Federal Home Loan Banks

FHLBank San Francisco Launches $1 Million Tribal Nations Program to Spur Affordable Housing Development for Native American Communities

Retrieved on: 
Tuesday, January 23, 2024
Homelessness, Research, Rural housing, Life, Housing, SAN, Culture, Overcrowding, HUD, Federal Home Loan Banks, AHP, Organization, Economic development, Thrive, Renewable energy

SAN FRANCISCO, Jan. 23, 2024 (GLOBE NEWSWIRE) -- The Federal Home Loan Bank of San Francisco (FHLBank San Francisco) today announced the launch of a new $1 million Tribal Nations Program that provides critically necessary infrastructure funding grants to increase the supply of affordable housing for Native American communities.

Key Points: 
  • SAN FRANCISCO, Jan. 23, 2024 (GLOBE NEWSWIRE) -- The Federal Home Loan Bank of San Francisco (FHLBank San Francisco) today announced the launch of a new $1 million Tribal Nations Program that provides critically necessary infrastructure funding grants to increase the supply of affordable housing for Native American communities.
  • Developing an infrastructure for tribal organizations to successfully access available development resources is a critical step for increasing the supply of affordable housing for Native American communities in our district.
  • “Our Tribal people and communities experience a higher rate of homelessness and sub-standard living conditions with limited affordable housing opportunities.
  • This $1 million Tribal Nations Program builds on FHLBank San Francisco’s ongoing support for affordable housing and economic development projects benefiting Native American communities, including, to date, over $20 million in grants from AHP projects that have created more than 1,600 affordable housing units for tribal communities and more than $1.1 million in AHEAD grants awarded to 32 economic development projects.

Veritex Holdings, Inc. Reports Fourth Quarter And Full Year 2023 Results

Retrieved on: 
Tuesday, January 23, 2024
FDIC, ACL, Central Time, FHLB, NAC, Government, USDA, Sale, GAAP, Investment, Federal Home Loan Banks, PIN, Three Months, Webcast, LHI, Marketing

Net interest margin decreased 56 bps to 3.31% for the three months ended December 31, 2023 from 3.87% for the three months ended December 31, 2022.

Key Points: 
  • Net interest margin decreased 56 bps to 3.31% for the three months ended December 31, 2023 from 3.87% for the three months ended December 31, 2022.
  • The Company had net charge-offs of $9.5 million for the fourth quarter of 2023.
  • ACL as a percentage of LHI was 1.14%, 1.14%, and 0.96% at December 31, 2023, September 30, 2023, and December 31, 2022, respectively.
  • The Company recorded a benefit for unfunded commitments of $1.5 million, $909 thousand and $523 thousand during the three months ended December 31, 2023, September 30, 2023 and December 31, 2022, respectively.

Heartland BancCorp Earns $5.3 Million, or $2.61 Per Diluted Share, in the Fourth Quarter of 2023; and a Record $19.5 Million, or $9.62 Per Diluted Share, for the Year; Declares Quarterly Cash Dividend of $0.759 Per Share

Retrieved on: 
Tuesday, January 23, 2024
UCL, NIM, Compact disc, FDIC, CECL, ACL, DDA, CRE, Book, Sale, Federal Home Loan Banks, Dow Jones, NOW, NPAS, Heartland Bank, EVP, PPP, Growth, Video game

Net interest margin was 3.49%, compared to 3.52% in the preceding quarter and 4.13% in the fourth quarter a year ago.

Key Points: 
  • Net interest margin was 3.49%, compared to 3.52% in the preceding quarter and 4.13% in the fourth quarter a year ago.
  • Fourth quarter revenues (net interest income plus noninterest income) increased 1.6% to $18.6 million, compared to $18.3 million in the fourth quarter a year ago.
  • Annualized return on average tangible common equity was 15.05%, compared to 15.63% in the fourth quarter a year ago.
  • “Our net interest margin is starting to stabilize, contracting three basis points during the fourth quarter, compared to the prior quarter.

Capital City Bank Group, Inc. Reports Fourth Quarter 2023 Results

Retrieved on: 
Tuesday, January 23, 2024
FED, FDIC, CCHL, Trust, Policy, Bank, Tangibility, Insurance, HFI, Sale, Investment, Federal Home Loan Banks, NOW, Capital, Growth

For the fourth quarter of 2023, our cost of funds was 73 basis points, an increase of 7 basis points over the third quarter of 2023 and an increase of 42 basis points over the fourth quarter of 2022.

Key Points: 
  • For the fourth quarter of 2023, our cost of funds was 73 basis points, an increase of 7 basis points over the third quarter of 2023 and an increase of 42 basis points over the fourth quarter of 2022.
  • We recorded a provision for credit losses of $2.0 million for the fourth quarter of 2023 compared to $2.4 million for the third quarter of 2023 and $3.6 million for the fourth quarter of 2022.
  • Noninterest income for the fourth quarter of 2023 totaled $17.1 million compared to $16.7 million for the third quarter of 2023 and $15.3 million for the fourth quarter of 2022.
  • Noninterest expense for the fourth quarter of 2023 totaled $40.0 million compared to $39.1 million for the third quarter of 2023 and $39.3 million for the fourth quarter of 2022.

Endeavor Bancorp Reports Net Income of $852,000 for the Fourth Quarter of 2023; Results Highlighted by Strong Loan Growth and Increasing Asset Yields

Retrieved on: 
Monday, January 22, 2024
NIM, FDIC, Total, SAN, CFO, Bank, Insurance, Federal, Federal Reserve, Investment, Federal Home Loan Banks, Pressure, OTCQX, PPP, Growth

The cost of deposits increased by $8.5 million, and net interest income grew by $3.1 million year-over-year.

Key Points: 
  • The cost of deposits increased by $8.5 million, and net interest income grew by $3.1 million year-over-year.
  • The fourth quarter 2023 net income results included a $181,000 provision for credit losses, compared to a $301,000 provision for credit losses during the third quarter of 2023, and a $740,000 provision expense in the fourth quarter of 2022.
  • Excluding PPP fee income and loan loss provisions, the Company’s core pretax, pre-PPP, pre-provision earnings were $1.40 million in the fourth quarter of 2023, compared to $2.03 million in the preceding quarter and $1.80 million in the fourth quarter a year ago.
  • The Company’s annualized return on average equity for the fourth quarter of 2023 was 7.99%, compared to 11.71% in the third quarter of 2023 and 7.96% in the fourth quarter of 2022.

Private Bancorp of America, Inc. Announces Record Net Income and Earnings Per Share for Full Year 2023 with Total Assets of $2.2 Billion

Retrieved on: 
Friday, January 19, 2024
Fidelity National Financial, CECL, Credit, AFS, Bank, Unemployment, Environment, HFI, Sale, GAAP, Investment, Federal Home Loan Banks, Acquisition, Risk management, LTV, SBA, OTCQX, Government agency, CDARS, Marketing, Nature, Growth, Video game

LA JOLLA, Calif., Jan. 19, 2024 (GLOBE NEWSWIRE) -- Private Bancorp of America, Inc. (OTCQX:PBAM), (“Company”) and CalPrivate Bank (“Bank”) announced unaudited financial results for the fourth fiscal quarter ended December 31, 2023. The Company reported net income of $7.9 million, or $1.36 per diluted share, for the fourth quarter of 2023, which represents a 5.6% increase from $7.4 million, or $1.31 per diluted share, for the fourth quarter of 2022. For the fiscal year ended December 31, 2023, the Company reported record net income of $40.9 million (GAAP basis), or $33.6 million(1) (as adjusted), and record diluted earnings per share of $7.11 (GAAP basis), or $5.85(1) (as adjusted).

Key Points: 
  • The spot rate for total deposits was 2.49% as of December 31, 2023, compared to 2.18% at December 31, 2022.
  • (1) A reconciliation of net income to adjusted net income and diluted earnings per share to adjusted earnings per share is provided on page 15.
  • The Company continues to have strong credit metrics and its nonperforming assets are 0.23% of total assets as of December 31, 2023.
  • At both December 31, 2023 and September 30, 2023, there are no doubtful credits and classified assets were $11.0 million.

OceanFirst Financial Corp. Announces Quarterly and Annual Earnings and Financial Results

Retrieved on: 
Thursday, January 18, 2024
PTPP, Durbin amendment, FDIC, Credit, Trust, Federal Deposit Insurance Corporation, FHLB, Shareholder, Environment, Sale, Tax, GAAP, Investment, Federal Home Loan Banks, Annual general meeting, PCD, OceanFirst Bank, Growth, Bank

1 Core earnings and core earnings before income taxes and provision for credit losses (“PTPP or Pre-Tax-Pre-Provision”), and ratios derived therefrom, are non-GAAP financial measures.

Key Points: 
  • 1 Core earnings and core earnings before income taxes and provision for credit losses (“PTPP or Pre-Tax-Pre-Provision”), and ratios derived therefrom, are non-GAAP financial measures.
  • Refer to “Explanation of Non-GAAP Financial Measures” and the “Non-GAAP Reconciliation” tables for additional information regarding non-GAAP financial measures.
  • Refer to “Explanation of Non-GAAP Financial Measures” and the “Non-GAAP Reconciliation” tables for additional information regarding non-GAAP financial measures.
  • OceanFirst Financial Corp.’s subsidiary, OceanFirst Bank N.A., founded in 1902, is a $13.5 billion regional bank providing financial services throughout New Jersey and in the major metropolitan markets of Philadelphia, New York, Baltimore, and Boston.

Federal Home Loan Bank of Indianapolis partners with MSHDA to announce $3 million Tribal Nations Housing Development Assistance Program

Retrieved on: 
Thursday, January 18, 2024
Bank, Partnership, Housing, Federal Home Loan Banks, Renewable energy

INDIANAPOLIS, Jan. 18, 2024 (GLOBE NEWSWIRE) -- The Federal Home Loan Bank of Indianapolis (FHLBank Indianapolis or the Bank), in partnership with the Michigan State Housing Development Authority (MSHDA), today announced the launch of the Tribal Nations Housing Development Assistance Program (TNHDAP).

Key Points: 
  • INDIANAPOLIS, Jan. 18, 2024 (GLOBE NEWSWIRE) -- The Federal Home Loan Bank of Indianapolis (FHLBank Indianapolis or the Bank), in partnership with the Michigan State Housing Development Authority (MSHDA), today announced the launch of the Tribal Nations Housing Development Assistance Program (TNHDAP).
  • The program is aimed at building on tribal nations’ existing capacity and providing resources and support to develop affordable housing programs and projects that respond to their unique housing needs.
  • FHLBank Indianapolis is supporting this new program with a grant of up to $3 million, which marks the Bank’s largest grant to a single organization.
  • “For many years, we have worked alongside partners in Michigan to bring affordable housing to underserved and vulnerable communities throughout the state,” said Cindy Konich, FHLBank Indianapolis president and CEO.

Union Bankshares Announces Earnings for the three months and year ended December 31, 2023 and Declares Quarterly Dividend

Retrieved on: 
Wednesday, January 17, 2024
Environment, Sale, Federal, Federal Home Loan Banks, UNB, Cryptocurrency

MORRISVILLE, Vt., Jan. 17, 2024 (GLOBE NEWSWIRE) -- Union Bankshares, Inc. (NASDAQ - UNB) today announced results for the three months and year ended December 31, 2023 and declared a regular quarterly cash dividend.

Key Points: 
  • MORRISVILLE, Vt., Jan. 17, 2024 (GLOBE NEWSWIRE) -- Union Bankshares, Inc. (NASDAQ - UNB) today announced results for the three months and year ended December 31, 2023 and declared a regular quarterly cash dividend.
  • Asset quality remains strong as total net charge-offs for the year ended December 31, 2023 were $4 thousand compared to net recoveries of $3 thousand for the year ended December 31, 2022.
  • Investment securities were $265.9 million at December 31, 2023 compared to $251.5 million at December 31, 2022.
  • Net interest income was $9.1 million for the three months ended December 31, 2023 compared to $10.4 million for the three months ended December 31, 2022, a decrease of $1.2 million, or 12.1%.

Dr. Calvin King Reappointed to Federal Home Loan Bank of Dallas Affordable Housing Advisory Council

Retrieved on: 
Thursday, January 25, 2024
Residential Building & Real Estate, Banking, Socially Responsible Investing, Social Services, Construction & Property, Professional Services, Agriculture, DEI (Diversity, Equity and Inclusion), Natural Resources, Other Construction & Property, Finance, Farmer, Housing, FHLB, MacArthur Fellows Program, Federal Home Loan Banks, Advisory Council, Management

The Federal Home Loan Bank of Dallas (FHLB Dallas) is pleased to announce the reappointment of Dr. Calvin King to the FHLB Dallas Affordable Housing Advisory Council (Advisory Council).

Key Points: 
  • The Federal Home Loan Bank of Dallas (FHLB Dallas) is pleased to announce the reappointment of Dr. Calvin King to the FHLB Dallas Affordable Housing Advisory Council (Advisory Council).
  • View the full release here: https://www.businesswire.com/news/home/20240125875877/en/
    Dr. King brings decades of community development experience to the Advisory Council.
  • The Advisory Council is comprised of 13 representatives from state, community and nonprofit organizations in FHLB Dallas’ five-state District.
  • They are appointed by the FHLB Dallas Board of Directors (Board) and advise the Board on affordable housing and economic development issues.