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 three months ended 31 March 2019, CORTLAND BANCORP INC interest income increased 16% to $7.6M. Net interest income after loan loss provision increased 19% to $6M. Net income increased 37% to $2.1M. Net interest income after loan loss provision reflects Interest and Fees on Loans increase of 18% to $6.6M, Interest and dividends on investment sec increase of 14% to $560K, Other Interest Income increase from $28K to $58K.
Employees: 144 as of Dec 31, 2014
Reporting Currency: U.S. Dollars
Enterprise value: $98.93M as of Mar 31, 2019
Annual revenue (TTM): $28.77M as of Mar 31, 2019
EBITDA (TTM): $14.04M as of Mar 31, 2019
Net annual income (TTM): $9.40M as of Mar 31, 2019
Free cash flow (TTM): $5.72M as of Mar 31, 2019
Net Debt Last Fiscal Year: N/A
Shares outstanding: 4,384,075 as of May 2, 2019
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization