Paycheck Protection Program

Enterprise Bancorp, Inc. Announces First Quarter Financial Results

Retrieved on: 
Tuesday, April 25, 2023
Borrowing base, Federal Deposit Insurance Corporation, Insurance, Federal Reserve Bank, Total, Probability, FHLB, Paycheck Protection Program, AOCL, FDIC, Sale, Compact disc, Federal Home Loan Banks, PPP, Investment, Risk, Comment, Growth, Forgiveness, Enterprise Bank, ACL, Environment, Federal Reserve Bank of Boston, Cryptocurrency, Bank, Holding company, Bookkeeping, Pharmaceutical industry, Real estate, Security (finance)

Chief Executive Officer Jack Clancy commented, "We are pleased with our first quarter results.

Key Points: 
  • Chief Executive Officer Jack Clancy commented, "We are pleased with our first quarter results.
  • Our regulatory capital ratios as of quarter end all exceeded the regulatory levels necessary to be deemed "well-capitalized," which is the highest designation.
  • As of March 31, 2023, non-performing loans and the allowance for credit losses to total loans amounted to 0.23% and 1.70%, respectively.
  • The increases were driven primarily by an increase in retained earnings, partially offset by commercial loan growth during the period.

CSB Bancorp, Inc. Reports First Quarter Earnings

Retrieved on: 
Tuesday, April 25, 2023
Banking, Professional Services, Finance, OTC Markets Group, Federal Reserve Bank, Federal Reserve Bank of St. Louis, Employment, Housing, Federal, HTM, Paycheck Protection Program, AFS, Marketing, Sale, PPP, Federal Reserve, FTE, CECL, ASU, Environment, CSB, Software, Video game, Bank, Airline

Loan interest income including fees increased $2.2 million, or 38%, during first quarter 2023 as compared to the same quarter in 2022.

Key Points: 
  • Loan interest income including fees increased $2.2 million, or 38%, during first quarter 2023 as compared to the same quarter in 2022.
  • Securities interest income increased $722 thousand, or 52%, during the first quarter 2023 compared to the same quarter 2022 from both rate and volume increases.
  • Loan yields for first quarter 2023 averaged 5.07%, an increase of 88 basis points from the 2022 first quarter average of 4.19%, while security yields for first quarter 2023 averaged 2.18% compared to 1.60% in the first quarter 2022.
  • Interest expense rose $1.3 million, or 341%, during first quarter 2023 as compared to first quarter 2022.

NBT Bancorp Inc. Announces First Quarter Net Income of $33.7 Million ($0.78 Per Diluted Common Share)

Retrieved on: 
Monday, April 24, 2023
NIM, Lender option borrower option, Travel, Salisbury, Paycheck Protection Program, FDIC, Federal, Sale, Durbin, Acquisition, FTE, Durbin amendment, NBT Bank, NBT, Commercial, Retirement, Federal funds, Dodd–Frank Wall Street Reform and Consumer Protection Act, Cryptocurrency, Video game, Bank, Security (finance), Pharmaceutical industry, Coal, Airline, NORWICH

Net income for the three months ended March 31, 2023 was $33.7 million, or $0.78 per diluted common share, compared to $39.1 million, or $0.90 per diluted share, for the three months ended March 31, 2022, and $36.1 million, or $0.84 per diluted share, in the fourth quarter of 2022.

Key Points: 
  • Net income for the three months ended March 31, 2023 was $33.7 million, or $0.78 per diluted common share, compared to $39.1 million, or $0.90 per diluted share, for the three months ended March 31, 2022, and $36.1 million, or $0.84 per diluted share, in the fourth quarter of 2022.
  • The first quarter of 2022 also included $2.0 million ($0.04 per diluted share) of income from the Paycheck Protection Program (“PPP”).
  • The following are highlights comparing the first quarter of 2023 to the prior quarter:
    Average short-term borrowings increased $162.4 million, quarter over quarter.
  • Provision expense was $3.8 million lower than the fourth quarter of 2022 and $3.3 million higher than the first quarter of 2022.

California ERC Eligibility Check For Nonprofits Announced by Let Hutch Help

Retrieved on: 
Sunday, April 23, 2023
Englewood, Organization, Paycheck Protection Program, PPP, W-2, ERC, Federation, IRS, Partnership, Health insurance, Insurance

Englewood, Colorado--(Newsfile Corp. - April 22, 2023) - This recently announced eligibility assessment and application service from Let Hutch Help, in partnership with Jorns & Associates, can help employers to qualify for Employee Retention Credit (ERC), even if they did not meet the program's original requirements. The launch follows the introduction of major changes to the pandemic relief program that have expanded the eligibility guidelines, allowing more employers to receive rebates.

Key Points: 
  • Englewood, Colorado--(Newsfile Corp. - April 22, 2023) - This recently announced eligibility assessment and application service from Let Hutch Help, in partnership with Jorns & Associates, can help employers to qualify for Employee Retention Credit (ERC), even if they did not meet the program's original requirements.
  • The launch follows the introduction of major changes to the pandemic relief program that have expanded the eligibility guidelines, allowing more employers to receive rebates.
  • More information about the simplified eligibility assessment, rebate qualifications, and application process can be found at http://go.lethutchhelp.com/ercchatwithus .
  • More information about the ERC program, the eligibility requirements, and the amount of funding available can be found at http://go.lethutchhelp.com/erc .

ERC Qualification Assessment Service for Seattle Auto Repair Shops Launched by Let Hutch Help LLC

Retrieved on: 
Saturday, April 22, 2023
Organization, Paycheck Protection Program, PPP, W-2, ERC, Louden Monorail System in the Auto Repair Shop, Associate, Video game, Health insurance, Nursing

Englewood, Colorado--(Newsfile Corp. - April 21, 2023) - Auto Repair Shops in Seattle, Washington that have already received PPP loans can now qualify for up to $26,000/employee in ERC pandemic relief funds, which can be claimed using this new eligibility assessment service launched by Let Hutch Help and Jorns & Associates.

Key Points: 
  • Englewood, Colorado--(Newsfile Corp. - April 21, 2023) - Auto Repair Shops in Seattle, Washington that have already received PPP loans can now qualify for up to $26,000/employee in ERC pandemic relief funds, which can be claimed using this new eligibility assessment service launched by Let Hutch Help and Jorns & Associates.
  • Auto Repair Shops in Seattle Washington can access up to $26,000 per employee in pandemic relief funds, which never need to be repaid, using the new fast rebate calculation and application service launched by Let Hutch Help and Jorns & Associates.
  • The rebate application service is open to all business types not just Auto Repair Shops, including startups and non-profit organizations, such as churches, clinics, and performing arts centers.
  • Though most small to medium-sized Auto Repair Shops in Seattle, Washington can now qualify, many employers still believe they are not eligible for rebates after having enrolled in the PPP.

NYC Employee Retention Credit Application Service for Nonprofit, Churches Launched by Let Hutch Help

Retrieved on: 
Saturday, April 22, 2023
Omnibus spending bill, Consolidated Appropriations Act, 2021, Paycheck Protection Program, Organization, PPP, Partnership, ERC, IRS, Health insurance

This new simplified eligibility assessment launched by Let Hutch Help allows organizations to determine if they qualify for Employee Retention Credit (ERC) rebates, using only "Yes or No" answers to three basic questions.

Key Points: 
  • This new simplified eligibility assessment launched by Let Hutch Help allows organizations to determine if they qualify for Employee Retention Credit (ERC) rebates, using only "Yes or No" answers to three basic questions.
  • NYC Employee Retention Credit Application Service for Nonprofit, Churches Launched by Let Hutch Help
    To view an enhanced version of this graphic, please visit:
    The recently launched eligibility assessment is available to any employer that operated a business during the recent pandemic, including startups and non-profit organizations, as well as churches, with no cost or obligation.
  • The application service provided by Let Hutch Help, in partnership with Jorns & Associates, can help employers to claim their maximum allowable rebates under the newest guidelines, which could be up to $26,000 per employee.
  • More information about the ERC program, the maximum allowable rebates, and the fast application service can be found at http://go.lethutchhelp.com/erc .

Fidelity D & D Bancorp, Inc. Reports First Quarter 2023 Financial Results

Retrieved on: 
Friday, April 21, 2023
Borrowing base, ASC, Small Business Administration, Current Expected Credit Losses, Paycheck Protection Program, Discounting, Sale, Fidelity Bank, PPP, Financial instrument, FTE, CECL, Growth, SBA, Small business, TDR, ASU, Cryptocurrency, Life insurance, Bank

DUNMORE, Pa., April 21, 2023 (GLOBE NEWSWIRE) -- Fidelity D & D Bancorp, Inc. (NASDAQ: FDBC) and its banking subsidiary, The Fidelity Deposit and Discount Bank, announced its unaudited, consolidated financial results for the three-month period ended March 31, 2023.

Key Points: 
  • DUNMORE, Pa., April 21, 2023 (GLOBE NEWSWIRE) -- Fidelity D & D Bancorp, Inc. (NASDAQ: FDBC) and its banking subsidiary, The Fidelity Deposit and Discount Bank, announced its unaudited, consolidated financial results for the three-month period ended March 31, 2023.
  • “The first quarter results continue to be positive and reflect the strength and stability of Fidelity Bank.
  • The cost of funds increased 82 basis points to 0.98% for the first quarter of 2023 from 0.16% for the first quarter of 2022.
  • During the first quarter of 2023, the Company adopted Accounting Standard Update 2016-13, Financial Instruments - Credit Losses (Topic 326) Measurement of Credit Losses on Financial Instruments (CECL).

Expanded Pandemic Relief Tax Credit Application Service Introduced by Claim Your ERC Recovery

Retrieved on: 
Thursday, April 20, 2023
Paycheck Protection Program, PPP, W-2, Federation, ERC, CPA, Health insurance

Claim Your ERC Recovery has launched an expanded pandemic relief eligibility assessment to help employers to claim their rebates before the program's deadline.

Key Points: 
  • More information about the specialist CPA team, fast eligibility assessment, and rebate application process can be found at https://claimyourercrecovery.com .
  • With the most recent changes to the ERC program's rebates, Claim Your ERC Recovery can now help employers claim up to $26,000 per employee, with no upper limit on funding.
  • After completing the eligibility assessment, qualifying employers will receive a link to a 15 Minute Refund program, which is offered by the ERC CPA team.
  • More information about the rebate, fast eligibility assessment, and 15 Minute Refund program can be found at https://claimyourercrecovery.com .

Pacific Health Care Organization, Inc. Reports its 2022 Year-End Financial Results

Retrieved on: 
Friday, March 31, 2023
Paycheck Protection Program, Form 10-K, PPP, MMC, MMM, Security (finance), Forgiveness, United States Department of the Treasury, Annual report, Cryptocurrency

Irvine, CA, March 31, 2023 (GLOBE NEWSWIRE) -- Pacific Health Care Organization, Inc., (the “Company”) (OTCQB: PFHO) today filed with the Securities and Exchange Commission (the “Commission”) its annual report on Form 10-K announcing its financial results for the fiscal year ended December 31, 2022.

Key Points: 
  • Irvine, CA, March 31, 2023 (GLOBE NEWSWIRE) -- Pacific Health Care Organization, Inc., (the “Company”) (OTCQB: PFHO) today filed with the Securities and Exchange Commission (the “Commission”) its annual report on Form 10-K announcing its financial results for the fiscal year ended December 31, 2022.
  • The Company reported total revenues of $5,744,957 for the year ended December 31, 2022, compared to $5,403,110 for the year ended December 31, 2021.
  • During the year ended December 31, 2022, net cash used in investing activities was $8,760,177 compared to $18,376 during the year ended December 31, 2021.
  • During the year ended December 31, 2022, we had $0 net cash provided by financing activities compared to $218,900 during the year ended December 31, 2021.

Drawbridge Appoints Chris Aronis as Chief Revenue Officer to Accelerate Growth

Retrieved on: 
Tuesday, April 4, 2023
Professional Services, Data Management, Security, Technology, Software, Finance, Fintech, Small business, Plaid, Marketing, Paycheck Protection Program, Digital banking, Sale, History of numerical control, PPP, Risk, Thoma Bravo, Growth, VC, SunGard, Risk management, Fiserv, Drawbridge

Drawbridge , a premier provider of cybersecurity software and solutions to the alternative investment industry, today announced it has appointed Chris Aronis as its Chief Revenue Officer (CRO).

Key Points: 
  • Drawbridge , a premier provider of cybersecurity software and solutions to the alternative investment industry, today announced it has appointed Chris Aronis as its Chief Revenue Officer (CRO).
  • Aronis will lead the Drawbridge sales, account management and business development teams to accelerate the company’s global growth, enhance client service and evolve its go-to-market strategy.
  • Throughout his career, Aronis has held senior sales and marketing roles at companies such as Charles River, Fiserv, Quovo, Plaid and Sungard.
  • “Drawbridge’s rapid growth and customer satisfaction is a testament to its extraordinary vision and ability to deliver an unmatched cybersecurity platform and customer experience,” said Aronis.