This story was originally published on CFO.com. To receive daily news and insights, subscribe to our free daily CFO.com newsletter. As CFOs and their teams know, the onset of Fall’s cozy vibes also comes with the peak of corporate finance’s events season. And, unlike many finance conferences that try to cover every corner of the CFO mandate, the CFO Leadership Council's third consecutive Q4 conference in the west has content that focuses on a set of core themes: Leadership, transformation, benefits strateg ...

Financial Data and Key Metrics Changes - For Q2 2025, net revenue decreased by $1.5 million or 5% to $28.2 million compared to $29.7 million last year [16] - Station operating expense decreased by $1.1 million or 4.6% to $22.2 million for the quarter [16] - Operating income for the quarter was $1.4 million compared to $2.1 million last year [16] - Net income for the quarter was $1.1 million compared to $2.5 million for the same period last year [17] - For the six-month period, net revenue decreased by $2.6 million or 4.7% to $52.4 million compared to $55 million last year [19] - The company reported a net loss of $447,000 for the six-month period compared to net income of $924,000 last year [19] Business Line Data and Key Metrics Changes - Total interactive revenue increased by 7% for the quarter and 10% for the six-month period, with profit margins of 58% for the quarter and 55% for the six-month period [21] - E-commerce revenue grew by 17% for Q2 and is up 8% for the six-month period [22] - The online news initiative revenue grew by 26% for the quarter and 51% for the six-month period compared to 2024 [21] Market Data and Key Metrics Changes - The company is currently pacing down approximately 1% for Q3, but September is pacing up 1.5% [22] - Local direct revenue is pacing down 4.4%, local agency down 0.8%, and national down 19.1% for Q3 [23] Company Strategy and Development Direction - The company is focusing on reducing unnecessary operating expenses, reinvesting in research and development, and training media advisers to navigate a fragmented marketplace [12][13] - The management emphasizes the importance of maintaining a strong digital culture and improving digital revenue as part of their growth strategy [10][11] - The company is exploring the sale of non-core assets and tower sites to fund stock buybacks and dividends [25][31] Management Comments on Operating Environment and Future Outlook - Management expressed optimism about the future despite current challenges, stating that traditional revenue verticals are showing signs of recovery [11] - The company is committed to selling its way out of the current macroeconomic challenges rather than cutting costs [12] - Management highlighted the need for talented media advisers to help advertisers navigate a complex marketplace [12] Other Important Information - The company paid a quarterly dividend of $0.25 per share, totaling approximately $1.6 million [24] - Saga has paid over $138 million in dividends since 2012 and has repurchased over $58 million in stock [24] - The company has $24.9 million in cash and short-term investments as of August 4, 2025 [25] Q&A Session Summary Question: Can you discuss Q3 pacing and the growth of the digital business? - Management noted strong growth in the digital business and positive pacing for Q3, despite fragmentation in search traffic [28][29] Question: What are the capital allocation plans? - Management confirmed non-binding negotiations to sell tower sites, expecting proceeds in the high 7-figure or low 8-figure range, with some proceeds allocated for stock buybacks and dividends [31]

Financial Data and Key Metrics Changes - FMB reported net income available to common shareholders of $116.5 million, or $0.32 per share, with tangible book value per share growth of 12% to $10.83 [7][36] - Total revenue for the quarter was $411.2 million, driven by net interest income growth and solid non-interest income [8] - The CET1 ratio reached 10.7%, and tangible common equity to tangible assets was 8.4% [7][36] Business Line Data and Key Metrics Changes - Total loans and leases ended the quarter at $34.2 billion, a 3.5% annualized linked quarter increase, driven by growth in consumer loans and commercial loans [27] - Non-interest income totaled $87.8 million, consistent with the year-ago quarter, with wealth management revenues increasing 8.4% year-over-year [32][33] - Capital markets income was impacted by lower commercial customer activity due to the macroeconomic environment [33] Market Data and Key Metrics Changes - The first quarter annualized loan and deposit growth was 3.5% and 1.4% respectively, indicating success in growing client relationships and market share [10] - Non-interest-bearing demand deposits increased 1.1% and comprised 26.5% of total deposits, up 19 basis points from the fourth quarter [29] Company Strategy and Development Direction - The company is focused on diversifying revenue streams, active balance sheet management, and maintaining a balanced loan portfolio [7] - Recent acquisition of a critique investment banking firm aims to enhance financial advisory services [9] - The company is prioritizing high-touch services and superior digital delivery channels to become clients' primary operating bank [11] Management's Comments on Operating Environment and Future Outlook - Management emphasized the importance of maintaining a diversified deposit base and sound risk management practices amid economic uncertainty [12][25] - The company expects mid-single-digit loan and deposit growth for the full year, despite current economic challenges [38] - Management remains confident in the ability to manage through the current economic environment, with strong asset quality metrics [25][88] Other Important Information - The efficiency ratio for the first quarter was solid at 58.5%, with expectations for improved performance in the second half of 2025 [35] - The company repurchased 741,000 shares during the quarter and plans to pursue opportunistic share repurchase activity [37] Q&A Session Summary Question: NII outlook and swap maturities - Management discussed the impact of swap maturities on NII, indicating a gradual decline in benefits from swaps over the quarters [46][54] Question: Loan growth risks - Management acknowledged a softer pipeline year-over-year but expressed confidence in achieving mid-single-digit loan growth, citing diverse geographic coverage [64][77] Question: Impact of tariffs on credit - Management reported that less than 5% of exposures were at risk from tariffs and emphasized proactive communication with clients to manage potential impacts [82][87] Question: Expense guidance and flexibility - Management explained that the second quarter expense guidance reflects seasonal expenses and that there is flexibility to reduce expenses if revenues fall short [93][96] Question: Fee income guidance and capital markets activity - Management highlighted expectations for increased fee income driven by derivatives and potential acceleration in middle market M&A activity [102][106]