SBA

Suffolk Announces Expanded and Enriched “Build With Us @ Suffolk” Program for Trade Partners, Opening Doors for Minority-, Women- and Veteran-Owned Business Enterprises in Construction

Retrieved on: 
Wednesday, January 24, 2024
Commercial Building & Real Estate, Construction & Property, Women, Men, Professional Services, Building Systems, Small Business, DEI (Diversity, Equity and Inclusion), Consumer, Residential Building & Real Estate, Mentorship, Small Business Administration, DBE, Curriculum, Fort Worth International Airport, Equity, SBA, Small business

The program has graduated more than 200 small businesses throughout the country since it began in 2012.

Key Points: 
  • The program has graduated more than 200 small businesses throughout the country since it began in 2012.
  • The hands-on curriculum led by Suffolk leadership is designed to help participating firms better understand the business practices and processes necessary to partner with Suffolk and large general contractors on projects.
  • Unlike most construction training programs, “Build With Us @ Suffolk” assigns Suffolk leaders as mentors who nurture and maintain relationships with participants after graduation.
  • “‘Build With Us @ Suffolk’ helps M/W/VBE businesses in construction by addressing challenges, including opportunity and access to projects.

John Marshall Bancorp, Inc. Reports Higher Net Interest Margin, Strong Loan Growth and Pristine Asset Quality

Retrieved on: 
Wednesday, January 24, 2024
Banking, Other Professional Services, Professional Services, Finance, Well, Table, Total, Bank, Environment, Sale, GAAP, JMSB, Federal Home Loan Banks, SBA, Cryptocurrency

Higher Net Interest Margin – Net interest margin was 2.12% for the three months ended December 31, 2023 compared to 2.08% for the three months ended September 30, 2023.

Key Points: 
  • Higher Net Interest Margin – Net interest margin was 2.12% for the three months ended December 31, 2023 compared to 2.08% for the three months ended September 30, 2023.
  • As of December 31, 2023, the Company believes it is well-positioned for the lower interest rate environment implied by interest rate futures.
  • Strong Loan Growth – Loans, net of unearned income, grew $39.8 million or 8.7% annualized from September 30, 2023 to December 31, 2023.
  • John Marshall started and finished the year with a strong balance sheet as demonstrated by our robust capital position, spotless asset quality and ample liquidity.

Colony Bankcorp Reports Fourth Quarter 2023 Results

Retrieved on: 
Wednesday, January 24, 2024
Banking, Other Professional Services, Professional Services, Finance, Total, Small Business Administration, Bank, Insurance, FHLB, Sale, Federal Home Loan Banks, SBA, Quarter, Small business, SBSL, Cryptocurrency

Colony Bankcorp, Inc. (Nasdaq: CBAN) (“Colony” or the “Company”) today reported financial results for the fourth quarter of 2023.

Key Points: 
  • Colony Bankcorp, Inc. (Nasdaq: CBAN) (“Colony” or the “Company”) today reported financial results for the fourth quarter of 2023.
  • Provision for credit losses of $1.5 million was recorded in fourth quarter of 2023 compared to $1.0 million in third quarter of 2023, and $900,000 in fourth quarter of 2022.
  • Fourth Quarter and December 31, 2023 Year to Date Results of Operations
    Net interest income, on a tax-equivalent basis, totaled $19.1 million for the fourth quarter ended December 31, 2023 compared to $21.5 million for the same period in 2022.
  • Net interest margin for the fourth quarter of 2023 was 2.70% compared to 3.23% for the fourth quarter of 2022.

Celebrating 10 Years of Excellence: Terra Site Constructors Rebrands to Terra Constructs

Retrieved on: 
Monday, January 29, 2024
MBE, Growth, Multimedia, Construction, DBE, SBE, Government, SBA

FRONT ROYAL, Va., Jan. 29, 2024 /PRNewswire-PRWeb/ -- As part of our milestone 10-year anniversary, we are thrilled to announce a significant evolution in our company's identity. Effective immediately, Terra Site Constructors will operate under the new name, Terra Constructs. This rebranding represents a pivotal moment in our journey, reflecting our growth, innovation, and commitment to excellence in the construction industry.

Key Points: 
  • Effective immediately, Terra Site Constructors will operate under the new name, Terra Constructs.
  • Effective immediately, Terra Site Constructors will operate under the new name, Terra Constructs.
  • At Terra Constructs, we remain focused on being a trusted partner—providing in-depth expertise, delivering exceptional results, and building a sustainable future.
  • For more information about Terra Constructs and our portfolio of services, visit our new website at www.terraconstructs.com .

SBA Communications Corporation Announces Tax Reporting Information for 2023 Distributions

Retrieved on: 
Tuesday, January 23, 2024
Technology, Other Construction & Property, Telecommunications, Commercial Building & Real Estate, Mobile, Wireless, Construction & Property, REIT, SBAC, SBA

SBA Communications Corporation (Nasdaq: SBAC) ("SBA" or the "Company") today announced year-end tax reporting information for its 2023 distributions. Stockholders are urged to consult with their personal tax advisors as to their specific tax treatment.

Key Points: 

SBA Communications Corporation (Nasdaq: SBAC) ("SBA" or the "Company") today announced year-end tax reporting information for its 2023 distributions. Stockholders are urged to consult with their personal tax advisors as to their specific tax treatment.

Introducing BankLink, powered by Windsor Advantage

Retrieved on: 
Tuesday, January 23, 2024
Small Business, Banking, Professional Services, Finance, Small business, BankLink, SBA, Real estate

Windsor Advantage is proud to announce the launch of BankLink , a digital platform connecting business owners with SBA lenders.

Key Points: 
  • Windsor Advantage is proud to announce the launch of BankLink , a digital platform connecting business owners with SBA lenders.
  • The digital platform is powered from start to finish by Windsor Advantage’s SBA loan experts, personalizing the business financing experience with expert-driven customer service.
  • Windsor Advantage is uniquely qualified to bring BankLink to business owners.
  • Business owners and lenders alike need a better digital infrastructure for connecting to financing,” said Mike Breckheimer, President & CEO of Windsor Advantage.

First Internet Bancorp Reports Fourth Quarter and Full Year 2023 Results

Retrieved on: 
Wednesday, January 24, 2024
Banking, Fintech, Professional Services, Finance, NIM, Compact disc, Small Business Administration, ACL, Bank, Tangibility, Insurance, FTE, Ratio, Sale, As a service, First, Webcast, First Internet Bancorp, SBA, Telephone, U.S. Bancorp, Small business, Growth

On a fully-taxable equivalent basis, net interest income for the fourth quarter of 2023 was $21.0 million, compared to $18.6 million for the third quarter of 2023, and $23.1 million for the fourth quarter of 2022.

Key Points: 
  • On a fully-taxable equivalent basis, net interest income for the fourth quarter of 2023 was $21.0 million, compared to $18.6 million for the third quarter of 2023, and $23.1 million for the fourth quarter of 2022.
  • Total interest income for the fourth quarter of 2023 was $66.3 million, an increase of 5.2% compared to the third quarter of 2023, and an increase of 45.1% compared to the fourth quarter of 2022.
  • Net interest margin (“NIM”) was 1.58% for the fourth quarter of 2023, up from 1.39% for the third quarter of 2023 and down from 2.09% for the fourth quarter of 2022.
  • Noninterest income for the fourth quarter of 2023 was $7.4 million, consistent with the third quarter of 2023, and up $1.6 million, or 27.4%, from the fourth quarter of 2022.

MNC Inspiring Success Announces Elmy Bermejo, SBA Regional Administrator as Helen F. Chavez Legacy Award 2024 Honoree

Retrieved on: 
Thursday, January 18, 2024
Philanthropy, Public Policy, Government, State, Local, Other Policy Issues, Other Philanthropy, Foundation, Region, Silicon, Family, Homelessness, HOPE, Environment, Life, Radio, Social justice, Friends, Working poor, History, United Farm Workers, Movement, MNC, SBA, Organization, Small business, Poverty, Education, Ageing

On January 27, 2024, MNC Inspiring Success will present the Helen Fabela Chavez Legacy Award to SBA Regional Administrator Elmy Bermejo at the MNC Wolfsohn Campus.

Key Points: 
  • On January 27, 2024, MNC Inspiring Success will present the Helen Fabela Chavez Legacy Award to SBA Regional Administrator Elmy Bermejo at the MNC Wolfsohn Campus.
  • In November 2021, President Biden appointed Bermejo as the Regional Administrator at SBA Region IX.
  • “This award is given to an individual who encapsulates the values of the legendary Helen Fabela Chavez and MNC Inspiring Success’s core beliefs,” says Ybarra.
  • The Helen F. Chavez Legacy Scholarship was established to help low-income first-generation students to pursue higher education to improve their lives and their families.

Mid Penn Bank Promotes Scott Micklewright to President of the Commercial and Consumer Bank

Retrieved on: 
Thursday, January 18, 2024
Finance, Public Relations, Investor Relations, Banking, Communications, Professional Services, Growth, Bank, Millersville University of Pennsylvania, MPB, SBA

Mid Penn Bank (the “Bank”), a wholly-owned subsidiary of Mid Penn Bancorp, Inc. (“Mid Penn”) (NASDAQ: MPB), is pleased to announce the promotion of Scott Micklewright to president of the commercial and consumer bank and chief revenue officer of the company.

Key Points: 
  • Mid Penn Bank (the “Bank”), a wholly-owned subsidiary of Mid Penn Bancorp, Inc. (“Mid Penn”) (NASDAQ: MPB), is pleased to announce the promotion of Scott Micklewright to president of the commercial and consumer bank and chief revenue officer of the company.
  • In this capacity, Micklewright will oversee all aspects of commercial and consumer banking including loan activity, deposit activity, cash management, interchange and credit card revenue, as well as the regional team structure.
  • Mid Penn Bank President and CEO Rory Ritrievi expressed his enthusiasm about Micklewright’s new position, stating, “Scott has an outstanding record of success at Mid Penn, and we are thrilled to promote him to president of the commercial and consumer bank.
  • “I am excited to take on this new role at Mid Penn,” Micklewright said.

RBB Bancorp Declares Quarterly Cash Dividend of $0.16 Per Common Share

Retrieved on: 
Thursday, January 18, 2024
Banking, Professional Services, Finance, Weather, RAM, COVID-19, SBA, DBO, Insurance, Royal Business Bank, Consumer protection, FRB, Failure, Terrorism, Climate change, Pandemic, Acquisition, Federal Deposit Insurance Corporation, FDIC, Risk, Annual report, Earthquake, Bank

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 common 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 common share.
  • The dividend is payable on February 9, 2024 to common shareholders of record as of January 31, 2024.
  • RBB Bancorp is a bank holding company headquartered in Los Angeles, California.
  • As of September 30, 2023, the Company had total assets of $4.1 billion.