Google (GOOG) (GOOGL) announced on Monday that it has signed a multi-year, multi-million dollar cloud deal with the NATO Communication and Information Agency to boost the organization's digital modernization. Alphabet shares rose 3% in premarket trading. As part of the ...

Core Insights - Cycurion, Inc. has been selected as an approved vendor under the Florida State Term Contract for IT Staff Augmentation Services, positioning the company to support Florida's digital modernization agenda [1][2] - The multi-year contract allows Florida state agencies and eligible entities to engage Cycurion directly for IT staffing without competitive bidding, covering various areas such as software development, cybersecurity, and AI integration [2][4] - Cycurion aims to build the technical backbone for Florida's future, focusing on critical infrastructure and AI-driven public services [3][4] Company Overview - Cycurion is based in McLean, Virginia, and specializes in IT cybersecurity solutions and AI, serving government, healthcare, and corporate clients [5] - The company utilizes its AI-enhanced ARx platform and expert team to deliver secure and innovative services [5] Strategic Focus - The company is committed to maintaining a rapid-response bench of pre-vetted IT professionals ready for deployment, prioritizing emerging disciplines like zero-trust architecture and generative AI [7] - Cycurion boasts a 98% client retention rate in public sector contracts, indicating strong performance and reliability in service delivery [7]

Financial Data and Key Metrics Changes - Core earnings per share for Q3 2025 was $0.91, with year-to-date core EPS at $2.66, reflecting a 3% growth compared to the previous year [3][9] - Net income was reported at $26.8 million, or $0.88 per diluted share, while core net income was $27.6 million, or $0.91 per diluted share [9] - Net interest income increased by 4.9% to $76.4 million, with a net interest margin rising by 5 basis points to 3.6% [9][10] - Non-performing assets decreased by $12.2 million, or 34.6%, to $23 million, representing 0.26% of total assets [4] Business Line Data and Key Metrics Changes - Loans grew by $99 million across growth mode portfolios, achieving a 3.3% growth rate, up from 2.1% in the previous quarter [5] - The PACE portfolio saw total assessments grow by $27.4 million, with CPACE growing over 8% [5] - Deposits increased by over $415 million, with notable growth in the political segment (up $235 million, or 19%) and climate and sustainability segment (up $86 million, or 21%) [6] Market Data and Key Metrics Changes - Total on-balance sheet deposits increased by $149 million, or 1.9%, to $7.6 billion, with an additional $265 million held off-balance sheet [10] - The tangible book value per share increased by $0.98, or 4%, to $25.31, marking a 46% growth since September 2021 [10] Company Strategy and Development Direction - The company is investing in a fully integrated digital modernization platform to enhance productivity and customer understanding [7] - Management is focused on maintaining a balanced and predictable contribution from lending channels while monitoring the policy debate in New York City [8] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the bank's performance and growth potential, emphasizing the quality and sustainability of earnings [3][7] - The company raised its full-year 2025 core pre-tax pre-provision earnings guidance to $164 to $165 million [16] Other Important Information - The allowance for credit losses on loans decreased by $2.5 million to $56.5 million, with a ratio of 1.18% [15] - The bank received a revised outlook to positive from KBRA during its annual credit rating surveillance report [14] Q&A Session Summary Question: What is the $1.9 million specific reserve against? - The specific reserve is related to a multifamily property with an updated appraisal indicating a change in loan-to-value [20] Question: How would a rent freeze impact the rent-regulated multifamily business? - Management does not expect significant impact in the next 18 to 24 months and sees potential upside in balanced housing approaches [23][24] Question: Concerns about federal funding for green energy projects? - Management is confident in existing projects as funding streams are locked in, and they see continued demand for financing in the renewable energy sector [26][28] Question: How to position the company against regulatory scrutiny? - The company focuses on compliance with laws and regulations, emphasizing strong performance and risk management [31][32] Question: Insights on expenses and future guidance? - Expenses are on track with the $170 million annual target, with potential upside if Q4 expenses align with Q3 [40][41] Question: Expectations for loan yields and new originations? - Loan yields are expected to decline due to anticipated rate cuts, with strong origination performance noted in the C&I portfolio [42][44]

Financial Data and Key Metrics Changes - Core earnings per share for Q3 2025 was $0.91, with year-to-date core EPS at $2.66, reflecting a 3% growth compared to the previous year [3][9] - Net income was reported at $26.8 million, or $0.88 per diluted share, while core net income was $27.6 million, or $0.91 per diluted share [9] - Net interest income increased by 4.9% to $76.4 million, with a net interest margin rising by 5 basis points to 3.6% [9][10] - Non-performing assets decreased by $12.2 million, or 34.6%, to $23 million, representing 0.26% of total assets [4][10] Business Line Data and Key Metrics Changes - Loans grew by $99 million across growth mode portfolios, achieving a 3.3% growth rate, up from 2.1% in the previous quarter [5][6] - The PACE portfolio saw total assessments grow by $27.4 million, with CPACE growing over 8% [5] - Deposits increased by $415 million, with notable growth in the political segment (19% increase) and climate and sustainability segment (21% increase) [6][10] Market Data and Key Metrics Changes - Total on-balance sheet deposits increased by $149 million, or 1.9%, to $7.6 billion [10] - The tangible book value per share increased by $0.98, or 4%, to $25.31, marking a 46% growth since September 2021 [10] Company Strategy and Development Direction - The company is investing in a fully integrated digital modernization platform to enhance productivity and customer understanding [7] - The focus remains on maintaining a balanced and predictable contribution from lending channels while managing geographic diversity [8] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, highlighting strong deposit growth and a solid credit portfolio [6][7] - The company raised its full-year 2025 core pre-tax pre-provision earnings guidance to $164 to $165 million [16] Other Important Information - The allowance for credit losses on loans decreased by $2.5 million to $56.5 million, with a ratio of 1.18% [15] - The company plans to continue share buybacks until the share price reflects forward earnings projections [11] Q&A Session Summary Question: Specific reserve mentioned on page 11 - The specific reserve of $1.9 million is related to a multifamily property with an updated appraisal indicating a change in LTV [19][20] Question: Impact of potential rent freezes in New York City - Management does not expect significant impact in the next 18 to 24 months and is monitoring the situation closely [21][22][23] Question: Concerns about federal funding for green energy projects - Existing projects are secure as funding streams are locked in, and the company is seeing acceleration in project transactions [24][25][26][30] Question: Positioning against regulatory scrutiny - The company focuses on compliance with laws and regulations, emphasizing solid performance and risk management [31][32] Question: Expense management and guidance - Expenses are on track with the $170 million annual target, with potential upside if Q4 expenses align with Q3 [35][39] Question: Loan yields and new originations - Loan yields are expected to decline due to anticipated rate cuts, with current origination yields remaining strong [40][42]

Core Insights - Bankers Insurance Group has selected Sapiens CoreSuite for Property & Casualty to modernize its technology stack and support its growth strategy [1][2] - The partnership aims to enhance operational efficiency and deliver new products, starting with builder's risk and business owner's policy [2][3] - Sapiens CoreSuite will facilitate Bankers' transition from legacy systems to a modern, automated platform, improving service levels and responsiveness [3][4] Company Overview - Bankers Insurance Group, a subsidiary of Bankers Financial Corporation, specializes in commercial insurance in the Southeastern United States and has a history of managing catastrophic events [5] - Founded in 1976, the company has grown significantly and focuses on providing tailored insurance solutions to meet customer needs [6] Sapiens Overview - Sapiens International Corporation is a leader in SaaS-based software solutions for the insurance industry, serving over 600 customers in more than 30 countries [7][8] - The company's CoreSuite is designed to support insurers in adapting to market changes and enhancing operational excellence through automation and advanced analytics [4][8]