Coeur d'Alene Bancorp: Navigating Growth and Challenges in 2024

Coeur d'Alene Bancorp (OTC Pink:CDAB), the parent company of bankcda, recently announced its financial results for the fourth quarter and the year ended December 31, 2024. The company reported net income of $452,990 or $0.24 per share for the fourth quarter, compared to $563,908 or $0.30 for the same period in 2023. For the full year, net income was $1,475,207 or $0.78 per share, down from $2,118,568 or $1.12 per share in 2023. All results are unaudited.

As of December 31, 2024, total consolidated assets were $241.4 million, an increase of $3.1 million or 1.3% compared to the same period in 2023. Gross loans ended the period at $133.9 million, up from $119.0 million in 2023, representing a 12.6% increase. Total deposits were $195.5 million, up slightly from $195.1 million in 2023, a 0.2% increase.

"Despite the challenges of the elevated interest rate environment and competition for deposits, we were able to maintain our deposit levels while lowering our funding costs in the second half of the year, allowing us to increase our net interest margin," said Wes Veach, President and Chief Executive Officer of Coeur d'Alene Bancorp. "Loan demand remained strong for a majority of the year, resulting in our third straight year of loan growth greater than 10%. The investment in our future growth in the Spokane market reduced our earnings for 2024, as we opened a loan origination office in Spokane Valley, and will be opening a retail branch this month on 5-Mile Road."

Financial highlights for the year ended December 31, 2024, include:

* Diluted earnings per share of $0.77, down from $1.11 per share in 2023.
* Net book value per share of $12.36, up from $10.89 in 2023.
* Annualized return on average assets (ROAA) of 0.62%, down from 0.89% in 2023.
* Annualized return on average equity (ROAE) of 6.77%, down from 11.48% in 2023.
* Net interest margin of 3.27% for the twelve months ended December 31, 2024, down from 3.38% in 2023.
* Nonperforming assets to Tier 1 capital of 0.00% as of December 31, 2024.

Coeur d'Alene Bancorp continues to be FIVE Star-rated from Bauer Financial, which is their highest rating, and far exceeds the minimum Community Bank Leverage Ratio.




In conclusion, Coeur d'Alene Bancorp's 2024 results reflect a challenging year marked by elevated interest rates and increased competition for deposits. Despite these headwinds, the company managed to maintain its deposit levels, increase its net interest margin, and achieve its third consecutive year of loan growth greater than 10%. The expansion into the Spokane market, while reducing earnings in 2024, is expected to pay off in the long run as the company expands its customer base and increases its lending activity. With strong asset quality and a FIVE Star rating from Bauer Financial, Coeur d'Alene Bancorp is well-positioned to continue its growth trajectory in 2025.