EMERYVILLE, Calif., Feb. 12, 2026 (GLOBE NEWSWIRE) -- NMI Holdings, Inc., (Nasdaq: NMIH), the parent company of National Mortgage Insurance Corporation (National MI), announced today that Renu Agrawal has been appointed as an independent member of its Board of Directors, effective immediately. National MI’s Board increases to ten members with Ms. Agrawal’s appointment. “We are delighted to welcome Renu to National MI’s Board,” said Bradley Shuster, Executive Chairman and Chairman of the Board of National MI ...

Core Viewpoint - First Interstate BancSystem is undergoing significant restructuring, including branch divestitures and a focus on improving core profitability while consolidating its operational footprint from 14 states to 10 contiguous states [1][7][4]. Branch Closures and Sales - The company plans to close its branches in North Dakota and Minnesota in the first quarter, following the sale of branches in Arizona and Kansas in the fourth quarter of 2025 [1][2]. - First Interstate announced the sale of 11 branches in Nebraska, expected to close early in the second quarter of 2026, and will consolidate four additional branches in Nebraska [2][7]. Financial Performance - In the fourth quarter, net income rose to $108.8 million, aided by a $62.7 million gain from the sale of branches in Arizona and Kansas [6][10]. - Net interest income was reported at $206.4 million, a slight decrease of 0.2% from the prior quarter, and net interest margin improved to 3.38% [11][12]. Capital Management - The company prioritized capital return, repurchasing approximately $118 million of stock in 2025 and authorizing an additional $150 million for buybacks, totaling $300 million [5][17]. - Tangible book value per share increased by 2.9% to $22.40, with a declared dividend of $0.47 per share, reflecting a 5.7% annualized yield [18]. Credit Quality and Balance Sheet - Credit quality showed improvement, with criticized loans declining by $112.3 million (9.6%) and non-performing assets falling by $47.3 million (26%) [14]. - Total loans decreased by $632.8 million in the fourth quarter, while total deposits declined by $516.7 million to $22.1 billion [15]. Organizational Changes - The company is transforming its banking organization to a flatter model to enhance local decision-making and align with organic growth [8]. - Investments are being made to support growth, including building a new commercial banking team in Colorado and opening new branches in Montana [9]. 2026 Outlook - For 2026, the company anticipates low single-digit deposit growth and expects loans to be roughly flat to slightly lower, with a modest increase in the second half of the year [5][23]. - Management expects continued net interest margin expansion, projecting it to be "north of 350" basis points by year-end 2026 [20].

Core Insights - HoldCo Asset Management has established a new position in Comerica, acquiring 2.29 million shares valued at $156.94 million, making it the largest holding in the fund's portfolio [2][6] - Comerica's shares have increased by 41% over the past year, significantly outperforming the S&P 500, which rose by about 16% during the same period [3][8] - The new position in Comerica accounts for 16.56% of HoldCo's 13F assets under management [3][6] Company Overview - Comerica is a leading regional financial institution with a diversified business model that includes commercial banking, retail banking, and wealth management [5][7] - The company serves a wide range of clients, including small and middle-market businesses, multinational corporations, government entities, and individual consumers [7] - As of the latest report, Comerica's market capitalization is $11.11 billion, with a revenue of $3.34 billion and a net income of $717 million for the trailing twelve months [4] Financial Performance - In the latest quarter, Comerica reported a net income of $176 million, or $1.35 per share, which is a decrease from $184 million a year ago [9] - The bank's net interest income remained stable at $574 million, with average deposits rising to $62.7 billion [9] - Comerica's common equity tier 1 ratio is at 11.9%, exceeding management's long-term target, and the bank executed $150 million in share repurchases during the quarter [9] Market Position - Comerica's performance is notable within the regional banking sector, as the S&P Regional Banks Select Industry Index is up about 9% over the past year, still 18% below 2022 highs [8] - The fund's top holdings are concentrated around regional banks, indicating a strategic overweight in this sector rather than a one-off investment in Comerica [10]

Group 1 - SanDisk (SNDK.US) will join the S&P 500 index on November 28, 2025, replacing IPG Photonics (IPG.US) [1] - PTC Therapeutics (PTCT.US) will replace SanDisk in the S&P SmallCap 600 index on the same date [1] - Upwork (UPWK.US) will take the place of Premier (PINC.US) in the S&P SmallCap 600 index on November 28 [1] Group 2 - Patient Square Capital's acquisition of Premier is expected to be completed by November 25 [1] - First Interstate BancSystem (FIBK.US) will replace Hanesbrands (HBI.US) in the S&P SmallCap 600 index on December 2 [1] - Gildan Activewear (GIL.US) is expected to complete its acquisition of Hanesbrands by December 1 [1]

Core Points - S&P Dow Jones Indices announced changes to the S&P 500 and S&P SmallCap 600 indices, effective November 28, 2025 [1][4] - The changes include the addition and deletion of several companies, reflecting ongoing market dynamics and corporate acquisitions [1][4] Group 1: S&P 500 Changes - Sandisk (SNDK) will be added to the S&P 500, replacing Interpublic Group (IPG), which is being acquired by Omnicom Group (OMC) [1][4] - The acquisition of Interpublic Group is expected to close soon, pending final conditions [4] Group 2: S&P SmallCap 600 Changes - Upwork (UPWK) will replace Premier Inc. (PINC) in the S&P SmallCap 600, with Premier being acquired by Patient Square Capital [1][4] - PTC Therapeutics (PTCT) will replace Sandisk in the S&P SmallCap 600, following Sandisk's addition to the S&P 500 [1][4] - First Interstate BancSystem (FIBK) will replace Hanesbrands (HBI) in the S&P SmallCap 600, with Gildan Activewear acquiring Hanesbrands [1][4]

Core Viewpoint - HoldCo Asset Management, LP has expressed its intention to remain a long-term shareholder of First Interstate BancSystem, Inc. following recent concessions made by the Board and management, and it will actively monitor the company's actions and capital allocation decisions [2]. Group 1: Company Overview - HoldCo Asset Management, LP is a Florida-based investment firm managing approximately $2.6 billion in regulatory assets under management [1][3]. - The firm was founded by Vik Ghei and Misha Zaitzeff [3]. Group 2: Shareholder Actions - HoldCo disclosed its ownership of common stock in First Interstate BancSystem, Inc., indicating an economic interest in the price of these securities [1]. - The firm does not intend to pursue a proxy contest at the 2026 Annual Meeting but reserves the right to take necessary actions to protect shareholder rights if the Board's actions are inconsistent with its expectations [2].

Core Insights - Independent Bank (IBCP) reported quarterly earnings of $0.84 per share, exceeding the Zacks Consensus Estimate of $0.83 per share, and showing an increase from $0.65 per share a year ago, resulting in an earnings surprise of +1.20% [1] - The bank's revenues for the quarter ended September 2025 were $57.3 million, which fell short of the Zacks Consensus Estimate by 1.55%, compared to $51.36 million in the same quarter last year [2] - The stock has underperformed the market, losing about 8.5% year-to-date, while the S&P 500 has gained 16.9% [3] Earnings Performance - Over the last four quarters, Independent Bank has surpassed consensus EPS estimates four times [2] - The current consensus EPS estimate for the upcoming quarter is $0.79, with expected revenues of $57.9 million, and for the current fiscal year, the estimate is $3.18 on revenues of $228.1 million [7] Market Outlook - The company's earnings outlook will be crucial for future stock performance, with a mixed trend in estimate revisions leading to a Zacks Rank 3 (Hold) [6] - The Zacks Industry Rank for Banks - Midwest is in the top 35% of over 250 Zacks industries, indicating a favorable industry outlook [8] Competitor Insights - First Interstate BancSystem (FIBK), a competitor in the same industry, is expected to report quarterly earnings of $0.59 per share, reflecting a year-over-year increase of +9.3% [9] - FIBK's anticipated revenues are $254.9 million, up 1.2% from the previous year [10]

Core Insights - HoldCo Asset Management, LP has released a presentation titled "Buy Back Stock and Swear the Rest Off" to the Board of Directors of First Interstate BancSystem, Inc. on September 3, 2025 [1][2] - The firm manages approximately $2.6 billion in regulatory assets under management and has a vested interest in the common stock of First Interstate BancSystem, Inc. [1][3] Company Overview - HoldCo Asset Management, LP is based in Fort Lauderdale, Florida, and was founded by Vik Ghei and Misha Zaitzeff [3] - The firm currently manages around $2.6 billion in regulatory assets [3] Investment Position - HoldCo has a long position in First Interstate BancSystem, Inc. through ownership of its common stock, indicating a direct economic interest in the performance of these securities [2][3]

Core Insights - Civista Bancshares (CIVB) reported quarterly earnings of $0.68 per share, exceeding the Zacks Consensus Estimate of $0.61 per share, and up from $0.53 per share a year ago, representing an earnings surprise of +11.48% [1] - The company posted revenues of $44.18 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 1.78%, and an increase from $38.92 million year-over-year [2] - Civista Bancshares has outperformed consensus EPS estimates three times in the last four quarters and has also topped consensus revenue estimates three times during the same period [2] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.66 on revenues of $43.62 million, while for the current fiscal year, the estimate is $2.66 on revenues of $169.12 million [7] - The estimate revisions trend for Civista Bancshares was mixed ahead of the earnings release, resulting in a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market [6] Industry Context - The Banks - Midwest industry, to which Civista Bancshares belongs, is currently ranked in the top 26% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]

Core Insights - Old National Bancorp (ONB) reported quarterly earnings of $0.59 per share, exceeding the Zacks Consensus Estimate of $0.56 per share, and showing an increase from $0.46 per share a year ago, resulting in an earnings surprise of +5.36% [1] - The company achieved revenues of $713.05 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 2.35% and significantly up from $492.01 million year-over-year [2] - Old National Bancorp has consistently surpassed consensus EPS estimates over the last four quarters [2] Earnings Outlook - The future performance of Old National Bancorp's stock will largely depend on management's commentary during the earnings call and the trends in earnings estimate revisions [3][4] - The current consensus EPS estimate for the upcoming quarter is $0.60, with expected revenues of $711.38 million, and for the current fiscal year, the EPS estimate is $2.16 on revenues of $2.54 billion [7] Industry Context - The Banks - Midwest industry, to which Old National Bancorp belongs, is currently ranked in the top 35% of over 250 Zacks industries, indicating a favorable outlook compared to lower-ranked industries [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact Old National Bancorp's stock performance [5]