From GlobeNewswire: 2025-02-04 08:00:00

Morris State Bancshares, Inc. reported financial results for Q4 2024, with net income of $6.1 million and diluted EPS of $0.52. Full year 2024 saw net income of $21.8 million and a 1.68% return on average assets. The board announced a 30.43% increase in the quarterly cash dividend to $0.12 per share, payable on March 14, 2025, and a special dividend of $0.15 per share.

The bank’s robust performance in 2024 included a net interest margin of 4.06%, 1.68% return on average assets, and 12.74% return on average equity. Total assets remained at $1.49 billion, with $52.1 million increase in net loans. Tangible book value per share increased to $17.45, reflecting strong capital strength and growth in shareholder value.

Key financial highlights for Q4 2024 include net income of $6.1 million, diluted EPS of $0.52, and net loans totaling $1.10 billion. For full year 2024, total assets remained at $1.49 billion, with net income of $21.8 million and a return on average assets of 1.68%. The bank’s solid asset quality was maintained with low nonperforming assets and charge-offs.



Read more at GlobeNewswire:: Morris State Bancshares Announces Solid Earnings in 2024,