Core Insights - Great Southern Bancorp reported higher earnings for both the fourth quarter and full year of 2025, driven by stable core operations, strong credit quality, and capital deployment strategies including share repurchases [4][3] Financial Performance - Net interest income for Q4 2025 was $49.2 million, a decrease of $371,000 from the prior year and down from $50.8 million in Q3 2025, primarily due to the termination of an interest rate swap that previously contributed approximately $2 million in income [2][4] - Full year net income for 2025 reached $71.0 million, or $6.19 per diluted share, compared to $61.8 million, or $5.26 per diluted share, in 2024 [3] - Q4 net income was $16.3 million, or $1.45 per diluted share, an increase from $14.9 million, or $1.27 per diluted share, in the same quarter of the previous year [3][7] Interest Income and Expenses - Interest income fell to $73.4 million from $82.6 million a year earlier, attributed to the impact of swaps, lower average loan balances, and reduced market interest rates [1] - Interest expense totaled $24.3 million, with management noting a decline in funding costs as deposit and borrowing costs moderated [1] Asset and Loan Quality - Total assets decreased to $5.60 billion and total loans declined to $4.36 billion, influenced by elevated payoff activity, particularly in multifamily and construction loans [6][9] - Non-performing assets were reported at 0.15% of total assets, with no loan-loss provision required for 2025 [5][13] Capital Management - The company repurchased 241,000 shares in Q4 at an average price of $59.33, totaling 755,000 shares for the full year at an average price of $58.35 [18][19] - Total stockholders' equity increased to $636.1 million at year-end, up from $599.6 million in 2024, with a book value per share of $57.50 [17] Dividend and Shareholder Returns - A quarterly cash dividend of $0.43 per share was declared for Q4, with total regular dividends for 2025 amounting to $1.66 per share [18] Outlook and Challenges - Management indicated that loan growth in 2026 is expected to be challenging, primarily due to difficulties in forecasting payoffs and borrower decisions [11][12]

Financial Data and Key Metrics Changes - For Q4 2025, the company reported net income of $16.3 million or $1.45 per diluted common share, an increase from $14.9 million or $1.27 per diluted common share in Q4 2024 [3][10] - Full-year net income for 2025 totaled $71 million or $6.19 per diluted common share, up from $61.8 million or $5.26 per diluted common share in 2024 [10][18] - Net interest income for Q4 2025 was $49.2 million, a slight decrease of $371,000 or 0.7% compared to Q4 2024 [4][11] - Non-interest income increased to $7.2 million in Q4 2025 from $6.9 million in Q4 2024 [13][14] - Non-interest expense decreased to $36 million in Q4 2025, down 2.6% from $36.9 million in Q4 2024 [8][14] Business Line Data and Key Metrics Changes - Net loans receivable at year-end totaled $4.336 billion, a decline of $333.5 million or 7.1% from the previous year, primarily due to elevated payoff activity [5][16] - Total deposits decreased by $122.8 million or 2.7% to $4.48 billion at year-end 2025, driven by a decline in brokered deposits [6][17] - Core deposits remained stable, with a notable increase in interest-bearing checking accounts by $75 million [7][17] Market Data and Key Metrics Changes - Non-performing assets represented 0.15% of total assets at year-end, consistent with both the linked quarter and prior year quarter [7][17] - The company maintained strong liquidity with cash and cash equivalents totaling $189.6 million and access to approximately $1.63 billion in additional borrowing capacity [16][18] Company Strategy and Development Direction - The company remains focused on preserving net interest margins, protecting credit quality, controlling non-interest expenses, and opportunistically repurchasing stock [3][9] - The management emphasized a conservative underwriting posture and maintaining strong capital and liquidity levels to navigate economic challenges [9][19] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges in loan growth due to elevated payoffs but expressed confidence in the strength of their loan portfolio and ongoing efforts to originate new loans [30][39] - The company does not expect significant changes in net interest margins in the near term, with a slight bias towards potential increases depending on market conditions [28][29] Other Important Information - Stockholders' equity increased to $636.1 million at year-end 2025, representing 11.4% of total assets, with a book value per common share of $57.50 [18][19] - The board declared a regular quarterly cash dividend of $0.43 per common share, consistent with the previous quarter [20] Q&A Session Summary Question: Margin outlook for 2026 - Management noted that they performed better than expected in Q4 2025, managing funding costs effectively, but did not anticipate significant margin increases moving forward [24][25][28] Question: Loan growth expectations - Management indicated that loan growth would remain challenging due to ongoing payoffs, but they are actively generating new loans [30][32][39] Question: Expense expectations for 2026 - Management acknowledged that expenses may increase due to annual salary adjustments and payroll tax resets [33]

Core Viewpoint - South Atlantic Bancshares, Inc. reported strong financial performance for the fourth quarter and full year of 2025, with record net income and significant growth in key financial metrics, indicating a robust banking strategy and effective balance sheet management [1][3]. Financial Highlights - The company achieved consolidated net income of $4.8 million, or $0.62 per diluted common share, for Q4 2025, up from $4.4 million, or $0.57 per diluted common share, in Q3 2025 [1][5]. - For the year ended December 31, 2025, net income totaled $16.2 million, a 60.8% increase from $10.1 million in 2024 [5][6]. - Return on average assets for Q4 2025 was 1.02%, while return on average equity was 14.25% [5][25]. Balance Sheet Performance - Total assets increased by $130 million to $1.9 billion, a 7.3% rise from the previous year [13][6]. - Total loans grew by $127.5 million, or 9.5%, and total deposits increased by $93.7 million, or 6.4%, year-over-year [6][14]. - Tangible book value per share rose by $2.58, or 18.0%, to $16.88 as of December 31, 2025 [16][15]. Income and Expense Analysis - Net interest income for Q4 2025 increased by $2.7 million, or 22.5%, compared to Q4 2024, driven by higher interest income from loans [7][8]. - Noninterest income decreased by $217,000, or 11.5%, in Q4 2025 compared to Q4 2024, primarily due to a decline in other income [9][10]. - Noninterest expense increased by $494,000, or 5.3%, in Q4 2025 compared to the same period in 2024, mainly due to higher salaries and employee benefits [9][10]. Credit Quality - The company reported no loans classified as non-accrual and no loans past due greater than 30 days as of December 31, 2025, indicating strong credit quality [21][22]. - A provision for credit losses of $600,000 was recorded in Q4 2025, compared to $450,000 in Q3 2025 [21][22]. Regulatory Capital Position - The bank's capital position remains strong, with a total risk-based capital ratio of 12.18% and a leverage ratio of 9.19% as of December 31, 2025, exceeding regulatory requirements [26].

Financial Data and Key Metrics Changes - Independent Bank Corporation reported Q4 2025 net income of $18.6 million or $0.89 per diluted share, compared to $18.5 million or $0.87 per diluted share in the prior year period [3] - For the full year 2025, net income was $68.5 million or $3.27 per diluted share, up from $66.8 million or $3.16 per diluted share in 2024 [3] - Net interest income increased by $1 million or 2.2% over Q3 2025, with a net interest margin of 3.62%, up eight basis points from the previous quarter [4] - Return on average assets and return on average equity were 1.35% and 14.75% respectively [4] - The tangible common equity ratio increased to 8.65% [4] Business Line Data and Key Metrics Changes - Total loans grew by $78 million or 7.4% annualized in Q4 2025, with a full-year increase of $237 million or 5.9% [8] - The commercial loan portfolio led growth with $276 million or 14.2%, while residential mortgage grew by $7.2 million and installment loans decreased by $17 million [8] - The bank added a net of five experienced bankers to its commercial banking team during the year [8] Market Data and Key Metrics Changes - Deposits totaled $4.8 billion at December 31, 2025, an increase of $107.6 million from December 31, 2024 [5] - The deposit base comprised 47% retail, 37% commercial, and 16% municipal, with all three portfolios up year-over-year [6] - Business deposits increased by $20.4 million, while retail deposits increased by $64.1 million, offset by a $28.6 million decrease in municipal deposits [6] Company Strategy and Development Direction - The company aims to continue investing in its team and technology while striving to be Michigan's most people-focused bank [23] - A robust commercial loan pipeline and strategic initiatives to attract talented bankers are key components of the company's growth strategy [5] - The company anticipates loan growth in the mid-single-digit range for 2026, with a focus on commercial loans [19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to manage through various economic environments and deliver strong results [23] - The outlook for 2026 includes expectations for net interest income growth of 7%-8% and net interest margin expansion of 5-7 basis points in Q1 2026 [19] - The company expects a provision expense for allowance for credit losses of approximately 20-25 basis points of average portfolio loans [19] Other Important Information - The dividend payout ratio for the year was 32%, with a $0.26 per share dividend paid in November 2025 [4] - Non-interest income totaled $12 million in Q4 2025, down from $19.1 million in the year-ago quarter [16] - The company executed a tax credit transfer agreement expected to reduce tax obligations and enhance earnings per share [5] Q&A Session Summary Question: Market outlook in Michigan and banker additions - Management expects to add a net of four to five bankers in 2026, with opportunities in Southeast Michigan due to M&A dislocation [25] Question: Loan growth outlook - The company anticipates mid-single-digit loan growth due to a focus on commercial loans, with a projected shrinkage in the consumer portfolio [26][27] Question: Margin guidance - Management forecasts a margin expansion of five to seven basis points in Q1 2026, with three to five basis points in subsequent quarters [30] Question: Capital management and M&A interest - The company is excited about its capital position, allowing flexibility for share repurchases and potential M&A opportunities, though not a requirement for success [32][35] Question: Charge-off expectations - Management expects charge-offs to remain low, similar to recent history, with a provision of 20-25 basis points [47]

Core Insights - The company reported positive momentum in Q3, with revenue growth, improved credit metrics, and a productive balance sheet, despite slightly elevated expenses expected to normalize by 2025 [1][3][20] - Strategic actions initiated in Q4 aim to enhance long-term shareholder value and improve operating performance [1][17][25] Financial Performance - Q3 results showed a solid average loan growth of 10% annualized, driven by strong net interest income and fee income [3][5] - Commercial loans increased by $9.5 million, reflecting a 1.3% annualized growth, while consumer loan balances decreased by $43 million due to a planned reduction in indirect auto loans [5][7] - The net interest margin (NIM) improved to 2.66%, marking the fourth consecutive quarter of sequential margin improvement, with expectations for further expansion in Q4 [12][21] Deposit Trends - The deposit portfolio exhibited solid growth, with stability in core noninterest-bearing balances, benefiting from commercial and consumer deposit gathering efforts [2][11] - The company anticipates that its deposit portfolio will remain stable, focusing on core retail and commercial customers [21][25] Credit Quality - Commercial credit quality remains strong, with past dues at three basis points and a nonperforming loan ratio of 24 basis points [6][7] - The allowance for credit losses increased to $52.9 million, reflecting adjustments for economic forecasts, with a modest increase in specific reserves [9][10] Strategic Initiatives - The company plans to sell approximately $325 million in securities and intends to sell its mortgage warehouse business, aiming to improve structural profitability and simplify its business model [17][18] - Proceeds from the securities sales are expected to enhance the net interest margin and tangible book value per share [18][19] Outlook - The company expects total loan balances to remain relatively unchanged, with core commercial growth offset by the runoff of the indirect auto portfolio [20][21] - Anticipated NIM expansion of 15 to 20 basis points in Q4 is expected to drive an increase in net interest income in the upper single-digit percentage range compared to Q3 [21][22]

Financial Data and Key Metrics Changes - Atlantic Union Bankshares reported a net income of $109 million for Q4 2025, with earnings per common share at $0.77, and for the full year, net income was $261.8 million, with earnings per common share at $2.03 [14][15] - Adjusted operating earnings for Q4 were $138.4 million, or $0.97 per common share, resulting in an adjusted operating return on tangible common equity of 22.1% and an adjusted operating efficiency ratio of 47.8% [15][16] - The total allowance for credit losses was $321.3 million, a slight increase from the previous quarter, with a net charge-off ratio of one basis point for Q4 [16][17] Business Line Data and Key Metrics Changes - Quarterly loan growth was approximately 6.3% annualized, ending the year at $27.8 billion, with expectations for 2026 loan balances to range between $29 and $30 billion [6][24] - Fee income increased, driven by loan-related interest rate swap fees and fiduciary and asset management fees, with 27% of interest rate swap income coming from former Sandy Spring customers [9][21] - Non-interest income for Q4 was $57 million, an increase from the prior quarter, primarily due to higher loan-related interest rate swap fees [21] Market Data and Key Metrics Changes - Virginia's unemployment rate remained stable at 3.5%, while Maryland's increased to 4.2% and North Carolina's rose to 3.8%, all below the national average [10][11] - The company expects manageable unemployment levels in its markets, consistent with Moody's forecasts [11] Company Strategy and Development Direction - The company aims to leverage the strategic advantages gained from the Sandy Spring acquisition to drive sustainable growth and long-term value creation [6][12] - Focus will shift to demonstrating the franchise's earnings power and capital generation ability, with no additional acquisitions planned in the near term [12][13] - The company is committed to expanding its presence in North Carolina and enhancing its specialty banking services [12][73] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving strategic goals associated with the Sandy Spring acquisition, anticipating a decline in merger-related expenses in Q1 2026 [4][5] - The company remains optimistic about loan growth despite economic uncertainties, with a strong pipeline and growing client confidence [7][52] - Management highlighted the importance of maintaining a disciplined approach to cost management and capital allocation [12][104] Other Important Information - The company paid a common stock dividend of $0.37 per share, an increase of 8.8% from the previous quarter [25] - Tangible book value per common share increased approximately 4% to $19.69 in Q4 [25] Q&A Session Summary Question: Clarification on 2026 guidance and net interest income range - Management indicated that achieving the higher end of the net interest income guidance depends on elevated accretion income and continued reduction in deposit costs [36][41] Question: Loan pipeline increase and near-term loan growth - Management confirmed a modest increase in the loan pipeline, with positive feedback from market leaders indicating strong near-term growth potential [50][52] Question: Deposit growth outlook for next year - Management guided for about 3%-4% deposit growth in 2026, supported by treasury management opportunities [86] Question: Cost savings from the Sandy Spring deal - Management noted that most cost savings are reflected in current numbers, with some residual benefits expected in Q1 [92][93] Question: Non-credit-related customer losses - Management clarified that elevated non-credit-related losses were primarily due to episodic fraud incidents [110]

Financial Highlights - Total assets reached $10.5 billion[13] - Total loans amounted to $7.3 billion[13] - Total deposits totaled $9.1 billion[13] - Tangible common equity stood at $1.1 billion[13] - Market capitalization was $683 million as of January 20, 2026[14] Capital & Liquidity - CET1 Ratio was 13.83%[19] - Tangible Common Equity / Tangible Assets was 10.87%[19] - Available liquidity covered uninsured deposits by 199%, with $4.7 billion in combined on-balance sheet liquidity and available borrowing capacity against $2.4 billion in uninsured deposits[19, 59] Income Statement - Net interest income increased by $0.1 million quarter over quarter[44] - Provision for credit losses decreased to $15.5 million, compared to $113.2 million for the prior quarter[49] - Noninterest income increased by $9.7 million[50] 2026 Outlook - Average deposits are projected to decrease by 4-7%[53] - Average loans are expected to decrease by 4-6%[53] - Net interest margin is forecasted to be between 2.60% - 2.80%[53]

Financial Data and Key Metrics Changes - The company reported earnings of $69.3 million, or $0.90 per share, for the fourth quarter, with an adjusted EPS of $0.94 after accounting for one-time software write-downs [7][25] - The annualized return on assets (ROA) was 78 basis points, adjusted for the software write-down, it was approximately 81 basis points [8][11] - Net interest margin (NIM) expanded to 3.06%, up from 3% in the previous quarter and 22 basis points year-over-year [7][26] - Total deposits increased by $735 million during the quarter and $1.5 billion for the year [19] Business Line Data and Key Metrics Changes - Core loans grew by $769 million in the fourth quarter, with commercial real estate (CRE) loans up by $276 million and commercial and industrial (C&I) loans up by $474 million [20][22] - Non-interest income increased by $30 million quarter-over-quarter and year-over-year, despite a decline in leasing income [28][29] - The company experienced a decline in non-performing loans (NPLs) and criticized classified loans, indicating improved credit quality [11][28] Market Data and Key Metrics Changes - The company noted that the cost of deposits decreased by 21 basis points to 2.10% at year-end, down from 2.31% at the end of September [10] - The loan-to-deposit ratio finished the quarter at 82.7% [20] - The weighted average loan-to-value (LTV) ratio for the CRE portfolio was 55%, with a debt service coverage ratio of 1.82, indicating strong metrics [22] Company Strategy and Development Direction - The company aims to achieve double-digit growth in net interest-earning assets (NIDDA) and maintain a target CET1 ratio in the mid-11s [12][13] - The strategic focus includes expanding in new markets such as Atlanta, Texas, and North Carolina while maintaining a balanced approach to commercial real estate [75][78] - The company plans to continue share buybacks and increase dividends, reflecting confidence in its financial position [12][13] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the economy, noting that it remains strong despite geopolitical risks [33][34] - The company anticipates continued growth in NIDDA and deposits, with guidance for loan growth in the 2%-3% range and core loan growth around 6% [15][16] - The management acknowledged potential challenges from tightening spreads and the impact of Fed rate cuts on margins [17][34] Other Important Information - The company authorized an additional $200 million share buyback, complementing the remaining $50 million from a previous authorization [12][13] - Non-interest expenses increased by $6.6 million from the prior quarter, primarily due to a software charge and employee compensation [30] Q&A Session Summary Question: What drove the non-interest-bearing deposit growth in Q4? - Management reported that all business lines contributed to deposit growth, with no outliers, and emphasized the importance of average NIDDA over period-end figures [40][41] Question: What are the beta assumptions for loans and deposits? - The company expects an 80% beta for deposits, with a mix of floating and fixed-rate loans impacting the overall beta [44][45] Question: How does the company plan to balance buybacks with capital levels? - Management indicated a flexible approach to buybacks, taking advantage of market volatility while aiming to maintain capital ratios in line with peers [49][50] Question: What is the outlook for commercial real estate (CRE) growth? - The company has room to grow in CRE, focusing on asset classes other than office and hospitality, and expects mid-single-digit growth in 2026 [62][64] Question: Can you provide details on the fraud incident mentioned? - The fraud involved a contractor in New York, resulting in a complete write-off of a $10 million loan due to lack of collateral [67]

Core Viewpoint - F.N.B. Corporation has demonstrated strong financial performance in the third quarter, with positive growth indicators and a slight increase in analyst price targets, reflecting confidence in the company's future prospects [2][3][4]. Financial Performance - F.N.B. reported earnings of $0.41 per share in the third quarter, exceeding the Zacks Consensus Estimate of $0.37, leading to a 1.6% rise in stock price following the earnings release [3][6]. - The company achieved an 11% increase in revenue during the third quarter, supported by robust growth in loans and deposits [4][6]. - Net income available to common shareholders was reported at $149.5 million, with tangible book value per common share growing by 11% year-over-year [5]. Analyst Sentiment - The consensus price target for F.N.B. has increased from $18.88 to $19 over the past year, indicating a modest positive sentiment among analysts [2]. - Analyst Russell Gunther from Stephens has set a price target of $18, reflecting confidence in F.N.B.'s future performance [2]. Financial Health - F.N.B. maintains a strong capital position, with industry-leading reserve coverage and a record Common Equity Tier 1 (CET1) capital ratio, which supports its future growth and stability [4].

Core Viewpoint - PNC Financial Services Group reported record revenue and a 5% positive operating leverage for the fourth quarter of 2025, with net income reaching $2.0 billion and diluted EPS at $4.88. The company also announced an increase in planned share repurchases following the acquisition of FirstBank [1][7]. Financial Performance - Total revenue for Q4 2025 was $6.1 billion, an increase of $156 million, or 3%, compared to Q3 2025, driven by growth in both net interest income (NII) and noninterest income [11][13]. - Net interest income was $3.7 billion, up $83 million, or 2%, from Q3 2025, benefiting from lower funding costs and loan growth [14][11]. - Noninterest income reached $2.34 billion, a 3% increase from Q3 2025, with notable growth in capital markets and advisory fees [16][11]. Balance Sheet Highlights - Average loans increased by $2.0 billion, or 1%, to $327.9 billion, primarily due to growth in commercial loans [21][23]. - Average deposits grew by $7.7 billion, or 2%, to $439.5 billion, driven by both commercial and consumer client accounts [26][11]. - The common equity tier 1 (CET1) capital ratio was estimated at 10.6% as of December 31, 2025, reflecting a strong capital position [28][29]. Credit Quality - Provision for credit losses was $139 million in Q4 2025, down from $167 million in Q3 2025, indicating improved credit quality [35][36]. - Net loan charge-offs were $162 million, a decrease of $17 million compared to Q3 2025, reflecting lower consumer and commercial charge-offs [36][35]. - Total delinquencies increased to $1.4 billion, up 17% from the previous quarter, primarily due to higher commercial and consumer loan delinquencies [38][35]. Acquisition Impact - PNC completed the acquisition of FirstBank on January 5, 2026, which had $26 billion in assets and will be included in PNC's consolidated operations starting Q1 2026 [7][1].