United States Department of the Treasury

Pacific West Bancorp ("PWBK") Announces Third Quarter 2023 Earnings

Retrieved on: 
Thursday, October 26, 2023

PORTLAND, Ore., Oct. 26, 2023 /PRNewswire/ -- Pacific West Bancorp, the holding company of Pacific West Bank ("PWB"), today announced a third quarter net loss of ($205) thousand or ($0.08) per diluted share.

Key Points: 
  • PORTLAND, Ore., Oct. 26, 2023 /PRNewswire/ -- Pacific West Bancorp, the holding company of Pacific West Bank ("PWB"), today announced a third quarter net loss of ($205) thousand or ($0.08) per diluted share.
  • Non-interest income grew $103 thousand or 124.5% when compared to the prior quarter, primarily driven by the Bank's newly formed Banking-as-a-Service ("BaaS") division successfully launching three Fintech Brand Partners during the quarter.
  • Jason Wessling, PWB's President commented, "PWB's loan and deposit growth momentum continued, which was evidenced by our third quarter results.
  • Specifically, loan yield increased by 21 basis points from 5.09% in the second quarter to 5.30% in the third quarter.

Federal Home Loan Bank of Indianapolis announces third quarter 2023 dividends, reports earnings

Retrieved on: 
Thursday, October 26, 2023

2 Each year, Federal Home Loan Banks are required to allocate to the AHP 10% of earnings, defined for this purpose as income before assessments plus interest expense on mandatorily redeemable capital stock.

Key Points: 
  • 2 Each year, Federal Home Loan Banks are required to allocate to the AHP 10% of earnings, defined for this purpose as income before assessments plus interest expense on mandatorily redeemable capital stock.
  • Total assets, at September 30, 2023, were $71.0 billion, a net decrease of $1.2 billion, or 2%, from December 31, 2022.
  • Advances outstanding, at September 30, 2023, at carrying value, totaled $34.8 billion, a net decrease of $1.9 billion, or 5%, from December 31, 2022.
  • 8 Total regulatory capital, which consists of capital stock, mandatorily redeemable capital stock and retained earnings, as a percentage of total assets.

Popular, Inc. Announces Third Quarter 2023 Financial Results

Retrieved on: 
Thursday, October 26, 2023

Net interest income for the quarter ended September 30, 2023 was $534.0 million, an increase of $2.4 million when compared to the previous quarter.

Key Points: 
  • Net interest income for the quarter ended September 30, 2023 was $534.0 million, an increase of $2.4 million when compared to the previous quarter.
  • Net interest income for the BPPR segment amounted to $453.9 million for the third quarter of 2023, flat when compared to $453.1 million in net interest income during the second quarter of 2023.
  • Total deposit cost in the third quarter of 2023 was 1.68%, compared to 1.44% in the quarter ended June 30, 2023.
  • Operating expenses for the third quarter of 2023 totaled $466.0 million, an increase of $5.7 million when compared to the second quarter of 2023.

Private Bancorp of America, Inc. Announces Strong Net Income and Earnings Per Share and Exceeds $2 Billion in Assets in the Third Quarter 2023

Retrieved on: 
Friday, October 20, 2023

LA JOLLA, Calif., Oct. 20, 2023 (GLOBE NEWSWIRE) -- Private Bancorp of America, Inc. (OTCQX:PBAM), (“Company”) and CalPrivate Bank (“Bank”) announced unaudited financial results for the third fiscal quarter ended September 30, 2023. The Company reported net income of $8.5 million, or $1.47 per diluted share, for the third quarter of 2023, which represents a 33.7% increase from $6.4 million, or $1.12 per diluted share, for the third quarter of 2022. 

Key Points: 
  • The spot rate for total deposits was 2.18% as of September 30, 2023, compared to 1.67% at June 30, 2023.
  • Net interest margin for the third quarter of 2023 was 4.67% compared to 4.73% for the prior quarter and 4.99% in the third quarter of 2022.
  • The cost of total deposits was 1.92% for the third quarter of 2023 compared to 1.59% in the prior quarter.
  • Provision for income tax expense was $3.6 million for the third quarter of 2023, compared to $6.6 million for the prior quarter.

SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in PacWest Bancorp of Class Action Lawsuit and Upcoming Deadline – PACW

Retrieved on: 
Thursday, October 19, 2023

NEW YORK, Oct. 19, 2023 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against PacWest Bancorp (“PacWest” or the “Company”) (NASDAQ: PACW) and certain officers.

Key Points: 
  • NEW YORK, Oct. 19, 2023 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against PacWest Bancorp (“PacWest” or the “Company”) (NASDAQ: PACW) and certain officers.
  • To discuss this action, contact Robert S. Willoughby at [email protected] or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext.
  • PacWest operates as a holding company for its wholly-owned subsidiary, Pacific Western Bank (“PWB”), a regional bank based in Los Angeles, California.
  • Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions.

The First Bancshares, Inc. Reports Results for Third Quarter ended September 30, 2023; Increases Quarterly Dividend 4%

Retrieved on: 
Thursday, October 26, 2023

Net income available to common shareholders totaled $24.4 million for the quarter ended September 30, 2023, representing an increase of 2.4% when compared to $23.8 million for the quarter ended June 30, 2023.

Key Points: 
  • Net income available to common shareholders totaled $24.4 million for the quarter ended September 30, 2023, representing an increase of 2.4% when compared to $23.8 million for the quarter ended June 30, 2023.
  • Total loans increased $78.9 million for the quarter ended September 30, 2023, representing net growth of 6.3% on an annualized basis, as compared to the quarter ended June 30, 2023.
  • Net income available to common shareholders totaled $24.4 million for the quarter ended September 30, 2023, an increase of $0.6 million, or 2.4%, when compared to $23.8 million for the quarter ended June 30, 2023.
  • The Company recorded a provision for credit losses of $1.0 million for the quarter ended September 30, 2023 and $1.3 million for the quarter ended June 30, 2023.

West Coast Community Bancorp, Parent Company of Santa Cruz County Bank, Reports Earnings For the Quarter Ended September 30, 2023

Retrieved on: 
Tuesday, October 24, 2023

SANTA CRUZ, Calif., Oct. 24, 2023 /PRNewswire/ -- West Coast Community Bancorp ("Bancorp", OTCQX: SCZC), the parent company of Santa Cruz County Bank (the "Bank"), announced unaudited earnings for the quarter ended September 30, 2023 of $9.1 million, an increase of 10% from $8.3 million in the prior quarter and a decrease of 1% from $9.2 million in the third quarter of 2022. Basic and diluted earnings per share in the third quarter of 2023 were $1.09 and $1.08, respectively, and both improved over the prior quarter by $0.10. Basic and diluted earnings per share in the third quarter of 2023 improved over the prior year comparative quarter by $0.01 and $0.04, respectively.

Key Points: 
  • Basic and diluted earnings per share in the third quarter of 2023 improved over the prior year comparative quarter by $0.01 and $0.04, respectively.
  • Year-to-date earnings for the nine-month period ended September 30, 2023 were $26.3 million, an increase of 26% from $20.9 million over 2022.
  • Deposits totaled $1.53 billion at September 30, 2023, an increase of $61.5 million or 4%, compared to June 30, 2023.
  • The Bank's cost of funds increased nine basis points from the second quarter of 2023 of 0.78%, to 0.87% in the third quarter of 2023.

Cass Information Systems Reports Third Quarter 2023 Results

Retrieved on: 
Thursday, October 19, 2023

Cass Information Systems, Inc. (Nasdaq: CASS), (the Company or Cass) reported third quarter 2023 earnings of $0.54 per diluted share, as compared to $0.64 in the third quarter of 2022 and $0.52 in the second quarter of 2023.

Key Points: 
  • Cass Information Systems, Inc. (Nasdaq: CASS), (the Company or Cass) reported third quarter 2023 earnings of $0.54 per diluted share, as compared to $0.64 in the third quarter of 2022 and $0.52 in the second quarter of 2023.
  • The facilities clients are expected to be fully onboarded by the end of the first quarter of 2024.”
    Transportation Dollar Volumes – Transportation dollar volumes were $9.3 billion during the third quarter of 2023, a decrease of 19.8% as compared to the third quarter of 2022 and a decrease of 4.6% as compared to the second quarter of 2023.
  • Facility Expense Dollar Volumes – Facility dollar volumes totaled $5.1 billion during the third quarter of 2023, a decrease of 7.1% as compared to the third quarter of 2022 and an increase of 11.3% as compared to the second quarter of 2023.
  • Deposits – Average deposits decreased $112.3 million, or 9.5%, when compared to the third quarter of 2022 but increased $10.0 million, or 0.9% from the second quarter of 2023.

DriveWealth Launches Fixed Income and Mutual Funds Trading Worldwide

Retrieved on: 
Monday, October 23, 2023

NEW YORK, Oct. 23, 2023 /PRNewswire/ -- DriveWealth, LLC, a global fintech and pioneer in fractional investing, announced today the launch of fixed income and international mutual funds in its platform used by hundreds of partners around the world. Following its launch of options trading earlier this year, partners building investing products on the DriveWealth platform now have access to all major retail asset classes using one consistent set of APIs.

Key Points: 
  • NEW YORK, Oct. 23, 2023 /PRNewswire/ -- DriveWealth, LLC, a global fintech and pioneer in fractional investing, announced today the launch of fixed income and international mutual funds in its platform used by hundreds of partners around the world.
  • With fixed income access, customers can trade both US Treasury securities, as well as corporate bonds that trade over-the-counter in the United States.
  • DriveWealth previously added over 30,000 US mutual funds to its platform earlier this year.
  • Now, non-US investors can invest in a wide range of fund products, with its launch of Global Mutual Funds.

SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in PacWest Bancorp of Class Action Lawsuit and Upcoming Deadline – PACW

Retrieved on: 
Wednesday, October 11, 2023

NEW YORK, Oct. 11, 2023 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against PacWest Bancorp (“PacWest” or the “Company”) (NASDAQ: PACW) and certain officers.

Key Points: 
  • NEW YORK, Oct. 11, 2023 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against PacWest Bancorp (“PacWest” or the “Company”) (NASDAQ: PACW) and certain officers.
  • To discuss this action, contact Robert S. Willoughby at [email protected] or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext.
  • PacWest operates as a holding company for its wholly-owned subsidiary, Pacific Western Bank (“PWB”), a regional bank based in Los Angeles, California.
  • Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions.