FRB

Hon. Ruth Bogatyrow Kraft Named Chair of FRB's Labor and Employment Practice Group

Retrieved on: 
Mardi, septembre 5, 2023
Jurisprudence, Yale University, LLP, Employment, Partnership, Justice, Yale Law School, Multimedia, Labor and Employment Relations Association, Sterling Memorial Library, Organization, Collection, FRB, New York State Department of Labor, Administrative law, Professional practice of behavior analysis, Labour

Ruth Bogatyrow Kraft has been named Chair of the firm's Labor and Employment Practice Group.

Key Points: 
  • Ruth Bogatyrow Kraft has been named Chair of the firm's Labor and Employment Practice Group.
  • Ruth's practice continues to enhance FRB's capacity to advise businesses and organizations throughout the U.S.
    As an accomplished attorney and former judge with the New York State Department of Labor, Ruth has extensive experience in employment and labor law.
  • "We are delighted to have Ruth step into the role of department head for our Labor and Employment practice," Managing Partner Kenneth Falcon said.
  • "In the past 8 months, I have been privileged to participate in incredible collaborations related to employment law," FRB Partner and Chair of Labor & Employment Ruth Kraft said.

FRB Welcomes Christopher M. Slowik and Jason R. Goldfarb, Expands Real Estate Offerings

Retrieved on: 
Jeudi, août 17, 2023
LLP, Maintenance, Partnership, EV, Partner, Partner (business rank), Multimedia, Wind, Building code, Borough, FRB, Professional practice of behavior analysis, Real estate, Property management

NEW YORK, Aug. 17, 2023 /PRNewswire/ -- Falcon Rappaport & Berkman (FRB) is pleased to announce that Christopher M. Slowik, Esq.

Key Points: 
  • NEW YORK, Aug. 17, 2023 /PRNewswire/ -- Falcon Rappaport & Berkman (FRB) is pleased to announce that Christopher M. Slowik, Esq.
  • have joined the firm's Real Estate Practice Group as Partners, further expanding the firm's offerings in real estate infrastructure and zoning.
  • Both Chris and Jason provide crucial services for real estate property owners, developers and investors in the tri-state area.
  • "I am thrilled to have two experts in such niche areas of real estate practice join the team at FRB," said Managing Partner, Kenneth Falcon.

BANKFIRST CAPITAL CORPORATION Reports Second Quarter 2023 Earnings of $6.2 Million

Retrieved on: 
Jeudi, juillet 27, 2023
Federal Home Loan Banks, Uncertainty, Federal Reserve Bank, Federal Reserve Bank of St. Louis, Sycamore Bank, ERP, Sale, Acquisition, The Company, Community Facilities Program, Investment, CDFI, FRB, OTCQX, Mechanics Bank, Community development, Bank, Equitable, Bank First, Community development financial institution, Environment, Tate, Total, Video game, Cryptocurrency, Rare-earth element, Financial adviser, Mechanics

Net interest income increased 50% to $22.7 million in the second quarter of 2023 from $15.1 million in the second quarter of 2022.

Key Points: 
  • Net interest income increased 50% to $22.7 million in the second quarter of 2023 from $15.1 million in the second quarter of 2022.
  • Net interest income was $22.7 million for the second quarter of 2023, compared to $23.5 million for the first quarter of 2023, a decrease of 3%, and compared to $15.1 million for the second quarter of 2022, an increase of 50%.
  • Noninterest income was $6.1 million for the second quarter of 2023, compared to $5.5 million for the first quarter of 2023, an increase of 12%, and compared to $5.0 million for the second quarter of 2022, an increase of 24%.
  • Noninterest expense was $20.5 million for the second quarter of 2023, compared to $19.5 million for the first quarter of 2023 and $11.9 million for the second quarter of 2022, an increase of 5% and 72%, respectively.

BayCom Corp Reports 2023 Second Quarter Earnings of $7.2 Million

Retrieved on: 
Mercredi, juillet 26, 2023
Banking, Other Professional Services, Professional Services, Finance, Insurance, Public sector banks in India, FHLB, Guarini, Paycheck Protection Program, Tax, Current Expected Credit Losses, FDIC, Sale, ICS, PPP, Acquisition, Collection, FRB, CECL, SBA, Small business, Depreciation, Government, Bank, Credit, Video game, Cryptocurrency, Real estate, Rare-earth element

BayCom Corp (“BayCom” or the “Company”) (NASDAQ: BCML), the holding company for United Business Bank (the “Bank” or “UBB”), announced earnings of $7.2 million, or $0.59 per diluted common share, for the second quarter of 2023, compared to earnings of $7.2 million, or $0.57 per diluted common share, for the first quarter of 2023 and $3.9 million, or $0.29 per diluted common share, for the second quarter of 2022.

Key Points: 
  • BayCom Corp (“BayCom” or the “Company”) (NASDAQ: BCML), the holding company for United Business Bank (the “Bank” or “UBB”), announced earnings of $7.2 million, or $0.59 per diluted common share, for the second quarter of 2023, compared to earnings of $7.2 million, or $0.57 per diluted common share, for the first quarter of 2023 and $3.9 million, or $0.29 per diluted common share, for the second quarter of 2022.
  • Net interest income decreased $976,000, or 3.9%, to $24.3 million for the second quarter of 2023 from $25.3 million in the prior quarter and increased $1.1 million, or 4.8%, from $23.2 million in the same quarter a year ago.
  • Noninterest expense for the second quarter of 2023 increased $28,000, or 0.2%, to $16.6 million compared to $16.5 million for the prior quarter of 2023 and increased $1.4 million, or 8.9%, compared to $15.2 million for the same quarter in 2022.
  • The provision for income taxes increased $41,000, or 1.5%, to $2.9 million for the second quarter of 2023 compared to $2.8 million for the prior quarter of 2023 and increased $1.3 million, or 78.2%, to $1.6 million compared to the same quarter in 2022.

Bankwell Financial Group Reports Operating Results for the Second Quarter and Declares Third Quarter Dividend

Retrieved on: 
Mercredi, juillet 26, 2023
Banking, Professional Services, Finance, Insurance, Bankwell, Availability, Total, FHLB, NII, Federal, HTM, Policy, AFS, FDIC, GAAP, Aussie (financial group), Sale, Federal Reserve, Disposable household and per capita income, FRB, CECL, Capital, Bank, W Holding Company, Press release, Second, Cryptocurrency, Management, Life insurance, Gasoline

The Company's Board of Directors declared a $0.20 per share cash dividend, payable August 24, 2023 to shareholders of record on August 14, 2023.

Key Points: 
  • The Company's Board of Directors declared a $0.20 per share cash dividend, payable August 24, 2023 to shareholders of record on August 14, 2023.
  • Deposits of $2.8 billion for the quarter ended June 30, 2023, decreasing $12.0 million, or 0.4% from December 31, 2022.
  • Revenues (net interest income plus noninterest income) for the quarter ended June 30, 2023 were $25.4 million, versus $25.0 million and for the quarter ended June 30, 2022.
  • Net income for the quarter ended June 30, 2023 was $8.0 million, versus $12.0 million for the quarter ended June 30, 2022.

PARKE BANCORP, INC. ANNOUNCES SECOND QUARTER 2023 EARNINGS

Retrieved on: 
Mercredi, juillet 26, 2023
Lender option borrower option, Federal Reserve Bank, Federal Reserve Bank of St. Louis, Face, Hyde Park Bank, Tax, Sale, FRB, CECL, Growth, NOW, Family, Federal Reserve Board of Governors, Cryptocurrency, Clothing, Rare-earth element, Life insurance, Bank

Net interest income decreased 5.9% to $33.0 million for the six months ended June 30, 2023, compared to $35.1 million for the same period in 2022.

Key Points: 
  • Net interest income decreased 5.9% to $33.0 million for the six months ended June 30, 2023, compared to $35.1 million for the same period in 2022.
  • Non-interest expense increased 15.3% to $13.1 million for the six months ended June 30, 2023, compared to $11.4 million for the same period in 2022.
  • Income tax expense decreased $1.2 million for the second quarter of 2023 compared to the same period in 2022.
  • Parke Bank is committed to controlling expenses while identifying opportunities in the market, and supporting the continued strength of our Company and Parke Bank."

Stock Yards Bancorp Reports Solid Second Quarter Earnings of $27.7 Million or $0.94 per Diluted Share

Retrieved on: 
Mercredi, juillet 26, 2023
NIM, Pressure, Treasury, Insurance, Unemployment, Federal Reserve Bank, FHLB, Marketing, Financial condition report, Telephone numbers in Hungary, FDIC, Commercial property, History, Sale, Government, Federal Home Loan Banks, PPP, Trust, Acquisition, Investment, FRB, Raymond James Financial, Intangibles, Depreciation, Growth, Condition, Commercial, Bank, Federal Reserve Bank of St. Louis, Environment, Total, Clothing, Uranium mining, Video game, Cryptocurrency, Reinsurance, Real estate, Hillebrand

Total loans, excluding PPP loans, increased $571 million, or 12%, over the last 12 months, while growing $178 million during the second quarter.

Key Points: 
  • Total loans, excluding PPP loans, increased $571 million, or 12%, over the last 12 months, while growing $178 million during the second quarter.
  • Net interest income increased $3.9 million, or 7%, for the second quarter of 2023 compared to the second quarter a year ago.
  • Non-interest income increased by $1.1 million, or 5%, over the second quarter of 2022, as customer expansion enhanced fee income.
  • Total deposits decreased $149 million, or 2%, on the linked quarter, with non-interest bearing demand deposit balances contracting $79 million.

Chemung Financial Corporation Reports Second Quarter 2023 Net Income of $6.3 million, or $1.33 per Share

Retrieved on: 
Jeudi, juillet 20, 2023
Borrowing base, Insurance, Advertising, Discount window, CHMG, FHLB, Small Business Administration, Federal, Marketing, COVID-19, FDIC, GAAP, DDA, Sale, Federal Home Loan Banks, Federal government of the United States, Corporation, Federal Reserve, Investment, Nature, FRB, CECL, Chemung Canal Trust Company, Small business, ASU, Bank, Federal Open Market Committee, FOMC, Pharmaceutical industry, Video game, Real estate, Cryptocurrency, Life insurance, Security (finance)

“I’m pleased with the financial results for the second quarter,” said Anders M. Tomson, President and CEO of Chemung Financial Corporation.

Key Points: 
  • “I’m pleased with the financial results for the second quarter,” said Anders M. Tomson, President and CEO of Chemung Financial Corporation.
  • Net interest income grew $1.0 million, or 5.4% in the quarter, when compared to the second quarter of 2022.
  • Provision for credit losses increased $2.0 million for the second quarter of 2023, when compared to the second quarter of 2022.
  • Income tax expense for the second quarter of 2023 was $1.6 million compared to $2.3 million in the second quarter of 2022.

HOMB’s Safe Harbor for Uninsured Deposits, Strong Asset Quality and Profitability Among Shining Stars in the Second Quarter of 2023

Retrieved on: 
Jeudi, juillet 20, 2023
Home BancShares, FHLB, Internet, CFG, Calendar, HOMB, ROA, Trust, Home, FRB, Centennial, Internet access, Environment, Bank, Clothing, Real estate

The Company’s second quarter ROA of 1.90% is an impressive improvement from 1.84% for the first quarter and should retain a ranking in the top 10 for the second quarter.

Key Points: 
  • The Company’s second quarter ROA of 1.90% is an impressive improvement from 1.84% for the first quarter and should retain a ranking in the top 10 for the second quarter.
  • Our net interest margin was 4.28% for the three-month period ended June 30, 2023, compared to 4.37% for the three-month period ended March 31, 2023.
  • During the second quarter of 2023, there was $1.3 million of event interest income compared to event interest income of $2.1 million for the first quarter of 2023.
  • Stockholders’ equity was $3.65 billion at June 30, 2023, compared to $3.63 billion at March 31, 2023, an increase of approximately $23.2 million.

Plumas Bancorp Reports Record 2023 Earnings

Retrieved on: 
Mercredi, juillet 19, 2023
Borrowing base, Federal Reserve Bank, Federal Reserve Bank of St. Louis, Interest, FHLB, SECURE Act, Snow, Sale, PPP, Federal Reserve, Investment, Risk, FRB, CECL, Federal Reserve Board of Governors, SBA, Growth, News, Cryptocurrency, Bank, United States Treasury security

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

Key Points: 
  • The Federal Reserve Board, on March 12, 2023, announced the creation of a new Bank Term Funding Program (BTFP).
  • The Company has pledged as collateral under the BTFP securities with a par value of $96 million at June 30, 2023.
  • There were no outstanding borrowings to the FHLB, FRB or the correspondent banks at June 30, 2023 and June 30, 2022.
  • For more information on Plumas Bancorp and Plumas Bank, please visit our website at www.plumasbank.com .