Skyline Bankshares, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2024
April 24, 2024 at 03:05 pm
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Skyline Bankshares, Inc. reported earnings results for the first quarter ended March 31, 2024. For the first quarter, the company reported net interest income was USD 8.87 million compared to USD 9.01 million a year ago. Net income was USD 2.05 million compared to USD 2.73 million a year ago.
Basic earnings per share from continuing operations was USD 0.37 compared to USD 0.49 a year ago.
Skyline Bankshares, Inc. is a bank holding company. The Company offers a wide range of retail and commercial banking services through its wholly owned bank subsidiary, Skyline National Bank (the Bank). The Bank serves the Virginia counties of Grayson, Floyd, Carroll, Wythe, Pulaski, Montgomery, Roanoke, Patrick and Washington, and the North Carolina counties of Alleghany, Ashe, Burke, Caldwell, Catawba, Cleveland, Davie, Iredell, Watauga, Wilkes, and Yadkin, and the surrounding areas through twenty seven full-service banking offices. The Bankâs loan portfolio includes commercial and agricultural production loans. The Bankâs lending services include real estate, commercial, agricultural, and consumer loans. The Bank invests a portion of its assets in United States Treasury, United States Government agency, and United States Government Sponsored Enterprise securities, state, county and local obligations, corporate and equity securities.