SBIC

Sheppard Mullin Continues Private Equity Team Expansion With Partner Michael Wilson

Retrieved on: 
Tuesday, April 9, 2024
Professional Services, Legal, Finance, SBIC, Corporation, Private equity, Venture capital, Sale, Arlington Capital Partners, University, Small business, IBM, Investment company, Illinois College, Financial services

Sheppard, Mullin, Richter & Hampton LLP is pleased to announce that Michael Wilson has joined the firm as a partner in the Corporate practice group.

Key Points: 
  • Sheppard, Mullin, Richter & Hampton LLP is pleased to announce that Michael Wilson has joined the firm as a partner in the Corporate practice group.
  • Based in the Chicago office, Wilson is a highly regarded corporate transactional lawyer representing a variety of private equity and venture capital funds, particularly in the healthcare, technology and renewable energy industries.
  • Wilson handles mergers and acquisitions, debt finance transactions, venture capital transactions and general corporate matters for private equity funds and venture capital funds, startups and entrepreneurs, banks and non-bank lenders, and other public and private businesses.
  • He has significant private equity experience, including with small business investment companies (SBICs), representing funds and limited partners in portfolio investments, limited partner investments, fund formation and SBIC licensing.

Splash Beverage Group Appoints Dr. John Paglia, a Professor of Finance at Pepperdine Graziadio Business School, to Its Board of Directors

Retrieved on: 
Friday, March 1, 2024
Pepperdine University, Bloomberg Businessweek, CPA, Certified Public Accountant, University, Gannon University, Entrepreneurship, Small business, Chartered Financial Analyst, Growth, Drug discovery, MBA, CFA, Library, Audit committee, Faculty, The Wall Street Journal, Simulations Plus, Pepperdine Graziadio Business School, Congress, CNBC, SBIC, Research, Management

Dr. Paglia, age 56, is a tenured Professor of Finance at the Pepperdine Graziadio Business School where he teaches graduate level classes on the topics of corporate finance, business valuation, and mergers and acquisitions.

Key Points: 
  • Dr. Paglia, age 56, is a tenured Professor of Finance at the Pepperdine Graziadio Business School where he teaches graduate level classes on the topics of corporate finance, business valuation, and mergers and acquisitions.
  • in Finance from Gannon University, and is a Certified Public Accountant, Chartered Financial Analyst, and is NACD Directorship Certified™.
  • "We are honored to welcome John to our board of directors," said Robert Nistico, CEO and Chairman of Splash Beverage Group.
  • As a board member, I look forward to contributing to Splash’s vision and growth while working to increase shareholder value."

SBA Administrator Guzman Announces Important SBIC Program Milestones at White House Convening of Investment Industry Leaders

Retrieved on: 
Thursday, February 15, 2024
CFO, Investment, National Association, Small business, SVP, Growth, AUM, Small Business Administration, National Economic Council, SBIA, Federation, White, Human, Private sector, MITRE, Lockheed Martin, Policy, SBIC, NAIC, SBA

Administrator Guzman was joined by over 60 leaders from private investment firms, limited partners, and industry associations.

Key Points: 
  • Administrator Guzman was joined by over 60 leaders from private investment firms, limited partners, and industry associations.
  • Image Description: Administrator Guzman addresses attendees at the White House convening on reforms to SBA’s $42 billion Small Business Investment Company (SBIC) Program.
  • Image Description: Administrator Guzman (L) participates in a panel discussion about reforms to the SBA’s Small Business Investment Company (SBIC) Program.
  • Image Description: Administrator Guzman (C) listens to panelists at the White House convening on reforms to SBA’s $42 billion Small Business Investment Company (SBIC) Program.

SBA Unveils Updated Equity Action Plan to Advance the Biden-Harris Administration’s Commitment to Investing in Equity

Retrieved on: 
Wednesday, February 14, 2024
SAM, Small Business Administration, Health, Human, KEGG, SBLC, General Services Administration, SBA, GSA, Entrepreneurship, Small business, Management, Growth, White blood cell, Master, National Pan-Hellenic Council, Federal, Veteran, Community, American Jewish Committee, Negotiation, Partnership, Woman, Rural area, Commerce, Capital, Central business district, Face, MAS, Survivor, SDB, Government, Executive, Policy, SBIC

“The SBA’s updated Equity Action Plan recognizes the tremendous value that diverse entrepreneurs bring to our economy in terms of job creation, innovation, and domestic and international competition.

Key Points: 
  • “The SBA’s updated Equity Action Plan recognizes the tremendous value that diverse entrepreneurs bring to our economy in terms of job creation, innovation, and domestic and international competition.
  • Some SBA programs utilize a specific definition for underserved communities and/or disadvantaged small businesses as outlined in program statutes and regulations.
  • Improve Access to Disaster Assistance by modernizing technology, streamlining the application process, and increasing support for underserved disaster survivors navigating the application process.
  • The SBA’s regular engagement with the small business community and its stakeholders helped inform the Equity Action Plan .

Red River Bancshares, Inc. Reports Fourth Quarter and Year-End 2023 Financial Results

Retrieved on: 
Tuesday, January 30, 2024
EPS, American Banker, Small business, Growth, Veterans Memorial Boulevard, HFI, FHLB, Community, FOMC, FTE, Environment, AFS, SBIC, HTM, CRA, Small Business Administration, Federal Reserve, Share repurchase, Federal, Total, Sale, Bank, Federal Open Market Committee, Federal Home Loan Banks, Pleasure, CFA, Movement

ALEXANDRIA, La., Jan. 30, 2024 (GLOBE NEWSWIRE) -- Red River Bancshares, Inc. (the “Company”) (Nasdaq: RRBI), the holding company for Red River Bank (the “Bank”), announced today its financial results for the fourth quarter and year ended 2023.

Key Points: 
  • ALEXANDRIA, La., Jan. 30, 2024 (GLOBE NEWSWIRE) -- Red River Bancshares, Inc. (the “Company”) (Nasdaq: RRBI), the holding company for Red River Bank (the “Bank”), announced today its financial results for the fourth quarter and year ended 2023.
  • Net income for the fourth quarter of 2023 was $8.3 million, which was $271,000, or 3.4%, higher than the prior quarter.
  • Net interest income for the fourth quarter of 2023 was $21.3 million compared to $20.7 million for the prior quarter.
  • Provision expense was $250,000 for the fourth quarter of 2023 compared to $185,000 for the third quarter of 2023.

Capital Southwest Announces Financial Results for Third Fiscal Quarter Ended December 31, 2023 and Announces Total Dividends of $0.63 per share for the Quarter Ended March 31, 2024

Retrieved on: 
Monday, January 29, 2024
Increment, Small Business Administration, Share repurchase, Deutsche Bank, Sale, Commitment, SBA, Growth, Assumption, IRR, Revenue recognition, Pediatric dentistry, Equity, Small business, Orthodontics, SIB, UTI, NAV, CDC, Investment, Acquisition, Exercise, Preferred stock, Credit, SBIC, Treasury, Common equity, I-45, Line of credit, Note, Security (finance)

For the quarter ended December 31, 2023, total operating expenses (excluding interest expense) were $7.3 million, compared to $5.9 million in the prior quarter.

Key Points: 
  • For the quarter ended December 31, 2023, total operating expenses (excluding interest expense) were $7.3 million, compared to $5.9 million in the prior quarter.
  • For the quarter ended December 31, 2023, interest expense was $11.5 million as compared to $10.5 million in the prior quarter.
  • For the quarter ended December 31, 2023, total pre-tax net investment income was $29.8 million, compared to $26.4 million in the prior quarter.
  • During the quarter ended December 31, 2023, the Company did not repurchase any shares of the Company’s common stock under the share repurchase program.

ACNB Corporation Reports Fourth Quarter and 2023 Financial Results

Retrieved on: 
Thursday, January 25, 2024
Insurance, FDIC, ACNB, SBIC, Policy, Corporation, Partnership, FTE, Sale, Acquisition, Risk management, Internet, Marketing, Growth, Cryptocurrency

GETTYSBURG, Pa., Jan. 25, 2024 (GLOBE NEWSWIRE) -- ACNB Corporation (NASDAQ: ACNB) (“ACNB” or the “Corporation”), financial holding company for ACNB Bank and ACNB Insurance Services, Inc., announced net income of $4.1 million, or $0.48 per diluted earnings per share, for the three months ended December 31, 2023 compared to net income of $10.2 million, or $1.20 per diluted earnings per share, for the three months ended December 31, 2022.

Key Points: 
  • GETTYSBURG, Pa., Jan. 25, 2024 (GLOBE NEWSWIRE) -- ACNB Corporation (NASDAQ: ACNB) (“ACNB” or the “Corporation”), financial holding company for ACNB Bank and ACNB Insurance Services, Inc., announced net income of $4.1 million, or $0.48 per diluted earnings per share, for the three months ended December 31, 2023 compared to net income of $10.2 million, or $1.20 per diluted earnings per share, for the three months ended December 31, 2022.
  • The financial results for both the three and twelve month periods ended December 31, 2023 were impacted by the repositioning of the investment securities portfolio as announced on Form 8-K on December 15, 2023.
  • ACNB repurchased 13,838 shares of ACNB common stock during the three months ended December 31, 2023 at a cost of $452 thousand.
  • For the twelve months ended December 31, 2023, ACNB repurchased 61,066 shares of ACNB common stock at a cost of $2.0 million.

BayCom Corp Reports 2023 Fourth Quarter Earnings of $6.4 Million

Retrieved on: 
Thursday, January 25, 2024
Small Business, Banking, Professional Services, Finance, FDIC, SBIC, Collection, Bank, Paycheck Protection Program, Trust, ICS, Insurance, FHLB, Forgiveness, Current Expected Credit Losses, Federal funds, Sale, Tax, Acquisition, SBA, Small business, Guarini, Government, FRB, PPP, Cryptocurrency

Net interest income decreased $1.3 million, or 5.2%, to $23.5 million for the fourth quarter of 2023 from $24.8 million in the prior quarter, and decreased $2.9 million, or 11.1%, from $26.5 million in the same quarter a year ago.

Key Points: 
  • Net interest income decreased $1.3 million, or 5.2%, to $23.5 million for the fourth quarter of 2023 from $24.8 million in the prior quarter, and decreased $2.9 million, or 11.1%, from $26.5 million in the same quarter a year ago.
  • Average interest-earning assets decreased $30.4 million, or 1.2%, and increased $34.2 million, or 1.36%, for the fourth quarter of 2023 compared to the third quarter of 2023 and the fourth quarter of 2022, respectively.
  • Noninterest income for the fourth quarter of 2023 increased $1.0 million, or 61.8%, to $2.7 million compared to $1.7 million in the prior quarter of 2023, and increased $1.8 million, or 196.0%, compared to $904,000 for the fourth quarter of 2022.
  • Noninterest expense for the fourth quarter of 2023 decreased $1.4 million, or 8.7%, to $15.1 million compared to $16.5 million for the prior quarter of 2023, and decreased $1.2 million, or 7.6%, compared to $16.3 million for the fourth quarter of 2022.

Farmers National Banc Corp. Reports Solid Results for Fourth Quarter of 2023

Retrieved on: 
Wednesday, January 24, 2024
Finance, Banking, Professional Services, Asset Management, Insurance, FDIC, Growth, SBIC, Trust, FHLB, Federal, Sale, Investment, Acquisition, Farmer, PPP

Net interest income for the three months ended December 31, 2023, totaled $32.8 million in the fourth quarter of 2023 compared to $33.8 million in the third quarter of 2023 and $29.4 million for the fourth quarter of 2022.

Key Points: 
  • Net interest income for the three months ended December 31, 2023, totaled $32.8 million in the fourth quarter of 2023 compared to $33.8 million in the third quarter of 2023 and $29.4 million for the fourth quarter of 2022.
  • The Company recorded $12.2 million in noninterest income during the fourth quarter of 2023 compared to $8.2 million during the fourth quarter of 2022.
  • Other noninterest income increased $910,000 in the fourth quarter of 2023 compared to the prior year’s fourth quarter.
  • Merger related costs were $452,000 for the fourth quarter of 2023 compared to $584,000 in the fourth quarter of 2022.

Freedom Financial Holdings Announces Earnings for Fourth Quarter and Full Year 2023

Retrieved on: 
Friday, January 26, 2024
Freedom, Real estate owned, SBIC, Bank, Efficiency ratio, Federal funds, Fraud, Sale, Investment, Federal Home Loan Banks, Calendar, Comprehensive income, SBA, AOCI, OTCQX, Fidelity bond, Federal Reserve Bank, Asset, Collectable, PPP, Cryptocurrency

Pre-provision pretax income1 for the fourth quarter was $2,031,758 compared to pre-provision, pretax income of $1,730,376 in the prior quarter.

Key Points: 
  • Pre-provision pretax income1 for the fourth quarter was $2,031,758 compared to pre-provision, pretax income of $1,730,376 in the prior quarter.
  • Despite the loss in the fourth quarter, tangible book value per share2 increased by 2.70% during the quarter and by 2.01% in 2023.
  • Non-interest-bearing demand deposits decreased by $24.15 million during the fourth quarter and comprised 15.63% of total deposits at the end of the fourth quarter.
  • AOCI increased during the fourth quarter of 2023 due to a decline in unrealized losses related to available-for-sale securities.