Reliant Bancorp Quarterly Results and Company News

Reliant Bancorp has consistently delivered strong quarterly results, with a notable uptick in earnings per share in the most recent quarter.

The company's net income has been steadily increasing, reaching $12.1 million in the latest quarter.

Reliant Bancorp's asset quality has also been a highlight, with a low non-performing asset ratio of 0.41%.

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Reliant Bancorp has been making headlines in the financial world. The company was dropped from the S&P TMI Index on January 3, 2022.

Reliant Bancorp's stock was also removed from the S&P Global BMI Index on the same day. This change may have an impact on investors who track these indices.

United Community Banks completed the acquisition of Reliant Bancorp on December 31, 2021.

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Reliant Bancorp, Inc. has been making headlines in recent months. United Community Banks completed its merger with Reliant Bancorp on December 31, 2021, marking a significant milestone in the company's history.

The merger has led to some changes in Reliant Bancorp's index listings. As of January 3, 2022, the company was dropped from the S&P TMI Index, the S&P Global BMI Index, and the NASDAQ Composite Index.

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Reliant Bancorp's earnings have been a topic of interest. In the third quarter of 2021, the company reported a net income of $0.87 per diluted share, exceeding street estimates. This was a significant improvement from the previous quarter.

Here's a summary of Reliant Bancorp's key financial metrics for the third quarter of 2021:

The company's equity buyback plan was announced on January 26, 2021, but was later suspended on August 30, 2021, with 0 shares remaining.

Reliant Bancorp reported a net income of $13.3 million, or $0.79 per diluted share, for Q3 2021, reflecting growth from $11.5 million in Q3 2020.

The company's loan growth was strong, with an annualized increase of 11.8% and a 3.6% rise excluding PPP loans.

Reliant Bancorp's net interest margin improved to 4.22%, despite a decrease from the previous year.

Customer deposits comprised 89.9% of the portfolio, leading to a lower cost of deposits at 0.58%.

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Reliant Bancorp, Inc. declared a quarterly cash dividend of $0.12 per share, payable on August 12, 2021, which represents a 20% increase from the same quarter in 2020.

The company's robust financial position was showcased with approximately $3.1 billion in total assets, $2.3 billion in loans for investment, and $2.6 billion in deposits as of June 30, 2021.

Reliant Bancorp reported a net income of $13 million for Q2 2021, a significant increase from $7.9 million in Q2 2020.

The bank's loan growth accelerated by 1.9% from the previous quarter and 3.2% excluding PPP loans, showing a steady improvement in their financial performance.

Reliant Bancorp's non-time deposits increased by 6.3%, while their book value per share rose by 4.3% to $20.77, indicating a strong financial foundation for the bank.

The company maintained strong asset quality with nonperforming loans at 0.23% of total loans, a testament to their effective risk management strategies.

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Reliant Bancorp's net interest margin decreased to 4.14%, primarily due to a swap termination fee, a common challenge faced by banks in managing their investments.

The bank's shareholders’ equity rose to 11.18% of total assets, a positive indicator of their financial health and stability.

Reliant Bancorp's merger with United Community Banks is expected to enhance their market presence in Tennessee, ranking them 10th in deposit market share post-closure.

The merger is also projected to be accretive to earnings, adding $0.15 (6.1%) per share in 2022 and $0.22 (8.5%) in 2023, a promising development for the bank's future growth.

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Reliant Bancorp reported a net income of $12.1 million, or $0.73 per diluted share, for Q1 2021, maintaining earnings from Q4 2020.

This is a significant improvement from Q1 2020, when the company incurred a loss. Loan production surged to $253.6 million, a 69% increase year-over-year.

The strong loan growth was aided by a net interest margin of 4.51%. This is a testament to the bank's effective management of its loan portfolio.

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Non-time deposits grew by 8.1%, reflecting the bank's client relationship strategies. This is a positive sign for the company's ability to attract and retain customers.

The bank's credit quality remained stable, with a low nonperforming loan rate of 0.27%. This is a good indicator of the bank's overall financial health.

Shareholder value increased, with a 20% rise in dividends. This is a direct result of the company's strong financial performance.

The bank's total assets stood at approximately $3.1 billion as of June 30, 2021. This is a significant increase from previous years, reflecting the company's growth and expansion.

Reliant Bancorp operates Reliant Bank, offering a range of banking products and services across multiple counties in Tennessee.

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Reliant Bancorp, Inc. has made significant announcements in recent times. The company will release its 2021 Q2 financial results on July 22, 2021, post-market.

A conference call for discussion is scheduled for July 23, 2021, at 9:00 a.m. Central Time, which will be available for live streaming online. This call will likely be an opportunity for investors to ask questions and gain insight into the company's performance.

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Reliant Bancorp, Inc. has authorized a stock repurchase plan of up to $10.0 million for its common stock. This plan aims to enhance earnings per share while leveraging the company's financial strength.

The company has also announced a quarterly cash dividend of $0.12 per share, reflecting a 20% increase from the previous year. This dividend is payable on May 20, 2021, to shareholders recorded by the close of business on May 10, 2021.

Chairman and CEO DeVan Ard, Jr. highlighted strong operating results, solid earnings, and improved net interest margins as factors supporting the increase in dividend.

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Reliant Bancorp's shareholder structure is comprised of various individuals and directors. The company's largest shareholder is Vest Ruskin Alexander, who owns 141,503 shares worth $5,023,356.50 as of December 15, 2021.

The breakdown of Reliant Bancorp's shareholders includes several directors and officers, with some notable individuals owning significant shares. For example, Deberry William Ronald owns 92,718 shares, while Wallace Michael E owns 87,632 shares.

Here is a list of the top shareholders:

Reliant Bancorp's shareholders have benefited from the company's growth, as evident from the 20% increase in dividend payments in 2020.

The Relevant Shareholders section provides a snapshot of the key players with a stake in Reliant Bancorp, Inc. Wilson John Robert, a director, holds 34,604 shares valued at $1,228,442.00.

One of the most notable shareholders is Deberry William Ronald, who owns 92,718 shares worth $3,291,489.00. This is a significant holding, making him a substantial player in the company.

The majority of the listed shareholders have zero shares, including Rebrovick Linda, Jefferson Alison Lee, Edwards Sharon Hughes, Mabry William Lawson, Ard Devan D Jr, and several others. This suggests that their involvement is more administrative or advisory rather than financial.

A smaller group of shareholders holds a substantial number of shares, including Vest Ruskin Alexander (141,503 shares) and Freeman Darrell S Sr (80,201 shares). These individuals have a significant impact on the company's decision-making process.

Here's a breakdown of the top shareholders with the largest holdings:

The data suggests that the shareholder structure is complex, with multiple individuals holding significant stakes in the company.

Reliant Bancorp, Inc. has declared a quarterly cash dividend of $0.12 per share, payable on November 12, 2021, to shareholders who are on record as of October 29, 2021.

This marks a 20% increase from the same quarter in 2020, reflecting the company's growth.

The dividend payment is a reward to shareholders for their investment in the company.

As of September 30, 2021, Reliant Bancorp reported approximately $3.0 billion in total assets, $2.4 billion in loans, and $2.5 billion in deposits, demonstrating a strong financial position.

Reliant Bancorp has a strong presence in the Nashville market, with 26 locations throughout the region.

Their focus on community banking has allowed them to build long-term relationships with customers and establish a reputation for excellent customer service.

Reliant Bancorp's management team has a deep understanding of the local market, which has enabled them to make informed decisions and navigate the challenges of the banking industry.

Their commitment to community development has been evident in their efforts to support local businesses and non-profits.

The bank's conservative approach to lending has helped them maintain a stable financial position, even in times of economic uncertainty.

Reliant Bancorp's focus on digital banking has allowed them to offer customers a range of convenient online services, including mobile banking and online bill pay.

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