Federal Deposit Insurance Corporation

Elmer Bancorp, Inc. Announces Second Consecutive Year of Record Earnings, Fourth Quarter and 2023 Annual Financial Results

Retrieved on: 
Thursday, January 25, 2024
Banking, Professional Services, OTC Markets Group, FDIC, Employment, Advertising, Bank, History, The First, IRA, Environment, National bank, Investment, ELMER, COVID-19, Federal Deposit Insurance Corporation, Marketing, First National Bank

ELMER BANCORP, INC. (“Elmer Bancorp” or the “Company”) (OTC Pink: ELMA), the parent company of The First National Bank of Elmer (the “Bank”), announces its operating results for the fourth quarter and full year ended December 31, 2023.

Key Points: 
  • ELMER BANCORP, INC. (“Elmer Bancorp” or the “Company”) (OTC Pink: ELMA), the parent company of The First National Bank of Elmer (the “Bank”), announces its operating results for the fourth quarter and full year ended December 31, 2023.
  • In the fourth quarter of 2023, a parcel of bank-owned, underdeveloped land was written down by $279,000 which reflects its current appraised value.
  • Stockholders’ equity totaled $32.7 million at December 31, 2023 compared to $29.3 million at December 31, 2022, an increase of $3.4 million.
  • Elmer Bancorp’s book value per common share at December 31, 2023 was $28.62 per share compared to $25.45 per share at December 31, 2022.

Eastern Bankshares, Inc. Reports Fourth Quarter 2023 Financial Results

Retrieved on: 
Thursday, January 25, 2024
Banking, Professional Services, Finance, FDIC, Total, Federal Deposit Insurance Corporation, Trust, Insurance, FTE, Non-commissioned officer, Sale, Investment, Federal Home Loan Banks, Webcast, Telephone, ID, EBC, Growth, Video game

Eastern Bankshares, Inc. (the “Company,” or together with its subsidiaries, “Eastern”) (NASDAQ Global Select Market: EBC), the stock holding company of Eastern Bank, today announced its 2023 fourth quarter financial results and the declaration of a quarterly cash dividend.

Key Points: 
  • Eastern Bankshares, Inc. (the “Company,” or together with its subsidiaries, “Eastern”) (NASDAQ Global Select Market: EBC), the stock holding company of Eastern Bank, today announced its 2023 fourth quarter financial results and the declaration of a quarterly cash dividend.
  • "2023 was a year of strategic repositioning for Eastern,” said Bob Rivers, Chief Executive Officer and Chair of the Board of Eastern Bankshares, Inc. and Eastern Bank.
  • Net interest income was $133.3 million for the fourth quarter of 2023, compared to $137.2 million in the prior quarter, representing a decrease of $3.9 million.
  • A conference call and webcast covering Eastern’s fourth quarter 2023 earnings will be held on Friday, January 26, 2024 at 9:00 a.m. Eastern Time.

East West Bancorp Reports Net Income for Full Year 2023 of $1.2 Billion and Diluted Earnings Per Share of $8.18; Increases Dividend by 15%

Retrieved on: 
Tuesday, January 23, 2024
Banking, Professional Services, Finance, NIM, FDIC, AFS, Total, Small Business Administration, Advertising, Deposit insurance, HFI, Sale, GAAP, Earnings, Investment, Small business, Federal Deposit Insurance Corporation, Asset, Growth, Bank

Fourth quarter 2023 average loans of $51.3 billion grew $1.4 billion, or 3%, from the third quarter of 2023.

Key Points: 
  • Fourth quarter 2023 average loans of $51.3 billion grew $1.4 billion, or 3%, from the third quarter of 2023.
  • Full Year Earnings - Full year 2023 net income was a record $1.2 billion or $8.18 per diluted share, both up 3% year-over-year.
  • Fourth Quarter Earnings – Fourth quarter 2023 net income was $239 million, and diluted earnings per share (“EPS”) were $1.69.
  • Fourth quarter 2023 provision for credit losses was $37 million, compared with $42 million in the third quarter of 2023.

First Trust Advisors L.P. Announces Distributions for Exchange-Traded Funds

Retrieved on: 
Monday, January 22, 2024
Professional Services, Finance, MAKE, Uncertainty, Indian Sugar Mills Association, Face, S&P Dow Jones Indices, FSMB, Government, Risk, COVID-19, ETN, S&P, AIB (NI), Recession, ETF, Zorg, MLP, Standard, Prospectus, Book, Corporation, Tax, Hamas, S&P Global, Loss, Internal Revenue Service, Average revenue per user, Financial services, Adviser, Investment, Federal, Terrorism, Federal Reserve, Real estate investment trust, Infection, Dow Jones, FTA, Federal Deposit Insurance Corporation, FMB, FCAL, ERISA, Credit, Judgement, DJIA, Fraud, FINRA, Internal Revenue Code, FTP, Security (finance)

FTA has collective assets under management or supervision of approximately $210 billion as of December 31, 2023 through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds and separate managed accounts.

Key Points: 
  • FTA has collective assets under management or supervision of approximately $210 billion as of December 31, 2023 through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds and separate managed accounts.
  • A Fund's shares will change in value, and you could lose money by investing in a Fund.
  • However, unlike mutual funds, shares may only be redeemed directly from the Fund by authorized participants, in very large creation/redemption units.
  • In addition, a Fund's investment performance and risks may be related to the investment and performance of the underlying funds.

RBB Bancorp Declares Quarterly Cash Dividend of $0.16 Per Common Share

Retrieved on: 
Thursday, January 18, 2024
Banking, Professional Services, Finance, Weather, RAM, COVID-19, SBA, DBO, Insurance, Royal Business Bank, Consumer protection, FRB, Failure, Terrorism, Climate change, Pandemic, Acquisition, Federal Deposit Insurance Corporation, FDIC, Risk, Annual report, Earthquake, Bank

RBB Bancorp (NASDAQ: RBB ) and its subsidiaries, Royal Business Bank ("the Bank") and RBB Asset Management Company ("RAM"), collectively referred to herein as "the Company", announced that its Board of Directors has declared a quarterly cash dividend of $0.16 per common share.

Key Points: 
  • RBB Bancorp (NASDAQ: RBB ) and its subsidiaries, Royal Business Bank ("the Bank") and RBB Asset Management Company ("RAM"), collectively referred to herein as "the Company", announced that its Board of Directors has declared a quarterly cash dividend of $0.16 per common share.
  • The dividend is payable on February 9, 2024 to common shareholders of record as of January 31, 2024.
  • RBB Bancorp is a bank holding company headquartered in Los Angeles, California.
  • As of September 30, 2023, the Company had total assets of $4.1 billion.

Independent Bank Corp. Reports Fourth Quarter Net Income of $54.8 Million

Retrieved on: 
Thursday, January 18, 2024
Banking, Professional Services, Finance, FDIC, Internet, Total, Credit, Federal Deposit Insurance Corporation, Insurance, Share repurchase, Rockland Trust, Sale, GAAP, East Boston Savings Bank, Federal Home Loan Banks, Acquisition, Conference, Net income, Cryptocurrency

Independent Bank Corp. (Nasdaq Global Select Market: INDB), parent of Rockland Trust Company, today announced 2023 fourth quarter net income of $54.8 million, or $1.26 per diluted share, a decrease of $6.0 million, or 9.9%, compared to the prior quarter.

Key Points: 
  • Independent Bank Corp. (Nasdaq Global Select Market: INDB), parent of Rockland Trust Company, today announced 2023 fourth quarter net income of $54.8 million, or $1.26 per diluted share, a decrease of $6.0 million, or 9.9%, compared to the prior quarter.
  • Please refer to "Reconciliation of Net Income (GAAP) to Operating Net Income (Non-GAAP)" below for a reconciliation of net income to operating net income.
  • Noninterest income of $32.1 million for the fourth quarter of 2023 represented a decrease of $1.5 million, or 4.4%, as compared to the prior quarter.
  • Noninterest expense of $100.7 million for the fourth quarter of 2023 represented an increase of $3.0 million, or 3.0%, as compared to the prior quarter.

HORIZONS ETFs LAUNCHES USD HIGH INTEREST SAVINGS ETF

Retrieved on: 
Thursday, January 18, 2024
ETF, Federal Deposit Insurance Corporation, CASH, Travel, TSX, Horizon, AUM, Management, Canada Deposit Insurance Corporation, Financial adviser

UCSH.U is the most recent addition to Horizons ETFs' suite of cash alternative and money market ETF vehicles, which includes the Horizons High Interest Savings ETF ("CASH"), one of Canada's largest and most popular Canadian dollar cash alternative ETFs, with more than $4 billion in assets under management ("AUM").

Key Points: 
  • UCSH.U is the most recent addition to Horizons ETFs' suite of cash alternative and money market ETF vehicles, which includes the Horizons High Interest Savings ETF ("CASH"), one of Canada's largest and most popular Canadian dollar cash alternative ETFs, with more than $4 billion in assets under management ("AUM").
  • Combined with the Manager's other cash alternative and money market ETFs, the total AUM is more than $8 billion, making it one of the largest suites of its kind in Canada.
  • "Horizons ETFs has positioned itself as a leader in bringing innovative cash management solutions to market, including the launch of the first ETFs in Canada to provide exposure exclusively to short-term Canadian and U.S. treasury bills, back in 2023," said Mr. Mehta.
  • The ETF has closed its initial offering of units and will begin trading today on the TSX when the market opens this morning.

Mercantile Bank Corporation Announces Strong Fourth Quarter and Full-Year 2023 Results

Retrieved on: 
Tuesday, January 16, 2024
Mercantile Bank, Sound, Total, Growth, Local, Trade, Delinquent, Commercial, Treasury, Risk, Environment, Sale, Investment, Federal Deposit Insurance Corporation, Marketing, FOMC, Federal Open Market Committee, Bank

Noninterest income totaled $8.3 million during the fourth quarter of 2023, up $0.5 million, or 6.3 percent, from $7.8 million during the fourth quarter of 2022.

Key Points: 
  • Noninterest income totaled $8.3 million during the fourth quarter of 2023, up $0.5 million, or 6.3 percent, from $7.8 million during the fourth quarter of 2022.
  • The net interest margin was 3.92 percent in the fourth quarter of 2023, down from 4.30 percent in the prior-year fourth quarter.
  • Noninterest income totaled $8.3 million during the fourth quarter of 2023, compared to $7.8 million during the fourth quarter of 2022.
  • Noninterest expense totaled $29.9 million during the fourth quarter of 2023, compared to $28.5 million during the prior-year fourth quarter.

Customers Bancorp, Inc. to host Fourth Quarter and Full-Year 2023 Earnings Webcast on Friday, January 26, 2024

Retrieved on: 
Friday, January 12, 2024
Banking, Professional Services, Finance, Customers Bancorp, Federal Reserve, C&I, American Banker, Webcast, Federal Deposit Insurance Corporation, Cryptocurrency

Customers Bancorp, Inc. (NYSE: CUBI), the parent company of Customers Bank (collectively, “Customers”), will host a webcast at 9:00 AM EST on Friday, January 26, 2024, to report its earnings results for the three months ending December 31, 2023 and full-year 2023.

Key Points: 
  • Customers Bancorp, Inc. (NYSE: CUBI), the parent company of Customers Bank (collectively, “Customers”), will host a webcast at 9:00 AM EST on Friday, January 26, 2024, to report its earnings results for the three months ending December 31, 2023 and full-year 2023.
  • The webcast will be conducted by Customers Bancorp Chair & CEO Jay Sidhu, Customers Bancorp President and Customers Bank President & CEO Sam Sidhu, Customers Bancorp Chief Financial Officer Carla Leibold, and Customers Bank Chief Financial Officer Philip Watkins.
  • The live audio webcast, presentation slides and earnings press release will be made available at the Customers Bank Investors webpage .
  • The fourth quarter and 2023 year-end earnings press release will be issued after the market closes on Thursday, January 25, 2024.

First Trust Advisors L.P. Announces Distribution for First Trust Income Opportunities ETF

Retrieved on: 
Wednesday, January 10, 2024
Banking, Fintech, Professional Services, ERISA, Inventory, Risk, Uncertainty, Indian Sugar Mills Association, Investment, Reputational damage, Failure, Judgement, Federal, NAV, Terrorism, Federal Reserve, Prospectus, Government, Fund, ETF, Environment, Tax, FINRA, Infection, Hamas, Index, COVID-19, Rule, Loss, Bankruptcy, FTA, MLP, Internal Revenue Code, Federal Deposit Insurance Corporation, Internal Revenue Service, FTP, Average revenue per user, Recession, Security (finance), AIB (NI)

FTA and its affiliate First Trust Portfolios L.P. ("FTP"), a FINRA registered broker-dealer, are privately-held companies that provide a variety of investment services.

Key Points: 
  • FTA and its affiliate First Trust Portfolios L.P. ("FTP"), a FINRA registered broker-dealer, are privately-held companies that provide a variety of investment services.
  • An investment in a Fund involves risks similar to those of investing in any portfolio of equity securities traded on exchanges.
  • The risks of investing in each Fund are spelled out in its prospectus, shareholder report, and other regulatory filings.
  • However, unlike mutual funds, shares may only be redeemed directly from a fund by authorized participants in very large creation/redemption units.