Announcement • Aug 25
Mid-Southern Bancorp Files Form 15 Mid-Southern Bancorp, Inc. has announced that it has filed a Form 15 with the Securities and Exchange Commission to voluntarily deregister its common stock under the Securities Exchange Act of 1934, as amended. The par value of the company's common stock was $0.01 per share. Announcement • Aug 18
Mid-Southern Bancorp, Inc.(OTCPK:MSVB) dropped from S&P TMI Index Mid-Southern Bancorp, Inc.(OTCPK:MSVB) dropped from S&P TMI Index Announcement • Aug 03
Mid-Southern Bancorp, Inc. Announces Voluntary Nasdaq Delisting and SEC Deregistration Mid-Southern Bancorp, Inc. announced its voluntary decision to delist its common stock from The Nasdaq Stock Market LLC (‘Nasdaq’) and its intent to deregister its common stock with the Securities and Exchange Commission (‘SEC’). The Company has notified Nasdaq of its intent to voluntarily delist and withdraw the registration of its common stock with the SEC. The Company intends to file a Form 25 (Notification of Removal from Listing) with the SEC on August 14, 2023 and expects the last trading day on Nasdaq will be on August 14, 2023. Following delisting from Nasdaq, the Company expects its common stock will be quoted on the OTCQX Market beginning on August 15, 2023 and expects to retain the symbol ‘MSVB.’ The Company also intends to file a Form 15 (Certification and Notice of Termination From Registration) with the SEC on or about August 24, 2023. Upon filing, the Company’s obligation to file periodic reports with the SEC, including Forms 10-K, 10-Q and 8-K, will be suspended immediately and will terminate when deregistration becomes effective 90 days after the Form 15 is filed. The Board of Directors’ decision to delist and deregister the Company’s common stock was based on the conclusion that the significant costs and regulatory compliance burden outweigh the benefits of remaining an SEC-reporting, Nasdaq-listed company. Upcoming Dividend • Aug 03
Upcoming dividend of US$0.06 per share at 2.0% yield Eligible shareholders must have bought the stock before 10 August 2023. Payment date: 25 August 2023. Payout ratio is a comfortable 36% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of American dividend payers (4.7%). Lower than average of industry peers (3.4%). Announcement • Jul 27
Mid-Southern Bancorp, Inc. Announces Quarterly Cash Dividend, Payable on August 25, 2023 Mid-Southern Bancorp, Inc. announced that its Board of Directors declared a quarterly cash dividend of $0.06 per share on the Company's outstanding common stock. The cash dividend will be payable on August 25, 2023 to shareholders of record as of the close of business on August 11, 2023. Reported Earnings • Jul 25
Second quarter 2023 earnings released: EPS: US$0.15 (vs US$0.19 in 2Q 2022) Second quarter 2023 results: EPS: US$0.15 (down from US$0.19 in 2Q 2022). Revenue: US$2.24m (flat on 2Q 2022). Net income: US$400.0k (down 24% from 2Q 2022). Profit margin: 18% (down from 23% in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jun 17
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to US$12.72, the stock trades at a trailing P/E ratio of 19.8x. Average trailing P/E is 8x in the Banks industry in the US. Total returns to shareholders of 1.5% over the past three years. Valuation Update With 7 Day Price Move • May 08
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to US$9.75, the stock trades at a trailing P/E ratio of 16x. Average trailing P/E is 8x in the Banks industry in the US. Total loss to shareholders of 14% over the past three years. Upcoming Dividend • May 04
Upcoming dividend of US$0.06 per share at 2.2% yield Eligible shareholders must have bought the stock before 11 May 2023. Payment date: 26 May 2023. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of American dividend payers (5.1%). Lower than average of industry peers (3.8%). Reported Earnings • Mar 27
Full year 2022 earnings released: EPS: US$0.69 (vs US$0.55 in FY 2021) Full year 2022 results: EPS: US$0.69 (up from US$0.55 in FY 2021). Revenue: US$8.72m (up 5.5% from FY 2021). Net income: US$1.88m (up 17% from FY 2021). Profit margin: 22% (up from 19% in FY 2021). The increase in margin was driven by higher revenue. Net interest margin (NIM): 3.10% (up from 3.09% in FY 2021). Non-performing loans: 0.50% (down from 0.61% in FY 2021). Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 22
Full year 2022 earnings released: EPS: US$0.69 (vs US$0.55 in FY 2021) Full year 2022 results: EPS: US$0.69 (up from US$0.55 in FY 2021). Revenue: US$8.81m (up 6.5% from FY 2021). Net income: US$1.88m (up 17% from FY 2021). Profit margin: 21% (up from 19% in FY 2021). The increase in margin was driven by higher revenue. Upcoming Dividend • Feb 02
Upcoming dividend of US$0.06 per share at 1.8% yield Eligible shareholders must have bought the stock before 09 February 2023. Payment date: 24 February 2023. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of American dividend payers (4.2%). Lower than average of industry peers (6.0%). Announcement • Jan 27
Mid-Southern Bancorp, Inc. Declares Quarterly Cash Dividend, Payable on February 24, 2023 Mid-Southern Bancorp, Inc. announced that its Board of Directors declared a quarterly cash dividend of $0.06 per share on the Company's outstanding common stock. The cash dividend will be payable on February 24, 2023 to shareholders of record as of the close of business on February 10, 2023. Announcement • Dec 16
Mid-Southern Bancorp, Inc. Appoints James (Jimmy) O. King, III to the Board of Directors Mid-Southern Bancorp, Inc. announced that the Company’s Board of Directors has approved an increase in the number of members of the Board of Directors from seven to eight and has appointed James (Jimmy) O. King, III to the Board of Directors. Similar action was taken to add Mr. King to the Board of Directors of the Bank. The Company’s Corporate Governance and Nominating Committee proposed, and the Board of Directors ratified and approved, the increase in the number of directors of the Corporation from seven to eight and the appointment of Mr. King to the Board of Directors. The appointment of Mr. King to the Company’s Board of Directors is effective December 14, 2022 for a term of office to expire at the Company’s 2024 Annual Meeting. Mr. King joined the Bank as its Executive Vice President and Senior Loan Officer in October 2021. He began his career at King Southern Bank of Chaplin, Kentucky in 1994. Through the years Mr. King held various positions as he advanced to the position of President and CEO of King Southern Bank and its holding company, King Bancorp, Inc. King Bancorp, Inc. was acquired by a Louisville, Kentucky-based regional bank in 2019. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 4 highly experienced directors. Director Emeritus Paul Allemeier was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Upcoming Dividend • Nov 02
Upcoming dividend of US$0.06 per share Eligible shareholders must have bought the stock before 09 November 2022. Payment date: 25 November 2022. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of American dividend payers (4.4%). Lower than average of industry peers (6.5%). Announcement • Oct 27
Mid-Southern Bancorp, Inc. Announces a 50% Increase in its Quarterly Cash Dividend, Payable on November 25, 2022 Mid-Southern Bancorp, Inc. announced that its Board of Directors declared a quarterly cash dividend of $0.06 per share on the Company's outstanding common stock, an increase of 50% versus the prior quarterly dividend rate of $0.04 per share. The cash dividend will be payable on November 25, 2022 to shareholders of record as of the close of business on November 10, 2022. Reported Earnings • Oct 25
Third quarter 2022 earnings released: EPS: US$0.19 (vs US$0.16 in 3Q 2021) Third quarter 2022 results: EPS: US$0.19 (up from US$0.16 in 3Q 2021). Revenue: US$2.21m (up 8.3% from 3Q 2021). Net income: US$512.0k (up 12% from 3Q 2021). Profit margin: 23% (in line with 3Q 2021). Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Aug 04
Upcoming dividend of US$0.04 per share Eligible shareholders must have bought the stock before 11 August 2022. Payment date: 26 August 2022. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 1.2%. Lower than top quartile of American dividend payers (4.1%). Lower than average of industry peers (5.5%). Announcement • Jul 28
Mid-Southern Bancorp, Inc. Announces Quarterly Cash Dividend, Payable on August 26, 2022 Mid-Southern Bancorp, Inc. announced that its Board of Directors declared a quarterly cash dividend of $0.04 per share on the Company’s outstanding common stock. The cash dividend will be payable on August 26, 2022 to shareholders of record as of the close of business on August 12, 2022. Reported Earnings • Jul 26
Second quarter 2022 earnings released: EPS: US$0.19 (vs US$0.13 in 2Q 2021) Second quarter 2022 results: EPS: US$0.19 (up from US$0.13 in 2Q 2021). Revenue: US$2.29m (up 13% from 2Q 2021). Net income: US$526.0k (up 33% from 2Q 2021). Profit margin: 23% (up from 20% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Jul 26
Mid-Southern Bancorp, Inc. Reports Net Charge-Offs for the Second Quarter Ended June 30, 2022 Mid-Southern Bancorp, Inc. reported net charge-offs for the second quarter ended June 30, 2022. For the quarter, the company reported net charge-offs of $1,000. Board Change • Jun 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 4 highly experienced directors. Director Emeritus Paul Allemeier was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Upcoming Dividend • May 05
Upcoming dividend of US$0.04 per share Eligible shareholders must have bought the stock before 12 May 2022. Payment date: 27 May 2022. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of American dividend payers (3.8%). Lower than average of industry peers (5.9%). Board Change • May 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 4 highly experienced directors. Director Emeritus Paul Allemeier was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Announcement • May 02
Mid-Southern Bancorp, Inc., Annual General Meeting, May 25, 2022 Mid-Southern Bancorp, Inc., Annual General Meeting, May 25, 2022, at 13:00 US Eastern Standard Time. Location: Mid-Southern Savings Bank, FSB, located at 300 N. Water Street, Salem Indiana United States Agenda: To consider the election of two directors to each serve for a three-year term; and the ratification of the appointment of bkd, llp as its independent registered public accounting firm for the fiscal year ending December 31, 2022. Announcement • Apr 28
Mid-Southern Bancorp, Inc. Announces its Quarterly Cash Dividend, Payable on May 27, 2022 Mid-Southern Bancorp, Inc. announced that its Board of Directors declared a quarterly cash dividend of $0.04 per share on the Company’s outstanding common stock. The cash dividend will be payable on May 27, 2022 to shareholders of record as of the close of business on May 13, 2022. Reported Earnings • Mar 28
Full year 2021 earnings released: EPS: US$0.55 (vs US$0.38 in FY 2020) Full year 2021 results: EPS: US$0.55 (up from US$0.38 in FY 2020). Revenue: US$8.27m (up 15% from FY 2020). Net income: US$1.61m (up 35% from FY 2020). Profit margin: 19% (up from 17% in FY 2020). The increase in margin was driven by higher revenue. Net interest margin (NIM): 3.09% (down from 3.28% in FY 2020). Non-performing loans: 0.61% (down from 1.09% in FY 2020). Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 6% per year. Reported Earnings • Feb 24
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: US$0.55 (up from US$0.38 in FY 2020). Revenue: US$8.27m (up 15% from FY 2020). Net income: US$1.61m (up 35% from FY 2020). Profit margin: 19% (up from 17% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 5% per year. Upcoming Dividend • Feb 03
Upcoming dividend of US$0.04 per share Eligible shareholders must have bought the stock before 10 February 2022. Payment date: 25 February 2022. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of American dividend payers (3.6%). Lower than average of industry peers (3.7%). Upcoming Dividend • Nov 03
Upcoming dividend of US$0.04 per share Eligible shareholders must have bought the stock before 10 November 2021. Payment date: 26 November 2021. Trailing yield: 1.0%. Lower than top quartile of American dividend payers (3.5%). Lower than average of industry peers (3.3%). Reported Earnings • Oct 26
Third quarter 2021 earnings released: EPS US$0.16 (vs US$0.085 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$2.04m (up 17% from 3Q 2020). Net income: US$456.0k (up 73% from 3Q 2020). Profit margin: 22% (up from 15% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 9% per year. Announcement • Aug 05
Mid-Southern Bancorp, Inc. (NasdaqCM:MSVB) announces an Equity Buyback for 138,518 shares, for $2.49 million. Mid-Southern Bancorp, Inc. (NasdaqCM:MSVB) announces a share repurchase program. Under the program, the company will repurchase up to 138,518 shares, for $2.49 million. Upcoming Dividend • Aug 05
Upcoming dividend of US$0.03 per share Eligible shareholders must have bought the stock before 12 August 2021. Payment date: 27 August 2021. Trailing yield: 0.8%. Lower than top quartile of American dividend payers (3.5%). Lower than average of industry peers (3.5%). Reported Earnings • Jul 27
Second quarter 2021 earnings released: EPS US$0.13 (vs US$0.10 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were flat. Second quarter 2021 results: Revenue: US$2.03m (up 11% from 2Q 2020). Net income: US$397.0k (up 16% from 2Q 2020). Profit margin: 20% (in line with 2Q 2020). Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 9% per year, which means it is tracking significantly ahead of earnings growth. Executive Departure • Jun 04
Independent Director Charles Lamb has left the company On the 26th of May, Charles Lamb's tenure as Independent Director ended. As of March 2021, Charles still personally held 10.02k shares (US$128k worth at the time). Charles is the only executive to leave the company over the last 12 months. Upcoming Dividend • May 06
Upcoming dividend of US$0.03 per share Eligible shareholders must have bought the stock before 13 May 2021. Payment date: 28 May 2021. Trailing yield: 0.8%. Lower than top quartile of American dividend payers (3.4%). Lower than average of industry peers (3.1%). Recent Insider Transactions • May 06
Independent Director recently bought US$64k worth of stock On the 4th of May, Eric Koch bought around 4k shares on-market at roughly US$15.25 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$159k more in shares than they have sold in the last 12 months. Announcement • Apr 29
Mid-Southern Bancorp, Inc. Announces Declaration of Quarterly Cash Dividend, Payable on May 28, 2021 Mid-Southern Bancorp, Inc. announced that its Board of Directors declared a quarterly cash dividend of $0.03 per share on the Company’s outstanding common stock. The cash dividend will be payable on May 28, 2021 to shareholders of record as of the close of business on May 14, 2021. Reported Earnings • Apr 28
First quarter 2021 earnings released: EPS US$0.13 (vs US$0.12 in 1Q 2020) The company reported a soft first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2021 results: Revenue: US$1.97m (up 10% from 1Q 2020). Net income: US$378.0k (down 1.8% from 1Q 2020). Profit margin: 19% (down from 22% in 1Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Mar 31
Full year 2020 earnings released: EPS US$0.38 (vs US$0.29 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: US$7.20m (down 7.3% from FY 2019). Net income: US$1.19m (up 24% from FY 2019). Profit margin: 17% (up from 12% in FY 2019). The increase in margin was driven by lower expenses. Net interest margin (NIM): 3.28% (down from 3.73% in FY 2019). Cost-to-income ratio: 81.6% (down from 86.6% in FY 2019). Non-performing loans: 1.09% (up from 0.95% in FY 2019). Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 8% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Feb 23
Full year 2020 earnings released: EPS US$0.38 (vs US$0.29 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: US$7.25m (down 6.6% from FY 2019). Net income: US$1.19m (up 24% from FY 2019). Profit margin: 16% (up from 12% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 29
Mid-Southern Bancorp, Inc. Announces Charles W. Lamb Not Standing for Member of the Board of Directors On January 27, 2021, Charles W. Lamb, a current member of the Board of Directors of Mid-Southern Bancorp, Inc. with a term expiring at the Company's 2021 Annual Stockholder Meeting notified the Company he will not stand for re-election at the 2021 Annual Meeting. Mr. Lamb's service as a director will end effective as of the 2021 Annual Meeting. Mr. Lamb's retirement from the Board did not result from a disagreement with the Company. Is New 90 Day High Low • Jan 27
New 90-day high: US$15.83 The company is up 17% from its price of US$13.51 on 28 October 2020. The American market is also up 17% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Mortgage industry, which is up 15% over the same period. Is New 90 Day High Low • Jan 09
New 90-day high: US$15.08 The company is up 18% from its price of US$12.75 on 09 October 2020. The American market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Mortgage industry, which is up 2.0% over the same period. Is New 90 Day High Low • Dec 08
New 90-day high: US$15.00 The company is up 18% from its price of US$12.76 on 08 September 2020. The American market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Mortgage industry, which is down 3.0% over the same period. Is New 90 Day High Low • Nov 19
New 90-day high: US$13.74 The company is up 9.0% from its price of US$12.56 on 21 August 2020. The American market is up 7.0% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Mortgage industry, which is also up 9.0% over the same period. Upcoming Dividend • Nov 05
Upcoming Dividend of US$0.02 Per Share Will be paid on the 30th of November to those who are registered shareholders by the 12th of November. The trailing yield of 0.6% is below the top quartile of American dividend payers (4.6%), and is lower than industry peers (3.5%). Reported Earnings • Oct 27
Third quarter earnings released Over the last 12 months the company has reported total profits of US$1.19m, down 7.3% from the prior year. Total revenue was US$7.21m over the last 12 months, down 11% from the prior year. Is New 90 Day High Low • Oct 17
New 90-day high: US$13.01 The company is up 6.0% from its price of US$12.25 on 17 July 2020. The American market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Mortgage industry, which is up 7.0% over the same period.