee stock ownership plan shares, were 4,452,000 compared to 4,565,000 for the three months ended September 30, 2023.Share Repurchase Program
On December 18, 2023, the Company announced the adoption of a new repurchase program of up to an additional 400,000 shares of its common stock. As of November 7, 2024, 147,000 shares have been purchased since the new program was announced, reducing the number of shares outstanding to 4,883,000.
Financial Highlights at September 30, 2024
- At September 30, 2024, the Company had 4,883,000 shares outstanding, resulting in a tangible book value per share of $15.51.
- At September 30, 2024, the Bank’s leverage ratio was 22.1%.