YUBA CITY, Calif., May 15, 2025 (GLOBE NEWSWIRE) -- River Valley Community Bancorp (OTC Markets: RVCB) is pleased to announce the formation of an experienced banking team for its new Roseville branch. This group of skilled banking professionals adds to an existing experienced team, all of which are ready to deliver the kind of personalized, full-service community banking that local businesses throughout Placer County deserve. The Roseville team embodies River Valley Community Bank’s promise of banking done ...

Core Insights - The company reported a net income of $842,000 for Q1 2025, a significant decrease from $2.19 million in Q1 2024, resulting in earnings per share of $0.19 compared to $0.48 a year earlier [2][14] - The decrease in earnings was primarily due to a one-time expense of approximately $1 million related to a consultant for negotiating a contract with the core service provider, which is expected to yield long-term cost savings [4][10] - The company maintained a strong cash position, allowing it to pay off approximately $10 million of capital notes without raising new capital, which will reduce annual interest expenses by about $327,000 [5] Financial Performance - Total interest income increased by 6.90% to $11.23 million in Q1 2025 from $10.51 million in Q1 2024, driven by higher yields on loans and growth in commercial real estate loans [12][14] - Net interest income after provision for credit losses rose to $7.58 million, compared to $7.50 million a year earlier, with a net interest margin improvement to 3.25% from 3.02% [11][15] - Noninterest income was stable at $3.28 million, with contributions from commercial treasury services and wealth management activities [16][14] Asset Quality and Growth - Total assets grew by 3% to $1.01 billion at March 31, 2025, from $979.24 million at December 31, 2024, with loans net of allowance for credit losses increasing to $642.39 million [18][24] - The ratio of nonperforming loans to total loans was 0.28%, indicating strong asset quality, with total nonperforming loans at $1.80 million [22][24] - The company added two experienced commercial relationship managers to enhance its commercial lending capabilities and expand market share [8][9] Shareholder Value - Stockholders' equity increased to $68.35 million at March 31, 2025, up from $64.87 million at December 31, 2024, with a book value per share rising to $15.04 from $14.28 [24][14] - The board of directors approved a quarterly dividend of $0.10 per common share, reflecting the company's commitment to returning value to shareholders [14]

ConnectOne Bancorp (CNOB) Q1 2025 Earnings Call April 24, 2025 10:00 AM ET Company Participants Siya Vansia - Chief Brand and Innovation OfficerFrank Sorrentino - Chairman and Chief Executive OfficerWilliam Burns - Senior EVP & CFOTim Switzer - Vice PresidentFeddie Strickland - DirectorDaniel Tamayo - Vice President Conference Call Participants Matt Breese - Managing Director & Research Analyst Operator Thank you for standing by. My name is Kate, and I will be your conference operator today. At this time, I ...

Synovus Financial (SNV) 2023 Conference November 02, 2023 03:05 PM ET Speaker0 Perfect. Good afternoon. We are very happy to have $4,000,000,000 market cap Cenovus Financial join us this year at the conference. Cenovus traces its roots back to 1888 in the textile industry and is headquartered under miles south of Atlanta with market presence throughout the Southeast. Cenovus' stock currently trades at just tangible book value and just seven times 24 earnings. Importantly, Synovus of today is drastically dif ...