Asset quality

Nu Holdings Ltd. Reports Fourth Quarter and Full Year 2023 Financial Results

Retrieved on: 
Thursday, February 22, 2024

Nu Holdings Ltd. (NYSE: NU), (“Nu” or the “Company”), one of the world’s largest digital financial services platforms, released today its Fourth Quarter and Full Year 2023 financial results.

Key Points: 
  • Nu Holdings Ltd. (NYSE: NU), (“Nu” or the “Company”), one of the world’s largest digital financial services platforms, released today its Fourth Quarter and Full Year 2023 financial results.
  • Financial results are expressed in U.S. dollars and are presented in accordance with International Financial Reporting Standards (IFRS).
  • In Brazil, the customer base reached 87.8 million by December 31, 2023, representing 53% of the country’s adult population.
  • Nu is the fourth-largest financial institution by number of customers in the country, according to Brazilian Central Bank data.

Hanover Bancorp, Inc. Reports Earnings for the Fourth Calendar Quarter highlighted by Increased Net Income and Net Interest Income and Strong Non-interest Income

Retrieved on: 
Wednesday, January 24, 2024

MINEOLA, N.Y., Jan. 24, 2024 (GLOBE NEWSWIRE) -- Hanover Bancorp, Inc. (“Hanover” or “the Company” – NASDAQ: HNVR), the holding company for Hanover Community Bank (“the Bank”), today reported results for the quarter ended December 31, 2023 and the declaration of a $0.10 per share cash dividend on both common and Series A preferred shares payable on February 14, 2024 to stockholders of record on February 7, 2024.

Key Points: 
  • Net Interest Margin: The Company’s net interest margin during the quarter ended December 31, 2023 increased to 2.40% from 2.29% in the quarter ended September 30, 2023.
  • Strong Non-interest Income: The Company’s non-interest income increased $0.5 million or 19.1% from the September 30, 2023 quarter (excluding litigation settlement payment) to a record high $3.3 million for the quarter ended December 31, 2023.
  • Total SBA loans sold were $29.7 million for the quarter ended December 31, 2023, representing a 270% increase over the comparable 2022 quarter.
  • The reduction in net income recorded in the fourth calendar quarter of 2023 from the comparable 2022 quarter resulted from two primary factors.

KBRA Assigns Ratings to Sagard Senior Lending Partners RN-U LP

Retrieved on: 
Wednesday, December 20, 2023

KBRA assigns a BBB rating to the Class A Notes, a BBB- rating to the Class B Notes, and a BB- rating to the Class C Notes (together, the “Notes”) issued by Sagard Senior Lending Partners RN-U LP (the “Issuer”, “Borrower”, or “Partnership”).

Key Points: 
  • KBRA assigns a BBB rating to the Class A Notes, a BBB- rating to the Class B Notes, and a BB- rating to the Class C Notes (together, the “Notes”) issued by Sagard Senior Lending Partners RN-U LP (the “Issuer”, “Borrower”, or “Partnership”).
  • Proceeds of the Notes along with the LP Interests will be used by the Partnership to invest primarily into direct lending assets to middle market companies.
  • As such, post commitment period, no proceeds will be distributed to the LP Interests until the Notes have been paid in full.
  • Manager Review: Sagard is a multi-strategy alternative asset management firm with more than US$15.7B under management, 125 portfolio companies, and 350 professionals.

Nu Holdings Ltd. Reports Third Quarter 2023 Financial Results

Retrieved on: 
Tuesday, November 14, 2023

Nu Holdings Ltd. (NYSE: NU), (“Nu” or the “Company”), one of the world’s largest digital financial services platforms, released today its Third Quarter 2023 financial results.

Key Points: 
  • Nu Holdings Ltd. (NYSE: NU), (“Nu” or the “Company”), one of the world’s largest digital financial services platforms, released today its Third Quarter 2023 financial results.
  • Financial results are expressed in U.S. dollars and are presented in accordance with International Financial Reporting Standards (IFRS).
  • Below are the Q3’23 performance highlights of Nu Holdings Ltd.:
    Customer growth: Nu added 5.4 million customers in Q3’23 and 18.7 million year-over-year (YoY), reaching a total of 89.1 million customers globally by September 30, 2023.
  • Nu is the fourth-largest financial institution by number of customers in the country, according to Brazilian Central Bank data.

Nu Holdings Ltd. Reports Second Quarter 2023 Financial Results

Retrieved on: 
Tuesday, August 15, 2023

Nu Holdings Ltd. (NYSE: NU), (“Nu” or the “Company”), one of the world’s largest digital financial services platforms, released today its Second Quarter 2023 financial results.

Key Points: 
  • Nu Holdings Ltd. (NYSE: NU), (“Nu” or the “Company”), one of the world’s largest digital financial services platforms, released today its Second Quarter 2023 financial results.
  • Financial results are expressed in U.S. dollars and are presented in accordance with International Financial Reporting Standards (IFRS).
  • Below are the Q2’23 performance highlights of Nu Holdings Ltd.:
    Customer growth: Nu added 4.6 million customers in Q2’23 and 18.4 million year-over-year (YoY), reaching a total of 83.7 million customers globally by June 30th, 2023.
  • In July 2023 , after the closing of Q2’23, Nu surpassed the mark of 85 million customers globally and 80 million in Brazil.

Merchants Bancorp Reports Second Quarter 2023 Results

Retrieved on: 
Thursday, July 27, 2023

Second quarter 2023 net income of $65.3 million increased 21% compared to second quarter of 2022 and increased 19% compared to the first quarter 2023.

Key Points: 
  • Second quarter 2023 net income of $65.3 million increased 21% compared to second quarter of 2022 and increased 19% compared to the first quarter 2023.
  • Second quarter 2023 diluted earnings per common share of $1.31 increased 18% compared to the second quarter of 2022 and increased 22% compared to the first quarter of 2023.
  • Efficiency ratio was 32.7% in the second quarter of 2023 compared to 29.6% in the second quarter of 2022 and 30.3% in the first quarter of 2023.
  • CARMEL, Ind., July 27, 2023 /PRNewswire/ -- Merchants Bancorp (the "Company" or "Merchants") (Nasdaq: MBIN), parent company of Merchants Bank of Indiana, today reported second quarter 2023 net income of $65.3 million, or diluted earnings per common share of $1.31.

Oceanfirst Financial Corp. Announces Second Quarter Financial Results

Retrieved on: 
Thursday, July 20, 2023

Book value and tangible book value per share were $27.37 and $17.723, respectively, both up $0.30 from the prior quarter.

Key Points: 
  • Book value and tangible book value per share were $27.37 and $17.723, respectively, both up $0.30 from the prior quarter.
  • 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.

Nu Holdings Ltd. Reports First Quarter 2023 Financial Results

Retrieved on: 
Monday, May 15, 2023

Nu Holdings Ltd. (NYSE: NU | B3: NUBR33), (“Nu” or the “Company”), one of the world’s largest digital financial services platforms, released today its First Quarter 2023 financial results.

Key Points: 
  • Nu Holdings Ltd. (NYSE: NU | B3: NUBR33), (“Nu” or the “Company”), one of the world’s largest digital financial services platforms, released today its First Quarter 2023 financial results.
  • Financial results are expressed in U.S. dollars and are presented in accordance with International Financial Reporting Standards (IFRS).
  • Below are the Q1’23 performance highlights of Nu Holdings Ltd.:
    Customer growth: Nu added 4.5 million customers in Q1’23 and 19.5 million year-over-year (YoY), reaching a total of 79.1 million customers globally.
  • Nu continues optimizing the use of deposits quarter after quarter, as reflected in its 33% loan-to-deposit ratio.

1st Security Bank Announces Chief Lending Officer Succession Plan

Retrieved on: 
Tuesday, April 11, 2023

MOUNTLAKE TERRACE, Wash., April 11, 2023 (GLOBE NEWSWIRE) -- 1st Security Bank of Washington has named Ben Crowl to succeed Dennis O’Leary as Chief Lending Officer (“CLO”), effective July 1, 2023.

Key Points: 
  • MOUNTLAKE TERRACE, Wash., April 11, 2023 (GLOBE NEWSWIRE) -- 1st Security Bank of Washington has named Ben Crowl to succeed Dennis O’Leary as Chief Lending Officer (“CLO”), effective July 1, 2023.
  • He previously served the Bank as Senior Vice President, Commercial Lending Team Lead.
  • I can’t imagine where we would be today without Dennis’s talent and contributions,” said 1st Security Bank CEO Joe Adams.
  • "I am thrilled that Ben has the opportunity to succeed me in the CLO role," said Dennis O'Leary, Chief Lending Officer.

Nu Holdings Ltd. Reports Fourth Quarter and Full Year 2022 Financial Results

Retrieved on: 
Wednesday, February 15, 2023

Nu Holdings Ltd. (NYSE: NU | B3: NUBR33), (“Nu” or the “Company”), one of the world’s largest digital financial services platforms, released today its Fourth Quarter & Full Year 2022 financial results.

Key Points: 
  • Nu Holdings Ltd. (NYSE: NU | B3: NUBR33), (“Nu” or the “Company”), one of the world’s largest digital financial services platforms, released today its Fourth Quarter & Full Year 2022 financial results.
  • Financial results are expressed in U.S. dollars and are presented in accordance with International Financial Reporting Standards (IFRS).
  • “Nu posted record results this quarter, with growth across all metrics and a meaningful increase in profits.
  • Nu ended 2022 as Brazil's fifth largest financial institution in numbers of active customers and Latin America's sixth largest one.