Core Viewpoint - Cadence Bank's Board of Directors has authorized a new share repurchase program allowing the purchase of up to 10 million shares of its common stock, pending Federal Reserve approval, with an expiration date set for December 31, 2025 [1][2]. Group 1: Share Repurchase Program Details - The Repurchase Program allows for shares to be purchased periodically in open market transactions, privately negotiated transactions, or other means in compliance with federal securities laws [2]. - The program can be extended, modified, amended, suspended, or discontinued at the discretion of Cadence's Board of Directors, and does not obligate the company to repurchase shares [2]. - The actual means of purchase, timing, target number of shares per purchase, and maximum price will be determined by management based on various factors including capital position, liquidity, financial performance, market price, and economic conditions [2]. Group 2: Company Overview - Cadence Bank is a regional financial services company with assets totaling $50 billion, operating over 350 locations across the South and Texas [4]. - The bank offers a wide range of services including banking, investment, trust, and mortgage products to meet the needs of individuals, businesses, and corporations [4]. - Cadence has received accolades such as being recognized as one of the nation's best employers and as one of America's Best Banks in 2025 by Forbes [4].

Financial Data and Key Metrics Changes - The company achieved AFFO of $0.44 per diluted share for Q1 2025, representing growth of approximately 5% compared to Q1 2024 [5] - Total revenue was $14.2 million for the quarter, including lease income of $11.8 million and interest income from commercial loans of $2.3 million [13] - FFO and AFFO for the quarter were both $0.44 per diluted share, representing growth of 7.3% and 4.8% respectively compared to the same quarter of the prior year [13] - The company increased its common dividend to a new quarterly rate of $0.285, continuing its practice of annual dividend increases since its IPO [6][17] Business Line Data and Key Metrics Changes - The company acquired three properties for $39.7 million at a weighted average initial cap rate of 8.6% and originated two mortgages totaling $39.5 million with a weighted average initial yield of 9.5% [7][8] - Total investment activity for the quarter, including property acquisitions and structured finance investments, totaled $79.2 million at a weighted average initial yield of 9% [7] - The average WALT for acquisitions was 14.3 years, while properties sold had a WALT of 4.7 years, resulting in a portfolio WALT decrease to 9 years from 6.9 years a year ago [10][11] Market Data and Key Metrics Changes - The company noted that it is well-positioned given its tenant mix and sector diversification amidst recent tariff volatility and uncertainty [12] - The company has a pipeline of opportunities across the tenant landscape and remains focused on executing its strategy for growth and stability [12] Company Strategy and Development Direction - The company is focused on a strategic approach to investing, which includes acquiring a mix of high credit tenants for stable cash flows and lesser credits for growth and diversification [10] - The company is actively managing its portfolio by opportunistically selling properties to reduce risk and improve tenant concentrations [10] - The company plans to continue balancing between share buybacks, acquisitions, and investments throughout the year [30] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate the current operating environment, noting no significant disruptions from tariff issues [38] - The company is increasing its FFO and AFFO guidance for the full year of 2025 to a range of $1.74 to $1.77 per diluted share, driven by successful investment activity [18] - Management highlighted that they do not anticipate having more leverage by the end of the year and may even reduce it [92] Other Important Information - The company ended the quarter with net debt to pro forma adjusted EBITDA of 7.9 times and had $65 million of liquidity available [15][16] - The company has no debt maturing until 2026, with staggered maturities thereafter [16] Q&A Session Summary Question: Factors driving the AFFO guidance raise - Management identified three main factors: stock buybacks, a swap that reduced interest rates, and investment activity [22][24] Question: Clarification on investment guidance - Management explained that the increase in investment guidance reflects funding for loans and property acquisitions, with a total of about $60 million funded in the quarter [26] Question: Future capital allocation priorities - Management indicated a balanced approach between buybacks, acquisitions, and investments, depending on market conditions [30] Question: Impact of tariffs on tenant activity - Management noted no significant disruptions in tenant activity due to tariffs, with strong performance from restaurants and other sectors [38] Question: Cap rates for future dispositions - Management suggested that future dispositions may have lower cap rates due to the mix of properties being sold [49] Question: Status of Family Dollar and Dollar Tree locations - Management confirmed they have about 31 locations, with a mix of Family Dollar and Dollar Tree properties [58] Question: Provision for impairment charge - Management clarified that the impairment charge was related to properties anticipated to be sold soon, such as Walgreens [80] Question: Timing of funding unfunded commitments - Management indicated that funding timing for loans should remain consistent for the first half of the year [86] Question: Leverage trends and expectations - Management expects to maintain or reduce leverage by year-end, despite recent increases [92]

VeriSign (VRSN 8.43%) shares took off Friday morning after the company released first-quarter earnings and declared a dividend for the first time. Its solid results also allowed the company to raise revenue guidance for the full year.Investors jumped into what has been one of the big stock market winners so far this year. Shares jumped 9.3% higher as of 11:35 a.m. ET, giving the stock a gain of 33% year to date.VeriSign is a big Warren Buffett holdingThe initiation of a quarterly cash dividend surely made s ...

Financial Data and Key Metrics Changes - The company reported a net income of $24.7 million or $0.46 per diluted share for Q1 2025, with an annualized return on average assets of 94 basis points and an annualized return on average tangible common equity of 11.48% [10] - Net interest income decreased to $99.3 million from $103 million in the previous quarter, resulting in a net interest margin of 4.2%, down from 4.25% [11][12] - Non-interest expenses decreased to $70.2 million from $75.3 million in the previous quarter, reflecting a reduction of $5.1 million [13] Business Line Data and Key Metrics Changes - The company experienced a provision for loan losses of $3.6 million, with minimal net charge-offs of $163,000, increasing the allowance for credit losses on loans to $83.7 million, or 1.15% of loans [13] - Non-interest income increased to $5.5 million from $5 million in the previous quarter, benefiting from small gains on asset sales [13] Market Data and Key Metrics Changes - The company noted a competitive market for deposits, with a focus on new account origination, onboarding more accounts in both number and dollar amount compared to the previous quarter [31][32] - The company maintained a strong proportion of non-interest bearing deposits, representing over 37% of the deposit base, and achieved a 14 basis point improvement in the cost of funds [12] Company Strategy and Development Direction - The company aims to build a strong foundation for growth, focusing on customer acquisition and managing capital to benefit shareholders through share repurchases [7][8] - The management expressed a cautious approach to growth due to economic uncertainty, anticipating growth to be pushed to the latter half of the year [9] Management's Comments on Operating Environment and Future Outlook - Management acknowledged economic uncertainty introduced by the administration but remains optimistic about opportunities for new customer acquisition and growth in the second half of the year [7][9] - The management emphasized a disciplined approach to credit monitoring in light of new tariff policies affecting customers [7] Other Important Information - The company repurchased 1.4 million shares at a weighted average price of $27.99 per share during the first quarter, with a new share repurchase program authorized for up to $65 million through May 2026 [15] - Year-over-year tangible book value per share increased by 14.3% from $17.23 to $19.69, after accounting for dividends and share repurchases [14] Q&A Session Summary Question: Client sentiment and loan pipeline trends - Management noted a cautious optimism regarding loan growth, with a focus on reconfiguring the loan book to reduce reliance on smaller real estate loans [22][23] - The loan originations in Q1 were solid, supporting a positive outlook for the pipeline and deal flow [26] Question: Competitive deposit market - Management highlighted the intense competition in the deposit market, with successful onboarding of new accounts and a low level of closed accounts [30][31] Question: Credit migration and concerns - Management reported migration in non-accruals primarily in owner-occupied commercial real estate, but did not attribute it to tariffs, indicating a cautious approach to new credits [35][36] Question: Capital management and buyback strategy - Management discussed the ongoing evaluation of capital use, including potential debt redemption and the flexibility to pursue M&A opportunities [44][46] Question: Expense trends and outlook - Management cautioned against annualizing the first quarter's expenses, indicating a focus on managing costs while investing in growth [68]

Financial Data and Key Metrics Changes - The company reported a net income of $24.7 million or $0.46 per diluted share, with an annualized return on average assets of 94 basis points and an annualized return on average tangible common equity of 11.48% [10] - Net interest income for the quarter was $99.3 million, a decrease from $103 million in the previous quarter, resulting in a net interest margin of 4.2% compared to 4.25% in the fourth quarter of 2024 [11][12] - Non-interest expense decreased to $70.2 million from $75.3 million in the previous quarter, reflecting a focus on managing expenses [13] Business Line Data and Key Metrics Changes - The company experienced a provision for loan losses of $3.6 million, with minimal net charge-offs of $163,000, bringing the allowance for credit losses on loans to $83.7 million or 1.15% of loans [13] - Non-interest income increased to $5.5 million from $5 million in the previous quarter, benefiting from small gains on asset sales [13] Market Data and Key Metrics Changes - The company noted a competitive market for deposits, with a focus on new account origination, onboarding more accounts in both number and dollar amount compared to the previous quarter [30][31] - The company maintained a strong proportion of non-interest bearing deposits, representing over 37% of the deposit base, and achieved a 14 basis point improvement in the cost of funds [12] Company Strategy and Development Direction - The company aims to build a strong foundation for growth while managing capital to benefit shareholders, including share repurchases totaling 1.4 million shares at an average price of $27.99 [15][17] - The management expressed a cautious but optimistic outlook for growth, expecting it to be pushed to the latter half of the year due to current economic uncertainties [9][11] Management's Comments on Operating Environment and Future Outlook - Management acknowledged economic uncertainty introduced by the administration but noted no immediate signs of impact on their communities [7] - The company remains focused on customer acquisition and is optimistic about the growth potential in the second half of the year, despite challenges [9][28] Other Important Information - The total risk-based capital ratio was 15.94% at the end of the first quarter, slightly down from 16% at the end of 2024, but the regulatory capital ratios at the bank increased year-over-year [14] - The Board of Directors authorized a new share repurchase program allowing up to $65 million in shares to be repurchased through May 2026 [15] Q&A Session Summary Question: What is the current sentiment from clients regarding loan growth? - Management indicated a cautious optimism about potential loan growth, noting that the pipeline is building positively and that payoffs have been significant, around $275 million to $300 million per quarter [22][27] Question: Can you elaborate on the competitive deposit market? - Management confirmed that the market is intensely competitive, but they have successfully onboarded new accounts, with a significant portion being new customers [30][31] Question: What are the current trends in credit quality? - Management noted some migration in non-accruals, particularly in owner-occupied commercial real estate, but emphasized a cautious approach to credit evaluation [34][37] Question: What are the company's plans regarding capital management? - Management stated they are considering various options for capital utilization, including potential debt redemption and continued share buybacks, while remaining open to M&A opportunities [44][46] Question: How do you see the interest margin evolving? - Management expressed a goal to achieve a core net interest margin of over 4%, while acknowledging that improvements may be incremental due to current economic conditions [56][58]

ZEELAND, Mich., April 25, 2025 (GLOBE NEWSWIRE) -- Gentex Corporation (NASDAQ: GNTX), a leading supplier of digital vision, connected car, dimmable glass, fire protection technologies, medical devices, and consumer electronics, today reported financial results for the three months ended March 31, 2025. 1st Quarter 2025 Summary Net sales of $576.8 million, a 2% decrease compared to the first quarter of 2024, versus light vehicle production that was down 3% quarter over quarter in the Company's primary market ...

SkyWest (SKYW) Q1 2025 Earnings Call April 25, 2025 12:51 AM ET Company Participants Robert Simmons - Chief Financial OfficerEric Woodward - CAOChip Childs - CEO, President and DirectorWade Steel - CCOSavanthi Syth - MD - Airlines & Advance Air MobilityDuane Pfennigwerth - Senior MDTom Fitzgerald - VP - Equity Research Conference Call Participants Catherine O'Brien - AnalystMichael Linenberg - Analyst Operator Ladies and gentlemen, thank you for standing by. My name is John, and I will be your conference op ...

SkyWest, Inc. (NASDAQ:SKYW) Q1 2025 Earnings Conference Call April 24, 2025 3:30 AM ET Company Participants Rob Simmons - Chief Financial Officer Eric Woodward - Chief Accounting Officer Chip Childs - President and Chief Executive Officer Wade Steel - Chief Commercial Officer Conference Call Participants Catherine O'Brien - Goldman Sachs Savi Syth - Raymond James Mike Linenberg - Deutsche Bank Duane Pfennigwerth - Evercore ISI Tom Fitzgerald - TD Cowen Operator Ladies and gentlemen, thank you for standing b ...

Financial Data and Key Metrics Changes - Net income for Q1 2025 was $25 million or $0.81 per diluted share, while core net income was $27.1 million or $0.88 per diluted share, reflecting the sustainability of earnings [24][25] - Core earnings per share was $0.88, supported by net interest income of $70.6 million, which was within the guidance range [12][24] - The tangible book value per share increased by 4% to $23.51, while core revenue per diluted share decreased by $0.10 to $2.57 [26] - The CET1 ratio improved by 43 basis points to 14.32%, indicating a strong capital position [28] Business Line Data and Key Metrics Changes - Total loans receivable increased by $7 million to $4.6 billion, driven by increases in multifamily and commercial industrial loans [38] - Political deposits grew by $103 million or 11% to $1.1 billion, consistent with historical patterns post-election [15][32] - Core non-interest income decreased to $9.1 million from $9.5 million, primarily due to lower commercial banking fees [42] Market Data and Key Metrics Changes - Total deposits increased by $446 million to $7.6 billion, with on-balance sheet deposits rising by 3.2% [31][32] - Non-interest-bearing deposits decreased to 39% of average ending deposits, while average cost of deposits increased by seven basis points to 159 basis points [33] Company Strategy and Development Direction - The company plans to maintain a conservative approach amid uncertain economic conditions, focusing on strong capital and liquidity [17][18] - A new $40 million share repurchase program was authorized, indicating a commitment to returning capital to shareholders [30][68] - The company is expanding its commercial PACE franchise, expecting C-PACE originations to ramp up to $15 to $20 million per quarter in the latter half of the year [20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in revenue growth and margin expansion for the remainder of the year, despite modest declines in core earnings and revenue [13][14] - The company anticipates C&I loan growth to remain muted in Q2, with reacceleration expected in the latter half of the year [18] - Management highlighted the importance of maintaining a strong credit profile and higher liquidity levels due to potential impacts from federal funding reductions [17][18] Other Important Information - The company is planning a move to a new headquarters in New York City by mid-2026, aimed at attracting and retaining top talent [21][22] - Nonperforming assets totaled $33.9 million, representing an increase driven by commercial industrial nonaccrual loans [46] Q&A Session Summary Question: Details on the $8.3 million loan that went on nonaccrual - Management indicated that the loan is in the solar sector and has sufficient collateral value, allowing them to maintain reserve coverage [54][56] Question: Impact of funding for clean energy projects - Management confirmed that there is no observed decline in funding for clean energy projects, with a strong pipeline continuing [58][60] Question: Concerns about political challenges affecting the bank - Management emphasized their focus on core business growth and maintaining strong capital and liquidity to navigate potential challenges [64][66] Question: Update on the political deposit franchise outlook - Management reported strong deposit performance with 11% growth in political deposits, consistent with historical trends [77][78] Question: Utilization of off-balance sheet strategies - Management explained that off-balance sheet strategies will be used as appropriate to manage balance sheet growth and maintain net interest income [84][86] Question: Expectations for expenses and digital transformation projects - Management confirmed that expenses are expected to ramp up throughout the year, with a focus on digital transformation and hiring plans [91][92] Question: Tangible impacts from the new administration - Management stated that they have not seen tangible impacts on lending or deposits but are closely monitoring potential risks [96][99]

Boyd Gaming (BYD) Q1 2025 Earnings Call April 24, 2025 05:00 PM ET Company Participants David Strow - Vice President of Corporate CommunicationsKeith Smith - President and CEOJosh Hirsberg - Executive VP, CFO & TreasurerDavid Katz - Managing DirectorSteve Wieczynski - Managing DirectorMax Marsh - Equity Research AssociateBarry Jonas - Managing Director Conference Call Participants Carlo Santarelli - AnalystShaun Kelley - Senior Research Analyst & MD - Gaming, Lodging & Leisure EquitiesJordan Bender - Senior ...