Financial Data and Key Metrics Changes - For Q4 2025, the company reported a core earnings per share (EPS) of $1.43, a core return on assets (ROA) of 1.42%, and a core return on tangible common equity of 18%, all showing significant year-over-year increases [3][4] - The full-year core EPS for 2025 was $5.21, reflecting a 19% increase from the previous year, while Q4 core EPS increased by 29% year-over-year [4] - The net interest margin (NIM) for the quarter was 3.83%, down 8 basis points from the previous quarter but up 3 basis points year-over-year [4][5] Business Line Data and Key Metrics Changes - Core fee revenue increased by 2% linked quarter and 8% year-over-year, driven by strong growth in Wealth and Trust, capital markets, and home lending [5] - The Wealth and Trust business grew by 13% year-over-year, with WSFS Institutional Services experiencing a 29% growth [5] - Total gross loans grew by 2% linked quarter and 9% annualized, with commercial loans leading the growth at 4% linked quarter [6] Market Data and Key Metrics Changes - Total client deposits increased by 2% linked quarter and 10% annualized, with non-interest-bearing deposits growing by 6% linked quarter [6] - The company maintained a 32% share of non-interest-bearing deposits within total client deposits [6] Company Strategy and Development Direction - The company aims for mid-single-digit loan growth overall and expects continued broad-based deposit growth across its businesses in 2026 [9][10] - The strategy includes maintaining a high level of buybacks while being open to adjusting based on macroeconomic conditions and investment opportunities [9][10] - The company is focused on enhancing its fee businesses, which contribute approximately one-third of total revenue, and expects fee revenue to grow in the mid-single digits [10][11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in delivering another year of high performance and growth, with expectations for a core ROA of approximately 1.40% and double-digit growth in core EPS for 2026 [9] - The management noted that while the path of future rate cuts remains uncertain, they are prepared to manage margins through deposit repricing and other strategies [10] - The company highlighted the importance of maintaining strong expense discipline while also investing in growth opportunities [12] Other Important Information - Non-performing assets decreased significantly, down approximately 40% compared to year-end 2024, indicating improved asset quality [7] - The company returned $119 million in capital during the quarter, including $109 million in buybacks, representing 3.7% of outstanding shares [8] Q&A Session Summary Question: Can you discuss the better commercial trends and what is driving strong originations? - Management noted that improved economic clarity led to strong originations and fundings in the commercial sector, with a pipeline exceeding $300 million [15][17] Question: What are the parameters for capital return and buybacks? - The company focuses on CET1 and TCE ratios, with a capital return philosophy primarily through buybacks, aiming to return roughly 100% of net income annually [19][20] Question: What is the outlook for Cash Connect revenue and profitability? - Management indicated that while revenue may be impacted by interest rates, margin improvements are expected due to pricing strategies and operational efficiencies [25][28] Question: What is the anticipated mix of deposit growth? - The company aims to match fund loan growth and is focused on growing non-interest-bearing deposits, particularly from institutional services and small business contributions [35][80] Question: Are there any ongoing evaluations of business segments for profitability? - Management confirmed ongoing evaluations of business segments to ensure strategic fit and profitability, with a focus on shedding low-profitability partnerships [44][46] Question: What are the expectations around M&A activity? - Management remains open to M&A opportunities that could strengthen their market position, while also focusing on organic growth [50][51]

We're back on Morning Trade Live. Let's focus on health insurers. United Health, Humanana, CVS, and Elevance are all moving lower this morning after the Trump administration proposed keeping Medicare Advantage rates relatively flat in 2027.You can see how much that is impacting these stocks right now down in double digits. We are seeing some heavy heavy selling pressure this morning despite the fact that actually we heard from United Health with respect to their earnings. But this story is not helping.So th ...

Financial Data and Key Metrics Changes - The company reported earnings of $1.45 per diluted share for Q4 2025, an increase from $1.19 in the linked quarter and $1.28 in Q4 2024 [3] - Return on average assets was 1.27%, and pre-provision return on average assets was 1.74% [3] - Net interest income for the quarter reached $168 million, up $10 million from the linked quarter and $22 million from Q4 2024 [3][4] - The tangible common equity to tangible assets ratio was 9.07%, with a return on tangible common equity of 14.02% for Q4 [5] Business Line Data and Key Metrics Changes - Loan growth for the quarter was $217 million, primarily due to acquired loans from the branch acquisition [6] - Deposits grew by $1 billion in Q4, with $400 million from new and existing clients and $600 million from the branch purchase [7] - The cost of deposits decreased to 1.64%, and the level of demand deposits to total deposits improved to 33.4% [8] Market Data and Key Metrics Changes - The Southwest market showed the strongest growth, driven by quality commercial and industrial relationships [17] - Organic deposit growth for the year was 6.5%, amounting to $854 million, with Q4 organic deposit growth at $432 million [18] Company Strategy and Development Direction - The branch acquisition accelerated the company's strategy in higher growth markets by several years [4] - The company aims to continue producing high-quality earnings and has a clear path to improve credit statistics in the upcoming quarters [10][11] - The focus remains on automating non-value-added tasks to enhance productivity and efficiency [11] Management's Comments on Operating Environment and Future Outlook - Clients remain optimistic about the economy, particularly in sectors related to power generation and infrastructure improvements [12] - The company expects to maintain a diversified, relationship-oriented model that has compounded tangible book value per share at over 11% for the last 14 years [13] Other Important Information - The company increased its dividend by $0.01 per share to $0.32 for Q4 and repurchased 67,000 shares at an average price of $52.64 [6] - Non-performing assets (NPAs) increased to 95 basis points of total assets, with expectations to reduce this to historical levels in the next couple of quarters [32] Q&A Session Summary Question: Timing and details on foreclosed properties - The company took control of six properties in December after a favorable ruling from the bankruptcy court, with expectations for resolution by the end of Q2 2026 [42][43] Question: Fee income and non-interest expense expectations - Fee income is expected to grow at about 5% year-over-year, with non-interest expenses projected to grow around 5% as well [50][51] Question: Charge-offs and provisioning outlook - The company anticipates charge-offs to decrease from elevated levels seen in 2025, with a focus on maintaining appropriate reserves [76][79] Question: Capital management and buyback plans - The company has approximately 150,000 shares remaining for buyback and is focused on leveraging capital for growth in 2026 [81][82]

US stock futures rise ahead of a slew of earnings including Boeing and General Motors. US Border Patrol commander Greg Bovino is said to be leaving Minneapolis amid mounting backlash following two killings of US citizens by federal agents in recent weeks. President Trump vows to raise tariffs on South Korean goods to 25%. US airlines continue to cut back flights as another winter storm looms. ECB Governing Council Member and Austrian National Bank Governor Martin Kocher says the ECB must keep all options op ...

Group 1 - The European Union and India have successfully negotiated a trade deal aimed at enhancing economic cooperation and reducing tariffs on various goods [1] - The trade agreement is expected to boost bilateral trade, which currently stands at approximately €100 billion, by facilitating easier market access and investment opportunities [1] - This deal is part of a broader strategy by the EU to strengthen ties with key partners outside of the United States, particularly in light of shifting global trade dynamics [1] Group 2 - Following the announcement of the trade deal, U.S. health-insurer stocks experienced a decline in after-hours trading, indicating potential market reactions to international trade developments [1] - The drop in health-insurer stocks may reflect investor concerns about the implications of global trade agreements on domestic healthcare policies and market competition [1] - Analysts suggest that the trade deal could lead to increased competition in the healthcare sector, impacting pricing and service delivery in the U.S. market [1]

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Market Expectations - Investors anticipate no change in interest rates during the upcoming Federal Reserve meeting, with a 97% probability assigned to this outcome by CME FedWatch [1] - The current rate-cutting cycle began in September 2024, and political pressure on Fed Chair Jerome Powell has intensified, particularly from President Trump [4] Economic Outlook - The US economy appears stable, with inflation under control and solid GDP growth, as indicated by recent federal data releases [6] - The S&P Composite PMI for January increased slightly to 52.8 from 52.7, while the University of Michigan index was revised up to 56.4 from 54.0 [8] Market Leadership and Earnings - Market leadership is broadening beyond mega-cap tech, with energy, industrials, and materials sectors performing well [5] - The S&P 500 is projected to grow earnings by 15% this year, currently priced around 22 times next year's earnings, indicating that fundamentals are a key driver for stock performance [10] Upcoming Earnings Reports - Half of the "Magnificent Seven" companies, including Microsoft, Meta Platforms, and Tesla, are set to report earnings this week, which could significantly influence market movements [9] Policy and Political Landscape - There is speculation that Trump may appoint a new Fed chair, which could introduce volatility in the stock market as adjustments are made midyear [11] - Traders are pricing in a 59.4% chance of a rate cut in June, which may reinforce a pause in the upcoming Fed meetings [11] Market Volatility - Despite expectations for the Fed to hold rates steady, volatility is common around press conferences, with investors closely monitoring Powell's statements [12]

Group 1: Trade Risks and Market Sensitivity - Renewed fears regarding a potential Canada-China deal are raising concerns about additional U.S. tariffs, impacting market positioning and risk across globally exposed sectors [1] - Trade narratives typically emerge when markets are extended, necessitating quick adjustments across equities, FX, and rates, indicating a fragile market environment [3] Group 2: Cryptocurrency Market Dynamics - Bitcoin has declined to approximately 86k after reaching near 96k, maintaining a broader downtrend influenced by the strengthening Japanese yen, which signals tighter global financial conditions [4] - The cryptocurrency market continues to act as a liquidity proxy, with Bitcoin likely to remain range-bound until currency volatility decreases and risk appetite improves [5] Group 3: Earnings Reports and Market Expectations - This earnings week is significant due to reports from major companies such as Tesla, Microsoft, Meta, and Apple, with high expectations for results and forward guidance on AI spending, margins, and consumer demand [6] - The current macroeconomic uncertainty means that strong execution from these companies could stabilize market sentiment, while cautious outlooks may lead to increased volatility [7]

US stocks opened higher Monday morning as traders weighed a combination of fresh trade and policy risks against a strong start to fourth-quarter earnings https://t.co/cpDkS7Ze98 ...

Core Insights - The article discusses the ongoing trend of "selling America" in the markets, despite robust earnings reports and a Federal Reserve that is confident enough to pause its interest-rate cutting cycle [2]. Group 1 - The upcoming week is expected to feature strong earnings reports from various companies, indicating positive performance in the corporate sector [2]. - The Federal Reserve appears poised to maintain its current interest rates, reflecting confidence in the U.S. economy's resilience [2]. - Despite these positive indicators, larger underlying issues are anticipated to sustain the "sell America" sentiment among investors [2].