Federal funds

Interactive Brokers Expected to Raise Interest Rates to USD 4.58% on Instantly Available Cash

Retrieved on: 
torsdag, maj 4, 2023
Professional Services, Business, Other Professional Services, Finance, Asset Management, Banking, Cash management, Fed, Interest rate, Interactivity, Federal funds, USD, IBKR, Interactive Brokers, Bank, Online shopping

Interactive Brokers (Nasdaq: IBKR), an automated global electronic broker, today announced that clients are expected to earn up to USD 4.58% on instantly available cash balances over USD 10,000.

Key Points: 
  • Interactive Brokers (Nasdaq: IBKR), an automated global electronic broker, today announced that clients are expected to earn up to USD 4.58% on instantly available cash balances over USD 10,000.
  • Unlike brokerages that offer significantly lower rates, Interactive Brokers pays interest directly to client brokerage accounts eliminating the need for sweeps accounts, funds or programs and enabling cash to be instantly available.
  • Plus, with Interactive Brokers’ straightforward Cash Management service, clients can use instantly available cash balances to trade and transact from one account.
  • Interactive Brokers’ Cash Management is a simple way for investors to earn at superior rates and oversee their finances without multiple accounts and services.

Northern Trust Universe Data: Diminishing Recession Concerns Bring Positive Results in the First Quarter

Retrieved on: 
torsdag, maj 4, 2023
Banking, Professional Services, Finance, Universe, Fed, Risk, Optimism, Northern Trust, Endowment, Federal funds, St Jude's GAA, Federal Reserve, Education, Communities and Justice Directorates, Russell, Risk register, Government, Cryptocurrency, Life insurance, ERISA

The median return for institutional asset owners included in the Northern Trust All Funds Over $100 million plan universe was 4.1% for the quarter ending March 31, 2023.

Key Points: 
  • The median return for institutional asset owners included in the Northern Trust All Funds Over $100 million plan universe was 4.1% for the quarter ending March 31, 2023.
  • The Northern Trust Corporate (ERISA) universe median return for the quarter was 5.0%.
  • The Northern Trust Public Funds universe median returned 3.5% while the Northern Trust Foundation and Endowment (F&E) universe produced a 3.4% median return for the quarter.
  • “This, combined with China’s reopening and falling energy prices, allowed global markets to post positive results for the quarter.”
    The Northern Trust U.S. equity program universe generated a 7.3% median return for the first quarter.

Pinnacle Bancshares Announces Results for First Quarter Ended March 31, 2023

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torsdag, maj 4, 2023
Banking, Accounting, Professional Services, Finance, Insurance, Paycheck Protection Program, PPP, Bank, OTCBB, FDIC, CECL, Federal funds, Pinnacle Bank Arena, Sale, Cryptocurrency

There were no PPP amortized loan fees recorded during the three months ended March 31, 2023.

Key Points: 
  • There were no PPP amortized loan fees recorded during the three months ended March 31, 2023.
  • For the three months ended March 31, 2023, return on average assets was 1.43%, compared to 1.29% in the comparable 2022 period.
  • The Company’s net interest margin was 3.56% for the three months March 31, 2023, compared to 4.06% for the three months ended March 31, 2022.
  • Dividends of $.27 per share were paid to shareholders during the first quarter of 2023 and $.25 per share during the first quarter 2022.

NBC Bancorp, Inc. Reports Results For First Quarter 2023

Retrieved on: 
onsdag, maj 3, 2023
Banking, Professional Services, Finance, Federal Reserve Bank, Tax, PPP, Bank holding company, Bank, National bank, Federal funds

The unaudited financial performance of NBC Bancorp, Inc. (“Bancorp”), (OTCPK:NCXS), for the first quarter of 2023 showed solid deposit and loan growth, despite turmoil in the banking industry.

Key Points: 
  • The unaudited financial performance of NBC Bancorp, Inc. (“Bancorp”), (OTCPK:NCXS), for the first quarter of 2023 showed solid deposit and loan growth, despite turmoil in the banking industry.
  • For the first quarter 2023, net income was $326,175, or $0.69 per share, compared to $904,960, or $1.91 per share, for the first quarter of 2022.
  • PPP fee income ended in 2022 and therefore, there was no amount of PPP fee income included in first quarter 2023 earnings, compared to $183,804, or $0.39 per share, net of taxes, in the first quarter of 2022.
  • Total deposits increased year-over-year by $9.1 million, or 2%, while non-municipal deposits increased year-over-year by $31.6 million, or 11%.

First Keystone Announces First Quarter 2023 Earnings (Unaudited)

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fredag, april 28, 2023
Banking, Professional Services, Lender option borrower option, OTC Markets Group, Federal Home Loan Banks, FKYS, Dain Rauscher Wessels, Tradition, Bank statement, Disclosure, Paycheck Protection Program, Securities and Exchange Commission (Nigeria), ATM, Corporation, SBA, Community Bank, Growth, Security (finance), Bank, Fraud, Federal funds

First Keystone Corporation (OTC Pink: FKYS, the “Corporation”), parent company of First Keystone Community Bank, reported net income for the three months ended March 31, 2023 of $1,357,000.

Key Points: 
  • First Keystone Corporation (OTC Pink: FKYS, the “Corporation”), parent company of First Keystone Community Bank, reported net income for the three months ended March 31, 2023 of $1,357,000.
  • Net income per share was $0.23 while dividends totaled $0.28 per share for the three months ended March 31, 2023.
  • The Corporation recognized $58,000 and $74,000 of tax credits from low-income housing partnerships in the first quarter of 2023 and 2022, respectively.
  • For more information on First Keystone Community Bank or its parent company, First Keystone Corporation, please contact Elaine A. Woodland at 570-752-3671.

Axos Financial, Inc. Reports Fiscal Third Quarter 2023 Results

Retrieved on: 
torsdag, april 27, 2023
Banking, Professional Services, Finance, Advertising, W Holding Company, FDIC, Sale, Federal funds, Risk, Webcast, Growth, Security (finance), Bank, Holding company, Cryptocurrency, Real estate, Axus

“We had another strong quarter, with double-digit year-over-year growth in deposits, net interest income and book value per share,” stated Greg Garrabrants, President and Chief Executive Officer of Axos.

Key Points: 
  • “We had another strong quarter, with double-digit year-over-year growth in deposits, net interest income and book value per share,” stated Greg Garrabrants, President and Chief Executive Officer of Axos.
  • “Axos Securities continues to benefit from rising interest rates, as reflected in the 166% year-over-year increase in broker-dealer fee income and the $19.5 million pretax income this quarter.
  • The Bank’s common equity tier 1 capital ratio was 11.55% at March 31, 2023 compared to 11.28% at December 31, 2022.
  • The conference call will be webcast live, and both the webcast and the earnings supplement may be accessed at Axos’ website, investors.axosfinancial.com.