Third quarter results announced by bankcda
Coeur d’Alene Bancorp, the parent company of bankcda, announced its quarterly results for the third quarter 2018.
Coeur d’Alene Bancorp reported net income of $347,507 for the quarter ended Sept. 30, 2018, compared to $157,028 to the quarter ended Sept. 30 2017. Earnings per share for the quarter ended Sept. 30, 2018 was $0.26 compared to $0.12 for the quarter ended Sept. 30, 2017.
The company had net income $913,070, or $0.69 per share, for the nine months ended Sept. 30, 2018, compared to $384,937, or $0.28 per share, for the nine months ended Sept. 30, 2017, which is more than double prior year net income.
Tangible book value per share increased to $8.71 compared to $7.96 from one year ago.
Total assets ended the quarter at $123.7 million compared to $111.2 million from one year ago which represents an 11.24 percent increase.
Gross loans were $75.4 million as compared to $72.5 million from the prior year which represents 4.00 percent growth.
Total deposits ended the quarter at $111.7 million compared to $99.6 million from one year ago, a 12.15 percent increase.
All capital ratios continue to exceed regulatory minimums.
“We are pleased with the overall performance in the third quarter of 2018. Although loan growth continues to be a challenge due to prepayments, loan originations continue to be strong. We continue to have strong deposit growth at all three locations,” said bankcda CEO Wes Veach.
“The positioning of our balance sheet has allowed us to improve our net interest margin in this rising rate environment. We have submitted the necessary paperwork to obtain a ticker symbol and begin trading on the over the counter market which should commence in the fourth quarter. Trading on the OTC will allow our stock to be quoted in newspapers and financial websites. This step is intended to create liquidity in the stock by making the stock price more readily available.”
The bank continues to be five-star rated by Bauer Financial, the highest rating given by the independent rating agency for financial institutions.
Coeur d’Alene Bancorp, parent company of bankcda, is headquartered in Coeur d’Alene, Idaho, with branches in Coeur d’Alene, Hayden and Kellogg.
Smith joins HMH Engineering
HMH Engineering announced the addition of Nick Smith, staff engineer, to its team.
As an engineer in training, Smith will apply his steadily growing experience to provide assistance on a wide variety of projects. Nick grew up in Helena, Mont. He recently graduated from Montana Tech with a master’s degree in general engineering — civil option.
HMH Engineering is a civil engineering firm with office locations throughout Idaho. HMH provides engineering and consulting services in the fields of surveying, land and site development, materials testing, GIS, municipal engineering, water and sewer, and transportation engineering.
ISDA elects new leadership
Several Kootenai County dentists are among the new officers, trustees and delegates recently elected by the Idaho State Dental Association.
The group, elected at the association’s annual meeting in Boise, will serve for the upcoming year. The ISDA is enhancing its connection to the American Dental Association by increasing the number of alternate delegates elected to represent the state at the national level. The Idaho State Dental Association’s new leadership includes Executive Committee, immediate past president, James R. Miller, DDS, Hayden; Board of Trustees, Idaho Panhandle Dental Society, Shaun Whitney, DDS, Coeur d’Alene; American Dental Association delegates, Geffrey W. Thompson, DMD, Coeur d’Alene; American Dental Association alternate delegates, Timothy Penberthy, DDS, Coeur d’Alene; Component presidents, Idaho Panhandle Dental Society, Katherine Martin, DDS, Hayden.
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