Federal Home Loan Banks

FHLB Cincinnati's Welcome Home Program to Offer $20,000 grants beginning March 1

Retrieved on: 
Wednesday, January 31, 2024
MRB, History, WHP, Federal Home Loan Banks, FHLB, Real estate

CINCINNATI, Jan. 31, 2024 /PRNewswire/ -- The Federal Home Loan Bank of Cincinnati's Welcome Home Program (WHP) will open at 8:00 a.m. ET on March 1, 2024. The WHP offers grants of up to $20,000 to fund down payment and closing costs for low- and moderate-income homebuyers. Active-duty military, honorably discharged veterans, reservists and surviving spouses of service personnel are eligible for up to $25,000 in grant funds. Grant amounts in 2024 are the highest in WHP history.

Key Points: 
  • CINCINNATI, Jan. 31, 2024 /PRNewswire/ -- The Federal Home Loan Bank of Cincinnati's Welcome Home Program (WHP) will open at 8:00 a.m.
  • The WHP offers grants of up to $20,000 to fund down payment and closing costs for low- and moderate-income homebuyers.
  • Active-duty military, honorably discharged veterans, reservists and surviving spouses of service personnel are eligible for up to $25,000 in grant funds.
  • At FHLB Cincinnati, we understood this barrier and increased our Welcome Home Program grant amount to $20,000 to help these buyers enter the market," said Andy Howell, President and CEO, FHLB Cincinnati.

BANKFIRST CAPITAL CORPORATION Reports Fourth Quarter and Year-End 2023 Earnings of $6.5 Million and $28.2 Million, respectively

Retrieved on: 
Tuesday, January 30, 2024
OTCQX, CDFI, Bank First, Environment, Community development, FRB, Federal Reserve Bank, Mechanics Bank, Total, Risk, Acquisition, Bank, Federal Home Loan Banks, Video game

Net income totaled $6.5 million, or $1.20 per share, in the fourth quarter of 2023 compared to $7.0 million, or $1.31 per share, in the fourth quarter of 2022.

Key Points: 
  • Net income totaled $6.5 million, or $1.20 per share, in the fourth quarter of 2023 compared to $7.0 million, or $1.31 per share, in the fourth quarter of 2022.
  • Net interest income totaled $21.6 million in the fourth quarter of 2023 compared to $21.4 million in the fourth quarter of 2022.
  • Net interest income was $21.6 million for the fourth quarter of 2023, compared to $21.6 million for the third quarter of 2023 and $21.4 million for the fourth quarter of 2022, an increase of 1% from the prior year period.
  • Noninterest expense was $19.2 million for the fourth quarter of 2023, compared to $20.0 million for the third quarter of 2023 and $17.3 million for the fourth quarter of 2022, a decrease of 4% and an increase of 11%, respectively.

Touchstone Bankshares Reports Financial Results for the Fourth Quarter and Full Year 2023

Retrieved on: 
Tuesday, January 30, 2024
Growth, Signature Bank, FDIC, Environment, Marketing, Telecommunications, Total, Sale, Bank, Advertising, Insurance, Federal Home Loan Banks, Cryptocurrency

Upon completion of the core conversion during the first quarter of 2023, management focused its efforts to streamline operations and improve efficiencies.

Key Points: 
  • Upon completion of the core conversion during the first quarter of 2023, management focused its efforts to streamline operations and improve efficiencies.
  • These efforts lead to a reduction in the work force that was implemented during the third quarter of 2023.
  • The Company incurred approximately $200 thousand in one-time expenses related to this initiative, with the full cost savings becoming accretive in the fourth quarter of 2023.
  • At December 31, 2023, total assets were $658.7 million, compared to $622.6 million at December 31, 2022, an  increase of $36.1 million, or 5.8%.

GBank Financial Holdings Inc. Announces Fourth Quarter 2023 Financial Results

Retrieved on: 
Tuesday, January 30, 2024
PCA, Growth, BankCard Services, SBA, FDIC, Telephone, Fintech, Zoom, Internet, Federal funds, BCS, CIMS, PST, PPA, Accounting, Tier 1, Commercial, PIMS, Federal Reserve Bank, Smartphone, ZOOM, Patent, Sale, Bank, Interest, Investment, Federal Home Loan Banks

Average pretax gain on sale of loans margin decreased to 3.18% during the fourth quarter, compared to 3.36% for the prior quarter and 3.51% for the same period of 2022.

Key Points: 
  • Average pretax gain on sale of loans margin decreased to 3.18% during the fourth quarter, compared to 3.36% for the prior quarter and 3.51% for the same period of 2022.
  • For the quarter ended December 31, 2023, the Bank's Tier 1 leverage ratio was 14.06%, compared to 15.08% for the quarter ended December 31, 2022.
  • For the quarter ended December 31, 2023, net interest income increased 8% to $10.4 million, compared to $9.6 million for the prior quarter.
  • Net charge-offs during the third quarter of 2023 related to the other real estate owned properties held at September 30, 2023.

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.

RBAZ Bancorp, Inc. Announces Unaudited Financial Results for the Quarter and Year Ending December 31, 2023

Retrieved on: 
Monday, January 29, 2024
Total, Bank, Paycheck Protection Program, Federal, Federal Reserve, Republic Bank, Investment, Federal Home Loan Banks, Marketing, Growth

Prior year earnings of $1.06 per share were comprised of $0.96 per share attributable to core operations and $0.10 per share due to impacts from the Paycheck Protection Program.

Key Points: 
  • Prior year earnings of $1.06 per share were comprised of $0.96 per share attributable to core operations and $0.10 per share due to impacts from the Paycheck Protection Program.
  • Ending 2023 with a strong earnings performance, 14% asset growth and excellent credit quality amid all the headwinds coming at us is a tremendous source of pride.
  • Total borrowings of $20,929,000 at December 31, 2023 included $15,000,000 in advances from the Federal Home Loan Bank to support significant loan growth that occurred late in the fourth quarter.
  • The Bank remains “Well Capitalized” under the Community Bank Leverage Ratio (CBLR) framework as follows:

CIB Marine Bancshares, Inc. Announces 2023 Results

Retrieved on: 
Friday, January 26, 2024
FDIC, Bank statement, Insurance, Federal, Housing, FHLB, Federal Reserve, Commercial, Risk, Sale, CIB, Federal Home Loan Banks, Fed, Gross domestic product, GDP, Unemployment, Bank

BROOKFIELD, Wis., Jan. 26, 2024 (GLOBE NEWSWIRE) -- CIB Marine Bancshares, Inc. (the “Company” or “CIB Marine”) (OTCQX: CIBH), the holding company of CIBM Bank (the “Bank”), announced its unaudited results of operations and financial condition for the quarter and year ended December 31, 2023.

Key Points: 
  • BROOKFIELD, Wis., Jan. 26, 2024 (GLOBE NEWSWIRE) -- CIB Marine Bancshares, Inc. (the “Company” or “CIB Marine”) (OTCQX: CIBH), the holding company of CIBM Bank (the “Bank”), announced its unaudited results of operations and financial condition for the quarter and year ended December 31, 2023.
  • Income before tax was $0.2 million for the fourth quarter of 2023 compared to $1.3 million for the same period of 2022.
  • By growing deposits during the fourth quarter of 2023, CIB Marine was able to bring its loan to deposit ratio back below 100% to 99%.
  • During the second quarter of 2023, CIB Marine sold $23 million in retail deposits from the Bank’s Danville, Illinois, branch for a gain of $1.5 million, net of conversion related data processing costs.

Territorial Bancorp Inc. Announces Fourth Quarter 2023 Results

Retrieved on: 
Friday, January 26, 2024
Compact disc, Wildfire, FDIC, ESOP, CECL, Bank, Insurance, FHLB, Environment, Sale, Tax, Investment, Federal Home Loan Banks, Federal Deposit Insurance Corporation, Federal Reserve Bank, FRB, Cryptocurrency

The Board of Directors approved a quarterly cash dividend of $0.05 per share, representing Territorial Bancorp Inc.’s 57th consecutive quarterly dividend.

Key Points: 
  • The Board of Directors approved a quarterly cash dividend of $0.05 per share, representing Territorial Bancorp Inc.’s 57th consecutive quarterly dividend.
  • HONOLULU, Hawaii, Jan. 26, 2024 (GLOBE NEWSWIRE) -- Territorial Bancorp Inc. (NASDAQ: TBNK) (the “Company”), headquartered in Honolulu, Hawaii, the holding company parent of Territorial Savings Bank, announced net income of $334,000, or $0.04 per diluted share, for the three months ended December 31, 2023.
  • Total interest income was $17.69 million for the three months ended December 31, 2023, compared to $16.22 million for the three months ended December 31, 2022.
  • The ratio of non-performing assets to total assets was 0.10% at December 31, 2023 and 0.11% at December 31, 2022.

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.