Northfield Bancorp(NFBK) - 2025 Q1 - Quarterly Results
2025-04-24 20:34
EXHIBIT 99.1 PRESS RELEASE DATED APRIL 23, 2025 Company Contact: William R. Jacobs Chief Financial Officer Tel: (732) 499-7200 ext. 2519 FOR IMMEDIATE RELEASE NORTHFIELD BANCORP, INC. ANNOUNCES FIRST QUARTER 2025 RESULTS NOTABLE ITEMS FOR THE QUARTER INCLUDE: WOODBRIDGE, N.J., APRIL 23, 2025 -- NORTHFIELD BANCORP, INC. (Nasdaq:NFBK) (the "Company"), the holding company for Northfield Bank, reported net income of $7.9 million, or $0.19 per diluted share, for the three months ended March 31, 2025, compared to ...
Heritage merce p(HTBK) - 2025 Q1 - Quarterly Results
2025-04-24 20:34
"We delivered a solid quarter of performance with a 9% increase in our level of profitability from the prior quarter," said Clay Jones, President and Chief Executive Officer. "While our balance sheet trends reflected the seasonally low loan demand and deposit outflows in the first quarter, we generated a higher level of profitability due to improved net interest margin, strong expense control, and an improvement in our asset quality. We also redeployed some of our excess liquidity to purchase new investment ...
Alexander & Baldwin(ALEX) - 2025 Q1 - Quarterly Results
2025-04-24 20:33
Alexander & Baldwin, Inc. Reports First Quarter 2025 Results HONOLULU, (April 24, 2025) /PRNewswire/—Alexander & Baldwin, Inc. (NYSE: ALEX) ("A&B" or "Company"), a Hawai'i- based owner, operator and developer of high-quality commercial real estate in Hawai'i, today announced net income available to A&B common shareholders of $21.4 million, or $0.29 per diluted share, and Commercial Real Estate ("CRE") operating profit of $23.4 million for the first quarter of 2025. Q1 2025 Highlights Lance Parker, president ...
SLM Corporation(SLMBP) - 2025 Q1 - Quarterly Results
2025-04-24 20:33
News Release For Immediate Release Sallie Mae Reports First-Quarter 2025 Financial Results and Reaffirms Full-Year 2025 Guidance NEWARK, Del., April 24, 2025 - Sallie Mae (Nasdaq: SLM), formally SLM Corporation, today released first-quarter 2025 financial results and reaffirmed full-year 2025 guidance. Complete financial results and related materials are available at www.SallieMae.com/investors. The materials will also be available on the Securities and Exchange Commission's website at www.sec.gov. Sallie M ...
Salliemae(SLM) - 2025 Q1 - Quarterly Results
2025-04-24 20:33
Financial Performance - Sallie Mae reported GAAP diluted earnings per common share of $1.40 for Q1 2025, a 10.2% increase from $1.27 in Q1 2024[13]. - Net income for the three months ended March 31, 2025, was $304,540 thousand, an increase of 5.1% compared to $289,931 thousand for the same period in 2024[24]. - Basic earnings per common share increased to $1.43 for the first quarter of 2025, compared to $1.29 for the same period in 2024, representing an increase of 10.8%[24]. - The company expects full-year 2025 GAAP diluted earnings per common share to be in the range of $3.00 to $3.10[9]. Loan Performance - Private education loan originations grew by 7% year-over-year, totaling $655 million to $675 million for the full year 2025 guidance[9]. - The average loans outstanding in the private education loan portfolio increased to $22.9 billion, up 7% from Q1 2024[11]. - Delinquencies as a percentage of loans in repayment increased to 3.58% in Q1 2025, compared to 3.41% in Q1 2024[11]. - The total net charge-offs as a percentage of average loans in repayment decreased to 1.88% in Q1 2025, down from 2.14% in Q1 2024[11]. Income and Expenses - Total interest income for the first quarter of 2025 was $656,090 thousand, slightly down from $663,558 thousand in the same quarter of 2024, a decrease of 1.1%[24]. - Net interest income after provisions for credit losses was $351,684 thousand, down from $374,975 thousand, reflecting a decrease of 6.2% year-over-year[24]. - Total non-interest income rose to $206,044 thousand for the three months ended March 31, 2025, up from $174,158 thousand, an increase of 18.3% year-over-year[24]. - Non-interest expenses for Q1 2025 were reported at $155 million, an increase from $162 million in Q1 2024[13]. Provisions and Credit Losses - Provisions for credit losses increased to $23 million in Q1 2025, compared to $12 million in Q1 2024[11]. - The company reported provisions for credit losses of $23,286 thousand for the first quarter of 2025, compared to $12,041 thousand in the same period of 2024, indicating an increase of 93.5%[24]. Shareholder Returns - The company repurchased 1.0 million shares for $31 million in Q1 2025, with $372 million capacity remaining under the 2024 Share Repurchase Program[7][14]. - Declared dividends per common share increased to $0.13 for the first quarter of 2025, compared to $0.11 in the same period of 2024, reflecting an increase of 18.2%[24]. Balance Sheet - Total assets decreased to $28,899,184 thousand as of March 31, 2025, down from $30,072,110 thousand at December 31, 2024, representing a decline of approximately 3.9%[23]. - Total liabilities decreased to $26,498,328 thousand as of March 31, 2025, from $27,912,190 thousand at December 31, 2024, a reduction of approximately 5.1%[23]. - Deposits decreased to $20,073,168 thousand as of March 31, 2025, down from $21,068,568 thousand at December 31, 2024, a decline of approximately 4.7%[23]. Interest Margin - The net interest margin for Q1 2025 was reported at 5.27%, a decrease of 22 basis points from Q1 2024[13].
CBRE(CBRE) - 2025 Q1 - Quarterly Report
2025-04-24 20:32
Financial Performance - Total revenue for the three months ended March 31, 2025, was $8,910 million, an increase from $7,935 million in the same period of 2024, representing a growth of approximately 12.3%[117]. - Basic income per share attributable to CBRE Group, Inc. stockholders rose to $0.54 for the three months ended March 31, 2025, up from $0.41 in the same period of 2024[104]. - Net income attributable to CBRE Group, Inc. for Q1 2025 was $163 million, up from $126 million in Q1 2024, representing a 29.4% increase[118]. - Total segment operating profit for Q1 2025 was $560 million, significantly higher than $353 million in Q1 2024, marking a 58.7% increase[118]. - Revenue from the United States was $5.17 billion, an increase of 16.9% compared to $4.42 billion in the previous year[119]. Assets and Liabilities - As of March 31, 2025, CBRE MCI funded loans with unpaid principal balances of $46.6 billion, with $43.2 billion subject to loss sharing arrangements under the Fannie Mae DUS Program[89]. - Total leased assets increased to $2,157 million as of March 31, 2025, up from $1,458 million as of December 31, 2024, reflecting a significant growth in operating lease assets[85]. - The company had guarantees totaling $193 million as of March 31, 2025, primarily related to management and vendor contracts in overseas operations[92]. - Indirect tax liabilities amounted to $93 million as of March 31, 2025, reflecting an increase from $91 million as of December 31, 2024[98]. - Aggregate future commitments related to co-investment funds were $183 million as of March 31, 2025, with unfunded capital commitments of $345 million to consolidated projects[99]. Revenue and Expenses - The cost of revenue for the three months ended March 31, 2025, was $7,265 million, compared to $6,475 million for the same period in 2024, indicating an increase of approximately 12.2%[117]. - The company recognized $100 million in revenue from contract liabilities during the three months ended March 31, 2025, which were included in the contract liability balance at December 31, 2024[111]. - Total contract liabilities as of March 31, 2025, were $403 million, up from $375 million as of December 31, 2024, representing an increase of approximately 7.5%[111]. - The provision for income taxes was $52 million for the three months ended March 31, 2025, compared to a benefit of $29 million for the same period in 2024, marking an increase of $81 million[101]. Segment Performance - Segment operating profit for the Advisory Services segment was $301 million for the three months ended March 31, 2025, compared to $232 million for the same period in 2024, reflecting a year-over-year increase of approximately 29.7%[117]. - The company reported net revenue of $1,682 million for the Advisory Services segment for the three months ended March 31, 2025, compared to $1,480 million in the same period of 2024, a growth of approximately 13.6%[117]. Corporate Actions - CBRE Group, Inc. repurchased 3,061,972 shares of common stock at an average price of $132.94 per share for a total of $407 million during the three months ended March 31, 2025[105]. - The company combined its project management business with Turner & Townsend and created a new reportable segment, Project Management, in January 2025[112]. - The company acquired full ownership of Industrious on January 16, 2025, establishing a new business segment focused on flexible workplace solutions[112]. Costs and Remediation - Integration and other costs related to acquisitions amounted to $68 million in Q1 2025, compared to a benefit of $4 million in Q1 2024[118]. - Costs associated with efficiency and cost-reduction initiatives were $13 million in Q1 2025, down from $29 million in Q1 2024[118]. - The estimated liability for Telford Fire Safety Remediation as of March 31, 2025, was approximately $206 million, reflecting a slight increase from $204 million at the end of 2024[120]. - The company is winding down Telford Homes' legacy construction business and transitioning to a new entity, Telford Living, focusing on residential housing development in the UK[118]. - The company continues to assess remediation costs, which are highly complex and dependent on various external factors[121]. Compliance and Regulations - CBRE Group, Inc. emphasizes the importance of compliance with laws and regulations across its global operations, which may impact financial performance[218].
Erie Indemnity(ERIE) - 2025 Q1 - Quarterly Report
2025-04-24 20:32
Portfolio and Asset Management - The company reported no material changes in its portfolio or asset allocations during the three months ended March 31, 2025, despite ongoing geopolitical risks and economic uncertainties[157]. - The company continues to monitor the economic environment and financial markets to minimize potential risk exposure to cash and investment balances[157]. Stock Repurchase Program - The stock repurchase program authorized a total of $150 million with no time limitation, with 4,894 shares repurchased at an average price of $424.35 during the quarter ending March 31, 2025[175]. - The average price paid for shares repurchased in January 2025 was $379.88, while in March 2025, it was $446.47[175]. Legal Proceedings - The company intends to vigorously defend against allegations in ongoing legal proceedings related to fiduciary duty breaches, with the most recent complaint filed in December 2021[161]. - The company has been involved in multiple legal actions regarding management fees, with claims for damages to be determined at trial[162]. - The company filed a Petition for Writ of Certiorari with the Supreme Court of the United States regarding federal jurisdiction, which was denied on February 26, 2024[169]. - The company is awaiting a decision on an appeal related to a preliminary injunction that would prevent further state court proceedings on the same issues[171]. Internal Controls and Disclosure - The Chief Executive Officer and Chief Financial Officer concluded that the company's disclosure controls and procedures are effective as of the end of the reporting period[158]. - There have been no changes in internal control over financial reporting that materially affected the company during the three months ended March 31, 2025[159].
HarborOne Bancorp(HONE) - 2025 Q1 - Quarterly Results
2025-04-24 20:32
Exhibit 99.1 HarborOne Bancorp, Inc. Announces 2025 First Quarter Results Contact: Stephen W. Finocchio, EVP and CFO Brockton, Massachusetts (April 24, 2025): HarborOne Bancorp, Inc. (the "Company" or "HarborOne") (NASDAQ: HONE), the holding company for HarborOne Bank (the "Bank"), announced net income of $5.5 million, or $0.14 per diluted share, for the quarter ended March 31, 2025, a decrease of $3.4 million, or 38.1%, compared to net income of $8.9 million, or $0.21 per diluted share, for the quarter end ...
South Plains Financial(SPFI) - 2025 Q1 - Quarterly Results
2025-04-24 20:30
Exhibit 99.1 South Plains Financial, Inc. Reports First Quarter 2025 Financial Results LUBBOCK, Texas, April 24, 2025 (GLOBE NEWSWIRE) – South Plains Financial, Inc. (NASDAQ:SPFI) ("South Plains" or the "Company"), the parent company of City Bank ("City Bank" or the "Bank"), today reported its financial results for the quarter ended March 31, 2025. First Quarter 2025 Highlights Curtis Griffith, South Plains' Chairman and Chief Executive Officer, commented, "We delivered strong first quarter results highligh ...
munity Health Systems(CYH) - 2025 Q1 - Quarterly Report
2025-04-24 20:30
Financial Performance - Net operating revenues increased from $3.140 billion for the three months ended March 31, 2024, to $3.159 billion for the same period in 2025, representing a growth of approximately 0.6%[110] - The company reported a net income of $25 million for the three months ended March 31, 2025, compared to a net loss of $(6) million for the same period in 2024[111] - Same-store net operating revenues increased by $94 million, or 3.1%, during the three months ended March 31, 2025, compared to the same period in 2024[134] - Net income was 0.8% of net operating revenues for the three months ended March 31, 2025, compared to a net loss of (0.2)% for the same period in 2024[142] - Operating expenses as a percentage of net operating revenues decreased from 92.6% in Q1 2024 to 91.0% in Q1 2025[135] Admissions and Services - Consolidated inpatient admissions decreased by 1.0% for the three months ended March 31, 2025, while same-store inpatient admissions increased by 4.0% during the same period[111] - Inpatient admissions decreased by 1.0% and adjusted admissions decreased by 2.3% during the three months ended March 31, 2025, compared to the same period in 2024[134] - Charity care services accounted for approximately 9.7% of net operating revenues for the three months ended March 31, 2025, compared to 10.1% for the same period in 2024[112] Cash Flow and Investments - Net cash provided by operating activities increased by $24 million to approximately $120 million for the three months ended March 31, 2025[144] - Net cash provided by investing activities was approximately $444 million for the three months ended March 31, 2025, compared to net cash used in investing activities of approximately $99 million for the same period in 2024[145] - Net cash used in financing activities was approximately $170 million for the three months ended March 31, 2025, a change of $183 million compared to net cash provided by financing activities of approximately $13 million for the same period in 2024[146] Debt and Financing - Approximately $29 million of the company's outstanding debt of approximately $11.3 billion is due within the next 12 months[153] - As of March 31, 2025, outstanding borrowings under the ABL Facility were $200 million, with approximately $651 million of additional borrowing capacity available[149] - The provision for income taxes increased to $42 million for the three months ended March 31, 2025, compared to $28 million for the same period in 2024[141] Divestitures and Acquisitions - The company divested two hospitals in Florida and sold a 50% ownership interest in a hospital in Mississippi, which represented annual net operating revenues of approximately $359 million in 2024, receiving total net proceeds of approximately $276 million[105] - The company completed the sale of Lake Norman Regional Medical Center for approximately $284 million on March 31, 2025[107] - The company has entered into definitive agreements to sell its 50% interest in Merit Health Madison and an 80% interest in Cedar Park Regional Medical Center for a total purchase price of $460 million, subject to adjustments[108] - The company is considering divesting additional hospitals and non-hospital businesses that are less complementary to its business strategy[109] Risks and Challenges - The company faces significant risks and uncertainties that may cause actual results to differ materially from forward-looking statements, including economic conditions, regulatory changes, and geopolitical instability[190] - The company is impacted by high interest rates and inflationary pressures, which could affect its financial performance and operational costs[190] - Changes in healthcare public policy and funding for Medicare and Medicaid programs could significantly affect the company's operations and revenue[190] - The company is experiencing challenges in hiring and retaining qualified medical personnel, leading to increased labor expenses due to competitive market conditions[192] - Ongoing economic conditions, including inflationary pressures and elevated interest rates, may negatively affect the company's liquidity in the future[154] Accounts Receivable and Collections - Patient accounts receivable from hospitals represent approximately 98% of total consolidated accounts receivable, with days revenue outstanding at 56 days as of March 31, 2025[170] - The company expects to collect less than 4% of the amounts being pursued by outside collection agencies, which totaled approximately $1.5 billion at March 31, 2025[168] - Total gross accounts receivable was approximately $17.5 billion as of March 31, 2025, compared to $17.3 billion as of December 31, 2024[171] - Insured receivables accounted for 73.3% of total gross accounts receivable as of March 31, 2025, up from 72.4% as of December 31, 2024[172] - The estimated implicit price concessions for self-pay accounts receivable were approximately 90% at both March 31, 2025, and December 31, 2024[172] Technology and Integration - The company is focused on integrating acquired hospitals and outpatient facilities to realize expected benefits, including growth in patient service revenues[192] - The company is exploring the development and adoption of emerging technologies, including artificial intelligence and machine learning, to enhance its services[192] Regulatory and Compliance - The company is subject to risks associated with cybersecurity threats and data privacy compliance, which could impact its operations[192] - The company is evaluating the impact of ASU 2023-09 on its consolidated financial statements, effective for annual periods beginning after December 15, 2024[187] Goodwill and Tax Positions - Goodwill recorded was approximately $3.8 billion as of March 31, 2025, with no impairment identified during the last evaluation[173] - The total amount of unrecognized tax benefits that would impact the effective tax rate, if recognized, was $43 million at March 31, 2025[185] - A total of $6 million of interest and penalties is included in the liability for uncertain tax positions at March 31, 2025[185]