Cortland Bancorp (CLDB) Income Statement Analysis

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Complete financial analysis of Cortland Bancorp (CLDB) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of Cortland Bancorp, a leading company in the Banks – Regional industry within the Financial Services sector.

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Cortland Bancorp (CLDB)

Industry: Banks - Regional

Sector: Financial Services

Website: http://www.cortlandbank.com

About Cortland Bancorp

Cortland Bancorp, Inc. is a bank holding company, which provides commercial and retail banking services through its subsidiary, The Cortland Savings and Banking Company. The company is headquartered in Cortland, Ohio and currently employs 144 full-time employees. The firm's principal activity is to own, manage and supervise The Cortland Savings and Banking Company (Cortland Banks or the Bank). The firm operates through the commercial banking segment. The Bank is a state chartered bank engaged in commercial and retail banking. The Bank's services include checking accounts, savings accounts, time deposit accounts, commercial, mortgage and installment loans, night depository, automated teller services, safe deposit boxes and other miscellaneous services. The Bank provides brokerage and investment services through an arrangement with Investment Professionals, Inc. Under this arrangement, financial advisors offer customers a range of investment products and services, such as estate planning, annuities, life insurance, fixed income, and equity securities and equity research and recommendations. The Bank, through Investment Professionals, Inc., also offers asset management services to customers.

Metric	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996	1995	1994
Revenue	30.78M	29.11M	29.06M	25.47M	24.23M	22.42M	21.91M	19.55M	21.26M	20.14M	19.55M	18.09M	17.24M	18.10M	17.75M	18.04M	18.11M	18.62M	19.61M	18.70M	18.59M	17.60M	2.57M	1.69M	1.60M	1.31M	1.17M
Cost of Revenue	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	30.78M	29.11M	29.06M	25.47M	24.23M	22.42M	21.91M	19.55M	21.26M	20.14M	19.55M	18.09M	17.24M	18.10M	17.75M	18.04M	18.11M	18.62M	19.61M	18.70M	18.59M	17.60M	2.57M	1.69M	1.60M	1.31M	1.17M
Gross Profit Ratio	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
General & Administrative	11.25M	11.54M	10.69M	11.08M	10.67M	9.62M	9.46M	10.24M	9.00M	8.84M	8.47M	9.63M	7.16M	7.20M	6.78M	7.05M	6.72M	6.59M	6.80M	6.28M	6.09M	6.05M	0.00	0.00	0.00	0.00	0.00
Selling & Marketing	214.00K	388.00K	322.00K	478.00K	527.00K	454.00K	0.00	0.00	0.00	0.00	77.00K	195.00K	0.00	0.00	0.00	245.00K	182.00K	177.00K	161.00K	160.00K	314.00K	249.00K	282.00K	256.00K	265.00K	255.00K	229.00K
SG&A	11.46M	11.93M	11.01M	11.56M	11.20M	10.07M	9.46M	10.24M	9.00M	8.84M	8.55M	9.82M	7.16M	7.20M	6.78M	7.30M	6.90M	6.76M	6.96M	6.44M	6.40M	6.30M	282.00K	256.00K	265.00K	255.00K	229.00K
Other Expenses	-7.70M	14.07M	11.99M	10.44M	9.80M	8.93M	10.54M	10.77M	13.00M	10.16M	10.45M	13.18M	19.84M	19.80M	17.22M	13.70M	-11.17M	-10.40M	-9.24M	-4.05M	-3.94M	-4.99M	16.85M	17.83M	16.81M	14.49M	12.50M
Operating Expenses	3.77M	26.00M	23.00M	22.00M	21.00M	19.00M	20.00M	21.00M	22.00M	19.00M	19.00M	23.00M	27.00M	27.00M	24.00M	21.00M	-4.27M	-3.64M	-2.28M	2.40M	2.46M	1.31M	17.13M	18.08M	17.08M	14.74M	12.73M
Cost & Expenses	3.77M	26.00M	23.00M	22.00M	21.00M	19.00M	20.00M	21.00M	22.00M	19.00M	19.00M	23.00M	27.00M	27.00M	24.00M	21.00M	-4.27M	-3.64M	-2.28M	2.40M	2.46M	1.31M	17.13M	18.08M	17.08M	14.74M	12.73M
Interest Income	27.02M	29.51M	27.60M	23.36M	22.44M	20.99M	20.54M	19.93M	20.88M	20.98M	21.71M	23.45M	27.56M	28.99M	26.50M	23.59M	22.29M	22.91M	26.91M	29.80M	30.79M	28.37M	28.72M	28.38M	27.08M	24.81M	22.56M
Interest Expense	3.81M	5.55M	4.38M	3.19M	2.92M	2.61M	2.88M	3.40M	4.07M	4.73M	6.37M	9.23M	12.18M	13.99M	11.58M	8.67M	8.01M	8.13M	10.00M	13.82M	14.14M	12.39M	13.04M	13.35M	12.74M	11.42M	9.50M
Depreciation & Amortization	2.75M	2.24M	2.32M	2.74M	2.77M	2.53M	2.47M	3.22M	3.06M	2.41M	1.81M	808.00K	758.00K	775.00K	991.00K	1.47M	2.18M	2.38M	1.35M	1.27M	1.16M	1.46M	1.40M	1.38M	1.46M	1.55M	1.67M
EBITDA	16.30M	16.44M	16.95M	12.69M	11.69M	10.74M	10.12M	8.50M	9.89M	12.41M	12.07M	-448.00K	15.58M	20.22M	18.08M	15.43M	16.02M	17.37M	18.67M	22.37M	22.21M	20.37M	21.10M	21.16M	20.14M	17.61M	15.57M
EBITDA Ratio	52.94%	56.47%	58.32%	49.84%	48.22%	47.91%	46.19%	43.45%	46.49%	61.61%	61.72%	-2.48%	90.34%	111.74%	101.84%	85.52%	88.46%	93.26%	95.22%	119.61%	119.47%	115.72%	821.81%	1,249.68%	1,260.33%	1,343.02%	1,328.50%
Operating Income	23.32M	14.20M	14.63M	9.96M	8.92M	8.20M	7.66M	5.28M	6.83M	10.00M	10.26M	-1.26M	14.82M	19.45M	17.09M	13.96M	13.84M	14.99M	17.33M	21.10M	21.05M	18.91M	19.70M	19.78M	18.68M	16.06M	13.90M
Operating Income Ratio	75.77%	48.76%	50.36%	39.10%	36.79%	36.60%	34.94%	26.98%	32.10%	49.64%	52.48%	-6.94%	85.95%	107.46%	96.26%	77.38%	76.44%	80.47%	88.36%	112.82%	113.23%	107.43%	767.21%	1,168.04%	1,168.77%	1,224.64%	1,186.18%
Total Other Income/Expenses	-13.59M	-5.55M	-4.38M	-3.19M	-2.92M	-2.61M	-2.88M	-3.40M	-4.07M	-4.73M	-6.37M	-9.23M	-12.18M	-13.99M	-11.58M	-8.67M	-8.01M	-8.13M	-10.00M	-13.82M	-14.14M	-12.39M	-13.04M	-13.35M	-12.74M	-11.42M	-9.50M
Income Before Tax	9.73M	8.64M	10.25M	6.77M	6.00M	5.60M	4.77M	1.87M	2.76M	5.27M	3.89M	-10.49M	2.64M	5.46M	5.50M	5.29M	5.83M	6.86M	7.32M	7.27M	6.92M	6.52M	6.66M	6.43M	5.94M	4.63M	4.40M
Income Before Tax Ratio	31.62%	29.68%	35.27%	26.57%	24.75%	24.97%	21.78%	9.57%	12.96%	26.14%	19.91%	-58.00%	15.32%	30.18%	31.01%	29.34%	32.21%	36.81%	37.34%	38.90%	37.20%	37.03%	259.38%	379.68%	371.46%	353.47%	375.77%
Income Tax Expense	1.47M	1.36M	1.42M	2.42M	1.13M	1.22M	902.00K	88.00K	-158.00K	1.19M	621.00K	-4.16M	288.00K	1.11M	928.00K	957.00K	990.00K	1.37M	1.58M	1.73M	1.81M	1.66M	1.85M	1.97M	1.83M	1.35M	1.32M
Net Income	8.26M	7.28M	8.84M	4.35M	4.87M	4.38M	3.87M	1.78M	2.91M	4.07M	3.27M	-6.34M	2.35M	4.35M	4.58M	4.33M	4.84M	5.48M	5.74M	5.55M	5.11M	4.86M	4.82M	4.45M	4.11M	3.29M	3.08M
Net Income Ratio	26.84%	25.01%	30.40%	17.08%	20.10%	19.53%	17.66%	9.12%	13.70%	20.22%	16.73%	-35.03%	13.65%	24.04%	25.78%	24.03%	26.74%	29.45%	29.29%	29.66%	27.48%	27.62%	187.54%	263.08%	257.20%	250.88%	263.05%
EPS	1.97	1.68	2.04	0.98	1.10	0.99	0.85	0.39	0.64	0.90	0.72	-1.40	0.52	0.95	0.99	0.95	1.08	1.20	1.25	1.19	1.10	1.04	1.04	2.95	2.87	2.42	2.30
EPS Diluted	1.97	1.68	2.04	0.98	1.10	0.99	0.85	0.39	0.64	0.90	0.72	-1.40	0.52	0.95	0.99	0.95	1.08	1.20	1.24	1.19	1.10	1.04	1.04	2.95	2.87	2.42	2.30
Weighted Avg Shares Out	4.19M	4.32M	4.33M	4.42M	4.42M	4.41M	4.53M	4.57M	4.53M	4.53M	4.53M	4.53M	4.54M	4.57M	4.62M	4.55M	4.48M	4.56M	4.61M	4.65M	4.65M	4.66M	4.61M	1.51M	1.43M	1.36M	1.34M
Weighted Avg Shares Out (Dil)	4.19M	4.32M	4.33M	4.42M	4.42M	4.41M	4.53M	4.57M	4.53M	4.53M	4.53M	4.53M	4.54M	4.57M	4.63M	4.56M	4.48M	4.58M	4.62M	4.65M	4.66M	4.66M	4.61M	1.51M	1.43M	1.36M	1.34M

Farmers National Banc Corp. and Cortland Bancorp Announce Election Deadline of October 25, 2021

October 1, 2021globenewswire.com

CANFIELD, Ohio, Oct. 01, 2021 (GLOBE NEWSWIRE) -- Farmers National Banc Corp. (“Farmers”) (NASDAQ: FMNB), the holding company for The Farmers National Bank of Canfield, and Cortland Bancorp (“Cortland”) (NASDAQ: CLDB), the holding company for The Cortland Savings and Banking...

Cortland Bancorp Announces Second Quarter Financial Results

July 27, 2021globenewswire.com

Net income improves 3% for the quarter; up 44% through six months

Cortland Bancorp Declares Quarterly Cash Dividend of $0.15 Per Share

July 21, 2021globenewswire.com

CORTLAND, Ohio, July 21, 2021 (GLOBE NEWSWIRE) -- Cortland Bancorp (NASDAQ: CLDB), the holding company for Cortland Savings and Banking Company, today announced that its Board of Directors approved a quarterly cash dividend of $0.15 per share. The dividend will...

CORTLAND BANCORP INVESTOR ALERT By the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Cortland Bancorp Inc. - CLDB

June 24, 2021businesswire.com

NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of Cortland Bancorp Inc. (NasdaqGS: CLDB) to Farmers National Banc Corp. (NasdaqCM:...

Cortland Bancorp Merger Investigation: Halper Sadeh LLP Announces Investigation Into Whether the Sale of Cortland Bancorp Inc. Is Fair to Shareholders; Investors Are Encouraged to Contact the Firm – CLDB

June 23, 2021businesswire.com

NEW YORK--(BUSINESS WIRE)--Halper Sadeh LLP, a global investor rights law firm, is investigating whether the sale of Cortland Bancorp Inc. (NASDAQ: CLDB) to Farmers National Banc Corp. is fair to Cortland shareholders. Pursuant to the merger agreement, Cortland shareholders may...

Cortland Bancorp Again Listed by American Banker Magazine as One of Top 200 Publicly Traded Community Banks and Thrifts

May 27, 2021globenewswire.com

Local bank ranked #86 in 2021, up from #105 in 2020 Local bank ranked #86 in 2021, up from #105 in 2020

Dividend Increases: April 17-23, 2021

April 28, 2021seekingalpha.com

This article series provides a weekly summary of dividend changes.

Cortland Bancorp Increases Quarterly Cash Dividend 7% to $0.15 Per Share

April 21, 2021globenewswire.com

CORTLAND, Ohio, April 21, 2021 (GLOBE NEWSWIRE) -- Cortland Bancorp (NASDAQ: CLDB), the holding company for Cortland Savings and Banking Company, today announced that its Board of Directors approved a quarterly cash dividend of $0.15 per share. The dividend will...