Cortland Bancorp (NASDAQ: CLDB) announced its
second quarter 2021 financial results. Net income for the three
months ending June 30, 2021 was $2.0 million, or $0.48 per share,
which was 3% higher than the income level of $1.9 million, or $0.47
per share, for the first quarter of 2020. First quarter 2021 net
income was $2.8 million, or $0.66 per share.
The Company realized a return on average assets ratio of .99%
and 1.18% respectively, for the three- month and six-month periods
ended June 30, 2021. The return on average equity ratio was 9.71%
and 11.63% for the same three- and six-month periods.
For the six months ended June 30, 2021 and 2020, earnings per
share were $1.14 per share and $0.79 per share, with net income of
$4.8 million and $3.3 million, respectively. This represented an
improvement of 44%.
James Gasior, President and CEO stated, “The Bank’s
participation in the first and second rounds of the Paycheck
Protection Program (PPP), which was part of the government’s CARES
Act, contributed to our financial performance but, more
importantly, helped more than 600 total customers and saved nearly
8,000 local jobs. Accelerated loan fees recognized upon the
forgiveness of PPP loans amounted to $390,000 and $890,000 for the
three- and six-month periods ended June 30, 2021.”
The Bank’s performance was also aided by the continued high
volume of mortgage originations and sales which was the result of
record-low interest rates. Mortgage loans alone added gains of
$714,000 to non-interest income for the current quarter. “The
Company has benefited from the substantial reduction in interest
rates nationally and the ongoing improvement in COVID-related
conditions,” continued Gasior. “With interest rates at all-time
lows, the reduction in the cost of funds has mitigated margin
compression.”
Performance was also aided year over year due to the increase in
the provision for credit losses directly attributable to the
COVID-19 pandemic in the second quarter 2020. Specifically,
increases in the allowance for credit losses were recognized
throughout 2020 in the qualitative factor allocations for specific
concentrations of credit in various loan portfolio segments as a
result of economic conditions. Elevated provisions occurred in each
of the first three quarters of 2020 commensurate with COVID-related
loan modifications. With substantially all of those loans now in
full payment status, coupled with a reduction in nonperforming
loans, no provision was necessary in the previous two quarters or
in this current quarter.
“Thanks to additional government programs launched recently,
businesses are able to tap those resources to make it through what
is hopefully the tail end of this pandemic-stressed economy,” said
Gasior.
Additionally, the Company recorded $263,000 of one-time expenses
associated with a proposed merger announced in June 2021.
Cortland Bancorp remained well capitalized with total risk-based
capital to risk-weighted assets of 16.07% and tangible equity to
tangible assets of 10.49%.
Proposed Merger Transaction
On June 23, 2021, the Company announced it entered into a merger
agreement with Canfield-Ohio based Farmers National Banc Corp
(“Farmers”), wherein The Cortland Savings and Banking Company will
merge with and into Farmers. Cortland shareholders will receive
1.75 shares of Farmers stock for each share of Cortland stock, or
$28.00 per share in cash, subject to certain limitations. The
transaction is currently expected to close in the fourth quarter of
2021 and is subject to receipt of Cortland shareholder approval and
customary regulatory approval. The merger is expected to qualify as
a tax-free reorganization for Cortland shareholders electing to
receive Farmers’ shares.
Outlook
Gasior projected the balance of 2021 to have slow, but steady,
progress flowing from anticipated improving economic and pandemic
recoveries. “Asset quality is stable and natural expense inflation
is being contained against a backdrop of current Federal Reserve
guidance,” said Gasior. “In addition, stimulus payments provided by
the government, as well as the PPP funds for our borrowers, have
significantly contributed to deposit growth. Plus, in this
pandemic-laden environment, depositors have increased their rates
of saving.”
Second Quarter 2021 Highlights (at or for the period
ended June 30, 2021)
Net income of $2.0 million, or $.48 per share, for the second
quarter of 2021 represented a 3% improvement on the $1.9 million,
or $.47 per share reported for the second quarter of 2020.
Even with interest margin under pressure, the Company managed a
notable increase of $597,000 in net interest income for the second
quarter ended June 30, 2021 versus the second quarter of 2020, as
the cost of funds declined more than asset yields. Asset yields in
the quarter were enhanced by PPP loan fee recognition of $390,000,
as the completion of the forgiveness process accelerated the
recognition of these fees. As a direct result of the lower rate
environment, the mortgage banking operation recognized gains of
$714,000 on loan originations of $26.2 million for the second
quarter of 2021 versus gains of $900,000 on loan originations of
$34.1 million for the same period in 2020. The originations were
comprised of both refinances of existing mortgage loans and new
purchases of homes.
The efficiency ratio for the Company was 68.65% for the quarter
versus 61.62% for the same period in 2020.
The return on average equity ratio for the Company was 9.71% for
the quarter versus 10.45% for the same quarter in 2020.
Balance Sheet
Total assets were $793 million at June 30, 2021, compared to
$821 million at December 31, 2020 and $780 million at June 30,
2020.
Excluding all PPP loan balances in the quarter-end totals, core
loans remained flat year over year, reflecting the soft loan demand
in the current recovering economy.
Round 1 PPP loans included in June 30, 2020 loans totaled $56.3,
while Round 2 PPP loans included in June 30, 2021 loans totaled
$23.4 million. While the Round 1 PPP loans have been forgiven, the
Round 2 PPP loan forgiveness process is anticipated to begin in the
fourth quarter of 2021.
Total deposits grew by $29.2 million, or 4.5%, to $677.6 million
for the second quarter of 2021 from $648.4 million in the second
quarter of 2020. Noninterest-bearing deposits accounted for 33% of
total deposits, while certificates of deposits were 10% of the
deposit mix.
Asset Quality
No provision for loan losses was recorded for the three months
and six months ended June 30, 2021 versus $450,000 and $1.1
million, respectively a year ago. The decrease is attributable to
substantial provisions throughout 2020, giving recognition to
economic disruption and uncertainty associated with COVID-19.
Nonperforming loans were $6.9 million, compared to $7.9 million
a year earlier and $7.6 million at December 31, 2020. The ratio of
nonperforming assets to total assets at quarter end was .88%. This
reflects an improvement from the 1.02% reported a year ago. The
Company’s ratio of allowance for loan losses to nonperforming loans
was 86.14% at June 30, 2021. With the loan portfolio of
predominantly commercial real estate at low loan-to-value ratios,
collateral coverage weighs in as a significant risk mitigation
factor in evaluating credit exposure.
Performing restructured loans that are included in nonperforming
loans at the end of the quarter were $5.5 million, compared to $5.8
million a year ago and $5.6 million on a linked quarter basis.
The Bank had received requests to modify 127 loans aggregating
$123.7 million through April of 2020. Most of the requests involved
the deferral of principal and interest payments and/or the
extension of the maturity dates. As of June 30, 2021, only 6 loans
aggregating $15.6 million remain in deferral.
Capital
Cortland Bancorp continues to remain well capitalized under all
regulatory measures with capital ratios exceeding the statutory
well-capitalized thresholds by an ample margin. For the quarter
ended June 30, 2021, capital ratios were as follows:
Ratio |
Cortland Bancorp |
Bank |
Well-capitalized Minimum |
Tier 1 leverage ratio |
10.49% |
9.51% |
5.00% |
Tier 1 risk-based capital ratio |
15.00% |
13.61% |
8.00% |
Total risk-based capital ratio |
16.07% |
15.77% |
10.00% |
About Cortland Bancorp
Cortland Bancorp is a financial holding company headquartered in
Cortland, Ohio. Founded in 1892, the bank subsidiary, The Cortland
Savings and Banking Company conducts business through 13
full-service community banking offices located in the counties of
Trumbull, Mahoning, Portage, Summit, and Cuyahoga in Northeastern
Ohio and a financial service center in Fairlawn, Ohio. For
additional information about Cortland Bank visit
http://www.cortlandbank.com.
Forward Looking Statement
This release may contain “forward-looking
statements” that are subject to risks and uncertainties. Readers
should not place undue reliance on forward-looking statements,
which reflect management’s views only as of the date hereof. All
statements, other than statements of historical fact, regarding our
financial position, business strategy and management’s plans and
objectives for future operations are forward-looking statements.
When used in this report, the words “anticipate,” “believe,”
“estimate,” “expect,” and “intend” and words or phrases of similar
meaning, as they relate to Cortland Bancorp or management, are
intended to help identify forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Although we believe that management’s expectations as reflected in
forward-looking statements are reasonable, we cannot assure readers
that those expectations will prove to be correct. Forward-looking
statements are subject to various risks and uncertainties that may
cause our actual results to differ materially and adversely from
our expectations as indicated in the forward-looking statements.
These risks and uncertainties include our ability to maintain or
expand our market share or net interest margins, and to implement
our marketing and growth strategies. Further, actual results may be
affected by our ability to compete on price and other factors with
other financial institutions; customer acceptance of new products
and services; the regulatory environment in which we operate; and
general trends in the local, regional and national banking industry
and economy, as those factors relate to our cost of funds and
return on assets. In addition, there are risks inherent in the
banking industry relating to collectability of loans and changes in
interest rates. Many of these risks, as well as other risks that
may have a material adverse impact on our operations and business,
are identified in our other filings with the SEC. However, you
should be aware that these factors are not an exhaustive list, and
you should not assume these are the only factors that may cause our
actual results to differ from our expectations.
Source: Cortland Bancorp
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SELECTED
FINANCIAL DATA |
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(In thousands of
dollars, except for ratios and per share amounts) |
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Unaudited |
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Three Months Ended |
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Six Months Ended |
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June 30, 2021 |
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June 30, 2020 |
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Var % |
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Mar. 31, 2021 |
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Var % |
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June 30, 2021 |
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June 30, 2020 |
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Var % |
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SUMMARY OF
OPERATIONS |
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|
Interest
income |
$ |
6,622 |
|
|
|
|
$ |
6,618 |
|
|
|
|
— |
% |
|
|
|
$ |
6,932 |
|
|
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|
(4 |
)% |
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|
$ |
13,554 |
|
|
|
|
$ |
13,548 |
|
|
|
|
— |
% |
|
|
|
Interest expense |
|
(411 |
) |
|
|
|
|
(1,004 |
) |
|
|
|
(59 |
) |
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|
|
(534 |
) |
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|
(23 |
) |
|
|
|
|
(945 |
) |
|
|
|
|
(2,229 |
) |
|
|
|
(58 |
) |
|
|
|
Net interest income |
|
6,211 |
|
|
|
|
|
5,614 |
|
|
|
|
11 |
|
|
|
|
|
6,398 |
|
|
|
|
(3 |
) |
|
|
|
|
12,609 |
|
|
|
|
|
11,319 |
|
|
|
|
11 |
|
|
|
|
Provision for loan losses |
|
— |
|
|
|
|
|
(450 |
) |
|
|
|
(100 |
) |
|
|
|
|
— |
|
|
|
|
— |
|
|
|
|
|
— |
|
|
|
|
|
(1,050 |
) |
|
|
|
(100 |
) |
|
|
|
NII after
loss provision |
|
6,211 |
|
|
|
|
|
5,164 |
|
|
|
|
20 |
|
|
|
|
|
6,398 |
|
|
|
|
(3 |
) |
|
|
|
|
12,609 |
|
|
|
|
|
10,269 |
|
|
|
|
23 |
|
|
|
|
Investment
security gains (losses) |
|
(15 |
) |
|
|
|
|
18 |
|
|
|
|
(183 |
) |
|
|
|
|
71 |
|
|
|
|
(121 |
) |
|
|
|
|
56 |
|
|
|
|
|
18 |
|
|
|
|
211 |
|
|
|
|
Non-interest
income |
|
1,480 |
|
|
|
|
|
1,697 |
|
|
|
|
(13 |
) |
|
|
|
|
1,713 |
|
|
|
|
(14 |
) |
|
|
|
|
3,193 |
|
|
|
|
|
3,149 |
|
|
|
|
1 |
|
|
|
|
Non-interest
expense |
|
(5,382 |
) |
|
|
|
|
(4,578 |
) |
|
|
|
18 |
|
|
|
|
|
(4,935 |
) |
|
|
|
9 |
|
|
|
|
|
(10,317 |
) |
|
|
|
|
(9,558 |
) |
|
|
|
8 |
|
|
|
|
Income
before tax |
|
2,294 |
|
|
|
|
|
2,301 |
|
|
|
|
— |
|
|
|
|
|
3,247 |
|
|
|
|
(29 |
) |
|
|
|
|
5,541 |
|
|
|
|
|
3,878 |
|
|
|
|
43 |
|
|
|
|
Federal income tax expense |
|
297 |
|
|
|
|
|
369 |
|
|
|
|
(20 |
) |
|
|
|
|
481 |
|
|
|
|
(38 |
) |
|
|
|
|
778 |
|
|
|
|
|
575 |
|
|
|
|
35 |
|
|
|
|
Net income |
$ |
1,997 |
|
|
|
|
$ |
1,932 |
|
|
|
|
3 |
% |
|
|
|
$ |
2,766 |
|
|
|
|
(28 |
)% |
|
|
|
$ |
4,763 |
|
|
|
|
$ |
3,303 |
|
|
|
|
44 |
% |
|
|
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PER COMMON
SHARE DATA |
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|
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|
Number of
shares outstanding (000s) |
|
4,256 |
|
|
|
|
|
4,223 |
|
|
|
|
1 |
% |
|
|
|
|
4,213 |
|
|
|
|
1 |
% |
|
|
|
|
4,256 |
|
|
|
|
|
4,223 |
|
|
|
|
1 |
% |
|
|
|
Earnings per
share, basic and diluted |
$ |
0.48 |
|
|
|
|
$ |
0.47 |
|
|
|
|
2 |
|
|
|
|
$ |
0.66 |
|
|
|
|
(27 |
) |
|
|
|
$ |
1.14 |
|
|
|
|
$ |
0.79 |
|
|
|
|
44 |
|
|
|
|
Dividends
per share |
|
0.15 |
|
|
|
|
|
0.14 |
|
|
|
|
7 |
|
|
|
|
|
0.19 |
|
|
|
|
(21 |
) |
|
|
|
|
0.34 |
|
|
|
|
|
0.33 |
|
|
|
|
3 |
|
|
|
|
Market
value |
|
26.75 |
|
|
|
|
|
13.22 |
|
|
|
|
102 |
|
|
|
|
|
22.08 |
|
|
|
|
21 |
|
|
|
|
|
26.75 |
|
|
|
|
|
13.22 |
|
|
|
|
102 |
|
|
|
|
Book
value |
|
19.55 |
|
|
|
|
|
17.94 |
|
|
|
|
9 |
|
|
|
|
|
19.25 |
|
|
|
|
2 |
|
|
|
|
|
19.55 |
|
|
|
|
|
17.94 |
|
|
|
|
9 |
|
|
|
|
Market value to book value |
|
136.83 |
% |
|
|
|
|
|
73.66 |
% |
|
|
|
86 |
|
|
|
|
|
114.70 |
% |
|
|
|
19 |
|
|
|
|
|
136.83 |
% |
|
|
|
|
73.66 |
% |
|
|
|
86 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
|
|
|
|
|
|
|
|
BALANCE
SHEET DATA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Assets |
$ |
792,998 |
|
|
|
|
$ |
780,017 |
|
|
|
|
2 |
% |
|
|
|
$ |
791,705 |
|
|
|
|
— |
% |
|
|
|
$ |
792,998 |
|
|
|
|
$ |
780,017 |
|
|
|
|
2 |
% |
|
|
|
Investments
securities |
|
174,344 |
|
|
|
|
|
165,957 |
|
|
|
|
5 |
|
|
|
|
|
170,174 |
|
|
|
|
2 |
|
|
|
|
|
174,344 |
|
|
|
|
|
165,957 |
|
|
|
|
5 |
|
|
|
|
Total
loans |
|
491,986 |
|
|
|
|
|
528,097 |
|
|
|
|
(7 |
) |
|
|
|
|
518,618 |
|
|
|
|
(5 |
) |
|
|
|
|
491,986 |
|
|
|
|
|
528,097 |
|
|
|
|
(7 |
) |
|
|
|
Total
deposits |
|
677,633 |
|
|
|
|
|
648,417 |
|
|
|
|
5 |
|
|
|
|
|
680,311 |
|
|
|
|
— |
|
|
|
|
|
677,633 |
|
|
|
|
|
648,417 |
|
|
|
|
5 |
|
|
|
|
Borrowings |
|
18,052 |
|
|
|
|
|
39,483 |
|
|
|
|
(54 |
) |
|
|
|
|
16,948 |
|
|
|
|
7 |
|
|
|
|
|
18,052 |
|
|
|
|
|
39,483 |
|
|
|
|
(54 |
) |
|
|
|
Shareholders’ equity |
|
83,223 |
|
|
|
|
|
75,772 |
|
|
|
|
10 |
|
|
|
|
|
81,096 |
|
|
|
|
3 |
|
|
|
|
|
83,223 |
|
|
|
|
|
75,772 |
|
|
|
|
10 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AVERAGE
BALANCE SHEET DATA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average
assets |
$ |
808,380 |
|
|
|
|
$ |
774,804 |
|
|
|
|
4 |
% |
|
|
|
$ |
799,967 |
|
|
|
|
1 |
% |
|
|
|
$ |
804,196 |
|
|
|
|
$ |
744,306 |
|
|
|
|
8 |
% |
|
|
|
Average
total loans |
|
508,978 |
|
|
|
|
|
521,447 |
|
|
|
|
(2 |
) |
|
|
|
|
535,597 |
|
|
|
|
(5 |
) |
|
|
|
|
522,214 |
|
|
|
|
|
511,923 |
|
|
|
|
2 |
|
|
|
|
Average
total deposits |
|
694,981 |
|
|
|
|
|
648,287 |
|
|
|
|
7 |
|
|
|
|
|
679,887 |
|
|
|
|
2 |
|
|
|
|
|
687,477 |
|
|
|
|
|
620,724 |
|
|
|
|
11 |
|
|
|
|
Average
shareholders' equity |
|
82,270 |
|
|
|
|
|
73,960 |
|
|
|
|
11 |
|
|
|
|
|
81,596 |
|
|
|
|
1 |
|
|
|
|
|
81,935 |
|
|
|
|
|
76,777 |
|
|
|
|
7 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ASSET
QUALITY RATIOS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
Net
recoveries (charge-offs) |
$ |
(41 |
) |
|
|
|
$ |
(17 |
) |
|
|
|
141 |
% |
|
|
|
$ |
1 |
|
|
|
|
(4,200 |
)% |
|
|
|
$ |
(40 |
) |
|
|
|
$ |
5 |
|
|
|
|
(900 |
)% |
|
|
|
Net
recoveries (charge-offs) to average loans |
|
(0.03 |
)% |
|
|
|
|
(0.01 |
)% |
|
|
|
200 |
|
|
|
|
|
— |
% |
|
|
|
— |
|
|
|
|
|
(0.02 |
)% |
|
|
|
|
— |
% |
|
|
|
— |
|
|
|
|
Non-performing loans as a % of loans |
|
1.41 |
|
|
|
|
|
1.50 |
|
|
|
|
(6 |
) |
|
|
|
|
1.52 |
|
|
|
|
(7 |
) |
|
|
|
|
1.41 |
|
|
|
|
|
1.50 |
|
|
|
|
(6 |
) |
|
|
|
Non-performing assets as a % of assets |
|
0.88 |
|
|
|
|
|
1.02 |
|
|
|
|
(14 |
) |
|
|
|
|
0.99 |
|
|
|
|
(11 |
) |
|
|
|
|
0.88 |
|
|
|
|
|
1.02 |
|
|
|
|
(14 |
) |
|
|
|
Allowance
for loan losses as a % of total loans |
|
1.22 |
|
|
|
|
|
1.05 |
|
|
|
|
16 |
|
|
|
|
|
1.16 |
|
|
|
|
5 |
|
|
|
|
|
1.22 |
|
|
|
|
|
1.05 |
|
|
|
|
16 |
|
|
|
|
Allowance
for loan losses as a % of non-performing loans |
|
86.14 |
|
|
|
|
|
69.71 |
|
|
|
|
24 |
|
|
|
|
|
76.43 |
|
|
|
|
13 |
|
|
|
|
|
86.14 |
|
|
|
|
|
69.71 |
|
|
|
|
24 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FINANCIAL
RATIOSSTATISTICS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest
margin |
|
3.41 |
% |
|
|
|
|
3.21 |
% |
|
|
|
6 |
% |
|
|
|
|
3.58 |
% |
|
|
|
(5 |
)% |
|
|
|
|
3.49 |
% |
|
|
|
|
3.37 |
% |
|
|
|
4 |
% |
|
|
|
Return on
average equity - Company |
|
9.71 |
|
|
|
|
|
10.45 |
|
|
|
|
(7 |
) |
|
|
|
|
13.56 |
|
|
|
|
(28 |
) |
|
|
|
|
11.63 |
|
|
|
|
|
8.60 |
|
|
|
|
35 |
|
|
|
|
- Bank |
|
12.57 |
|
|
|
|
|
12.46 |
|
|
|
|
1 |
|
|
|
|
|
14.70 |
|
|
|
|
(14 |
) |
|
|
|
|
13.63 |
|
|
|
|
|
10.50 |
|
|
|
|
30 |
|
|
|
|
Return on
average assets - Company |
|
0.99 |
|
|
|
|
|
1.00 |
|
|
|
|
(1 |
) |
|
|
|
|
1.38 |
|
|
|
|
(28 |
) |
|
|
|
|
1.18 |
|
|
|
|
|
0.89 |
|
|
|
|
33 |
|
|
|
|
- Bank |
|
1.23 |
|
|
|
|
|
1.14 |
|
|
|
|
8 |
|
|
|
|
|
1.44 |
|
|
|
|
(15 |
) |
|
|
|
|
1.33 |
|
|
|
|
|
1.04 |
|
|
|
|
28 |
|
|
|
|
Efficiency
ratio - Company |
|
68.65 |
|
|
|
|
|
61.62 |
|
|
|
|
11 |
|
|
|
|
|
59.80 |
|
|
|
|
15 |
|
|
|
|
|
64.11 |
|
|
|
|
|
65.04 |
|
|
|
|
(1 |
) |
|
|
|
- Bank |
|
60.80 |
|
|
|
|
|
57.65 |
|
|
|
|
5 |
|
|
|
|
|
57.89 |
|
|
|
|
5 |
|
|
|
|
|
59.31 |
|
|
|
|
|
60.62 |
|
|
|
|
(2 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CAPITAL
RATIOS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tier 1 leverage ratio
- Company - Bank |
|
10.49 |
% |
|
|
|
|
10.00 |
% |
|
|
|
5 |
% |
|
|
|
|
10.45 |
% |
|
|
|
— |
% |
|
|
|
|
10.49 |
% |
|
|
|
|
10.00 |
% |
|
|
|
5 |
% |
|
|
|
|
9.51 |
|
|
|
|
|
8.93 |
|
|
|
|
6 |
|
|
|
|
|
9.41 |
|
|
|
|
1 |
|
|
|
|
|
9.51 |
|
|
|
|
|
8.93 |
|
|
|
|
6 |
|
|
|
|
Common equity tier 1
ratio - Company -Bank |
|
14.11 |
|
|
|
|
|
12.57 |
|
|
|
|
12 |
|
|
|
|
|
13.88 |
|
|
|
|
2 |
|
|
|
|
|
14.11 |
|
|
|
|
|
12.57 |
|
|
|
|
12 |
|
|
|
|
|
13.61 |
|
|
|
|
|
12.02 |
|
|
|
|
13 |
|
|
|
|
|
13.31 |
|
|
|
|
2 |
|
|
|
|
|
13.61 |
|
|
|
|
|
12.02 |
|
|
|
|
13 |
|
|
|
|
Tier 1 risk-based
capital ratio - Company -Bank |
|
15.00 |
|
|
|
|
|
13.44 |
|
|
|
|
12 |
|
|
|
|
|
14.77 |
|
|
|
|
2 |
|
|
|
|
|
15.00 |
|
|
|
|
|
13.44 |
|
|
|
|
12 |
|
|
|
|
|
13.61 |
|
|
|
|
|
12.02 |
|
|
|
|
13 |
|
|
|
|
|
13.31 |
|
|
|
|
2 |
|
|
|
|
|
13.61 |
|
|
|
|
|
12.02 |
|
|
|
|
13 |
|
|
|
|
Total risk-based
capital ratio - Company -Bank |
|
16.07 |
|
|
|
|
|
14.41 |
|
|
|
|
12 |
|
|
|
|
|
15.85 |
|
|
|
|
1 |
|
|
|
|
|
16.07 |
|
|
|
|
|
14.41 |
|
|
|
|
12 |
|
|
|
|
|
15.77 |
|
|
|
|
|
14.05 |
|
|
|
|
12 |
|
|
|
|
|
15.48 |
|
|
|
|
2 |
|
|
|
|
|
15.77 |
|
|
|
|
|
14.05 |
|
|
|
|
12 |
|
|
|
CONTACT:
James M.
GasiorPresident & CEO(330) 282-4111
Cortland Bancorp (NASDAQ:CLDB)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024
Cortland Bancorp (NASDAQ:CLDB)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024