CRE

Bank of the James Announces Fourth Quarter, Full Year of 2023 Financial Results and Declaration of Increased Dividend

Retrieved on: 
Friday, February 2, 2024
Book, Growth, CFO, Pressure, Fed, CECL, MSA, C&I, Environment, Overalls, Federal funds, United States Treasury security, PWW, Total, NOW, Sale, Bank, Treasury, White, CRE

Fourth quarter 2023 net interest margin and interest spread declined moderately compared to the comparable period in 2022.

Key Points: 
  • Fourth quarter 2023 net interest margin and interest spread declined moderately compared to the comparable period in 2022.
  • Total interest income increased to $10.49 million in the fourth quarter of 2023 compared with $8.95 million a year earlier.
  • Commercial construction loans increased throughout 2023, rising to $21.97 million at December 31, 2023 from $12.14 million at December 31, 2022.
  • The Company increased the dividend by 25% from the dividend paid in the fourth quarter of 2023.

Janover Named 2024 Commercial Real Estate Tech Influencer by GlobeSt.com

Retrieved on: 
Tuesday, January 30, 2024
Organization, News, Commercial property, ALM (company), Internet celebrity, CRE, Property management

Boca Raton, FL, Jan. 30, 2024 (GLOBE NEWSWIRE) -- Janover Inc. (Nasdaq:  JNVR) (“Janover” or the “Company”), an AI-enabled platform for commercial real estate transactions, today announced that it was recognized by GlobeSt.com as a 2024 Influencer in Commercial Real Estate (CRE) Tech.

Key Points: 
  • Boca Raton, FL, Jan. 30, 2024 (GLOBE NEWSWIRE) -- Janover Inc. (Nasdaq:  JNVR) (“Janover” or the “Company”), an AI-enabled platform for commercial real estate transactions, today announced that it was recognized by GlobeSt.com as a 2024 Influencer in Commercial Real Estate (CRE) Tech.
  • GlobeSt.com is the premier online destination for original and timely commercial real-estate content.
  • “We are honored to be recognized by GlobeSt.com as a leader in CRE technology,” said Blake Janover, Chairman and CEO of Janover Inc. “I am proud of our team that goes above and beyond, every day, to bring innovative solutions to the commercial real estate industry.
  • From generative AI for lenders; to marketplace solutions for borrowers; and everything in between - we’re modernizing commercial transactions.

Green Street Releases 2024 U.S. Sector Outlooks with Expanded Historical Market-Level Data

Retrieved on: 
Thursday, February 1, 2024
Professional Services, Data Analytics, Residential Building & Real Estate, Commercial Building & Real Estate, Finance, Construction & Property, Multimedia, Intelligence, Growth, Self, COVID-19, Pressure, Apartment, Microsoft Excel, Research, News, Outlook, Renting, Street, Publication, Retirement, CRE, NOI, Software as a service, Analytics, Data

To accompany the Outlook reports, Green Street is also now providing downloadable back-up Excel data files and historical time series for market-level effective rent, rent growth, and occupancy data that is continuously updated.

Key Points: 
  • To accompany the Outlook reports, Green Street is also now providing downloadable back-up Excel data files and historical time series for market-level effective rent, rent growth, and occupancy data that is continuously updated.
  • Despite significant value degradation, the Office sector remains the most unattractively priced traditional sector, justifying an underweight.
  • Request a sample report for more information on Green Street’s 12 U.S. and Pan-European Sector Outlooks.
  • Green Street is the preeminent provider of actionable commercial real estate research, news, data, analytics, and advisory services in the U.S. and Europe.

The Future of Real Estate is Data-driven: New Robin Solution Empowers Landlords

Retrieved on: 
Tuesday, January 30, 2024
Data Management, Technology, Mobile, Wireless, Building Systems, Other Construction & Property, Commercial Building & Real Estate, Construction & Property, Legal, Small Business, Insurance, Human Resources, Finance, REIT, Consulting, Banking, Accounting, Professional Services, Other Technology, Software, Internet, Commercial property, Organization, Tenant, SVP, Environment, Robin, RBN, CRE, Property management

To equip landlords to thrive in this new environment, Robin , the leading workplace management platform, introduced an industry-defining product today that proactively enables commercial real estate (CRE) to digitize their buildings, make data-driven decisions, and increase tenant satisfaction.

Key Points: 
  • To equip landlords to thrive in this new environment, Robin , the leading workplace management platform, introduced an industry-defining product today that proactively enables commercial real estate (CRE) to digitize their buildings, make data-driven decisions, and increase tenant satisfaction.
  • “Robin Building Network (RBN) was created to arm landlords and property owners with data to better understand how their buildings are being used by tenants.
  • "In today's dynamic market, proactivity is key, and RBN empowers us to be at the forefront of tenant satisfaction.
  • The evolving commercial real estate landscape demands a data-driven approach with vacancies at an all-time high .

Cross River’s Commercial Real Estate Team Achieves Strong Growth Across Diverse Asset Classes in 2023

Retrieved on: 
Tuesday, January 30, 2024
Finance, Banking, Professional Services, Commercial Building & Real Estate, Construction & Property, Growth, Knowledge, Equal housing lender, FDIC, Community, Cross River Bank, Housing, YOY, EVP, Mandate, CRE, Acquisition, Health care, CBG, FRESH, Construction, Bank

Cross River Bank (“Cross River”), a New Jersey State chartered FDIC-insured bank and Equal Housing Lender known for its diversified commercial real estate (“CRE”) lending program and deep market experience, finished 2023 with impressive year-over-year (YOY) origination growth across multiple asset classes.

Key Points: 
  • Cross River Bank (“Cross River”), a New Jersey State chartered FDIC-insured bank and Equal Housing Lender known for its diversified commercial real estate (“CRE”) lending program and deep market experience, finished 2023 with impressive year-over-year (YOY) origination growth across multiple asset classes.
  • The Group’s Lender Finance, Construction and Healthcare teams achieved 48 percent, 34 percent and 16 percent YOY growth in originations, respectively.
  • Combined, the team, a division of the newly rebranded Commercial Banking Group, originated $803 million across 68 loans nationwide for various asset classes.
  • Wolf brings a wealth of knowledge and experience and will serve an instrumental position helping the team increase loan growth.

Deerhold Ltd. Announces New Sales Leadership Appointments

Retrieved on: 
Thursday, February 1, 2024
Lyric, Management information system, Marketing, Senior, MIS, Bowling Green State University, SVP, Medicaid, TARA, Software as a service, Digital technology, Medicare, CRE, Management

BOSTON, Feb. 1, 2024 /PRNewswire-PRWeb/ -- Deerhold Ltd., a digital technology company offering advanced data management and healthcare SaaS solutions, is pleased to welcome Pete Titas as Senior VP of Sales and Marketing, and congratulate Scott MacEwen on his appointment to Senior VP of Strategic Markets. The pair will lead sales efforts focused on delivering Deerhold's flagship products in the healthcare transparency industry, Contract Rate Explorer (CRE) and TARA.

Key Points: 
  • The pair will lead sales efforts focused on delivering Deerhold's flagship products in the healthcare transparency industry, Contract Rate Explorer (CRE) and TARA .
  • These recent appointments are a reflection of our confidence in the value of our solutions and the market demand for them.
  • These recent appointments are a reflection of our confidence in the value of our solutions and the market demand for them.
  • We are extremely excited to have Pete join us as he's uniquely qualified to lead sales and marketing as a key member of our management team.

Pacific Valley Bancorp Announces Its Fourth Quarter 2023 Financial Results

Retrieved on: 
Tuesday, January 30, 2024
PPP, Growth, OTC Markets Group, CFO, Pressure, CECL, AFS, Marketing, Credit, Sale, Bank, Insurance, Federal Home Loan Banks, CRE, Cryptocurrency

SALINAS, Calif., Jan. 30, 2024 /PRNewswire/ -- Pacific Valley Bancorp (OTC Pink: PVBK) announced its unaudited financial results for the fourth quarter 2023.

Key Points: 
  • SALINAS, Calif., Jan. 30, 2024 /PRNewswire/ -- Pacific Valley Bancorp (OTC Pink: PVBK) announced its unaudited financial results for the fourth quarter 2023.
  • Net income for the quarter ended December 31, 2023, was $1.2 million representing a decrease of 6.7% or $85 thousand from the quarter ended September 30, 2023.
  • Net interest margin for the fourth quarter 2023 equated to 3.69% compared with 4.03% for the same period in 2022.
  • For the Company's subsidiary, Pacific Valley Bank, equity increased to $68.1 million at December 31, 2023 compared to $65.8 million at September 30, 2023.

Middlefield Banc Corp. Reports 2023 Full-Year Financial Results

Retrieved on: 
Friday, January 26, 2024
Total, Employment, CRE, Liberty, Commercial, Environment, Sale, Investment, Retail banking, Federal Home Loan Banks, Small business, FOMC, Growth

MIDDLEFIELD, Ohio, Jan. 26, 2024 (GLOBE NEWSWIRE) -- Middlefield Banc Corp. (NASDAQ: MBCN) today reported financial results for the three and twelve-months ended December 31, 2023.

Key Points: 
  • MIDDLEFIELD, Ohio, Jan. 26, 2024 (GLOBE NEWSWIRE) -- Middlefield Banc Corp. (NASDAQ: MBCN) today reported financial results for the three and twelve-months ended December 31, 2023.
  • Net interest income for the 2023 fourth quarter increased 9.2% to $15.4 million, compared to $14.1 million for the 2022 fourth quarter.
  • For the 2023 twelve-month period, noninterest income was $6.7 million, compared to $6.7 million for the same period last year.
  • At December 31, 2023, the Company had brokered deposits of $90.3 million, compared to $5.0 million at December 31, 2022.

First Western Reports Fourth Quarter 2023 Financial Results

Retrieved on: 
Thursday, January 25, 2024
Development, ASC, Subordination, Total, FHLB, Interest, CRE, Federal Reserve, Construction, Commercial, Income tax, GAAP, Federal Home Loan Banks, Pressure, AUM, Growth, Bank

DENVER, Jan. 25, 2024 (GLOBE NEWSWIRE) -- First Western Financial, Inc. (“First Western” or the “Company”) (NASDAQ: MYFW), today reported financial results for the fourth quarter ended December 31, 2023.

Key Points: 
  • Gross revenue(1) was $22.5 million for the fourth quarter of 2023, a decrease of 2.7%, from $23.1 million for the third quarter of 2023.
  • The yield on interest-earning assets increased 16 basis points to 5.51% in the fourth quarter of 2023 from 5.35% in the third quarter of 2023 and the cost of interest-bearing deposits increased 19 basis points to 3.94% in the fourth quarter of 2023 from 3.75% in the third quarter of 2023.
  • The Company’s efficiency ratio(1) was 80.8% in the fourth quarter of 2023, compared with 78.8% in the third quarter of 2023 and 67.7% in the fourth quarter of 2022.
  • During the fourth quarter of 2023 the Company recorded a provision expense of $3.9 million, compared to a provision expense of $0.3 million in the third quarter of 2023 and a $1.2 million provision expense in the fourth quarter of 2022.

BayFirst Financial Corp. Reports Fourth Quarter 2023 Results; Highlighted by Net Interest Margin Expansion and Strong SBA Loan Originations

Retrieved on: 
Thursday, January 25, 2024
CECL, C&I, ACL, Bank, Federal, FHLB, CRE, Federal Reserve, Government, Sale, Federal Home Loan Banks, Conference, SBA, Bolt, FRB, PPP, Growth

Earnings benefited from higher net interest income and lower provision for credit losses during the fourth quarter, as compared to the third quarter of 2023.

Key Points: 
  • Earnings benefited from higher net interest income and lower provision for credit losses during the fourth quarter, as compared to the third quarter of 2023.
  • Net interest margin including discontinued operations increased by 12 bps to 3.48% in the fourth quarter of 2023, from 3.36% in the third quarter of 2023, primarily due to increases in loan yields.
  • Net income was $1.7 million for the fourth quarter of 2023, compared to $1.9 million in the third quarter of 2023 and $1.3 million in the fourth quarter of 2022.
  • The net interest margin expanded by 12 bps to 3.48% in the fourth quarter of 2023, from 3.36% in the third quarter of 2023.