DENVER, Jan. 16, 2024 (GLOBE NEWSWIRE) -- ArrowMark Financial Corp., (NASDAQ:BANX) ("ArrowMark Financial"), today announced that BANX's estimated and unaudited Net Asset Value ("NAV") as of December 31, 2023, was $21.43. This estimated NAV is not a comprehensive statement of our financial condition or results for the month ended December 31, 2023. We advise you that our audited NAV for December 31, 2023, will be released once we complete our annual report and may differ materially from this estimated NAV. A ...

ArrowMark Financial Corp (NASDAQ:BANX) Q3 2022 Earnings Conference Call November 9, 2022 5:00 PM ET Company Participants Julie Muraco - Investor Relations Sanjai Bhonsle - Chairman & Chief Executive Officer Dana Staggs - President Patrick Farrell - Chief Financial Officer Conference Call Participants Operator Welcome to the ArrowMark Financial Corp. Q3 2022 Investor Conference Call. Now I would like to turn the call over to Julie Muraco, Investor Relations of ArrowMark Financial Corp. Julie Muraco Before we ...

ArrowMark Financial Corp (NASDAQ:BANX) Q2 2022 Earnings Conference Call August 4, 2022 5:00 PM ET Company Participants Julie Muraco – Investor Relations Sanjai Bhonsle – Chief Executive Officer Dana Staggs – President Pat Farrell – Chief Financial Officer Conference Call Participants Operator Welcome to the ArrowMark Financial Corp. Q2 2022 Investor Call. As a reminder, this call is being recorded. Now I would like to turn the call over to Julie Muraco, Investor Relations of ArrowMark Financial Corp. Julie ...

ArrowMark Financial Corp. (NASDAQ:BANX) Q1 2022 Earnings Conference Call May 12, 2022 5:00 PM ET Company Participants Julie Muraco - IR Sanjai Bhonsle - CEO & Chairman Patrick Farrell - CFO Conference Call Participants Operator Welcome to the ArrowMark Financial Corp. Q1 2022 Investor Conference Call. At this time, all participants are in a listen-only mode. [Operator Instructions] As a reminder, this conference is being recorded. I would now like to turn the call over to Julie Muraco, Investor Relations f ...

Financial Data and Key Metrics Changes - Net investment income for Q4 2021 was approximately $2.9 million or $0.41 per share, with a net realized and unrealized loss on investments of approximately $644,000 or $0.09 per share [8][14] - Net asset value (NAV) at the end of the quarter was $21.70, down $0.16 from the prior quarter, reflecting a stable asset quality [8][13] - Total assets of the portfolio were reported at $218.7 million, up 16% from the prior year, while the value of the invested portfolio was $215.4 million, up 21% from the prior year [11][19] Business Line Data and Key Metrics Changes - The company invested a total of $22.5 million in 5 regulatory capital transactions during Q4, with a weighted average coupon of 10% and a weighted average yield to maturity of approximately 10.2% [10] - The estimated annualized effective yield increased to 9.48% as of December 31, up from 9.2% or an increase of 28 basis points from the prior quarter [11] Market Data and Key Metrics Changes - The regulatory capital relief market for money center banks had a strong issuance of approximately $6.5 billion in Q4, with a total issuance of approximately $13 billion for the full year [8] - The anticipated increase in interest rates is expected to positively impact the banking sector's earnings and the company's portfolio, as approximately 70% of total investments are in floating rate assets [6][7] Company Strategy and Development Direction - The company transitioned its name from StoneCastle Financial Corp. to ArrowMark Financial Corp. effective February 24, 2022, while maintaining the same management and investment strategy [4] - The strategy continues to focus on the entire banking sector, with an emphasis on regulatory capital release securities that are more attractive on a risk-adjusted basis compared to community banks [7][10] Management's Comments on Operating Environment and Future Outlook - Management noted that geopolitical events, particularly the conflict between Russia and Ukraine, have negatively impacted global markets, but the investment portfolio remains well insulated from these risks [5] - The company expects loan growth trends to continue, which will be accretive to bank earnings and correlated to an increase in Tier 1 capital ratios [6] Other Important Information - The company declared a total dividend of $0.48 per share in Q4, which includes a regular cash dividend of $0.38 and a special cash dividend of $0.10, reflecting the company's ability to consistently over earn its quarterly dividend rate [9][16] - The company had $60 million drawn from its credit facility at the end of the quarter, representing 27% of total assets [19] Q&A Session Summary - No specific questions or answers were recorded in the provided content, indicating the conclusion of the conference call without a Q&A segment [21]

StoneCastle Financial Corp (NASDAQ:BANX) Q3 2021 Earnings Conference Call November 10, 2021 5:00 PM ET Company Participants Sanjai Bhonsle - CEO & Chairman Julie Muraco - IR Patrick Farrell - CFO Conference Call Participants Operator Welcome to the StoneCastle Financial Corp. Q3 2021 Investor Conference Call. [Operator Instructions]. Now I would like to turn the call over to Julie Muraco, Investor Relations of StoneCastle Financial. Please go ahead. Julie Muraco Before we begin this conference call, I'd lik ...

StoneCastle Financial Corp (NASDAQ:BANX) Q2 2021 Earnings Conference Call August 5, 2021 5:00 PM ET Company Participants Julie Muraco - IR Sanjai Bhonsle - CEO & Chairman Patrick Farrell - CFO Conference Call Participants Christopher O'Connell - KBW Operator Welcome to the StoneCastle Financial Corp. Q2 2021 Investor Conference Call. [Operator Instructions]. As a reminder, this conference is being recorded. Now I would like to turn the call over to Julie Muraco, Investor Relations of StoneCastle Financial. ...

StoneCastle Financial (NASDAQ:BANX) Q1 2021 Earnings Conference Call May 13, 2021 5:00 PM ET Company Participants Julie Muraco - Investor Relations Sanjai Bhonsle - Chairman and Chief Executive Officer Patrick Farrell - Chief Financial Officer Conference Call Participants Christopher O'Connell - Keefe, Bruyette, & Woods, Inc. Operator Welcome to the StoneCastle Financial Corp. Q1 2021 Investor Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follo ...

StoneCastle Financial (NASDAQ:BANX) Q4 2020 Earnings Conference Call March 1, 2021 5:00 PM ET Company Participants Julie Muraco - Investor Relations Sanjai Bhonsle - Chairman & Chief Executive Officer Pat Farrell - Chief Financial Officer Conference Call Participants Chris O'Connell - KBW Operator Welcome to the StoneCastle Financial Corp. Q4 2020 Investor Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator I ...

StoneCastle Financial (NASDAQ:BANX) Q3 2020 Earnings Conference Call November 12, 2020 5:00 PM ET Company Participants Rachel Schatten - General Counsel Sanjai Bhonsle - Chairman & Chief Executive Officer Pat Farrell - Chief Financial Officer Conference Call Participants Chris O'connell - KBW Bryce Rowe - National Securities Devin Ryan - JMP Securities Operator Welcome to the StoneCastle Financial Corp. Q3 2020 Investor Conference Call. At this time, all participants are in a listen-only mode. A question-an ...