Coeur d'Alene Bancorp (OTC PINK:CDAB), the Parent Company of bankcda, Is Pleased To Announce Its Results for the Second Quarter 2022 and Year to Date 2022.

COEUR D'ALENE, ID / ACCESSWIRE / July 15, 2022 / Coeur d'Alene Bancorp today reported net income for the second quarter of $413,517 or $0.22 per share, compared to $408,913 or $0.22 for the second quarter of 2021. Net income of $644,772 or $0.34 per share for the six months ended June 30, 2022, was also reported, compared to $928,429 or $0.49 per share for the six months ended 2021. All results are unaudited.

As of June 30, 2022, total consolidated assets were $251.2 million, an increase of $16 million or 6.8% compared to June 20, 2021. Gross loans ended the period at $96.4 million compared to $79.9 million net of PPP as of June 30, 2021, a 21% increase. We have continued adding to our investment portfolio which totaled $104.5 million at the end of the quarter. During the quarter, unrealized loss increased $2.4 million to $5.7 million or 5.17% of the investment portfolio. The duration of the investment portfolio remains short at 2.61 years. Total deposits ended the quarter at $228.9 million compared to $207.3 million as of June 30, 2021, and $228.1 million as of March 30, 2022.

"We were able to benefit during the second quarter from rising rates due to our strong liquidity position and core deposit base. Net income for the quarter was $413,517, compared to $408,913 for second quarter 2021 which included significant PPP income. Core earnings excluding PPP increased 62% year over year for the second quarter. Net income for six months ended was $644,772, down from prior year due to the absence of PPP income. Our strong liquidity position and short duration of our investment portfolio should allow us to benefit from continued rate increases anticipated in the second half of the year. Our local economy remains strong with an unemployment rate of 2.7% and increasing home values; but we are monitoring economic conditions closely in the west, based on the effect the greater region has on our local economy with most of our population growth coming from coastal markets," said Wes Veach, President, and Chief Executive Officer.

Financial Highlights:

• Earnings per share of $0.34 for the six months ended 2022, versus $0.49 per share for the six months ended 2021.
• Book value per share decreased to $9.13 compared to $11.28 from one year ago.
• Annualized return on average assets (ROAA) was 0.65% for second quarter 2022, compared to 0.74% for second quarter 2021; and 0.51% for the six months ended 2022 compared to 0.88% for the six months ended 2021.
• Annualized return on average equity (ROAE) was 6.75% for the six months ended 2022, compared 8.88% for the six months ended 2021.
• Total assets ended the period at $251.2 million, compared to $235.2 million one year ago and $252.4 million as of March 31, 2022.
• Total deposits were $228.9 million versus $207.3 million on June 30, 2021, and $228.1 million on March 31, 2022.
• All capital ratios continue to exceed regulatory minimums.
• Continue to be FIVE Star-rated from Bauer Financial, which is their highest rating.

Coeur d'Alene Bancorp, parent company of bankcda, is headquartered in Coeur d'Alene, Idaho with branches in Coeur d'Alene, Hayden, Post Falls and Kellogg, Idaho.

For more information, visit www.bankcda.bank or contact Wes Veach at 208-415-5006.

SOURCE: Coeur D Alene Bancorp