Grand Bank Corp.
GABK
Other OTC6,500.00
USD
- -
- -
ISIN
US3849031006
Return %
Stock
S&P500
1Y
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19.01
3Y
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65.48
5Y
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72.20
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- CEO
- James E. Nye
- Sector
- Financial Services
- Industry
- Banks - Regional
- Address
- 91 Pleasant Street Marblehead MA United States of America 01945
- IPO Date
- Dec 5, 2012
- Website
- ngbank.com
- Similar Companies
- Business
- Grand Bank Corp. (GABK) is a bank holding company that owns National Grand Bank of Marblehead, a federally chartered bank engaged principally in attracting deposits from the general public and investing those deposits in residential and commercial real estate loans, consumer loans, and small business loans. Founded in 1984 and headquartered in Marblehead, Massachusetts, the company operates through its subsidiary bank, which provides a range of personal and business banking products and services including checking accounts, savings accounts, certificates of deposit, retirement services, money market accounts, personal loans, business loans, mortgages, debit and credit cards, online and mobile banking, bill pay, mobile deposit, Zelle payments, eStatements, Notifi alerts, external funds transfers, round-up savings, early direct deposit, merchant services, credit card merchant processing, and financial education resources; the bank also offers convenience services such as ATM finder access to over 40,000 surcharge-free MoneyPass ATMs nationwide, bank-by-phone, and credit score monitoring. National Grand Bank of Marblehead, incorporated in 1831, maintains its main office at 91 Pleasant Street in Marblehead and serves customers primarily on the North Shore of Massachusetts with a focus on personal, business, and mortgage banking. In recent developments, Grand Bank Corp. continues its ongoing share repurchase program, acquiring 263 shares of its own stock in 2024 and an additional 479 shares in 2023 to support shareholder value amid a book value per share rising to $8,678 by year-end 2024. The company declared quarterly dividends of $30 per share throughout 2024, alongside a special $35 per share dividend in the first quarter, maintaining a total annual dividend of $155 per share consistent with 2023. Operationally, the corporation reported net income of $9.1 million for 2024, driven by mark-to-market gains on marketable equity securities despite a 44% decline in banking net income due to interest rate pressures and deposit migration to higher-yielding time deposits; total assets grew 4.5% to $487 million, net loans increased 3%, and deposits rose 4.8%. In April 2024, several officers received promotions including Robert Duzz to Assistant Vice President of BSA/Compliance, Leda Joyce to Assistant Vice President of Deposit Operations, Matthew Martin to Assistant Vice President of Business Development, and Michael O’Neil to Assistant Vice President of Commercial Lending; Executive Vice President and Chief Lending Officer Carl R. Edwards announced his retirement effective February 28, 2025, with Michael O’Neil succeeding as Vice President of Lending. The company maintains subsidiaries Grand Bank Realty Trust for real estate holdings and Pleasant Street Investment Corporation for securities investments, with no reported acquisitions, mergers, or major strategic alliances in the past two years.