Business Focus: Banks

Sector:  Financials Industry:  Banks
See Regulatory Filings on SEC
Company Contact
Address: 194 W MAIN ST
CORTLAND OH 44410-1445
Tel: 1-330-6378040
IR: See website
Key People
Timothy K. Woofter
Independent Chairman of the Board
James M. Gasior
President, Chief Executive Officer of the Company and Bank, Director
Thomas P. Perciak
Vice Chairman of the Board
David J. Lucido
Chief Financial Officer, Senior Vice President of the Company and Bank
Timothy B. Carney
Chief Operating Officer, Executive Vice President, Secretary of the Company and Bank, Director
Stanley P. Feret
Senior Vice President, Chief Lending Officer of the Company and Bank
Business Overview
Cortland Bancorp is a bank holding company. The Company's principal activity is to own, manage and supervise The Cortland Savings and Banking Company (Cortland Banks or the Bank). The Company operates through the commercial banking segment. The Bank is a state chartered bank engaged in commercial and retail banking. The Bank's services include checking accounts, savings accounts, time deposit accounts, commercial, mortgage and installment loans, night depository, automated teller services, safe deposit boxes and other miscellaneous services. The Bank provides brokerage and investment services through an arrangement with Investment Professionals, Inc. Under this arrangement, financial advisors offer customers a range of investment products and services, such as estate planning, annuities, life insurance, fixed income, and equity securities and equity research and recommendations. The Bank, through Investment Professionals, Inc., also offers asset management services to customers.
Financial Overview
For the fiscal year ended 31 December 2018, CORTLAND BANCORP INC interest income increased 18% to $27.7M. Net interest income after loan loss provision increased 12% to $22.6M. Net income before extraordinary items increased 58% to $8.8M. Net interest income after loan loss provision reflects Interest and Fees on Loans increase of 24% to $23.8M, Other Interest Income increase of 65% to $162K.
Employees: 144 as of Dec 31, 2014
Reporting Currency: U.S. Dollars
Enterprise value: $94.24M as of Dec 31, 2018
Annual revenue (TTM): $27.75M as of Dec 31, 2018
EBITDA (TTM): $13.42M as of Dec 31, 2018
Net annual income (TTM): $8.84M as of Dec 31, 2018
Free cash flow (TTM): $9.05M as of Dec 31, 2018
Net Debt Last Fiscal Year: N/A
Shares outstanding: 4,349,624 as of Mar 7, 2019
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization