Income

Tax Expert Recommends Caution For Work-At-Home Employees

Retrieved on: 
Wednesday, January 19, 2022 - 10:34pm

Employees who work in one state and live in another have navigated potential income tax complications for years.

Key Points: 
  • Employees who work in one state and live in another have navigated potential income tax complications for years.
  • In the article, Meermann explains the difference between the tax concepts of "domicile" and "residency."
  • A tax professional with more than twenty years of experience, Meermann has provided expert opinions to journalists at publications including The New York Times, Forbes, BusinessWeek, Kiplinger's Retirement Report and The Pittsburgh Post-Gazette.
  • Senior client service associate Victoria Romaniello, who has since departed the firm, also contributed to the article

Westbury Bancorp, Inc. Reports Net Income for the Three Months Ended December 31, 2021

Retrieved on: 
Wednesday, January 19, 2022 - 10:05pm

PEWAUKEE, Wis., Jan. 19, 2022 (GLOBE NEWSWIRE) -- Westbury Bancorp, Inc. (OTCPink: WBBW), the holding company (the Company) for Westbury Bank (the Bank), today announced net income of $2.2 million, or $0.88 per common share for the three months ended December 31, 2021 compared to net income of $2.7 million, or $1.06 per common share for the three months ended December 31, 2020.

Key Points: 
  • PEWAUKEE, Wis., Jan. 19, 2022 (GLOBE NEWSWIRE) -- Westbury Bancorp, Inc. (OTCPink: WBBW), the holding company (the Company) for Westbury Bank (the Bank), today announced net income of $2.2 million, or $0.88 per common share for the three months ended December 31, 2021 compared to net income of $2.7 million, or $1.06 per common share for the three months ended December 31, 2020.
  • Westbury Bancorp, Inc. is the holding company for Westbury Bank.
  • The Company's common shares are traded on OTCQX under the symbol WBBW.
  • Such forward-looking statements in this release are inherently subject to many uncertainties arising in the Company's operations and business environment.

Blackstone Mortgage Trust Announces Fourth Quarter and Full Year 2021 Earnings Release and Conference Call

Retrieved on: 
Wednesday, January 19, 2022 - 9:15pm

Blackstone Mortgage Trust, Inc. (NYSE: BXMT) (the Company) today announced that it will publish its fourth quarter and full year 2021 earnings presentation on its website at www.bxmt.com and file its Form 10-K pre-market on Wednesday, February 9, 2022.

Key Points: 
  • Blackstone Mortgage Trust, Inc. (NYSE: BXMT) (the Company) today announced that it will publish its fourth quarter and full year 2021 earnings presentation on its website at www.bxmt.com and file its Form 10-K pre-market on Wednesday, February 9, 2022.
  • The Company will also host a conference call the same day at 9:00 a.m.
  • Blackstone Mortgage Trust (NYSE:BXMT) is a real estate finance company that originates senior loans collateralized by commercial real estate in North America, Europe, and Australia.
  • The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events or circumstances.

Discover Financial Services Reports Fourth Quarter 2021 Net Income of $1.1 Billion or $3.64 Per Diluted Share and Full Year Net Income of $5.4 Billion or $17.83 Per Diluted Share

Retrieved on: 
Wednesday, January 19, 2022 - 9:20pm

Discover Financial Services (NYSE: DFS) today reported net income of $1.1 billion or $3.64 per diluted share for the fourth quarter of 2021, as compared to a net income of $799 million or $2.59 per diluted share for the fourth quarter of 2020.

Key Points: 
  • Discover Financial Services (NYSE: DFS) today reported net income of $1.1 billion or $3.64 per diluted share for the fourth quarter of 2021, as compared to a net income of $799 million or $2.59 per diluted share for the fourth quarter of 2020.
  • For the full year 2021, net income was $5.4 billion or $17.83 per diluted share, compared to $1.1 billion or $3.60 per diluted share for the full year 2020.
  • The fourth quarter of 2021 included a $39 million reserve release, compared to no change in reserves in the fourth quarter of 2020.
  • Discover Financial Services (NYSE: DFS) is a digital banking and payment services company with one of the most recognized brands in U.S. financial services.

KBR and Mura Awarded Contract for Innovative Plastics Recycling Technology by LG Chem

Retrieved on: 
Wednesday, January 19, 2022 - 9:30pm

HOUSTON, Jan. 19, 2022 /PRNewswire/ -- KBR (NYSE: KBR) announced today that along with Mura, it has secured a contract for its breakthrough plastics recycling technology, Hydro-PRTSM, from LG Chem, Korea.

Key Points: 
  • HOUSTON, Jan. 19, 2022 /PRNewswire/ -- KBR (NYSE: KBR) announced today that along with Mura, it has secured a contract for its breakthrough plastics recycling technology, Hydro-PRTSM, from LG Chem, Korea.
  • Under the terms of the contract, KBR will provide technology licensing and engineering to implement the innovative and scalable Hydro-PRTSM technology at LG Chem's Dangjin plant.
  • Hydro-PRTSM was developed by Mura and is licensed exclusively by KBR.
  • "We are proud to work with LG Chem to support them with their sustainability initiatives," said Doug Kelly, KBR President, Technology.

Shelton Equity Income Fund Receives Morningstar Rating Of 5 Stars

Retrieved on: 
Wednesday, January 19, 2022 - 9:18pm

DENVER, Jan. 19, 2022 /PRNewswire/ --Shelton Capital Management ("Shelton"), a multi-strategy asset manager with more than $4 billion in assets under management, is pleased to announce that the Shelton Equity Income Fund (EQTIX) received a Morningstar Rating of 5 stars among 65 Derivative Income funds, based on risk-adjusted returns as of December 31, 2021.

Key Points: 
  • DENVER, Jan. 19, 2022 /PRNewswire/ --Shelton Capital Management ("Shelton"), a multi-strategy asset manager with more than $4 billion in assets under management, is pleased to announce that the Shelton Equity Income Fund (EQTIX) received a Morningstar Rating of 5 stars among 65 Derivative Income funds, based on risk-adjusted returns as of December 31, 2021.
  • "We are proud to receive Morningstar's highest rating," said Barry Martin, Portfolio Manager of the Shelton Equity Income Fund.
  • In addition, the Fund uses options strategies, including selling covered call options, to generate additional cash flow income and enhance distribution rates to shareholders.
  • Currently, the Fund's 12-month Trailing Yield (9.45%) is the highest in its Morningstar Derivative Income category as of 12/31/21.

PARKE BANCORP, INC. ANNOUNCES FOURTH QUARTER 2021 EARNINGS

Retrieved on: 
Wednesday, January 19, 2022 - 9:15pm

The provision for loan losses decreased $1.9 million and $7.1 million for the fourth quarter of 2021 and the year ended December 31, 2021, compared to the same periods in 2020.

Key Points: 
  • The provision for loan losses decreased $1.9 million and $7.1 million for the fourth quarter of 2021 and the year ended December 31, 2021, compared to the same periods in 2020.
  • For the fourth quarter of 2021, non-interest income increased $0.7 million, compared to the same period in 2020.
  • Non-interest expense decreased $0.1 million during the fourth quarter of 2021, and increased $2.2 million for the year ended December 31, 2021, compared to the same periods in 2020.
  • Income tax expense increased $0.5 million for the fourth quarter 2021 and $3.9 million for the year ended December 31, 2021, respectively, compared to the same periods in 2020.

South Atlantic Bancshares, Inc. Reports Earnings of $1.42 per Diluted Common Share For the Year Ended December 31, 2021

Retrieved on: 
Wednesday, January 19, 2022 - 9:01pm

Consolidated net income was $2.3 million, or $0.29 per diluted common share, for the three months ended December 31, 2021, an increase of $411 thousand, or $0.05 per diluted common share, compared to the three months ended December 31, 2020.

Key Points: 
  • Consolidated net income was $2.3 million, or $0.29 per diluted common share, for the three months ended December 31, 2021, an increase of $411 thousand, or $0.05 per diluted common share, compared to the three months ended December 31, 2020.
  • Net income for the three months ended December 31, 2021 totaled $2.3 million, or $0.29 per diluted common share, compared to $1.8 million or $0.24 per diluted common shares, reported for the same three months ended December 31, 2020.
  • Noninterest income increased $1.9 million, or 23.3 percent, to $9.8 million for the twelve months ended December 31, 2021 compared to $8.0 million for the twelve months ended December 31, 2020.
  • Our effective tax rate for the twelve months ended December 31, 2021 was 19.8 percent compared to 17.6 percent for the twelve months ended December 31, 2020.

Saratoga Investment Corp. Announces Closing of Public Offering of $75 Million 4.35% Notes Due 2027

Retrieved on: 
Wednesday, January 19, 2022 - 9:05pm

Compass Point Research & Trading, LLC, Hovde Group, LLC, Ladenburg Thalmann& Co. Inc., Maxim Group LLC and Oppenheimer & Co. Inc. acted as co-managers for the offering.

Key Points: 
  • Compass Point Research & Trading, LLC, Hovde Group, LLC, Ladenburg Thalmann& Co. Inc., Maxim Group LLC and Oppenheimer & Co. Inc. acted as co-managers for the offering.
  • Investors are advised to consider carefully the investment objective, risks and charges and expenses of the Company before investing.
  • Saratoga Investment Corp. has elected to be regulated as a business development company under the Investment Company Act of 1940 and is externally-managed by Saratoga Investment Advisors, LLC, an SEC-registered investment adviser focusing on credit-driven strategies.
  • Saratoga Investment Corp. owns two SBIC-licensed subsidiaries and manages a $650 million collateralized loan obligation (the Saratoga CLO) fund.

Union Bankshares Announces Earnings for the year ended December 31, 2021 and Declares 6.1% Increase in Quarterly Dividend

Retrieved on: 
Wednesday, January 19, 2022 - 7:42pm

These changes resulted in net interest income of $9.2 million, an increase of $1.1 million, or 13.6%, quarter over quarter.

Key Points: 
  • These changes resulted in net interest income of $9.2 million, an increase of $1.1 million, or 13.6%, quarter over quarter.
  • Noninterest income was $3.0 million for the three months ended December 31, 2021 compared to $5.0 million for the same period in 2020.
  • A larger earning asset base and a $1.9 million increase in PPP fee income contributed to the increase in interest income.
  • Interest expense was $3.6 million for the year ended December 31, 2021 compared to $5.1 million for the year ended December 31, 2020.