Civista Bancshares (CIVB) Q1 2025 Earnings Call April 24, 2025 01:00 PM ET Company Participants Dennis Shaffer - President, CEO & Vice ChairmanIan Whinnem - Interim Principal Accounting Officer, Senior VP & CFOBrendan Nosal - Director - Equity ResearchTerry Mcevoy - Managing DirectorRichard Dutton - Senior VP & COO Conference Call Participants Justin Crowley - Research AnalystManuel Navas - MD & Senior Research AnalystEmily Lee - Analyst Operator Before we begin, I would like to remind you that this confere ...

Financial Data and Key Metrics Changes - Earnings per share (EPS) was $0.87 and net income was $33 million, both exceeding Q4 2024 and Q1 2024, significantly above consensus estimates [7] - Customer deposit growth was over 7% annualized, marking the seventh consecutive quarter of growth [7][10] - Net interest margin (NIM) expanded by four basis points to 3.81%, with funding costs decreasing [8][17] Business Line Data and Key Metrics Changes - Total loan growth was $93 million or 4.89% annualized, consistent with previous guidance [10] - Consumer loan growth was $12 million, driven by residential mortgage and home equity [11] - Commercial loan growth exceeded $81 million, primarily from commercial real estate and construction segments [12] Market Data and Key Metrics Changes - The majority of deposit growth came from consumer activities, with significant contributions from money market accounts [11] - The commercial and industrial (C&I) balances declined by $20 million, reflecting reduced automobile floor plan borrowings [13] Company Strategy and Development Direction - The company is focused on enhancing its deposit franchise, maintaining top quartile profitability, and ensuring high asset quality [6] - There is an emphasis on organic growth through hiring additional bankers and improving customer engagement [52] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate market uncertainties, supported by strong employee engagement and financial performance [6] - The outlook for loan growth remains positive, with expectations for mid-single-digit growth in the short term and high mid-single-digit growth in the latter half of 2025 [13][40] Other Important Information - The allowance for credit losses declined by approximately $2.5 million, ending the quarter at 1.26% of total loans [14] - Non-interest income declined by $700,000 due to seasonally lower customer activity [18] Q&A Session Summary Question: Thoughts on deals in the current environment and timing for crossing $10 billion without a deal - Management indicated ongoing conversations in the market and anticipated crossing $10 billion in the second half of the year, prepared for regulatory requirements [26] Question: Insights on spreads in C&I and CRE - Spreads in the C&I space remained stable, with hesitancy among customers due to economic uncertainty; CRE spreads faced pressure from larger banks becoming more aggressive [27][28] Question: Impact of tariffs on borrower base and credit trends - Management is actively monitoring credit risk related to tariffs and has seen stabilization in criticized and classified loans [36][39] Question: Expectations for loan yields and securities cash flows - New loan yields were around 6.75%, with expectations for continued support to the margin from securities and swaps [42][45] Question: Hiring expectations for the year - The company is focused on recruiting C&I bankers to support pipeline expansion, with a 15% increase in calling officers already achieved [52]

Core Insights - First BanCorp. reported a net income of $77 million ($0.47 per share) for Q1 2025, a slight increase from $76 million ($0.46 per share) in Q4 2024, indicating stable profitability [2][9] - The company experienced a net interest margin (NIM) expansion of 19 basis points to 4.52% in Q1 2025, driven by lower funding costs and improved yields on cash and investments [2][11] - Management maintained a mid-single-digit loan growth guidance for 2025, with expectations for growth to materialize in the second half of the year [3][4] Financial Performance - Net interest income increased by $3 million to $212 million in Q1 2025, benefiting from lower funding costs and improved yields [4][10] - The efficiency ratio improved to 49.6% from 51.6% in Q4 2024, reflecting better operational efficiency [2][12] - Total loans were slightly down, with originations reaching $1.2 billion in Q1 2025 [2][7] Capital Management - The company redeemed approximately $50 million in subordinated debentures, declared $29.6 million in dividends, and repurchased $22 million in common stock during Q1 2025 [2][9] - Tangible book value increased by 7% to $10.64 per share in Q1 2025, indicating a strengthening balance sheet [2][12] Credit Quality - Credit quality metrics remained stable, with early delinquencies decreasing by $21.8 million during Q1 2025 [4][12] - The allowance for credit losses increased by $3.4 million to $247.3 million, reflecting adjustments for projected economic uncertainties [12][30] Digital Transformation - The company advanced its digital transformation efforts by converting to a centralized FIS cloud for its core systems in Q1 2025 [5][8]

First BanCorp (FBP) Q1 2025 Earnings Call April 24, 2025 12:00 PM ET Company Participants Ramón Rodríguez - SVP - Corporate Strategy & IRAurelio Alemán-Bermudez - President & CEOOrlando Berges-González - Executive VP & CFOFrank Schiraldi - Managing DirectorBrett Rabatin - Managing Director & Head of Equity ResearchSteve Moss - Director - Banking & ArlingtonKelly Motta - MD - Equity ResearchTimur Braziler - Director - Mid-Cap Bank Equity Research Operator Hello, everyone, and thank you for joining the First ...

Eagle Bancorp (EGBN) Q1 2025 Earnings Call April 24, 2025 10:00 AM ET Company Participants Eric Newell - Senior EVP & CFOSusan Riel - Chair, President & CEOKevin Geoghegan - EVP & Chief Credit Officer of Eagle Bank & EVP of Eagle BankcorpRyan Riel - Executive Vice President and Chief Real Estate Lending OfficerCatherine Mealor - Managing DirectorChristopher Marinac - Director of Research Conference Call Participants Justin Crowley - Research Analyst Operator Good day, and thank you for standing by. Welcome ...

Bankwell Financial Group (BWFG) Q1 2025 Earnings Call April 24, 2025 10:00 AM ET Company Participants Courtney Sacchetti - Executive VP & CFOChristopher Gruseke - CEOChristopher O'Connell - DirectorMatthew McNeill - Executive VP & Chief Banking Officer Operator Ladies and gentlemen, thank you for standing by, and welcome to the Bankwell Financial Group First Quarter twenty twenty five Earnings Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will b ...

Old Second Bancorp (OSBC) Q1 2025 Earnings Call April 24, 2025 10:00 AM ET Company Participants James Eccher - President, CEO & Chairman of the BoardBradley Adams - EVP, COO & CFOChristopher Mcgratty - MD & Head of U.S. Bank ResearchTerry Mcevoy - Managing DirectorDavid Long - Managing DirectorBrian Martin - Director - Banks & Thrifts Conference Call Participants Nathan Race - Managing Director & Senior Research AnalystJeffrey Rulis - MD & Senior Research Analyst Operator Good morning, everyone, and thank y ...

Colony Bankcorp (CBAN) Q1 2025 Earnings Call April 24, 2025 09:00 AM ET Company Participants Brantley Collins - Communication SpecialistHeath Fountain - CEODerek Shelnutt - Executive VP & CFO Operator Good morning, ladies and gentlemen, and welcome to the Colony Bank first quarter '20 '20 '5 conference call. At this time, all lines are in a listen only mode. Following the presentation, we will conduct a question and answer session. If at any time during this call require immediate assistance, please dial 0. ...

Financial Data and Key Metrics Changes - Net interest income increased to $160.5 million, up $1.8 million from the prior quarter, driven by lower deposit costs and investment portfolio restructuring [12][7] - Total loans declined by $115 million or 0.8% from the prior quarter, primarily due to commercial real estate loans [9] - Total deposits slightly declined, with retail deposits increasing by $105 million while commercial deposits fell by $167 million [10] Business Line Data and Key Metrics Changes - Noninterest income was stable at $50.5 million, while noninterest expenses were $123.6 million, with no significant nonrecurring items [14] - The bank maintained strong credit performance, with classified assets decreasing by $3 million and year-to-date net charge-offs at $3.8 million [15][16] Market Data and Key Metrics Changes - The statewide unemployment rate remained stable at 3%, compared to the national rate of 4.1% [6] - Visitor arrivals increased by 1% and spending rose by 4.5% compared to 2024 levels, with Maui seeing the largest increases [6] Company Strategy and Development Direction - The company remains well-capitalized with ample liquidity and plans to continue supporting customers while managing expenses [8][7] - The management is focused on maintaining strong relationships with customers and is optimistic about loan growth despite market uncertainties [24][63] Management's Comments on Operating Environment and Future Outlook - Management noted increased uncertainty in the macroeconomic environment but remains optimistic about opportunities for growth [24][63] - The company is closely monitoring the impact of tariffs and economic conditions on its loan portfolios, particularly in the consumer and commercial sectors [68][70] Other Important Information - The bank repurchased approximately 974,000 shares at a total cost of $25 million, with $75 million remaining under the 2025 stock repurchase plan [8] - The allowance for credit losses increased to $166.6 million, reflecting a more pessimistic economic forecast [17] Q&A Session Summary Question: Insights on loan performance and economic pulse - Management indicated that average loans for the quarter were up over Q4, with a strong pipeline despite some uncertainty in the market [23][24] Question: Competitive landscape on deposit costs - Management expressed confidence in further reducing deposit costs as rates decline, but noted limited room for significant reductions beyond current levels [26][32] Question: Expense trajectory and investment plans - Management reiterated guidance for expenses and indicated a commitment to investing in the business while remaining cautious about the economic outlook [36][38] Question: Allowance for credit losses and consumer exposure - The increase in the allowance was driven by the economic forecasting model, with management noting stable performance in the consumer portfolio [42][94] Question: Impact of tariffs on loan portfolios - Management is closely monitoring the impact of tariffs on various loan portfolios, particularly in the C&I sector, but has not observed significant concerns yet [68][70] Question: Margin outlook and rate cuts - Management indicated that the ability to offset rate cuts will depend on loan growth, with potential for margins to remain stable if growth is strong [80][81]

Central Pacific Financial (CPF) Q1 2025 Earnings Call April 23, 2025 02:00 PM ET Company Participants Dayna Matsumoto - EVP & CFOArnold Martines - Chairman, President & CEODavid Morimoto - Vice Chairman & COORalph Mesick - Senior EVP & Chief Risk OfficerDavid Feaster - Director - BankingAndrew Liesch - Managing Director Operator Good afternoon, ladies and gentlemen. Thank you for standing by, and welcome to the Central Pacific Financial Corp. First Quarter twenty twenty five Conference Call. During today's ...