U&I Financial Corp. (UNIF)
OTCQX OTCQX Primary Summary
U & I Financial Corp. Reports Amended and Restated Third Quarter 2024 Financial Results
LYNNWOOD, WA / ACCESSWIRE / December 6, 2024 / U & I Financial Corp. (OTCQX:UNIF), the holding company (the "Company") for UniBank (the "Bank"), today reported amended and restated results for its third quarter with decreases in Gross Loans and Allowance for Credit Losses (ACL) on Loans by $8.7 million each, reflecting loan charge offs against the ACL. These were all commercial equipment loans that had the principal balances fully reserved as of September 30, 2024.
UniBank Names Robert Disotell Executive Vice President and Chief Credit Officer
LYNNWOOD, WA / ACCESSWIRE / September 3, 2024 / U & I Financial Corp. (OTCQX:UNIF), the holding company (the "Company") of UniBank (the "Bank"), announced today that the Bank has selected Robert Disotell as Executive Vice President (EVP) and Chief Credit Officer (CCO), and JJ Kim as EVP and Chief Banking Officer, both effective September 1, 2024. Disotell has 21 years of experience as a Chief Credit/Lending Officer in Washington and California.
U & I Financial Corp. Reports Second Quarter 2024 Financial Results
LYNNWOOD, WA / ACCESSWIRE / July 31, 2024 / U & I Financial Corp. (OTCQX:UNIF), the holding company ("Company") for UniBank ("Bank"), today reported a quarterly Net Loss of $827 thousand or $0.15 loss per share in the second quarter of 2024, compared to $2.4 million of Net Income or $0.44 earnings per share for the same quarter of 2023. Net income decreased by $3.2 million or $0.59 per share, primarily due to an increase in the Provision for Credit Losses of $3.0 million in the second quarter of 2024, compared to no provision during the same period last year.
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U&I Financial Corp. Profile
| Banks Industry | Financials Sector | Stephanie Yoon CEO | OTCQX Exchange | 902521103 CUSIP |
| US Country | 50 Employees | 13 Oct 2023 Last Dividend | 4 Oct 2017 Last Split | - IPO Date |
Overview
U & I Financial Corp. is a corporation that serves as the parent company for UniBank, specializing in providing a wide range of banking products and services. Targeting small to medium-sized businesses, professionals, and residents, U & I Financial Corp. focuses particularly on serving Korean and other ethnic minority communities within the United States. Established in 2006 and headquartered in Lynnwood, Washington, the bank boasts a network of branches in Tacoma, Bellevue, and Federal Way, Washington, in addition to maintaining a loan production office in Atlanta, Georgia. This strategic placement of branches and offices enables U & I Financial Corp. to effectively meet the banking needs of a diverse clientele spread across pivotal regions.
Products and Services
U & I Financial Corp. offers a comprehensive suite of banking products and services designed to cater to the varied needs of its customers, which include:
- Checking and Savings Accounts: These fundamental banking services allow customers to manage their daily financial transactions with ease and security, alongside saving for the future through different types of savings and money market accounts.
- Certificates of Deposit/Installment Savings Products: Offering higher interest rates than regular savings accounts, these financial instruments are suited for customers looking to save money over a fixed period.
- Commercial Loans:
- Commercial Real Estate Term Loans: Financing solutions for purchasing or refinancing commercial properties.
- Construction Loans: Financial support for new construction projects or renovations.
- Business Term Loans: Lump-sum loan amounts provided to businesses for a specific purpose and paid back over a set term.
- Equipment Loans: Financing for the purchase of new or used equipment for business operations.
- Business Lines of Credit: Flexible credit options for managing cash flow and financing short-term business needs.
- Business Express Loans and Professional Lines and Loans: Tailored financing solutions for quick access to capital and for professionals seeking to expand or manage their practices.
- Small Business Administration (SBA) Guaranteed Loans: Backed by the U.S. Small Business Administration, these loans offer more flexible terms to help small businesses grow and thrive.
- Credit Cards: A variety of credit card options to meet the needs of both individuals and businesses, including rewards and business credit cards.
- Online and Mobile Banking Services: U & I Financial Corp. leverages technology to provide convenient banking solutions, enabling customers to manage their accounts, transfer funds, and pay bills from anywhere at any time.
