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Commercial National Financial Corporation Reports 4th Quarter 2023 Earnings

Retrieved on:

Friday, January 26, 2024

ITHACA, Mich., Jan. 26, 2024 (GLOBE NEWSWIRE) -- Commercial National Financial Corporation (Pink Sheets: CEFC) today announced that net income for the fourth quarter of 2023 was $1,458,000 or $0.37 per share compared to fourth quarter 2022 net income of $1,912,000 or $0.48 per share.

Key Points:

ITHACA, Mich., Jan. 26, 2024 (GLOBE NEWSWIRE) -- Commercial National Financial Corporation (Pink Sheets: CEFC) today announced that net income for the fourth quarter of 2023 was $1,458,000 or $0.37 per share compared to fourth quarter 2022 net income of $1,912,000 or $0.48 per share.
Return on Equity (ROE) was 13.34% for the fourth quarter of 2023 compared to 19.86% for the fourth quarter of 2022.
Net interest income for the fourth quarter of 2023 decreased by $523,000 or 10.3% compared to the fourth quarter of 2022.
While interest income increased due to higher market interest rates, interest expense on deposits increased at a higher pace during 2023, which resulted in lower net interest margins and reduced income.

First Community Bankshares, Inc. Announces Fourth Quarter 2023 Results and Quarterly Cash Dividend

Retrieved on:

Tuesday, January 23, 2024

Table, ROA, ROE, Share repurchase, Interest, FTE, GAAP, News

The Company reported net income of $11.78 million, or $0.66 per diluted common share, for the quarter ended December 31, 2023.

Key Points:

The Company reported net income of $11.78 million, or $0.66 per diluted common share, for the quarter ended December 31, 2023.
The Company also declared a quarterly cash dividend to common shareholders of twenty-nine cents $0.29 per common share.
Adjusted for non-recurring items, ROA was 1.77% and ROE was 11.63% for the fourth quarter of 2023.
The Company repurchased 189,500 common shares during the fourth quarter of 2023 for a total cost of $5.98 million.

AM Best Affirms Credit Ratings of Nippon Life Insurance Company

Retrieved on:

Thursday, January 25, 2024

AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “aa-” (Superior) of Nippon Life Insurance Company (Nissay) (Japan).

Key Points:

AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “aa-” (Superior) of Nippon Life Insurance Company (Nissay) (Japan).
Concurrently, AM Best has affirmed the FSR of A- (Excellent) and the Long-Term ICR of “a-” (Excellent) of Nippon Life Insurance Company of America (NLB) (West Des Moines, Iowa, USA).
For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings .
For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments .

INSBANK Parent InsCorp Reports Annual Profits

Retrieved on:

Monday, January 29, 2024

FDIC, ROA, ACL, Policy, Bank, ROE, Treasury, Risk management, EPS, Pressure, Comprehensive income, AOCI, OTCQX

NASHVILLE, Tenn., Jan. 29, 2024 /PRNewswire/ -- Today InsCorp (OTCQX: IBTN) reported a net profit of $2,267,000, or $0.79 per share, in the fourth quarter of 2023 compared to respective levels of $2,319,000 and $0.80 for the fourth quarter of 2022. For the year, net profit of $8,404,000, or $2.92 per share, in 2023 compared to $10,336,000, which benefited from a one-time $2,900,000 gain, or $3.59 per share, in 2022. InsCorp generated a ROA of 1.06% and ROE of 12.8% in 2023.

Key Points:

InsCorp generated a ROA of 1.06% and ROE of 12.8% in 2023.
INSBANK has demonstrated relative stability in a volatile environment over the past couple of years.
Net interest income decreased 1% to $6,481,000 in the fourth quarter and increased 5% for the year to $25,430,000.
"As our company continues to grow, increasing the frequency of dividend distribution is a logical step for our shareholders," said Mike Qualls, Chairman of InsCorp.

D.R. Horton, Inc., America’s Builder, Reports Fiscal 2024 First Quarter Earnings and Declares Quarterly Dividend of $0.30 Per Share

Retrieved on:

Tuesday, January 23, 2024

Commercial Building & Real Estate, Construction & Property, Urban Planning, REIT, Landscape, Interior Design, Building Systems, Architecture, Other Construction & Property, Residential Building & Real Estate, Bank statement, ROE, Housing, Forestar Group, D. R. Horton, DHI, Consolidated, ROI, Video game

Horton for its first fiscal quarter ended December 31, 2023 increased 2% to $2.82 per diluted share compared to $2.76 per diluted share in the same quarter of fiscal 2023.

Key Points:

Horton for its first fiscal quarter ended December 31, 2023 increased 2% to $2.82 per diluted share compared to $2.76 per diluted share in the same quarter of fiscal 2023.
Horton in the first quarter of fiscal 2024 decreased 1% to $947.4 million compared to $958.7 million in the same quarter of fiscal 2023.
Consolidated revenues in the first quarter of fiscal 2024 increased 6% to $7.7 billion compared to $7.3 billion in the same quarter of fiscal 2023.
Horton team delivered solid results in the first fiscal quarter of 2024, highlighted by earnings of $2.82 per diluted share.

CSB Bancorp, Inc. Reports Fourth Quarter Earnings

Retrieved on:

Tuesday, January 23, 2024

Loan yields for fourth quarter 2023 averaged 5.64%, an increase of 82 basis points from the 2022 fourth quarter average of 4.82%, while overnight funds and securities yields for fourth quarter 2023 averaged 5.54% and 2.20%, respectively, compared to 3.74% and 2.07% in the fourth quarter 2022.

Key Points:

Loan yields for fourth quarter 2023 averaged 5.64%, an increase of 82 basis points from the 2022 fourth quarter average of 4.82%, while overnight funds and securities yields for fourth quarter 2023 averaged 5.54% and 2.20%, respectively, compared to 3.74% and 2.07% in the fourth quarter 2022.
Interest expense rose $2.0 million, or 172%, during fourth quarter 2023 as compared to fourth quarter 2022.
The cost to fund gross earning assets for the fourth quarter 2023 was 1.12% as compared to 0.41% for the fourth quarter of 2022.
Federal income tax expense was $912 thousand in the 2023 fourth quarter compared to $921 thousand in the 2022 fourth quarter.

TNB ANNOUNCES EARNINGS AND STOCK REPURCHASE PLAN

Retrieved on:

Wednesday, January 24, 2024

ROA, TNB, Bank, Culture, ROE, OTC, Acquisition, Investment, Growth

The company also announced that its board of directors has authorized the company to repurchase up to $5 million of its outstanding common stock.

Key Points:

The company also announced that its board of directors has authorized the company to repurchase up to $5 million of its outstanding common stock.
The talent, pride and competitive spirit of our bankers makes us more confident than ever about the future of TNB."
In commenting on the common stock repurchase plan, Stephen Cheney, CEO stated "We continue to see a substantial opportunity for value creation in our Company over the long term.
The strength of our business model, balance sheet and cash flow enable us to continue investing for the long term, while also opportunistically buying back stock through our repurchase plan."

Ping An Named Brand Finance's Most Valuable Insurance Brand in China for the 8th Consecutive Year

Retrieved on:

Thursday, January 18, 2024

Social responsibility, Insurance, ROE, HKEX, ESG, Ping'an, Ping, Rejuvenation, MSCI

HONG KONG and SHANGHAI, Jan. 18, 2024 /PRNewswire/ -- Leading brand valuation consultancy Brand Finance has named China's Most Valuable Insurance Brand as Ping An Insurance (Group) Company of China, Ltd. (hereafter "Ping An", the "Company" or the "Group", HKEX: 2318 / 82318; SSE: 601318).

Key Points:

HONG KONG and SHANGHAI, Jan. 18, 2024 /PRNewswire/ -- Leading brand valuation consultancy Brand Finance has named China's Most Valuable Insurance Brand as Ping An Insurance (Group) Company of China, Ltd. (hereafter "Ping An", the "Company" or the "Group", HKEX: 2318 / 82318; SSE: 601318).
In 2023, despite the complex external landscape, Ping An upheld its brand promise of "Expertise makes life simple", closely aligned to its "integrated finance + healthcare" strategy.
It ensured the resilience of its brand value by expanding its presence in comprehensive financial scenarios across different ecosystems.
By offering one-stop integrated finance and healthcare services, Ping An offers customers a "worry-free, time-saving, and money-saving" experience.

Ping An Named Brand Finance's Most Valuable Insurance Brand in China for the 8th Consecutive Year

Retrieved on:

Thursday, January 18, 2024

Social responsibility, Insurance, ROE, HKEX, ESG, Ping'an, Ping, Rejuvenation, MSCI

HONG KONG and SHANGHAI, Jan. 18, 2024 /PRNewswire/ -- Leading brand valuation consultancy Brand Finance has named China's Most Valuable Insurance Brand as Ping An Insurance (Group) Company of China, Ltd. (hereafter "Ping An", the "Company" or the "Group", HKEX: 2318 / 82318; SSE: 601318).

Key Points:

HONG KONG and SHANGHAI, Jan. 18, 2024 /PRNewswire/ -- Leading brand valuation consultancy Brand Finance has named China's Most Valuable Insurance Brand as Ping An Insurance (Group) Company of China, Ltd. (hereafter "Ping An", the "Company" or the "Group", HKEX: 2318 / 82318; SSE: 601318).
In 2023, despite the complex external landscape, Ping An upheld its brand promise of "Expertise makes life simple", closely aligned to its "integrated finance + healthcare" strategy.
It ensured the resilience of its brand value by expanding its presence in comprehensive financial scenarios across different ecosystems.
By offering one-stop integrated finance and healthcare services, Ping An offers customers a "worry-free, time-saving, and money-saving" experience.

Grand Casino Hotel Resort Elevates Operations, Enhances Guest Experience and Streamlines Infrastructure With Agilysys Solutions

Retrieved on:

Tuesday, January 9, 2024

Technology, Casino, Gaming, Entertainment, Software, Other Travel, Lodging, Destinations, Data Management, Travel, Golf, F&B, ROE, POS, Food, Sale, Citizen Potawatomi Nation, Restaurant, Hotel

An award-winning point-of-sale (POS) system that brings leading-edge security along with ease-of-use and transaction efficiency to sales transactions across the property.

Key Points:

An award-winning point-of-sale (POS) system that brings leading-edge security along with ease-of-use and transaction efficiency to sales transactions across the property.
A spa management application that ensures an exclusive spa experience for every guest while optimizing therapist and treatment room utilization.
“These Agilysys cutting-edge solutions not only improved hotel operations, but also our casino operations.
The casino hotel destination, located a short drive east of Oklahoma City, is the perfect weekend getaway.