Core Insights - First Citizens Bank and Sixth Street have launched Sixty-First Commercial Finance, a platform aimed at providing flexible capital equipment financing solutions to middle market companies [1][2]. Company Overview - First Citizens Bank is ranked among the top 20 U.S. banks and is one of the five largest banks in equipment finance, indicating a strong position in the market [3]. - Sixth Street is a global investment firm managing over $100 billion in assets, showcasing its significant financial capacity and expertise [8][9]. Joint Venture Details - Sixty-First Commercial Finance will offer mid- and large-ticket capital equipment financing ranging from $5 million to $100 million, covering various equipment asset types and industries [2]. - The joint venture will utilize the combined capabilities of First Citizens Bank and Sixth Street to enhance financing alternatives for clients, providing greater flexibility and execution certainty [3]. Product Offerings - The platform's offerings include tax leases, loans, capital leases, and progress payment financing, targeting mission-critical equipment financing needs across multiple industries such as transportation, construction, and manufacturing [4]. Leadership and Management - Ryan Berlage has been appointed as managing director and chief credit officer of the joint venture, bringing over 20 years of experience in the equipment finance industry [5]. - First Citizens Bank executives, including Kevin Ronan and Edward Moir, will oversee the operations of Sixty-First Commercial Finance, ensuring alignment with the bank's strategic goals [6]. Financial Support - Bank of America is structuring a $300 million warehouse finance facility to support the Sixty-First Commercial Finance joint venture, indicating strong financial backing for the initiative [3].

Citizens, Inc. Vice President of Information Technology Paula Guerrero Appointed Chief Information OfficerFebruary 03, 2025 9:20 AM EST | Source: Citizens, Inc.Austin, Texas--(Newsfile Corp. - February 3, 2025) - Citizens, Inc. (NYSE: CIA), a leading diversified financial services company specializing in life, living benefits, and final expense insurance, today announced Paula Guerrero, who serves as Citizens' Vice President of Information Technology, is promoted to Chief Information Officer, ...

Core Insights - Citizens Bancshares Corporation has appointed Alicia V. J. Wilson to its Board of Directors, bringing extensive expertise in finance and Enterprise Risk Management to support the company's mission [1][4][5] Company Overview - Citizens Trust Bank, a subsidiary of Citizens Bancshares Corporation, is ranked 28th by S&P Global among the top 100 best-performing US Community Banks under $3 billion, celebrating over a century of service to its community [6][7] - The bank focuses on providing customized services and financial solutions to meet the evolving needs of the community, emphasizing economic equality and well-being [6] Leadership and Governance - Alicia V. J. Wilson currently serves as Chief Audit Officer and Vice President of Internal Audit for Southwire, known for her strategic oversight and growth-driving capabilities [2] - Wilson's experience in internal auditing and risk management is expected to enhance the bank's adherence to regulatory standards and corporate governance [3] - The Chairman of the Board, Ray Robinson, expressed confidence in Wilson's ability to guide the company through its growth and innovation phase [4] Strategic Focus - The bank aims to expand its offerings and strengthen its commitment to customer-centered solutions, with Wilson's leadership aligning with this mission [5] - Wilson expressed her eagerness to contribute to the company's vision of fostering financial success and inclusive growth [6]

Core Viewpoint - Citizens, Inc. has appointed Bryon Matthew Lewis as Chief Operating Officer, a newly created global position, to enhance operational efficiency and customer service [1][2]. Company Overview - Citizens, Inc. is a diversified financial services company specializing in life, living benefits, and final expense insurance, operating primarily in the U.S., Latin America, and Asia [4]. - The company offers innovative products in multiple languages, including English, Spanish, Portuguese, and Mandarin, to meet the evolving needs of its customers [4]. Leadership and Experience - Bryon Matthew Lewis, previously the Vice President of Operations, has been promoted to COO, overseeing critical functions such as Underwriting, New Business, Claims, and Corporate and Policyholder Services [1][2]. - Lewis has a strong background in driving business growth and transformation, having joined Citizens in 2021 and previously held leadership roles in health plan operations and IT [2][3]. Strategic Focus - The appointment of Lewis is part of a strategic roadmap aimed at improving operating results and sustainable growth in book value per share [2]. - The company is focused on delivering outstanding customer service, which is a key expectation from its policyholders [2].

Core Insights - First Citizens BancShares, Inc. reported strong financial results for Q4 2024, with net income of $700 million, up from $639 million in Q3 2024, and net income available to common stockholders increased to $685 million from $624 million [3][4] Financial Highlights - Adjusted net income for Q4 2024 was $643 million, a decrease from $675 million in the linked quarter, with adjusted net income available to common stockholders at $628 million, down from $660 million [4] - Net interest income totaled $1.71 billion, a decrease of $87 million from the linked quarter, with net interest margin at 3.32%, down from 3.53% [6][10] - Noninterest income increased to $699 million, up by $49 million compared to the linked quarter, with adjusted noninterest income at $516 million, an increase of $42 million [10] Balance Sheet Summary - Loans and leases reached $140.22 billion, an increase of $1.53 billion (4.4% annualized) from $138.70 billion [9] - Total investment securities rose to $44.09 billion, an increase of $5.43 billion since September 30, 2024 [12] - Deposits totaled $155.23 billion, an increase of $3.66 billion (9.6% annualized growth) [12] Provision for Credit Losses and Credit Quality - Provision for credit losses was $155 million, up from $117 million in the linked quarter, with net charge-offs totaling $160 million, representing 0.46% of average loans [11][13] - Nonaccrual loans decreased to $1.18 billion (0.84% of loans) from $1.24 billion (0.90% of loans) [13] Capital and Liquidity - Capital ratios were well above regulatory requirements, with total risk-based capital at 15.04% and Tier 1 risk-based capital at 13.53% [18] - The company repurchased 461,583 shares of Class A common stock for $963 million during the quarter, with a total of 814,641 shares repurchased for $1.66 billion since the inception of the Share Repurchase Program [18]

Citizens Financial Group (CFG) has reported fourth-quarter 2024 adjusted earnings per share (EPS) of 85 cents, which surpassed the Zacks Consensus Estimate of 83 cents. The bottom line remained unchanged from the year-ago quarter.Find the latest earnings estimates and surprises on the Zacks Earnings Calendar.For 2024, adjusted EPS was $3.25, which beat the Zacks Consensus Estimate of $3.2. However, this compares unfavorably with $3.88 reported in the year-ago quarter.Capital market fees of $121 million rose ...

Core Viewpoint - BAD BEAT Investing, led by Quad 7 Capital, emphasizes a strategic approach to trading, focusing on both long and short positions while educating investors on market dynamics and trading proficiency [1][2] Group 1: Company Overview - Quad 7 Capital consists of a team of 7 analysts with diverse expertise in business, policy, economics, mathematics, game theory, and sciences [1] - The company has been operational for nearly 12 years and is recognized for its significant market calls, including a notable recommendation to sell everything and go short in February 2020 [1] - Since May 2020, the company has maintained an average position of 95% long and 5% short [1] Group 2: Investment Strategy - BAD BEAT Investing focuses on short- and medium-term investments, income generation, special situations, and momentum trades [1] - The company aims to provide high-quality research with clear entry and exit targets, saving investors time and enhancing their trading skills [1] Group 3: Benefits and Tools - Investors benefit from learning market dynamics, receiving well-researched trade ideas weekly, and accessing multiple chat rooms for discussions [2] - The service includes daily summaries of key analyst upgrades and downgrades, basic options trading education, and a variety of trading tools [2]

Citizens Financial Group, Inc. CFG will release earnings results for its fourth quarter, before the opening bell on Friday, Jan. 17, 2025.Analysts expect the Providence, Rhode Island-based company to report quarterly earnings at 83 cents per share, down from 85 cents per share in the year-ago period. Citizens Financial projects to report revenue of $1.96 billion for the recent quarter, compared to $1.99 billion a year earlier, according to data from Benzinga Pro.On Oct. 16, Citizens Financial Group posted w ...

Citizens Financial Group, Inc. (CFG) is scheduled to report its fourth-quarter 2024 results on Jan. 17, 2025, before the opening bell. The bank’s fourth-quarter 2024 revenues are expected to have declined from the year-ago quarter’s reported level, while earnings are expected to have improved.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.In the third quarter, CFG witnessed a rise in non-interest income, along with reduced expenses. However, lower net interest income (NII) and decl ...

As we turn the calendar to 2025 , an action-packed month of both macro and company-specific volatility catalysts is on tap. We’ll get the December payrolls report on Friday, January 10th, bank earnings begin the followingFreelance Financial Writer | Investments | Markets | Personal Finance | RetirementI create written content used in various formats including articles, blogs, emails, and social media for financial advisors and investment firms in a cost-efficient way. My passion is putting a narrative to fi ...