Company Quick10K Filing
Ottawa Bancorp
10-K 2019-12-31 Filed 2020-03-30
10-Q 2019-09-30 Filed 2019-11-14
10-Q 2019-06-30 Filed 2019-08-14
10-Q 2019-03-31 Filed 2019-05-14
10-K 2018-12-31 Filed 2019-03-28
10-Q 2018-09-30 Filed 2018-11-14
10-Q 2018-06-30 Filed 2018-08-14
10-Q 2018-03-31 Filed 2018-05-11
10-K 2017-12-31 Filed 2018-03-28
10-Q 2017-09-30 Filed 2017-11-14
10-Q 2017-06-30 Filed 2017-08-14
10-Q 2017-03-31 Filed 2017-05-10
10-K 2016-12-31 Filed 2017-03-29
10-Q 2016-09-30 Filed 2016-11-14
10-Q 2016-06-30 Filed 2016-09-21
8-K 2020-05-05 Earnings, Exhibits
8-K 2020-02-20 Other Events, Exhibits
8-K 2020-02-10 Earnings, Other Events, Exhibits
8-K 2019-11-21 Other Events, Exhibits
8-K 2019-11-01 Earnings, Exhibits
8-K 2019-09-30 Officers
8-K 2019-08-16 Officers
8-K 2019-08-02 Earnings, Exhibits
8-K 2019-05-15 Shareholder Vote
8-K 2019-04-30 Earnings, Exhibits
8-K 2019-03-20 Other Events, Exhibits
8-K 2019-02-21 Other Events, Exhibits
8-K 2019-02-14 Earnings, Other Events, Exhibits
8-K 2019-01-29 Officers, Exhibits
8-K 2018-11-07 Other Events, Exhibits
8-K 2018-10-25 Earnings, Exhibits
8-K 2018-08-02 Earnings, Exhibits
8-K 2018-05-16 Officers, Shareholder Vote
8-K 2018-04-27 Earnings, Exhibits
8-K 2018-02-05 Earnings, Other Events, Exhibits

Ottawa Bancorp Financials

OTTW Metrics, Comps, Filings

Quarterly | Annual

Business

Ottawa Bancorp, Inc. (the “Company”) is a Maryland corporation that was incorporated in May 2016 to be the successor to Ottawa Savings Bancorp, Inc. (“Ottawa Savings Bancorp”) upon completion of the second-step conversion of Ottawa Savings Bank (the “Bank”) from the two-tier mutual holding company structure to the stock holding company structure. Ottawa Savings Bancorp MHC was the former mutual holding company for Ottawa Savings Bancorp prior to completion of the second-step conversion. In conjunction with the second-step conversion, Ottawa Savings Bancorp MHC merged into Ottawa Savings Bancorp (and ceased to exist), and Ottawa Savings Bancorp merged into the Company, with the Company as the surviving entity and unitary savings and loan holding company for Ottawa Savings Bank, a federally chartered savings bank. The second-step conversion was completed on October 11, 2016, at which time the Company sold, for gross proceeds of $23.8 million, a total of 2,383,950 shares of common stock at $10.00 per share, including 190,716 shares purchased by the Bank's employee stock ownership plan. Capital increased an additional $126,000 due to cash contributed by Ottawa Savings Bancorp MHC upon merging into Ottawa Savings Bancorp, Inc. Also as part of the second-step conversion, treasury shares held by Ottawa Savings Bancorp were retired and each of the existing outstanding shares of Ottawa Savings Bancorp common stock owned by persons other than Ottawa Savings Bancorp MHC was converted into 1.1921 of a share of Company common stock. The Company is a publicly traded banking company with assets of $292.8 million at December 31, 2018 and is headquartered in Ottawa, Illinois.

Our business activities are primarily conducted through Ottawa Savings Bank, headquartered in Ottawa, Illinois, which is located in north-central Illinois approximately 80 miles southwest of Chicago. Ottawa Savings Bank conducts business from its main office in Ottawa and through its branch offices located in Marseilles and Morris, Illinois and loan production offices located in Shorewood, Sandwich and Peru, Illinois. Ottawa Savings Bank's market area includes LaSalle County, Grundy County and parts of contiguous counties in Illinois. On December 31, 2014, Ottawa Savings Bancorp acquired Twin Oaks Savings Bank (“Twin Oaks”) and merged Twin Oaks with and into Ottawa Savings Bank, which facilitated Ottawa Savings Bank's expansion into Grundy County.

Ottawa Savings Bank's principal business consists of originating one-to-four family residential real estate mortgage loans and home equity lines of credit, and to a lesser extent, non-residential real estate, multi-family and construction loans. We also offer commercial and industrial loans and other consumer loans. We offer a variety of retail deposits to the general public in the areas surrounding our main office and our branch offices. We offer our customers a variety of deposit products with interest rates that are competitive with those of similar products offered by other financial institutions in our market area. We also utilize borrowings as a source of funds. Our revenues are derived primarily from interest on loans and, to a lesser extent, interest on investment securities and mortgage-backed securities. We also generate revenues from other income including realized gains on sales of loans associated with loan production, deposit fees and service charges, realized gains on sales of other real estate owned, realized gains on sales of securities and loan fees.


Valuation ($MM)

Market Cap, Enterprise Value

Balance Sheet ($MM)

Assets, Equity

Income Statement ($MM Quarterly)

Revenue, G Profit, Net Income

Cash Flow ($MM Quarterly)

Ops, Inv, Fin

Comps ($'000 TTM) Market Cap Gross Margin EV/EBITDA Ret on Assets Assets Liabilities Revenue G Profit Net Income EBITDA EV
MSB Financial (MSBF) 83,268 7.2 0% 591,253 527,033 0 0 2,852 9,355 67,543
Community First Bancshares (CFBI) 77,241 13.5 0% 309,727 233,180 0 0 498 2,899 39,240
IF Bancorp (IROQ) 72,677 4.5 1% 678,204 600,917 0 0 3,724 14,213 63,301
FFBW (FFBW) 72,169 19.6 0% 258,089 196,779 0 0 1,007 3,460 67,984
Magyar Bancorp (MGYR) 71,479 4.6 0% 630,328 575,677 0 0 2,996 10,971 50,010
Kentucky First Federal Bancorp (KFFB) 65,806 11.8 0% 328,759 262,719 0 0 908 4,566 53,651
CBM Bancorp (CBMB) 59,883 23.0 0% 217,752 156,985 0 0 746 2,166 49,729
Home Federal Bancorp of Louisiana (HFBL) 58,280 2.3 1% 459,891 410,154 0 0 4,772 10,908 25,140
Hamilton Bancorp (HBK) 54,663 52.8 -1% 496,254 439,764 0 0 -3,506 1,501 79,165
Central Federal (CFBK) 53,943 0% 2.2 1% 786,437 732,555 408 0 6,578 17,884 39,144
Bancorp 34 (BCTF) 50,322 7.8 0% 385,274 340,468 0 0 154 4,469 34,657
Mid-Southern Bancorp (MSVB) 46,742 11.2 1% 209,124 158,235 0 0 1,284 2,393 26,864
Broadway Financial (BYFC) 45,205 0% 5.1 -0% 414,618 365,758 353 0 -137 4,583 23,383
Ottawa Bancorp (OTTW) 42,297 7.3 0% 304,214 253,877 0 0 1,380 4,341 31,616
FSB Bancorp (FSBC) 30,973 21.8 -0% 324,810 292,893 0 0 -37 3,667 80,019
Eagle Financial Bancorp (EFBI) 26,407 0% 11.6 0% 142,308 114,438 200 0 432 1,517 17,624
Carver Bancorp (CARV) 11,172 -34.2 -1% 586,992 535,683 0 0 -5,078 791 -27,057
HMN Financial (HMNF) 106 -5.4 1% 763,228 672,038 0 0 6,558 11,660 -62,401
First Seacoast Bancorp (FSEA) -2.5 -0% 400,314 343,325 0 0 -222 2,555 -6,505

Balance Sheet ($'000)2016-09-302016-12-312017-03-312017-06-302017-09-302017-12-312018-03-312018-06-302018-09-302018-12-312019-03-312019-06-302019-09-30
Cash4,4699,9304,9793,3312,9383,7563,1756,04110,7458,4307,3036,19610,681
Accounts Receivable
Inventory
PP&E6,89610,8696,7986,7786,72510,9426,6176,6146,63211,1386,6966,6386,564
Assets276,087230,161236,449239,032245,732255,400267,966273,834277,736292,836289,505301,556304,214
Accounts Payable
Long-Term Debt
Liabilities243,670177,417183,323185,355191,721202,297215,507221,375225,089240,012236,563250,996253,877
Stockholders' Equity31,85651,93652,21752,66052,91351,90151,25652,45952,64752,82452,94350,56050,337
Income Statement ($'000)2016-09-302016-12-312017-03-312017-06-302017-09-302017-12-312018-03-312018-06-302018-09-302018-12-312019-03-312019-06-302019-09-30
Revenue
Cost of Revenue
Gross Profit
R&D
SG&A
Tax22380181168360321172359192195133178
Net Income421208357466455-464480381590400435545
Cash Flow ($'000)2016-09-302016-12-312017-03-312017-06-302017-09-302017-12-312018-03-312018-06-302018-09-302018-12-312019-03-312019-06-302019-09-30
Cash Operating2,412779-1119031,3681,031-307700955632-1,508
Cash Investing45,347-7,145-3,393-8,001-10,039-13,687-2,6375972,163-13,4443,567
Cash Financing-46,2815,3991,8576,7059,48812,0765,8093,407-4,24611,7062,426