Q1 2020 Press Release

Coeur d’Alene Bancorp Announces Its First Quarter 2020 Results

Coeur d’Alene, Idaho: Coeur d’Alene Bancorp (OTC Pink: CDAB), the parent company of bankcda, is pleased to announce our quarterly results for the first quarter 2020.

Coeur d’Alene Bancorp reported net earnings of $242,160 or $0.13 per share for the first quarter of 2020, compared to net income of $332,380 or $0.25 per share for the first quarter of 2019.

“Earnings declined compared prior periods due, in part, to net interest margin compression that resulted from five interest rate cuts in seven months. Increased operating expenses incurred during the quarter reflect expansion into the Post Falls market, investments made in acquiring key talent, and our upcoming core conversion all in effort to position ourselves for continued growth,” said Wes Veach, President and Chief Executive Officer.

“Prior to the COVID-19 pandemic, our local economy was strong and our balance sheet was expanding as supported by deposit growth of 4.75% during the quarter. Loan growth continues to be a challenge due to increased competition driven by the low rate environment. We have had success developing new customer relationships; however, loan growth has been impacted by loan payoffs. In response to the recent interest rate cuts, we increased our investment portfolio in an effort to increase yields and substantially cut deposit rates.

“Moving forward, we continue to maintain a strong core deposit base which allows us to manage our interest costs and maintain our strong liquidity position. Our capital position continues to be well above the temporary 8% minimum set by our primary regulators. In March, Congress passed the CARES Act creating the Paycheck Protection Program (PPP) to assist small business by offering short term loans that are 100% guaranteed by the Small Business Administration. To date, we have processed $20 million in requests to assist businesses in our community. Adding PPP loans to our balances sheet will provide increased yield over our current mix, as well as, provide fee income.”


  • Diluted earnings per share of $0.13 for three months ended 2020 versus $0.25 for three months ended 2019.
  • Return on average assets (ROAA) was 0.67% and return on average equity (ROAE) was 5.43% for the three months ended 2020 compared to 1.05% and 11.07%, respectively, for the three months ended 2019.
  • Net book value per share increased to $9.66, compared to $9.05 from one year ago.
  • Total assets ended the quarter at $145.0 million, compared to $127.9 million as of March 31, 2019, an increase of 13.36%. Total assets increased $4.35 million from $140.7 million as of December 31, 2019
  • Total deposits ended the quarter at $126.6 million, compared to $114.0 million as of March 31, 2019, a 10.98% increase. Non-Interest-bearing deposits increased 3.61% year-over-year and 1.87% in the first quarter.
  • Gross loan were $74.8 million at quarter end, versus $72.6 million at March 31, 2019, and $75.9 million at December 31, 2019
  • The bank continues to be FIVE Star-rated from Bauer Financial, which is their highest rating.
  • All capital ratios continue to exceed regulatory minimums.

Coeur d’Alene Bancorp, the parent company of bankcda, is headquartered in Coeur d’Alene, Idaho with branches in Coeur d’Alene, Hayden, Post Falls and Kellogg, Idaho.

For more information visit www.bankcda.com or Contact Wes Veach at 208-415-5006.