Common equity

Seacoast Reports First Quarter 2024 Results

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목요일, 4월 25, 2024
Common equity, Sale, Total, Federal Reserve, Investment, FHLB, SBIC, Risk, The Company, Visa, Federal Home Loan Banks, Depreciation, Federal, Insurance, Growth, SBA, SBCF, Government, Acquisition, Workforce, Share repurchase, Marketing, FDIC, GAAP, Video game

STUART, Fla., April 25, 2024 (GLOBE NEWSWIRE) -- Seacoast Banking Corporation of Florida ("Seacoast" or the "Company") (NASDAQ: SBCF) today reported net income in the first quarter of 2024 of $26.0 million, or $0.31 per diluted share, compared to $29.5 million, or $0.35 per diluted share in the fourth quarter of 2023 and $11.8 million, or $0.15 per diluted share in the first quarter of 2023.

Key Points: 
  • Accretion on acquired loans totaled $10.6 million in the first quarter of 2024, $11.3 million in the fourth quarter of 2023, and $15.9 million in the first quarter of 2023.
  • The cost of deposits increased 19 basis points, from 2.00% in the prior quarter, to 2.19% in the first quarter of 2024.
  • Seacoast recorded $7.8 million of income tax expense in the first quarter of 2024, compared to $8.3 million in the fourth quarter of 2023, and $2.7 million in the first quarter of 2023.
  • The efficiency ratio was 66.78% in the first quarter of 2024, compared to 60.32% in the fourth quarter of 2023 and 64.62% in the prior year quarter.

Financial Institutions, Inc. Announces First Quarter 2024 Results

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목요일, 4월 25, 2024
Benefit, Common equity, Sale, NFP, Common, Federal Reserve, Investment, Nature, Bank, TCE, Tier 1 capital, As a service, Insurance, Financial institution, Risk management, Environment, Computer, Income tax, Risk-weighted asset, Acquisition, Community Reinvestment Act, Loss, Marketing, Bank statement, Five Star Bank, Community, Growth, Earnout, Video game

Net income was $2.1 million in the first quarter of 2024, compared to $9.8 million in the fourth quarter of 2023 and $12.1 million in the first quarter of 2023.

Key Points: 
  • Net income was $2.1 million in the first quarter of 2024, compared to $9.8 million in the fourth quarter of 2023 and $12.1 million in the first quarter of 2023.
  • First quarter 2024 financial results were negatively impacted by the Company's previously disclosed deposit-related fraud event, which was the primary driver of noninterest expense variances from the linked and year-ago periods.
  • Net interest margin was 2.78% in the current quarter and the fourth quarter of 2023, and 3.09% in the first quarter of 2023.
  • The effective tax rate was 14.7% for the first quarter of 2024, 34.5% for the fourth quarter of 2023, and 18.7% for the first quarter of 2023.

South Plains Financial, Inc. Reports First Quarter 2024 Financial Results

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목요일, 4월 25, 2024
Common equity, Sale, Federal Reserve Bank, Insurance, Environment, Bank, City Bank, SPFI, Eastern Time Zone, AOCI, Growth, Video game

LUBBOCK, Texas, April 25, 2024 (GLOBE NEWSWIRE) -- South Plains Financial, Inc. (NASDAQ:SPFI) (“South Plains” or the “Company”), the parent company of City Bank (“City Bank” or the “Bank”), today reported its financial results for the quarter ended March 31, 2024.

Key Points: 
  • LUBBOCK, Texas, April 25, 2024 (GLOBE NEWSWIRE) -- South Plains Financial, Inc. (NASDAQ:SPFI) (“South Plains” or the “Company”), the parent company of City Bank (“City Bank” or the “Bank”), today reported its financial results for the quarter ended March 31, 2024.
  • Net income for the first quarter of 2024 was $10.9 million, compared to $10.3 million for the fourth quarter of 2023 and $9.2 million for the first quarter of 2023.
  • Diluted earnings per share for the first quarter of 2024 was $0.64, compared to $0.61 for the fourth quarter of 2023 and $0.53 for the first quarter of 2023.
  • South Plains will host a conference call to discuss its first quarter 2024 financial results today, April 25, 2024, at 5:00 p.m., Eastern Time.

Amalgamated Financial Corp. Reports First Quarter 2024 Financial Results; Stellar Deposit Growth; Net Interest Margin Rises to 3.49%

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목요일, 4월 25, 2024
Common equity, Sale, Total, Investment, Capital, ICS, AMAL, One-Way (novel), Earnings call, Tax, PACE, CECL, Optimism, Eastern Time Zone, Share repurchase, Amalgamated Bank, PACS, GAAP, Bank

Net interest income was $68.0 million for the first quarter of 2024, compared to $67.3 million for the fourth quarter of 2023.

Key Points: 
  • Net interest income was $68.0 million for the first quarter of 2024, compared to $67.3 million for the fourth quarter of 2023.
  • Net interest margin was 3.49% for the first quarter of 2024, an increase of 5 basis points from 3.44% in the fourth quarter of 2023.
  • Prepayment penalties had no impact on our net interest margin in the first quarter of 2024, which is the same as in the prior quarter.
  • As previously announced, Amalgamated Financial Corp. will host a conference call to discuss its first quarter 2024 results today, April 25, 2024 at 11:00am (Eastern Time).

First Merchants Corporation Announces First Quarter 2024 Earnings Per Share

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목요일, 4월 25, 2024
Common equity, Sale, ACL, Webcast, Retirement, Risk-weighted asset, Wealth, Share repurchase, FDIC, First Merchants Corporation, Investment, Bank

Net income and diluted earnings per common share, excluding non-core charges of $3.5 million incurred during the quarter, totaled $50.1 million and $0.85, respectively.

Key Points: 
  • Net income and diluted earnings per common share, excluding non-core charges of $3.5 million incurred during the quarter, totaled $50.1 million and $0.85, respectively.
  • First Merchants Corporation (the “Corporation) has reported first quarter 2024 net income available to common stockholders of $47.5 million compared to $63.6 million during the same period in 2023.
  • Diluted earnings per common share for the period totaled $0.80 compared to the first quarter of 2023 result of $1.07 per share.
  • First Merchants Corporation will conduct a fourth quarter earnings conference call and web cast at 11:30 a.m. (ET) on Thursday, April 25, 2024.

Peapack-Gladstone Financial Corporation Reports First Quarter Results

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화요일, 4월 23, 2024
Common equity, Table, Commercial, Bank, Wealth management, Security (finance), Form 8-K, PGC, Environment, EPS

BEDMINSTER, NJ, April 23, 2024 (GLOBE NEWSWIRE) -- via NewMediaWire -- Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) (the “Company”) announces its first quarter 2024 financial results.

Key Points: 
  • BEDMINSTER, NJ, April 23, 2024 (GLOBE NEWSWIRE) -- via NewMediaWire -- Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) (the “Company”) announces its first quarter 2024 financial results.
  • The net interest margin declined to 2.20% for the quarter ended March 31, 2024, compared to 2.29% for the quarter ended December 31, 2023 and 2.88% for the quarter ended March 31, 2023.
  • During the first quarter of 2024, deposits grew $202.6 million to $5.48 billion, loans decreased $73.7 million to $5.36 billion and overnight borrowings were reduced by $284.3 million.
  • Wealth Management fee income was $14.4 million in Q1 2024, which amounted to 27% of total revenue for the quarter.

First Commonwealth Announces First Quarter 2024 Earnings; Increases Quarterly Dividend

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화요일, 4월 23, 2024
Financial management, First Commonwealth Bank, Common equity, Sale, Polish–Lithuanian Commonwealth, Total, FTE, Capital, Tangibility, ACL, SBA, Bank, Acquisition, Centric, Small Business Administration, Bank statement, Hospital, PCD, ID, GAAP, Video game

The net interest margin for the first quarter of 2024 was 3.52% as compared to 3.65% in the prior quarter and 4.01% in the year ago quarter.

Key Points: 
  • The net interest margin for the first quarter of 2024 was 3.52% as compared to 3.65% in the prior quarter and 4.01% in the year ago quarter.
  • Provision for credit losses totaled $4.2 million in the first quarter of 2024 as compared to ($1.9) million in the previous quarter.
  • First Commonwealth Financial Corporation declared a common stock quarterly dividend of $0.13 per share, which represents a 4.0% increase from the previous quarter.
  • First Commonwealth will host a quarterly conference call to discuss its financial results for the first quarter of 2024 on Wednesday, April 24, 2024 at 2:00 PM (ET).

Dime Community Bancshares, Inc. Reports First Quarter 2024 Results With Earnings Per Share Increasing By 11% Versus the Prior Quarter

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화요일, 4월 23, 2024
Federal Home Loan Banks, Common equity, Sale, Webcast, FDIC, Total, Investment, Telephone, FHLB, Lubów, News, Growth

HAUPPAUGE, N.Y., April 23, 2024 (GLOBE NEWSWIRE) -- Dime Community Bancshares, Inc. (NASDAQ: DCOM) (the “Company” or “Dime”), the parent company of Dime Community Bank (the “Bank”), today reported net income available to common stockholders of $15.9 million for the quarter ended March 31, 2024, or $0.41 per diluted common share, compared to $14.5 million, or $0.37 per diluted common share, for the quarter ended December 31, 2023, and $35.5 million, or $0.92 per diluted common share for the quarter ended March 31, 2023.

Key Points: 
  • Mr. Lubow commented, “Given the strong deposit growth, we proactively reduced our FHLB borrowings in the first quarter.
  • Total non-interest expense was $52.5 million during the first quarter of 2024, $53.9 million during the fourth quarter of 2023, and $47.5 million during the first quarter of 2023.
  • The efficiency ratio was 64.0% during the first quarter of 2024, compared to 65.0% during the linked quarter and 50.1% during the first quarter of 2023.
  • Book value per common share was $28.84 at March 31, 2024 compared to $28.58 at December 31, 2023.

First Bank Announces First Quarter 2024 Net Income of $12.5 Million

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월요일, 4월 22, 2024
Common equity, Sale, Total, Investment, Growth, First Bank, Information technology, Environment, Pressure, Bank, Acquisition, Marketing, Advertising, PCD

Net income for the first quarter of 2024 was $12.5 million, or $0.50 per diluted share, compared to $7.0 million, or $0.36 per diluted share, for the first quarter of 2023.

Key Points: 
  • Net income for the first quarter of 2024 was $12.5 million, or $0.50 per diluted share, compared to $7.0 million, or $0.36 per diluted share, for the first quarter of 2023.
  • In the first quarter of 2024, the Bank recorded non-interest income totaling $2.0 million, compared to $1.0 million during the same period in 2023 and non-interest income measuring $(3.0) million during the fourth quarter of 2023.
  • Non-interest expense for the first quarter of 2024 was $17.8 million, an increase of $4.3 million, or 31.9%, compared to $13.5 million for the prior year quarter.
  • The Bank recorded net recoveries of $202,000 during the first quarter of 2024, excluding the $5.5 million PCD loan charge-off, compared to net charge-offs of $209,000 in the fourth quarter of 2023 and net charge-offs of $315,000 in the first quarter of 2023.

CBB Bancorp, Inc. Reports First Quarter 2024 Financial Results

Retrieved on: 
금요일, 4월 26, 2024
Banking, Professional Services, Finance, Common equity, Sale, FHLB, Bank, Federal Home Loan Banks, ACL, SBA, MMDA, Risk-weighted asset, CBB, DDA, The Company, Credit

The return on average assets for the first quarter 2024 was 1.32% compared to 1.54% for the fourth quarter 2023 and 1.59% for the first quarter 2023.

Key Points: 
  • The return on average assets for the first quarter 2024 was 1.32% compared to 1.54% for the fourth quarter 2023 and 1.59% for the first quarter 2023.
  • The return on average equity for the first quarter 2024 was 9.57%, compared to 11.94% for the fourth quarter 2023 and 13.45% for the first quarter 2023.
  • The efficiency ratio for the first quarter 2024 was 54.68%, compared to 49.45% for the fourth quarter 2023 and 51.04% for the first quarter 2023.
  • The net interest margin for the first quarter 2024 was 3.77%, compared to 3.86% for the fourth quarter 2023 and 4.38% for the first quarter 2023.