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]

Financial Performance - The company reported net income of $64.9 million for Q4 2024, compared to $52.5 million in Q3 2024 [2] - Earnings per diluted share were $0.68 for Q4 2024, down from $2.69 for the full year 2023 [2] - Return on average assets increased to 1.41% in Q4 2024 from 1.17% in Q3 2024 [3] - Adjusted return on tangible common equity was 19.90% in Q4 2024, up from 16.29% in Q3 2024 [3] Loan and Deposit Growth - Loan growth exceeded 7% on an annualized basis in Q4 2024 [4] - Total deposits surged by approximately 16% on an annualized basis in Q4 2024 [4] - Total loans increased by 7.6% to $11.8 billion for the full year 2024 [4] - Total deposits grew by 7.2% to $14.3 billion for the full year 2024 [4] Noninterest Income and Expenses - Adjusted noninterest income increased by double-digit percentages in leasing, foreign exchange, and wealth management in Q4 2024 [4] - Noninterest income reached a record $241.8 million for the full year 2024, a 13.3% increase [4] - Adjusted expenses increased by 5% in Q4 2024, driven by higher incentive compensation [4] Asset Quality - Nonperforming assets remained flat at 0.36% in Q4 2024 [4] - Classified assets increased by 7 basis points to 1.21% in Q4 2024 [4] - Net charge-offs as a percentage of average loans declined 3 basis points to 0.30% for the full year 2024 [4] Capital and Liquidity - Tangible common equity increased by 56 basis points to 7.73% for the full year 2024 [4] - Tangible book value per share increased by 14.3% to $14.15 for the full year 2024 [4] - Total capital ratio decreased slightly to 14.43% in Q4 2024 from 14.58% in Q3 2024 [6] Expansion and Strategy - The company expanded into Grand Rapids, MI with a commercial banking team in early 2025 [4] - Workforce efficiency initiatives eliminated 145 positions, with completion expected in 2025 [4] - The company gained momentum in expansion markets including Chicago, IL, Evansville, IN, and Cleveland, OH [4]

Financial Performance - Net income for Q4 2024 was $4.9 million, or $0.29 per diluted share, compared to $716,000, or $0.04 per diluted share, in Q3 2024, and $2.9 million, or $0.18 per diluted share, in Q4 2023 [1] - For the full year 2024, net income was $7.3 million, or $0.43 per diluted share, compared to $11.0 million, or $0.66 per diluted share, in 2023 [1] - Return on average assets was 1.22% for Q4 2024, up from 0.18% in Q3 2024 and 0.70% in Q4 2023 [1] - Return on average equity was 8.54% for Q4 2024, compared to 1.27% in Q3 2024 and 5.33% in Q4 2023 [1] Interest Income and Expenses - Net interest and dividend income for Q4 2024 was $13.6 million, up 9.9% from Q3 2024 and 0.6% from Q4 2023 [2] - Interest rate spread and net interest margin for Q4 2024 were 2.53% and 3.62%, respectively, compared to 2.19% and 3.38% in Q3 2024, and 2.36% and 3.45% in Q4 2023 [2] - Total interest and dividend income for Q4 2024 was $23.1 million, up 3.1% from Q3 2024 but down 1.9% from Q4 2023 [3] - Total interest expense for Q4 2024 was $9.5 million, down 5.4% from Q3 2024 and 5.2% from Q4 2023 [4] Credit Quality - Non-accrual loans were $20.9 million, or 1.31% of total assets, as of December 31, 2024, down from $37.2 million, or 2.25% of total assets, as of September 30, 2024 [8] - Net recoveries totaled $867,000 for Q4 2024, compared to net charge-offs of $84,000 in Q3 2024 and $1.2 million in Q4 2023 [7] - The allowance for credit losses on loans was $21.1 million, or 1.59% of total loans, as of December 31, 2024, compared to $21.9 million, or 1.56% of total loans, as of September 30, 2024 [14] Balance Sheet and Capital - Total assets were $1.59 billion at December 31, 2024, down 3.3% from September 30, 2024, and 4.6% from December 31, 2023 [14] - Total deposits were $1.31 billion at December 31, 2024, up 1.6% from September 30, 2024, but down 1.7% from December 31, 2023 [15] - Shareholders' equity totaled $231.1 million at December 31, 2024, up 2.2% from September 30, 2024, and 4.1% from December 31, 2023 [16] - Book value per share was $12.99 at December 31, 2024, up from $12.76 at September 30, 2024, and $12.55 at December 31, 2023 [16]

Legal Investigation and Class Action - Faruqi & Faruqi, LLP is investigating potential claims against Customers Bancorp for alleged violations of federal securities laws [2] - The complaint alleges that Customers Bancorp made false and/or misleading statements and failed to disclose inadequate anti-money laundering practices, non-compliance with legal obligations, and heightened regulatory risk [4] - Investors who purchased or acquired securities in Customers Bancorp between March 1, 2024 and August 8, 2024 are encouraged to discuss their legal rights [1] Regulatory Action and Market Impact - The Federal Reserve Board issued an enforcement action against Customers Bancorp on August 8, 2024, citing significant deficiencies in risk management and anti-money laundering compliance [5][6] - Customers Bancorp's common stock fell 13.3% on August 8, 2024, following the announcement of the enforcement action [6] Lead Plaintiff and Class Action Details - The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class [7] - Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice or remain an absent class member [7] Firm Background and Contact Information - Faruqi & Faruqi, LLP is a leading national securities law firm with offices in New York, Pennsylvania, California, and Georgia [3] - The firm encourages anyone with information regarding Customers Bancorp's conduct to contact them, including whistleblowers, former employees, and shareholders [8]

Company Overview - Stock Yards Bancorp Inc is the parent company of Stock Yards Bank & Trust Company with offices in Louisville central eastern and northern Kentucky as well as the Indianapolis Indiana and Cincinnati Ohio metropolitan markets [1] - The company was incorporated in 1988 as a bank holding company and has $886 billion in assets [2] - Stock Yards Bank & Trust Company was established in 1904 and the company's common shares trade on The NASDAQ Stock Market under the symbol SYBT [2] Management Participation - Ja Hillebrand Chairman and CEO and T Clay Stinnett EVP and CFO will participate in the Janney Annual CEO Forum on January 29th and 30th [1] - They will also participate in a series of meetings with institutional investors during the forum [1] Investor Relations - Management's discussion materials for the conference will be posted to the investor section of the company's website wwwsybcom on or before January 29 2025 [2]

Capital One Financial Corporation (COF) - The company reported decent results for the fourth quarter, with stabilizing credit metrics, decreasing losses, and a continued downward trend in allowances [1] - The DFS deal is expected to increase EPS power to over $22, with no major efficiency risks despite compliance investments [2] - Capital One Financial's strong CET1 ratio positions it to return significant capital in the future [2] - Shares are currently trading at just over 10x 2026E EPS, with potential upside as the market gains confidence in the company's earnings and network scalability [2] Fifth Third Bancorp (FITB) - The company reported a solid fourth quarter PPNR beat, driven by stronger than expected fees, while expenses and NII were in-line [3] - The beat on fees was driven by strength in commercial banking and capital markets, with the three-pronged fee strategy (wealth, payments, and capital markets) delivering strong results [3] - The analyst is optimistic about Fifth Third's fundamentals, citing record net interest income in 2025, improved loan growth, and margin expansion [4] - Fee income growth is a strength, and with a CET1 ratio of 10.5%, FITB is well-positioned for capital returns [4] - Shares are trading at a slight premium to peers, but the analyst sees the company maintaining or even widening that premium if it continues executing well and driving positive operating leverage while investing for growth [4]

Financial Performance - Net income for Q4 2024 increased by 13% to $9.72 million compared to Q3 2024, and by 28% compared to Q4 2023 [1] - Full-year net income for 2024 was $34.15 million, a slight increase from $33.56 million in 2023 [1] - Pre-tax, pre-provision income increased by 33% to $14.98 million in Q4 2024 [3] - Return on average equity (ROAE) was 23.11% and return on average assets (ROAA) was 2.53% in Q4 2024 [3] - Net interest margin expanded by 5 basis points to 5.24% in Q4 2024 compared to Q4 2023 [3] Balance Sheet Growth - Total assets increased by 10% to $1.51 billion at the end of 2024 [3] - Total loan portfolio grew by 15% to $1.07 billion in 2024 [3] - Total deposits increased by 12% to $1.28 billion in 2024 [3] - Shareholder equity increased by 29% to $168.39 million in 2024 [3] Regulatory Compliance - The company entered into a Consent Order with FDIC and CDFPI addressing AML/CFT program deficiencies [2] - The order requires enhanced oversight, internal controls, and independent testing of compliance programs [4] - The company anticipates exiting some ISO relationships in Q2 2025, impacting $156 million in non-interest bearing deposits [10] Operational Highlights - Merchant services revenue increased by 57% to $7.56 million in Q4 2024 [18] - Total non-interest income grew by 28% to $31.95 million for the full year 2024 [30] - Operating expenses increased by 28% to $51.99 million in 2024, driven by compliance and technology investments [31] Capital Management - The company authorized a $15 million stock repurchase program, representing 8.9% of total shareholders' equity [11] - Book value per common share increased by 29% to $53.02 at the end of 2024 [40] - The tangible common equity ratio improved to 11.18% at the end of 2024 [40] Asset Quality - Nonperforming assets decreased to $9.89 million, or 0.66% of total assets, at the end of 2024 [42] - The allowance for credit losses to total loans ratio was 1.10% at the end of 2024 [47] - Delinquent loans increased to $8.32 million at the end of 2024, with $2.79 million being government-guaranteed loans [43]

YUBA CITY, Calif., Jan. 21, 2025 (GLOBE NEWSWIRE) -- River Valley Community Bancorp (OTC markets: RVCB) with its wholly owned subsidiary, River Valley Community Bank (collectively referred to as the “Bank”), today announced financial results for the quarter ended December 31, 2024. The full earnings release can be found on the Bank’s Investor Relations website at Investor Relations - River Valley Community Bank. The Bank remains highly rated with BauerFinancial, and Depositaccounts.com and serves its custom ...

Goldman Sachs analyst Richard Ramsden reiterated the Neutral rating on U.S. Bancorp USB, lowering the price forecast to $49.Last week, the company reported fourth quarter adjusted earnings per share of $1.07, beating the street view of $1.05.Quarterly sales of $6.98 billion marginally missed the analyst consensus estimate of $6.996 billion.The analyst projects the company’s net interest income to grow 3% year-over-year in 2025, which is lower than peers due to limited upside from fixed asset repricing.Howev ...

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 ...