Non-commissioned officer

Summit Financial Group Reports Earnings of $1.11 Per Share for Fourth Quarter 2023

Retrieved on: 
Thursday, January 25, 2024
NIM, Trust, Summit, Federal, Non-commissioned officer, Sale, Investment, Acquisition, NPAS, PSB, Burke, Growth, Video game

The Company’s provision for credit losses totaled $1.50 million in the fourth quarter of 2023 compared to $1.25 million in the linked quarter.

Key Points: 
  • The Company’s provision for credit losses totaled $1.50 million in the fourth quarter of 2023 compared to $1.25 million in the linked quarter.
  • Net interest income totaled $40.8 million in the fourth quarter of 2023, marking an increase of 18.7 percent from the prior-year fourth quarter and down 1.2 percent from the linked quarter.
  • Summit recorded a $1.50 million provision for credit losses in the fourth quarter of 2023 compared to $1.25 million for the linked quarter and $1.50 million in the fourth quarter of 2022.
  • The Company recognized net gains on equity investments of $365,000 in the fourth quarter 2023 compared to $180,000 in the linked quarter.

Eastern Bankshares, Inc. Reports Fourth Quarter 2023 Financial Results

Retrieved on: 
Thursday, January 25, 2024
Banking, Professional Services, Finance, FDIC, Total, Federal Deposit Insurance Corporation, Trust, Insurance, FTE, Non-commissioned officer, Sale, Investment, Federal Home Loan Banks, Webcast, Telephone, ID, EBC, Growth, Video game

Eastern Bankshares, Inc. (the “Company,” or together with its subsidiaries, “Eastern”) (NASDAQ Global Select Market: EBC), the stock holding company of Eastern Bank, today announced its 2023 fourth quarter financial results and the declaration of a quarterly cash dividend.

Key Points: 
  • Eastern Bankshares, Inc. (the “Company,” or together with its subsidiaries, “Eastern”) (NASDAQ Global Select Market: EBC), the stock holding company of Eastern Bank, today announced its 2023 fourth quarter financial results and the declaration of a quarterly cash dividend.
  • "2023 was a year of strategic repositioning for Eastern,” said Bob Rivers, Chief Executive Officer and Chair of the Board of Eastern Bankshares, Inc. and Eastern Bank.
  • Net interest income was $133.3 million for the fourth quarter of 2023, compared to $137.2 million in the prior quarter, representing a decrease of $3.9 million.
  • A conference call and webcast covering Eastern’s fourth quarter 2023 earnings will be held on Friday, January 26, 2024 at 9:00 a.m. Eastern Time.

America’s Car-Mart Reports Second Quarter 2024 Results

Retrieved on: 
Tuesday, December 5, 2023
Online, Marketing, Culture, NET, Acquisition, Ocas, SALES, YOY, Non-commissioned officer, Investment, Environment

This required an increase in the allowance for credit losses which subsequently impacted the bottom line for the quarter.

Key Points: 
  • This required an increase in the allowance for credit losses which subsequently impacted the bottom line for the quarter.
  • SALES – Sales for the quarter were 15,162 units vs. 15,885 units, down 4.6% vs. the prior year quarter.
  • GROSS PROFIT – Gross profit per unit was $6,835 compared to $6,132 for the prior year’s second quarter.
  • SG&A per average account was $429 compared to $439 during the prior year’s second quarter.

An Inside Look into an Army Startup, Coming December 12th

Retrieved on: 
Wednesday, November 15, 2023
Non-commissioned officer, Becky G discography, Organization, Amazon, Entrepreneurship, Joint Chiefs of Staff, Green Light, RET, SFAB, Barnes & Noble, Books-A-Million, IndieBound, Travel, Army, Security Force Assistance Brigade, Chief of staff, Ranger, Failure, Milley, Management, White, United States Army

National security practitioners, business executives, leadership development professionals, and contemporary historians will be fascinated by these insights into the inner workings of a nascent Army organization as unit members navigate through complex obstacles.

Key Points: 
  • National security practitioners, business executives, leadership development professionals, and contemporary historians will be fascinated by these insights into the inner workings of a nascent Army organization as unit members navigate through complex obstacles.
  • Never before has such an unlikely group been able to accomplish so much in a short time frame while capturing the essence of entrepreneurship.
  • Learn how this group of innovators launched and delivered a new, effective, and unique product in the market."
  • Coming December 12th, 2023 by Koehler Publishing, order Green Light Go!

Summit Financial Group Reports Earnings of $1.09 Per Share for Third Quarter 2023

Retrieved on: 
Thursday, October 26, 2023
Sale, Non-commissioned officer, History, PSB, CRE, NPAS, Acquisition, Trust, Mergers and acquisitions, C&I, Growth, Current Expected Credit Losses, NIM, CECL, Plan, Investment, Video game, Credit, Gasoline, Bank, Cryptocurrency, Real estate, Burke

MOOREFIELD, W.Va., Oct. 26, 2023 (GLOBE NEWSWIRE) -- Summit Financial Group, Inc. (“Company” or “Summit”) (NASDAQ: SMMF) today reported financial results for the third quarter of 2023, highlighting robust core operating performance marked by continued notable strength in its net interest margin.

Key Points: 
  • MOOREFIELD, W.Va., Oct. 26, 2023 (GLOBE NEWSWIRE) -- Summit Financial Group, Inc. (“Company” or “Summit”) (NASDAQ: SMMF) today reported financial results for the third quarter of 2023, highlighting robust core operating performance marked by continued notable strength in its net interest margin.
  • The Company’s provision for credit losses totaled $1.25 million in the third quarter of 2023 compared to $8.00 million in the linked quarter.
  • In addition, the Company recognized net gains on equity investments of $180,000 in the third quarter 2023 compared to $150,000 in the linked quarter.
  • Summit paid a quarterly common dividend of $0.22 per share in the third quarter of 2023.

Popular, Inc. Announces Third Quarter 2023 Financial Results

Retrieved on: 
Thursday, October 26, 2023
Banking, Professional Services, Finance, Insurance, FDIC, Tax, Non-commissioned officer, Popular, Inc., ACL, Note, Advertising, Environment, GDP, Growth, Risk management, ETR, Corporation, Probability, Unemployment, NPL, United States Department of the Treasury, Life insurance, Bank, Real estate, Airline, Pharmaceutical industry, Video game, PB, BPPR

Net interest income for the quarter ended September 30, 2023 was $534.0 million, an increase of $2.4 million when compared to the previous quarter.

Key Points: 
  • Net interest income for the quarter ended September 30, 2023 was $534.0 million, an increase of $2.4 million when compared to the previous quarter.
  • Net interest income for the BPPR segment amounted to $453.9 million for the third quarter of 2023, flat when compared to $453.1 million in net interest income during the second quarter of 2023.
  • Total deposit cost in the third quarter of 2023 was 1.68%, compared to 1.44% in the quarter ended June 30, 2023.
  • Operating expenses for the third quarter of 2023 totaled $466.0 million, an increase of $5.7 million when compared to the second quarter of 2023.

KBRA Assigns Ratings to Idaho Central Credit Union

Retrieved on: 
Wednesday, October 18, 2023
Professional Services, Finance, KBRA, Outlook, NPAS, BBB, Growth, Idaho Central Credit Union, RBC, ICCU, ESG, FHLB, RWA, Non-commissioned officer, Bank, Telescopic sight

KBRA assigns deposit and senior unsecured debt ratings of BBB, a subordinated debt rating of BBB-, and short-term deposit and debt ratings of K3 to Chubbuck, Idaho-based Idaho Central Credit Union (“Idaho Central” or "ICCU" or “the credit union”).

Key Points: 
  • KBRA assigns deposit and senior unsecured debt ratings of BBB, a subordinated debt rating of BBB-, and short-term deposit and debt ratings of K3 to Chubbuck, Idaho-based Idaho Central Credit Union (“Idaho Central” or "ICCU" or “the credit union”).
  • ICCU has ample access to liquidity and has not experienced material deposit outflows in recent periods, dissimilar to many regional credit union and banking counterparts.
  • The credit union has nearly $2.2 billion in available liquidity as of 2Q23, representing nearly 20% of total assets and over 200% of uninsured deposits.
  • The credit union has solid levels of noninterest income, averaging 45% of total revenue since 2018, historically bolstered by mortgage banking and deposit servicing income.

Eastern Bankshares, Inc. Reports Second Quarter 2023 Financial Results

Retrieved on: 
Thursday, July 27, 2023
Banking, Professional Services, Finance, Borrowing base, Federal Deposit Insurance Corporation, Insurance, Corus Bankshares, Share repurchase, Telephone, Trust, AFS, Non-commissioned officer, ID, Marketing, Sale, Federal Home Loan Banks, EBC, Investment, FTE, Webcast, Holding company, Video game, Security (finance), Bank, Book, Pharmaceutical industry, Payment card, Lithium, Eastern Bank

Eastern Bankshares, Inc. (the “Company,” or together with its affiliates and subsidiaries, “Eastern”) (NASDAQ Global Select Market: EBC), the stock holding company of Eastern Bank, today announced its 2023 second quarter financial results and the declaration of a quarterly cash dividend.

Key Points: 
  • Eastern Bankshares, Inc. (the “Company,” or together with its affiliates and subsidiaries, “Eastern”) (NASDAQ Global Select Market: EBC), the stock holding company of Eastern Bank, today announced its 2023 second quarter financial results and the declaration of a quarterly cash dividend.
  • “Our second quarter results show the tangible benefits of the balance sheet repositioning completed in the first quarter,” said Bob Rivers, Chief Executive Officer and Chair of the Board of Eastern Bankshares, Inc. and Eastern Bank.
  • Net interest income was $141.6 million for the second quarter of 2023, compared to $138.3 million in the prior quarter, representing an increase of $3.3 million.
  • A conference call and webcast covering Eastern’s second quarter 2023 earnings will be held on Friday, July 28, 2023 at 9:00 a.m. Eastern Time.

Summit Financial Group Reports Strong Revenue Growth, Improved Net Interest Margin, Strategic Balance Sheet Expansion, and Earnings of $0.54 Per Share for Second Quarter 2023

Retrieved on: 
Thursday, July 27, 2023
NIM, Plan, PSB, Current Expected Credit Losses, Non-commissioned officer, NPAS, PPP, Trust, Acquisition, Investment, CECL, Growth, CRE, C&I, Security (finance), Retail, Bank, Rare-earth element, Credit, Video game, Cryptocurrency, Real estate

"We are pleased to report strong core performance in second quarter of 2023, characterized by significant revenue growth, an improved net interest margin and strategic balance sheet expansion," noted H. Charles Maddy III, President, and Chief Executive Officer of Summit Financial Group.

Key Points: 
  • "We are pleased to report strong core performance in second quarter of 2023, characterized by significant revenue growth, an improved net interest margin and strategic balance sheet expansion," noted H. Charles Maddy III, President, and Chief Executive Officer of Summit Financial Group.
  • Net interest margin (“NIM”) increased 6 basis points to 3.89 percent from the linked quarter and by 23 basis points from the prior-year quarter.
  • The Company’s provision for credit losses totaled $8.00 million in the second quarter of 2023 compared to $1.5 million in the linked quarter.
  • Net interest income totaled $40.3 million in the second quarter of 2023, marking an increase of 30.2 percent from the prior-year second quarter and 17.9 percent from the linked quarter.

Popular, Inc. Announces Second Quarter 2023 Financial Results

Retrieved on: 
Wednesday, July 26, 2023
Banking, Professional Services, Finance, PB, Insurance, Fed, Advertising, Unemployment, Probability, Information technology, Financial Accounting Standards Board, FDIC, ETR, Federal, Non-commissioned officer, NPL, Popular, Inc., Corporation, GDP, Investment, Growth, ACL, Environment, Life insurance, Bank, Real estate, Pharmaceutical industry, Online shopping, Video game, BPPR

On a taxable equivalent basis, net interest margin for the second quarter of 2023 was 3.29%, compared to 3.46% for the prior quarter.

Key Points: 
  • On a taxable equivalent basis, net interest margin for the second quarter of 2023 was 3.29%, compared to 3.46% for the prior quarter.
  • Net interest income for the BPPR segment amounted to $453.1 million for the second quarter of 2023, $3.3 million higher than the first quarter of 2023.
  • Total deposit costs in the second quarter of 2023 were 1.44%, compared to 1.18% in the quarter ended March 31, 2023, an increase of 26 basis points.
  • Operating expenses for the second quarter of 2023 totaled $460.3 million, an increase of $19.6 million when compared to the first quarter of 2023.