FTE

First Commonwealth Announces Fourth Quarter and Full Year 2023 Earnings; Declares Quarterly Dividend

Retrieved on: 
Tuesday, January 30, 2024
First Commonwealth Bank, Growth, SBA, Small Business Administration, ACL, Polish–Lithuanian Commonwealth, Common equity, FTE, Environment, AFS, Commercial, Total, ID, Acquisition, Sale, Bank statement, Advertising, Core, Share repurchase, Video game

Total average deposits increased $37.3 million, or 1.6% annualized in the fourth quarter of 2023 as compared to the previous quarter.

Key Points: 
  • Total average deposits increased $37.3 million, or 1.6% annualized in the fourth quarter of 2023 as compared to the previous quarter.
  • Provision for credit losses totaled ($1.9) million in the fourth quarter of 2023 as compared to $5.9 million in the previous quarter.
  • Noninterest expense (excluding merger related expenses) totaled $65.0 million for the fourth quarter of 2023, as compared to $67.0 million for the third quarter of 2023 and $57.1 million for the fourth quarter of 2022.
  • The core efficiency ratio was 53.00% during the fourth quarter of 2023 as compared to 53.42% in the previous quarter and 50.00% in the fourth quarter of 2022.

FNCB Bancorp, Inc. Announces Fourth Quarter and Year to Date 2023 Earnings

Retrieved on: 
Tuesday, January 30, 2024
FOMC, Annual report, Converse (logic), Total, ALCO, Bank, Letter, Organization, ACL, ASU, Acquisition, Insurance, Champissage, Risk management, FHLB, FTE, Federal Reserve Bank, People's Bank, Sale, Merchant, Cryptocurrency

FNCB declared and paid dividends to shareholders of common stock of $0.09 per share for the fourth quarters of 2023 and 2022.

Key Points: 
  • FNCB declared and paid dividends to shareholders of common stock of $0.09 per share for the fourth quarters of 2023 and 2022.
  • The tax-equivalent net interest margin increased 2 basis points to 2.87% for the fourth quarter of 2023 from 2.85% for the third quarter of 2023.
  • The fourth quarter increase followed a 10-basis point improvement from 2.75% for the second quarter of 2023.
  • Non-interest income for the fourth quarter of 2023 totaled $2.3 million, a decrease of $61 thousand, or 2.5%, from $2.4 million for the fourth quarter of 2022.

Hawthorn Bancshares Reports Results for the Fourth Quarter and the Year Ended December 31, 2023

Retrieved on: 
Tuesday, January 30, 2024
EPS, Financial instrument, FTE, Quarter, ASU, Investment, Acquisition, Sale, Letter, Video game

Net loss of $7.4 million for the fourth quarter 2023 decreased $10.0 million, or 388.6%, from the linked quarter, and decreased $12.2 million, or 257.5%, from the prior year quarter.

Key Points: 
  • Net loss of $7.4 million for the fourth quarter 2023 decreased $10.0 million, or 388.6%, from the linked quarter, and decreased $12.2 million, or 257.5%, from the prior year quarter.
  • Loss per diluted share was $(1.05) for the fourth quarter 2023 compared to EPS of $0.36 for the linked quarter, and $0.67 for the prior year quarter.
  • Net interest income of $15.8 million for the fourth quarter of 2023, increased $0.7 million from the linked quarter, and increased $0.9 million from the prior year quarter.
  • The fourth quarter efficiency ratio was 81.1% compared to 79.8% and 69.4% for the linked quarter and prior year quarter, respectively.

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.

CB Financial Services, Inc. Announces Fourth Quarter and Full Year 2023 Financial Results and Declares Quarterly Cash Dividend

Retrieved on: 
Wednesday, January 31, 2024
Banking, Professional Services, Finance, EPS, Growth, GAAP, Pressure, ACL, CECL, FHLB, FDIC, Intangibles, Interest, FTE, Environment, BP, ASU, Use, Investment, NIM, Federal Reserve, Sale, Bank, Comparison, Insurance, Instrument, Share repurchase, Cryptocurrency

(Comparisons to three months ended December 31, 2022 unless otherwise noted)

Key Points: 
  • (Comparisons to three months ended December 31, 2022 unless otherwise noted)
    Net income was $13.0 million, compared to $4.2 million.
  • Book value per share was $27.31, compared to $22.43 as of September 30, 2023 and $21.60 as of December 31, 2022.
  • Tangible book value per share (Non-GAAP) was $25.23, compared to $20.10 as of September 30, 2023 and $19.00 as of December 31, 2022.
  • Stockholders’ equity increased $29.7 million, or 27.0%, to $139.8 million at December 31, 2023, compared to $110.2 million at December 31, 2022.

Southside Bancshares, Inc. Announces Financial Results for the Fourth Quarter and Year Ended December 31, 2023

Retrieved on: 
Friday, January 26, 2024
FDIC, ETR, CECL, AFS, Advertising, ASU, Insurance, FHLB, FTE, Federal, Event, Software, Sale, GAAP, Investment, Travel, Loss, Disclosure, Three Months, Webcast, SBSI, File

TYLER, Texas, Jan. 26, 2024 (GLOBE NEWSWIRE) -- Southside Bancshares, Inc. (“Southside” or the “Company”) (NASDAQ: SBSI) today reported its financial results for the quarter and year ended December 31, 2023.

Key Points: 
  • TYLER, Texas, Jan. 26, 2024 (GLOBE NEWSWIRE) -- Southside Bancshares, Inc. (“Southside” or the “Company”) (NASDAQ: SBSI) today reported its financial results for the quarter and year ended December 31, 2023.
  • Linked quarter, net interest income increased $1.2 million, or 2.3%, compared to $53.3 million during the three months ended September 30, 2023.
  • Linked quarter, net interest margin and tax-equivalent net interest margin(1) decreased from 2.85% and 3.02%, respectively for the three months ended September 30, 2023.
  • On a linked quarter basis, noninterest income decreased $8.3 million, or 76.9%, compared to the three months ended September 30, 2023.

ACNB Corporation Reports Fourth Quarter and 2023 Financial Results

Retrieved on: 
Thursday, January 25, 2024
Insurance, FDIC, ACNB, SBIC, Policy, Corporation, Partnership, FTE, Sale, Acquisition, Risk management, Internet, Marketing, Growth, Cryptocurrency

GETTYSBURG, Pa., Jan. 25, 2024 (GLOBE NEWSWIRE) -- ACNB Corporation (NASDAQ: ACNB) (“ACNB” or the “Corporation”), financial holding company for ACNB Bank and ACNB Insurance Services, Inc., announced net income of $4.1 million, or $0.48 per diluted earnings per share, for the three months ended December 31, 2023 compared to net income of $10.2 million, or $1.20 per diluted earnings per share, for the three months ended December 31, 2022.

Key Points: 
  • GETTYSBURG, Pa., Jan. 25, 2024 (GLOBE NEWSWIRE) -- ACNB Corporation (NASDAQ: ACNB) (“ACNB” or the “Corporation”), financial holding company for ACNB Bank and ACNB Insurance Services, Inc., announced net income of $4.1 million, or $0.48 per diluted earnings per share, for the three months ended December 31, 2023 compared to net income of $10.2 million, or $1.20 per diluted earnings per share, for the three months ended December 31, 2022.
  • The financial results for both the three and twelve month periods ended December 31, 2023 were impacted by the repositioning of the investment securities portfolio as announced on Form 8-K on December 15, 2023.
  • ACNB repurchased 13,838 shares of ACNB common stock during the three months ended December 31, 2023 at a cost of $452 thousand.
  • For the twelve months ended December 31, 2023, ACNB repurchased 61,066 shares of ACNB common stock at a cost of $2.0 million.

Fidelity D & D Bancorp, Inc. Reports 2023 Financial Results

Retrieved on: 
Wednesday, January 24, 2024
Financial instrument, FDIC, ASC, CECL, Growth, Small Business Administration, Trust, ASU, Interest, FTE, Tax, Sale, Discounting, Fidelity Bank, Depreciation, SBA, Selection, Investment, PPP, Bank

DUNMORE, Pa., Jan. 24, 2024 (GLOBE NEWSWIRE) -- Fidelity D & D Bancorp, Inc. (NASDAQ: FDBC) and its banking subsidiary, The Fidelity Deposit and Discount Bank, announced its unaudited, consolidated financial results for the three and twelve month periods ended December 31, 2023.

Key Points: 
  • DUNMORE, Pa., Jan. 24, 2024 (GLOBE NEWSWIRE) -- Fidelity D & D Bancorp, Inc. (NASDAQ: FDBC) and its banking subsidiary, The Fidelity Deposit and Discount Bank, announced its unaudited, consolidated financial results for the three and twelve month periods ended December 31, 2023.
  • Net interest income was $62.1 million for the year ended December 31, 2023 compared to $72.3 million for the year ended December 31, 2022.
  • During the first quarter of 2023, the Company adopted Accounting Standard Update 2016-13, Financial Instruments - Credit Losses (Topic 326) Measurement of Credit Losses on Financial Instruments (CECL).
  • The Company remains well capitalized with Tier 1 capital at 9.15% of total average assets as of December 31, 2023.

NBT Bancorp Inc. Announces Full Year Net Income and Declares Dividend

Retrieved on: 
Tuesday, January 23, 2024
NBT Bank, NIM, FDIC, Retirement, NBT, Policy, Share repurchase, FTE, Commercial, Sale, Acquisition, Video game

NORWICH, N.Y., Jan. 23, 2024 (GLOBE NEWSWIRE) -- NBT Bancorp Inc. (“NBT” or the “Company”) (NASDAQ: NBTB) reported net income and diluted earnings per share for the three and twelve months ended December 31, 2023.

Key Points: 
  • NORWICH, N.Y., Jan. 23, 2024 (GLOBE NEWSWIRE) -- NBT Bancorp Inc. (“NBT” or the “Company”) (NASDAQ: NBTB) reported net income and diluted earnings per share for the three and twelve months ended December 31, 2023.
  • Consistent with historical trends and as seasonally expected, ending deposits declined from September 30, 2023 to December 31, 2023.
  • Net charge-offs for the portfolios in a planned run-off status represented the majority of total net charge-offs for the quarter and full year.
  • NBT Bancorp Inc. is a financial holding company headquartered in Norwich, NY, with total assets of $13.31 billion at December 31, 2023.

First Community Bankshares, Inc. Announces Fourth Quarter 2023 Results and Quarterly Cash Dividend

Retrieved on: 
Tuesday, January 23, 2024
Table, ROA, ROE, Share repurchase, Interest, FTE, GAAP, News

The Company reported net income of $11.78 million, or $0.66 per diluted common share, for the quarter ended December 31, 2023.

Key Points: 
  • The Company reported net income of $11.78 million, or $0.66 per diluted common share, for the quarter ended December 31, 2023.
  • The Company also declared a quarterly cash dividend to common shareholders of twenty-nine cents $0.29 per common share.
  • Adjusted for non-recurring items, ROA was 1.77% and ROE was 11.63% for the fourth quarter of 2023.
  • The Company repurchased 189,500 common shares during the fourth quarter of 2023 for a total cost of $5.98 million.