Ottawa Bancorp, Inc. Announces 2026 Third Quarter Results

(OTCQX: OTTW) Ottawa Bancorp, Inc., the holding company for OSB Community Bank, reported a net loss of $(0.1) million, or $(0.04) per basic and diluted common share, for the three months ended September 30, 2026, compared to net income of $0.4 million, or $0.18 per share, for the same period in 2025. For the nine months ended September 30, 2026, net income was $1.5 million, or $0.62 per share, compared to $1.4 million, or $0.57 per share, for the nine months ended September 30, 2025. The loan portfolio, net of allowance, increased to $313.5 million as of September 30, 2026 from $305.8 million as of December 31, 2025. Non-performing loans decreased to $1.0 million at September 30, 2026 from $1.2 million at December 31, 2025, with the ratio of non-performing loans to gross loans declining from 0.38% to 0.33%. Net interest income increased 13.6% over the third quarter of last year, and net interest margin expanded by 30 basis points to 3.39%. Total interest and dividend income was $4.6 million for the three months ended September 30, 2026, up from $4.4 million for the same period in 2025, driven by a $12.2 million increase in interest-earning assets and a 0.14% improvement in average yield to 5.34%. Interest expense was $1.7 million for the quarter, down from $1.8 million in the prior year, with the average cost of funds decreasing to 2.14% from 2.29%. Net interest income after recovery of credit losses rose by $0.4 million to $3.0 million for the quarter. Total other income was $0.4 million for the quarter, compared to $0.3 million in the prior year. The net origination (amortization) of mortgage servicing rights increased by approximately $45,000, and loan origination and servicing income increased by approximately $63,000. Total other expenses were $3.4 million for the quarter, up from $2.3 million, primarily due to a $1.1 million increase in other expenses related to higher legal, professional services, and data processing costs associated with the previously announced merger with Pontiac Bancorp, Inc. The Company recorded a recovery of approximately $51 thousand for the quarter, compared to $22 thousand in the prior year, decreasing the Allowance for Credit Losses (ACL) position. The ACL on loans was $4.0 million, or 1.26% of total gross loans, at September 30, 2026, compared to $4.2 million, or 1.35%, at December 31, 2025. Net recoveries during the third quarter of 2026 were approximately $5 thousand, compared to $6 thousand in the prior year. The required reserves on non-performing loans as of September 30, 2026 decreased by approximately $60 thousand compared to September 30, 2025. Income tax expense for the quarter was $0.1 million, compared to $0.2 million in the prior year. For the nine months ended September 30, 2026, total interest and dividend income was $13.6 million, up from $12.8 million, as interest-earning assets grew by $10.1 million and average yield improved to 5.26% from 5.15%. Interest expense was $5.0 million, down from $5.1 million, with average cost of funds declining from 2.20% to 2.11%. Net interest income for the nine months increased to $8.6 million from $7.6 million. Total other income was $1.5 million, up from $0.9 million, due primarily to a BOLI-related gain and mortgage servicing rights adjustments. Other expenses increased by $1.4 million to $8.1 million, mainly due to higher legal, professional services, and data processing expenses related to the merger with Pontiac Bancorp, Inc., and a one-time corrective adjustment to the Freddie Mac settlement account. The Company recorded a recovery of $148 thousand for the nine months, compared to $165 thousand in the prior year. Net charge-offs were approximately $44 thousand, compared to $38 thousand. Income tax expense for the nine months was approximately $653 thousand, up from $594 thousand. Total consolidated assets as of September 30, 2026 were $360.1 million, a decrease of $2.5 million from $362.6 million at December 31, 2025, primarily due to decreases in cash and cash equivalents, accrued interest receivable, premises and equipment, securities available for sale, cash surrender value of life insurance, deferred tax assets, and other assets, partially offset by increases in mortgage servicing rights and loans, net of allowance. Cash and cash equivalents decreased $7.2 million to $17.2 million. Securities available for sale decreased $2.0 million to $14.0 million. Net loans increased $7.8 million to $313.5 million, primarily due to increases in non-residential real estate, commercial, and multi-family loans, partially offset by decreases in one-to-four family and consumer loans. The ACL on loans decreased by $0.2 million. Total deposits decreased $0.5 million to $297.6 million, with certificate of deposit accounts decreasing by $15.4 million, offset by increases in savings, non-interest bearing DDA, interest bearing DDA, and money market accounts. FHLB advances totaled $15.9 million at both dates. Stockholders’ equity increased to $39.3 million, reflecting net income of $1.5 million and other items totaling $0.1 million, partially offset by a $0.5 million increase in accumulated other comprehensive loss and cash dividends of $0.75 million paid to shareholders.

Ottawa Bancorp, Inc. Announces 2026 Second Quarter Results

(OTCQX: OTTW) Ottawa Bancorp, Inc., the holding company for OSB Community Bank, announced net income of $1.0 million, or $0.42 per basic and diluted common share, for the three months ended June 30, 2026. This compares to net income of $0.5 million, or $0.21 per basic and diluted common share, for the three months ended June 30, 2025. For the six months ended June 30, 2026, the Company reported net income of $1.5 million, or $0.66 per basic and diluted common share, compared to $0.9 million, or $0.39 per basic and diluted common share, for the six months ended June 30, 2025. The loan portfolio, net of allowance, decreased to $305.3 million as of June 30, 2026 from $305.8 million as of December 31, 2025. Non-performing loans decreased to $1.1 million at June 30, 2026 from $1.2 million at December 31, 2025. The ratio of non-performing loans to gross loans decreased from 0.38% at December 31, 2025 to 0.36% at June 30, 2026.

OTTAWA BANCORP, INC.  ANNOUNCES CASH DIVIDEND

Ottawa Bancorp, Inc. (OTCQX: OTTW), the holding company for OSB Community Bank, announced that its Board of Directors has declared a quarterly cash dividend of $0.11 per share. The dividend is payable on or about June 17, 2026, to stockholders of record as of the close of business on June 3, 2026. Ottawa Bancorp, Inc. is the holding company for OSB Community Bank, which provides various financial services to individual and corporate customers in the United States. OSB Community Bank offers a range of deposit accounts and a diverse loan portfolio, including residential mortgage, commercial, and construction loans. The bank was founded in 1871 and is headquartered in Ottawa, Illinois. This dividend declaration reflects the company's ongoing commitment to returning value to shareholders. Investors are encouraged to visit www.myosb.bank for more information.

Ottawa Bancorp, Inc. Announces 2026 First Quarter Results

Ottawa Bancorp, Inc. (OTCQX: OTTW), the holding company for OSB Community Bank, reported net income of $0.6 million, or $0.26 per basic and diluted common share, for the three months ended March 31, 2026, up from $0.4 million, or $0.19 per share, for the same period in 2025. The loan portfolio, net of allowance, increased to $308.0 million as of March 31, 2026, while non-performing loans decreased to $1.0 million. Total consolidated assets were $360.8 million at March 31, 2026, a decrease of $1.7 million from December 31, 2025. The company has repurchased a total of 1,202,370 shares of its common stock at an average price of $13.68 per share. These results reflect improved net interest margin, asset quality, and continued focus on high-quality loan originations.