Community banking models

M&T BANK ANNOUNCES $6 MILLION IN AMPLIFY FUND GRANTS TO 44 CONNECTICUT NON-PROFITS

Retrieved on: 
Monday, October 17, 2022
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BRIDGEPORT, Conn., Oct. 17, 2022 /PRNewswire/ -- M&T Bank today announced the first of a group of Amplify Fund-Connecticut grants totaling $6 million awarded to 44 non-profit organizations across Connecticut. First announced in May 2022, the $25 million fund is aimed at providing unrestricted multi-year support to trusted organizations to enable them to improve the lives of their communities through programmatic, capacity-building or policy-based work.

Key Points: 
  • Funds Designated to Groups Addressing Underserved, Marginalized & Overlooked Communities
    BRIDGEPORT, Conn., Oct. 17, 2022 /PRNewswire/ --M&T Bank today announced the first of a group of Amplify Fund-Connecticut grants totaling $6 million awarded to 44 non-profit organizations across Connecticut.
  • The grants were awarded based on the responses to proposals submitted by the nonprofits earlier this year.
  • Amplify Fund grants provide finite, multi-year funding to community-based organizations and intermediaries with a demonstrated commitment to high-need, underserved, or marginalized communities.
  • The full list of Connecticut Amplify Fund recipients include:

BCTCares Foundation's "Pack The 'Pack" Program Raises $56,000 To Fund Local Backpack Charities

Retrieved on: 
Thursday, October 6, 2022
Trust, Forbes, Organization, Foundation, Bank, EIN, State bank, Program, Multimedia, Community banking models, Community, Jefferson County, West Virginia, Company, Pack, Organic, Financial management, American Banker, Allpoint, CEO, OTC, Food, BCT, Board of directors, Washington Street, PTBS, View, Hospital

"This year, our partner backpack charities saw food prices increase 40% to 50% along with significant increases in the number of children in need," remarked Alice P. Frazier, President and CEO of BCT.

Key Points: 
  • "This year, our partner backpack charities saw food prices increase 40% to 50% along with significant increases in the number of children in need," remarked Alice P. Frazier, President and CEO of BCT.
  • "Seeing our clients, employees, and local communities rally for the children with overwhelming generosity reminds me how resilient and strong our communities remain.
  • For the Pack The 'Pack campaign, BCTCares has partnered with local backpack program charities who will purchase and distribute food using the funds donated.
  • The local backpack program partners are:
    Berkeley County Backpack Program (Berkeley County, WV) - http://feedbcwvkids.org/
    Community Combined Ministries Kidz Power Pacs (Berkeley & Jefferson Counties, WV) - https://communitycombined.org/
    Loudoun Backpack Coalition (Loudoun County, VA) - https://loudouneducationfoundation.org/backpack-coalition/
    To learn more about the BCTCares Foundation and the Pack The 'Pack program, visit BCT's website at www.mybct.bank/about/bctcares /.

FIRST BANK GIVES $50,000 FOR LEE COUNTY EDUCATION FOUNDATION PROGRAM

Retrieved on: 
Monday, October 3, 2022
Student, Workforce, Habit, Curriculum, Technology, Community banking models, FDIC, Life, Boy, Central Carolina Community College, Multimedia, Achievement Medal, Citizens First Bank, School, Education, Self-control, Foundation, Boys & Girls Club, First Bank, Partnership, Girls Club, Program, Communication, Leadership, First Bancorp, Equal housing lender, Mentorship, Nasdaq, Tutoring, Management

SOUTHERN PINES, N.C., Oct. 3, 2022 /PRNewswire/ -- First Bank has committed to giving the Lee County Education Foundation $50,000 to fund the newly announced "Durable Skills Project" in Lee County.

Key Points: 
  • SOUTHERN PINES, N.C., Oct. 3, 2022 /PRNewswire/ -- First Bank has committed to giving the Lee County Education Foundation $50,000 to fund the newly announced "Durable Skills Project" in Lee County.
  • Lee County Education Foundation Chairman, Susan Keller, said of the program, "The Foundation is committed to enhancing success for students.
  • As a state-chartered community bank, First Bank operates 108 bank branches in North Carolina and South Carolina.
  • The Lee County Education Foundation is a public/private partnership committed to empowering educators and moving futures forward.

73% of Gen Z Say Economic Environment Has Made it More Challenging to Save; 75% Seeking Ways to Earn Additional Income

Retrieved on: 
Tuesday, September 13, 2022
Adult, Income, Workforce, Probability, Gaps, Family, Gen, Woman, NYSE, Ipsos, Bank of America, Knowledge, Politics, Population, Life, Baby boomers, Investor, Environment, Bank of America Corporate Center, Investment, Bank, Africa-America Institute, Risk management, Black African Students Federation in France, Community banking models, Retirement, Research, New, Parent, Motivation, Small business, Multimedia, St. Louis Fed Financial Stress Index, Man, Generation Z, Digital, Renewable energy, Management, Marketing, Health insurance, Credit, Birth control, Nightclub, Financial adviser, Online shopping, American, Millennials, Generation X, Hispanic

CHARLOTTE, N.C., Sept. 13, 2022 /PRNewswire/ -- As Gen Z looks to establish their financial footing, the economic environment and inflation have posed new challenges in achieving their financial goals. This is according to new research published today by Bank of America's Better Money Habits exploring this generation's (ages 18 to 25) distinct approach to money – including their financial priorities, behaviors and challenges. With Gen Z being far more diverse than previous generations, the new research also examines ways in which race, ethnicity and gender may influence their financial priorities and challenges.    

Key Points: 
  • According to 73% of Gen Z, the current economic environment has made it more challenging to save.
  • Much of Gen Z has the financial basics down, though struggle with more complex topics such as investing and debt.
  • Gen Z feels equipped to handle basic financial tasks, including budgeting (71%), managing day-to-day expenses (70%) and building/managing credit (65%).
  • Just 38% of Gen Z women have enough emergency savings to last three months, compared to 48% of Gen Z men.

POTOMAC BANCSHARES, INC. REPORTS 2022 SECOND QUARTER RESULTS

Retrieved on: 
Tuesday, August 2, 2022
Sale, Knowledge, Investment, Environment, Community, CEO, Forward-looking statement, ROA, Private Securities Litigation Reform Act, Workforce, Bank, The Company, Income, Community banking models, All, BCT, ROE, Credit, Company, Board of directors, Round 1, PPP, SBA, State bank, Growth, OTC, PTBS, Financial management, Cryptocurrency, Lithium, Animal, Online gambling, Financial adviser, Video game, Real estate, Trust, Visa

Net interest margin increased to 3.33% for the second quarter 2022 compared to 3.04% for the linked prior quarter.

Key Points: 
  • Net interest margin increased to 3.33% for the second quarter 2022 compared to 3.04% for the linked prior quarter.
  • Excluding the impact from PPP in the second quarter 2022 and first quarter 2022, the net interest margin was 3.19% compared to 2.93%, respectively.
  • Non-interest income was down $181 thousand to $5.0 million for the quarter ending June 30, 2022, or 10.8% compared to the quarter ending March 31, 2022.
  • Net loan recoveries in the quarter ending June 30, 2022, were 0.033% compared to 0.002% in the quarter ending March 31, 2022.

CMG Announces Successful Launch of the Industry’s First Connected ECM Platform

Retrieved on: 
Tuesday, May 24, 2022
Finance, Banking, Professional Services, Technology, Software, Fidelity Investments, Citigroup, Community banking models, Capital market, AUM, Barclays, Bank, Initial public offering, Point72 Asset Management, Bank of America, XC, Technology, Method, Industry, Communication, ECM, CMG, Vanguard, Goldman Sachs, J. P. Morgan, Software as a service, Credit Suisse, Morgan Stanley, Security (finance)

Capital Markets Gateway LLC (CMG) , a fintech company defining the future of equity capital markets issuance, announced the launch of CMG XC, the first end-to-end ECM platform digitally connecting the buy-side and sell-side.

Key Points: 
  • Capital Markets Gateway LLC (CMG) , a fintech company defining the future of equity capital markets issuance, announced the launch of CMG XC, the first end-to-end ECM platform digitally connecting the buy-side and sell-side.
  • We are grateful for the collaboration with CMG by the seven banks that are now leveraging our platform, said CMG Co-Founder and CEO Greg Ingram.
  • If you would like to learn more about CMG or to participate in the CMG XC investor network, please contact [email protected] .
  • CMG connects investors and underwriters via a neutral platform that delivers integrated ECM data and analytics, unrivaled transparency, and workflow efficiencies.

POTOMAC BANCSHARES, INC. REPORTS 2021 FOURTH QUARTER AND FULL YEAR RESULTS

Retrieved on: 
Friday, February 4, 2022
Community banking models, Bank, Growth, CEO, Community, Allpoint, Private Securities Litigation Reform Act, Forward-looking statement, ROA, Round 1, SBA, Small Business Administration, Region, Trust, Technology, Environment, Board of directors, COVID-19, State bank, BCT, The Company, Forgiveness, Company, Financial management, Education, Knowledge, Acceleration, PTBS, ROE, BTV, American Banker, OTC, PPP, Income, Pension fund, Security (finance), Lithium, Management, Real estate, Video game, Life insurance, Cryptocurrency

ROE for the fourth quarter of 2021 was 11.26% compared to 8.29% in the fourth quarter of 2020.

Key Points: 
  • ROE for the fourth quarter of 2021 was 11.26% compared to 8.29% in the fourth quarter of 2020.
  • Net interest margin was 3.13% for the quarter ending December 31, 2021, compared to 3.07% for the quarter ending December 31, 2020.
  • A loan loss provision was not recorded in the fourth quarter of 2021 compared to $150 thousand in the fourth quarter of 2020.
  • Net interest margin for the quarter ending December 31, 2021, was 3.13% compared to 3.06% in the quarter ending September 30, 2021.

Bank of America Better Money Habits Research Finds That, Despite Barriers, 80% of Gen Z Are Taking Positive Steps Toward Achieving their Financial Goals

Retrieved on: 
Wednesday, October 27, 2021
Woman, Bank of America, Ipsos, Community banking models, ATM, Research, Bank, Risk management, Goal, K-12, Knowledge, Retirement, Motivation, File, BAC, Family, NYSE, Tax, Small business, Gaps, Health, Gen, Bank of America Corporate Center, Probability, Generation Z, New, Income, Adult, American, Man, Friends, Development, Population, School, Parent, Community, Hispanic, Online shopping, Marketing, Renewable energy, Holding company, Tobacco, Financial services, Health insurance

Key findings from the research include:

Key Points: 
  • Key findings from the research include:
    Over the past year, 80% of Gen Zers have taken one or more positive financial actions.
  • A significant portion of Gen Z (40%) also say they were never offered a financial education course in school.
  • Much of Gen Z feels knowledgeable about basic financial concepts including saving (85%), managing money (82%) and budgeting (77%).
  • For more Bank of America news, including dividend announcements and other important information,visit the Bank of America newsroom and register for news email alerts .

Potomac Bancshares, Inc. Reports 2021 Third Quarter Results

Retrieved on: 
Tuesday, October 26, 2021
Consensus, Round 1, David Roe, CARES Act, ROA, Financial management, Acceleration, Round 2, Knowledge, Public relations, PTBS, Allpoint, Private Securities Litigation Reform Act, Trust, PPP, Income, Forward-looking statement, Community banking models, BCT, Food, Company, Forgiveness, The Company, OTC, Growth, Consensus decision-making, Advertising, State bank, ROE, Community, Bank, Board of directors, Insurance, Reinsurance, Pension fund, Security (finance), Lithium, Animal, Video game, Real estate

ROA for the quarter was 1.10% up from last year's quarterly ROA of 0.71%, and up from the second quarter 2021 of 1.04%.

Key Points: 
  • ROA for the quarter was 1.10% up from last year's quarterly ROA of 0.71%, and up from the second quarter 2021 of 1.04%.
  • ROE for the quarter was 13.21% compared to 8.07% in the same quarter of the prior year, and up from the second quarter 2021 of 12.28%.
  • Net interest income increased $699 thousand to $5.2 million for the quarter ending September 30, 2021, compared to the quarter ending September 30, 2020.
  • PPP fees and interest recognized in the quarter ending September 30, 2021, were $456 thousand compared to $492 thousand realized during the second quarter of 2021.

More Than 70% of Hispanic Millennials Providing Financial Support to Family Members – With Many Increasing Their Support During the Pandemic

Retrieved on: 
Wednesday, August 18, 2021
Professional Services, Family, Consumer, Finance, Banking, Hispanic, Ipsos, Weather, Population, Investor, Community, Community banking models, Family, Knowledge, Research, New, Bank of America Corporate Center, Bank of America, Investment, NYSE, Probability, Small business, Development, Risk management, Bank, Adult, ATM, BAC, Woman, Retirement, Income, Workforce, Parent, Renewable energy, Birth control

Additionally, nearly one-quarter (23%) increased or are increasing financial support for family due to the pandemic, including immediate and/or extended family.

Key Points: 
  • Additionally, nearly one-quarter (23%) increased or are increasing financial support for family due to the pandemic, including immediate and/or extended family.
  • As job insecurity remains a pressing challenge, the survey found that one-in-five (19%) Hispanic millennials are still unemployed.
  • Hispanic millennials are today two times more likely to feel a greater sense of financial responsibility for loved ones (18% vs. 9% of non-Hispanic millennials).
  • Our research shows us that as Hispanic millennials take steps to rebuild their own financial security, theyre also strongly prioritizing financial support to family in the year ahead.