Peak Bancorp Inc (fka IDFB)

[Renee]

IDFB: Merged with Huckleberry Merger Sub Inc., a wholly owned subsidiary of BAWAG Group AG. Shareholders of Peak Bancorp, Inc. will receive $12.016 for every one (1) share of IDFB held.

FINRA deleted symbol:

https://otce.finra.org/otce/dailyList?viewType=Deletions

[Enterprising Investor]

BAWAG and Peak Bancorp, Inc. Announce Receipt of All Regulatory Approvals (11/02/23)

BOISE, Idaho, Nov. 02, 2023 (GLOBE NEWSWIRE) -- Peak Bancorp, Inc. (“Peak”), and its subsidiary bank, Idaho First Bank (collectively, the “Bank”) (OTC: IDFB) and BAWAG Group today announced the receipt of all regulatory approvals required for BAWAG to complete the previously announced acquisition of Peak Bancorp, the holding company for Idaho First Bank, a state-chartered community bank. The purchase price remains consistent with the original agreement of $65 million. The closing of the deal will be scheduled for November 30, 2023.

Once the acquisition is completed, BAWAG Group will work with the current leadership team of Idaho First Bank to continue growing its community-focused banking presence in Idaho and adjacent markets. The acquisition provides Idaho First Bank the opportunity to continue growing and serving more customers by leveraging the operational support and financial strength of the broader banking group. It also provides BAWAG Group with a banking platform to pursue further growth opportunities across the United States, while maintaining a disciplined approach to lending focused on risk-adjusted returns and profitable growth.

Todd Cooper, CEO of Peak Bancorp and Idaho First Bank stated, “Today, more than ever, a community bank focused on serving main street businesses and local communities is vital to economic growth. We are excited about this transaction because it allows Idaho First to continue filling that role backed by the financial strength of BAWAG Group.” Mark Miller, Peak Bancorp’s Chairman of the Board continued, “We are proud of the financial performance of Idaho First Bank since the transaction announcement, particularly proud of the performance during 2023, and excited about the opportunities this transaction provides our team, our customers, and our communities. Additionally, shareholders representing nearly one-third of Peak Bancorp ownership have communicated an intent to reinvest after-tax net proceeds from the sale of the Bank into BAWAG stock as we are excited about the many growth opportunities ahead for BAWAG Group.”

Anas Abuzaakouk, CEO, commented: “We are excited about the acquisition of Peak Bancorp and the many opportunities this presents for the Group. Despite the various challenges faced by the US banking sector this year, we have been pleased with the performance of Idaho First Bank, which reflects the financial strength and resilience of the franchise as well as the quality of leadership and the broader team. This acquisition provides BAWAG Group with a US banking platform to drive organic growth in Idaho and across the United States, adding yet another channel for growth. We look forward to welcoming the Idaho First Bank team into the BAWAG family and continuing to grow the franchise.”

About Peak Bancorp

Peak Bancorp, Inc., is the holding company for Idaho First Bank (IFB) a full-service state-chartered community bank established in October 2005 and headquartered in McCall, Idaho. Known for its People First and Community First motto, the Bank serves the greater Southwest Idaho and Central Oregon communities. Branch locations include McCall, New Meadows, Eagle, Ketchum, Nampa, Boise, and Bend. Idaho First Bank is a member of the FDIC and an Equal Housing Lender. For more information, visit us at www.idahofirstbank.com

About BAWAG Group

BAWAG Group AG is a publicly listed holding company headquartered in Vienna, Austria, serving 2.1 million retail, small business, corporate, real estate and public sector customers across Austria, Germany, Switzerland, Netherlands, Western Europe and the United States. The Group operates under various brands and across multiple channels offering comprehensive savings, payment, lending, leasing, investment, building society, factoring and insurance products and services. Our goal is to deliver simple, transparent, and affordable financial products and services that our customers need.

BAWAG Group’s Investor Relations website https://www.bawaggroup.com/ir contains further information, including financial and other information for investors.

https://www.globenewswire.com/news-release/2023/11/02/2772924/0/en/BAWAG-and-Peak-Bancorp-Inc-Announce-Receipt-of-All-Regulatory-Approvals.html

[AskMuncher]

$IDFB UPDATE -- BAWAG Group Agrees to Acquire Peak Bancorp
Press Release | 02/02/2022
MCCALL, Idaho, Feb. 02, 2022 (GLOBE NEWSWIRE) -- Peak Bancorp, Inc., (the Company) (OTC: IDFB), the holding company for Idaho First Bank (the Bank), today announced the signing of an agreement to sell 100% of the shares of Peak Bancorp, Inc. to BAWAG Group, a publicly listed holding company headquartered in Vienna, Austria for $65 million. This cash transaction represents a diluted per share price of $12.05, and is subject to shareholder and regulatory approval.

BAWAG Group will work with the current leadership team of Idaho First Bank to continue growing its community banking focused business in Idaho and adjacent markets, while also providing the operational support and financial strength of a broader banking group. The acquisition enables BAWAG Group to expand its footprint in the United States and better position it for future growth in one of the bank’s core markets.

Todd Cooper, CEO and President of Peak Bancorp, Inc., stated, “We are extremely excited about the opportunity to join BAWAG Group, and are proud to be a focal point for its U.S. expansion efforts. This partnership will allow us to continue serving our markets with a Community First focus. We will be able to leverage BAWAG’s resources, depth, and diversification to better serve our communities and banking customers, while also providing exceptional value to Peak Bancorp shareholders.”

“We are excited about the acquisition of Peak Bancorp and the many opportunities this presents for the Group. This acquisition provides us with a US banking platform to drive organic growth in Idaho and across the United States – growing in a core market that is deep, broad, and transparent. The combination of Idaho First Bank’s community-focused banking augmented with access to new origination channels, capital, and the operational capabilities of the Group will allow us to grow and build a scalable and efficient Retail & SME banking platform. I‘m excited to welcome the whole Idaho First team into the BAWAG family and look forward to the many opportunities ahead,” commented Anas Abuzaakouk, CEO of BAWAG Group.

About Peak Bancorp, Inc.

Peak Bancorp, Inc., is the holding company for Idaho First Bank, a state chartered community bank headquartered in McCall, Idaho. Known for its People First motto, Idaho First Bank serves greater southwest Idaho with branches located in McCall, New Meadows, Eagle, Ketchum, Nampa and Boise, and a loan production office in Bend, Oregon. Idaho First Bank is a member of the FDIC and an Equal Housing Lender.

About BAWAG Group

BAWAG Group AG is a publicly listed holding company headquartered in Vienna, Austria, serving 2.3 million retail, small business, corporate and public sector customers across Austria, Germany, Switzerland, Netherlands, Western Europe and the United States. The Group operates under various brands and across multiple channels offering comprehensive savings, payment, lending, leasing, investment, building society, factoring and insurance products and services. Our goal is to deliver simple, transparent, and affordable financial products and services that our customers need.

CONTACT:
Todd Cooper
President and CEO – Peak Bancorp, Inc.
208.630.2092 – [e-mail]

[AskMuncher]

$IDFB Peak Bancorp, Inc. Announces 3rd Quarter 2021 Results
Press Release | 10/28/2021
MCCALL, Idaho, Oct. 28, 2021 (GLOBE NEWSWIRE) -- Peak Bancorp, Inc., (the Company) (OTC: IDFB), the holding company for Idaho First Bank (the Bank), today announced unaudited financial results for the third quarter ended September 30, 2021.

The Company recognized net income of $1.29 million in the third quarter of 2021, bringing year-to-date net income through the first three quarters of the year to $4.59 million. Book value per share increased to $7.75 per share at the end of the quarter, compared to $7.48 at the previous quarter-end, and $6.62 the same time last year. Chairman Mark Miller noted, “The Board is proud of the team for producing these year-to-date results, and confident the momentum will continue through year-end.”

The Company’s loan portfolio ended the period at $421 million, which included $82 million in Paycheck Protection Program (PPP) loans. This represented growth in the loan portfolio – excluding PPP – of $19 million over the previous quarter, and growth of $106 million from Q3 2020. Deposits ended the quarter at $408 million which is an increase of $124 million from Q3 2020. “Our bank continues to grow as our talented team finds opportunities to expand in our vibrant local economies by providing a People First customer experience,” stated Todd Cooper, CEO.

Credit quality and portfolio performance both remain strong, and the bank continues to fund the allowance for loan loss to support the growing loan balances. At quarter-end the allowance was $4.5 million or 1.34% of loans less PPP balances. Chief Credit Officer Shannon Stoeger commented, “Proactively monitoring our borrowing relationships and maintaining our underwriting standards is key to the good portfolio performance to date.”

About Peak Bancorp, Inc.

Peak Bancorp, Inc., is the holding company for Idaho First Bank, a state chartered community bank headquartered in McCall, Idaho. Known for its People First motto, Idaho First Bank serves greater southwest Idaho with branches located in McCall, New Meadows, Eagle, Ketchum, Nampa and Boise, and a loan production office in Bend, Oregon. Idaho First Bank is a member of the FDIC and an Equal Housing Lender. For more information, visit us at www.idahofirstbank.com

This release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 (“PSLRA”). Such forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those projected. These risks and uncertainties include, but are not limited to, economic conditions, the regulatory environment, loan concentrations, vendors, employees, technology, competition, and interest rates. Readers are cautioned not to place undue reliance on the forward-looking statements. Idaho First Bank has no obligation to publicly update forward-looking statements after the date of this release. This statement is included for the express purpose of invoking PSLRA’s safe harbor provisions.

Peak Bancorp, Inc.
Consolidated Financial Highlights (unaudited)
(Dollars in thousands, except per share)

For the nine months ended September 30: 2021 2020 Change
Net interest income $16,711 $11,114 $5,597 50 %
Provision for loan losses 1,400 1,070 330 31 %
Mortgage banking income 1,172 377 795 211 %
Other noninterest income 603 438 165 38 %
Noninterest expenses 10,810 8,315 2,495 30 %
Net income before taxes 6,276 2,544 3,732 147 %
Tax provision 1,688 685 1,003 146 %
Net income $4,588 $1,859 $2,729 147 %

At September 30: 2021 2020 Change
Loans $420,832 $856,333 $(435,501 ) -51 %
Allowance for loan losses 4,530 3,168 1,361 43 %
Assets 550,658 916,695 (366,037 ) -40 %
Deposits 407,508 283,678 123,829 44 %
Stockholders' equity 40,639 32,296 8,343 26 %

Nonaccrual loans 673 - 673
Accruing loans more than 90 days past due - - -
Other real estate owned - - -

Total nonperforming assets 673 - 673

Book value per share 7.75 6.62 1.13 17 %
Shares outstanding 5,246,306 4,875,122 371,184 8 %

Allowance to loans 1.08% 0.37%
Allowance to nonperforming loans 673% -
Nonperforming loans to total loans 0.16% 0.00%

Averages for the nine months ended September 30: 2021 2020 Change
Loans $647,524 $544,329 $103,196 19 %
Earning assets 734,650 615,728 118,922 19 %
Assets 750,229 628,880 121,349 19 %
Deposits 396,046 253,851 142,195 56 %
Stockholders' equity 37,490 29,052 8,438 29 %

Loans to deposits 163% 214%
Net interest margin 3.04% 2.41%



Peak Bancorp, Inc.
Quarterly Consolidated Financial Highlights (unaudited)
(Dollars in thousands)

Income Statement Q3 2021 Q2 2021 Q1 2021 Q4 2020 Q3 2020
Net interest income $5,040 $5,680 $5,990 $5,556 $5,106
Provision for loan losses 300 600 500 - 500
Mortgage banking income 300 403 468 541 253
Other noninterest income 226 195 182 172 169
Noninterest expenses 3,500 3,760 3,549 4,646 3,695
Net income before taxes 1,766 1,918 2,592 1,622 1,332
Tax provision 478 515 695 432 357
Net income $1,288 $1,403 $1,897 $1,190 $975

Period End Information Q3 2021 Q2 2021 Q1 2021 Q4 2020 Q3 2020
Loans $420,832 $541,392 $734,137 $819,117 $856,333
Deposits 407,508 404,899 390,133 348,181 283,678
Allowance for loan losses 4,530 4,221 3,620 3,169 3,168
Nonperforming loans 673 10 - - -
Other real estate owned - - - - -
Quarterly net charge-offs (recoveries) (9 ) (1 ) 49 (1 ) (1 )

Allowance to loans 1.08% 0.78% 0.49% 0.39% 0.37%
Allowance to nonperforming loans 673% 42301% - - -
Nonperforming loans to loans 0.16% 0.00% 0.00% 0.00% 0.00%

Average Balance Information Q3 2021 Q2 2021 Q1 2021 Q4 2020 Q3 2020
Loans $475,672 $674,937 $795,479 $843,342 $833,805
Earning assets 604,581 752,334 849,729 892,737 892,726
Assets 619,559 768,735 865,093 908,173 907,075
Deposits 407,186 407,522 373,053 311,071 279,100
Stockholders' equity 39,789 38,003 34,623 32,757 31,055

Loans to deposits 117% 166% 213% 271% 299%
Net interest margin 3.31% 3.03% 2.86% 2.48% 2.28%

CONTACT:
Todd Cooper
President and CEO – Peak Bancorp, Inc.
208.630.2092 – [e-mail]

[AskMuncher]

$IDFB Peak Bancorp, Inc. Announces 3rd Quarter 2021 Results
Press Release | 10/28/2021
MCCALL, Idaho, Oct. 28, 2021 (GLOBE NEWSWIRE) -- Peak Bancorp, Inc., (the Company) (OTC: IDFB), the holding company for Idaho First Bank (the Bank), today announced unaudited financial results for the third quarter ended September 30, 2021.

The Company recognized net income of $1.29 million in the third quarter of 2021, bringing year-to-date net income through the first three quarters of the year to $4.59 million. Book value per share increased to $7.75 per share at the end of the quarter, compared to $7.48 at the previous quarter-end, and $6.62 the same time last year. Chairman Mark Miller noted, “The Board is proud of the team for producing these year-to-date results, and confident the momentum will continue through year-end.”

The Company’s loan portfolio ended the period at $421 million, which included $82 million in Paycheck Protection Program (PPP) loans. This represented growth in the loan portfolio – excluding PPP – of $19 million over the previous quarter, and growth of $106 million from Q3 2020. Deposits ended the quarter at $408 million which is an increase of $124 million from Q3 2020. “Our bank continues to grow as our talented team finds opportunities to expand in our vibrant local economies by providing a People First customer experience,” stated Todd Cooper, CEO.

Credit quality and portfolio performance both remain strong, and the bank continues to fund the allowance for loan loss to support the growing loan balances. At quarter-end the allowance was $4.5 million or 1.34% of loans less PPP balances. Chief Credit Officer Shannon Stoeger commented, “Proactively monitoring our borrowing relationships and maintaining our underwriting standards is key to the good portfolio performance to date.”

About Peak Bancorp, Inc.

Peak Bancorp, Inc., is the holding company for Idaho First Bank, a state chartered community bank headquartered in McCall, Idaho. Known for its People First motto, Idaho First Bank serves greater southwest Idaho with branches located in McCall, New Meadows, Eagle, Ketchum, Nampa and Boise, and a loan production office in Bend, Oregon. Idaho First Bank is a member of the FDIC and an Equal Housing Lender. For more information, visit us at www.idahofirstbank.com

This release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 (“PSLRA”). Such forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those projected. These risks and uncertainties include, but are not limited to, economic conditions, the regulatory environment, loan concentrations, vendors, employees, technology, competition, and interest rates. Readers are cautioned not to place undue reliance on the forward-looking statements. Idaho First Bank has no obligation to publicly update forward-looking statements after the date of this release. This statement is included for the express purpose of invoking PSLRA’s safe harbor provisions.

Peak Bancorp, Inc.
Consolidated Financial Highlights (unaudited)
(Dollars in thousands, except per share)

For the nine months ended September 30: 2021 2020 Change
Net interest income $16,711 $11,114 $5,597 50 %
Provision for loan losses 1,400 1,070 330 31 %
Mortgage banking income 1,172 377 795 211 %
Other noninterest income 603 438 165 38 %
Noninterest expenses 10,810 8,315 2,495 30 %
Net income before taxes 6,276 2,544 3,732 147 %
Tax provision 1,688 685 1,003 146 %
Net income $4,588 $1,859 $2,729 147 %

At September 30: 2021 2020 Change
Loans $420,832 $856,333 $(435,501 ) -51 %
Allowance for loan losses 4,530 3,168 1,361 43 %
Assets 550,658 916,695 (366,037 ) -40 %
Deposits 407,508 283,678 123,829 44 %
Stockholders' equity 40,639 32,296 8,343 26 %

Nonaccrual loans 673 - 673
Accruing loans more than 90 days past due - - -
Other real estate owned - - -

Total nonperforming assets 673 - 673

Book value per share 7.75 6.62 1.13 17 %
Shares outstanding 5,246,306 4,875,122 371,184 8 %

Allowance to loans 1.08% 0.37%
Allowance to nonperforming loans 673% -
Nonperforming loans to total loans 0.16% 0.00%

Averages for the nine months ended September 30: 2021 2020 Change
Loans $647,524 $544,329 $103,196 19 %
Earning assets 734,650 615,728 118,922 19 %
Assets 750,229 628,880 121,349 19 %
Deposits 396,046 253,851 142,195 56 %
Stockholders' equity 37,490 29,052 8,438 29 %

Loans to deposits 163% 214%
Net interest margin 3.04% 2.41%



Peak Bancorp, Inc.
Quarterly Consolidated Financial Highlights (unaudited)
(Dollars in thousands)

Income Statement Q3 2021 Q2 2021 Q1 2021 Q4 2020 Q3 2020
Net interest income $5,040 $5,680 $5,990 $5,556 $5,106
Provision for loan losses 300 600 500 - 500
Mortgage banking income 300 403 468 541 253
Other noninterest income 226 195 182 172 169
Noninterest expenses 3,500 3,760 3,549 4,646 3,695
Net income before taxes 1,766 1,918 2,592 1,622 1,332
Tax provision 478 515 695 432 357
Net income $1,288 $1,403 $1,897 $1,190 $975

Period End Information Q3 2021 Q2 2021 Q1 2021 Q4 2020 Q3 2020
Loans $420,832 $541,392 $734,137 $819,117 $856,333
Deposits 407,508 404,899 390,133 348,181 283,678
Allowance for loan losses 4,530 4,221 3,620 3,169 3,168
Nonperforming loans 673 10 - - -
Other real estate owned - - - - -
Quarterly net charge-offs (recoveries) (9 ) (1 ) 49 (1 ) (1 )

Allowance to loans 1.08% 0.78% 0.49% 0.39% 0.37%
Allowance to nonperforming loans 673% 42301% - - -
Nonperforming loans to loans 0.16% 0.00% 0.00% 0.00% 0.00%

Average Balance Information Q3 2021 Q2 2021 Q1 2021 Q4 2020 Q3 2020
Loans $475,672 $674,937 $795,479 $843,342 $833,805
Earning assets 604,581 752,334 849,729 892,737 892,726
Assets 619,559 768,735 865,093 908,173 907,075
Deposits 407,186 407,522 373,053 311,071 279,100
Stockholders' equity 39,789 38,003 34,623 32,757 31,055

Loans to deposits 117% 166% 213% 271% 299%
Net interest margin 3.31% 3.03% 2.86% 2.48% 2.28%

CONTACT:
Todd Cooper
President and CEO – Peak Bancorp, Inc.
208.630.2092 – [e-mail]

[Renee]

Idaho First Bank changed to Peak Bancorp Inc.

https://otce.finra.org/otce/dailyList?viewType=Symbol%2FName%20Changes

[BigCat]

$6.50 Hit

[BigCat]

Nice action here today!

[BigCat]

$5.25 then $6.00 Taken Out!

$6.00 x $6.50

[BigCat]

Book Value: $6.66 (12/31/15)
Moving Value: $5.10 (1/1/15)

*This Currently Represents a 23% Discount to Book Value

[BigCat]

Idaho First Bank Reports 2015 Result

MCCALL, ID--(Marketwired - February 01, 2016) - Today Idaho First Bank (OTC PINK: IDFB) reported financial results for the year ended December 31, 2015. The Bank reported net income of $1,923,000 for 2015, a 12% increase from net income of $1,722,000 in the same period of 2014. Mark Miller, Chairman of the Board, commented, "We are gratified with our results. We believe in adding continued value and return to our shareholders. The Board is actively engaged with management in setting and monitoring our strategic direction and progress toward achieving our goals."

http://seekingalpha.com/pr/16039416-idaho-first-bank-reports-2015-results

http://finance.yahoo.com/news/idaho-first-bank-reports-2015-144818246.html

[BigCat]

IDFB 2015 Profit: $1,923,000
4th Quarter 2015 Profit: $485,000

[BigCat]

BV: $6.46 (9/30/15)
MV: $5.10 (1/27/16)

*This Currently Represents a 21% Discount to BV

[BigCat]

Moving up nicely here off it's $4.50 Low.

[Renee]

IDFB one for 10 reverse split:

http://otce.finra.org/DLSymbolNameChanges

[kranthikumar]

IDFB is up by 100%

[SaltyMutt]

You have picked a winner! I think the IDFB pps will soon be over a buck with five bucks not too far off in the future.

[genlou]

Salty,"The bank immediately started the process of buying an old branch once operated by Farmer's and Merchants State Bank in Boise. That will be the bank's first branch. Lovell had to wait for regulators to lift the order before Idaho First could acquire the branch. The bank already had a loan production officer in Boise.

The lifted order is a positive sign for Idaho community banks, said Gavin Gee, director of the Idaho Department of Finance, which regulates state-chartered banks."

Read more here: http://www.idahostatesman.com/2013/09/06/2746344/regulators-remove-order-from-idaho.html#storylink=cpy

[56Chevy]

This [Consent Order lifted] is a major accomplishment for the bank. I'm sure there was a some celebrating - three and a half years is along time to have an axe hanging over your head.

Good find genlou..thanx for sharing. CIBH went on a nice run not long after their C O was lifted.

Way to go IDFB!!!

[genlou]

IDFB) reported it was notified by the Federal Deposit Insurance Corporation ("FDIC") and the Idaho State Department of Finance ("DOF") that the Consent Order dated February 10, 2010, between the FDIC, DOF and Idaho First Bank was terminated as of August 29, 2013.

[genlou]

56Chevy, MCCALL, ID--(Marketwired - Sep 4, 2013) - Idaho First Bank (OTCQB: IDFB) reported it was notified by the Federal Deposit Insurance Corporation ("FDIC") and the Idaho State Department of Finance ("DOF") that the Consent Order dated February 10, 2010, between the FDIC, DOF and Idaho First Bank was terminated as of August 29, 2013.

Chairman of the Board, Mark Miller stated, "We are happy to receive this communication. We worked closely with the regulatory authorities during this difficult time and appreciate this recognition of the hard work by staff, management, and Board to improve the Bank's financial condition." He continued by saying, "We also appreciate the commitment by our shareholders and our customers for working with us during this time."

"The Bank, with the removal of the Consent Order, is in a position to capitalize on the improvements we have made during the recession. We are leaner, more efficient, and will continue to meet our clients' banking needs," said Greg Lovell, President and CEO. He further stated, "We have raised additional capital and exceed the regulatory definition of 'well-capitalized.' However, our continued goal is to achieve a ten percent Tier One Capital ratio."

The Bank will continue to operate under an informal agreement with the FDIC and DOF. The termination of the formal order however is a reflection of the improvement in financial performance and diligence by the Board of Directors and staff in addressing the terms of the Consent Order while providing high levels of client service to its customers.

Idaho First Bank is a state-chartered commercial bank that opened for business in October 2005. Its headquarters are in McCall, Idaho, with a loan production office in downtown Boise.

This release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 ("PSLRA"). Such forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those projected. These risks and uncertainties include, but are not limited to, economic conditions, the regulatory environment, loan concentrations, vendors, employees, technology, competition, and interest rates. Readers are cautioned not to place undue reliance on the forward-looking statements. Idaho First Bank has no obligation to publicly update the forward-looking statements after the date of this release. This statement is included for the express purpose of invoking PSLRA's safe harbor provisions.
Contact:

[56Chevy]

Notes from the 2012 Financial Statement

Federal Tax NOL-CF is $9.1MM
Idaho State Tax NOL-CF is $9.6MM

The Bank accepted stock subscriptions of $1.3MM and issued 3.1MM shares of new stock at a price of .42 per share in March 2013. As of March 31, 2013, the Total Risk based Capital to Risk-Weighted Assets Ration improved to 10.53% compared to 8.73% at December 31, 2012. The BoD believes that this new capital, in conjunction with improved earnings and decreasing classified assets will result in termination of the FDIC consent order.

In conjunction with the common stock offering, 3,070,223 shares of common stock warrants were issued. The new warrant holders have the right to purchase common stock at a price of $0.42 per share at any time prior to the warrant expiration on December 27, 2017. Also in connection with the offering, there were 5,212,671 warrants expiring on December 30, 2013, that were replaced by warrants expiring on December 27, 2017. The exercise price of the extended warrants was unchanged.

On April 22, 2013, the bank purchased its McCall office building and land from the landlord, terminating the existing lease. As of December 31, 2012, the amount of the future rental payments, assuming current lease rates, disclosed in Note 8 was $2.6 Million. The amount paid for the property is less than the present value of future rental payments considering expected lease rate increases. The purchase of the property was paid with $200K in common stock and the remainder in cash.

https://www.idahofirstbank.com/files/Idaho_First_audit_2012_pdf.pdf

*Those .42 warrants are going to be very nice to have down the road. Being an accredited investor has its perks!

**I didn't see where the bank had ever taken TARP money..that still needs to be 100% verified but if true that's a good thing going forward...and hopefully the cap raising effort will result in the Consent Order being lifted. Things are defintely looking up for this small bank.

[56Chevy]

Idaho First Bank Reports Mid-Year Results

Date : 07/30/2013 @ 9:13AM
Source : Marketwired
Stock : Idaho First Bank (id) (QB) (IDFB)
Quote : 0.44 0.0 (0.00%) @ 5:01PM

Today Idaho First Bank (OTCQB: IDFB) reported financial results for June 30, 2013. The Bank reported net income of $206,000 for the first half of 2013, compared to net income of $39,000 in the same period last year. The quarterly net income for the second quarter was $100,000, down slightly from first quarter income of $106,000, but significantly higher than the $16,000 of income in the second quarter of 2012.

In the first six months of 2013 the Bank issued $1.6 million of new stock, significantly improving the Bank's capital position. In additional to the new capital already raised, the Bank is continuing its private placement offering to accredited investors with a goal of a 10% capital to asset ratio. At June 30, 2013, the capital to asset ratio was 8%. "We believe with this improved performance and the additional capital we have substantially improved the status of the Bank," stated Mark Miller, Chairman of the Board.

Comparing the first half of 2013 to the first half of 2012, the Bank achieved a 9% increase in net interest income. This was driven by average loan growth of 3% and an improving net interest margin. Mortgage banking income also contributed to the improved results. Mortgage banking income was almost up 77% from last year. "The performance of the loan portfolio is having a positive impact on our earnings. Lower problem loan levels have reduced the negative drag on earnings," stated Greg Lovell President and CEO. He further said, "We continue to emphasize the purchase market in our real estate lending. This helps to soften any loss of business from a slow down in the refinance market."

During the second quarter the Bank purchased the real estate of the Bank's main office in McCall. This purchase reduced significantly the cost of occupancy going forward. "We intend to lease out excess space and, to date, have been successful in implementing that strategy," stated President Lovell. A portion of the purchase price was paid in stock further increasing the capital of the Bank.

Nonperforming assets were $1.1 million at June 30, 2013, a decrease of 7% from the prior year. The allowance for loan losses was 1.37% of loans at June 30. Chief Credit Officer Jerry Jutting said, "We believe the worst of our legacy credits are behind us now and we have been adding quality core loans to our portfolio."

Idaho First Bank is a state-chartered commercial bank that opened for business in October 2005. Its headquarters are located in McCall, Idaho, with a loan production office in downtown Boise.

[....]

http://ih.advfn.com/p.php?pid=nmona&article=58602989

*Book value per share on 8/1/2013 is 0.56...while Market value is .44.

IDFB is "on sale" for 21% below BV.

The O/S count is: 12,003,349

**Leasing out space in their newly purchased building will be a source of future income as well.

[SaltyMutt]

IDFB has a heck of a lot going for them. I don't see the pps being stuck below a buck forever.

[BigCat]

Thanks for the heads up! Added to my watch list...

I've looked at this one in the past...

[genlou]

You may want to watch alby.I hope the information below apply to the whole company. AB&T NATIONAL BANK
[[print]]
RSSD ID 2775151 | CERTIFICATE 35029 | ABA NUMBER 61219694
2815 Meredyth Drive Quarter Ended : 2013-03-31
Albany, Georgia, 31708 Updated : 2013-04-29
www.abtgold.com
Holding Company (RSSDID 2775142) : Community Capital Bancshares, Inc.

Institution Profile
Year Opened : 1999 Institution Type : Commercial bank
Entity Type : Federal Federal Regulator : OCC
Member Federal Reserve : Yes S-Corp : No
Fiduciary Powers : Yes Powers Exercised : Yes
Specialization : Commercial Lending Specialization
Statistical Area (MSA) : Albany, GA
Interstate Branches : No Foreign Offices : No
Number of Offices : 4 Number of Employees : 45

Financial Reports
RC - Balance Sheet Report
RI - Income Statement Report
:· All Financial Reports ...

Financial Fast Facts
Balance Sheet
(USD, in thousands)
Income Statement
(USD, in thousands, ytd)
Total Assets 130,626
Total Interest Income 1,196
Total Liabilities 119,764
Total NonInterest Income 298
Total Bank Equity Capital 10,862
Total Interest Expense 100
Total Deposits 108,501
Total NonInterest Expense 1,284
Net Loans & Leases 93,115
Net Income 109
Loan Loss Allowance 1,726
Net Charge Offs 63



Regulatory Capital
Quarterly Averages
(USD, in thousands)
Total risk based capital 11,816
Total loans 91,891
Total assets for leverage capital purposes 125,007
Loans secured by real estate: 70,705
Tier 1 Leverage Ratio 8.5
Commercial and industrial loans 9,726
Tier 1 Risk-based Capital Ratio 11.19
Loans to individuals - Credit Cards 0
Total Risk-based Capital Ratio 12.45
Loans to individuals - Other 4,639


Community Capital Bancshares Inc (ALBY) Stock Trading Info:
ALBY Stock Quote ALBY Level 2

[genlou]

Thank you

[BigCat]

It's profitable... And that's always a good sign.
I've yet to buy any shares in it.
It only has one bank and a loan office. Not much to it really...
I've had it on my watch list for awhile.
86M in Assets, 78M in Deposits.
Outstanding Shares at 8.6 Million and 35M Authorized. Seems like quite a bit for such a small bank...
Earned .03 per share in 2012 with 262k in earnings. Not too shabby I guess.
I'm just keeping it on my radar for now. I like their image and that they're located in a resort town... But ultimately it's about turning a profit.

[genlou]

Do you like IDFB?

[mrbizzard]

Gracias!!

[illegal_alias]

nice ride!

[BigCat]

Idaho First Bank Q1 net income up
3 days 1 hours 43 minutes ago - Datamonitor via Comtex
Idaho First Bank has reported a net income of $106,000, for the first quarter ended March 31, 2013, compared to $23,000, for the first quarter ended March 31, 2012.

Net interest income for the first quarter ended March 31, 2013 was $771,000, compared to $698,000, for the first quarter ended March 31, 2012.

Other non-interest income for the first quarter ended March 31, 2013 was $77,000, compared to $56,000, for the first quarter ended March 31, 2012.

Assets as of March 31, 2013 were $82.46 million, compared to $76.52 million, as of March 31, 2012.

Mark Miller, Chairman of the Board, stated, "The Board and Senior Management had significant participation in the offering and their investment represented 65% of the new capital."

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[mrbizzard]

dollars cometh

[mrbizzard]

in since .25 I knew it will be dollars one day...

[Planopenny]

news here. not bad