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Plumas Bancorp Reports First Quarter Results

Retrieved on:

Mercredi, avril 17, 2024

Sale, Investment, FHLB, News, Risk, Federal Home Loan Banks, Federal Reserve Bank, Trust, SBA, Federal, Growth, PLBC, FRB, Security, Interest, Bank

The average prime interest rate increased from 7.69% during the first quarter of 2023 to 8.5% during the current quarter.

Key Points:

The average prime interest rate increased from 7.69% during the first quarter of 2023 to 8.5% during the current quarter.
The average rate earned on FRB balances increased from 4.59% during the first quarter of 2023 to 5.40% during the current quarter.
Plumas Bank is a subsidiary of Plumas Bancorp (NASDAQ: PLBC), a bank holding company headquartered in Reno, Nevada.
For more information regarding Plumas Bancorp and Plumas Bank, visit plumasbank.com.

BayCom Corp Reports 2024 First Quarter Earnings of $5.9 Million

Retrieved on:

Jeudi, avril 18, 2024

Net interest income decreased $1.1 million, or 4.8%, to $22.4 million for the first quarter of 2024 from $23.5 million in the prior quarter, and decreased $2.9 million, or 11.3%, from $25.3 million in the same quarter a year ago.

Key Points:

Net interest income decreased $1.1 million, or 4.8%, to $22.4 million for the first quarter of 2024 from $23.5 million in the prior quarter, and decreased $2.9 million, or 11.3%, from $25.3 million in the same quarter a year ago.
Average interest-earning assets decreased $1.4 million, or 0.1%, and increased $18.1 million, or 0.71%, for the first quarter of 2024 compared to the fourth quarter of 2023 and the first quarter of 2023, respectively.
At March 31, 2024, there were $2.9 million in PPP loans outstanding compared to $3.8 million at December 31, 2023, and $5.9 million at March 31, 2023.
Shareholders’ equity totaled $314.2 million at March 31, 2024, compared to $312.9 million at December 31, 2023, and $313.5 million at March 31, 2023.

RBB Bancorp Declares Quarterly Cash Dividend of $0.16 Per Common Share

Retrieved on:

Jeudi, avril 18, 2024

RBB Bancorp (NASDAQ: RBB ) and its subsidiaries, Royal Business Bank ("the Bank") and RBB Asset Management Company ("RAM"), collectively referred to herein as "the Company", announced that its Board of Directors has declared a quarterly cash dividend of $0.16 per common share.

Key Points:

RBB Bancorp (NASDAQ: RBB ) and its subsidiaries, Royal Business Bank ("the Bank") and RBB Asset Management Company ("RAM"), collectively referred to herein as "the Company", announced that its Board of Directors has declared a quarterly cash dividend of $0.16 per common share.
The dividend is payable on May 13, 2024 to common shareholders of record as of May 1, 2024.
RBB Bancorp is a bank holding company headquartered in Los Angeles, California.
As of December 31, 2023, the Company had total assets of $4.0 billion.

Community Heritage Financial, Inc. Reports Earnings for the First Quarter of 2024

Retrieved on:

Mardi, avril 23, 2024

MVB, Bank, OTC, Federal Reserve Bank, Insurance, Growth, ACL, FDICIA, NIM, Unemployment, GDP, CHF, FRB, NOW, Video game

Quarterly Highlights – Q1 2024 vs. Q4 2023

Key Points:

Quarterly Highlights – Q1 2024 vs. Q4 2023
Loans increased $17.7 million during the first quarter of 2024 to $830.6 million as of March 31, 2024.
Deposits increased $26.2 million in the first quarter of 2024 to $902.9 million as of March 31, 2024.
The net interest margin ("NIM") increased from 2.71% during the fourth quarter of 2023 to 2.80% during the first quarter of 2024.
Non-interest income totaled $974 thousand for the first quarter of 2024 compared to $713 thousand for the first quarter of 2023.

Decomposing systemic risk: the roles of contagion and common exposures

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Mardi, avril 23, 2024

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Abstract

Key Points:

Abstract
We evaluate the effects of contagion and common exposure on banks? capital through
a regression design inspired by the structural VAR literature and derived from the balance
sheet identity.
Contagion can occur through direct exposures, fire sales, and market-based
sentiment, while common exposures result from portfolio overlaps.
First, we document that contagion varies in time, with the highest levels
around the Great Financial Crisis and lowest levels during the pandemic.
Our new framework complements
traditional stress-tests focused on single institutions by providing a holistic view of systemic risk.
While existing literature presents various contagion narratives, empirical findings on
distress propagation - a precursor to defaults - remain scarce.
We decompose systemic risk into three elements: contagion, common exposures, and idiosyncratic risk, all derived from banks? balance sheet identities.
The contagion factor encompasses both sentiment- and contractual-based elements, common exposures consider systemic
aspects, while idiosyncratic risk encapsulates unique bank-specific risk sources.
Our empirical analysis of the Canadian banking system reveals the dynamic nature of contagion, with elevated levels observed during the Global Financial Crisis.
In conclusion, our model offers a comprehensive lens for policy intervention analysis and
scenario evaluations on contagion and systemic risk in banking.
This
notion of systemic risk implies two key components: first, systematic risks (e.g., risks related
to common exposures) and second, contagion (i.e., an initially idiosyncratic problem becoming
more widespread throughout the financial system) (see Caruana, 2010).
In this paper, we decompose systemic risk into three components: contagion, common exposures, and idiosyncratic risk.
First, we include contagion in three forms: sentiment-based contagion, contractual-based
contagion, and price-mediated contagion.
In this context,
portfolio overlaps create common exposures, implying that bigger overlaps make systematic
shocks more systemic.
With the COVID-19 pandemic starting
in 2020, contagion drops to all time lows, potentially related to strong fiscal and monetary
supports.
That is, our
structural model provides a framework for analyzing the impact of policy interventions and
scenarios on different levels of contagion and systemic risk in the banking system.
This provides a complementary approach to
seminal papers that took a structural approach to contagion, such as DebtRank Battiston et al.
More generally, the literature on networks and systemic risk started with Allen and Gale
(2001) and Eisenberg and Noe (2001).
The matrix is structured as follows:
1
In our model, we do not distinguish between interbank liabilities and other types of liabilities.
In other words, we can and aim to estimate different degrees
of contagion per asset class, i.e., potentially distinct parameters ?Ga .
For that, we build three major
metrics to check: average contagion, average common exposure, and average idiosyncratic risk.
N i j
et ,
Further, we define the (N ?K) common exposure matrix as Commt = [A

(20)

et ]diag (?C
?L

such that average common exposure reads,
average common exposure =

1 XX
Commik,t .
N i j
(22)

20

? c ),

The three metrics?average contagion, average common exposure, and average idiosyncratic risk?provide a comprehensive framework for understanding banking dynamics.
Figure 4 depicts the average level of risks per systemic risk channel: contagion risk, common exposure, and idiosyncratic risk.
Figure 4: Average levels of contagion (Equation (20)), common exposure (Equation (21)), and idiosyncratic risk
(Equation (22)).
The market-based contagion is the contagion due to
investors? sentiment, and the network is an estimate FEVD on volatility data.
For most of
the sample, we find that contagion had a bigger impact on the variance than common exposures.

FRB Expands to Westchester County and Connecticut, Merges with Law Firm Hollis Laidlaw & Simon P.C.

Retrieved on:

Lundi, avril 1, 2024

Partner, Employment, Partnership, Trust, CELA, LLP, HLS, Small business, Rest, FRB, Lawsuit, Estate, Multimedia, Property management

This merger brings together two distinguished teams and expands FRB's service offerings in Westchester County and the Tri-State area.

Key Points:

This merger brings together two distinguished teams and expands FRB's service offerings in Westchester County and the Tri-State area.
For more than 50 years, Hollis Laidlaw & Simon (HLS) has been a pillar of legal excellence and has provided high level client service in Westchester County, New York City, Long Island, Connecticut, and beyond.
FRB is adding nine attorneys and nine staff members, including as Partners: Moira Laidlaw, David Simon, Kimberly Bliss, Samantha Lyons, Kathleen Redalieu, Bridget Eichinger, Douglas Singer, Stacey Reynolds.
FRB is thrilled to add HLS's breadth of practice in corporate, real estate, trust and estates, elder law, and labor and employment.

Consumer participation in the credit market during the COVID-19 pandemic and beyond

Retrieved on:

Mardi, avril 2, 2024

Tax, BLS, Face, La Cava, Liquidity, Journal of Economic Perspectives, Special, MRO, Recovery, Next Generation, Child, Interview, Transport, Attanasio, Consumer behaviour, DFR, Research Papers in Economics, Post-Keynesian economics, Gross domestic product, .177 caliber, Great Moderation, European Commission, Vaccine, Employment, Loan, PDF, Hall, House, ECB, Unemployment, Risk, Shock, Education, Rutgers University Press, Quarterly Journal, Policy, Real estate economics, EU Council, Woman, HHS, World Health Organization, Section 4, Clutch (eggs), MIT Press, Omicron, De Nederlandsche Bank, Social science, Federal Reserve Bank, Modigliani, EDS, JEL, Christian Social Union (UK), Female, Section 3, COVID-19, The Journal of Finance, Journal, Classification, News, Journal of Monetary Economics, Oxford Economic Papers, Death, Insurance, Journal of Economics, FRB, FED, Credit, HFCS, Economy, Deficit reduction, Vaccination, Princeton University Press, Literature, CES, Application, University of Oxford, Paper, R.E, Quarterly Journal of Economics, Section 2, European Central Bank, Civil service commission, C23, COVID, Conference, European Council, Central bank, Lifting, HH, Political economy, Consumer confidence index, European Parliament, MIT, RRF, Monetary economics, Household, Perception, Section 5, Bank, Structure, Reproduction, Website, HICP, Aimé Dossche, Working paper, Housing, Cambridge, Massachusetts, Heart, Fabbri, American Economic Review, Partner, Data, Collection, Probability, Government, Real estate

We find that credit demand is highest when

Key Points:

We find that credit demand is highest when
the first lockdown ends and it drops when supportive monetary compensation schemes are implemented.
Credit is more likely to be
accepted under favourable borrowing conditions and after the approval of national recovery plans.
We also find
that demographic, economic factors, perceptions and expectations are associated with the demand for credit and
the credit grant.
First, it adds to a rapidly growing literature on household
borrowing behaviour during the COVID-19 pandemic; see, for example, Ho et al.
We provide evidence that credit applications and credit acceptances display a different pattern over
time.
Credit is more likely to be accepted under favourable borrowing conditions and after the
approval of national recovery plans.
In almost all countries
households are significantly less likely to apply and to get their credit approved than in Germany.
In line with literature, we show that
demographic and economic factors affect the probability for credit applications and credit approval.
In addition,
the paper shows that consumer perceptions and expectations matter when they decide to apply for credit.
Introduction
The participation of households in the credit market receives wide attention in the consumer finance literature
because consumer credit enters the monetary policy transmission mechanism through the so-called ?credit
channel?: changes in credit demand and supply have an effect on consumers' spending and investment, which in
turn affect economic growth.
We use microdata from the ECB?s Consumer Expectations Survey (hereinafter CES), a survey that
measures consumer expectations and behaviour in the euro area.
Its panel dimension allows for an assessment of
how consumer behaviour changes over time and how consumers respond to critical economic shocks.
This way we can gauge how credit applications and credit acceptances change under different, almost
opposite, borrowing conditions.
We also distinguish between the demand for long-term secured loans (mortgages) and for short-term
uncollateralized loans (consumer loans).
ECB Working Paper Series No 2922
3

We use probit models to estimate the probability of the consumer to apply for credit and the credit being granted.
The rate peaks in 2020Q3 which reflects the rebound in the demand for loans when the first lockdown ended.
In almost all countries households are significantly less likely
to apply and to get their credit approved than in Germany.
However,
when it comes to credit acceptance, we observe that the two groups of households are more similar.
Finally, we find some heterogeneity with respect to the type of credit, particularly between secured and unsecured
debt.
The demand for
consumer credit is insignificant for liquid households and decreases significantly for constrained households in
the last two quarters of our timespan.
The first consists of a recently growing literature which
explores consumer behaviour in the credit market during the COVID-19 pandemic, mostly in the United States.
Sandler and Ricks (2020) show that consumers did not use credit card debt for financial liquidity in the early stage
of the COVID-19 pandemic.
(2020) report that credit card applications and new mortgage loans
declined during the first months of the pandemic in regions with more unemployment insurance claims.
Lu and
Van der Klaauw (2021) show that there was a sharp drop in consumer credit demand, especially for credit cards.
(2022) document that there was a substantial decrease in the usage of credit cards and home equity lines
of credit by Canadian consumers.
Our paper is also consonant with studies on the association between financial and demographic factors and
consumers? participation in the credit market as well as on the demand for specific types of credit.
January 2020 ? October 2020 - The two main events are the outbreak of the COVID-19 pandemic and the
consequential lockdowns in the euro area.
4 If the
respondent has applied for more than one type of credit, she is asked to refer to the most recent credit application.
Between 2021Q3 and 2022Q3 the acceptance
rate stays above the average values, mirroring the easing of credit standards for consumer credit and other lending
to households during this period.
Second, we can investigate the presence of nonlinearities in how liquidity and the credit type interact in explaining credit applications.
(2023) ? who show that in the United States the local pandemic severity had a strong
negative effect on credit card spending early in the pandemic, which diminished over time.
First, we select mortgages and consumer credit as the two mostly reported categories for secured and
13

The full estimation results are reported in Table 3.
The right-hand side panel of Figure 6 shows that the demand for consumer credit is insignificant for both liquid
and illiquid households.
It also shows that
subjective perceptions of credit access, financial concerns and expectations on interest rates matter for the demand
for credit.
In Bertola, G., Disney
R., and Grant, C. (eds) The Economics of Consumer Credit, Cambridge MA, MIT Press.
Horvath, A., Kay, B. and Wix, C. (2023) The COVID-19 shock and consumer credit: Evidence from credit card
data.
Magri, S. (2007) Italian households? debt: The participation to the debt market and the size of the loan.

RBB Bancorp Announces Stock Repurchase Program

Retrieved on:

Jeudi, février 29, 2024

RBB Bancorp (NASDAQ: RBB ) and its subsidiaries, Royal Business Bank ("the Bank") and RBB Asset Management Company ("RAM"), collectively referred to herein as "the Company", announced that its Board of Directors has authorized a stock repurchase program.

Key Points:

RBB Bancorp (NASDAQ: RBB ) and its subsidiaries, Royal Business Bank ("the Bank") and RBB Asset Management Company ("RAM"), collectively referred to herein as "the Company", announced that its Board of Directors has authorized a stock repurchase program.
Under the repurchase program, the Company may buy back up to 1,000,000 shares of its common stock, or approximately 5% of its outstanding shares, through March 31, 2026.
The repurchase program does not obligate the Company to purchase any particular number of shares.
RBB Bancorp is a community-based financial holding company headquartered in Los Angeles, California.

Climate transition risk in the banking sector: what can prudential regulation do?

Retrieved on:

Samedi, février 17, 2024

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Key Points:

Blue Forest Launches New Forest Resilience Bond (FRB) to Address Catastrophic Wildfire Threat in the Upper Mokelumne River Watershed

Retrieved on:

Jeudi, février 15, 2024

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SACRAMENTO, Calif., Feb. 15, 2024 /PRNewswire/ -- Blue Forest, a conservation finance non-profit focused on forest restoration, is proud to announce the launch of the Upper Mokelumne I Forest Resilience Bond (Upper Mokelumne I FRB) in collaboration with the Upper Mokelumne River Watershed Authority (UMRWA) and the Eldorado National Forest.

Key Points:

SACRAMENTO, Calif., Feb. 15, 2024 /PRNewswire/ -- Blue Forest, a conservation finance non-profit focused on forest restoration, is proud to announce the launch of the Upper Mokelumne I Forest Resilience Bond (Upper Mokelumne I FRB) in collaboration with the Upper Mokelumne River Watershed Authority (UMRWA) and the Eldorado National Forest.
The Upper Mokelumne I FRB aims to mitigate the growing threat of catastrophic wildfires in the Upper Mokelumne River watershed through strategic forest restoration and conservation finance.
"This partnership with Blue Forest and the launch of the Forest Resilience Bond reflect our commitment to finding innovative solutions to address the growing threat of catastrophic wildfires," said Richard Sykes, Executive Director of the Upper Mokelumne River Watershed Authority.
"The Eldorado National Forest is proud to partner with Blue Forest and the Upper Mokelumne River Watershed Authority on this critical initiative," said Joe Stout, Forest Supervisor of Eldorado National Forest.