American Banker

Forbright Bank 2023 Year in Review

Retrieved on: 
Wednesday, February 7, 2024
Professional Services, Environmental, Social and Governance (ESG), Other Professional Services, Environment, Sustainability, Finance, Banking, Partnership, American Banker, The Washington Post, Corporate finance, HUD, Real estate, Business Insider, FDIC, Commercial property, Housing, Progress, Food, Investment, Certification, FHA, Health care, Workplace, Climate Week NYC, Bank

Awards and National Recognition: Forbright Bank earned national recognition for its commitment to sustainability and unique workplace.

Key Points: 
  • Awards and National Recognition: Forbright Bank earned national recognition for its commitment to sustainability and unique workplace.
  • American Banker and the Washington Post independently named Forbright Bank as a top place to work.
  • Additionally, Forbright Bank was the first bank to receive BestCashCow’s Sustainable Bank Badge due to its commitment to financing clean energy and sustainable projects.
  • Forbright Bank is proud to have sponsored the Sustainable Investment Forum during Climate Week in New York City where Forbright leaders spoke

Red River Bancshares, Inc. Reports Fourth Quarter and Year-End 2023 Financial Results

Retrieved on: 
Tuesday, January 30, 2024
EPS, American Banker, Small business, Growth, Veterans Memorial Boulevard, HFI, FHLB, Community, FOMC, FTE, Environment, AFS, SBIC, HTM, CRA, Small Business Administration, Federal Reserve, Share repurchase, Federal, Total, Sale, Bank, Federal Open Market Committee, Federal Home Loan Banks, Pleasure, CFA, Movement

ALEXANDRIA, La., Jan. 30, 2024 (GLOBE NEWSWIRE) -- Red River Bancshares, Inc. (the “Company”) (Nasdaq: RRBI), the holding company for Red River Bank (the “Bank”), announced today its financial results for the fourth quarter and year ended 2023.

Key Points: 
  • ALEXANDRIA, La., Jan. 30, 2024 (GLOBE NEWSWIRE) -- Red River Bancshares, Inc. (the “Company”) (Nasdaq: RRBI), the holding company for Red River Bank (the “Bank”), announced today its financial results for the fourth quarter and year ended 2023.
  • Net income for the fourth quarter of 2023 was $8.3 million, which was $271,000, or 3.4%, higher than the prior quarter.
  • Net interest income for the fourth quarter of 2023 was $21.3 million compared to $20.7 million for the prior quarter.
  • Provision expense was $250,000 for the fourth quarter of 2023 compared to $185,000 for the third quarter of 2023.

Lendbuzz Welcomes Diane Offereins to Board of Directors

Retrieved on: 
Tuesday, January 30, 2024
Technology, Finance, Automotive, General Automotive, Fintech, Banking, Professional Services, Software, Artificial Intelligence, Bank of America, American Banker, Growth, Financial services, Brighthouse Financial, Payment, Compensated emancipation, MBNA, Executive, Compensation, Discover Financial, Risk, Bank, Robinsons Bank, Woman, Management

Lendbuzz , an AI-based financial technology company that helps consumers obtain fair access to credit when purchasing a vehicle, today announced that it has added Diane Offereins to its board of directors.

Key Points: 
  • Lendbuzz , an AI-based financial technology company that helps consumers obtain fair access to credit when purchasing a vehicle, today announced that it has added Diane Offereins to its board of directors.
  • Prior to Discover, Ms. Offereins held leadership positions at MBNA, Bank of America, and SouthEast Bank.
  • “As Lendbuzz continues to see significant growth, we are excited to welcome Diane, and we look forward to her input and guidance as we scale our business.”
    Ms. Offereins is on the Board of Directors of Flywire (NASDAQ: FLYW), where she serves on the Compensation Committee.
  • “I can’t imagine a better time to join the board at Lendbuzz,” said Diane Offereins.

Peoples Ltd. Announces Fourth Quarter and Annual 2023 Financial Results

Retrieved on: 
Thursday, February 1, 2024
Multimedia, American Banker, OTC, PS, PSBank, Community, Bank

WYALUSING, Pa., Feb. 1, 2024 /PRNewswire/ -- Peoples Ltd. (OTC: PPLL ), holding company for PS Bank, has announced unaudited financial results for the fourth quarter 2023 and annual 2023 financial results for the year ending December 31, 2023.

Key Points: 
  • WYALUSING, Pa., Feb. 1, 2024 /PRNewswire/ -- Peoples Ltd. (OTC: PPLL ), holding company for PS Bank, has announced unaudited financial results for the fourth quarter 2023 and annual 2023 financial results for the year ending December 31, 2023.
  • For the quarter ended December 31, 2023, net income totaled $1,760,000 which compares to $1,879,000 for the fourth quarter 2022.
  • Earnings per share of $2.15 compares to fourth quarter 2022 of $2.30 per share.
  • As a result of deposit pricing pressures, net income for the fourth quarter of 2023 experienced a 6.3% decrease over prior year fourth quarter.

51% of Bankers Expect FedNow Payments to be Profitable within Three Years

Retrieved on: 
Tuesday, January 30, 2024
Federal Reserve, FedNow, Accounting, American Banker, API, B2B, RFP, SVP, Growth

CHARLOTTE, N.C., Jan. 30, 2024 /PRNewswire-PRWeb/ -- Finzly, the pioneering provider of modern payment infrastructure for financial institutions, today published a report that includes polling results of bank executives' expectations for profitability from offering instant payments using FedNow. The poll found that 51% of bankers believe that FedNow payments will become a profit center for their institutions within the next three years, and 50% think the biggest profit opportunity will come from fees enabling businesses to send and receive instant payments.

Key Points: 
  • The report covers how banks can seize the growth potential of B2B instant payments and delves into top use cases.
  • The panel concluded that banks not enabling instant payment send features are missing a crucial component of the profit potential.
  • Instead, they should prepare for increased profit opportunities stemming from the growing transaction volumes associated with B2B instant payments.
  • 25% are concerned that they presently don't have the technology and operations in place to be successful with instant payments.

Stock Yards Bancorp Reports Fourth Quarter Earnings of $23.9 Million or $0.82 Per Diluted Share and Record Earnings for the Year

Retrieved on: 
Wednesday, January 24, 2024
Record, WM, American Banker, CECL, Total, Commercial property, C&I, Bank, Treasury, Condition, FHLB, Raymond James Financial, Construction, Commercial, Stockyard, Growth, Environment, Sale, Investment, Federal Home Loan Banks, Pressure, Depreciation, Letter, Projection, Federal Reserve Bank, AUM, PPP, Unemployment, Visa

Key factors contributing to the fourth quarter of 2023 results included:

Key Points: 
  • Key factors contributing to the fourth quarter of 2023 results included:
    Loan growth and loan production represented the best fourth quarter in the Company’s history.
  • Deposit balances expanded $268 million, or 4%, on the linked quarter, as interest bearing deposits grew $434 million and non-interest bearing deposits contracted by $166 million.
  • Net interest income declined $3.2 million, or 5%, for the fourth quarter of 2023 compared to the fourth quarter a year ago, with net interest margin compressing 39 bps to 3.25%.
  • WM&T income ended the fourth quarter of 2023 at $10.1 million, increasing $878,000, or 10%, over the fourth quarter of 2022.

Customers Bancorp, Inc. Declares Quarterly Cash Dividend on Its Series E and Series F Preferred Stock

Retrieved on: 
Monday, January 29, 2024
Banking, Professional Services, Finance, Customers Bancorp, Federal Reserve, C&I, American Banker, Series, Interest rate, CME, Federal Deposit Insurance Corporation

Customers Bancorp, Inc. (NYSE:CUBI) announced that the Board of Directors has declared a quarterly cash dividend on its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series E (NYSE: CUBIPrE) of $0.68163044 per share.

Key Points: 
  • Customers Bancorp, Inc. (NYSE:CUBI) announced that the Board of Directors has declared a quarterly cash dividend on its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series E (NYSE: CUBIPrE) of $0.68163044 per share.
  • The dividend is payable on March 15, 2024, to shareholders of record on February 29, 2024.
  • The Board of Directors has also declared a quarterly cash dividend on its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series F (NYSE: CUBIPrF) of $0.65774294 per share.
  • The company is reminding shareholders that, in accordance with Federal Reserve Board rules implementing the Adjustable Interest Rate (the “LIBOR Act”), after June 30, 2023, Customers Bancorp Inc. is no longer using the three-month LIBOR as a reference rate for determining the dividend rate of the Company’s Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series E, par value $1.00 per share (“Series E Preferred Stock”), and Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series F, par value $1.00 per share (“Series F Preferred Stock”).

VizyPay Highlights Record-Breaking Growth with 2023 End-Of-Year Report

Retrieved on: 
Tuesday, January 9, 2024
Customer service, American Banker, Fintech, The Des Moines Register, Consultant, Team, Human, Growth, Trustpilot, Culture, Partnership, Finance, Stevie Awards, Cultural center, Publication, SMB

WAUKEE, Iowa, Jan. 09, 2024 (GLOBE NEWSWIRE) -- VizyPay , the leading payment processing fintech serving small businesses in rural America, today announces its 2023 end-of-year report, showcasing successful and consistent demand for services.

Key Points: 
  • WAUKEE, Iowa, Jan. 09, 2024 (GLOBE NEWSWIRE) -- VizyPay , the leading payment processing fintech serving small businesses in rural America, today announces its 2023 end-of-year report, showcasing successful and consistent demand for services.
  • Partnerships - To best serve its merchants, VizyPay welcomed over 20 new partnerships in 2023, including banks, credit unions, CPAs, ISVs, SMB consultants, bookkeepers, restaurant advisors and digital marketing.
  • Growing Revenue – VizyPay increased its revenue by 18% in 2023 to $21.5 million and is projected to bring in $26.5 million in 2024.
  • Total Payments Processed – In 2023 VizyPay processed 33.5 million payments equating to $1.8 billion.

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.

Pinnacle Financial Partners Announces Dates for Fourth Quarter 2023 Earnings Release and Conference Call

Retrieved on: 
Tuesday, January 2, 2024
Personal Finance, Finance, Banking, Professional Services, Insurance, Trust, FDIC, American Banker, BHG, Pinnacle Financial Partners, BHG Financial, Work, CST, Workplace, Webcast, PNFP, Cryptocurrency

Pinnacle Financial Partners, Inc. (Nasdaq/NGS: PNFP) today announced it will release its fourth quarter 2023 financial results on Tuesday, Jan. 16, 2024, after market close.

Key Points: 
  • Pinnacle Financial Partners, Inc. (Nasdaq/NGS: PNFP) today announced it will release its fourth quarter 2023 financial results on Tuesday, Jan. 16, 2024, after market close.
  • The fourth quarter 2023 earnings release will be available on the investor relations page of Pinnacle's website at www.pnfp.com .
  • Pinnacle Financial Partners provides a full range of banking, investment, trust, mortgage and insurance products and services designed for businesses and their owners and individuals interested in a comprehensive relationship with their financial institution.
  • Pinnacle owns a 49 percent interest in BHG Financial, which provides innovative, hassle-free financial solutions to healthcare practitioners and other professionals.