Tier 1

GBank Financial Holdings Inc. Announces Fourth Quarter 2023 Financial Results

Retrieved on: 
Tuesday, January 30, 2024
PCA, Growth, BankCard Services, SBA, FDIC, Telephone, Fintech, Zoom, Internet, Federal funds, BCS, CIMS, PST, PPA, Accounting, Tier 1, Commercial, PIMS, Federal Reserve Bank, Smartphone, ZOOM, Patent, Sale, Bank, Interest, Investment, Federal Home Loan Banks

Average pretax gain on sale of loans margin decreased to 3.18% during the fourth quarter, compared to 3.36% for the prior quarter and 3.51% for the same period of 2022.

Key Points: 
  • Average pretax gain on sale of loans margin decreased to 3.18% during the fourth quarter, compared to 3.36% for the prior quarter and 3.51% for the same period of 2022.
  • For the quarter ended December 31, 2023, the Bank's Tier 1 leverage ratio was 14.06%, compared to 15.08% for the quarter ended December 31, 2022.
  • For the quarter ended December 31, 2023, net interest income increased 8% to $10.4 million, compared to $9.6 million for the prior quarter.
  • Net charge-offs during the third quarter of 2023 related to the other real estate owned properties held at September 30, 2023.

Mobileye Global Inc. investors: Please contact the Portnoy Law Firm to recover your losses; March 18, 2024 deadline

Retrieved on: 
Wednesday, January 24, 2024
Bank statement, SOC, Medicare, EyeQ, Tier 1, Original equipment manufacturer, LivePerson, Mobileye, Fine chemical

​LOS ANGELES, Jan. 23, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Mobileye Global Inc. (NASDAQ: MBLY) investors that a lawsuit was filed on behalf of investors that purchased Mobileye securities between January 26, 2023 and January 3, 2024 inclusive (the “Class Period”).

Key Points: 
  • Investors are encouraged to contact attorney Lesley F. Portnoy , by phone 844-767-8529 or email : [email protected], to discuss their legal rights, or click here to join the case via www.portnoylaw.com .
  • The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
  • Mobileye attributed this to supply chain challenges in 2021 and 2022, along with lower-than-expected production at certain OEMs in 2023.
  • The Portnoy Law Firm represents investors in pursuing claims caused by corporate wrongdoing.

TNDC Welcomes Todd den Engelsen as New CEO

Retrieved on: 
Friday, January 19, 2024
Royal Roads University, Employment, Corporate services, Partnership, Tahltan Nation, Business administration, Organization development, Construction, Tier 1, Growth, CHRP (human resources), MBA, Interim, Organization, Fellow, Admiration, Management

On behalf of the board, we extend Todd a warm welcome to the TNDC team.

Key Points: 
  • On behalf of the board, we extend Todd a warm welcome to the TNDC team.
  • We also extend our gratitude and appreciation to Bruce Gordichuk, TNDC’s President of Construction, who has led TNDC as the Interim CEO for the past three months and will continue to play an instrumental role assisting Todd moving forward,” says Carol Danielson, Chair, TNDC Board of Directors.
  • “Being Métis, the opportunity to work with an Indigenous business is very meaningful, and I am honoured to be joining TNDC.
  • I look forward to working with TNDC’s board, team, shareholders, and partners to create long-term sustainable growth for the Tahltan Nation,” says Todd den Engelsen, TNDC CEO.

White River Bancshares Co. Earns $788,000, or $0.79 Per Diluted Share, in Fourth Quarter 2023 and Earns $2.55 Million, or $2.56 Per Diluted Share for the Year; Highlighted by Double Digit Loan and Deposit Growth Year-Over-year

Retrieved on: 
Thursday, January 18, 2024
NIM, CECL, Total, 2020, Bank, FHLB, Current Expected Credit Losses, Tier 1, Signature Bank, Environment, Banco, AOCI, OTCQX, Small business, Marketing, Growth

Fourth Quarter 2023 Financial Highlights:

Key Points: 
  • Fourth Quarter 2023 Financial Highlights:
    Fourth quarter net income was $788,000, or $0.79 per diluted share, compared to $1.42 million, or $1.42 per diluted share, in the fourth quarter of 2022.
  • Fourth quarter net interest margin (“NIM”) was 3.00%, compared to 3.79% in the fourth quarter a year ago.
  • Net interest income was $7.8 million in the fourth quarter of 2023, compared to $8.8 million in the fourth quarter of 2022.
  • Total interest income increased 31.3% to $14.7 million in the fourth quarter of 2023, compared to $11.2 million in the fourth quarter of 2022.

Stellar Bancorp, Inc. Reports Fourth Quarter 2023 Results

Retrieved on: 
Friday, January 26, 2024
Banking, Professional Services, Finance, Stellar, STEL, FDIC, Bank statement, Small Business Administration, ATM, Central Time, Policy, Interest, Tier 1, Mergers and acquisitions, Environment, Sale, Acquisition, PIN, Webcast, Small business, Durbin amendment, Bank holding company

Net interest income in the fourth quarter 2023 decreased $791 thousand, or 0.7%, to $105.9 million from $106.7 million for the third quarter 2023.

Key Points: 
  • Net interest income in the fourth quarter 2023 decreased $791 thousand, or 0.7%, to $105.9 million from $106.7 million for the third quarter 2023.
  • Noninterest expense for the fourth quarter 2023 increased $7.2 million, or 10.2%, to $77.9 million compared to $70.7 million for the third quarter 2023.
  • The efficiency ratio was 69.21% for the fourth quarter 2023 compared to 63.50% for the third quarter 2023.
  • The provision for credit losses for the fourth quarter 2023 was $1.0 million compared to $2.3 million for the third quarter 2023.

Arlington Capital Partners Announces the Formation of Keel, a New Leader in Defense Manufacturing, and its Acquisitions of Merrill Technologies Group and Metal Trades, LLC

Retrieved on: 
Thursday, January 25, 2024
Contracts, Finance, Banking, Military, Professional Services, Aerospace, Manufacturing, Machinery, Asset Management, Defense, Family, Columbia, Navy, Employment, OEM, Piper, Logic, SPIC, Culture, Partnership, Tier 1, FINRA, Houlihan Lokey, Investment, DLA, Air force, Department of Defence, DLA Piper, Engineering, Army, Arlington Capital Partners, Shipbuilding

The Company was formed through the merger of existing Arlington portfolio company Pegasus Steel (“Pegasus”) with the newly completed acquisitions of Metal Trades, LLC (“Metal Trades”) and Merrill Technologies Group (“Merrill”).

Key Points: 
  • The Company was formed through the merger of existing Arlington portfolio company Pegasus Steel (“Pegasus”) with the newly completed acquisitions of Metal Trades, LLC (“Metal Trades”) and Merrill Technologies Group (“Merrill”).
  • Our efficient and effective approach positions us to increase the speed of delivery and production for the country’s highest priority defense programs.
  • Charter Capital Partners served as financial advisor and Butzel Long served as legal counsel to Merrill Technologies Group.
  • Mensura Capital, LLC and Mensura Securities, LLC (member FINRA and SPIC) served as financial advisors and Sheppard, Mullin, Richter & Hampton LLP served as legal counsel to Metal Trades.

Voltera and Zayo Partner to Bring High Bandwidth Connectivity to Zero-Emission Vehicle Fleets

Retrieved on: 
Wednesday, January 24, 2024
EV, Electric Vehicles, Networks, Internet, Fleet Management, Oil, Gas, Data Management, Sustainability, Energy, Technology, Automotive, Environment, Green Technology, Zayo Group, Multimedia, Partnership, Hydrogen, Tier 1, EQT, Power, Renewable energy

Both companies are backed by global investment organization EQT and committed to delivering sustainable solutions to support our digital future.

Key Points: 
  • Both companies are backed by global investment organization EQT and committed to delivering sustainable solutions to support our digital future.
  • By including broadband network availability in the evaluation of potential sites, Voltera and Zayo can mitigate connectivity challenges early on, reducing cost and improving time to market for zero-emissions fleets.
  • “By including broadband availability in our site evaluation process, Voltera can reduce the cost and time involved in site selection.
  • “High-capacity network infrastructure is critical to enable a timely and efficient zero-emission vehicle future,” said Brian Daniels, Chief Sales Officer - Strategic Accounts, at Zayo.

Summit Bank Group Reports 2023 Year and 4th Quarter Earnings

Retrieved on: 
Wednesday, January 24, 2024
Banking, Professional Services, Finance, OTC Markets Group, Summit Bank, AFS, Comparable, Bank, FHLB, Tier 1, Environment, Sale, Federal Home Loan Banks, Risk, Small business, Federal Reserve Bank, Growth

Summit Bank Group (OTC Pink: SBKO)

Key Points: 
  • Summit Bank Group (OTC Pink: SBKO)
    Fiscal year 2023 Net Income - $8.92 million or $1.15 per fully diluted share.
  • Summit Bank Group reported net income for the fourth quarter of $1.68 million, or $0.22 per fully diluted share.
  • Comparable earnings for the quarter ended September 30, 2023 were $2.44 million, or $0.32 per fully diluted share, representing a decrease of 31 percent, or $0.11 to earnings and earnings per fully diluted share, respectively.
  • Summit Bank reported $35.0 million in FHLB borrowings at December 31, 2023, compared to $36.5 million at September 20, 2023 and zero a year ago.

Premier Financial Corp. Announces Full Year 2023 Results

Retrieved on: 
Tuesday, January 23, 2024
Insurance, FDIC, Internet access, Credit, AFS, Total, PFC, CFO, Bank, Treasury, Paycheck Protection Program, FHLB, TE, Federal Reserve Economic Data, Element, Tier 1, Federal funds, Premier, Growth, Sale, Acquisition, PPP

Premier Financial Corp. (Nasdaq: PFC) (“Premier” or the “Company”) announced today 2023 fourth quarter and full year results.

Key Points: 
  • Premier Financial Corp. (Nasdaq: PFC) (“Premier” or the “Company”) announced today 2023 fourth quarter and full year results.
  • Total average interest-bearing deposit costs increased 29 basis points to 2.83% for the fourth quarter of 2023.
  • Insurance commissions were $8.9 million in 2023, down from $16.2 million in 2022 due to the insurance agency sale on June 30, 2023.
  • Brokered deposits were $341.9 million at December 31, 2023, compared to $392.2 million at September 30, 2023 and $143.7 million at December 31, 2022.

Leading Marketing and Promotions Agencies Merge to Form Dryvve, the Largest Women-Owned Branded Merchandise Services Company on the East Coast

Retrieved on: 
Monday, January 22, 2024
Retail, Manufacturing, Sustainability, Marketing, Consulting, Advertising, Small Business, Communications, Professional Services, Supply Chain Management, Women, Online Retail, Environment, Consumer, Packaging, Culture, Tier 2, Partnership, Heart, Education, Creativity, Tier 1, ROI

Consolidated Marketing Services and Progressive Promotions, two of the East Coast’s most award-winning branded merchandise agencies, are proud to announce their official merger into a new entity called Dryvve .

Key Points: 
  • Consolidated Marketing Services and Progressive Promotions, two of the East Coast’s most award-winning branded merchandise agencies, are proud to announce their official merger into a new entity called Dryvve .
  • In January of 2021, Consolidated Marketing Services acquired Progressive Promotions to expand internal infrastructure and capabilities, and, after three years of unprecedented success, the combined company is formally rebranding.
  • Dryvve is now the largest certified women-owned (WBENC) branded merchandise agency on the East Coast.
  • Dryvve will help amplify clients’ brands with a nearly limitless range of custom merchandise.