Skyline Bankshares reports record Q4 net income of $2.9M ($0.51/share), up 11.5% YoY

Skyline Bankshares, Inc.

Full-year 2022 net income $10.3M ($1.84/share) vs $9.5M ($1.59/share) in 2021; ROAA 1.12%, ROAE 15.80%.
Net interest margin expanded to 3.93% in Q4 2022 from 3.70% in Q3 2022, aided by Fed rate hikes.
Core loan growth of $97.1M (14.84%) in 2022, offsetting PPP loan runoff of $24.5M.
Stock repurchase plan extended through Jan 2025; 91,325 shares remain available for buyback.
Company completed name change to Skyline Bankshares, Inc. on Jan 1, 2023; expects near-term NIM pressure.

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