RUTHERFORD, N.J., April 30, 2025 (GLOBE NEWSWIRE) -- Blue Foundry Bancorp (NASDAQ:BLFY) (the “Company”), the holding company for Blue Foundry Bank (the “Bank”), today reported a net loss of $2.7 million, or $0.13 per diluted common share, for the three months ended March 31, 2025, compared to net loss of $2.7 million, or $0.13 per diluted common share, for the three months ended December 31, 2024, and a net loss of $2.8 million, or $0.13 per diluted common share, for the three months ended March 31, 2024. J ...

Core Insights - Banco Santander Chile reported a strong financial performance for the first quarter of 2025, achieving a return on average equity (ROAE) of 25.7%, marking the fourth consecutive quarter with ROAE above 20% [2][3] - The bank's net income attributable to shareholders reached $278 billion, reflecting a 131.0% year-over-year increase, driven by a 33.2% increase in operating income [2][3] - The bank's efficiency ratio improved significantly to 35.0%, down from 47.4% in the same period last year, indicating better cost management [10] Financial Performance - The net income attributable to shareholders for 1Q25 was $278 billion, or $1.47 per share, compared to an ROAE of 11.2% in 1Q24 [2] - Operating income increased by 33.2% year-over-year, attributed to better net interest and readjustment income [2] - Compared to the previous quarter, net income increased by 0.5%, despite a slight decrease in readjustment gains due to lower UF variation [3] Dividend and Capital Ratios - A dividend payment of Ch$3.19 per share was approved, yielding 5.4%, with 70% of 2024 earnings distributed [4] - The Common Equity Tier 1 (CET1) ratio remained solid at 10.7%, with an overall Basel III ratio of 16.9% [6][15] Net Interest Margin and Income - The net interest margin (NIM) reached 4.1% in 1Q25, up from 2.7% in 1Q24, driven by a decrease in funding costs [7][8] - Net interest and readjustment income increased by 41.7% year-over-year, attributed to a lower monetary policy rate impacting funding costs [7] Customer Growth and Market Position - The customer base expanded by 9.4% year-over-year, with digital customers increasing by 6.6% [10][11] - The bank maintained a strong market share in checking accounts at 22.5%, supported by increased demand for US dollar accounts [12] Commission and Recurrence - Net commissions rose by 16.8% in 1Q25, with a recurrence ratio increasing from 57.8% to 61.8%, indicating a higher proportion of expenses financed by commissions [13] Operational Efficiency - The bank's efficiency ratio improved to 35.0%, with total operating expenses decreasing by 1.7% year-over-year [10] - The Gravity project, involving migration to the cloud, was a significant milestone, although it incurred higher technology expenses [9] Risk Ratings - Banco Santander Chile holds high risk ratings in Latin America, with stable outlooks from various credit rating agencies [14] Assets and Loans - As of March 31, 2025, total assets were Ch$67,059,423 million (approximately $70,284 million), with total gross loans at Ch$41,098,666 million (approximately $43,075 million) [15]

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]

Financial Data and Key Metrics Changes - The company originated $27.9 million in loans held for investment, a 23% decrease from $36.4 million in the prior sequential quarter [5] - Loan principal payments and payoffs were $23 million, down 33% from $34.3 million in the previous quarter [5] - Non-performing assets decreased to $1.4 million from $2.5 million, indicating improved asset quality [6] - The allowance for credit losses to gross loans held for investment decreased from 66 basis points to 62 basis points [9] - Net interest margin increased by 11 basis points to 3.02% compared to 2.91% in the previous quarter [9] Business Line Data and Key Metrics Changes - Loans held for investment increased by approximately $5.4 million compared to the previous quarter, driven by an increase in single-family loans [6] - There were declines in multifamily, commercial real estate, construction, and commercial business loans [6] - The company has seen more consumer demand for single-family adjustable-rate mortgage products due to higher fixed-rate mortgage interest rates [6] Market Data and Key Metrics Changes - Economic uncertainty has increased due to current fiscal policy, impacting real estate investor activity [6] - The company noted a shift in consumer demand towards adjustable-rate mortgage products as fixed rates rise [6] Company Strategy and Development Direction - The company aims for disciplined growth of the loan portfolio, recognizing the shift to looser monetary policy [13] - The strategy includes maintaining cash dividends and utilizing stock buyback programs as a capital management tool [14] - The company is focused on improving operating efficiencies to lower operating expenses [11] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the potential for net interest margin expansion in the upcoming quarter, albeit at a slower pace than the current quarter [11] - The company is monitoring commercial real estate loans, particularly those secured by office buildings, and remains confident in their performance [7] - Management acknowledged the challenges posed by higher mortgage rates and economic uncertainty but indicated a commitment to growth [6][13] Other Important Information - The company repurchased approximately 52,000 shares of common stock in the March quarter [14] - For the fiscal year to date, the company has distributed approximately $2.8 million in cash dividends and repurchased approximately $3.1 million worth of common stock [14] Q&A Session Summary Question: Inquiry about CD growth in the quarter - Management indicated that the growth was due to a remix of the liability profile and the opening of a government deposit desk, allowing for liquidity to pay down Federal Home Loan Bank advances [17] Question: Were new CDs at a better rate than wholesale market? - Management noted that the rates were similar to wholesale, and the strategy was adjusted due to lower short-term rates [18] Question: Thoughts on prepayment activity over the next twelve months? - Management stated that prepayment activity is difficult to predict, with lower prepayments observed in the March quarter due to mortgage rate volatility [28] Question: Capital allocation and potential buyback adjustments? - Management emphasized the importance of maintaining capital during uncertainty but indicated that if stock prices decline, they would consider repurchasing more shares [32][34] Question: Changes in loan competition behavior? - Management noted no significant changes in competition but acknowledged aggressive pricing in the multifamily loan market [35][36]

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 ...

Financial Data and Key Metrics Changes - Net income for the first quarter of 2025 was $13.1 million, with a return on average assets of 1.3% and return on average equity of 13.28% [10] - The net interest margin improved to 3.45% from 3.36% in the previous quarter, driven by lower average cost of deposits [10] - Total loans held for investment increased by $89.1 million or 2.52% from the prior quarter [4][10] - Non-performing loans remained stable at 0.05% of loans held for investment [6] Business Line Data and Key Metrics Changes - The commercial real estate segment of the loan portfolio increased from 80.75% to 81.11% quarter over quarter [5] - Loan originations during the first quarter were $259.3 million, while payoffs and pay downs were $65.6 million and $104.6 million respectively [5] - Non-interest income decreased to $1.4 million from $1.7 million in the previous quarter, primarily due to a reduction in income from equity investments [11] Market Data and Key Metrics Changes - Deposits increased by $178.4 million or 5% compared to the previous quarter, driven by increases in non-interest bearing demand and various types of interest-bearing deposits [6][7] - Non-wholesale deposits increased by $48.4 million or 1.61% quarter over quarter [8] - Local agency deposits accounted for 22.4% of total deposits as of March 31, 2025 [8] Company Strategy and Development Direction - The company is focused on organic growth and disciplined business practices, aiming to benefit customers, employees, community, and shareholders [13] - Expansion into the San Francisco Bay Area is a key strategic initiative, supported by the addition of seasoned professionals [4][12] - The company aims to maintain a fortress balance sheet with a target of 10% in cash and a loan-to-deposit ratio below 100% [21] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's resilience and ability to adapt to changing economic conditions [13] - The company anticipates loan growth of 10% to 12% for the remainder of the year, supported by a strong sales force [18][19] - Concerns regarding tariffs and economic slowdown were acknowledged, but management believes the company is well-positioned relative to competitors [30] Other Important Information - The company declared a cash dividend of $0.20 per share, expected to be paid on May 12, 2025 [9] - Five Star Bancorp was ranked third on the S&P Global Market Intelligence List of best-performing community banks in the nation [61] Q&A Session Summary Question: Loan growth outlook for the year - Management is bullish on loan growth, expecting 10% to 12% for the remainder of the year, supported by a strong sales force [18][19] Question: Reason for higher cost wholesale funding - Management indicated that core deposit growth is expected to match loan growth, and they do not anticipate additional wholesale funding [21] Question: Impact of tariffs on RV manufactured housing business - Management feels comfortable about the portfolio's performance, citing historical resilience during economic downturns [30] Question: Changes in allowance for loan losses - The increase in allowance was driven by portfolio growth and revised economic forecasts from the FOMC [34][35] Question: Loan pricing competition - Management acknowledged competitive pricing but remains satisfied with current spreads [38][39] Question: Customer hesitancy to borrow - Management noted strong demand in certain asset classes and emphasized the effectiveness of their sales force [46][47] Question: Small business borrowers' response to economic uncertainty - Management indicated that small business borrowers face high costs of borrowing, but reserves against this book remain high [53][55]

Northwest Bancshares Inc (NWBI) Q1 2025 Earnings Call April 29, 2025 01:48 PM ET Speaker0 you for standing by. At this time, I would like to welcome everyone to the Northwest Bancshares Inc. First Quarter twenty twenty five Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question and answer session. I would now like to turn the conference over to Michael Perry, Northwest Managing Director of Corporate Development and ...