Security Midwest Bancorp 10-K: $10.33M Interest Income; $0.36 EPS
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Security Midwest Bancorp reported a total interest income of $10.333 million and a net income of $0.299 million, resulting in earnings per share of $0.36. The net interest income increased to $7.933 million, with a net interest margin of 3.92%. However, total noninterest income fell to $1.560 million, and noninterest expenses rose to $9.034 million, primarily due to pension withdrawal charges. Total assets grew by 19.6% to $256.5 million, enhancing liquidity and supporting investments in higher-yield securities. The company is focusing on expanding its lending services and improving treasury capabilities.
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