Lyons Bancorp, Inc., parent company of The Lyons National Bank, reported $15.5 million in earnings for 2024, an 11% drop from its record $17.4 million in 2023. Per-share earnings fell from $4.90 to $4.38, but the Board of Directors increased the quarterly dividend to 40 cents per share.
Despite economic challenges, CEO Thomas Kime highlighted strong financial performance, improving trends, and a solid outlook for 2025. Year-end assets rose to $1.92 billion, driven by a $150 million increase in deposits and $90 million loan growth. Off-balance-sheet loans also grew by 14% to $609 million.
Loan quality remained strong, with charge-offs below 0.3%. With a solid balance sheet and improving net interest margins, LNB expects continued growth in 2025.
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