CIB Marine Bancshares, Inc. Announces First Quarter 2023 Results

BROOKFIELD, Wis., April 21, 2023 (GLOBE NEWSWIRE) — CIB Marine Bancshares, Inc. (the “Company” or “CIBM”) (OTCQX: CIBH), the holding company of CIBM Bank, announced its unaudited results of operations and financial condition for the first quarter ended March 31, 2023. CIBM Bank continued to show improved performance with strength in loan growth and earnings performance contributions from the Banking Division. The Mortgage Division saw an operating loss during the quarter, largely due to onboarding expenses related to the hiring of approximately 35 mortgage loan officers. Net income for the quarter was $0.2 million, or $0.17 basic and $0.13 diluted earnings per share, compared to $0.9 million, or $0.69 basic and $0.50 diluted earnings per share, for the same period of 2022.

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