Cashmere Valley Bank Reports Annual Earnings of $28.0 Million [Yahoo! Finance]
CASHMERE VALLEY BANK (CSHX)
Company Research
Source: Yahoo! Finance
Diluted earnings per share was $7.20, representing an increase of $0.51 per share, or 7.7%. On January 16, 2024 the Bank's Board of Directors declared a semi-annual dividend payment of $0.85 per share to shareholders of record on January 26, 2024. The dividend will be paid on February 5, 2024. "I am delighted with how we navigated 2023," said Greg Oakes, President and CEO. "The ability to increase earnings by $2.0 million in light of deposit outflows and interest rate pressure on our deposits is outstanding. 2022 and 2023 stressed financial markets in terms of capital, liquidity and interest rate risk. Those pressures have not entirely abated as of yet. Nonetheless, the increase in earnings and opening of our Union Gap location are reasons to celebrate." 2023 Highlights The Bank reported the following statement of condition highlights as of December 31, 2023: Net income increased 7.6% to $28.0 million for the year ended December 31, 2023 versus $26.0 million for fiscal year
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