WHITE PLAINS, N.Y., Oct. 28, 2024 (GLOBE NEWSWIRE) -- NorthEast Community Bancorp, Inc. (Nasdaq: NECB) (the “Company”), the parent holding company of NorthEast Community Bank (the “Bank”), generated net income of $12.7 million, or $0.97 per basic share and $0.95 per diluted share, for the three months ended September 30, 2024 compared to net income of $11.8 million, or $0.80 per basic and diluted share, for the three months ended September 30, 2023. In addition, the Company generated net income of $36.9 mil ...

The Company’s tier one leverage and risk-based capital ratios were 11.57% and 29.07%, respectively, and the Company is considered to be “well-capitalized” at September 30, 2024.Ratio of non-performing assets to total assets of 0.11% at September 30, 2024. HONOLULU, Oct. 28, 2024 (GLOBE NEWSWIRE) -- Territorial Bancorp Inc. (NASDAQ: TBNK) (the Company), headquartered in Honolulu, Hawaii, the holding company parent of Territorial Savings Bank, reported a net loss of $1,318,000, or $0.15 per diluted share, for ...

Earnings of BCB Bancorp, Inc. (NASDAQ: BCBP ) will likely recover in upcoming quarters as interest rate cuts will lift both the margin and the residential loan balance. As a result, I'm expecting earnings to fall by 31% to $1.18 per share in Analyst's Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving com ...

In this analysis, we resume our regional bank coverage with a look into the earnings of First Financial Bancorp. (NASDAQ: FFBC ), a bank headquartered in Cincinnati, OH. We like holding shares following this print, after Pay yourself dividends with outsized returns Get more with our playbook to significantly grow your wealth by embracing a blended trading and investing approach at our one-stop shop. Our prices go up from November 1st, but right now, we have a big sale on the current price. Join NOW and you ...

Technically, the company posted its final-earnings report under its current name. On Friday, it was New York Community Bancorp's (NYCB -8.26%) turn to present its third-quarter financial results. This was met with a fairly sharp and negative reaction from the market, which wasted little time in selling off the stock to the point where it closed more than 8% lower. That was notably worse than the essentially flat performance of the bellwether S&P 500 index on the day. Deep in the red For the quarter, New Yor ...

New York Community Bancorp, Inc. (NYSE: NYCB ) has been on a wild ride for a few years. From a commercial/office banking crisis, buying up many of Signature Bank's old assets, to massive investments from major money Pay yourself dividends with outsized returns Get more with our playbook to significantly grow your wealth by embracing a blended trading and investing approach at our one-stop shop. Our prices go up November 1st, but right now we have a big sale on the current price. Join NOW and you can lock in ...

Financial Data and Key Metrics Changes - The Bancorp earned $1.04 per share in Q3 2024, with revenue growth primarily driven by the FinTech Solutions Group [4] - Total credit sponsorship balances increased significantly to $280 million from $70 million at the end of Q2 2024 [4] - Non-interest income for Q3 2024 was $32.1 million, a 20% increase compared to Q3 2023 [13] - Book value per share rose 18% to $16.90 compared to $14.36 a year earlier [14] Business Line Data and Key Metrics Changes - The FinTech Solutions Group experienced a 15% growth in GDV and a 22% increase in total fee growth from FinTech payments and credit sponsorship fees [4] - Small business lending grew by 14% year-over-year [5] - Non-interest expense increased by 12% to $53.3 million, driven by an 11% rise in salaries and benefits [13] Market Data and Key Metrics Changes - Average FinTech Solutions Group deposits increased by 11% to $6.64 billion from $6.01 billion in Q3 2023 [11] - The provision for credit losses was $3.5 million in Q3 2024, compared to $1.8 million in Q3 2023 [11] Company Strategy and Development Direction - The company is focusing on expanding its FinTech partnerships and enhancing its payments ecosystem, with expectations of continued double-digit growth in FinTech fees and credit sponsorship [4][8] - Plans for stock buybacks in 2025 have been adjusted to $150 million, down from $250 million in 2024, due to potential debt repayments [6] - The company aims to provide more detailed business segment profitability reporting in future financial disclosures [6] Management's Comments on Operating Environment and Future Outlook - Management believes they are at or near the peak of substandard assets and expects to reduce these balances over the next two quarters [5][23] - The anticipated decrease in interest rates is expected to aid in reducing substandard assets [5] - Preliminary guidance for 2025 is set at $5.25 per share, supported by continued growth in FinTech fees and credit sponsorship [8] Other Important Information - The company is implementing a new methodology for interest expense allocation to better explain profitability [7] - The impact of a recent application glitch resulted in a one-time loss, which management believes will not recur [30] Q&A Session Summary Question: Inquiry about a new partnership in FinTech - Management indicated a strong pipeline and ongoing discussions with new partners but did not announce any specific new partnerships [16][17] Question: Thoughts on 2025 guidance and GDV growth - Management expects GDV growth to remain above 15%, potentially reaching 20% [18][19] Question: Trends in balances moving to permanent financing - Management noted that liquidity is building in the market, but significant movement has not yet been observed [20][21] Question: Credit sponsorship rollout and growth outlook - Management is working with multiple partners and expects significant growth in credit sponsorship balances by the end of next year [24][25] Question: Margin trajectory outlook - Management anticipates stable net interest margins in the high 4% range for 2025, depending on interest rate movements [28][33] Question: Reason for adding to the Rebel reserve - The increase in reserves is a theoretical accounting requirement, despite not expecting actual losses based on current LTVs [35] Question: Update on loans with modifications - Management expects modifications to be peaking and has implemented multiple levels of review to identify problem loans [36][37] Question: Composition of consumer credit FinTech fees - The $1.6 million in fees primarily comes from early access fees for loans, with no current plans for gain on sale revenue [38][39]

Glass Lewis Recognizes the Value Creation and Additional Upside that the Hope Bancorp Merger Provides to Territorial Shareholders Glass Lewis Acknowledges the Substantial Concerns and Risks Posed by Blue Hill’s Secrecy, Lack of Transparency and the Absence of Crucial, Material Information Glass Lewis Agrees with Board’s Decision Not to Consider the Blue Hill Preliminary Indication of Interest a Superior Proposal Territorial Board Urges Shareholders to Follow the Recommendations from Glass Lewis and ISS and ...

For the quarter ended September 2024, The Bancorp (TBBK) reported revenue of $125.84 million, up 8.8% over the same period last year. EPS came in at $1.04, compared to $0.92 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $131.34 million, representing a surprise of -4.19%. The company delivered an EPS surprise of -7.14%, with the consensus EPS estimate being $1.12.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall St ...

The Bancorp (TBBK) came out with quarterly earnings of $1.04 per share, missing the Zacks Consensus Estimate of $1.12 per share. This compares to earnings of $0.92 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -7.14%. A quarter ago, it was expected that this holding company for The Bancorp Bank would post earnings of $1.10 per share when it actually produced earnings of $1.07, delivering a surprise of -2.73%.Over the last fo ...