Andover Bancorp Inc
Andover Bancorp, Inc. operates as the bank holding company for Andover Bank that provides commercial and retail banking products and services. The company offers savings and checking accounts, individual retirement accounts, and certificates of deposit. It also provides mortgage, construction, home equity, vehicle, student, and personal loans; term, commercial real estate, working capital lines o… Read more
Andover Bancorp Inc (ANDC) - Net Assets
Latest net assets as of December 2023: $20.28 Million USD
Based on the latest financial reports, Andover Bancorp Inc (ANDC) has net assets worth $20.28 Million USD as of December 2023.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($558.53 Million) and total liabilities ($538.25 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $20.28 Million |
| % of Total Assets | 3.63% |
| Annual Growth Rate | -7.13% |
| 5-Year Change | -63.75% |
| 10-Year Change | -55.82% |
| Growth Volatility | 33.33 |
Andover Bancorp Inc - Net Assets Trend (1998–2024)
This chart illustrates how Andover Bancorp Inc's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Andover Bancorp Inc (1998–2024)
The table below shows the annual net assets of Andover Bancorp Inc from 1998 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $17.69 Million | -12.77% |
| 2023-12-31 | $20.28 Million | +48.23% |
| 2022-12-31 | $13.68 Million | -70.57% |
| 2021-12-31 | $46.50 Million | -4.72% |
| 2020-12-31 | $48.80 Million | +14.55% |
| 2019-12-31 | $42.61 Million | +11.33% |
| 2018-12-31 | $38.27 Million | -4.70% |
| 2017-12-31 | $40.15 Million | -1.21% |
| 2016-12-31 | $40.65 Million | +1.50% |
| 2015-12-31 | $40.05 Million | -73.93% |
| 2000-12-31 | $153.62 Million | +17.93% |
| 1999-12-31 | $130.26 Million | +7.53% |
| 1998-12-31 | $121.14 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Andover Bancorp Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 19.9% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $70.38 Million | 397.79% |
| Common Stock | $814.24K | 4.60% |
| Other Comprehensive Income | $-34.14 Million | -192.96% |
| Total Equity | $17.69 Million | 100.00% |
Andover Bancorp Inc Competitors by Market Cap
The table below lists competitors of Andover Bancorp Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
KidariStudio Inc
KO:020120
|
$39.09 Million |
|
Blinklab Ltd
AU:BB1
|
$39.10 Million |
|
Han Kook Capital Co. Ltd
KQ:023760
|
$39.13 Million |
|
Wanshih Electronic Co Ltd
TWO:6134
|
$39.14 Million |
|
Sangsangin Co. Ltd
KQ:038540
|
$39.08 Million |
|
CFSB Bancorp Inc
NASDAQ:CFSB
|
$39.07 Million |
|
FineMat Applied Materials Co Ltd
TW:6698
|
$39.06 Million |
|
Sandon Capital Investments Ltd
AU:SNC
|
$39.05 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Andover Bancorp Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 20,281,287 to 17,691,829, a change of -2,589,458 (-12.8%).
- Net income of 3,157,449 contributed positively to equity growth.
- Dividend payments of 1,558,033 reduced retained earnings.
- Share repurchases of 955,601 reduced equity.
- Other comprehensive income decreased equity by 3,243,179.
- Other factors increased equity by 268,514.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $3.16 Million | +17.85% |
| Dividends Paid | $1.56 Million | -8.81% |
| Share Repurchases | $955.60K | -5.4% |
| Other Comprehensive Income | $-3.24 Million | -18.33% |
| Other Changes | $268.51K | +1.52% |
| Total Change | $- | -12.77% |
Book Value vs Market Value Analysis
This analysis compares Andover Bancorp Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 2.28x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has increased from 1.21x to 2.28x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2015-12-31 | $16.18 | $19.65 | x |
| 2016-12-31 | $16.34 | $19.65 | x |
| 2017-12-31 | $16.29 | $19.65 | x |
| 2018-12-31 | $15.74 | $19.65 | x |
| 2019-12-31 | $17.80 | $19.65 | x |
| 2020-12-31 | $21.17 | $19.65 | x |
| 2021-12-31 | $20.90 | $19.65 | x |
| 2022-12-31 | $6.43 | $19.65 | x |
| 2023-12-31 | $9.67 | $19.65 | x |
| 2024-12-31 | $8.60 | $19.65 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Andover Bancorp Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 17.85%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 17.36%
- • Asset Turnover: 0.03x
- • Equity Multiplier: 31.97x
- Recent ROE (17.85%) is above the historical average (13.86%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1998 | 14.35% | 17.08% | 0.07x | 11.64x | $5.27 Million |
| 1999 | 14.50% | 18.05% | 0.07x | 11.45x | $5.86 Million |
| 2000 | 13.14% | 16.01% | 0.07x | 11.87x | $4.82 Million |
| 2015 | 8.21% | 22.79% | 0.04x | 9.99x | $-716.46K |
| 2016 | 9.24% | 23.62% | 0.04x | 9.84x | $-308.01K |
| 2017 | 9.55% | 24.59% | 0.04x | 10.25x | $-181.77K |
| 2018 | 9.99% | 22.62% | 0.04x | 10.37x | $-3.38K |
| 2019 | 8.74% | 21.28% | 0.04x | 10.03x | $-537.23K |
| 2020 | 8.73% | 24.22% | 0.03x | 10.80x | $-622.20K |
| 2021 | 11.60% | 28.67% | 0.03x | 12.37x | $742.78K |
| 2022 | 35.61% | 24.70% | 0.03x | 41.80x | $3.50 Million |
| 2023 | 18.63% | 20.69% | 0.03x | 27.54x | $1.75 Million |
| 2024 | 17.85% | 17.36% | 0.03x | 31.97x | $1.39 Million |
Industry Comparison
This section compares Andover Bancorp Inc's net assets metrics with peer companies in the Banks - Regional industry.
Industry Context
- Industry: Banks - Regional
- Average net assets among peers: $25,670,820,700
- Average return on equity (ROE) among peers: 9.44%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Andover Bancorp Inc (ANDC) | $20.28 Million | 14.35% | 26.54x | $39.09 Million |
| Ameris Bancorp (ABCB) | $120.94 Million | 10.83% | 9.48x | $4.91 Billion |
| ACNB Corporation (ACNB) | $2.75 Billion | 1.01% | 0.01x | $462.57 Million |
| Addiko Bank AG (ADBKF) | $839.50 Million | 5.41% | 6.63x | $210.07 Million |
| Affinity Bancshares Inc (AFBI) | $120.97 Million | 6.26% | 5.51x | $79.94 Million |
| Absa Group Limited (AGRPF) | $19.52 Billion | 23.08% | 14.72x | $6.72 Billion |
| AIB Group plc (AIBGY) | $14.46 Billion | -16.17% | 8.45x | $21.72 Billion |
| Akbank Turk Anonim Sirketi (AKBTY) | $211.22 Billion | 31.48% | 8.02x | $8.60 Billion |
| Alpha Bank SA (ALBKY) | $7.32 Billion | 8.44% | 8.89x | $1.12 Billion |
| Community Capital Bancshares Inc (ALBY) | $9.19 Million | 7.09% | 8.66x | $19.76 Million |
| Alpine Banks of Colorado (ALPIB) | $342.89 Million | 16.92% | 10.27x | $248.47 Million |