Common equity

First Commonwealth Announces Third Quarter 2023 Earnings; Declares Quarterly Dividend

Retrieved on: 
Tuesday, October 24, 2023
ROA, Sale, FDIC, AFS, Polish–Lithuanian Commonwealth, Real estate, ACL, Commercial property, Share repurchase, Acquisition, Centric, Bank statement, FTE, AOCI, Growth, ID, Tangibility, Small Business Administration, Commercial, Common equity, Total, Hospital, SBA, Bank, Video game, Rare-earth element, Trust

Total average deposits grew $48.4 million in the third quarter of 2023 as compared to the previous quarter.

Key Points: 
  • Total average deposits grew $48.4 million in the third quarter of 2023 as compared to the previous quarter.
  • Provision expense in the third quarter of 2023 totaled $5.9 million as compared to $2.8 million in the previous quarter.
  • First Commonwealth declared a common stock quarterly dividend of $0.125 per share, which represents a 4.2% increase from the third quarter of 2022.
  • First Commonwealth will host a quarterly conference call to discuss its financial results for the third quarter of 2023 on Wednesday, October 25, 2023 at 2:00 PM (ET).

South Plains Financial, Inc. Reports Third Quarter 2023 Financial Results

Retrieved on: 
Tuesday, October 24, 2023
Sale, IPO, SPFI, Eastern Time Zone, Federal Home Loan Banks, Pressure, Federal Reserve Bank of St. Louis, City Bank, Federal Reserve Bank, AOCI, Growth, Common equity, Federal, Cryptocurrency, Video game, Rare-earth element, Bank

LUBBOCK, Texas, Oct. 24, 2023 (GLOBE NEWSWIRE) -- South Plains Financial, Inc. (NASDAQ:SPFI) (“South Plains” or the “Company”), the parent company of City Bank (“City Bank” or the “Bank”), today reported its financial results for the quarter ended September 30, 2023.

Key Points: 
  • LUBBOCK, Texas, Oct. 24, 2023 (GLOBE NEWSWIRE) -- South Plains Financial, Inc. (NASDAQ:SPFI) (“South Plains” or the “Company”), the parent company of City Bank (“City Bank” or the “Bank”), today reported its financial results for the quarter ended September 30, 2023.
  • Net income for the third quarter of 2023 was $13.5 million, compared to $29.7 million for the second quarter of 2023 and $15.5 million for the third quarter of 2022.
  • Average brokered deposits increased approximately $175 million during the third quarter 2023 from the second quarter 2023.
  • South Plains will host a conference call to discuss its third quarter 2023 financial results today, October 24, 2023, at 5:00 p.m., Eastern Time.

United Bankshares, Inc. Announces Earnings for the Third Quarter and First Nine Months of 2023

Retrieved on: 
Wednesday, October 25, 2023
Banking, Professional Services, Finance, United Bank (West Virginia), Insurance, Sale, FDIC, AFS, Paycheck Protection Program, Microsoft, ASU, PPP, Federal Reserve Board of Governors, Corus Bankshares, Growth, COVID-19, MSR, Common equity, CECL, Lender option borrower option, Investment, Video game, Bank, Real estate, Security (finance), United

Net interest income for the third quarter of 2023 increased $992 thousand, or less than 1%, from the second quarter of 2023.

Key Points: 
  • Net interest income for the third quarter of 2023 increased $992 thousand, or less than 1%, from the second quarter of 2023.
  • Noninterest income for the third quarter of 2023 decreased $1.5 million, or 4%, from the second quarter of 2023.
  • Noninterest expense for the third quarter of 2023 decreased $58 thousand, or less than 1%, from the second quarter of 2023.
  • United’s effective tax rate was 20.5% and 20.2% for the third quarter of 2023 and second quarter of 2023, respectively.

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.

Zions Bancorporation, National Association Reports Third Quarter Financial Results

Retrieved on: 
Wednesday, October 18, 2023
Banking, Professional Services, Finance, History, Zions Bancorporation, Growth, Bank, Webcast, ZION, Common equity, Security (finance)

Harris H. Simmons, Chairman and CEO of Zions Bancorporation, commented, “Our third quarter results reflect a stabilization of the net interest margin in the wake of the industry-wide turbulence earlier in the year.

Key Points: 
  • Harris H. Simmons, Chairman and CEO of Zions Bancorporation, commented, “Our third quarter results reflect a stabilization of the net interest margin in the wake of the industry-wide turbulence earlier in the year.
  • Zions has posted a supplemental presentation to its website, which will be used to discuss the third quarter results at 5:30 p.m.
  • A link to the webcast will be available on the Zions Bancorporation website at www.zionsbancorporation.com .
  • The webcast of the conference call will also be archived and available for 30 days.

CrowdStreet Releases Updated Investment Thesis

Retrieved on: 
Wednesday, September 27, 2023
Commercial Building & Real Estate, Technology, Construction & Property, Finance, Other Technology, REIT, Professional Services, Other Construction & Property, Residential Building & Real Estate, Thesis, Philosophy, Common equity, Environment, Federal, Retail, Security (finance), Risk management

CrowdStreet, Inc. ("CrowdStreet"), an award-winning 1online real estate investing platform, today released its updated Investment Thesis.

Key Points: 
  • CrowdStreet, Inc. ("CrowdStreet"), an award-winning 1online real estate investing platform, today released its updated Investment Thesis.
  • The Thesis outlines CrowdStreet’s investment strategy and philosophy amid a commercial real estate (“CRE”) investing landscape defined by interest rates that have risen rapidly.
  • “By employing creative measures and pursuing investment opportunities across the real estate capital stack, CrowdStreet will provide investors with access to deals that we believe align with the current economic conditions,” Formigle said.
  • “In addition to the longstanding relationships with high-quality sponsors that have long been a hallmark of investing with CrowdStreet, we intend to bring deals with risk profiles appropriate for today’s market.”
    “We expect to see additional attractive investment opportunities emerge in the months ahead,” said CrowdStreet interim CEO Jack Chandler.

BNG Bank: strong financial performance and social impact

Retrieved on: 
Monday, September 4, 2023
ESG, EUR, Common equity, AAA, Face, Bank

THE HAGUE, Netherlands, Sept. 4, 2023 /PRNewswire/ -- Gita Salden, CEO of BNG Bank: "Even in these turbulent times, we stand firmly behind our clients. We want to be a reliable, predictable partner and support our clients in performing their social tasks enabling them to make an impact. In the first half of 2023, BNG Bank once again managed to achieve this ambition.

Key Points: 
  • THE HAGUE, Netherlands, Sept. 4, 2023 /PRNewswire/ -- Gita Salden, CEO of BNG Bank: "Even in these turbulent times, we stand firmly behind our clients.
  • We want to be a reliable, predictable partner and support our clients in performing their social tasks enabling them to make an impact.
  • BNG Bank also managed to attract sufficient funding at good conditions in terms of volume, maturity and pricing.
  • In the second half of this year, BNG Bank will continue on the course it has set, based on its Our Road to Impact strategy.

Grupo Supervielle Reports 2Q23 Results

Retrieved on: 
Wednesday, August 23, 2023
Professional Services, Finance, NIM, ABA, LLP, IAS 8, Quarter, Jules Supervielle, Central bank, Coverage, Central Bank of Myanmar, NPL, Common equity, Repurchase agreement, Futures contract, Sale, Asset, Asset–liability mismatch, Primary, Yoy, Bank, IAS, Robbins Geller Rudman & Dowd LLP, BYMA, ROE, NYSE, Rare-earth element, Cryptocurrency, Management, Music

Grupo Supervielle S.A. (NYSE: SUPV; BYMA: SUPV), (“Supervielle” or the “Company”) a universal financial services group headquartered in Argentina with a nationwide presence, today reported results for the three and six-months period ended June 30, 2023.

Key Points: 
  • Grupo Supervielle S.A. (NYSE: SUPV; BYMA: SUPV), (“Supervielle” or the “Company”) a universal financial services group headquartered in Argentina with a nationwide presence, today reported results for the three and six-months period ended June 30, 2023.
  • Starting 1Q20, the Company began reporting results applying Hyperinflation Accounting, in accordance with IFRS rule IAS 29 (“IAS 29”) as established by the Central Bank.
  • Commenting on second quarter 2023 results, Patricio Supervielle, Grupo Supervielle’s Chairman & CEO, noted: “We delivered positive ROAE improving to 17.6% in real terms as we continue executing on our strategic plan and progressing on our path to profitability while at the same time navigating a complex macroeconomic and political environment.
  • Net loan loss provisions amounted to AR$2.6 billion in 2Q23 compared to AR$3.5 billion in 1Q23 and AR$5.5 billion in 2Q22.

American Savings Bank Reaffirms Strong Capital Position, Excellent Credit Quality and Ample Liquidity in Aftermath of Maui Wildfires

Retrieved on: 
Wednesday, August 23, 2023
Professional Services, Philanthropy, Environment, Natural Disasters, Other Philanthropy, Finance, Banking, American Red Cross, Federal Home Loan Banks, American Savings Bank, Risk-weighted asset, Ontario Student Assistance Program, Savings bank, ASB, Common equity, FDIC, Fire, HCF, Federal Reserve, Bank

American Savings Bank (ASB) is well positioned and stands ready to support our community as families heal and rebuild in the aftermath of the Maui wildfires.

Key Points: 
  • American Savings Bank (ASB) is well positioned and stands ready to support our community as families heal and rebuild in the aftermath of the Maui wildfires.
  • We are heartbroken for our community but committed to use our strong liquidity and capital position to help Maui rebuild,” said Ann Teranishi, president and CEO of American Savings Bank.
  • “We are here to support our community and work with borrowers through this challenging time and beyond.”
    ASB is an independent company founded in 1925.
  • ASB recently announced a $100,000 commitment, including $50,000 to Hawaii Community Foundation’s (HCF) Maui Strong campaign, $25,000 to American Red Cross and $25,000 to Maui United Way.

Leumi concludes Q2 2023 with a NIS 2.4 billion ($649 million) profit - and with a dividend distribution and share buyback of some NIS 1 billion ($270 million)

Retrieved on: 
Tuesday, August 15, 2023
Bank statement, Common equity, Valley Bank, Share repurchase, TEL, HQ, TASE, Growth, NIS, Bank, Holding company, Bank Leumi, Lod

Return on equity in the second quarter of 2023 was 19.4%, compared to 18.5% in the corresponding quarter last year.

Key Points: 
  • Return on equity in the second quarter of 2023 was 19.4%, compared to 18.5% in the corresponding quarter last year.
  • Efficiency ratio in the second quarter of 2023 was 29.5%, compared with 35% in the corresponding quarter last year.
  • Dividend and share buyback: The Bank's Board of Directors approved a dividend distribution totaling NIS 736 million ($199 million), which together with a share buyback of NIS 300 million ($81 million) represent approx.
  • The share buyback which took place is part of an overall plan of up to NIS 800 million ($216 million).