Published on 24 Jan 2024 on GuruFocus.com via Yahoo Finance
American National Bankshares Inc. Reports Decline in Q4 Earnings Amid Merger Expenses
Net Income: Q4 earnings of $4.0 million, a decrease from $8.0 million in Q4 2022.Earnings Per Share (EPS): Q4 EPS of $0.38, down from $0.76 in the same quarter last year.Net Interest Income: Decreased by 5.4% to $19.5 million in Q4 2023 compared to the previous quarter.Asset Quality: Nonperforming assets increased to $5.8 million as of December 31, 2023.Balance Sheet: Total assets remained flat at $3.1 billion as of December 31, 2023.
Warning! GuruFocus has detected 5 Warning Sign with AMNB.
On January 23, 2024, American National Bankshares Inc (NASDAQ:AMNB) released its 8-K filing, detailing the financial results for the fourth quarter and full year of 2023. The company, a one-bank holding company that provides a comprehensive range of financial services, reported a decrease in earnings for the fourth quarter, with net income falling to $4.0 million, or $0.38 per diluted common share, compared to $8.0 million, or $0.76 per diluted common share, in the same quarter of the previous year. The year-end earnings also saw a decline, with $26.2 million in 2023 versus $34.4 million in 2022.