Federal Home Loan Banks

Summit Bank Group Reports 2024 1st Quarter Earnings

Retrieved on: 
Wednesday, April 24, 2024
Banking, Professional Services, Finance, Sale, FHLB, Federal Home Loan Banks, Federal Reserve Bank, Security (finance), SBA, Comparable, Pressure, Bank, OTC Markets Group, Growth

Summit Bank Group (OTC Pink: SBKO)

Key Points: 
  • Summit Bank Group (OTC Pink: SBKO)
    Q1 2024 Net Income - $2.4 million or $0.31 per fully diluted share.
  • Q1 2024 Net Income increased from $0.30 per share for Q1 2023 and $0.22 per share for Q4 2023.
  • Summit Bank Group reported net income for the first quarter of $2.4 million or 31 cents per fully diluted share.
  • Comparable earnings for the quarter ended December 31, 2023 were $1.68 million or 22 cents per fully diluted share, representing an increase of 41 percent or 9 cents to earnings and earnings per fully diluted share, respectively.

Muncy Columbia Financial Corporation Reports First Quarter 2024 Earnings

Retrieved on: 
Tuesday, April 23, 2024
Banking, Professional Services, Finance, Federal Home Loan Banks, Sale, Bank statement, Corporation, Bank, Columbia

Muncy Columbia Financial Corporation (“Corporation”) (OTCQX: CCFN), parent company of Journey Bank (“Bank”), has released its unaudited financial statements for the first quarter of 2024.

Key Points: 
  • Muncy Columbia Financial Corporation (“Corporation”) (OTCQX: CCFN), parent company of Journey Bank (“Bank”), has released its unaudited financial statements for the first quarter of 2024.
  • Earnings per share, basic and diluted, for the quarters-ended March 31, 2024 and 2023 were $1.13 and $0.93, respectively.
  • Total consolidated assets amounted to $1,573,271,000 at March 31, 2024, as compared to $1,639,779,000 at December 31, 2023.
  • The Corporation remains well capitalized, with an equity to assets ratio of 9.84% as of March 31, 2024 and 9.38% at December 31, 2023.

East West Bancorp Reports Net Income for First Quarter of 2024 of $285 Million and Diluted Earnings Per Share of $2.03

Retrieved on: 
Tuesday, April 23, 2024
Banking, Professional Services, Finance, Sale, HFI, Total, Investment, AFS, Deposit insurance, Federal Home Loan Banks, Lunar New Year, NIM, FDIC, FX, GAAP, Growth, C&I, Bank

First quarter 2024 average loans of $51.9 billion grew $0.7 billion, or 1%, from the fourth quarter of 2023.

Key Points: 
  • First quarter 2024 average loans of $51.9 billion grew $0.7 billion, or 1%, from the fourth quarter of 2023.
  • First Quarter Earnings – First quarter 2024 net income was $285 million, and diluted earnings per share (“EPS”) were $2.03.
  • Noninterest income totaled $79 million in the first quarter, a decrease of $1 million, or 1%, from $80 million in the fourth quarter.
  • First quarter 2024 provision for credit losses was $25 million, compared with $37 million in the fourth quarter of 2023.

FHLBank Chicago Announces Q1 2024 Financial Highlights

Retrieved on: 
Monday, April 22, 2024
Commercial Building & Real Estate, Personal Finance, Construction & Property, Finance, Banking, Small Business, Professional Services, Residential Building & Real Estate, Small business, Accounting, Investment, Housing, Federal Home Loan Banks, AHP, Security (finance), Statement, Condition, Form, Acquisition, Economic development, Community

The Federal Home Loan Bank of Chicago (FHLBank Chicago) today announced its preliminary and unaudited financial results for the first quarter of 2024.

Key Points: 
  • The Federal Home Loan Bank of Chicago (FHLBank Chicago) today announced its preliminary and unaudited financial results for the first quarter of 2024.
  • As of the first quarter, FHLBank Chicago has committed over $110 million to affordable housing and community development initiatives for 2024.
  • “Coming off of the market events during the past year, FHLBank Chicago reached new heights in supporting our member financial institutions and the communities they serve,” said Michael Ericson, president and chief executive officer of FHLBank Chicago.
  • FHLBank Chicago has committed more than $25 million to these programs in 2024 to target affordable housing development, access to financial education and funding for small businesses.

Independent Bank Corp. Reports First Quarter Net Income of $47.8 Million

Retrieved on: 
Thursday, April 18, 2024
Banking, Professional Services, Finance, Sale, Internet, Total, Federal Home Loan Banks, Rockland Trust, Snow, Conference, Credit, Share repurchase, Advertising, FDIC, Growth, Real estate

Independent Bank Corp. (Nasdaq Global Select Market: INDB), parent of Rockland Trust Company, today announced 2024 first quarter net income of $47.8 million, or $1.12 per diluted share, compared to 2023 fourth quarter net income of $54.8 million, or $1.26 per diluted share.

Key Points: 
  • Independent Bank Corp. (Nasdaq Global Select Market: INDB), parent of Rockland Trust Company, today announced 2024 first quarter net income of $47.8 million, or $1.12 per diluted share, compared to 2023 fourth quarter net income of $54.8 million, or $1.26 per diluted share.
  • In conjunction with deposit growth during the quarter, total borrowings declined by $193.0 million, or 15.8%, during the first quarter of 2024.
  • Noninterest income of $29.9 million for the first quarter of 2024 represented a decrease of $2.1 million, or 6.6%, as compared to the prior quarter.
  • The first quarter provision for credit losses was $5.0 million as compared to $5.5 million for the fourth quarter of 2023.

Equity Bancshares, Inc. First Quarter Results Highlighted by Record Net Interest Income and Net Interest Margin Expansion

Retrieved on: 
Tuesday, April 16, 2024
Banking, Accounting, Professional Services, Finance, Sale, Table, Total, Investment, Treasury, Federal Home Loan Banks, Equity Bank, Federal Reserve Bank, Webcast, Bank, Acquisition, Quarter, Share repurchase, GAAP

Excluding the impact of the acquisition, loans grew by $30.6 million, or 3.70% annualized

Key Points: 
  • Excluding the impact of the acquisition, loans grew by $30.6 million, or 3.70% annualized
    The Company realized expansion in net interest income and net interest margin, as the benefits of previously announced strategic transactions were realized.
  • Total net interest income for the quarter was $44.2 million, an all-time high for the Company.
  • Excluding the impact of the merger expenses and the loss on sale of securities taken by the Company during the previous quarter, operating net income was $12.1 million.
  • Further, the addition of non-interest bearing deposits positively impacted total deposit costs during the quarter, limiting expansion to 18 basis points and comparatively improving net interest income.

Schwab Reports First Quarter Results

Retrieved on: 
Monday, April 15, 2024
Professional Services, Finance, Asset Management, Fintech, Consulting, Banking, Personal Finance, SSB, Charles Schwab Corporation, Federal Home Loan Banks, News, CSB, Compact disc, Acquisition, GAAP

U.S. News & World Report’s Best Investing Platforms award was given on April 8, 2024 and is for 2024-2025.

Key Points: 
  • U.S. News & World Report’s Best Investing Platforms award was given on April 8, 2024 and is for 2024-2025.
  • Schwab paid a licensing fee to U.S News & World Report for use of the award and logos.
  • TD Ameritrade, Inc. (Ameritrade) Member SIPC, a subsidiary of The Charles Schwab Corporation, received the highest score in the do-it-yourself segment of the J.D.
  • Supplemental funding includes repurchase agreements, Schwab Bank Retail Certificates of Deposit (CDs), and Federal Home Loan Bank balances.

Two Federal Home Loan Bank of Dallas Members Recognized for Community Investment Commitments

Retrieved on: 
Friday, April 12, 2024
Professional Services, Philanthropy, Residential Building & Real Estate, Other Philanthropy, Construction & Property, Banking, FHLB, Housing, Federal Home Loan Banks, CARE, Bank, Multimedia

The Federal Home Loan Bank of Dallas (FHLB Dallas) recognized two member financial institutions for their commitment to community investment by naming them 2024 Community Area Revitalization Efforts (CARE) Award recipients.

Key Points: 
  • The Federal Home Loan Bank of Dallas (FHLB Dallas) recognized two member financial institutions for their commitment to community investment by naming them 2024 Community Area Revitalization Efforts (CARE) Award recipients.
  • Bank of Anguilla in Anguilla, Mississippi, and Arvest Bank, headquartered in Bentonville, Arkansas, were honored today during FHLB Dallas’ annual member conference.
  • View the full release here: https://www.businesswire.com/news/home/20240412585564/en/
    Arvest Bank received the 2024 CARE Award from the Federal Home Loan Bank of Dallas (FHLB Dallas).
  • Bank of Anguilla used $1.4 million in FHLB Dallas grants to assist 72 businesses rebuild and recover after the tornado.

Pacific Valley Bancorp Announces Its First Quarter 2024 Financial Results

Retrieved on: 
Thursday, April 25, 2024
CFO, Federal Home Loan Banks, CRE, Pressure, Bank, OTC Markets Group, Credit, Growth

SALINAS, Calif., April 25, 2024 /PRNewswire/ -- Pacific Valley Bancorp (OTC Pink: PVBK) announced its unaudited financial results for the first quarter of 2024.

Key Points: 
  • SALINAS, Calif., April 25, 2024 /PRNewswire/ -- Pacific Valley Bancorp (OTC Pink: PVBK) announced its unaudited financial results for the first quarter of 2024.
  • Net income for the quarter ended March 31, 2024, was $1.2 million representing an increase of 2.8% or $32 thousand from the quarter ended December 31, 2023.
  • Net interest margin for the first quarter March 31, 2024 was 3.57% compared with 3.67% for the same period in 2023.
  • Net Interest Income was $4.50 million for the quarter ended March 31, 2024, compared to $4.55 million for the quarter ended March 31, 2023.

BANKFIRST CAPITAL CORPORATION Reports First Quarter 2024 Earnings of $5.0 Million

Retrieved on: 
Thursday, April 25, 2024
Total, OTCQX, FHLB, Risk, Bank, Federal Home Loan Banks, Federal Reserve Bank, Environment, Bank First, Face, Credit, Growth, Video game

Net income totaled $5.0 million, or $0.93 per share, in the first quarter of 2024 compared to $7.1 million, or $1.33 per share, in the first quarter of 2023.

Key Points: 
  • Net income totaled $5.0 million, or $0.93 per share, in the first quarter of 2024 compared to $7.1 million, or $1.33 per share, in the first quarter of 2023.
  • Net interest income totaled $20.2 million in the first quarter of 2024 compared to $23.2 million in the first quarter of 2023.
  • Net interest income was $20.2 million for the first quarter of 2024, compared to $21.6 million for the fourth quarter of 2023 and $23.2 million for the first quarter of 2023.
  • Noninterest expense was $20.0 million for the first quarter of 2024, compared to $19.2 million for the fourth quarter of 2023 and $19.3 million for the first quarter of 2023, an increase of 4% and 3%, respectively.