W Holding Company

PREIT Reports Third Quarter 2023 Results

Retrieved on: 
Tuesday, November 14, 2023
Sale, Dartmouth Mall, Plymouth Meeting, Pennsylvania, Foot, Prince George's County, Maryland, Three Months, W Holding Company, Financial result, Springfield Town Center, OP, Whole Foods Market, McAuliffe-Shepard Discovery Center, Mall, ULTA, Mall kiosk, FFO, Operation, Primary Dealer Credit Facility, Line of credit, PREIT, Video game, Commercial property, Cryptocurrency

PHILADELPHIA, Nov. 14, 2023 /PRNewswire/ -- PREIT (OTCQB:PRET) today reported results for the three and nine months ended September 30, 2023. A description of each non-GAAP financial measure and the related reconciliation to the comparable GAAP financial measure is provided in the tables accompanying this release.

Key Points: 
  • Core Mall Total Occupancy decreased by 70 basis points to 93.6% compared to the third quarter 2022.
  • Average renewal spreads for the three and nine months ended September 30, 2023 were 8.5% and 5.5%, respectively.
  • Additional information regarding changes in operating results for the three and nine months ended September 30, 2023 and 2022 is included on page 14.
  • The Company's Credit Facilities, with a balance of $1,118.8 million as of September 30, 2023, mature on December 10, 2023.

Eastern Bankshares, Inc. Reports Third Quarter 2023 Financial Results

Retrieved on: 
Thursday, October 26, 2023
Banking, Asset Management, Professional Services, Finance, Capital gain, Insurance, Sale, Federal Deposit Insurance Corporation, Federal Home Loan Banks, Telephone, EBC, Share repurchase, W Holding Company, Acquisition, Shared National Credit Program, Growth, Trust, Corus Bankshares, ID, SNC, Webcast, Compact disc, Lender option borrower option, Statement, Capital loss, Total, Investment, Holding company, Security (finance), Life insurance, Pharmaceutical industry, Bank, Video game, Iron ore, Payment card, Drug, Real estate, Eastern Bank

The release of the Company’s quarterly financial results follows its September 19, 2023 announcement of the sale of the insurance operations of Eastern Insurance Group, LLC (“Eastern Insurance”) (“the insurance transaction”) and the pending merger with Cambridge Bancorp (“Cambridge”) (“the merger”).

Key Points: 
  • The release of the Company’s quarterly financial results follows its September 19, 2023 announcement of the sale of the insurance operations of Eastern Insurance Group, LLC (“Eastern Insurance”) (“the insurance transaction”) and the pending merger with Cambridge Bancorp (“Cambridge”) (“the merger”).
  • Regarding the Company’s third quarter financial results, Mr. Rivers commented, “Our results continue to demonstrate our robust capital position and the strength of our franchise.
  • Net interest income was $137.2 million for the third quarter of 2023, compared to $141.6 million in the prior quarter, representing a decrease of $4.4 million.
  • A conference call and webcast covering Eastern’s third quarter 2023 earnings will be held on Friday, October 27, 2023 at 9:00 a.m. Eastern Time.

Hawthorn Bancshares Reports Third Quarter 2023 Results

Retrieved on: 
Wednesday, October 25, 2023
W Holding Company, Quarter, ASU, FTE, Growth, EPS, Current Expected Credit Losses, Borrowing base, Financial instrument, Video game, Bank, Credit, Insurance, Rare-earth element

Financial Results for the Quarter and Nine Months Ended September 30, 2023

Key Points: 
  • Financial Results for the Quarter and Nine Months Ended September 30, 2023
    Net income for the third quarter 2023 was of $2.6 million, an increase of $0.03 million, or 1.2%, from the linked quarter, and a decrease of $2.3 million, or 47.7%, from the third quarter 2022 (the "prior year quarter").
  • EPS was consistent at $0.36 for both the third quarter 2023 and linked quarter compared to $0.70 for the prior year quarter.
  • Net interest income for the third quarter 2023 was $15.1 million , an increase of $0.9 million from the linked quarter, and an increase of $0.1 million from the prior year quarter.
  • Total non-interest income for the third quarter 2023 was $0.6 million, a decrease of $1.0 million, or 62.0%, from the linked quarter, and a decrease of $2.9 million, or 82.6%, from the prior year quarter.

Enterprise Bancorp, Inc. Announces Third Quarter Financial Results

Retrieved on: 
Tuesday, October 24, 2023
Boston Business Journal, Insurance, Sale, FDIC, Federal Deposit Insurance Corporation, Bank, Enterprise Bank, ACL, W Holding Company, Federal Reserve Bank, Growth, FHLB, Federal Reserve Bank of Boston, Total, Investment, Management, Clothing, Cryptocurrency, Rare-earth element, Security (finance), Life insurance, Pharmaceutical industry

LOWELL, Mass., Oct. 24, 2023 (GLOBE NEWSWIRE) -- Enterprise Bancorp, Inc. (NASDAQ: EBTC), parent of Enterprise Bank, announced its financial results for the three months ended September 30, 2023.

Key Points: 
  • LOWELL, Mass., Oct. 24, 2023 (GLOBE NEWSWIRE) -- Enterprise Bancorp, Inc. (NASDAQ: EBTC), parent of Enterprise Bank, announced its financial results for the three months ended September 30, 2023.
  • Selected financial results at or for the three months ended September 30, 2023, were as follows:
    The return on average assets and average equity were 0.85% and 12.53%, respectively.
  • Chief Executive Officer Jack Clancy commented, "We are pleased with our third quarter results.
  • In particular, I am very proud that we ranked 2nd in the state of Massachusetts for the highest average volunteer hours per employee."

Alpine Income Property Trust Reports Third Quarter 2023 Operating Results

Retrieved on: 
Thursday, October 19, 2023
Alice P. Albright, PARK, Acquisition, Wawa, W Holding Company, NYSE, FFO, PINE, Rare-earth element, Real estate

WINTER PARK, Fla., Oct. 19, 2023 (GLOBE NEWSWIRE) -- Alpine Income Property Trust, Inc. (NYSE: PINE) (the “Company” or “PINE”) today announced its operating results and earnings for the quarter ended September 30, 2023.

Key Points: 
  • WINTER PARK, Fla., Oct. 19, 2023 (GLOBE NEWSWIRE) -- Alpine Income Property Trust, Inc. (NYSE: PINE) (the “Company” or “PINE”) today announced its operating results and earnings for the quarter ended September 30, 2023.
  • Reported Net Loss per diluted share attributable to the Company of ($0.05) for the quarter ended September 30, 2023.
  • Reported FFO per diluted share of $0.37 for the quarter ended September 30, 2023, a decrease of 7.5% from the comparable prior year period.
  • Reported AFFO per diluted share of $0.38 for the quarter ended September 30, 2023, a decrease of 9.5% from the comparable prior year period.

Bankwell Financial Group Reports Operating Results for the Third Quarter and Declares Fourth Quarter Dividend

Retrieved on: 
Wednesday, October 25, 2023
Banking, Professional Services, Finance, Bankwell, Sale, Futures contract, FDIC, Bank, ACL, HTM, GAAP, Environment, W Holding Company, CECL, Total, Tetragon Financial Group, Cryptocurrency, Rare-earth element, Airline

Non-Interest Expense as a percentage Average Assets stands at 1.54% year-to date, putting Bankwell well ahead of industry peers on this key metric.

Key Points: 
  • Non-Interest Expense as a percentage Average Assets stands at 1.54% year-to date, putting Bankwell well ahead of industry peers on this key metric.
  • Return on average assets was 1.19% for the quarter ended September 30, 2023.
  • Revenues (net interest income plus noninterest income) for the quarter ended September 30, 2023 were $23.5 million, versus $25.0 million for the quarter ended September 30, 2022.
  • Net income for the quarter ended September 30, 2023 was $9.8 million, versus $9.2 million for the quarter ended September 30, 2022.

Central Pacific Financial Reports Third Quarter Earnings of $13.1 Million

Retrieved on: 
Wednesday, October 25, 2023
Banking, Professional Services, Finance, Sale, FDIC, CPF, Bank, NYSE, Central Pacific Bank, Share repurchase, W Holding Company, EPS, NIM, Total, Hawaii–Aleutian Time Zone, Tutoring, Video game, Cryptocurrency, Rare-earth element, Central Pacific

Net interest income was $51.9 million for the third quarter of 2023, which decreased by $0.8 million, or 1.5% from the previous quarter, and decreased by $3.4 million, or 6.2% from the year-ago quarter.

Key Points: 
  • Net interest income was $51.9 million for the third quarter of 2023, which decreased by $0.8 million, or 1.5% from the previous quarter, and decreased by $3.4 million, or 6.2% from the year-ago quarter.
  • Other operating income totaled $10.0 million for the third quarter of 2023, compared to $10.4 million in the previous quarter and $9.6 million in the year-ago quarter.
  • Other operating expense totaled $39.6 million for the third quarter of 2023, compared to $39.9 million in the previous quarter and $42.0 million in the year-ago quarter.
  • Net charge-offs totaled $3.9 million in the third quarter of 2023, compared to net charge-offs of $3.4 million in the previous quarter, and net charge-offs of $1.6 million in the year-ago quarter.

The First Bancorp Announces Third Quarter Earnings

Retrieved on: 
Wednesday, October 18, 2023
Banking, Asset Management, Professional Services, Finance, Asset, World Bank Director-General Evaluation, Sale, Bank, ACL, CRE, W Holding Company, Efficiency ratio, PTPP, RESULTS, Growth, First National Bank, Common equity, CECL, First BanCorp, First Bancorp, Investment, Tangible common equity, FNLC, Cryptocurrency, Holding company, Rare-earth element, Beauty salon

Unaudited net income for the period was $7.5 million representing an increase of 1.1% from the second quarter of 2023.

Key Points: 
  • Unaudited net income for the period was $7.5 million representing an increase of 1.1% from the second quarter of 2023.
  • Diluted earnings per share were $0.67, level with the prior quarter.
  • Our net interest margin declined slightly to begin the third quarter, however, we are encouraged by an uptick in the margin towards the latter part of the quarter.
  • The Company's Efficiency Ratio (non-GAAP) was 53.49% in the third quarter of 2023, up from 52.27% in the second quarter of 2023.

Independent Bank Corp. Reports Third Quarter Net Income of $60.8 Million

Retrieved on: 
Thursday, October 19, 2023
Banking, Professional Services, Finance, Insurance, Sale, ATM, Lethenteron appendix, W Holding Company, Shotter v Westpac Banking Corp, Federal Home Loan Banks, Treasury, Conference, Credit, Internet, Rockland Trust, Total, Security (finance), Financial services, Cryptocurrency, Real estate, Rare-earth element, Bank, Video game

Independent Bank Corp. (Nasdaq Global Select Market: INDB), parent of Rockland Trust Company, today announced 2023 third quarter net income of $60.8 million, or $1.38 per diluted share, compared to 2023 second quarter net income of $62.6 million, or $1.42 per diluted share.

Key Points: 
  • Independent Bank Corp. (Nasdaq Global Select Market: INDB), parent of Rockland Trust Company, today announced 2023 third quarter net income of $60.8 million, or $1.38 per diluted share, compared to 2023 second quarter net income of $62.6 million, or $1.42 per diluted share.
  • Net interest income for the third quarter of 2023 decreased 1.7% to $149.9 million compared to $152.5 million for the prior quarter, as rising deposit costs slightly outpaced the benefit of repriced assets.
  • Noninterest income of $33.5 million for the third quarter of 2023 represented an increase of $2.8 million, or 9.1%, as compared to the prior quarter.
  • The third quarter provision for credit losses was $5.5 million, as compared to $5.0 million in the prior quarter.

Dime Community Bancshares, Inc. Reports Second Quarter 2023 Results

Retrieved on: 
Friday, July 28, 2023
PCD, Culture, Sale, Mergers and acquisitions, Growth, Mortality, Bank, News, W Holding Company, Video game, Management, Bridge, Dime

HAUPPAUGE, N.Y., July 28, 2023 (GLOBE NEWSWIRE) -- Dime Community Bancshares, Inc. (NASDAQ: DCOM) (the “Company” or “Dime”), the parent company of Dime Community Bank (the “Bank”), today reported net income available to common stockholders of $25.7 million for the quarter ended June 30, 2023, or $0.66 per diluted common share, compared to net income available to common stockholders of $35.5 million for the quarter ended March 31, 2023 or $0.92 per diluted common share, and net income available to common stockholders of $36.7 million for the quarter ended June 30, 2022, or $0.94 per diluted common share.

Key Points: 
  • Non-interest income was $10.4 million during the second quarter of 2023, $9.0 million during the first quarter of 2023, and $12.1 million during the second quarter of 2022.
  • Total non-interest expense was $52.2 million during the second quarter of 2023, $47.5 million during the first quarter of 2023, and $51.8 million during the second quarter of 2022.
  • The ratio of non-interest expense to average assets was 1.53% during the second quarter of 2023, compared to 1.41% during the linked quarter and 1.71% for the second quarter of 2022.
  • The efficiency ratio was 57.6% during the second quarter of 2023, compared to 50.1% during the linked quarter and 49.1% during the second quarter of 2022.