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]

Core Viewpoint - Citizens Financial Group (CFG) reported fourth-quarter 2024 adjusted earnings per share (EPS) of 85 cents, exceeding the Zacks Consensus Estimate of 83 cents, while remaining unchanged from the previous year [1] Financial Performance - For 2024, adjusted EPS was $3.25, beating the Zacks Consensus Estimate of $3.2, but down from $3.88 in the year-ago quarter [2] - Net income (GAAP basis) for the fourth quarter was $401 million, significantly up from $189 million in the prior-year quarter, while full-year net income was $1.5 billion, a decrease of 6.2% year over year [3] - Total quarterly revenues were $1.99 billion, surpassing the Zacks Consensus Estimate of $1.96 billion, but showing a slight year-over-year decline; full-year revenues totaled $7.81 billion, down 5% year over year, yet beating the Zacks Consensus Estimate of $7.79 billion [4] Income and Expenses - Net interest income (NII) decreased 5.1% year over year to $1.41 billion, attributed to a lower net interest margin and a decline in average interest-earning assets [5] - The net interest margin (NIM) shrank four basis points to 2.86% due to increased funding and swap costs, partially offset by fixed-rate asset repricing [5] - Non-interest income rose 14.8% to $574 million, driven by increased service charges, capital market fees, and mortgage banking income [6] - Non-interest expenses decreased 18.4% to $1.32 billion, reflecting a reduction in various operational costs [6] - The efficiency ratio improved to 66.3% in the fourth quarter from 81.1% in the year-ago quarter, indicating increased profitability [7] Loan and Deposit Balances - As of December 31, 2024, total loans and leases were $139.2 billion, down 1.7% from the prior-year quarter, while total deposits decreased marginally to $174.8 billion [8] Credit Quality - The provision for credit losses was $162 million, down 5.3% from the year-ago quarter, while net charge-offs increased 10.5% to $189 million [10] - Non-accrual loans and leases rose 22% to $1.67 billion [10] Capital Position - As of December 31, 2024, the tier 1 leverage ratio was 9.4%, up from 9.3% in the prior-year quarter, and the common equity tier 1 capital ratio was 10.8%, compared to 10.6% previously [11] Shareholder Returns - In the fourth quarter of 2024, CFG repurchased $225 million of common shares and paid $188 million in common dividends [12] Strategic Outlook - CFG's focus on strategic initiatives and inorganic growth is expected to support its financials, although concerns remain regarding lower NII and declining loan and deposit balances [13]

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 ...

RALEIGH, N.C., Dec. 16, 2024 /PRNewswire/ -- Matt Snow has been appointed to the board of directors of First Citizens BancShares, Inc. ("BancShares") and its subsidiary, First-Citizens Bank & Trust Company ("First Citizens Bank"), effective Jan. 2, 2025. Matt Snow has been appointed to the board of directors of First Citizens BancShares, Inc. and its subsidiary, First-Citizens Bank & Trust Company, effective Jan. 2, 2025. For the past two years, Snow has served as chairman of the governing board of For ...

Citizens, Inc. Announces Filing of Form S-3 to Replace Expiring Shelf Registration StatementNovember 27, 2024 4:05 PM EST | Source: Citizens, Inc.Austin, Texas--(Newsfile Corp. - November 27, 2024) - Citizens, Inc. (NYSE: CIA), a leading diversified financial services company specializing in life, living benefits, and final expense insurance, today announced it has filed a shelf registration statement (the "Shelf Registration") on Form S-3 with the United States Securities and Exchange Commiss ...