Core Viewpoint - SouthState Bank Corporation (SSB) is recognized as one of the top bank stocks to consider for investment in 2026, with a positive outlook from UBS following strong Q4 2025 results [1][2]. Financial Performance - SSB reported a significant net income growth of 71.8% year-over-year (YoY) in Q4 2025, reaching $247.7 million, up from $144.2 million [3]. - Diluted earnings per share increased by 31.6% YoY to $2.46, compared to $1.87 in the previous year [3]. - Return on average assets improved by 24 basis points YoY to 1.47%, while return on common equity rose by 178 basis points YoY to 10.90% [3]. Revenue Drivers - The strong earnings growth was primarily fueled by a 57.2% YoY increase in net interest income (NII), totaling $581.1 million, up from $369.8 million [4]. - Net interest margin (NIM) expanded by 38 basis points YoY to 3.86%, with average earning asset yields improving by 46 basis points YoY to 5.62% [4]. Asset Growth - Earning assets grew by 41.5% YoY to $59.9 billion, with a notable 43.0% expansion in the loan book, increasing from $33.8 billion to $48.4 billion [5]. - This growth in earning assets was primarily funded by a $17.1 billion YoY increase in deposits, rising from $38.1 billion to $55.1 billion [5]. Asset Quality - Asset quality remained stable, with a slight increase in the net charge-off ratio to 0.09% YoY, while the allowance for credit loss percentage improved to 1.20% [6]. - Provisions for credit losses grew modestly by 3.6% YoY to $6.6 million [6]. Shareholder Actions - The board of directors approved a new stock purchase plan, allowing the repurchase of 5.56 million common shares, approximately 5.6% of the company's weighted average common shares outstanding as of December 31, 2025 [7].

FEBRUARY 2026 4Q25 Earnings Results Our 2025 Guidance was right on target CET1 Commercial Portfolio Growth Average Deposit Growth NIM Efficiency Ratio ROE 11% 15% 2.36% 26.7% 15.8% 15.3% 10% 12% 15% 17% 2.25% 2.35% 26% 28% 15% 16% 15% 16% ✓ ✓ ✓ ✓ ✓ ✓ 2 Real vs Guidance 2025 Key Results: Solid Performance in 2025 Record Earnings and RoE Record Commercial Portfolio and Strong Deposit Growth Robust Margins and healthy Asset Quality Record Non - Interest Income and Efficiency Commercial Book $11.2 Bn ↑ 11% YoY ...

Core Viewpoint - State Bank of India (SBI) reported a strong third-quarter net profit of ₹21,030 crore, exceeding estimates by 18%, driven by higher fee income and lower provisions, leading to bullish price targets from various brokerages, with some reaching as high as ₹1,300 [1][10]. Financial Performance - Net interest income increased by 9% year-on-year and 5% quarter-on-quarter to ₹45,190 crore, aligning with estimates [6][11]. - The net interest margin improved to 2.99%, with domestic margins rising to 3.12%, and the bank anticipates margins above 3% in fiscal 2026 and beyond [6][11]. - The loan book grew by 15.6% year-on-year and 6.1% quarter-on-quarter, while deposits increased by 9% and 2%, respectively [9][11]. Brokerage Ratings and Price Targets - Jefferies maintained a Buy rating with a price target of ₹1,300, up from ₹1,190, citing a 1.5x valuation on adjusted book value for March 2028 and projecting a 12% compound annual growth in core profit over fiscal 2026-28 [2][10]. - Motilal Oswal matched the ₹1,300 target, valuing the bank at 1.4 times fiscal 2028 adjusted book value plus ₹354 for subsidiaries, while raising earnings estimates by 3% and 4.3% for fiscal 2027-28 [3][10]. - Nomura raised its target price to ₹1,235 from ₹1,100, reflecting an improved return on equity outlook [7][11]. - JP Morgan maintained an Overweight rating and increased its price target to ₹1,250, revising fiscal 2026 earnings estimates by 7% [7][8][11]. - BofA Securities adopted a more cautious stance, maintaining a Neutral rating with a new price objective of ₹1,100, citing balanced risk-reward at current valuations [9][11]. Asset Quality and Capital Adequacy - The bank's asset quality showed improvement, with slippages moderating and credit costs remaining low at 29 basis points [3][11]. - The CET-1 capital adequacy ratio stood at 11%, indicating a healthy capital position [2][10].

Core Insights - State Bank of India (SBI) reported a 24% year-on-year increase in Q3FY26 net profit, reaching ₹21,028 crore, driven by strong loan growth and stable asset quality [1] Financial Performance - Net interest income (NII) grew by 9% year-on-year to ₹45,190 crore, with a net interest margin of 2.99%, expected to rise above 3% in the next quarter [1] - Gross advances increased by 15% year-on-year to ₹46.83 lakh crore in Q3, prompting SBI to raise its credit growth guidance for FY26 to 14-15% from the previous 12-13% [3] - Deposits rose by 9% year-on-year to ₹57.01 lakh crore, with low-cost deposits maintaining a stable share of 39% [4] Asset Quality - Fresh slippages decreased to ₹4,458 crore in Q3 from ₹4,754 crore in Q2, while recoveries improved to ₹2,371 crore, with an expectation of ₹8,000 crore in recoveries for FY26 [5] - Credit cost declined by 4 basis points to 0.39% in Q3, and loan loss provisions were reduced to ₹3,216 crore from ₹4,132 crore in the previous quarter [5] - The gross non-performing asset (NPA) ratio fell by 50 basis points year-on-year to 1.57%, and the net NPA ratio decreased by 14 basis points to 0.39% in Q3 [6] Strategic Developments - SBI received a special dividend of ₹2,200 crore from its subsidiary SBI MF and plans to complete the IPO process of the company before the end of 2026 [2]

Core Viewpoint - C&F Financial Corporation (CFFI) has demonstrated strong financial performance in the fourth quarter of 2025, with significant increases in net income, earnings per share, and overall asset growth, outperforming the S&P 500 index during the same period [1][2][3]. Financial Performance - Consolidated net income for Q4 2025 was $6.7 million, an 11% increase from $6 million in Q4 2024, while full-year net income rose 36% to $27 million from $19.9 million in 2024 [2]. - Earnings per share (EPS) for Q4 increased to $2.07 from $1.87 a year earlier, and full-year EPS climbed to $8.29 from $6.01 [3]. - Return on average assets improved to 1.01% from 0.80%, and return on average equity increased to 11.11% from 9.02% [3]. Key Business Metrics - Total assets grew to $2.77 billion as of December 31, 2025, compared to $2.56 billion a year earlier [4]. - Deposits increased by 8.1% year over year to $2.35 billion, driven by higher balances across various account types [4]. - Loan growth was led by the community banking segment, with loans increasing by $136.7 million, or 9.4%, from December 31, 2024 [4]. Net Interest Income and Margins - Net interest income on a fully taxable equivalent basis rose to $107.4 million for the year, up from $97.9 million in 2024, supported by higher yields on loans and securities [5]. - The consolidated net interest margin expanded to 4.21% for the year from 4.12% in the prior year [5]. Management Commentary - Management highlighted the benefits of a diversified business model, emphasizing growth in loans and deposits, increased wealth advisory revenues, and enhanced operational efficiencies as key contributors to earnings growth [6][7]. - Strong liquidity and capital positions, along with solid asset quality, were noted as indicators of the company's overall financial strength [7]. Factors Influencing Earnings - Higher interest income was a primary driver of the year-over-year earnings increase, supported by growth in average loan balances and higher yields on securities [8]. - Increased salaries and employee benefits were attributed to incentive accruals and the addition of a seasoned lending team [9]. Mortgage Banking and Credit Losses - Mortgage banking results benefited from higher loan originations and increased gains on sales of loans despite elevated mortgage rates [11]. - The community banking segment recorded a net reversal of provision for credit losses for the year, contrasting with a provision in 2024 [10]. Strategic Guidance - Management reiterated its commitment to a strategic plan focused on leveraging core strengths, expanding in targeted markets, and maintaining disciplined balance sheet and risk management practices [12]. Capital Management - The company authorized a share repurchase program allowing for the repurchase of up to $5 million of common stock in 2026, and declared total cash dividends of $1.84 per share for 2025, reflecting a payout ratio of 22.2% of earnings [13].

Core Viewpoint - Ohio Valley Banc Corp. (OVBC) reported strong earnings growth for the quarter and full year ended December 31, 2025, with significant increases in net income and earnings per share, outperforming the S&P 500 Index during the same period [1][2]. Financial Performance - For Q4 2025, OVBC's net income reached $3.9 million, a 57.3% increase from $2.5 million in Q4 2024, with EPS rising 58.5% to $0.84 from $0.53 [2]. - Full-year net income for 2025 was $15.6 million, up 41.8% from $10.9 million in 2024, while EPS climbed 42.7% to $3.31 from $2.32 [2]. - Total interest income for Q4 increased 14.1% to $22.9 million from $20 million a year earlier, driven by growth in loan and securities portfolios [3]. Key Business Metrics - The quarterly net interest margin expanded to 4.18% from 3.70% year over year, and the full-year margin improved to 4.07% from 3.71% [4]. - Average earning assets increased to $1.48 billion in Q4 2025 from $1.41 billion, supported by $75 million growth in average loans and $53 million growth in average securities [4]. - Return on average assets rose to 1.00% for Q4 from 0.66% year over year, and return on average equity improved to 9.49% from 6.62% [5]. Asset Quality - The ratio of non-performing loans to total loans increased to 1.40% as of December 31, 2025, from 0.46% a year earlier, attributed to two commercial loans placed on nonaccrual status [6]. - The allowance for credit losses remained stable at 0.96% of total loans compared to 0.95% at year-end 2024 [6]. Management Commentary - Management highlighted record earnings in OVBC's 153rd year, attributing success to disciplined execution, employee commitment, and a focus on community-oriented banking [7]. - The emphasis was placed on balance sheet growth, improved margins, and cost controls as key contributors to performance [7]. Factors Influencing Earnings - Margin expansion was a key driver of earnings growth, supported by higher yields on earning assets and a decline in funding costs [8]. - Noninterest income declined sharply by 81.4% year over year in Q4, primarily due to losses on securities sales [9]. - Noninterest expense decreased 18.4% year over year, aided by lower salary and benefit costs following a voluntary early retirement program [10]. Future Outlook - OVBC did not provide explicit forward-looking financial guidance, focusing instead on current-period results and balance sheet strategy [11]. Other Developments - No acquisitions or major business restructurings were announced during the quarter, but OVBC continued participation in the Ohio Homebuyer Plus program, influencing deposit and securities balances [12].

Financial Data and Key Metrics Changes - The company reported a net income of $87 million for Q4 2025, translating to $0.85 per share, with a return on assets of 1.8% and an efficiency ratio of 49% [4][5] - For the full year 2025, net income reached $345 million, representing a 90% increase in earnings per share to $2.15, with a return on average assets of 1.81% [8][14] - The company achieved a record total revenue of over $1 billion for the year, with adjusted pre-tax, pre-provision income at an all-time high of $499.2 million, a 10% increase from 2024 [8][14] Business Line Data and Key Metrics Changes - Total loans grew by $80 million, primarily driven by growth in commercial segments, despite some impact from elevated commercial loan payoffs and lower consumer loan production [4][5] - Core customer deposits increased by $267 million, with a notable 3.2% rise in core non-interest-bearing deposits during the quarter [5][6] - The company repurchased $50 million in shares and declared $28 million in dividends, with a total of over 28% of shares outstanding repurchased since the buyback program began in 2021 [6][7] Market Data and Key Metrics Changes - The unemployment rate in Puerto Rico is approximately 5.7%, with strong tourism activity reflected in an 8% increase in passenger traffic, reaching a record high of 13.6 million [10] - The company anticipates a stable economic environment in 2026, with expectations of 3%-5% organic loan growth and a sustained efficiency ratio of 52% or better [11][12] Company Strategy and Development Direction - The company is focused on enhancing its omnichannel strategy to improve customer interactions across digital and branch channels, with active retail digital users up 5% year-over-year [8][9] - The board approved an 11% increase in the quarterly common stock dividend to $0.20 per share, effective Q1 2026, reflecting the company's commitment to returning capital to shareholders [7][28] - The company is exploring both organic and non-organic growth opportunities, including the opening of a new branch in Boca Raton, Florida [55] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about underlying economic trends for 2026, despite potential challenges from inflationary pressures and geopolitical tensions [9][10] - The company expects asset quality to remain stable, with consumer credit quality gradually returning to pre-pandemic levels [12] - Management is committed to maintaining strong profitability metrics and returning close to 100% of annual earnings to shareholders [11][12] Other Important Information - The efficiency ratio for the quarter was reported at 49%, with expectations for ongoing technology investments to maintain this level [23] - The company recorded a 4% increase in tangible book value per share to $12.29, with regulatory capital ratios continuing to build up [27] Q&A Session Summary Question: Any more mix shift change with lower liquidity and levers that might aid NIM going forward? - Management indicated that cash flows from the investment portfolio and repricing of deposit components would be key drivers for net interest margin improvement [31][32] Question: What are the competitive dynamics regarding cost of funds? - Management noted that wholesale funding through brokered CDs is repricing with the market, and time deposits are expected to decrease as rates come down [33][34] Question: Comments on credit quality stability? - Management affirmed stability in credit quality, with no significant disruptions anticipated, although some consumer delinquencies have normalized [35] Question: Insights on auto loan market? - Management observed a contraction in the auto loan portfolio but expects stabilization without significant growth unless pricing adjustments occur [41][42] Question: Thoughts on reinvestment of securities cash flows? - Management expects a 2-3 basis points pick up on reinvestment of cash flows from maturing securities, focusing on agency investments [47][50] Question: Clarification on efficiency ratio calculation? - The efficiency ratio is calculated on a GAAP basis, including all components, and has been improving due to the sale of OREO properties [62][64] Question: Insights on non-interest-bearing deposit flows? - Management emphasized the importance of building core relationships and expanding branches to grow non-interest-bearing deposits [66][67]

Financial Data and Key Metrics Changes - The company reported a net income of $87 million for Q4 2025, translating to $0.85 per share, with a return on assets of 1.8% and an efficiency ratio of 49% [4][5] - For the full year 2025, net income reached $345 million, representing a 90% increase in earnings per share compared to the previous year [8][14] - The return on average assets for 2025 was 1.81%, up from 1.58% in 2024, marking the fourth consecutive year of surpassing the target of 1.50% [15] Business Line Data and Key Metrics Changes - Total loans grew by $80 million, primarily driven by growth in commercial segments, despite some impact from elevated commercial loan payoffs and lower consumer loan production [4][5] - Core customer deposits increased by $267 million, with a notable 3.2% rise in core non-interest-bearing deposits during the quarter [5][6] - Net interest income for the quarter increased by $4.9 million to $222.8 million, with a net interest margin of 4.68% [15][16] Market Data and Key Metrics Changes - The company noted a stable credit quality environment, with non-performing assets to total assets decreasing to an all-time low of 60 basis points [5][24] - The unemployment rate in Puerto Rico is around 5.7%, with strong tourism activity contributing to economic stability [10][11] - The company anticipates organic loan growth of 3%-5% and aims to maintain a 52% or better efficiency ratio in 2026 [11] Company Strategy and Development Direction - The company is focused on enhancing its omnichannel strategy to improve customer interactions across digital and branch channels, with active retail digital users up 5% year-over-year [8][9] - Plans for 2026 include increasing capital returns to shareholders, with an 11% increase in quarterly dividends approved [7][28] - The company is exploring both organic growth and potential non-organic opportunities, maintaining a strategic focus on shareholder value [54] Management's Comments on Operating Environment and Future Outlook - Management expressed a constructive outlook for the economy in 2026, despite potential challenges from inflation and geopolitical tensions [10][11] - The company expects stability in asset quality, with consumer credit quality gradually returning to pre-pandemic levels [12] - Management remains optimistic about the loan pipeline, particularly in commercial and residential sectors, while being cautious about consumer lending [31][46] Other Important Information - The company repurchased $50 million in shares during the quarter and has repurchased over 28% of shares outstanding since the buyback program began in 2021 [6][27] - The tangible book value per share increased by 4% to $12.29, with a tangible common equity ratio of 10% [27] Q&A Session Summary Question: Any more mix shift change with lower liquidity and levers that might aid the NIM going forward? - Management indicated that cash flows from the investment portfolio and repricing of deposit components will be key drivers for net interest margin improvements [31][32] Question: What are the competitive dynamics regarding cost of funds with lower rates? - Management noted that wholesale funding through brokered CDs is repricing with the market, and time deposits are expected to reprice at lower rates as well [33][34] Question: Comments on credit quality stability? - Management confirmed stability in credit quality, with no specific concerns, although they are monitoring consumer delinquencies closely [35] Question: Insights on auto loan market? - Management observed a contraction in the auto loan portfolio but expects stabilization without significant growth unless pricing adjustments occur [41][42] Question: Thoughts on reinvestment of securities cash flows? - Management expects a 2-3 basis points pickup on reinvestment of cash flows from maturing securities [47][50] Question: Any updates on telecom NPL? - Management stated there is no new information, and they are working with the lead bank on resolution [51][53] Question: Considerations for capital ratios and shareholder returns? - Management emphasized organic growth as a priority while remaining open to non-organic opportunities, with a focus on returning capital to shareholders [54]

Financial Data and Key Metrics Changes - The company reported a net income of $87 million for Q4 2025, translating to $0.85 per share, with a return on assets of 1.8% and an efficiency ratio of 49% [4][6] - For the full year 2025, net income reached $345 million, or $2.15 per share, with a return on average assets of 1.81%, marking the fourth consecutive year above the target of 1.50% [7][15] - Adjusted pre-tax, pre-provision income for the full year was $499.2 million, a 10% increase from 2024 [14] Business Line Data and Key Metrics Changes - Total loans grew by $80 million, primarily driven by growth in commercial segments, despite a slight decrease in consumer loan production [4][5] - Core customer deposits increased by $267 million, with a notable 3.2% rise in core non-interest-bearing deposits [5][6] - The company repurchased $50 million in shares and declared $28 million in dividends during the quarter, with a total of $150 million in share repurchases for the year [6][28] Market Data and Key Metrics Changes - The unemployment rate in Puerto Rico is approximately 5.7%, with strong tourism activity reflected in an 8% increase in passenger traffic, reaching a record high of 13.6 million [10] - The company anticipates a stable economic environment in 2026, despite some moderation in consumer confidence due to inflationary pressures and geopolitical tensions [9][11] Company Strategy and Development Direction - The company is focused on organic loan growth of 3%-5% and maintaining an efficiency ratio of 52% or better, while returning close to 100% of annual earnings to shareholders [11][12] - Investments in an omnichannel strategy are yielding positive results, with a 5% increase in active retail digital users compared to the previous year [8][9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the stability of asset quality, with expectations for consumer credit quality to gradually return to pre-pandemic levels [12] - The company is well-positioned for growth in 2026, with ongoing investments to modernize and enhance its franchise [12][29] Other Important Information - The company achieved a 4% increase in tangible book value per share to $12.29, with regulatory capital ratios continuing to improve [28] - The board approved an 11% increase in the quarterly common stock dividend to $0.20 per share, effective Q1 2026 [6][29] Q&A Session Summary Question: Any more mix shift change with lower liquidity and levers that might aid NIM going forward? - Management indicated that cash flows from the investment portfolio and repricing of deposit components will be key drivers for net interest margin improvement [32][33] Question: What are the competitive dynamics and potential for lower cost of funds? - Management noted that wholesale funding and time deposits are being repriced lower, but transaction accounts may not see significant changes [34][36] Question: Insights on credit quality stability? - Management confirmed stability in credit quality, with some normalization in consumer delinquencies but no specific concerns [37] Question: Update on auto loan market? - Management observed a contraction in the auto loan portfolio but expects stabilization without significant growth unless pricing adjustments occur [44][46] Question: Thoughts on reinvestment of securities cash flows? - Management expects a 2-3 basis points pick up on reinvestment yields, focusing on agency investments [50][52] Question: Clarification on efficiency ratio calculation? - The efficiency ratio is calculated on a GAAP basis, including all components, and has been improving due to OREO property sales [64][66] Question: Details on non-interest-bearing deposit flows? - Management emphasized the importance of building core relationships and expanding branches to grow non-interest-bearing deposits [67][69]

Core Insights - Western Alliance Bancorporation reported strong financial results for Q4 and full year 2025, with record net interest income, revenues, and pre-provision net revenue (PPNR) [1][2] - The company achieved a net income of $293.2 million for Q4 2025, a 12.6% increase from Q3 2025, and a 32.8% increase year-over-year [1][2] - Full year net income reached $990.6 million, up 25.8% from the previous year, with earnings per share increasing by 23.1% to $8.73 [1][2] Financial Highlights - Q4 2025 net income was $293.2 million, with earnings per share of $2.59, compared to $260.5 million and $2.28 in Q3 2025 [1][2] - Full year net revenue was $3.5 billion, a 12.0% increase from the previous year, while non-interest expenses rose by 4.3% [1][2] - The efficiency ratio for Q4 2025 was 55.7%, improved from 58.9% in Q4 2024 [1][2] Loan and Deposit Growth - HFI loans increased by $2.0 billion in Q4 2025, totaling $58.7 billion, with a loan-to-deposit ratio of 76.0% [1][3] - Total deposits were $77.2 billion, a decrease of $88 million from Q3 2025, but an increase of $10.8 billion year-over-year [1][3] - The company reported impressive quarterly loan growth, contributing to a total asset increase to approximately $93 billion [1][2] Asset Quality - Nonperforming loans to funded HFI loans decreased to 0.85% in Q4 2025 from 0.92% in Q3 2025 [1][3] - The provision for credit losses was $73.0 million for Q4 2025, down from $80.0 million in Q3 2025 [2][3] - Criticized loans decreased by $15 million during the quarter, totaling $1.3 billion [4] Capital Position - Total equity increased to $7.9 billion at December 31, 2025, up from $7.7 billion at September 30, 2025 [3][4] - The common equity tier 1 capital ratio was 11.0% at December 31, 2025, compared to 11.3% at September 30, 2025 [3][4] - Tangible book value per share rose to $61.29, a 17.3% increase year-over-year [1][3] Performance Metrics - The net interest margin for Q4 2025 was 3.51%, slightly down from 3.53% in Q3 2025 [2][3] - Return on average assets was 1.23% for Q4 2025, compared to 1.12% in Q4 2024 [1][2] - The company repurchased 0.7 million shares for $57.5 million during Q4 2025 [3][4]