NEW YORK, April 23, 2025 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a lawsuit has been filed against The Bancorp, Inc. (NASDAQ: TBBK) and certain of the Company’s senior executives for potential violations of the federal securities laws. If you invested in Bancorp, you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases-investigations/the-bancorp-inc. Investors have until May 16, 2025, to ask the Court to be appointed to lea ...

Shares of East West Bancorp, Inc. (EWBC) rose 3.5% in the after-market trading session on better-than-expected quarterly results. Its first-quarter 2025 adjusted earnings per share (EPS) of $2.09 beat the Zacks Consensus Estimate of $2.05. Moreover, the bottom line increased marginally from the prior-year quarter’s level.The results were primarily aided by an increase in net interest income (NII) and non-interest income. Also, loan balances increased sequentially in the quarter. However, higher provisions a ...

NEEDHAM, Mass., April 22, 2025 /PRNewswire/ -- NB Bancorp, Inc. (the "Company") (Nasdaq Capital Market: NBBK), the holding company of Needham Bank (the "Bank"), today announced its first quarter 2025 financial results. The Company reported net income of $12.7 million, or $0.33 per diluted common share, compared to net income of $15.6 million, or $0.40 per diluted common share, for the prior quarter. Operating net income, excluding one-time charges, amounted to $13.7 million, or $0.35 per diluted common shar ...

Core Insights - West Coast Community Bancorp reported unaudited quarterly earnings of $11.7 million, or $1.10 per dilutive share, for Q1 2025, a significant increase from $3.8 million in the previous quarter and $9.3 million in Q1 2024 [1][3][6] - The increase in earnings was attributed to the efficient integration of the merger with 1st Capital Bancorp, organic loan growth, and disciplined expense management [2][3] - The company declared a quarterly cash dividend of $0.20 per common share, reflecting a commitment to enhancing shareholder value [2][3] Financial Performance - Adjusted net income for Q1 2025, excluding merger-related charges, would have been $12.0 million, compared to $14.0 million in Q4 2024 [1][3] - Gross loans totaled $2.1 billion, an increase of $60 million (3%) from Q4 2024 and $726.5 million (53%) from Q1 2024, driven by organic growth and the merger [3][17] - Total assets were $2.7 billion, a decrease of $22.2 million (1%) from Q4 2024 but an increase of $945.6 million (55%) from Q1 2024 [3][4] Loan and Deposit Trends - The bank's loan growth was primarily driven by new originations in Silicon Valley, contributing to commercial and industrial loans and construction loans [3][17] - Deposits totaled $2.3 billion, a decrease of $54.2 million (2%) from Q4 2024 but an increase of $800.3 million (55%) from Q1 2024, influenced by seasonal outflows in the agricultural sector [4][22] - Nonaccrual loans increased to $2.3 million (0.11% of gross loans), reflecting two real estate secured loans [4][19] Capital and Liquidity - Total shareholders' equity increased to $345.7 million, a rise of $12.7 million (4%) from Q4 2024 and $107.6 million (45%) from Q1 2024 [26] - The primary liquidity ratio was 11.8% as of March 31, 2025, compared to 14.5% at the end of 2024 [4] - The allowance for credit losses was $33.1 million (1.57% of total loans), reflecting a slight increase due to strong loan growth [4][20] Efficiency and Profitability Metrics - The efficiency ratio improved to 46.48% in Q1 2025 from 61.62% in the previous quarter [4] - Return on average assets (ROAA) was 1.78% for Q1 2025, up from 0.57% in Q4 2024 [4] - Taxable equivalent net interest margin was 5.29% in Q1 2025, compared to 5.38% in Q4 2024 [4][8]

Group 1 - Zions Bancorp reported first-quarter revenue of $795 million, missing analyst estimates of $797.07 million, and earnings of $1.13 per share, below the expected $1.17 per share [1][2] - The company's credit quality remained stable, with nonperforming assets at 0.51% of loans and leases and annualized net charge-offs at 0.11% [2] - The outlook for the economy is uncertain, influenced by potential negative impacts from tariffs and trade policy [2] Group 2 - Zions Bancorp shares fell 1.5% to close at $43.62 following the earnings announcement [3] - Analysts adjusted their price targets for Zions Bancorp, with Stephens & Co. lowering it from $54 to $52, Baird from $58 to $55, and Wells Fargo from $58 to $47 [7]

KNOXVILLE, Tenn., April 21, 2025 /PRNewswire/ -- Mountain Commerce Bancorp, Inc. (the "Company") (OTCQX: MCBI), the holding company for century-old Mountain Commerce Bank (the "Bank"), today announced financial results and related data as of and for the three months ended March 31, 2025. The Company also announced today that its Board of Directors declared a quarterly cash dividend of $0.07 per common share, its eighteenth consecutive quarterly dividend, and a 40% increase from the prior quarter. The divide ...

Core Viewpoint - The Bancorp, Inc. has faced escalating investor concerns due to the belated filing of its amended annual report, which disclosed previously omitted crucial information and highlighted issues related to asset quality, leading to a securities class action suit against the company [1][4]. Financial Disclosures - On April 7, 2025, Bancorp filed an amended annual report on Form 10-K/A, revising its financial statements and disclosures from the previous month [3]. - The amended filing indicated that the original annual report filed on March 3, 2025, should no longer be relied upon due to significant discrepancies in financial reporting [3]. - The company revealed that neither its former auditor, Grant Thornton LLP, nor its current auditor, Crowe LLP, had provided final approval for the inclusion of their audit opinions in the report [3]. Legal Actions - A securities class action suit, Linden v. The Bancorp, Inc., was filed, representing investors who purchased Bancorp securities between January 25, 2024, and March 4, 2025, alleging false and misleading statements by the company [2][4]. - The suit was triggered by Bancorp's March 4 disclosure, which raised concerns about the company's financial practices and asset quality [4]. Asset Quality Concerns - A report by short-seller Culper Research on March 21, 2024, accused Bancorp of misrepresenting the quality of its real estate bridge loan portfolio and under-reserving for potential loan losses [4]. - Bancorp's Q3 2024 financial results were disappointing, with a provision for credit losses for consumer fintech loans revised from $19.6 million to $30.7 million in the amended report [5]. - The amended report also stated that the company's internal control over financial reporting was not effective, contradicting earlier claims [5]. Internal Control and Compliance Issues - The company underrepresented the significant risk of default or loss on its real estate bridge loan portfolio and had an insufficient current expected credit loss methodology [6]. - There were material weaknesses identified in its internal control over financial reporting, leading to the conclusion that its financial statements could not be relied upon by investors [6].

NEW YORK, April 21, 2025 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a lawsuit has been filed against The Bancorp, Inc. (NASDAQ: TBBK) and certain of the Company’s senior executives for potential violations of the federal securities laws. If you invested in Bancorp, you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases-investigations/the-bancorp-inc. Investors have until May 16, 2025, to ask the Court to be appointed to lea ...

Zions Bancorporation, National Association ZION will release earnings results for the first quarter, after the closing bell on Monday, April 21.Analysts expect the Salt Lake City, Utah-based company to report quarterly earnings at $1.18 per share, up from 96 cents per share in the year-ago period. Zions Bancorporation projects to report quarterly revenue at $794.82 million, compared to $752 million a year earlier, according to data from Benzinga Pro.On Jan. 21, Zions Bancorp posted better-than-expected four ...

Core Viewpoint - A securities class action lawsuit has been filed against The Bancorp, Inc. for allegedly misleading investors regarding the risks associated with its real estate bridge loans portfolio and financial reporting practices [1][3]. Group 1: Lawsuit Details - The lawsuit was filed in the United States District Court for the District of Delaware on behalf of investors who acquired Bancorp securities between January 25, 2024, and March 4, 2025 [1]. - The deadline for investors to seek lead plaintiff status is May 16, 2025 [4]. Group 2: Allegations Against Bancorp - The complaint alleges that Bancorp underrepresented the risk of default on its real estate bridge loans portfolio [3]. - It claims that Bancorp's credit loss methodology was inadequate, leading to a likely increase in provisions for credit losses [3]. - The lawsuit also states that there were material weaknesses in Bancorp's internal controls over financial reporting and that its financial statements lacked independent auditor approval [3]. - As a result of these issues, the positive statements made by Bancorp regarding its business and prospects were deemed materially misleading [3]. Group 3: Legal Representation - Investors can choose to be represented by Kessler Topaz Meltzer & Check, LLP or other counsel, or remain absent from the class [4]. - The lead plaintiff will represent the interests of all class members and select counsel for the case [4]. Group 4: Firm Background - Kessler Topaz Meltzer & Check, LLP has a reputation for prosecuting class actions and has recovered billions for victims of corporate misconduct [5].