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RBAZ Bancorp, Inc. Announces Unaudited Financial Results For the Quarter Ending March 31, 2024 [Yahoo! Finance]

RBAZ BANCORP INC (RBAZ) 
Company Research Source: Yahoo! Finance
PHOENIX, April 25, 2024 (GLOBE NEWSWIRE) -- RBAZ Bancorp, Inc. (OTCIQ: RBAZ) (the “Company”), parent company of Republic Bank of Arizona (the “Bank” or “RBAZ”), announced a consolidated net income of $713,000, or $0.40 per share, for the quarter ended March 31, 2024 as compared to a consolidated net income of $462,000, or $0.26 per share, for the quarter ended March 31, 2023. President and CEO Brian Ruisinger stated “I am pleased with our strong Q1 earnings performance reflecting an increase over 50% from a year ago primarily due to increased net interest income. We were able to increase pricing on our earning assets while cost of funds stabilized as a result of the recent pauses by the Federal Reserve. Our liquidity position also strengthened during the quarter; a significant achievement given the tightening of liquidity experienced in the industry over the past 18 months. We saw some expected loan payoffs late in the quarter on completed construction projects and bridge loans. On Show less Read more
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