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Bogota Financial Corp. Reports Results for the Three Months Ended March 31, 2025

GlobeNewswire· 2025-04-30 20:10

Core Viewpoint - Bogota Financial Corp. reported a net income of $731,000 for Q1 2025, a significant improvement from a net loss of $441,000 in Q1 2024, driven by reduced deposit costs and increased yields on loans and securities [1][5][16]. Financial Performance - Net income increased by $1.2 million to $731,000 for the three months ended March 31, 2025, compared to a net loss of $441,000 for the same period in 2024 [5]. - Net interest income rose by $942,000, or 35.5%, to $3.6 million, reflecting a 44 basis point increase in the net interest rate spread to 1.12% [14]. - Non-interest income surged by $590,000, or 197.4%, to $889,000, primarily due to a significant increase in bank-owned life insurance income [16]. Balance Sheet Highlights - Total assets decreased by $41.3 million, or 4.3%, to $930.2 million as of March 31, 2025, primarily due to reductions in cash and cash equivalents, loans, and securities [19]. - Total liabilities decreased by $42.3 million, or 5.1%, to $791.9 million, mainly due to a reduction in borrowings and total deposits [21]. - Total stockholders' equity increased by $965,000 to $138.3 million, supported by net income and a decrease in accumulated other comprehensive loss [22]. Loan and Deposit Analysis - Net loans decreased by $10.2 million, or 1.4%, to $701.5 million, attributed to declines in residential and construction loans [19]. - Total deposits were $633.0 million, down $9.2 million, or 1.4%, with a notable decrease in interest-bearing deposits [19][21]. - The average cost of deposits increased by 13 basis points to 3.55% for Q1 2025 from 3.42% in Q4 2024 [19]. Interest Income and Expense - Interest income increased by $862,000, or 8.6%, to $10.9 million, driven by higher yields on interest-earning assets [6]. - Interest expense decreased by $80,000, or 1.1%, to $7.3 million, due to lower average balances on certificates of deposits [11]. - The average yield on loans increased by 27 basis points to 4.88%, while the average yield on securities rose by 138 basis points to 5.05% [9][10]. Credit Quality - The company recorded a recovery for credit losses of $80,000 compared to a provision for credit losses of $35,000 in the prior year [15]. - Delinquent loans decreased to $13.5 million, or 1.92% of total loans, down from 2.01% at the end of 2024 [20].

Bogota Financial (BSBK)

Enact Announces 14% Increase to Quarterly Dividend and New $350 Million Share Repurchase Program

GlobeNewswire· 2025-04-30 20:10

Core Points - Enact Holdings, Inc. declared a quarterly dividend of $0.21 per common share, marking a 14% increase from the previous quarter [1] - The company authorized a new share repurchase program allowing for the purchase of up to $350 million of its common stock, in addition to the remaining $6 million from the existing $250 million program [2][3] - The CEO emphasized the commitment to shareholder value through the increased dividend and share repurchase program, highlighting a consistent annual dividend increase since inception [3] Dividend and Share Repurchase - The new quarterly dividend will be payable on June 11, 2025, to shareholders of record on May 19, 2025 [1] - The share repurchase program will utilize various methods, including open market purchases and privately negotiated transactions, and may be executed under specific trading plans [3] - The timing and amount of share repurchases will be opportunistic, influenced by factors such as share price and market conditions [4] Company Overview - Enact Holdings, Inc. operates primarily through its subsidiary, Enact Mortgage Insurance Corporation, and is a leading private mortgage insurance provider in the U.S. [5] - The company aims to support homeownership by partnering with lenders to provide exceptional service and risk management [5]

Enact (ACT)

National Bank Holdings Corporation Announces 3.4% Increase to Quarterly Dividend

GlobeNewswire· 2025-04-30 20:10

Core Points - National Bank Holdings Corporation announced a quarterly cash dividend increase of 3.4% from $0.29 to $0.30 per share, payable on June 13, 2025 [1] - Over the past five years, the quarterly dividend per common share has increased by 50%, reflecting the company's strong balance sheet and commitment to shareholder returns [2] Company Overview - National Bank Holdings Corporation is a bank holding company focused on building a community bank franchise with high-quality client service and stakeholder results [3] - The company operates over 85 banking centers across Colorado, Kansas City, Utah, Wyoming, Texas, New Mexico, and Idaho, serving various customer segments including individuals, businesses, and government entities [3] - Its banking operations include multiple brand names under NBH Bank, such as Community Banks of Colorado, Bank Midwest, and Hillcrest Bank, among others [3]

National Bank (NBHC)

Westwood Holdings Group, Inc. Reports First Quarter 2025 Results

GlobeNewswire· 2025-04-30 20:10

Core Insights - Westwood Holdings Group, Inc. reported strong performance in Q1 2025, with significant achievements in both Institutional and Intermediary channels, including a nearly $1 billion sub-advisory mandate in Small Cap Value strategy and the best sales quarter since 2022 in the Intermediary channel [2][3] - The company launched the LBRTY Global Equity ETF and celebrated the one-year anniversary of the MDST ETF, which has an annualized distribution rate of 10.5% [1][2] - Firmwide assets under management (AUM) totaled $18.0 billion, comprising $17.0 billion in AUM and $1.0 billion in assets under advisement (AUA) [3] Financial Performance - Quarterly revenues were $23.3 million, down from $25.6 million in the previous quarter but up from $22.7 million a year ago [7] - Net income for Q1 2025 was $0.5 million, a decrease from $2.1 million in Q4 2024 and $2.3 million in Q1 2024 [4][5] - Diluted earnings per share (EPS) were $0.05 compared to $0.24 in Q4 2024 and $0.27 in Q1 2024 [4][5] Economic Earnings - Non-GAAP Economic Earnings for Q1 2025 were $2.5 million, or $0.29 per share, compared to $3.4 million, or $0.39 per share in Q4 2024, and $3.0 million, or $0.36 per share in Q1 2024 [4][5][7] - The company declared a cash dividend of $0.15 per common share, payable on July 1, 2025 [7] Balance Sheet and Cash Flow - As of March 31, 2025, total assets were $134.988 million, down from $149.989 million at the end of Q4 2024 [14] - Cash and cash equivalents decreased to $9.418 million from $18.847 million in the previous quarter [15] - Stockholders' equity totaled $119.3 million, with no debt reported [7][14]