Morris State Bancshares Announces Quarterly Earnings and Declares Second Quarter Dividend

DUBLIN, Ga., April 23, 2025 (GLOBE NEWSWIRE) -- Morris State Bancshares, Inc. (OTCQX: MBLU) (the “Company”), the parent of Morris Bank, today announced net income of $4.9 million for the quarter ending March 31, 2025, representing an increase of $22 thousand, or 0.45%, compared to net income of $4.9 million for the quarter ended March 31, 2024. In the linked quarter comparison, net income decreased $1.2 million, or 20.04%, compared to net income of $6.1 million for the quarter ending December 31, 2024. Net interest income before provision for credit losses increased from the linked and prior year quarters by $980 thousand and $2.5 million, respectively.   The decline in linked quarterly net earnings was primarily driven by higher income tax provisioning, increased CECL-related reserves for unfunded loan commitments, and an increase in salary and benefits costs related to the payment of first quarter bonuses for the prior year.