Affinity Bancshares Inc (AFBI) Reports Mixed Financial Outcomes for Q4 and Full Year 2023 [Yahoo! Finance]
Affinity Bancshares, Inc. (AFBI)
Company Research
Source: Yahoo! Finance
Net Interest Margin: Declined to 3.32% in Q4 from 3.85% year-over-year. Asset Quality: Non-performing loans rose to $7.4 million, with a lower allowance for credit losses ratio. Deposits and Borrowings: Deposits grew by $17.2 million; borrowings increased to $40 million to enhance liquidity. On February 1, 2024, Affinity Bancshares Inc ( NASDAQ:AFBI ) released its 8-K filing , detailing the financial results for the fourth quarter and the full year of 2023. The company, a holding entity for Affinity Bank, which provides a range of banking services including various deposit accounts and loans, faced a challenging financial period with a decrease in net income attributed to rising deposit interest expenses. Performance and Challenges For the quarter ended December 31, 2023, AFBI reported a net income of $1.5 million, a decrease from the $1.7 million reported in the same period of the previous year. This decline was primarily due to an increase in deposit interest expenses, wh
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AFBI
News
- Affinity Bancshares, Inc. Announces First Quarter 2024 Financial ResultsBusiness Wire
- Investors in Affinity Bancshares (NASDAQ:AFBI) have seen respectable returns of 65% over the past five years [Yahoo! Finance]Yahoo! Finance
- Insider Stock Buying Reaches US$1.06m On Affinity Bancshares [Yahoo! Finance]Yahoo! Finance
AFBI
Sec Filings
- 4/26/24 - Form 8-K
- 4/12/24 - Form ARS
- 4/12/24 - Form DEF
- AFBI's page on the SEC website