One of the companies which may well find a degree of attention from investors today is First Commerce Bank (OTCMKTS:CMRB), which announced its financial results for the fiscal year that had ended on December 31, 2022.
Trading Data
On Tuesday, CMRB stock moved down 0.50% to $7.96 with 5.35K shares, compared to volume of 4.82K shares. The stock moved within a range of $7.75 – 7.96 after opening trade at $7.75.
First Commerce Bank Earns $16.6 Million for the Year Ended December 31, 2022, and Declares a Quarterly Cash Dividend of $0.04 per Common Share
The company announced yesterday that in the fiscal year it managed to generate net income to the tune of $16.6 million and that was slightly lower than the net income of $16.6 million in the fiscal year that ended on December 31, 2021. However, that was not all. The board of directors at First Commerce Bank also approved and then declared a cash dividend of $0.04 for each common share for the quarter.
The dividends are going to paid out to all shareholder of record as on February 6, 2023 on February 23, 2023. It is now going to be interesting to see if there is any heightened interest in the stock over the coming days in light of the dividend announcement. Donald Mindiak, the President and Chief Executive Officer of the bank, spoke about the performance as well.
He noted that strong growth in loan receivables and net, in addition to investment securities led to a boost in both net interest and total interest income for the bank.
