SBAZ State Bank Corp. featured news, full reports, and detailed charts
State Bank Corp. (SBAZ/SBAZ.OB) Wrap Up:
State Bank Corp. operates as the holding company for Mohave State Bank that offers various banking services in Arizona, the United States. The company provides deposit and loan products, and online banking to individuals, businesses, and professionals. It offers various checking and savings deposit products, and certificates of deposit to individuals and businesses. The company’s personal loan products include automobile loans, home improvement/equity loans, overdraft protection, and construction loans. Its commercial loan products include term loans, lines of credit, SBA loans, commercial real estate loans, and commercial equipment leasing. State Bank Corp. also offers IRA's, home mortgages...www.mohavestbank.com
93 Employees
Founded in 1991
State Bank Corp. (SBAZ:OTC Bulletin Board Market)
LAST $6.00 USD
CHANGE TODAY 0.00 0.00%
VOLUME 0.0
As of November 18, 2009 All times are local (Market data by Reuters is delayed by at least 15 minutes).
Snapshot of State Bank Corp. (SBAZ)
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OPEN
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PREVIOUS CLOSE
$6.00
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DAY HIGH
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DAY LOW
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52 WEEK HIGH
11/19/08 - $13.75
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52 WEEK LOW
10/2/09 - $2.50
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MARKET CAP
21.4M
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AVERAGE VOLUME 3 mo
854.0
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DILUTED EPS TTM
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SHARES OUTSTANDING
3.6M
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EX-DATE
03/20/09
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P/E TTM
NM
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DIVIDEND
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DIVIDEND YIELD
0.00%
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SBAZ Top Compensated Officers
No compensation data is available at this time for the top officers at this company.
Executives, Board Directors
Key developments for State Bank Corp. (SBAZ)
State Bank Corp. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2009
10/23/2009
State Bank Corp. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported net income of $236,000 or $0.06 per diluted share on net interest income of $3,165,000 compared to net income of $621,000 or $0.16 per diluted share on net interest income of $3,981,000 for the same period of 2008. Income before income taxes was $363,000 compared to $957,000 for the same period of last year. Total interest income was $4,602,000 compared to $5,706,000 for the same period of last year. Book value as on date was $8.95 per share compared to $9.54 per share for the same period of last year. Return on average assets was 0.25% compared to 0.68% for the same period of last year. Return on average equity was 2.74% compared to 6.77% for the same period of last year. For the nine months, the company reported net operating loss of $1,752,000 or $0.45 per diluted share on net interest income of $9,576,000 compared to net income of $2,930,000 or $0.76 per diluted share on net interest income of $11,610,000 for the same period of 2008. Loss before income taxes was $2,696,000 compared to income before income taxes of $957,000 for the same period of last year. Total interest income was $13,967,000 compared to $17,195,000 for the same period of last year.
State Bank Corp. Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2009
08/1/2009
State Bank Corp. reported unaudited earnings results for the second quarter and six months ended June 30, 2009. For the quarter, the company reported net interest income of $3,242,000, loss before income taxes of $1,462,000, net loss of $950,000 or $0.25 diluted per share on total interest income of $4,693,000 against net interest income of $3,897,000, income before income taxes of $1,888,000, net income of $1,245,000 or $0.32 diluted per share on total interest income of $5,628,000 for the same period a year ago. For the six months, the company reported net interest income of $6,411,000, loss before income taxes of $3,059,000, net loss of $1,988,000 or $0.51 diluted per share on total interest income of $9,365,000 against net interest income of $7,536,000, income before income taxes of $3,552,000, net income of $2,309,000 or $0.60 diluted per share on total interest income of $11,396,000 for the same period a year ago. The net operating losses incurred in the second quarter and for the six months of 2009 were primarily attributable to provisions for loan losses of $2.9 million and $5.5 million, respectively. Pre-tax operating income was $2.44 million for the six months ended June 30, 2009 as compared to $3.88 million in the same period of 2008. The decrease in pre-provision, pre-tax operating income in the second quarter and year-to-date decrease is primarily attributable to lower net interest income resulting from an increase in nonperforming assets.
State Bank Corp. Reports Earnings Results for the First Quarter Ended March 31, 2009
04/30/2009
State Bank Corp. reported earnings results for the first quarter ended March 31, 2009. For the quarter, the bank announced a net operating loss of $1.04 million, or $0.27 per diluted share as compared to net income of $1.06 million, or $0.28 per diluted share, for the same period of 2008. The net operating loss in 2009 is primarily attributable to a $2.5 million increase in the provision for loan losses. Total revenue, consisting of net interest income and noninterest income, was $3.68 million in the first quarter of 2009, down $430,000, or 10.5%, from $4.11 million in the first quarter of 2008. This decrease was primarily attributable to lower net interest income. During the first quarter of 2009, net interest income was $3.17 million, which represented a decrease of $470,000, or 12.9%, from $3.64 million reported in the same period of 2008. Income before income taxes for the quarter was $1.596 million against $1.664 million for the same quarter last year.
SBAZ Competitors
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Industry Analysis
| Valuation | SBAZ | Industry Range |
| Price/Earnings | NM | Not Meaningful |
| Price/Sales | 3.7x |
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| Price/Book | 0.7x |
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| Price/Cash Flow | -- | Not Meaningful |
| TEV/Sales | -- | Not Meaningful |
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More Recent News About State Bank Corp.
More news for SBAZ
State Bank Corp Reports Third Quarter Results
LAKE HAVASU CITY, Ariz., Oct. 23, 2009 (GLOBE NEWSWIRE) -- State Bank Corp. (OTCBB:SBAZ - News) ("Company"), the holding company for Mohave State Bank ("Bank"), announced net income of $236,000, or $0.06 per diluted share, for the third quarter of 2009 as compared to net income of $621,000, or $0.16 per diluted share, for the same period of 2008. The Company's net operating loss for the nine months ended September 30, 2009 was $1.75 million, or $0.45 per diluted share, as compared to net income of $2.93 million, or $0.76 per diluted share, for the same period of 2008. Third quarter 2009 highlights include: * Continued growth in deposits -- The Company experienced a $17.0 million, or 11.0 percent, increase in deposits during the third quarter of 2009. Since December 2008, total deposits have increased $43.2 million, or 16.4 percent. * Reduction in FHLB borrowing -- The Company retired another $8.0 million, or 47.1 percent, of its remaining advances from the Federal Home Loan Bank during the past quarter. Since December 2008, the Company has retired $36.1 million, or 81.2 percent of its total FHLB borrowing. * Improvement in primary liquidity measures -- Continued deposit growth and moderation in lending have reduced the Company's loan to deposit ratio to 84.0 percent at September 30, 2009 from a peak of 117.5 percent at September 30, 2008. * Stabilization of asset quality -- For the first time in four quarters, net loan charge-offs decreased. Net loan charge-offs ...Click here to read the whole Article (external link)
Mohave State Bank Appoints Carolyn M. Bruce
LAKE HAVASU CITY, Ariz., Aug. 13, 2009 (GLOBE NEWSWIRE) -- Mohave State Bank ("Bank"), a subsidiary of State Bank Corp. (OTCBB:SBAZ - News; "Company"), today announced the appointment of Carolyn M. Bruce to serve as a member of its Lake Havasu City Community Board. After a successful home health care career in Illinois, Ms. Bruce moved to Lake Havasu City in 1994 to establish Xanadu Management, a real estate management firm. Today, Ms. Bruce manages over 50 residential properties through her various companies. Ms. Bruce holds a Bachelors of Science in Education from Indiana University and a Masters in Health Care Administration from Central Michigan University. "We are delighted to welcome Carolyn Bruce to the Lake Havasu Community Board. Carolyn has been a passionate advocate for both Mohave State Bank and the City of Lake Havasu. Her leadership within the community is an example for us all," stated Brian M. Riley, Chief Executive Officer. Over the past 15 years, Ms. Bruce has been active in the local business community holding several leadership positions in Lake Havasu. Currently, Ms. Bruce serves as Vice Chairman of the Lake Havasu Convention and Visitors Bureau, Secretary of Havasu Foundation for Higher Education and Treasurer of Lake Havasu City Referrals Club. Ms. Bruce served on the Lake Havasu City Council from 2003 to 2004. The Lake Havasu City Community Board is an advisory group of business professionals who serve as ambassadors for Mohave State Bank within the community and provide...Click here to read the whole Article (external link)
State Bank Corp Reports First Quarter Results
LAKE HAVASU CITY, Ariz., April 30, 2009 (GLOBE NEWSWIRE) -- State Bank Corp. (OTCBB:SBAZ - News; "Company"), the holding company for Mohave State Bank ("Bank"), announced a net operating loss of $1.04 million, or $0.27 per diluted share, for the first quarter of 2009 as compared to net income of $1.06 million, or $0.28 per diluted share, for the same period of 2008. The net operating loss in 2009 is primarily attributable to a $2.5 million increase in the provision for loan losses. As a precaution against further real estate loan weakness, the Company added $2.6 million to the loss reserve in the first quarter of 2009 as compared to $130,000 in the same period of 2008. First quarter 2009 highlights include: * Continued growth in deposits -- The Company experienced a $20.8 million, or 7.9 percent, increase in deposits during the first quarter of 2009. * Reduction in FHLB borrowing -- The Company retired $19.1 million, or 43.3 percent, of its advances from the Federal Home Loan Bank during the past quarter. * Improvement in primary liquidity measures -- With continued deposit growth and moderation in lending activity, the Company's loan to deposit ratio fell to 100.6 percent at March 31, 2009 from a peak of 117.5 percent at September 30, 2008. * Increase in noninterest income -- Noninterest income increased by $66,000, or 15 percent, in the first quarter 2009 to $506,000, or 13.8 percent of total revenue, as compared to $440,000, or 10.8 percent of revenue for the fourth qu...Click here to read the whole Article (external link)
Mohave State Bank Appoints CEO and President
LAKE HAVASU CITY, Ariz., April 1, 2009 (GLOBE NEWSWIRE) -- Mohave State Bank, subsidiary of State Bank Corp. (OTC BB:SBAZ.OB - News), today announced the appointment of Brian M. Riley as Chief Executive Officer and Brad D. Payne as President. Mr. Riley joined the Bank in April 2008 as Executive Vice President and Chief Financial Officer. During his twenty-five year banking career, Mr. Riley has served as Vice Chairman and CEO of Harbor Bank and Trust (in organization) in Southport, CT; President and CEO of PriVest Bank in Santa Ana, CA; Senior Vice President and Chief Financial Officer of Provident Savings Bank in Riverside, CA; and Executive Vice President & Chief Financial Officer of Metro Commerce Bank in San Rafael, CA. Mr. Riley began his banking career at Citizens Business Bank in Ontario, CA where he last served as Vice President of Finance & Accounting. Mr. Riley holds a Bachelor of Science degree in Finance from California State Polytechnic University and a Masters of Business Administration from California Baptist University. Mr. Riley is also a graduate of both the Southeastern Commercial Lending and Advanced Commercial Lending Schools at Vanderbilt University.Mr. Payne joined the Bank in March 2008 as Executive Vice President and Chief Credit Officer. During his twenty-three year banking career, Mr. Payne has served as the Division President for Bank of the Ozarks in Russellville, AR; Market President for Regions Bank in Russellville, AR; Vice President and Commercial Lending Officer at Chambers Bank in ...Click here to read the whole Article (external link)
State Bank Corp. Announces CEO Retirement and Suspension of Cash Dividend
LAKE HAVASU CITY, Ariz., March 20, 2009 (GLOBE NEWSWIRE) -- State Bank Corp. (OTC BB:SBAZ.OB - News), the holding company for Mohave State Bank, today announced the retirement of its President & CEO, Ralph E. Tapscott. Mr. Tapscott announced his retirement at the Company's Annual Meeting of Shareholders held on March 19, 2009. The retirement is effective March 31, 2009. ``We want to thank Ralph for his leadership during the past seven years. He guided us through one of the most significant growth periods in the Bank's history. We wish him well in all of his future endeavors,'' commented James E. Baker, Chairman of the Board. A successor to Mr. Tapscott will be announced by the Board of Directors in the next few weeks. The Board of Directors also announced at the Annual Meeting of Shareholders that it will be suspending the payment of the $0.10 per share quarterly cash dividend. ``With all of the current economic challenges, maintaining capital is absolutely critical to ongoing success. In recent quarters, the Company has experienced higher nonperforming assets and, as a result, an increased level of loan loss provisions. While the Company has slowed growth to maintain capital at a more than a ''well-capitalized`` level, the Board of Directors of State Bank Corp. believes it is necessary and prudent to suspend the payment of cash dividends until such time as the Company is able to generate sufficient earnings to support its current loan loss provisioning and ongoing capital needs,'' commented James E. Baker, Chairman of the...Click here to read the whole Article (external link)
State Bank Corp Reports Second Quarter Results
LAKE HAVASU CITY, Ariz., July 31, 2009 (GLOBE NEWSWIRE) -- State Bank Corp. (OTCBB:SBAZ - News; "Company"), the holding company for Mohave State Bank ("Bank"), announced a net operating loss of $950,000, or $0.25 per diluted share, for the second quarter of 2009 as compared to net income of $1.25 million, or $0.32 per diluted share, for the same period of 2008. The Company's net operating loss for the six months ended June 30, 2009 was $1.99 million, or $0.51 per diluted share, as compared to net income of $2.31 million, or $0.60 per diluted share, for the same period of 2008. The net operating losses incurred in the second quarter and for the six months of 2009 were primarily attributable to provisions for loan losses of $2.9 million and $5.5 million, respectively. Excluding the impact of loan loss provisions, pre-tax operating income was $1.44 million in the second quarter 2009 as compared to $2.08 million in the same period of 2008. Pre-tax operating income was $2.44 million for the six months ended June 30, 2009 as compared to $3.88 million in the same period of 2008. The decrease in pre-provision, pre-tax operating income in the second quarter and year-to-date decrease is primarily attributable to lower net interest income resulting from an increase in nonperforming assets. Second quarter 2009 highlights include: * Continued growth in deposits -- The Company experienced a $5.4 million, or 1.9 percent, increase in deposits during the second quarter of 2009. Since December 2008, total deposits h...Click here to read the whole Article (external link)
State Bank Corp Reports First Quarter Results
LAKE HAVASU CITY, Ariz., April 30, 2009 (GLOBE NEWSWIRE) -- State Bank Corp. (OTCBB:SBAZ - News; "Company"), the holding company for Mohave State Bank ("Bank"), announced a net operating loss of $1.04 million, or $0.27 per diluted share, for the first quarter of 2009 as compared to net income of $1.06 million, or $0.28 per diluted share, for the same period of 2008. The net operating loss in 2009 is primarily attributable to a $2.5 million increase in the provision for loan losses. As a precaution against further real estate loan weakness, the Company added $2.6 million to the loss reserve in the first quarter of 2009 as compared to $130,000 in the same period of 2008. First quarter 2009 highlights include: * Continued growth in deposits -- The Company experienced a $20.8 million, or 7.9 percent, increase in deposits during the first quarter of 2009. * Reduction in FHLB borrowing -- The Company retired $19.1 million, or 43.3 percent, of its advances from the Federal Home Loan Bank during the past quarter. * Improvement in primary liquidity measures -- With continued deposit growth and moderation in lending activity, the Company's loan to deposit ratio fell to 100.6 percent at March 31, 2009 from a peak of 117.5 percent at September 30, 2008. * Increase in noninterest income -- Noninterest income increased by $66,000, or 15 percent, in the first quarter 2009 to $506,000, or 13.8 percent of total revenue, as compared to $440,000, or 10.8 percent of revenue for the fourth qu...Click here to read the whole Article (external link)
State Bank Corp. Reports Fourth Quarter and 2008 Results
LAKE HAVASU CITY, Ariz., Feb. 2, 2009 (GLOBE NEWSWIRE) -- State Bank Corp. (OTC BB:SBAZ.OB - News), the holding company for Mohave State Bank (``Bank''), announced net income for 2008 of $2.34 million, or $0.61 per diluted share, as compared to $5.52 million, or $1.42 per diluted share, in 2007. The decrease is primarily attributable to an $826,000 drop in net interest income and a $3.95 million increase in the provision for loan losses. During the fourth quarter of 2008, the Company reported a net operating loss of ($594,000), or ($0.15) per diluted share, as compared to net income of $1.29 million, or $0.33 per diluted share, in the same period of 2007. The quarterly loss was primarily attributable to an increase in the Company's provision for loan losses to $3.0 million in the fourth quarter of 2008 in response to rising nonperforming assets and continued softening of economic and credit environment conditions. * Continued success of the Certificate of Deposit Account Registry Service ("CDARS") product - CDARS accounted for $33.5 million, or 12.7 percent of total deposits, at December 31, 2008. The CDARS product has been helpful in retaining large key relationships given recent depositor concern over FDIC insurance maximization. * Moderation of loan growth - Total loans decreased $9.7 million, or 3.4 percent, during the fourth quarter. The Company took steps to curb loan growth in order to bolster sources of balance sheet liquidity. * Growth in deposits - Deposits increased $10.8 million, or 4...Click here to read the whole Article (external link)
State Bank Corp. Declares Cash Dividend
LAKE HAVASU CITY, Ariz., Dec. 20, 2008 (GLOBE NEWSWIRE) -- State Bank Corp. (OTC BB:SBAZ.OB - News), the holding company for Mohave State Bank, today announced the declaration of its fourth quarter cash dividend to shareholders. The Board of Directors of State Bank Corp. declared a quarterly cash dividend of $0.10 per share payable to shareholders of record on January 9, 2009. The dividend will be paid on or about January 22, 2009. About the CompanyState Bank Corp., headquartered in Lake Havasu City, Arizona, is the parent company of Mohave State Bank, the largest locally-owned bank in Mohave County, with $368 million in assets as of September 30, 2008. Mohave State Bank is a full-service bank providing deposit and loan products, and convenient on-line banking to individuals, businesses and professionals. The Bank was established in October 1991, and the holding company was formed in 2004. The Bank has six full-service branches: two in Lake Havasu City, two in Kingman, one in Bullhead City, and one in Yuma, Arizona. The Company is traded over-the-counter as SBAZ. For further information, please visit the web site: http://www.mohavestbank.com.This press release may include forward-looking statements about the corporation for which the corporation claims the protection of safe harbor provisions contained in the Private Se...Click here to read the whole Article (external link)
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