Core Insights - West Coast Community Bancorp reported unaudited earnings of $29.6 million for the year ended December 31, 2024, a decrease from $35.2 million in 2023. Adjusted net income, excluding merger-related charges, would have been $40.5 million for 2024 [1][4] - The merger with 1st Capital Bank, completed on October 1, 2024, significantly impacted financial results, with a net interest margin of 5.38% in Q4 2024, up from 4.93% in Q3 2024 [2][4] - A quarterly cash dividend of $0.19 per common share was declared, reflecting confidence in the long-term outlook post-merger [2][3] Financial Performance - Quarterly net income for Q4 2024 was $3.8 million, down from $8.2 million in Q3 2024 and $8.8 million in Q4 2023, primarily due to increased merger-related expenses [4][14] - Total assets reached $2.68 billion as of December 31, 2024, a 49% increase compared to September 30, 2024, largely due to the merger [4][22] - Deposits totaled $2.3 billion at December 31, 2024, reflecting a 51% increase from the previous quarter, driven by the merger [4][22] Loan and Asset Quality - Gross loans increased by $650.7 million or 47% from September 30, 2024, largely due to the merger, with nonaccrual loans decreasing to $618 thousand or 0.03% of gross loans [19][20] - The allowance for credit losses was $31.6 million at December 31, 2024, representing 1.55% of total loans, reflecting the growth from the merger [20][21] Capital and Liquidity - Total shareholders' equity increased to $333.0 million at December 31, 2024, a 30% increase from September 30, 2024, due to common stock issuance as part of the merger [25][26] - The Bank's liquidity position showed net available liquidity sources of $1.45 billion, exceeding uninsured and uncollateralized deposits by 131% [15][16] Investment Portfolio - The investment portfolio expanded from $205.8 million as of September 30, 2024, to $407.7 million as of December 31, 2024, mainly due to acquisitions through the merger [17][18] - Net unrealized losses on available-for-sale securities totaled $18.8 million at December 31, 2024, reflecting market conditions [17][26]

OLNEY, Md., Jan. 28, 2025 (GLOBE NEWSWIRE) -- Sandy Spring Bancorp, Inc. (Nasdaq-SASR), the parent company of Sandy Spring Bank, reported a net loss of $39.5 million ($0.87 per diluted common share) for the quarter ended December 31, 2024, compared to net income of $16.2 million ($0.36 per diluted common share) for the third quarter of 2024 and $26.1 million ($0.58 per diluted common share) for the fourth quarter of 2023.   The current quarter's net loss is a result of a $54.4 million goodwill impairment ch ...

LOS ANGELES, Jan. 28, 2025 /PRNewswire/ -- The DJS Law Group reminds investors of a class action lawsuit against Customers Bancorp, Inc. ("Customers" or "the Company") (NYSE: CUBI) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.Shareholders who purchased shares of CUBI during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointments. Appointment as ...

Quarterly EPS Increases 12% to $0.86 from $0.77 One Year AgoQuarterly Return on Average Assets Increases to 1.41%Quarterly Return on Average Equity Increases to 11.03%Quarterly Net Interest Margin Increases to 3.64% HOQUIAM, Wash., Jan. 27, 2025 (GLOBE NEWSWIRE) -- Timberland Bancorp, Inc. (NASDAQ: TSBK) (“Timberland” or “the Company”), the holding company for Timberland Bank (the “Bank”), today reported net income of $6.86 million, or $0.86 per diluted common share for the quarter ended December 31, 2024.  ...

The Pioneer Of Seeking Alpha's BAD BEAT Investing, Quad 7 Capital is a team of 7 analysts with a wide range of experience sharing investment opportunities for nearly 12 years. They are best known for their February 2020 call to sell everything & go short, & have been on average 95% long 5% short since May 2020. The broader company has expertise in business, policy, economics, mathematics, game theory, & the sciences. They share both long & short trades & invest personally in equities they discuss within the ...

DUNKIRK, N.Y., Jan. 27, 2025 (GLOBE NEWSWIRE) -- Lake Shore Bancorp, Inc. (the “Company”) (NASDAQ: LSBK), the holding company for Lake Shore Savings Bank (the “Bank”), announced today that the Board of Directors declared a cash dividend of $0.18 per share on its outstanding common stock on January 27, 2025. The dividend is expected to be paid on February 14, 2025 to stockholders of record as of February 10, 2025. The Company received the written approval from the Federal Reserve Bank of Philadelphia (the “R ...

Company Performance - U S Bancorp (NYSE: USB) is perceived as a top-tier bank by many investors, but its actual performance over the last five years has not matched this reputation [1] Analyst Disclosure - The analyst holds a beneficial long position in shares of JPM, TFC, and FHN through stock ownership, options, or other derivatives [1] - The article reflects the analyst's personal opinions and is not influenced by compensation or business relationships with the mentioned companies [1]

About the Author - The author focuses on income investing through common shares, preferred shares, or bonds, occasionally writing about the broader economy or specific company situations [1] - The author targets publishing two articles per week, typically on Mondays and Tuesdays [1] - The author holds a Bachelor's degree in history/political science and a Master's in Business Administration with a specialization in Finance and Economics [1] - The author has been investing since 2000 and is currently the CEO of an independent living retirement community in Illinois [1] Disclosure and Compensation - The author has no stock, option, or derivative positions in any mentioned companies and no plans to initiate such positions within the next 72 hours [2] - The article expresses the author's own opinions, and the author is not receiving compensation for it other than from Seeking Alpha [2] - The author has no business relationship with any company whose stock is mentioned in the article [2] Seeking Alpha's Disclaimer - Seeking Alpha emphasizes that past performance is no guarantee of future results and does not provide investment recommendations or advice [3] - The views or opinions expressed in the article may not reflect those of Seeking Alpha as a whole [3] - Seeking Alpha is not a licensed securities dealer, broker, or US investment adviser, and its analysts include both professional and individual investors who may not be licensed or certified by any regulatory body [3]

Investment Strategy - Prefers long-term investments with a contrarian view [1] - Mainly invests in stocks and ETFs, focusing on US companies but also analyzes European and Chinese companies [1] Sector Focus - Banking sector is of particular interest due to its importance in understanding economic health [1] - Also interested in Macroeconomics [1] Analytical Approach - Utilizes fundamental analysis to evaluate actual company results rather than technical analysis involving charts and price movements [1]

Market Overview - US stock futures were slightly lower with Nasdaq futures falling around 0 1% [1] - Ericsson shares fell sharply in pre-market trading after reporting Q4 2024 results [1] Ericsson Performance - Ericsson's sales grew 1% YoY to 72 9 billion Swedish Krona driven by 54% growth in the North American market [2] - In USD Ericsson's sales of $6 77 billion missed the analyst consensus estimate of $6 93 billion [2] - EPS of SEK 1 44 versus SEK 1 02 YoY in USD EPS of $0 13 missed the analyst consensus estimate of $0 19 [2] - Ericsson shares tumbled 8 7% to $8 13 in pre-market trading [2] Other Stocks in Pre-Market Trading - Mineralys Therapeutics shares dipped 29 8% to $7 20 [3] - First Financial Bancorp declined 13 8% to $24 11 after reporting Q4 results [3] - Valens Semiconductor fell 12% to $2 58 after declining 3% on Thursday [3] - Acacia Research Corporation fell 11 7% to $3 86 [3] - Semler Scientific shares dipped 10 9% to $54 49 after providing preliminary Q4 guidance and proposing a $75 million private offering [3] - The Manitowoc Company shares tumbled 10 2% to $8 95 [3] - Arcus Biosciences shares fell 9 9% to $12 01 [3] - East West Bancorp shares declined 6 6% to $96 64 after reporting worse-than-expected Q4 earnings [3]