The reason for those dividend cuts, meanwhile, is twofold. First, the company expanded via acquisition but wasn't really ready to handle that growth from a regulatory perspective. Second, rising interest rates resulted in an increase in troubled loans right as the company was facing greater regulatory scrutiny. Basically, the company had to hit the reset button as it became a more important bank. That included the urgent need to shore up its balance sheet (thus the dividend cut), necessary upgrades in its i ...

sommart In my last article on East West Bancorp (NASDAQ:EWBC) I highlighted the potential for dividend growth and the fact that this bank was undervalued on a Price/ TBV per share basis. Six months later, although the stock has appreciated by 16%, I believe it is still slightly undervalued. In addition, the dividend growth potential remains high and management is continuing the buyback. After all, EWBC is one of the most capitalized banks in the industry and has ample room to remunerate its shareholders. Lo ...

OLNEY, Md., May 23, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of Sandy Spring Bancorp, Inc. (Nasdaq-SASR), today announced the appointment of Charles S. Cullum to Chief Financial Officer. Cullum was promoted from Deputy Chief Financial Officer and Treasurer. Philip J. Mantua, the outgoing Chief Financial Officer, who previously announced his retirement, will continue with the Company until the end of the year to support the leadership transition. "Charlie has played a central role in the financial man ...

WESTFIELD, Mass., May 22, 2024 (GLOBE NEWSWIRE) -- Western New England Bancorp, Inc. (the "Company" or "WNEB") (NasdaqGS: WNEB), the holding company for Westfield Bank (the "Bank"), announced that on May 21, 2024, the Board of Directors authorized a new stock repurchase plan ("2024 Plan"), pursuant to which the Company may repurchase up to 1.0 million shares, or approximately 4.6%, of the Company's outstanding shares of common stock, upon the completion of the 2022 Plan. The Company may repurchase shares fr ...

Forward Looking Statements This earnings release may contain forward-looking statements. Forward-looking statements provide current expectations or forecasts of future events and are not guarantees of future performance, nor should they be relied upon as representing management's views as of any subsequent date. The forward-looking statements are based on managements' expectations and are subject to a number of risks and uncertainties. Although management believes that the expectations reflected in such for ...

Contact: T. Clay Stinnett Executive Vice President, Treasurer and Chief Financial Officer (502) 625-0890 Louisville, Kentucky-based Stock Yards Bancorp, Inc., with $8.12 billion in assets, was incorporated in 1988 as a bank holding company. It is the parent company of Stock Yards Bank & Trust Company, which was established in 1904. The Company's common shares trade on The NASDAQ Stock Market under the symbol "SYBT." For more information about Stock Yards Bancorp, visit the Company's website at www.syb.com. ...

The bank posted mixed results in the first quarter of 2024, with earnings beating the estimates but revenues missing the mark. It reported total revenues of $6.72 billion – down 6% y-o-y, primarily due to a 14% drop in the net interest income, partially offset by an 8% rise in the noninterest revenues. The NII mainly suffered because of a decline in total loans and higher interest rates on deposit mix and pricing. On the cost front, provisions for credit losses rose by 30% y-o-y to $553 million. Further, no ...

NORWICH, N.Y., May 21, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of NBT Bancorp Inc. ("NBT" or the "Company") (NASDAQ: NBTB) approved a second-quarter cash dividend of $0.32 per share at a meeting held today. The dividend will be paid on June 17, 2024 to shareholders of record as of June 3, 2024. Contact: Scott A. Kingsley, President and CEO Annette L. Burns, Executive Vice President and CFO NBT Bancorp Inc. 52 South Broad Street Norwich, NY 13815 607-337-6589 Corporate Overview NBT Bancorp Inc. is a ...

NORWICH, N.Y., May 21, 2024 (GLOBE NEWSWIRE) -- NBT Bancorp Inc. ("NBT" or the "Company") (NASDAQ: NBTB) announced that its CEO Succession Plan unanimously approved by NBT's Board of Directors in January was executed today with Scott A. Kingsley succeeding John H. Watt, Jr. as NBT's fifteenth President and Chief Executive Officer. Kingsley was also elected to NBT's Board of Directors. Watt will continue to serve on the Board and has been named Vice Chairman. NBT also announced the promotion of Joseph R. Sta ...

As part of F&M's comprehensive succession plan, on May 3, 2024, the Company announced the appointment of Andrew Briggs as Chairman of the Board of both the Company and the Bank. Kevin Sauder will continue to serve as Vice Chairman of the Boards of Farmers & Merchants Bancorp, Inc. and F&M Bank. About F&M Bank: F&M Bank is a local independent community bank that has been serving its communities since 1897. F&M Bank provides commercial banking, retail banking and other financial services. Our locations are in ...