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Century Next Financial Corporation Reports Results for 2nd Quarter 2023

Retrieved on:

Friday, July 28, 2023

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Century Next Financial Corporation (the “Company”) (OTCQX: CTUY), the holding company of Century Next Bank, with $699.5 million in assets, today announced financial results for the 2nd quarter ended June 30, 2023.

Key Points:

Century Next Financial Corporation (the “Company”) (OTCQX: CTUY), the holding company of Century Next Bank, with $699.5 million in assets, today announced financial results for the 2nd quarter ended June 30, 2023.
Net income and earnings per share improved for the quarter- and year-to-date periods ending June 30, 2023 compared to the same periods ending June 30, 2022.
Noninterest-bearing checking increased $96.4 million and interest-bearing checking accounts increased $1.9 million for the six months ended June 30, 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.

First Bank and Malvern Bancorp, Inc. Announce Receipt of Regulatory Approvals for Strategic Combination

Retrieved on:

Thursday, July 6, 2023

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HAMILTON, N.J. and PAOLI, Pa., July 06, 2023 (GLOBE NEWSWIRE) -- First Bank (Nasdaq Global Market: FRBA) and Malvern Bancorp, Inc. (Nasdaq Global Market: MLVF), the parent company of Malvern Bank, National Association (“Malvern Bank”), today announced receipt of regulatory approvals from the Federal Deposit Insurance Corporation, the New Jersey Department of Banking and Insurance and the Pennsylvania Department of Banking and Securities, as well as non-objection from the Board of Governors of the Federal Reserve System, to complete the previously announced acquisition under which First Bank will acquire Malvern Bancorp, Inc. and its wholly-owned subsidiary, Malvern Bank, for a combination of cash and stock (the “Merger”).

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HAMILTON, N.J. and PAOLI, Pa., July 06, 2023 (GLOBE NEWSWIRE) -- First Bank (Nasdaq Global Market: FRBA) and Malvern Bancorp, Inc. (Nasdaq Global Market: MLVF), the parent company of Malvern Bank, National Association (“Malvern Bank”), today announced receipt of regulatory approvals from the Federal Deposit Insurance Corporation, the New Jersey Department of Banking and Insurance and the Pennsylvania Department of Banking and Securities, as well as non-objection from the Board of Governors of the Federal Reserve System, to complete the previously announced acquisition under which First Bank will acquire Malvern Bancorp, Inc. and its wholly-owned subsidiary, Malvern Bank, for a combination of cash and stock (the “Merger”).
The Merger is anticipated to close by mid-July 2023, pending satisfaction of customary closing conditions.

First Bank and Malvern Bancorp, Inc. Announce Receipt of Regulatory Approvals for Strategic Combination

Retrieved on:

Thursday, July 6, 2023

HAMILTON, N.J. and PAOLI, Pa., July 06, 2023 (GLOBE NEWSWIRE) -- First Bank (Nasdaq Global Market: FRBA) and Malvern Bancorp, Inc. (Nasdaq Global Market: MLVF), the parent company of Malvern Bank, National Association (“Malvern Bank”), today announced receipt of regulatory approvals from the Federal Deposit Insurance Corporation, the New Jersey Department of Banking and Insurance and the Pennsylvania Department of Banking and Securities, as well as non-objection from the Board of Governors of the Federal Reserve System, to complete the previously announced acquisition under which First Bank will acquire Malvern Bancorp, Inc. and its wholly-owned subsidiary, Malvern Bank, for a combination of cash and stock (the “Merger”).

Key Points:

HAMILTON, N.J. and PAOLI, Pa., July 06, 2023 (GLOBE NEWSWIRE) -- First Bank (Nasdaq Global Market: FRBA) and Malvern Bancorp, Inc. (Nasdaq Global Market: MLVF), the parent company of Malvern Bank, National Association (“Malvern Bank”), today announced receipt of regulatory approvals from the Federal Deposit Insurance Corporation, the New Jersey Department of Banking and Insurance and the Pennsylvania Department of Banking and Securities, as well as non-objection from the Board of Governors of the Federal Reserve System, to complete the previously announced acquisition under which First Bank will acquire Malvern Bancorp, Inc. and its wholly-owned subsidiary, Malvern Bank, for a combination of cash and stock (the “Merger”).
The Merger is anticipated to close by mid-July 2023, pending satisfaction of customary closing conditions.

Citizens Financial Group, Inc. Announces Preliminary Stress Capital Buffer

Retrieved on:

Friday, June 30, 2023

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Citizens Financial Group, Inc. (NYSE: CFG or the “Company”) today announces the Board of Governors of the Federal Reserve System (the “Federal Reserve”) has communicated to the Company its preliminary Stress Capital Buffer (“SCB”) of 4.0%, effective October 1, 2023, following the release of the Federal Reserve’s DFAST stress test results on June 28, 2023.

Key Points:

Citizens Financial Group, Inc. (NYSE: CFG or the “Company”) today announces the Board of Governors of the Federal Reserve System (the “Federal Reserve”) has communicated to the Company its preliminary Stress Capital Buffer (“SCB”) of 4.0%, effective October 1, 2023, following the release of the Federal Reserve’s DFAST stress test results on June 28, 2023.
The Company’s regulatory minimum CET1 ratio implied by the preliminary SCB is now 8.5%, up from 7.9%.
Citizens expects the second quarter 2023 CET1 ratio to be approximately 175 basis points above the implied regulatory minimum, reaffirming the capital strength of the Company.
This strong capital position permits continued support of customer needs and organic growth initiatives as well as strong ongoing return of capital to shareholders.

Customers Bancorp Acquires $631 Million Loan Portfolio From FDIC at Significant Discount and Recruits Venture Banking Team

Retrieved on:

Friday, June 16, 2023

The addition of these team members creates venture banking client coverage in Austin, the Bay Area, Boston, Southern California, Chicago, Denver, Raleigh/Durham, and Washington, D.C.

Key Points:

The addition of these team members creates venture banking client coverage in Austin, the Bay Area, Boston, Southern California, Chicago, Denver, Raleigh/Durham, and Washington, D.C.
“We are excited to welcome our new clients and team members to Customers Bank, a forward-thinking bank with strong risk management,” said Customers Bancorp Chairman and CEO, Jay Sidhu.
They will enhance our relationship-based banking model focused on serving all banking needs of our clients,” stated Jay Sidhu.
The technology and life sciences portfolio will be combined with Customers’ existing Technology and Venture Capital Banking vertical based in Boston.

Community West Bancshares Named to American Banker Magazine Top 200 Publicly Traded Community Banks

Retrieved on:

Wednesday, June 14, 2023

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GOLETA, Calif., June 14, 2023 (GLOBE NEWSWIRE) -- Community West Bancshares (“Community West” or the “Company”), (NASDAQ: CWBC), parent company of Community West Bank (the “Bank”), announced its inclusion in American Banker magazine’s annual list of Top 200 Publicly Traded Community Banks and Thrifts under $2.0 billion in asset size.

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GOLETA, Calif., June 14, 2023 (GLOBE NEWSWIRE) -- Community West Bancshares (“Community West” or the “Company”), (NASDAQ: CWBC), parent company of Community West Bank (the “Bank”), announced its inclusion in American Banker magazine’s annual list of Top 200 Publicly Traded Community Banks and Thrifts under $2.0 billion in asset size.
In its June 12, 2023 article, American Banker ranked Community West Bancshares 124th on its Top 200 Publicly Traded Community Banks and Thrifts list based on three-year average return on equity (“ROE”) as of 12/31/2022 (Source: Capital Performance Group).
“American Banker is a highly respected industry publication and it is an honor to be favorably recognized on this prestigious list of community banks,” said Marty Plourd, Chief Executive Officer.
The Company is the holding company for Community West Bank, the largest publicly traded community bank serving California’s Central Coast area of Ventura, Santa Barbara and San Luis Obispo counties.

Gray Capital Releases First CRE Loan Maturity Report

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Tuesday, June 6, 2023

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INDIANAPOLIS, June 6, 2023 /PRNewswire/ -- Gray Capital, a family-owned and operated private equity real estate firm specializing in the strategic investment and acquisition of multifamily apartments in growing markets throughout the Midwest, today announces the release of its first report on Loan Maturities and Distress in the Multifamily Investment Market. These reports will be updated and published quarterly with new insights and analysis by Gray Capital.

Key Points:

These reports will be updated and published quarterly with new insights and analysis by Gray Capital.
Gray Capital report predicts a wave of anticipated commercial real estate debt maturities in October 2023.
"Gray Capital is the right team, right firm, and in the right markets to have an edge in today's challenging environment," said Spencer Gray, CEO of Gray Capital.
To learn more about Gray Capital, visit www.graycapitalllc.com or follow Gray Capital on Instagram .

Mutual Holding Company for TFS Financial Corporation to Seek Member Approval for Dividend Waivers

Retrieved on:

Thursday, June 1, 2023

TFS Financial Corporation (Nasdaq: TFSL), (the “Company”), the holding company for Third Federal Savings and Loan Association of Cleveland, announced that Third Federal Savings and Loan Association of Cleveland, MHC, (the “MHC”), the mutual holding company that owns 81.0% of the Company’s outstanding common stock, will hold a special meeting of its members.

Key Points:

TFS Financial Corporation (Nasdaq: TFSL), (the “Company”), the holding company for Third Federal Savings and Loan Association of Cleveland, announced that Third Federal Savings and Loan Association of Cleveland, MHC, (the “MHC”), the mutual holding company that owns 81.0% of the Company’s outstanding common stock, will hold a special meeting of its members.
All dividends on the Company’s common stock are declared at the discretion of the Company’s Board of Directors.
A failure to obtain the waiver will likely result in a reduction in the dividend expected to be paid to public stockholders.
The Company undertakes no responsibility to publicly update or revise any forward-looking statement.

Gouverneur Bancorp, Inc. Announces Adoption of Plan of Conversion and Reorganization

Retrieved on:

Monday, May 22, 2023

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GOUVERNEUR, N.Y., May 22, 2023 (GLOBE NEWSWIRE) -- Gouverneur Bancorp, Inc. (the “Company”) (OTC Pink: GOVB), a majority owned subsidiary of Cambray Mutual Holding Company (the “MHC”) and the parent company for Gouverneur Savings and Loan Association (the “Bank”), announced today that its Board of Directors, together with the Board of Directors of the MHC and the Bank, have unanimously adopted a Plan of Conversion and Reorganization (the “Plan of Conversion”).

Key Points:

GOUVERNEUR, N.Y., May 22, 2023 (GLOBE NEWSWIRE) -- Gouverneur Bancorp, Inc. (the “Company”) (OTC Pink: GOVB), a majority owned subsidiary of Cambray Mutual Holding Company (the “MHC”) and the parent company for Gouverneur Savings and Loan Association (the “Bank”), announced today that its Board of Directors, together with the Board of Directors of the MHC and the Bank, have unanimously adopted a Plan of Conversion and Reorganization (the “Plan of Conversion”).
Pursuant to the Plan of Conversion, the MHC will sell its majority ownership in the Company to the public and the Bank, which is currently in the mutual holding company structure, will reorganize to a fully public stock holding company in a transaction commonly referred to as a “second step” conversion.
As part of the second step conversion, the Bank will become a wholly owned subsidiary of a new holding company to be formed in connection with the transaction.
Kilpatrick Townsend & Stockton LLP is serving as legal counsel to the MHC, the Company and the Bank.

Century Next Financial Corporation Reports Results for 1st Quarter 2023

Retrieved on:

Wednesday, April 26, 2023

RUSTON, La., April 26, 2023 (GLOBE NEWSWIRE) -- Century Next Financial Corporation (the “Company”) (OTCQX: CTUY), the holding company of Century Next Bank, with $696 million in assets, today announced financial results for the 1st quarter ended March 31, 2023.

Key Points:

RUSTON, La., April 26, 2023 (GLOBE NEWSWIRE) -- Century Next Financial Corporation (the “Company”) (OTCQX: CTUY), the holding company of Century Next Bank, with $696 million in assets, today announced financial results for the 1st quarter ended March 31, 2023.
Total net loans at March 31, 2023 were $563.4 million compared to $537.9 million at December 31, 2022.
Deposit growth was strong for the quarter ended March 31, 2023 as total deposits increased by $50.9 million or 9.1% to $611.3 million at March 31, 2023 compared to $560.4 million at December 31, 2022.
Century Next Financial Corporation is the holding company for Century Next Bank (the “Bank”) which conducts business from its main office in Ruston, Louisiana.