First Quarter 2025 Highlights OLYMPIA, Wash., April 24, 2025 /PRNewswire/ -- Heritage Financial Corporation (Nasdaq GS: HFWA) (the "Company", "we," or "us"), the parent company of Heritage Bank (the "Bank"), today reported net income of $13.9 million for the first quarter of 2025, compared to $11.9 million for the fourth quarter of 2024 and $5.7 million for the first quarter of 2024. Diluted earnings per share for the first quarter of 2025 were $0.40 compared to $0.34 for the fourth quarter of 2024 and $0.1 ...

Pathward Financial (CASH) reported $262.87 million in revenue for the quarter ended March 2025, representing a year-over-year increase of 6.3%. EPS of $3.11 for the same period compares to $2.56 a year ago.The reported revenue represents a surprise of +2.24% over the Zacks Consensus Estimate of $257.11 million. With the consensus EPS estimate being $2.71, the EPS surprise was +14.76%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to W ...

Financial Data and Key Metrics Changes - The company reported earnings of $3.11 per share for the March quarter, representing year-over-year growth of 21% and net income of $74.3 million [9] - Non-interest income increased by 7% and net interest income grew by 5% compared to the same quarter last year [9] - The net interest margin for the quarter was 6.50%, up from 6.23% in the prior year period, with an adjusted net interest margin expanding by 33 basis points [21] Business Line Data and Key Metrics Changes - Non-interest income related to refund transfer products and refund advance products increased by 13% each, with total tax services revenues reaching $85 million, a growth of 17% year-over-year [13] - Pre-tax income for tax services grew by 29% to $47.6 million, indicating stable growth and solid results in this segment [14] - Loans and leases at March 31 were $4.5 billion, a slight increase from $4.4 billion last year, representing significant growth when excluding insurance premium finance loans [26] Market Data and Key Metrics Changes - The company operated with over 42,000 independent tax offices, a new record, contributing to strong performance during the tax season [12] - Deposits held on the company's balance sheet declined from a year ago, with custodial deposits at partner banks at $1.1 billion, down from $1.2 billion [25] Company Strategy and Development Direction - The company is focused on balance sheet optimization, allowing it to generate revenue without needing to grow its balance sheet [8] - A strategic partnership was established to support renewable energy loan growth, which is expected to accelerate growth within this initiative [15] - The company aims to be a trusted platform for partners, enhancing operational effectiveness and market share in the tax business [18] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the tax business continuing to perform well, although growth may not be as rapid as in the current year [35] - The company is not seeing any deterioration in credit quality and expects to benefit from higher-quality companies seeking funding during economic downturns [40] - Fiscal year 2025 EPS guidance was revised to a range of $7.40 to $7.80, reflecting confidence in continued performance [29] Other Important Information - The company repurchased approximately 576,000 shares at an average price of $78.11, bringing year-to-date repurchases to almost 1.3 million shares [29] - Liquidity remains strong with almost $3.9 billion available, higher than the previous year [28] Q&A Session Summary Question: Future of the tax business and market share growth - Management indicated that operational effectiveness and market share improvements are ongoing, with expectations for continued performance despite potential slower growth [35] Question: Commercial finance business outlook amid macro uncertainty - Management noted no deterioration in credit quality and expressed optimism about growth opportunities, particularly in working capital lending [40] Question: Capital return strategy and buyback program - Management confirmed plans to maintain buybacks at a level of 80% to 90% for the remainder of the year while targeting a tier one leverage ratio closer to 10% [46] Question: Changes in activity since economic shifts - Management reported no measurable changes in consumer behavior, as the business primarily serves essential needs [50] Question: New partnership for loan origination - Management provided details on a new partnership focused on online consumer term loans, emphasizing careful monitoring of credit exposure [53] Question: Margin outlook and potential rate cuts - Management explained that while rate cuts could have a minor impact, the overall balance sheet management strategy remains robust [62] Question: Opportunities from market disruptions - Management stated that the current market dynamics are creating opportunities, allowing the company to selectively pursue advantageous deals [65]

Core Viewpoint - Pathward Financial (CASH) reported quarterly earnings of $3.11 per share, exceeding the Zacks Consensus Estimate of $2.71 per share, and showing an increase from $2.56 per share a year ago, indicating a strong performance in the recent quarter [1][2] Financial Performance - The company achieved revenues of $262.87 million for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 2.24% and up from $247.25 million year-over-year [2] - Pathward has consistently outperformed consensus EPS estimates over the last four quarters, achieving this four times [2] Stock Performance - Pathward shares have declined approximately 4.4% since the beginning of the year, while the S&P 500 has seen a decline of 12.3%, indicating relative outperformance [3] Future Outlook - The company's earnings outlook will be crucial for determining the stock's immediate price movement, with current consensus EPS estimates at $1.82 for the coming quarter and $7.55 for the current fiscal year [4][7] - The estimate revisions trend for Pathward is currently mixed, resulting in a Zacks Rank 3 (Hold), suggesting the stock is expected to perform in line with the market in the near future [6] Industry Context - The Banks - Northeast industry, to which Pathward belongs, is currently ranked in the top 25% of over 250 Zacks industries, indicating a favorable industry outlook [8]

Financial Data and Key Metrics Changes - The company reported earnings of $3.11 per share for the quarter, representing a year-over-year growth of 21% and net income of $74.3 million [7] - Non-interest income increased by 7% and net interest income grew by 5% compared to the same quarter last year [7] - The net interest margin for the quarter was 6.5%, up from 6.23% in the prior year period, with an adjusted net interest margin expanding by 33 basis points [15] Business Line Data and Key Metrics Changes - Tax services revenues reached $85 million, a growth of 17% year-over-year, driven by a 13% increase in non-interest income related to refund transfer and refund advance products [10] - Pre-tax income for tax services grew by 29% to $47.6 million, indicating stable growth and solid results [11] - Loans and leases increased to $4.5 billion, a slight rise from $4.4 billion last year, representing a 15% growth year-over-year when excluding insurance premium finance loans [18] Market Data and Key Metrics Changes - The company operated with over 42,000 independent tax offices, setting a new record [9] - Deposits held on the company's balance sheet declined from the previous year, with custodial deposits at partner banks at $1.1 billion, down from $1.2 billion [17] Company Strategy and Development Direction - The company is focused on balance sheet optimization, allowing it to generate revenue without needing to grow its balance sheet [6] - A strategic partnership was established to support renewable energy loan growth, which is expected to enhance growth within the renewable energy initiative [12] - The company aims to continue growing non-interest income, which now represents 45% of total revenue [7] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, citing a strong tax season and healthy business performance [6] - There are no signs of economic slowdown in the portfolio, with performance metrics remaining within historical ranges [19] - The fiscal year 2025 EPS guidance was revised to a range of $7.4 to $7.8, reflecting confidence in continued performance [20] Other Important Information - The company repurchased approximately 576,000 shares at an average price of $78.11, bringing year-to-date repurchases to nearly 1.3 million shares [20] - The allowance for credit losses, excluding seasonal tax service lending, was 101 basis points, with an annualized net charge-off rate of 61 basis points [19] Q&A Session Summary Question: How does the company view the scalability of the tax business going forward? - Management noted that operational effectiveness and market share penetration have improved, and while growth may not be as rapid as this year, they remain positive about the tax business [23][24] Question: What are the thoughts on the commercial finance business given the macro environment? - Management acknowledged uncertainty but reported no deterioration in credit quality, indicating optimism for growth as higher quality companies may seek their services [25][28] Question: Will the company consider accelerating the buyback program? - Management indicated that they plan to maintain buybacks at current levels while targeting a Tier one leverage ratio closer to 10% [30][32][33] Question: Has there been any change in activity since Liberation Day? - Management reported no measurable change in activity, emphasizing that their business primarily serves essential needs [40] Question: Can you provide more details on the new partnership for loan origination? - The partnership focuses on online consumer term loans, with a strong emphasis on monitoring credit exposure and underwriting models [41][42]

Financial Data and Key Metrics Changes - The company reported earnings of $3.11 per share for the March quarter, representing year-over-year growth of 21% and net income of $74.3 million [9] - Non-interest income increased by 7% and net interest income grew by 5% compared to the same quarter last year [9] - The net interest margin increased to 6.50% from 6.23% in the prior year period, with an adjusted net interest margin expanding by 33 basis points [21] Business Line Data and Key Metrics Changes - Non-interest income related to refund transfer products and refund advance products increased by 13% each, with total tax services revenues reaching $85 million, a growth of 17% year-over-year [13] - Pre-tax income for tax services grew by 29% to $47.6 million, indicating stable growth and solid results in this segment [14] - Loans and leases increased to $4.5 billion, a slight increase from $4.4 billion last year, representing a 15% growth when excluding insurance premium finance loans from the prior year [26] Market Data and Key Metrics Changes - The company operated with over 42,000 independent tax offices, a new record, contributing to strong performance during the tax season [12] - Deposits held on the company's balance sheet declined from a year ago, with custodial deposits at partner banks at $1.1 billion, down from $1.2 billion [25] Company Strategy and Development Direction - The company is focused on balance sheet optimization, allowing it to generate revenue without needing to grow its balance sheet [8] - A strategic partnership was established to support renewable energy loan growth, which is expected to accelerate growth within this initiative [15] - The company aims to be a trusted platform for partners, enhancing its capabilities to provide tailored solutions [18] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the tax business continuing to perform well, although growth may not be as rapid as in the current year [35] - The company is not seeing any deterioration in credit quality and anticipates that economic downturns may actually benefit its working capital group [40] - The fiscal year 2025 EPS guidance was revised to a range of $7.40 to $7.80, reflecting confidence in continued performance [29] Other Important Information - The company repurchased approximately 576,000 shares at an average price of $78.11, bringing year-to-date repurchases to almost 1.3 million shares [29] - Liquidity remains strong with almost $3.9 billion available, higher than the previous year [28] Q&A Session Summary Question: Future of the tax business and market share growth - Management indicated that operational effectiveness and market share penetration have improved, with expectations of continued performance but possibly slower growth [35] Question: Commercial finance business outlook amid macro uncertainty - Management noted no deterioration in credit quality and expressed optimism about the working capital group's performance during downturns [40] Question: Capital return strategy and buyback program - Management plans to maintain buybacks at a level of 80% to 90% for the remainder of the year while targeting a tier one leverage ratio closer to 10% [46] Question: Changes in activity since economic shifts - Management reported no measurable changes in consumer behavior, as the business primarily serves essential needs [50] Question: New partnership for loan origination - Management provided details on a new partnership focusing on online consumer term loans, emphasizing careful monitoring of credit exposure [53] Question: Margin outlook and potential rate cuts - Management explained that while rate cuts could have an impact, the company is well-positioned to manage its balance sheet effectively [62] Question: Opportunities from market disruptions - Management noted that the current market dynamics are creating opportunities, allowing the company to be selective in pursuing new programs or portfolios [65]

Exhibit 99.1 PATHWARD FINANCIAL, INC. ANNOUNCES RESULTS FOR 2025 FISCAL SECOND QUARTER Sioux Falls, S.D., April 22, 2025 - Pathward Financial, Inc. ("Pathward Financial" or the "Company") (Nasdaq: CASH) reported net income of $74.3 million, or $3.11 per share, for the three months ended March 31, 2025, compared to net income of $65.3 million, or $2.56 per share, for the three months ended March 31, 2024. CEO Brett Pharr said, "At the halfway point for the fiscal year, our businesses are healthy, and we are ...

DALLAS, April 17, 2025 /PRNewswire/ -- Argent Trust Company, as Trustee of the Permian Basin Royalty Trust (NYSE: PBT) ("Permian" or the "Trust") today declared a cash distribution to the holders of its units of beneficial interest of $0.019615 per unit, payable on May 14, 2025, to unit holders of record on April 30, 2025. The distribution does not include proceeds from the Waddell Ranch properties, as total production costs ("Production Costs") exceeded gross proceeds ("Gross Proceeds") for the month of Ma ...

DALLAS, April 17, 2025 /PRNewswire/ -- Argent Trust Company, as Trustee of the Cross Timbers Royalty Trust (the "Trust") (NYSE: CRT), today declared a cash distribution to the holders of its units of beneficial interest of $0.032110 per unit, payable on May 14, 2025, to unitholders of record on April 30, 2025. The following table shows underlying oil and gas sales and average prices attributable to the current month and prior month distributions. Underlying Sales Volumes (a)  Average Price ...

Core Viewpoint - Wall Street anticipates a year-over-year increase in earnings for Pathward Financial, with a focus on how actual results compare to estimates impacting stock price [1][2]. Earnings Expectations - Pathward Financial is expected to report quarterly earnings of $2.71 per share, reflecting a +5.9% change year-over-year, with revenues projected at $257.11 million, up 4% from the previous year [3]. - The earnings report is scheduled for April 22, 2025, and could influence stock movement based on whether results exceed or fall short of expectations [2]. Estimate Revisions - The consensus EPS estimate has been revised 1.89% lower in the last 30 days, indicating a reassessment by analysts [4]. - The Most Accurate Estimate aligns with the Zacks Consensus Estimate, resulting in an Earnings ESP of 0%, suggesting no recent differing analyst views [10][11]. Earnings Surprise Prediction - The Zacks Earnings ESP model indicates that a positive or negative reading can predict deviations from consensus estimates, with positive readings being more reliable [7][8]. - Pathward's current Zacks Rank is 3, making it challenging to predict an earnings beat conclusively [11]. Historical Performance - Pathward has a history of beating consensus EPS estimates, having done so in the last four quarters, including a +13.16% surprise in the last reported quarter [12][13]. Conclusion - While Pathward does not appear to be a strong candidate for an earnings beat, investors should consider other factors before making investment decisions [16].