Consumers Bancorp Inc. Q3 2024 10-Q Filing
Ticker: CBKM · Form: 10-Q · Filed: Nov 8, 2024 · CIK: 1006830
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
Consumers Bancorp Q3 2024 10-Q filed. Financials look steady.
AI Summary
Consumers Bancorp Inc. (OH) filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter of 2024. Key financial figures and business developments are presented within this report.
Why It Matters
This filing provides investors and analysts with the latest financial health and performance indicators for Consumers Bancorp Inc., crucial for understanding its current market position and future prospects.
Risk Assessment
Risk Level: low — The filing is a routine quarterly report and does not indicate any immediate or significant new risks.
Key Numbers
- 2024-09-30 — Reporting Period End Date (The end date for the financial data presented in the 10-Q.)
- 2024-11-08 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
- 2023-09-30 — Prior Year Period End Date (Comparison point for financial performance.)
Key Players & Entities
- CONSUMERS BANCORP INC /OH/ (company) — Filer
- 20240930 (date) — Reporting Period End Date
- 20241108 (date) — Filing Date
- MINERVA (location) — Company Headquarters City
- OH (location) — Company Headquarters State
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the quarter ended September 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on November 8, 2024.
What is the company's Standard Industrial Classification (SIC) code?
The company's SIC code is 6021, which corresponds to NATIONAL COMMERCIAL BANKS.
Where is Consumers Bancorp Inc. located?
Consumers Bancorp Inc. is located in Minerva, OH.
What fiscal year end does the company report?
The company's fiscal year ends on June 30.
Filing Stats: 4,483 words · 18 min read · ~15 pages · Grade level 19.2 · Accepted 2024-11-08 14:36:03
Filing Documents
- cbkm20240930_10q.htm (10-Q) — 2537KB
- ex_741333.htm (EX-31.1) — 12KB
- ex_741334.htm (EX-31.2) — 12KB
- ex_741335.htm (EX-32.1) — 5KB
- 0001437749-24-034178.txt ( ) — 12404KB
- cbkm-20240930.xsd (EX-101.SCH) — 53KB
- cbkm-20240930_def.xml (EX-101.DEF) — 368KB
- cbkm-20240930_lab.xml (EX-101.LAB) — 330KB
- cbkm-20240930_pre.xml (EX-101.PRE) — 400KB
- cbkm-20240930_cal.xml (EX-101.CAL) — 63KB
- cbkm20240930_10q_htm.xml (XML) — 3654KB
– Financial Information
Part I – Financial Information
– Financial Statements
Item 1 – Financial Statements Consolidated Balance Sheets at September 30, 2024 and June 30, 2024 1 Consolidated Statements of Income for the three months ended September 30, 2024 and 2023 (unaudited) 2 Consolidated Statements of Comprehensive Income for the three months ended September 30, 2024 and 2023 (unaudited) 3 Consolidated Statements of Changes in Shareholders' Equity for the three months ended September 30, 2024 and 2023 (unaudited) 4 Condensed Consolidated Statements of Cash Flows for the three months ended September 30, 2024 and 2023 (unaudited) 5 Notes to the Consolidated Financial Statements (unaudited) 6-21
– Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2 – Management's Discussion and Analysis of Financial Condition and Results of Operations 22-29
– Not Applicable for Smaller Reporting Companies
Item 3 – Not Applicable for Smaller Reporting Companies
– Controls and Procedures
Item 4 – Controls and Procedures 30
– Other Information
Part II – Other Information
– Legal Proceedings
Item 1 – Legal Proceedings 31
– Not Applicable for Smaller Reporting Companies
Item 1A – Not Applicable for Smaller Reporting Companies 31
– Unregistered Sales of Equity Securities and Use of Proceeds
Item 2 – Unregistered Sales of Equity Securities and Use of Proceeds 31
– Defaults Upon Senior Securities
Item 3 – Defaults Upon Senior Securities 31 ,
– Mine Safety Disclosure
Item 4 – Mine Safety Disclosure 31
– Other Information
Item 5 – Other Information 31
– Exhibits
Item 6 – Exhibits 31
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION
– Financial Statements
Item 1 – Financial Statements CONSUMERS BANCORP, INC. CONSOLIDATED BALANCE SHEETS (Dollars in thousands, except per share data) September 30, 2024 (unaudited) June 30, 2024 ASSETS Cash on hand and noninterest-bearing deposits in financial institutions $ 20,296 $ 17,709 Federal funds sold and interest-bearing deposits in financial institutions 6,629 14 Total cash and cash equivalents 26,925 17,723 Securities, available-for-sale 272,757 264,802 Securities, held-to-maturity (fair value of $ 5,625 at September 30, 2024 and $ 5,530 at June 30, 2024) 5,948 6,054 Equity securities, at fair value 381 381 Federal bank and other restricted stocks, at cost 2,072 2,186 Loans held for sale 2,240 908 Total loans 766,473 759,114 Less allowance for credit losses ( 7,948 ) ( 7,930 ) Net loans 758,525 751,184 Cash surrender value of life insurance 12,967 10,500 Premises and equipment, net 17,631 16,927 Goodwill 2,452 2,452 Core deposit intangible, net 343 357 Accrued interest receivable and other assets 21,612 23,615 Total assets $ 1,123,853 $ 1,097,089 LIABILITIES Deposits Noninterest-bearing demand $ 238,543 $ 225,087 Interest bearing demand 142,459 142,261 Savings 354,272 351,305 Time 263,618 254,327 Total deposits 998,892 972,980 Short-term borrowings 27,101 30,007 Federal Home Loan Bank advances 8,087 13,709 Accrued interest and other liabilities 16,472 16,708 Total liabilities 1,050,552 1,033,404 Commitments and contingent liabilities — — SHAREHOLDERS ' EQUITY Preferred stock ( no par value, 350,000 shares authorized, none outstanding) — — Common stock ( no par value, 8,500,000 shares authorized; 3,176,409 and 3,172,227 shares issued as of September 30, 2024 and June 30, 2024, respectively) 21,350 21,178 Retained earnings 73,176 71,534 Treasury stock, at cost ( 48,639 common shares as of September 30, 20