Financial Data and Key Metrics Changes - First quarter net income declined to $2.3 million or $0.13 per share, primarily due to strategic actions taken to address non-performing assets [3] - Non-performing assets were reduced by 20% and net exposure to non-performing loans decreased by 32% to $51 million [3] - Net interest income before provisions increased for the third consecutive quarter to $26.2 million [8] - Net interest margin increased by 12 basis points to 2.88% due to a decline in the cost of interest-bearing deposits [6][10] Business Line Data and Key Metrics Changes - Loans held for investment grew by $90 million or 12% on an annualized basis, driven by growth in commercial, SBA, and SFR balances [5] - Total first quarter loan originations amounted to $201 million at a blended yield of 6.77% [6] - Non-interest income declined by $4.34 million to $2.3 million due to lower gains on the sale of loans [10] Market Data and Key Metrics Changes - Total deposits increased at an 8% annualized rate to $3.14 billion, with growth in money market accounts and CDs offsetting a decline in non-interest bearing accounts [13] - The loan portfolio yield remained stable at 6.03% [12] Company Strategy and Development Direction - The company is focusing on resolving non-performing loans quickly while minimizing the impact on earnings and capital [3] - There is an ongoing effort to reduce reliance on wholesale funding, with a successful CD campaign in the first quarter [46] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in resolving remaining non-performing assets and expects to report additional progress in upcoming quarters [4] - The company anticipates continued loan growth, albeit at a more moderate pace than the first quarter [6] - Management believes that by the second half of 2025, there could be a target for reducing non-performing loans to a normal baseline [54] Other Important Information - The company’s tangible book value per share increased to $24.63 [13] - Capital ratios remain strong, with all capital ratios above regulatory well-capitalized levels [14] Q&A Session Summary Question: Thoughts on potential share repurchase - Management recognizes that a buyback is one of the best uses of excess capital and is working to put a buyback in place [19] Question: Dynamics within the margin and FHLB advances - The FHLB advances are fully priced into the March net interest margin, and the net interest margin is slightly below the quarter's average [21] Question: Margin drag from non-accrual loans - There is a drag on net interest margin from non-accrual loans, with $20 million potentially returning to accrual status [24] Question: Appetite for more problem loan sales - Management is open to sales but believes they are well reserved for future write-offs [29] Question: Exposure to tariff impacts - Management has reached out to top customers and does not observe any potential financial impact from tariffs at this time [34] Question: Loan growth expectations and deposit trends - Management expects to fund loan growth organically and noted some migration into higher-yielding products [46] Question: Non-interest expenses outlook - Management estimates operating expenses to be around $17.5 million to $18 million, with some moderation expected [66]

Core Viewpoint - Sound Financial Bancorp, Inc. reported a net income of $1.2 million for Q1 2025, a decrease from $1.9 million in Q4 2024, but an increase from $770 thousand in Q1 2024, alongside a cash dividend declaration of $0.19 per share [1][2][40] Financial Performance - Total assets increased by $75.6 million or 7.6% to $1.07 billion at March 31, 2025, compared to $993.6 million at December 31, 2024, but decreased by $17.5 million or 1.6% from $1.09 billion at March 31, 2024 [6] - Loans held-for-portfolio decreased by $13.9 million or 1.5% to $886.2 million at March 31, 2025, compared to $900.2 million at December 31, 2024, and decreased by $11.7 million or 1.3% from $897.9 million at March 31, 2024 [6][33] - Total deposits increased by $72.5 million or 8.7% to $910.3 million at March 31, 2025, from $837.8 million at December 31, 2024, but decreased by $6.5 million or 0.7% from $916.9 million at March 31, 2024 [7] Income and Expenses - Net interest income decreased by $149 thousand or 1.8% to $8.1 million for Q1 2025, compared to $8.2 million for Q4 2024, but increased by $611 thousand or 8.2% from $7.5 million for Q1 2024 [9] - Total noninterest income decreased by $62 thousand or 5.3% to $1.1 million for Q1 2025, compared to Q4 2024, and was virtually unchanged compared to Q1 2024 [11][24] - Total noninterest expense increased by $856 thousand or 12.1% to $7.9 million for Q1 2025, compared to Q4 2024, and increased by $258 thousand or 3.4% compared to Q1 2024 [11][25] Credit Quality - Total nonperforming loans increased by $2.2 million or 28.9% to $9.7 million at March 31, 2025, from $7.5 million at December 31, 2024, and increased by $600 thousand or 6.6% from $9.1 million at March 31, 2024 [8] - The allowance for credit losses on loans to total loans outstanding was 0.95% at March 31, 2025, compared to 0.94% at December 31, 2024, and 0.96% at March 31, 2024 [10][35] Capital Management - Stockholders' equity totaled $104.4 million at March 31, 2025, an increase of $765 thousand or 0.7% from $103.7 million at December 31, 2024, and an increase of $3.4 million or 3.4% from $101.0 million at March 31, 2024 [40]

Southside Bancshares (SBSI) Q1 2025 Earnings Call April 29, 2025 04:39 PM ET Speaker0 Good day, and thank you for standing by. Welcome to the Southside Bancshares Inc. First Quarter twenty twenty five Earnings Call. At this time, all participants are in a listen only mode. After the speakers presentation, there'll be a question and answer session. To ask a question during the session, you'll need to press 11 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw ...

RBB Bancorp (RBB) Q1 2025 Earnings Call April 29, 2025 02:00 PM ET Company Participants David Morris - Director & CEOJohnny Lee - President & CEOLynn Hopkins - Executive VP & CFOBrendan Nosal - DirectorAndrew Terrell - Managing DirectorKelly Motta - MD - Equity ResearchTimothy Coffey - MD & Associate Director of Depository Research Conference Call Participants Rebeca Rico - AVP & Financial AnalystMatthew Clark - MD & Senior Research Analyst Operator Day, everyone, and welcome to the RBB Bancorp First Quarte ...

RBB Bancorp (RBB) Q1 2025 Earnings Call April 29, 2025 02:00 PM ET Company Participants David Morris - Director & CEOJohnny Lee - President & CEOLynn Hopkins - Executive VP & CFOBrendan Nosal - DirectorAndrew Terrell - Managing DirectorKelly Motta - MD - Equity ResearchTimothy Coffey - MD & Associate Director of Depository Research Conference Call Participants Rebeca Rico - AVP & Financial AnalystMatthew Clark - MD & Senior Research Analyst Operator Day, everyone, and welcome to the RBB Bancorp First Quarte ...

Five Star Bancorp (FSBC) Q1 2025 Earnings Call April 29, 2025 01:00 PM ET Company Participants James Beckwith - President & CEOHeather Luck - Executive Vice President & CFOAndrew Terrell - Managing DirectorLiam Coohill - Senior Equity Research Associate Conference Call Participants Gary Tenner - MD & Senior Research Analyst Operator Please note, this is a closed conference call and you are encouraged to listen via the webcast. After today's presentation, there will be an opportunity for those provided with ...

Five Star Bancorp (FSBC) Q1 2025 Earnings Call April 29, 2025 01:00 PM ET Company Participants James Beckwith - President & CEOHeather Luck - Executive Vice President & CFOAndrew Terrell - Managing DirectorLiam Coohill - Senior Equity Research Associate Conference Call Participants Gary Tenner - MD & Senior Research Analyst Operator Please note, this is a closed conference call and you are encouraged to listen via the webcast. After today's presentation, there will be an opportunity for those provided with ...

Financial Data and Key Metrics Changes - FBRT reported GAAP earnings of $23.7 million or $0.20 per diluted common share for Q1 2025, while distributable earnings were negative $6.2 million or negative $0.12 per fully converted share [15] - Distributable earnings before realized losses were $31.9 million or $0.31 per fully converted common share [15] - The book value per fully converted common share at the end of the quarter stood at $14.95, reflecting a decrease primarily due to dividend payouts exceeding earnings [18] Business Line Data and Key Metrics Changes - The company originated $341 million in new loan commitments during Q1 2025, with multifamily loans accounting for 79% of total origination volume [18] - Loan repayments totaled $353 million, predominantly from loans originated in 2021 and 2022 [18] - The average cost of debt on the core portfolio was SOFR plus 2.18% [19] Market Data and Key Metrics Changes - The core portfolio totaled $4.8 billion at quarter end, comprised of 152 loans, with multifamily securing 71% of the portfolio [23] - The average risk rating at quarter end was 2.2, with 146 of 152 positions risk-weighted at two or three [12] Company Strategy and Development Direction - The pending acquisition of NewPoint is expected to provide meaningful synergies and aligns with the strategic focus on the multifamily sector, enhancing earnings quality and consistency [13] - The company aims to recycle the bulk of its legacy book into current vintage loans, positioning itself for sustained growth [13] Management's Comments on Operating Environment and Future Outlook - Management expressed excitement about the NewPoint acquisition, viewing it as a catalyst for long-term value creation [13] - The company anticipates challenges in dividend coverage in the near term due to REO and non-performing loan portfolios, but believes in its long-term earning power [17] Other Important Information - The company has a liquidity position of $913 million, including $215 million in unrestricted cash [12] - The REO portfolio stood at 12 positions at quarter end, with plans to liquidate assets for optimal recovery [28] Q&A Session Summary Question: Plans for loan portfolio and REO proceeds - Management indicated that any new capital from REO sales would be proactively reinvested into new originations as soon as possible [35] Question: Impact of NewPoint acquisition on expenses - Expenses in Q1 included transaction costs related to NewPoint and REO expenses, which elevated overall costs [36] Question: Dividend sustainability and REO impact - Management is monitoring how quickly REO assets can be turned over and the potential impact of market volatility on dividend coverage [46][47] Question: Originations and deal flow - Management noted that while originations were paused for cash gathering for NewPoint, they expect to resume soon with a consistent deal flow available [55][58] Question: Changes at Fannie, Freddie, and HUD - Management expressed uncertainty about government actions but highlighted the unique opportunity presented by the NewPoint acquisition to build a competitive multifamily lending platform [62] Question: Agency business revenue contribution - Management did not disclose specific percentages for agency business revenue at close but indicated more details would be provided in the future [79]

Southside Bancshares (SBSI) Q1 2025 Earnings Call April 29, 2025 12:00 PM ET Company Participants Lindsey Bailes - VP & Investor Relations OfficerLee Gibson - President and CEOKeith Donahoe - PresidentJulie Shamburger - CFOBrett Rabatin - Director of ResearchWoody Lay - Vice PresidentTim Mitchell - Equity Research AssociateMatt Olney - Managing Director Operator Good day, and thank you for standing by. Welcome to the Southside Bancshares Inc. First Quarter twenty twenty five Earnings Call. At this time, all ...

FirstSun Capital (FSUN) Q1 2025 Earnings Call April 29, 2025 11:00 AM ET Company Participants Ed Jacques - Director of Investor Relations & Business DevelopmentNeal Arnold - CEO, President, COO & DirectorRobert Cafera - Senior EVP & CFOWoody Lay - Vice PresidentTim Mitchell - Equity Research AssociateMatt Olney - Managing Director Conference Call Participants Matthew Clark - MD & Senior Research Analyst Operator Good morning, and welcome to the First Sun Capital Bancorp First Quarter twenty twenty five Earn ...