Phillip D. Green: The expansion now represents 9.6% of company loans and 6.6% of company deposits using average June month-to-date balances. As we've mentioned, the successes of our earlier expansion locations are now funding the current expansion effort, and we expect the overall effort will be accretive to earnings in 2026. And as I've said many times, this strategy is both durable and scalable. Average consumer deposits make up about 46% of our total deposit base, and we continue to see consistently high ...

Financial Data and Key Metrics Changes - In Q2 2025, Cullen/Frost earned $155.3 million or $2.39 per share, compared to $143.8 million or $2.21 per share in the same quarter last year, representing a year-over-year increase of 8.5% in earnings per share [5] - Return on average assets was 1.22% and return on average common equity was 15.64%, compared to 1.18% and 17.08% in the same quarter last year [5] - Average deposits increased to $41.8 billion, up 3.1% from $40.5 billion in Q2 2024, while average loans grew to $21.1 billion, a 7.2% increase from $19.7 billion [6] Business Line Data and Key Metrics Changes - Consumer deposits grew by 3.7% year-over-year, with checking household growth at an industry-leading rate of 5.4% [9][10] - The commercial business saw average loan balances increase by $817 million or 4.9% year-over-year, with commercial real estate (CRE) balances growing by 6.8% and energy balances increasing by 22% [11] - The consumer real estate loan portfolio grew by $600 million year-over-year, representing a 22% growth rate [10] Market Data and Key Metrics Changes - Expansion efforts contributed to 37% of total loan growth and 44% of total deposit growth year-over-year [15] - The expansion now represents 9.6% of company loans and 6.6% of company deposits [9] - New commercial relationships increased by 9% over the first quarter, with 1,060 new relationships recorded in Q2 [12] Company Strategy and Development Direction - The company continues to focus on organic growth through expansion in Texas, having opened its 200th location [6][7] - Management emphasizes a durable and scalable growth strategy, with plans to continue identifying new locations for expansion [9] - The company is not currently interested in pursuing M&A opportunities, preferring to focus on organic growth and customer service [86][87] Management's Comments on Operating Environment and Future Outlook - Management expects net interest income growth for the full year to fall in the range of 6%-7%, with net interest margin improvement of about 12-15 basis points [22][23] - The company anticipates that the rate of growth in expenses will decrease over time as investments in technology and expansion begin to pay off [43] - Management is optimistic about the economic outlook and expects to see benefits from expansion efforts in 2026 [41][45] Other Important Information - The net unrealized loss on the available-for-sale portfolio at the end of the quarter was $1.42 billion, slightly up from $1.4 billion in the previous quarter [18] - Non-interest income is expected to grow in the range of 3.5%-4.5%, an increase from prior guidance [23] Q&A Session Summary Question: What are the current trends in loan pricing and competition? - Management noted that competition has increased, particularly in commercial real estate, leading to price compression [30][31] Question: How is the company approaching capital growth and utilization? - The focus remains on building capital, with a priority on protecting dividends, and no immediate plans for stock repurchase [32][34] Question: When can shareholders expect to see benefits from recent investments? - Management expects accretion from expansion efforts to begin in 2026, with a gradual increase over time [41][45] Question: What is the outlook for deposit growth? - Management is optimistic about deposit growth in the second half of the year, with expectations for non-interest-bearing deposits to stabilize [49][50] Question: How does the company view M&A opportunities? - The company is not interested in pursuing M&A, focusing instead on organic growth strategies [86][87]

Financial Data and Key Metrics Changes - In Q2 2025, Cullen Frost earned $155.3 million or $2.39 per share, compared to $143.8 million or $2.21 per share in Q2 2024, representing a year-over-year increase of 8.8% in earnings per share [4] - Return on average assets was 1.22% and return on average common equity was 15.64%, compared to 1.18% and 17.08% in the same quarter last year [4] - Average deposits increased by 3.1% to $41.8 billion from $40.5 billion year-over-year, while average loans grew by 7.2% to $21.1 billion from $19.7 billion [5] Business Line Data and Key Metrics Changes - Consumer deposits grew by 3.7% year-over-year, with checking household growth at an industry-leading rate of 5.4% [7][8] - The consumer real estate loan portfolio increased by $600 million year-over-year, achieving a growth rate of 22% [8] - Average loan balances in the commercial business grew by 4.9% year-over-year, with notable increases in commercial real estate (CRE) balances by 6.8% and energy balances by 22% [9] Market Data and Key Metrics Changes - Expansion efforts contributed to 37% of total loan growth and 44% of total deposit growth year-over-year [13] - The expansion now represents 9.6% of company loans and 6.6% of company deposits [7] - The company recorded 1,060 new commercial relationships in Q2, marking a 9% increase over Q1 [10] Company Strategy and Development Direction - The company continues to focus on organic growth through expansion in Texas, having opened its 200th location [5][6] - Management emphasizes a durable and scalable strategy, with plans to continue identifying new locations to enhance customer value [6] - The company is not currently interested in pursuing M&A, preferring to focus on organic growth and customer service [80][82] Management's Comments on Operating Environment and Future Outlook - Management expects net interest income growth for the full year to be in the range of 6%-7%, despite anticipated Fed rate cuts [19] - The company anticipates that the rate of growth in expenses will decrease over time as investments in technology and expansion begin to pay off [41] - Management is optimistic about the economic outlook and believes that the legacy part of the business will benefit from an improving economy [43] Other Important Information - Non-performing assets decreased to $64 million from $85 million at year-end, indicating improved credit quality [11] - The net unrealized loss on the available-for-sale portfolio was $1.42 billion, slightly up from $1.4 billion in the previous quarter [15] - The company expects to maintain a stable effective tax rate of 16%-17% for the full year 2025 [20] Q&A Session Summary Question: What are the current trends in loan pricing and competition? - Management noted increased competition in commercial real estate, leading to price compression, but emphasized the importance of maintaining a strong balance sheet and protecting the portfolio [28][29] Question: How is the company approaching capital growth and utilization? - The focus remains on building capital, with a priority on protecting dividends. There are no immediate plans for stock repurchase [30][32] Question: When can shareholders expect to see benefits from recent investments? - Management expects accretion from expansion efforts to begin in 2026, with a gradual increase over time rather than a one-time boost [40] Question: What is the outlook for deposit growth and competition? - Management is optimistic about deposit growth returning to seasonal trends, with expectations for commercial customers to build up their DDA balances in the latter half of the year [47][48] Question: How does the company view M&A activity in the current market? - The company is not interested in pursuing M&A, preferring to focus on organic growth strategies that have proven effective [80][82]

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Core Insights - The company reported a strong financial performance for the third quarter of 2025, with significant growth in loans and core deposits, resulting in a net income of $16.3 million and earnings per share of $0.77 [4] - The total assets increased by $228.3 million, primarily driven by loan growth in the commercial real estate portfolio, which grew by $77.7 million [2] - The company maintains a low volume of nonperforming loans, which decreased by $149,000 during the quarter, reflecting strong credit quality [1][3] Financial Performance - The net interest margin expanded by 3 basis points to 3.56%, while the cost of total deposits declined by 2 basis points to 2.44% [3] - Total deposits increased by approximately $208.8 million or 21% on an annualized basis, with non-wholesale deposits growing by $359 million or 11% [3] - Noninterest income rose to $2 million from $1.8 million, mainly due to an increase in swap referral fees [6] Deposit Growth - The company experienced substantial growth in interest-bearing deposits, contributing $171.6 million to overall growth, while non-interest-bearing deposits added $28.8 million [1] - Approximately 60% of deposit relationships exceed $5 million, indicating a stable funding base for future growth [1][5] - The average age of deposits is 8 years, suggesting a stable deposit portfolio [5] Loan Growth and Quality - Loans held for investment grew by $129.2 million or 14% on an annualized basis, with a strong loan pipeline remaining in place [3] - The credit quality of loans is maintained through conservative underwriting practices and robust monitoring [2] - Nonperforming loans represent only 5 basis points of total loans held for investment, indicating strong asset quality [3] Strategic Initiatives - The company opened a new full-service office in Walnut Creek, enhancing its presence in the San Francisco Bay Area, which now has 36 employees and $548.9 million in deposits [7] - Continued investment in technology and operational efficiencies is expected to benefit customers and shareholders [9] - The company is focused on organic growth and maintaining a strong relationship-based service model [8][9] Future Outlook - The company anticipates deposit growth of 1% to 2% in the fourth quarter, with a focus on optimizing the funding base [12] - There is potential for continued margin expansion in a down rate environment, with expectations of 1 to 3 basis points improvement in the fourth quarter [22] - The loan-to-deposit ratio is targeted at 95%, with flexibility to adjust based on market conditions [27]

Financial Data and Key Metrics Changes - Core EPS for Q4 2025 was $0.79, representing an 88% increase year-over-year, driven by record total revenues of $124 million for the quarter [5][23] - NIM increased by 10 basis points to 311 basis points, with average earning assets up over $650 million on a linked-quarter basis [6][24] - Core deposits rose by $1.2 billion year-over-year, with strong growth across all channels [6][24] Business Line Data and Key Metrics Changes - Business loans grew over $175 million on a linked-quarter basis and over $500 million year-over-year, with significant contributions from new specialized industry verticals [8][44] - Non-interest income for the quarter was $11.5 million, exceeding guidance [28] - The loan loss provision declined to $10.9 million, with the allowance to loans increasing to 91 basis points [28] Market Data and Key Metrics Changes - The company reported a total capital ratio of over 16%, indicating strong capital levels compared to local peers [10][28] - Non-interest-bearing deposits reached nearly 31% of total deposits, with a goal to increase this ratio over time [66][68] Company Strategy and Development Direction - The company is focused on organic growth, with plans to expand its commercial banking platform and industry verticals [10][11] - A significant amount of repricing assets is expected in the next two years, providing a tailwind for revenue growth [12][30] - The company aims to operate at a sub-50% efficiency ratio by growing revenues faster than expenses [13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong organic growth environment and the ability to capitalize on lending opportunities [11][14] - The company anticipates modest NIM expansion in the first half of 2026, with more substantial growth expected in the latter half due to loan repricing [30][34] - The management highlighted the importance of maintaining a strong liquidity position to support future growth [31][75] Other Important Information - The company has added new capabilities in various commercial banking sectors, including Fund Finance and Lender Finance, to enhance its service offerings [18][21] - The Manhattan branch is operational, with additional locations expected to open by the end of the first year [11] Q&A Session Summary Question: What industries accounted for the growth in business loan balances this quarter? - The growth primarily came from new specialized industries, with healthcare being a significant contributor [44] Question: How much business do you have in New Jersey? - Approximately 8% to 10% of the loan portfolio is in Northern New Jersey, with a deposit-to-loan ratio of about 15%-20% [46] Question: Are you caught up on the SBA loan pipeline? - The company is caught up on the pipeline, but Q1 activity levels may not match Q4 due to the previous quarter's backlog [47] Question: What does the deposit pipeline look like? - The company is seeing strong inflows, with new customers requiring competitive rates to attract deposits [50][51] Question: What is the current status of the rent-regulated loan book? - The rent-regulated book is stable, with maturities and repricings expected to be around $250 million for 2026 [58] Question: What is the strategy for deploying cash and securities? - There is no rush to deploy cash; the company is focused on maintaining flexibility and will consider opportunities as they arise [72][74] Question: What is the current percentage of floating-rate loans? - Floating-rate loans currently make up about 35%-40% of the balance sheet, with expectations for this to increase as new business is generated [76]

Core Insights - Dime Community Bancshares, Inc. reported a record quarterly revenue of $124 million for Q4 2025, reflecting strong performance in core deposits and business loans [5][6] - The company achieved a net income available to common stockholders of $30.0 million, or $0.68 per diluted common share, for the quarter ended December 31, 2025, compared to $25.8 million, or $0.59 per diluted common share, for the previous quarter [3][39] - The adjusted diluted EPS for Q4 2025 was $0.79, an 88% increase year-over-year, indicating effective execution of the company's organic growth strategy [4][5] Financial Performance - For the year ended December 31, 2025, net income available to common stockholders was $103.4 million, or $2.36 per diluted common share, significantly up from $21.8 million, or $0.55 per diluted common share, in 2024 [2][39] - Net interest income for Q4 2025 was $112.3 million, up from $103.4 million in Q3 2025 and $91.1 million in Q4 2024, with a net interest margin of 3.11% [7][39] - Total deposits increased by $1.16 billion year-over-year, reaching $12.84 billion at the end of Q4 2025 [15][39] Loan and Deposit Growth - Core deposits (excluding brokered and time deposits) increased by $1.26 billion year-over-year, while business loans grew by $177.9 million on a linked quarter basis and $514.0 million year-over-year [9][15] - The loan-to-deposit ratio declined to 83.8% at the end of Q4 2025, down from 88.9% in the previous quarter, indicating a strong deposit growth relative to loans [9][39] Credit Quality and Capital Management - Non-performing loans decreased to $52.3 million at December 31, 2025, compared to $72.1 million at September 30, 2025, and $49.5 million at December 31, 2024 [22][39] - Stockholders' equity increased to $1.48 billion at December 31, 2025, with a Common Equity Tier 1 Ratio of 11.66% [23][39] Efficiency and Expense Management - The efficiency ratio improved to 52.6% in Q4 2025, down from 53.8% in the previous quarter and significantly better than 105.9% in Q4 2024 [20][39] - Total non-interest expense was $65.1 million in Q4 2025, compared to $62.2 million in Q3 2025 and $60.6 million in Q4 2024 [18][39]

Core Viewpoint - Unity Bancorp, Inc. reported a record net income of $58.0 million for the year 2025, reflecting a significant increase of 39.8% compared to the previous year, driven by strong growth in loans and deposits [2][3]. Financial Performance - For Q4 2025, Unity Bancorp achieved a net income of $15.5 million, or $1.52 per diluted share, up from $14.4 million, or $1.41 per diluted share in Q3 2025 [1][2]. - The company reported a return on assets (ROA) of 2.20% and a return on equity (ROE) of 18.08% for the fourth quarter [2]. - For the full year 2025, the ROA was 2.17% and the ROE was 18.07% [2]. Growth Metrics - Gross loans increased by $284 million, or 12.6%, primarily due to growth in commercial portfolios [3]. - Total deposits grew by $224 million, or 10.7%, with customer deposits (excluding brokered) increasing by $168 million, or 8.9% [3]. Challenges and Risks - A significant commercial mortgage relationship of $15.5 million migrated to nonaccrual status, impacting the income statement by $1.6 million due to reserve build-up and interest income reversals [4]. - The borrower was affected by tariffs on Chinese imports, which negatively impacted their cash flow [4]. Future Outlook - Unity Bancorp aims to continue its organic growth strategy, focusing on enhancing customer experiences and attracting new clients [6]. - The company believes that a favorable economic environment will support its operations as a high-performing institution [3]. Company Overview - Unity Bancorp, Inc. is headquartered in Clinton, New Jersey, with approximately $3.0 billion in assets and $2.3 billion in deposits [7]. - Unity Bank, its wholly owned subsidiary, provides financial services through a robust branch network across several counties in New Jersey and Pennsylvania [7].

Core Insights - Interlink Electronics, Inc. has appointed Mark Duarte as the Director of Business Development for North America to support its organic growth strategy across the Americas [1][2] Group 1: Appointment and Role - Mark Duarte will play a crucial role in implementing Interlink's strategic growth plan and expanding its footprint across the Americas [2] - Duarte brings over 30 years of experience, including 22 years in sales and strategic planning, with a strong track record of exceeding revenue targets [3] Group 2: Previous Experience - Prior to joining Interlink, Duarte was the Senior Sales Manager at Linxens Healthcare, where he focused on aligning sales efforts with corporate growth strategies and secured multi-year contracts [3] - Duarte also served as the Director of Medical Sales at East West MFG., where he established the company as a premier contract manufacturer in the medical device market [4] Group 3: Company Overview - Interlink Electronics is a leading provider of sensor technology and printed electronic solutions, with 40 years of experience serving diverse markets including medical, industrial, automotive, and IoT [5] - The company operates from multiple locations, including its headquarters in Fremont, California, and manufacturing facilities in Shenzhen, China; Irvine, Scotland; and Barnsley, England [6]

Core Insights - Interlink Electronics, Inc. has appointed Darren Whittaker as the European Business Development Director to support its organic growth strategy in Europe [1] - Whittaker brings over 20 years of sales experience in high-tech sectors, having previously increased revenue by 8.3 times at Teledyne FLIR [2] - The company aims to drive significant growth across its technology offerings globally, as stated by CEO Steven Bronson [4] Company Overview - Interlink Electronics is a leader in sensor technology and printed electronics solutions, with 40 years of experience serving diverse markets including medical, industrial, automotive, wearables, and IoT [4] - The company operates from multiple locations, including its headquarters in Fremont, California, and manufacturing facilities in Shenzhen, China, Irvine, Scotland, and Barnsley, England [5] - Interlink's expertise encompasses materials science, manufacturing, embedded electronics, firmware, and software, allowing for tailored solutions for customers [4]