PTPP

USCB Financial Holdings, Inc. Reports Diluted EPS of $0.14 for Q4 2023

Retrieved on: 
Thursday, January 25, 2024
PTPP, NIM, U.S. Century Bank, USCB, ACL, Bank, Federal, Federal Reserve, History, Current Expected Credit Losses, Futures contract, Webcast, Century Bank, Cryptocurrency

Annualized return on average assets for the quarter ended December 31, 2023 was 0.48% compared to 0.86% for the fourth quarter of 2022.

Key Points: 
  • Annualized return on average assets for the quarter ended December 31, 2023 was 0.48% compared to 0.86% for the fourth quarter of 2022.
  • The efficiency ratio for the quarter ended December 31, 2023 was 68.27% compared to 59.81% for the fourth quarter of 2022.
  • Operating efficiency ratio (non-GAAP financial measure) for the quarter ended December 31, 2023 was 64.63% compared to 53.46% for the fourth quarter of 2022.
  • To access the conference call, dial (833) 816-1416 (U.S. toll-free) and ask to join the USCB Financial Holdings Call.

Origin Bancorp, Inc. Reports Earnings For Fourth Quarter and 2023 Full Year

Retrieved on: 
Wednesday, January 24, 2024
PTPP, OBK, Federal, Florida Panhandle, FHLB, Federal Reserve, LOC, Federal funds, Sale, GAAP, EPS, Three Months, Growth

Adjusted pre-tax, pre-provision (“adjusted PTPP”)(1) earnings was $26.7 million for the quarter ended December 31, 2023, compared to $30.7 million for the linked quarter.

Key Points: 
  • Adjusted pre-tax, pre-provision (“adjusted PTPP”)(1) earnings was $26.7 million for the quarter ended December 31, 2023, compared to $30.7 million for the linked quarter.
  • Adjusted diluted earnings per common share(1) was $0.60 for the quarter ended December 31, 2023, compared to $0.71 for the linked quarter.
  • Provision for credit losses was $2.7 million for the quarter ended December 31, 2023, compared to $3.5 million for the linked quarter.
  • The average rate on interest-bearing deposits increased to 3.71% for the quarter ended December 31, 2023, compared to 3.47% for the quarter ended September 30, 2023.

OceanFirst Financial Corp. Announces Quarterly and Annual Earnings and Financial Results

Retrieved on: 
Thursday, January 18, 2024
PTPP, Durbin amendment, FDIC, Credit, Trust, Federal Deposit Insurance Corporation, FHLB, Shareholder, Environment, Sale, Tax, GAAP, Investment, Federal Home Loan Banks, Annual general meeting, PCD, OceanFirst Bank, Growth, Bank

1 Core earnings and core earnings before income taxes and provision for credit losses (“PTPP or Pre-Tax-Pre-Provision”), and ratios derived therefrom, are non-GAAP financial measures.

Key Points: 
  • 1 Core earnings and core earnings before income taxes and provision for credit losses (“PTPP or Pre-Tax-Pre-Provision”), and ratios derived therefrom, are non-GAAP financial measures.
  • Refer to “Explanation of Non-GAAP Financial Measures” and the “Non-GAAP Reconciliation” tables for additional information regarding non-GAAP financial measures.
  • Refer to “Explanation of Non-GAAP Financial Measures” and the “Non-GAAP Reconciliation” tables for additional information regarding non-GAAP financial measures.
  • OceanFirst Financial Corp.’s subsidiary, OceanFirst Bank N.A., founded in 1902, is a $13.5 billion regional bank providing financial services throughout New Jersey and in the major metropolitan markets of Philadelphia, New York, Baltimore, and Boston.

The First Bancorp Reports Results for 2023

Retrieved on: 
Wednesday, January 24, 2024
Banking, Professional Services, Finance, PTPP, FDIC, ASC, CECL, Total, Bank, Insurance, Federal, Efficiency ratio, Federal Reserve, Environment, Sale, FNLC, Investment, Common equity, First Bancorp, First National Bank, Cryptocurrency

The First Bancorp (Nasdaq: FNLC), parent company of First National Bank, today announced operating results for the year ended December 31, 2023.

Key Points: 
  • The First Bancorp (Nasdaq: FNLC), parent company of First National Bank, today announced operating results for the year ended December 31, 2023.
  • The Company also announced operating results for the three months ended December 31, 2023.
  • “The First Bancorp ended 2023 with annual earnings of $29.5 million," commented Tony C. McKim, the Company’s President and Chief Executive Officer.
  • Mr. McKim continued, "Results for the fourth quarter of 2023 were on trend with the year as a whole.

Origin Bancorp, Inc. Reports Earnings for Third Quarter 2023

Retrieved on: 
Wednesday, October 25, 2023
Sale, NYSE, Federal Home Loan Banks, Three Months, Federal Reserve, Federal Reserve Board of Governors, GAAP, Federal funds, PTPP, Federal, EPS, NIM, FHLB, Borrowing base, OBK, Rare-earth element, Bank, Payment card, Clothing, Video game

Diluted earnings per share (“EPS”) was $0.79 for the quarter ended September 30, 2023, reflecting an increase of $0.09, or 12.9%, compared to $0.70 for the linked quarter.

Key Points: 
  • Diluted earnings per share (“EPS”) was $0.79 for the quarter ended September 30, 2023, reflecting an increase of $0.09, or 12.9%, compared to $0.70 for the linked quarter.
  • The adjusted diluted earnings per share(1) was $0.71 for the quarter ended September 30, 2023, reflecting an increase of $0.02, or 2.9%, compared to $0.69 for the linked quarter.
  • The average rate on interest-bearing deposits increased to 3.47% for the quarter ended September 30, 2023, compared to 3.05% for the quarter ended June 30, 2023.
  • The yield on LHFI was 6.35% and 6.18% for the quarter ended September 30, 2023, and June 30, 2023, respectively, and average LHFI balances increased $86.8 million to $7.56 billion for the quarter ended September 30, 2023, compared to $7.47 billion for the linked quarter.

OceanFirst Financial Corp. Announces Third Quarter Financial Results

Retrieved on: 
Thursday, October 19, 2023
PCD, Sale, OceanFirst Bank, Tax, Federal Home Loan Banks, 107th Grey Cup, Net, GAAP, PTPP, Environment, Trust, Growth, Durbin, FHLB, Credit, Durbin amendment, Investment, Uncertainty, Bank, Security (finance), Life insurance, Cryptocurrency, Reinsurance, Clothing, Insurance, Pharmaceutical industry, Financial services

Refer to “Explanation of Non-GAAP Financial Measures” and the “Non-GAAP Reconciliation” tables for additional information regarding non-GAAP financial measures.

Key Points: 
  • Refer to “Explanation of Non-GAAP Financial Measures” and the “Non-GAAP Reconciliation” tables for additional information regarding non-GAAP financial measures.
  • Refer to “Explanation of Non-GAAP Financial Measures” and the “Non-GAAP Reconciliation” tables for additional information regarding non-GAAP financial measures.
  • The current quarter results were impacted by the following matters.
  • OceanFirst Financial Corp.’s subsidiary, OceanFirst Bank N.A., founded in 1902, is a $13.5 billion regional bank providing financial services throughout New Jersey and in the major metropolitan markets of Philadelphia, New York, Baltimore, and Boston.

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.

Oceanfirst Financial Corp. Announces Second Quarter Financial Results

Retrieved on: 
Thursday, July 20, 2023
PTPP, PCD, FHLB, OceanFirst Bank, Asset quality, Tax, GAAP, Sale, Federal Home Loan Banks, Net, Financial Accounting Standards Board, Trust, Acquisition, Investment, Exhibit, Bankcard, Credit, Environment, Security (finance), Bank, Life insurance, Cryptocurrency, Clothing, Insurance, Financial services

Book value and tangible book value per share were $27.37 and $17.723, respectively, both up $0.30 from the prior quarter.

Key Points: 
  • Book value and tangible book value per share were $27.37 and $17.723, respectively, both up $0.30 from the prior quarter.
  • Refer to “Explanation of Non-GAAP Financial Measures” and the “Non-GAAP Reconciliation” tables for additional information regarding non-GAAP financial measures.
  • Refer to “Explanation of Non-GAAP Financial Measures” and the “Non-GAAP Reconciliation” tables for additional information regarding non-GAAP financial measures.
  • OceanFirst Financial Corp.’s subsidiary, OceanFirst Bank N.A., founded in 1902, is a $13.5 billion regional bank providing financial services throughout New Jersey and in the major metropolitan markets of Philadelphia, New York, Baltimore, and Boston.

The First Bancorp Announces Second Quarter Earnings

Retrieved on: 
Wednesday, July 19, 2023
Banking, Professional Services, CD, PTPP, Insurance, FHLB, First Bancorp, Efficiency ratio, Common equity, FDIC, RESULTS, Sale, Asset, First BanCorp, First National Bank, Investment, CECL, FNLC, Tangible common equity, Bank, ACL, NOW, W Holding Company, Money market, Real estate, Rare-earth element, Cryptocurrency, Holding company, Beauty salon

Compared to prior periods, earnings for the second quarter of 2023 were down from the net income of $10.0 million and diluted earnings per share of $0.91 reported in the second quarter of 2022, and down from the net income of $8.0 million and diluted earnings per share of $0.72 reported for the first quarter of 2023.

Key Points: 
  • Compared to prior periods, earnings for the second quarter of 2023 were down from the net income of $10.0 million and diluted earnings per share of $0.91 reported in the second quarter of 2022, and down from the net income of $8.0 million and diluted earnings per share of $0.72 reported for the first quarter of 2023.
  • Turning to second quarter results, Mr. McKim remarked “Higher funding costs again negatively impacted our bottom line in the second quarter.
  • The Company’s Return on Average Assets of 1.04% for the quarter was down from 1.16%; the second quarter 2023 PTPP Return on Average Assets was 1.26%, down from 1.49% in the prior quarter.
  • The Company's Efficiency Ratio (non-GAAP) was 52.89% in the second quarter of 2023, up from 49.98% in the first quarter of 2023.

OceanFirst Financial Corp. Announces First Quarter Financial Results

Retrieved on: 
Thursday, April 20, 2023
PTPP, OCC, Insurance, PCD, Shareholder, FHLB, OceanFirst Bank, Eastern Time Zone, Telephone, Tax, GAAP, Sale, Federal Home Loan Banks, Net, Financial Accounting Standards Board, Trust, Acquisition, Investment, Access, Risk, Hand, Environment, Safety, Bank, Pharmaceutical industry, Life insurance, Security (finance), Video game, Trident

While down relative to a very strong linked quarter, the current quarter results compare favorably to the preceding three quarters of 2022.

Key Points: 
  • While down relative to a very strong linked quarter, the current quarter results compare favorably to the preceding three quarters of 2022.
  • Refer to “Explanation of Non-GAAP Financial Measures” and the “Non-GAAP Reconciliation” tables for additional information regarding non-GAAP financial measures.
  • Refer to “Explanation of Non-GAAP Financial Measures” and the “Non-GAAP Reconciliation” tables for additional information regarding non-GAAP financial measures.
  • OceanFirst Financial Corp.’s subsidiary, OceanFirst Bank N.A., founded in 1902, is a $13.6 billion regional bank providing financial services throughout New Jersey and in the major metropolitan markets of Philadelphia, New York, Baltimore, and Boston.