FRB

Territorial Bancorp Inc. Announces Third Quarter 2023 Results

Retrieved on: 
Vendredi, octobre 27, 2023
Insurance, Sale, FRB, FDIC, Federal Deposit Insurance Corporation, Bank, Federal Home Loan Banks, Wildfire, Clifton Bancorp, Inc., Share repurchase, Maintenance, Interest, Federal Reserve Bank of St. Louis, Federal Reserve Bank, Environment, ESOP, FHLB, Compact disc, CECL, Investment, Cryptocurrency, Holding company

The Board of Directors approved a quarterly cash dividend of $0.05 per share, representing Territorial Bancorp Inc.’s 56th consecutive quarterly dividend.

Key Points: 
  • The Board of Directors approved a quarterly cash dividend of $0.05 per share, representing Territorial Bancorp Inc.’s 56th consecutive quarterly dividend.
  • HONOLULU, Hawaii, Oct. 27, 2023 (GLOBE NEWSWIRE) -- Territorial Bancorp Inc. (NASDAQ: TBNK) (the “Company”), headquartered in Honolulu, Hawaii, the holding company parent of Territorial Savings Bank, announced net income of $880,000, or $0.10 per diluted share, for the three months ended September 30, 2023.
  • The dividend is expected to be paid on November 24, 2023, to stockholders of record as of November 9, 2023.
  • Total interest income was $17.38 million for the three months ended September 30, 2023, compared to $16.15 million for the three months ended September 30, 2022.

BANKFIRST CAPITAL CORPORATION Reports Third Quarter 2023 Earnings of $8.4 Million

Retrieved on: 
Vendredi, octobre 27, 2023
Sale, FRB, Bank, Federal Home Loan Banks, Microenterprise Education Initiative, OTCQX, Acquisition, Bank First, Sycamore Bank, Federal Reserve Bank of St. Louis, Equitable, Community Development Financial Institutions Fund, Federal Reserve Bank, Environment, Community development financial institution, Mechanics Bank, Community development, Risk, Mechanics, Tate, CDFI, Community Facilities Program, Total, Visa requirements for Turkish citizens, ERP, Video game, Cryptocurrency, Rare-earth element, Basel

Net interest income increased 26% to $21.6 million in the third quarter of 2023 from $17.1 million in the third quarter of 2022.

Key Points: 
  • Net interest income increased 26% to $21.6 million in the third quarter of 2023 from $17.1 million in the third quarter of 2022.
  • Net interest income was $21.6 million for the third quarter of 2023, compared to $22.7 million for the second quarter of 2023, a decrease of 5%, and compared to $17.1 million for the third quarter of 2022, an increase of 26%.
  • Noninterest income was $10.1 million for the third quarter of 2023, compared to $6.1 million for the second quarter of 2023, an increase of 65%, and compared to $5.4 million for the third quarter of 2022, an increase of 87%.
  • Noninterest expense was $20.0 million for the third quarter of 2023, compared to $20.5 million for the second quarter of 2023 and $15.2 million for the third quarter of 2022, an decrease of 2.1% and an increase of 32.0%, respectively.

Stock Yards Bancorp Reports Solid Third Quarter Earnings of $27.1 Million or $0.92 Per Diluted Share

Retrieved on: 
Mercredi, octobre 25, 2023
Sale, Condition, FRB, Treasury, Bank, Federal Home Loan Banks, Government, WM, Construction, History, National Keelung Commercial & Industrial Vocational Senior High School, Pressure, Intangibles, Acquisition, PPP, Financial condition report, Federal Reserve Bank of St. Louis, Federal Reserve Bank, Environment, Growth, Commercial, Marketing, FHLB, Depreciation, Unemployment, Total, Investment, Iron ore, Life insurance, Video game, Insurance, Reinsurance, Cryptocurrency, Online shopping, Trust, Central Kentucky Regional Airport

LOUISVILLE, Ky., Oct. 25, 2023 (GLOBE NEWSWIRE) -- Stock Yards Bancorp, Inc. (NASDAQ: SYBT), parent company of Stock Yards Bank & Trust Company, with offices in Louisville, central, eastern and northern Kentucky, as well as the Indianapolis, Indiana and Cincinnati, Ohio metropolitan markets, today reported earnings of $27.1 million, or $0.92 per diluted share, for the third quarter ended September 30, 2023. This compares to net income of $28.5 million, or $0.97 per diluted share, for the third quarter of 2022. The results for the third quarter of 2023 were highlighted by near-record loan growth, linked quarter deposit growth and strong levels of non-interest income.

Key Points: 
  • “Total loans, excluding PPP loans, increased $559 million, or 11%, over the last 12 months, of which $201 million was achieved during the third quarter.
  • In addition, Wealth Management and Trust (“WM&T) had another strong quarter, with net new business growth outweighing unfavorable market conditions.
  • Deposit balances increased $194 million, or 3%, on the linked quarter, as interest bearing deposits increased $246 million and non-interest bearing deposits contracted by $51 million.
  • Non-interest income increased $36,000 to $22.9 million on the linked quarter, consistent with expansion in treasury management fees and card income.

Chemung Financial Corporation Reports Third Quarter 2023 Net Income of $7.6 million, or $1.61 per Share

Retrieved on: 
Mardi, octobre 24, 2023
DDA, Federal Reserve responses to the subprime crisis, Sale, FRB, ATM, Bank, Federal Home Loan Banks, Pressure, CHMG, Federal government of the United States, Federal Reserve, Share repurchase, Federal Open Market Committee, ASU, Maintenance, Acceleration, FOMC, Federal, Chemung Canal Trust Company, Environment, Growth, Small business, Small Business Administration, FHLB, Corporation, CECL, Borrowing base, Discount window, Unemployment, Investment, Pharmaceutical industry, Real estate, Cryptocurrency, Life insurance, Insurance, Video game, Security (finance)

“The Company again demonstrated solid financial performance in the third quarter,” said Anders M. Tomson, President and CEO of Chemung Financial Corporation."

Key Points: 
  • “The Company again demonstrated solid financial performance in the third quarter,” said Anders M. Tomson, President and CEO of Chemung Financial Corporation."
  • Fully taxable equivalent net interest margin was 2.73% for the third quarter 2023, compared to 3.08% for the same period in the prior year.
  • The provision for credit losses decreased $0.8 million for the third quarter of 2023, when compared to the third quarter of 2022.
  • Income tax expense for the third quarter of 2023 increased to $2.1 million compared to $1.7 million in the third quarter of 2022.

HOMB on Track for $400 Million Year

Retrieved on: 
Jeudi, octobre 19, 2023
ROA, FRB, Home BancShares, Home, Centennial, Internet access, HOMB, Environment, Trust, Internet, FHLB, CFG, Calendar, Bank, Clothing, Real estate

Purchase accounting accretion on acquired loans was $2.4 million and $2.7 million and average purchase accounting loan discounts were $29.9 million and $32.5 million for the three-month periods ended September 30, 2023 and June 30, 2023, respectively.

Key Points: 
  • Purchase accounting accretion on acquired loans was $2.4 million and $2.7 million and average purchase accounting loan discounts were $29.9 million and $32.5 million for the three-month periods ended September 30, 2023 and June 30, 2023, respectively.
  • Net interest income on a fully taxable equivalent basis was $203.2 million for the three-month period ended September 30, 2023, and $209.1 million for the three-month period ended June 30, 2023.
  • Non-performing loans at September 30, 2023 were $12.6 million, $17.3 million, $27.2 million, $372,000, $3.0 million and $30.4 million in the Arkansas, Florida, Texas, Alabama, Shore Premier Finance and Centennial CFG markets, respectively, for a total of $90.9 million.
  • Non-performing assets at September 30, 2023 were $12.8 million, $17.5 million, $27.5 million, $372,000, $3.0 million and $30.4 million in the Arkansas, Florida, Texas, Alabama, Shore Premier Finance and Centennial CFG markets, respectively, for a total of $91.6 million.

Plumas Bancorp Reports Record 2023 Earnings

Retrieved on: 
Mercredi, octobre 18, 2023
Sale, FRB, Federal Reserve, Federal Reserve Board of Governors, News, PPP, Interest, Federal Reserve Bank of St. Louis, Federal Reserve Bank, Growth, Risk, FHLB, CECL, Borrowing base, Investment, SBA, SECURE Act, Cryptocurrency, Bank, Security (finance), Core, United States Treasury security

The Federal Reserve Board, on March 12, 2023, announced the creation of a new Bank Term Funding Program.

Key Points: 
  • The Federal Reserve Board, on March 12, 2023, announced the creation of a new Bank Term Funding Program.
  • The Company has pledged as collateral under the BTFP securities with a par value of $94 million at September 30, 2023.
  • There were no outstanding borrowings to the FHLB, FRB or the correspondent banks at September 30, 2023 and September 30, 2022.
  • For more information on Plumas Bancorp and Plumas Bank, please visit our website at www.plumasbank.com .

BayCom Corp Reports 2023 Third Quarter Earnings of $6.6 Million

Retrieved on: 
Jeudi, octobre 19, 2023
Banking, Professional Services, Finance, Insurance, Sale, FRB, FDIC, Forgiveness, Bank, Paycheck Protection Program, Tax, Federal Home Loan Banks, Pressure, ICS, Acquisition, Federal funds, PPP, Federal Reserve Bank, Trust, Small business, FHLB, Current Expected Credit Losses, Credit, Depreciation, Collection, SBA, Government, Public sector banks in India, Security (finance), Video game, Cryptocurrency, Rare-earth element, Real estate, Debtor

Noninterest income for the third quarter of 2023 increased $568,000, or 52.3%, to $1.7 million compared to $1.1 million in the prior quarter of 2023 and decreased $728,000, or 30.6%, compared to $2.4 million for the third quarter of 2022.

Key Points: 
  • Noninterest income for the third quarter of 2023 increased $568,000, or 52.3%, to $1.7 million compared to $1.1 million in the prior quarter of 2023 and decreased $728,000, or 30.6%, compared to $2.4 million for the third quarter of 2022.
  • Noninterest expense for the third quarter of 2023 decreased $38,000, or 0.2%, to $16.5 million compared to $16.6 million for the prior quarter of 2023, and increased $423,000, or 2.6%, compared to $16.1 million for the third quarter of 2022.
  • Cumulative available commitments on these lines totaled $65.0 million at September 30, 2023, June 30, 2023 and September 30, 2022.
  • Shareholders’ equity totaled $307.3 million at September 30, 2023, compared to $307.0 million at June 30, 2023, and $314.4 million at September 30, 2022.

RBB Bancorp Declares Quarterly Cash Dividend of $0.16 Per Share

Retrieved on: 
Jeudi, octobre 19, 2023
Banking, Professional Services, Finance, Federal Deposit Insurance Corporation, Bank, COVID-19, Consumer protection, Insurance, FRB, Investor Protection and Securities Reform Act of 2010, Terrorism, Acquisition, Failure, Royal Business Bank, LIBOR, FDIC, Weather, Earthquake, RAM, DBO, Bank Secrecy Act, Public Company Accounting Oversight Board, Provisions of the Dodd–Frank Wall Street Reform and Consumer Protection Act, London Interbank Bid Rate, SBA, Climate change, Financial Accounting Standards Board, Risk, Pandemic, Annual report

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 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 share.
  • The dividend is payable on November 10, 2023 to common shareholders of record as of October 30, 2023.
  • RBB Bancorp is a bank holding company headquartered in Los Angeles, California.
  • As of June 30, 2023, the Company had total assets of $4.1 billion.

Falcon Rappaport & Berkman Launches Employee Retention Credit (ERC) Audit Defense Task Force

Retrieved on: 
Mardi, octobre 17, 2023
Professional practice of behavior analysis, Multimedia, LLP, Government, FRB, IRS, Task force, Middle Class Working Families Task Force, Marketing, ERC, Negotiation, Property management

NEW YORK, Oct. 17, 2023 /PRNewswire/ -- Falcon Rappaport & Berkman (FRB) has launched a task force to help businesses defend Employee Retention Credit (ERC) audits and investigations.

Key Points: 
  • NEW YORK, Oct. 17, 2023 /PRNewswire/ -- Falcon Rappaport & Berkman (FRB) has launched a task force to help businesses defend Employee Retention Credit (ERC) audits and investigations.
  • The IRS has recently expressed concerns about questionable ERC claims, often orchestrated by unethical "ERC Mills", leaving business owners vulnerable to severe penalties.
  • If you or your business require ERC assistance, contact the Task Force at [email protected] .
  • Falcon Rappaport & Berkman LLP is a full-service law firm proudly advising clients seeking solutions to their most complex matters.

RBB Bancorp Announces Termination of Agreement to Acquire Gateway Bank, F.S.B.

Retrieved on: 
Jeudi, septembre 28, 2023
Finance, Banking, Professional Services, Small Business, Asset Management, Insurance, Financial Accounting Standards Board, Failure, Investor Protection and Securities Reform Act of 2010, Pandemic, Acquisition, Public Company Accounting Oversight Board, SBA, Provisions of the Dodd–Frank Wall Street Reform and Consumer Protection Act, Risk, Consumer protection, Federal Deposit Insurance Corporation, LIBOR, COVID-19, FDIC, Terrorism, Bank Secrecy Act, Climate change, Earthquake, Annual report, FRB, F.S.B, DBO, London Interbank Bid Rate, Weather, Bank

RBB Bancorp (NASDAQ:RBB) announced today that, effective September 28, 2023, Gateway Bank, F.S.B.

Key Points: 
  • RBB Bancorp (NASDAQ:RBB) announced today that, effective September 28, 2023, Gateway Bank, F.S.B.
  • announced that it and RBB Bancorp have mutually agreed to terminate the definitive agreement originally entered into on December 28, 2021.
  • RBB Bancorp is a community-based financial holding company headquartered in Los Angeles, California.
  • These forward-looking statements are subject to risks and uncertainties that could cause actual results, performance and/or achievements to differ materially from those projected.