GOUVERNEUR, N.Y., Feb. 03, 2025 (GLOBE NEWSWIRE) -- Gouverneur Bancorp, Inc. (OTCQB Marketplace: GOVB) (the “Company”), the holding company for Gouverneur Savings and Loan Association, announced today that the two leading proxy advisory firms, Institutional Shareholder Services, Inc. (“ISS”) and Glass Lewis & Co. (“Glass Lewis”), have both recommended that Company stockholders vote “FOR” the Gouverneur Bancorp, Inc. 2025 Equity Incentive Plan at the Company’s annual meeting of stockholders to be held on Feb ...

Fourth quarter results include EPS of $0.69, deposit growth, commercial loan growth, a gain on the sale of its insurance agency, and strong contributions from new and established Pathfinder Bank teams across Central New York OSWEGO, N.Y., Jan. 31, 2025 (GLOBE NEWSWIRE) -- Pathfinder Bancorp, Inc. (“Pathfinder” or the “Company”) (NASDAQ: PBHC) announced its financial results for the fourth quarter and year ended December 31, 2024. The holding company for Pathfinder Bank (“the Bank”) earned net income attri ...

Timberland Bancorp, Inc. (NASDAQ: TSBK ) is a small regional/local bank based in Washington State . The balance sheet contains less than $2B in assets, but the small size of the bank also means it can keepHe is the leader of the investment group European Small Cap Ideas which offers exclusive access to actionable research on appealing Europe-focused investment opportunities not found elsewhere. The a focus is on high-quality ideas in the small-cap space, with emphasis on capital gains and dividend income fo ...

Core Insights - CW Bancorp reported a consolidated net income of $3,940,000 for Q4 2024, representing an increase of 11% compared to $3,545,000 in Q4 2023, with diluted EPS rising 16% from $1.13 to $1.30 [1][12][17] - For the full year 2024, consolidated net income was $13,148,000, down 25% from $17,611,000 in 2023, with EPS decreasing from $5.39 to $4.30, a decline of 20% [1][12][17] Financial Performance - Q4 2024 saw a 26% quarter-over-quarter net income growth and an 11% year-over-year growth [3][12] - Total assets increased by $188.6 million or 14.5% year-over-year, reaching $1,490,352,000 as of December 31, 2024 [3][16] - Total loans grew by $68.6 million or 9.5% year-over-year, totaling $793,075,000 [3][16] - Total deposits increased by $183.9 million or 16% year-over-year, amounting to $1,342,421,000 [4][16] Income and Expenses - Interest income for Q4 2024 was $14,750,000, up 14% from $12,964,000 in Q4 2023, while interest expense rose by 17% to $3,714,000 [5][18] - For the full year, interest income increased by 4% to $54,190,000, while interest expense surged by 24% to $14,241,000 [6][18] - Net interest income for Q4 2024 was $11,036,000, a 13% increase from $9,797,000 in Q4 2023, but decreased by 2% for the full year to $39,949,000 [7][18] Non-Interest Income and Expenses - Non-interest income for Q4 2024 was $2,011,000, a 30% increase from $1,549,000 in Q4 2023, while for the full year, it decreased by 3% to $6,166,000 [9][10] - Non-interest expenses for Q4 2024 rose by 20% to $7,617,000 compared to $6,367,000 in Q4 2023, and increased by 15% for the full year to $27,798,000 [10][18] Efficiency and Capital Ratios - The efficiency ratio for Q4 2024 was 58.12%, up from 55.82% in Q4 2023, indicating increased costs relative to income [11][18] - As of December 31, 2024, the tier 1 leverage ratio was 11.16%, and the total risk-based capital ratio was 17.92%, both above the levels required for a "well capitalized" institution [13][16]

Core Insights - The Bancorp reported revenue of $148.57 million for Q4 2024, a year-over-year increase of 24.7% [1] - The earnings per share (EPS) for the same period was $1.15, up from $0.95 a year ago, representing a surprise of +1.77% over the consensus estimate of $1.13 [1] - The reported revenue exceeded the Zacks Consensus Estimate by +12.76% [1] Financial Performance Metrics - Efficiency Ratio stood at 40%, slightly better than the average estimate of 40.6% from two analysts [4] - Net Interest Margin was reported at 4.6%, below the estimated 4.8% [4] - Average Interest-Earning Assets were $8.29 billion, surpassing the estimated $8.01 billion [4] - Total Non-Interest Income reached $54.27 million, significantly higher than the estimated $35.72 million [4] - Net Interest Income was $94.30 million, slightly below the average estimate of $96.10 million [4] Stock Performance - Shares of The Bancorp have returned +5.2% over the past month, outperforming the Zacks S&P 500 composite's +1.2% change [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]

Core Viewpoint - The Bancorp (TBBK) reported quarterly earnings of $1.15 per share, exceeding the Zacks Consensus Estimate of $1.13 per share, and showing an increase from $0.95 per share a year ago, indicating a positive earnings surprise of 1.77% [1] Financial Performance - The Bancorp posted revenues of $148.57 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 12.76%, compared to $119.15 million in the same quarter last year [2] - Over the last four quarters, the company has only surpassed consensus EPS estimates once [2] Stock Performance - The Bancorp shares have increased approximately 5.2% since the beginning of the year, outperforming the S&P 500's gain of 2.7% [3] Future Outlook - The company's earnings outlook is crucial for investors, including current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The current consensus EPS estimate for the next quarter is $1.20 on revenues of $136.78 million, and for the current fiscal year, it is $5.29 on revenues of $575.86 million [7] Industry Context - The Zacks Industry Rank for Banks - Northeast is currently in the top 6% of over 250 Zacks industries, indicating a favorable environment for the sector [8]

Core Points - Riverview Bancorp reported earnings of $1.2 million, or $0.06 per diluted share, for the third fiscal quarter ended December 31, 2024, a decrease from $1.6 million, or $0.07 per diluted share, in the previous quarter and $1.5 million, or $0.07 per diluted share, in the same quarter last year [1][2] - For the first nine months of fiscal 2025, net income was $3.8 million, or $0.18 per diluted share, compared to $6.8 million, or $0.32 per diluted share, in the same period of fiscal 2024 [2] Income Statement Review - Net interest income for the current quarter was $9.4 million, up from $8.9 million in the preceding quarter and $9.3 million in the same quarter last year [5][8] - The net interest margin (NIM) improved to 2.60% for the third quarter, a 14 basis point increase from the previous quarter and an 11 basis point increase from the same quarter last year [6][8] - Non-interest income was $3.3 million during the third fiscal quarter, down from $3.8 million in the preceding quarter but up from $3.1 million in the same quarter last year [11] Balance Sheet Review - Total loans decreased by $15.9 million to $1.05 billion at December 31, 2024, compared to $1.06 billion three months earlier, but increased by $26.9 million compared to a year earlier [15] - Total deposits decreased by $18.5 million to $1.22 billion at December 31, 2024, compared to $1.24 billion at September 30, 2024, and remained unchanged compared to a year ago [18] - Shareholders' equity was $158.3 million at December 31, 2024, down from $160.8 million three months earlier but nearly unchanged from $158.5 million a year earlier [20] Credit Quality - Non-performing loans totaled $168,000, or 0.02% of total loans, as of December 31, 2024, compared to $149,000, or 0.01% of total loans at September 30, 2024 [21] - Riverview recorded $114,000 in net loan charge-offs for the current quarter, compared to $2,000 in net loan recoveries for the preceding quarter [22] Capital/Liquidity - Riverview maintained a total risk-based capital ratio of 16.47% and a Tier 1 leverage ratio of 10.86% at December 31, 2024, well above regulatory requirements [25][26] - The company had approximately $450.1 million in available liquidity at December 31, 2024, including $164.4 million of borrowing capacity from the FHLB [26][27] Stock Repurchase Program - The Board of Directors adopted a stock repurchase program allowing the company to repurchase up to $2.0 million of its outstanding shares, with 200,073 shares repurchased at an average price of $5.43 during the third quarter [28]

Core Insights - S&T Bancorp, Inc. reported a net income of $33.1 million for Q4 2024, an increase from $32.6 million in Q3 2024 but a decrease from $37.0 million in Q4 2023 [1][2] - For the full year 2024, net income was $131.3 million, down from $144.8 million in 2023, with earnings per diluted share (EPS) at $3.41 compared to $3.74 in 2023 [2][13] Fourth Quarter 2024 Highlights - Net interest income for Q4 2024 was $83.3 million, a slight decrease from $84.5 million in Q3 2024, attributed to lower interest income on loans due to declining interest rates [6] - The net interest margin (NIM) on a fully taxable equivalent basis (FTE) was 3.77%, down from 3.82% in the previous quarter [7] - Total portfolio loans increased by $53.9 million, or 2.79% annualized, while total deposits rose by $128.3 million [7][11] - Nonperforming assets remained low at $27.9 million, or 0.36% of total loans plus other real estate owned (OREO) [9] Full Year 2024 Highlights - Total interest income for 2024 was $515.9 million, while total interest expense increased to $181.1 million, resulting in a net interest income of $334.8 million [14][29] - Noninterest income decreased to $49.1 million from $57.6 million in 2023, primarily due to realized losses from repositioning securities [15] - Noninterest expense increased to $218.9 million, driven by higher salaries and employee benefits [16][29] - The provision for credit losses was only $0.1 million compared to $17.9 million in 2023, indicating significant improvement in asset quality [18] Financial Condition - Total assets as of December 31, 2024, were $9.7 billion, up from $9.6 billion at the end of Q3 2024 [11] - The allowance for credit losses was $101.5 million, or 1.31% of total portfolio loans, down from 1.41% at the end of 2023 [18][30] - S&T maintained a strong regulatory capital position with all capital ratios above the well-capitalized thresholds [12] Dividend Information - The Board of Directors approved a cash dividend of $0.34 per share, an increase of 3.03% from the previous year [19]

Core Points - S&T Bancorp, Inc. has approved a cash dividend of $0.34 per share, marking an increase of $0.01 or 3.03% from the previous year's dividend of $0.33 [1] - The annualized yield based on the closing price of $38.16 on January 28, 2025, is 3.56% [1] - The dividend will be payable on February 27, 2025, to shareholders of record on February 13, 2025 [1] Company Overview - S&T Bancorp, Inc. is a bank holding company with total assets of $9.6 billion, headquartered in Indiana, Pennsylvania, and trades on NASDAQ under the symbol STBA [2] - The principal subsidiary, S&T Bank, was established in 1902 and operates in Pennsylvania and Ohio [2]

Core Viewpoint - First Bancorp reported a significant decline in net income for the fourth quarter of 2024, primarily due to a substantial securities loss and the impact of Hurricane Helene, while adjusted net income showed improvement compared to the previous quarter. Financial Performance - The company reported net income of $3.6 million, or $0.08 diluted EPS, for Q4 2024, down from $18.7 million, or $0.45 diluted EPS, in Q3 2024, and $29.7 million, or $0.72 diluted EPS, in Q4 2023 [1] - For the full year 2024, net income was $76.2 million, or $1.84 diluted EPS, compared to $104.1 million, or $2.53 diluted EPS, in 2023 [1] - Adjusted net income for Q4 2024 was $31.7 million, or $0.76 adjusted diluted EPS, up from $29.0 million, or $0.70 adjusted diluted EPS, in Q3 2024 [2] Net Interest Income and Margin - Net interest income for Q4 2024 was $88.8 million, an increase of 7.0% from Q3 2024 and 7.6% from Q4 2023 [5] - The tax-equivalent net interest margin (NIM) increased to 3.07% for Q4 2024, up from 2.90% in Q3 2024 [6][8] - The increase in net interest income was attributed to higher yields on the securities portfolio and effective management of deposit costs [5] Securities Loss and Transactions - The company executed a securities loss-earnback transaction, selling $280 million of available-for-sale securities at a loss of approximately $36.8 million [2] - The transaction aimed to capitalize on current yields, resulting in an increase in the yield on the securities portfolio by 25 basis points [8] Credit Quality - The nonperforming assets (NPA) to total assets ratio was 0.39% as of December 31, 2024, reflecting strong credit quality [15] - The company recorded net charge-offs of $0.9 million, an annualized 0.04% of average loans [15] Balance Sheet and Capital - Total assets amounted to $12.1 billion as of December 31, 2024, a slight decrease from the linked quarter [24] - The common equity tier 1 ratio was estimated at 14.33%, and the total risk-based capital ratio was 16.61%, both above regulatory minimums [32][34] - Total loans were $8.1 billion, reflecting a growth of $81.1 million, or 4.03%, from the previous quarter [27] Noninterest Income and Expenses - Total noninterest income for Q4 2024 was negative $23.2 million, primarily due to the securities loss [18] - Noninterest expenses decreased to $58.3 million, down from $59.9 million in the linked quarter, driven by a reduction in personnel expenses [19] Income Taxes - Income tax expense for Q4 2024 was $3.3 million, with an effective tax rate of 48.4%, influenced by incremental state tax-related expenses [21][23]