Common equity

Century Next Financial Corporation Reports 2023 Year-End Results

Retrieved on: 
Friday, January 26, 2024

RUSTON, La., Jan. 26, 2024 (GLOBE NEWSWIRE) -- Century Next Financial Corporation (the “Company”) (OTCQX: CTUY), the holding company of Century Next Bank, with $765.8 million in assets, today announced financial results for the year ended December 31, 2023.

Key Points: 
  • RUSTON, La., Jan. 26, 2024 (GLOBE NEWSWIRE) -- Century Next Financial Corporation (the “Company”) (OTCQX: CTUY), the holding company of Century Next Bank, with $765.8 million in assets, today announced financial results for the year ended December 31, 2023.
  • This growth in cash and cash equivalents provided strength to the Company’s liquidity position during the year ending December 31, 2023.
  • Return on average assets was 0.95% for the year ended December 31, 2023, an increase compared to 0.85% for the year ended December 31, 2023.
  • Century Next Financial Corporation is the holding company for Century Next Bank (the “Bank”) which conducts business from its main office in Ruston, Louisiana.

South Plains Financial, Inc. Reports Fourth Quarter and Year-End 2023 Financial Results

Retrieved on: 
Friday, January 26, 2024

Net income for the fourth quarter of 2023 was $10.3 million, compared to $13.5 million for the third quarter of 2023 and $12.6 million for the fourth quarter of 2022.

Key Points: 
  • Net income for the fourth quarter of 2023 was $10.3 million, compared to $13.5 million for the third quarter of 2023 and $12.6 million for the fourth quarter of 2022.
  • Diluted earnings per share for the fourth quarter of 2023 was $0.61, compared to $0.78 for the third quarter of 2023 and $0.71 for the fourth quarter of 2022.
  • Annualized net charge-offs were 0.08% for the fourth quarter of 2023, compared to 0.05% for the third quarter of 2023 and 0.09% for the fourth quarter of 2022.
  • South Plains will host a conference call to discuss its fourth quarter and year-end 2023 financial results today, January 26, 2024, at 10:00 a.m., Eastern Time.

Financial Institutions, Inc. Announces Fourth Quarter and Full Year 2023 Results

Retrieved on: 
Thursday, January 25, 2024

Net income was $9.8 million in the fourth quarter of 2023, compared to $14.0 million in the third quarter of 2023 and $12.1 million in the fourth quarter of 2022.

Key Points: 
  • Net income was $9.8 million in the fourth quarter of 2023, compared to $14.0 million in the third quarter of 2023 and $12.1 million in the fourth quarter of 2022.
  • Noninterest expense was $35.0 million in the fourth quarter of 2023 compared to $34.7 million in the third quarter of 2023 and $33.5 million in the fourth quarter of 2022.
  • Income tax expense was $5.2 million for the fourth quarter of 2023 compared to $2.4 million in the third quarter of 2023, and $2.4 million in the fourth quarter of 2022.
  • The effective tax rate was 34.5% for the fourth quarter of 2023, 14.8% for the third quarter of 2023, and 16.4% for the fourth quarter of 2022.

Seacoast Reports Fourth Quarter and Full Year 2023 Results

Retrieved on: 
Thursday, January 25, 2024

STUART, Fla., Jan. 25, 2024 (GLOBE NEWSWIRE) -- Seacoast Banking Corporation of Florida ("Seacoast" or the "Company") (NASDAQ: SBCF) today reported net income in the fourth quarter of 2023 of $29.5 million, or $0.35 per diluted share, compared to $31.4 million, or $0.37 per diluted share in the third quarter of 2023 and $23.9 million, or $0.34 per diluted share in the fourth quarter of 2022. For the year ended December 31, 2023, net income was $104.0 million, or $1.23 per diluted share, compared to $106.5 million, or $1.66 per diluted share, for the year ended December 31, 2022.

Key Points: 
  • Pre-tax pre-provision earnings1 were $42.0 million in the fourth quarter of 2023, a decrease of 3% compared to the third quarter of 2023 and a decrease of 9% compared to the fourth quarter of 2022.
  • Accretion on acquired loans totaled $11.3 million in the fourth quarter of 2023, $14.8 million in the third quarter of 2023, and $9.7 million in the fourth quarter of 2022.
  • Seacoast recorded $8.3 million of income tax expense in the fourth quarter of 2023, compared to $9.1 million in the third quarter of 2023, and $7.8 million in the fourth quarter of 2022.
  • SBA originations were $25.0 million during the fourth quarter of 2023, compared to $12.5 million in the third quarter of 2023 and $7.4 million in the fourth quarter of 2022.

Amalgamated Financial Corp. Reports Fourth Quarter 2023 Financial Results: $170.8 Million Deposit Growth Excluding Brokered CDs; Net Interest Margin Rises to 3.44%

Retrieved on: 
Thursday, January 25, 2024

Net interest income was $67.3 million for the fourth quarter of 2023, compared to $63.7 million for the third quarter of 2023.

Key Points: 
  • Net interest income was $67.3 million for the fourth quarter of 2023, compared to $63.7 million for the third quarter of 2023.
  • Net interest margin was 3.44% for the fourth quarter of 2023, an increase of 15 basis points from 3.29% in the third quarter of 2023.
  • Core non-interest income1 was $8.5 million for the fourth quarter of 2023, compared to $7.8 million in the third quarter of 2023.
  • Core non-interest expense1 for the fourth quarter of 2023 was $37.7 million, an increase of $0.7 million from the third quarter of 2023.

First Merchants Corporation Announces Fourth Quarter 2023 Earnings Per Share

Retrieved on: 
Thursday, January 25, 2024

First Merchants Corporation (the “Corporation”) has reported fourth quarter 2023 net income available to common stockholders of $42.0 million compared to $70.3 million during the same period in 2022.

Key Points: 
  • First Merchants Corporation (the “Corporation”) has reported fourth quarter 2023 net income available to common stockholders of $42.0 million compared to $70.3 million during the same period in 2022.
  • Diluted earnings per common share for the period totaled $0.71 per share compared to the fourth quarter of 2022 result of $1.19 per share.
  • Noninterest income, totaling $26.4 million for the quarter, decreased $1.4 million, or 5.0 percent, compared to the third quarter of 2023 but increased $2.3 million from the fourth quarter of 2022.
  • First Merchants Corporation will conduct a fourth quarter earnings conference call and web cast at 11:30 a.m. (ET) on Thursday, January 25, 2024.

First Bank Announces Fourth Quarter 2023 Net Income of $8.4 Million and Full Year Net Income of $20.9 Million

Retrieved on: 
Wednesday, January 24, 2024

Net income for the fourth quarter of 2023 was $8.4 million, or $0.33 per diluted share, compared to $9.1 million, or $0.46 per diluted share, for the fourth quarter of 2022.

Key Points: 
  • Net income for the fourth quarter of 2023 was $8.4 million, or $0.33 per diluted share, compared to $9.1 million, or $0.46 per diluted share, for the fourth quarter of 2022.
  • Fourth Quarter and Full Year 2023 Performance Highlights:
    Total net revenue (net interest income plus non-interest income) of $28.0 million for the fourth quarter of 2023 increased $2.8 million, or 11.1%, compared to the prior year quarter, while full year total net revenue was $103.8 million, an increase of $6.3 million, or 6.5%, compared to 2022.
  • Non-interest bearing deposits increased $8.1 million during the fourth quarter of 2023 while interest bearing deposits decreased $7.9 million.
  • The Bank recorded net charge-offs of $209,000 during the fourth quarter of 2023 compared to net charge-offs of $1.1 million in the third quarter of 2023 and net recoveries of $213,000 in the fourth quarter of 2022.

United Bankshares, Inc. Announces Earnings for the Fourth Quarter and Year of 2023

Retrieved on: 
Friday, January 26, 2024

Net interest income for the fourth quarter of 2023 increased $1.2 million, or 1%, from the third quarter of 2023.

Key Points: 
  • Net interest income for the fourth quarter of 2023 increased $1.2 million, or 1%, from the third quarter of 2023.
  • Noninterest income for the fourth quarter of 2023 was flat from the third quarter of 2023, increasing $14 thousand, or less than 1%.
  • Noninterest expense for the fourth quarter of 2023 increased $17.1 million, or 13%, from the third quarter of 2023.
  • United’s effective tax rate was 23.8% and 20.5% for the fourth quarter of 2023 and third quarter of 2023, respectively.

CBB Bancorp, Inc. Reports Fourth Quarter 2023 Financial Results

Retrieved on: 
Friday, January 26, 2024

The return on average assets for the fourth quarter 2023 was 1.54% compared to 1.46% for the third quarter 2023 and 1.64% for the fourth quarter 2022.

Key Points: 
  • The return on average assets for the fourth quarter 2023 was 1.54% compared to 1.46% for the third quarter 2023 and 1.64% for the fourth quarter 2022.
  • The net interest margin for the fourth quarter 2023 was 3.86%, compared to 4.01% for the third quarter 2023 and 4.59% for the fourth quarter 2022.
  • The efficiency ratio for the fourth quarter 2023 was 49.45%, compared to 52.23% for the third quarter 2023 and 51.41% for the fourth quarter 2022.
  • The net interest margin for the fourth quarter 2023 was 3.86%, compared to 4.01% for the third quarter 2023 and 4.59% for the fourth quarter 2022.

Bankwell Financial Group Reports Operating Results for the Fourth Quarter and Full Year 2023; Declares First Quarter Dividend

Retrieved on: 
Wednesday, January 24, 2024

Noninterest expense to average assets was 1.56% for the quarter ended December 31, 2023 and 1.55% for the year ended December 31, 2023.

Key Points: 
  • Noninterest expense to average assets was 1.56% for the quarter ended December 31, 2023 and 1.55% for the year ended December 31, 2023.
  • Return on average assets was 1.03% for the quarter ended December 31, 2023 and 1.13% for the year ended December 31, 2023.
  • The net interest margin was 2.81% for the quarter ended December 31, 2023 and 2.98% for the year ended December 31, 2023.
  • Net income for the quarter ended December 31, 2023 was $8.5 million, versus $8.0 million for the quarter ended December 31, 2022.