NBC Bancorp Inc (OTCMKTS:NCXS) is operating as a holding company for the National Bank of Coxsackie, which gives diverse banking services and products in the United States. The firm gives savings and checking accounts, young adult and Christmas club accounts besides truck and motorcycle loans. Additionally, it gives recreational vehicle loans, camping loans, mortgages, building rehabilitation loans as well as small business loans. The firm also gives cash management, online and mobile banking services, and safe deposit boxes. Founded in 1852, the company is based in Coxsackie, New York.
On Wednesday, NCXS stock ended flat at $51 with more than 20 shares, compared to a volume of 15 shares. The stock moved within a range of $51.00 – 51.00 after opening trade at $51.
NBC Bancorp, Inc. Reports Results For Second Quarter 2022
NBC Bancorp Inc on August 3, 2022, announced results for quarter two ending June 30, 2022. The company witnessed a Net income of $1,946,594, or $4.11 per share for the first six months of the year vis-à-vis $2,161,448, or $4.57 per share in 2021. The figures include PPP fee income, and net taxes of $363,169, or $0.77 per share for the first six months as compared to $307,036, or $0.65 per share in the previous year.
NBC Bancorp’s total consolidated assets surged year-over-year by $10.7 million. Its net loans augmented by $30.5 million at $57.9 million excluding PPP balances for both periods. The asset quality at its subsidiary National Bank of Coxsackie was robust with noncurrent loans to total loans ratio of 0.11%.
Its annualized return on average assets for six-month periods ending June 30, 2022, as well as 2021, was 0.87% and 1.03%, respectively. Bancorp’s net interest margins for the six-months period ending June 30, 2022, and 2021 were 3.26% and 3.44%. The firm’s leverage ratio surged to 8.60% vis-à-vis 8.26% in the previous year.
Bancorp President and Chief Executive Officer, John A. Balli said that the company is glad to demonstrate robust results in the year. Balli added that the loan growth remains robust and asset quality metrics are exceptional. As per the CEO, the team is working hard on achieving the results.
National Bank of Coxsackie Announces New Business Development Officer
The National Bank of Coxsackie in May 2022 announced that Angela (Fereshteh) Osier had joined as the newest Business Development Officer. Osier comes with more than a decade of experience in the banking industry. Joining Berkshire Bank, Osier was a Branch Manager in the Malta area. Her experience before Berkshire Bank includes positions at Citizens Bank and Key Bank.
Osier expressed excitement about joining the National Bank of Coxsackie’s Business Development team. She further said that she is looking forward to developing client relationships as well as supporting growth in Capital Region.
National Bank of Coxsackie CEO John A. Balli said that the growth potential is incredible. Balli added that he is looking forward to working with a formidable team for helping serve the Capital Region’s financial needs. The National Bank of Coxsackie has been a reliable bank for thousands of clients having clients ranging from Coxsackie to Glenmont.