Financial Accounting Standards Board

RBB Bancorp Announces Stock Repurchase Program

Retrieved on: 
Thursday, February 29, 2024

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 authorized a stock repurchase program.

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 authorized a stock repurchase program.
  • Under the repurchase program, the Company may buy back up to 1,000,000 shares of its common stock, or approximately 5% of its outstanding shares, through March 31, 2026.
  • The repurchase program does not obligate the Company to purchase any particular number of shares.
  • RBB Bancorp is a community-based financial holding company headquartered in Los Angeles, California.

STRATA Skin Sciences Reports Third Quarter 2023 Revenue

Retrieved on: 
Tuesday, November 14, 2023

Third Quarter 2023 and Recent Business Highlights:

Key Points: 
  • Third Quarter 2023 and Recent Business Highlights:
    Total Revenues were $8.9 million compared to $9.4 million for the third quarter of 2022, a total decrease of 6.0%.
  • “I am pleased to have rejoined the STRATA Skin Sciences team,” commented Dr. Dolev Rafaeli, Vice-Chairman, and Chief Executive Officer.
  • Global recurring revenues for the third quarter of 2023 were $5.3 million, compared to global recurring revenues of $5.8 million for the third quarter of 2022.
  • Other expense for the third quarter of 2023 was $0.4 million, compared to $0.2 million for the third quarter of 2022.

RBB Bancorp Announces Appointment of Lynn Hopkins as Interim Executive Vice President and Chief Financial Officer

Retrieved on: 
Monday, December 11, 2023

RBB Bancorp (the “Company”, “we”, “us” or “our”) (NASDAQ: RBB) is pleased to announce the appointment of Ms. Lynn M. Hopkins as Interim Executive Vice President and Chief Financial Officer of Royal Business Bank (the “Bank”) and RBB Bancorp effective December 7, 2023.

Key Points: 
  • RBB Bancorp (the “Company”, “we”, “us” or “our”) (NASDAQ: RBB) is pleased to announce the appointment of Ms. Lynn M. Hopkins as Interim Executive Vice President and Chief Financial Officer of Royal Business Bank (the “Bank”) and RBB Bancorp effective December 7, 2023.
  • Prior to joining the Company, Ms. Hopkins held the position of Executive Vice President and Chief Financial Officer, at Banc of California, Inc., a publicly traded bank holding company with $9.3 billion in assets.
  • Ms. Hopkins also held Chief Financial Officer roles at First Choice Bancorp and Commercial Bank of California, and various executive finance and corporate leadership roles at PacWest Bancorp, California Community Bancshares and Western Bancorp.
  • David Morris, Chief Executive Officer of the Company, expressed enthusiasm for Ms. Hopkins’ appointment, stating, “We are thrilled to have Lynn join us as Interim Chief Financial Officer and look forward to her contributions to the Company.

RBB Bancorp Announces Corrections to Third Quarter Earnings Release

Retrieved on: 
Tuesday, November 14, 2023

The Company had previously announced in its quarterly earnings release that the Company’s noninterest income for the three months ended September 30, 2023 was $7.7 million, which included the full amount of the $5.0 million Award.

Key Points: 
  • The Company had previously announced in its quarterly earnings release that the Company’s noninterest income for the three months ended September 30, 2023 was $7.7 million, which included the full amount of the $5.0 million Award.
  • The Company subsequently determined that the income recognition should be deferred and not included in noninterest income for the interim period.
  • The Company has also made available on its website, www.royalbusinessbankusa.com , an updated investor presentation reflecting the corrected third quarter earnings results, which contains certain historical and forward-looking information relating to the Company.
  • RBB Bancorp is a community-based financial holding company headquartered in Los Angeles, California.

LeaseQuery's Technology Brief Highlights Critical Role of Software in Facilitating Compliance and Reducing Spending

Retrieved on: 
Thursday, November 16, 2023

ATLANTA, Nov. 16, 2023 /PRNewswire-PRWeb/ -- LeaseQuery, a fast-growing software provider with solutions built to efficiently manage companies' largest areas of spend, today released the first segment of its Technology Lease Benchmark Report, which analyzes lease liabilities and reveals trends across the tech industry.

Key Points: 
  • As technology companies seek additional ways to reduce spending by investing in software, new challenges lie in the hidden costs associated with effectively managing spending related to software subscriptions and other contracts.
  • Furthermore, the data revealed in the company's Lease Benchmark Report highlights the critical role of software in facilitating compliance and reducing spending, ultimately affecting a company's bottom line.
  • As technology companies seek additional ways to reduce spending by investing in software, new challenges lie in the hidden costs associated with effectively managing spending related to software subscriptions and other contracts.
  • LeaseQuery's most recent brief emphasizes the critical role of a comprehensive SaaS spend management strategy as the ultimate key to unlocking efficiency, regulatory compliance, and reduced spending in the ever-evolving technology sector.

Bird Construction Inc. Announces Stronger Than Expected 2023 Third Quarter Financial Results

Retrieved on: 
Tuesday, November 7, 2023

Bird maintains a strong liquidity position at September 30, 2023, recording positive operating cashflows for the quarter while continuing to fund the working capital required to support the significant growth in the Company's work program.

Key Points: 
  • Bird maintains a strong liquidity position at September 30, 2023, recording positive operating cashflows for the quarter while continuing to fund the working capital required to support the significant growth in the Company's work program.
  • At the end of the third quarter, Bird had $104.1 million of cash and cash equivalents and an additional $157.0 million available under the Company's Syndicated Credit Facility.
  • Bird will host an investor webcast to discuss the quarterly results on Wednesday, November 8, 2023 at 10:00 a.m.
  • These include non-GAAP financial measures, non-GAAP financial ratios, and supplementary financial measures.

KPMG LLP Generative AI Solution Responds to Rising Tax and ESG Transparency Demands

Retrieved on: 
Monday, November 6, 2023

Cloud-based 'Impact Analyzer' wrangles data to prepare companies for imminent FASB and OECD tax disclosures

Key Points: 
  • New York, New York--(Newsfile Corp. - November 6, 2023) - KPMG LLP, the audit, tax, and advisory firm, is introducing a new generative AI-backed solution, the KPMG Tax Transparency Services - Impact Analyzer (Impact Analyzer), to help companies prepare and respond to new disclosure requirements and heightened transparency expectations from stakeholders.
  • The Impact Analyzer is part of the firm's proprietary KPMG Digital Gateway platform, which is being enhanced with a suite of generative AI solutions for Tax and ESG.
  • "Organizations should begin preparing now for mandatory tax transparency," said Greg Engel (@Greg_Engel_KPMG), Vice Chair - Tax at KPMG LLP.
  • "Tax is both a measure and a key driver of sustainability," said Brett Weaver , partner and ESG Tax Leader at KPMG LLP.

Compass Diversified Reports Third Quarter 2023 Financial Results

Retrieved on: 
Thursday, November 2, 2023

“Our third quarter results were remarkably strong, driven by Lugano’s continued outperformance and the majority of our companies performing above expectations,” said Elias Sabo, CEO of Compass Diversified.

Key Points: 
  • “Our third quarter results were remarkably strong, driven by Lugano’s continued outperformance and the majority of our companies performing above expectations,” said Elias Sabo, CEO of Compass Diversified.
  • Paid a third quarter 2023 cash distribution of $0.25 per share on CODI's common shares in October 2023.
  • On July 5, 2023, CODI announced that Mr. C. Sean Day retired from the Board of Directors (the “Board”) of Compass Group Diversified Holdings LLC, effective June 30, 2023.
  • Operating income for the third quarter of 2023 was $28.4 million compared to $43.8 million in the third quarter of 2022.

Alpine Banks of Colorado announces financial results for third quarter 2023

Retrieved on: 
Tuesday, October 31, 2023

GLENWOOD SPRINGS, Colo., Oct. 31, 2023 (GLOBE NEWSWIRE) -- Alpine Banks of Colorado (OTCQX: ALPIB) (“Alpine” or the “Company”), the holding company for Alpine Bank (the “Bank”), today announced results (unaudited) for the third quarter ended September 30, 2023.

Key Points: 
  • GLENWOOD SPRINGS, Colo., Oct. 31, 2023 (GLOBE NEWSWIRE) -- Alpine Banks of Colorado (OTCQX: ALPIB) (“Alpine” or the “Company”), the holding company for Alpine Bank (the “Bank”), today announced results (unaudited) for the third quarter ended September 30, 2023.
  • Highlights in third quarter 2023 include:
    Basic earnings per Class A common share decreased 19.0%, or $25.45, during third quarter 2023.
  • Net interest margin for third quarter 2023 was 2.87%, compared to 3.15% in second quarter 2023, and 3.49% in third quarter 2022.
  • Working together we will thrive no matter the economic conditions.”
    Net income for third quarter 2023 and second quarter 2023 was $11.7 million and $14.6 million, respectively.

Coterra Energy Reports Third-Quarter 2023 Results, Announces Quarterly Dividend

Retrieved on: 
Monday, November 6, 2023

Coterra Energy Inc. (NYSE: CTRA) (“Coterra” or the “Company”) today reported third-quarter 2023 financial and operating results.

Key Points: 
  • Coterra Energy Inc. (NYSE: CTRA) (“Coterra” or the “Company”) today reported third-quarter 2023 financial and operating results.
  • Additionally, the Company declared a quarterly dividend of $0.20 per share, provided fourth-quarter production and capital guidance, and updated full-year 2023 guidance.
  • Coterra published its 2023 Sustainability Report on November 6, 2023.
  • Coterra will host a conference call tomorrow, Tuesday, November 7, 2023, at 9:00 AM CT (10:00 AM ET), to discuss third-quarter 2023 financial and operating results.