Commercial bank

Commercial National Financial Corporation Reports 4th Quarter 2023 Earnings

Retrieved on:

Friday, January 26, 2024

ITHACA, Mich., Jan. 26, 2024 (GLOBE NEWSWIRE) -- Commercial National Financial Corporation (Pink Sheets: CEFC) today announced that net income for the fourth quarter of 2023 was $1,458,000 or $0.37 per share compared to fourth quarter 2022 net income of $1,912,000 or $0.48 per share.

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ITHACA, Mich., Jan. 26, 2024 (GLOBE NEWSWIRE) -- Commercial National Financial Corporation (Pink Sheets: CEFC) today announced that net income for the fourth quarter of 2023 was $1,458,000 or $0.37 per share compared to fourth quarter 2022 net income of $1,912,000 or $0.48 per share.
Return on Equity (ROE) was 13.34% for the fourth quarter of 2023 compared to 19.86% for the fourth quarter of 2022.
Net interest income for the fourth quarter of 2023 decreased by $523,000 or 10.3% compared to the fourth quarter of 2022.
While interest income increased due to higher market interest rates, interest expense on deposits increased at a higher pace during 2023, which resulted in lower net interest margins and reduced income.

Chino Commercial Bancorp Reports Record Earnings

Retrieved on:

Friday, January 19, 2024

Growth, Bank, Inland Empire, OTC, CCBC, Commercial bank, Video game

CHINO, Calif., Jan. 19, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of Chino Commercial Bancorp (OTC: CCBC), the parent company of Chino Commercial Bank, N.A., announced the results of operations for the Bank and the consolidated holding company for the fourth quarter ended December 31, 2023.

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CHINO, Calif., Jan. 19, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of Chino Commercial Bancorp (OTC: CCBC), the parent company of Chino Commercial Bank, N.A., announced the results of operations for the Bank and the consolidated holding company for the fourth quarter ended December 31, 2023.
Net earnings per basic and diluted share was $1.54 for the period ending December 31, 2023 and $1.47 for the same period last year.
Net earnings per basic and diluted share were $0.38 for the fourth quarter of 2023 and $0.41 for the same quarter in 2022, respectively.
Total net interest income reached an all-time high at $13 million, and net earnings also reached an all-time high at $4.9 million.

Greene County Bancorp, Inc. Announces Cash Dividend

Retrieved on:

Wednesday, January 17, 2024

Commercial bank, Bank, Bank of Greene County, MHC, Federal Reserve Bank, Holding company

CATSKILL, N.Y., Jan. 17, 2024 (GLOBE NEWSWIRE) -- Greene County Bancorp, Inc. (NASDAQ-GCBC) today announced that its Board of Directors has approved a quarterly cash dividend of $0.08 per share on the Company’s common stock.

Key Points:

CATSKILL, N.Y., Jan. 17, 2024 (GLOBE NEWSWIRE) -- Greene County Bancorp, Inc. (NASDAQ-GCBC) today announced that its Board of Directors has approved a quarterly cash dividend of $0.08 per share on the Company’s common stock.
The dividend reflects an annual cash dividend rate of $0.32 per share which is the same rate as the dividend declared during the previous quarter.
The Company is the majority-owned subsidiary of Greene County Bancorp, MHC (the “MHC”), a federal mutual holding company which owns 54.1% of the Company’s outstanding common shares.
Greene County Bancorp, Inc. is the direct and indirect holding company, respectively, for The Bank of Greene County, a federally chartered savings bank, and Greene County Commercial Bank, a New York-chartered commercial bank, both headquartered in Catskill, New York.

Q2 Announces 2024 State of Commercial Banking Report

Retrieved on:

Monday, January 29, 2024

Q2 Holdings, Inc. (NYSE:QTWO), a leading provider of digital transformation solutions for banking and lending, will release its State of Commercial Banking January 2024 Market Analysis report following the State of Commercial Banking webinar, which will take place on Thursday, February 8, at 12:30 p.m. CST.

Key Points:

Q2 Holdings, Inc. (NYSE:QTWO), a leading provider of digital transformation solutions for banking and lending, will release its State of Commercial Banking January 2024 Market Analysis report following the State of Commercial Banking webinar, which will take place on Thursday, February 8, at 12:30 p.m. CST.
“The commercial banking market is at a pivotal point in its evolution,” said Gita Thollesson, manager, Strategic Advisory Services, Q2.
Click here to learn more and register for the 2024 State of Commercial Banking webinar on Thursday, February 8, at 12:30 p.m. CST.
To learn more about how Q2 delivers simple, smart, end-to-end banking and lending solutions for commercial financial institutions, visit https://www.q2.com/commercial.

JPMorgan Chase Announces Expanded Roles for Top Executives

Retrieved on:

Thursday, January 25, 2024

JPMorgan Chase (NYSE: JPM) today announced new and increased responsibilities for a number of key executives that will build upon the company’s successes and continue to position the firm for the future.

Key Points:

JPMorgan Chase (NYSE: JPM) today announced new and increased responsibilities for a number of key executives that will build upon the company’s successes and continue to position the firm for the future.
Doug Petno, CEO of the Commercial Bank, will lead an expanded Commercial Banking business, which will also encompass the Global Corporate Banking group.
JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America (“U.S.”), with operations worldwide.
JPMorgan Chase had $3.9 trillion in assets and $328 billion in stockholders’ equity as of December 31, 2023.

Marc A. Tohir Joins Freedom Bank as EVP & Head of Commercial Banking

Retrieved on:

Monday, January 29, 2024

Bank, Johns Hopkins University, Economics, PNC Financial Services, Commercial bank, Senior, SunTrust Banks, Head, Risk management, Behavioural sciences, Truist, Management

FAIRFAX, Va., Jan. 29, 2024 /PRNewswire/ -- The Freedom Bank of Virginia ("Freedom Bank") announced today that it has hired Marc A. Tohir as Executive Vice President and Head of Commercial Banking. In his role as Head of Commercial Banking, Marc will organize and execute growth strategies for the Bank's commercial banking segment across the greater DC Region and dedicated industry groups.

Key Points:

FAIRFAX, Va., Jan. 29, 2024 /PRNewswire/ -- The Freedom Bank of Virginia ("Freedom Bank") announced today that it has hired Marc A. Tohir as Executive Vice President and Head of Commercial Banking.
In his role as Head of Commercial Banking, Marc will organize and execute growth strategies for the Bank's commercial banking segment across the greater DC Region and dedicated industry groups.
"I am thrilled to lead the talented commercial banking team at Freedom Bank," said Marc Tohir.
Marc has extensive banking experience and was most recently Senior Vice President and Group Manager at PNC Bank managing the Northern Virginia area.

Wells Fargo & Company Announces Common Stock Dividend

Retrieved on:

Tuesday, January 23, 2024

Banking, Professional Services, Finance, Wells Fargo Center, Corporation, Investment banking, Multimedia, Housing, Wells Fargo, WFC, News, Investment management, Wealth, Commercial bank

Wells Fargo & Company (NYSE: WFC) today announced its board of directors approved a quarterly common stock dividend of $0.35 per share, payable March 1, 2024, to stockholders of record on Feb. 2, 2024.

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Wells Fargo & Company (NYSE: WFC) today announced its board of directors approved a quarterly common stock dividend of $0.35 per share, payable March 1, 2024, to stockholders of record on Feb. 2, 2024.
View the full release here: https://www.businesswire.com/news/home/20240123114927/en/
Wells Fargo Bank branch located in the Wells Fargo Center (Photo: Wells Fargo)
Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets.
Wells Fargo ranked No.
News, insights, and perspectives from Wells Fargo are also available at Wells Fargo Stories .

Webster Reports Fourth Quarter 2023 EPS of $1.05; Adjusted EPS of $1.46

Retrieved on:

Tuesday, January 23, 2024

Banking, Other Professional Services, Professional Services, Finance, Webster Bank, FDIC, Total, WBS, Sale, Tax, GAAP, HSA Bank, Retail banking, Webcast, Commercial bank, Annual report, Airline

Quarterly net interest income compared to the fourth quarter of 2022:

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Quarterly net interest income compared to the fourth quarter of 2022:
Net interest income was $571.0 million compared to $602.4 million.
Quarterly non-interest income compared to the fourth quarter of 2022:
Total non-interest income was $63.8 million compared to $102.2 million, a decrease of $38.4 million.
Total non-interest income includes a $16.8 million and $4.5 million loss on the sale of investment securities for the fourth quarter of 2023 and 2022, respectively.
A conference call covering Webster’s fourth quarter 2023 earnings announcement will be held today, Tuesday, January 23, 2024 at 9:00 a.m. Eastern Time.

Annual Research Reveals 38 Vulnerabilities Became Newly Associated with Ransomware in 2023

Retrieved on:

Tuesday, January 23, 2024

Transfer, Spider, MITRE, APT, Attack, NVD, Movva, Commercial bank, Environment, INC, Transpiration, Industrial, Organization, Progress, Education, MGM Resorts International, Cryptocurrency

ALBUQUERQUE, N.M., Jan. 23, 2024 /PRNewswire-PRWeb/ -- Today Securin, Inc. released its latest ransomware report, examining the prominent cybersecurity threat and documenting how its usage and manipulation by threat groups have evolved in 2023. Hopes that the ransomware threat environment would ease in 2023 proved misguided, with attacks increasing across the board, affecting businesses, governments, critical infrastructure, and more.

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The 2023 Year in Review: Ransomware report drives this reality home, identifying 38 new vulnerabilities associated with ransomware in 2023.
The report provides a deep dive into the state of ransomware as we head into 2024, with crucial information on newly identified vulnerabilities, insight into significant ransomware attacks, and new ransomware families and APT groups.
The top three takeaways from this report include:
The number of ransomware-associated vulnerabilities climbed significantly, from 344 in 2022 to 382 in 2023.
Ten new ransomware families emerged in 2023 including Akira, Bloody and INC, leading to a total of 188 active ransomware families.

Comerica Bank's California Index's Growth Stalled in the Fall

Retrieved on:

Monday, January 22, 2024

Comerica, House, Wealth management, Multimedia, Housing, Commercial bank, Retail, CMA, Pressure, Archive, Golden State, GDP, Publication, Unemployment, Atmosphere

Employment rose by 34,500, but the pace of job growth year-to-date has been roughly half of 2022's.

Key Points:

Employment rose by 34,500, but the pace of job growth year-to-date has been roughly half of 2022's.
California's real GDP grew robustly in the first three quarters of 2023 following modest 0.7% annual growth in 2022.
But Comerica's California Index suggests the Golden State's economy likely lost momentum in the fall amid headwinds to housing, high interest rates, persistent inflation, and slowing consumer spending.
The Comerica California Economic Activity Index is a monthly composite indicator of state economic activity.