Business Bancshares, Inc. Parent Holding Company for The Business Bank of St. Louis, and The Business Bank of St. Louis Announced Fourth Quarter 2015 Financial Results
Business Bancshares Inc. and The Business Bank of St. Louis announce fourth quarter and full-year 2015 financial results. Earnings increased for the fifth consecutive year and consolidated year-to-date net income increased 24%.
St. Louis, MO, February 27, 2016 --(PR.com)-- Business Bancshares, Inc. reported net income of $1.131 million for the fourth quarter of 2015, a 2% increase compared to net income of $1.113 million for the same time period a year ago. Year-to-date earnings increased 24% to $4.837 million compared to $3.903 million a year ago. Earnings per share for 2015 increased to $1.71 from $1.41 last year.
The Company reported total assets as of December 31, 2015 of $590 million compared to $561 million a year ago. Net loans increased $39.8 million, or 10% during the same period. Total deposits increased $22 million to $508 million. Total shareholders’ equity is $61.4 million, an increase of $4.4 million from a year earlier. Capital ratios are significantly above the “well-capitalized” thresholds. Nonperforming assets as a percentage of total assets declined to 1.19%, compared to 1.34%, twelve months earlier.
The Company also announced a $0.30 per share dividend payable March 31, 2016 to shareholders of record on March 4, 2016. The $0.30 per share dividend represents an increase of 20% over the dividend paid in 2015.
“We are excited about our strong performance during 2015, which marks our fifth consecutive year of increased earnings, positions us well for continued growth and has allowed us to increase our dividend 20%,” said Larry Kirby, Chief Executive Officer and President of Business Bancshares Inc. and The Business Bank of St. Louis.
The Business Bank of St. Louis, the primary subsidiary of Business Bancshares, Inc., reported net income for the fourth quarter of 2015 of $1.199 million compared to $1.183 million during the fourth quarter of 2014. Year-to-date earnings increased to $5.119 million compared to $4.234 million last year.
Business Bancshares, Inc. is a single bank holding company and parent of The Business Bank of St. Louis. The Business Bank was founded in 2002 and operates a full service banking facility from its single location at 8000 Maryland Avenue in Clayton, Missouri.
Contact: Brian J. Leeker, Chief Financial Officer, (314) 556-6788
The Company reported total assets as of December 31, 2015 of $590 million compared to $561 million a year ago. Net loans increased $39.8 million, or 10% during the same period. Total deposits increased $22 million to $508 million. Total shareholders’ equity is $61.4 million, an increase of $4.4 million from a year earlier. Capital ratios are significantly above the “well-capitalized” thresholds. Nonperforming assets as a percentage of total assets declined to 1.19%, compared to 1.34%, twelve months earlier.
The Company also announced a $0.30 per share dividend payable March 31, 2016 to shareholders of record on March 4, 2016. The $0.30 per share dividend represents an increase of 20% over the dividend paid in 2015.
“We are excited about our strong performance during 2015, which marks our fifth consecutive year of increased earnings, positions us well for continued growth and has allowed us to increase our dividend 20%,” said Larry Kirby, Chief Executive Officer and President of Business Bancshares Inc. and The Business Bank of St. Louis.
The Business Bank of St. Louis, the primary subsidiary of Business Bancshares, Inc., reported net income for the fourth quarter of 2015 of $1.199 million compared to $1.183 million during the fourth quarter of 2014. Year-to-date earnings increased to $5.119 million compared to $4.234 million last year.
Business Bancshares, Inc. is a single bank holding company and parent of The Business Bank of St. Louis. The Business Bank was founded in 2002 and operates a full service banking facility from its single location at 8000 Maryland Avenue in Clayton, Missouri.
Contact: Brian J. Leeker, Chief Financial Officer, (314) 556-6788
Contact
The Business Bank of St. Louis
Deb Brandenberg
314-556-6627
bbstl.com
Deb Brandenberg
314-556-6627
bbstl.com
Contact
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4th Quarter 2015 Financials Business Bancshares Inc
Financial Highlights - Business Bancshares, Inc.
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