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Midland States Bancorp, Inc. to Announce Second Quarter 2025 Financial Results on Thursday, July 24
Globenewswire· 2025-07-10 20:30
Financial Results Announcement - Midland States Bancorp, Inc. will issue its second quarter 2025 financial results after market close on July 24, 2025 [1] - An investor presentation will accompany the financial results and will be available on the company's investor relations website [1] Company Overview - Midland States Bancorp, Inc. is a community-based financial holding company headquartered in Effingham, Illinois [2] - The company is the sole shareholder of Midland States Bank and had total assets of approximately $7.28 billion as of March 31, 2025 [2] - The Wealth Management Group of the company had assets under administration of approximately $4.10 billion [2] - The company offers a full range of commercial and consumer banking products and services, including business equipment financing, merchant credit card services, trust and investment management, insurance, and financial planning services [2]
QCR Holdings, Inc. to Report Second Quarter 2025 Financial Results
Globenewswire· 2025-07-02 20:05
MOLINE, Ill., July 02, 2025 (GLOBE NEWSWIRE) -- QCR Holdings, Inc. (NASDAQ: QCRH) (“QCRH” or the “Company”) announced today that its second quarter ended June 30, 2025, financial results will be released after the market closes on Wednesday, July 23, 2025. The Company will host a conference call and webcast the next day, Thursday, July 24, 2025, at 10:00 a.m. Central Time to discuss the results. Shareholders, analysts, and other interested parties are invited to join. Teleconference: Dial-in information fo ...
Best Value Stock to Buy for June 13th
ZACKS· 2025-06-13 12:00
Here is the stock with buy rank and strong value characteristics for investors to consider today, June 13th:  Chemung Financial Corp (CHMG) : This bank holding company which is engaged thru the bank in full-service commercial and consumer banking and trust business, carries a Zacks Rank #1 (Strong Buy), and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 1.1% over the last 60 days.Chemung Financial has a price-to-earnings ratio (P/E) of 8.85 compared with 10.80 for the in ...
Best Income Stock to Buy for June 13th
ZACKS· 2025-06-13 11:51
Here is the stock with buy rank and strong income characteristics for investors to consider today, June 13th:Chemung Financial Corp (CHMG) : This bank holding company which is engaged thru the bank in full-service commercial and consumer banking and trust business, has witnessed the Zacks Consensus Estimate for its current year earnings increasing 1.1% over the last 60 days.This Zacks Rank #1 (Strong Buy) company has a dividend yield of 2.6%, compared with the industry average of 2.4%. See the full list of ...
NB Bancorp, Inc. and Provident Bancorp, Inc. Enter Into Definitive Merger Agreement
Prnewswire· 2025-06-05 20:38
Key Highlights: Merger expands Needham Bank's branch footprint into the North Shore of Massachusetts and New Hampshire The merger is expected to be approximately 19% accretive to NB Bancorp, Inc.'s earnings per share in 2026, the first full year of combined operations, assuming full phase-in of cost savings Needham Bank will remain well capitalized with high levels of liquidity after the merger NEEDHAM, Mass. and AMESBURY, Mass., June 5, 2025 /PRNewswire/ -- NB Bancorp, Inc. ("Needham") (Nasdaq: NBBK), the ...
Midland States Bancorp, Inc. Announces Preliminary 2025 First Quarter Results
Globenewswire· 2025-04-30 20:30
Core Viewpoint - Midland States Bancorp, Inc. reported preliminary results for the first quarter of 2025, indicating ongoing evaluations of accounting and financial reporting related to third-party lending and servicing arrangements, which may lead to restated financial statements for 2024 [1][2]. Preliminary Financial Results - The preliminary results reflect updated accounting methodologies for third-party lending and servicing arrangements, with actual results potentially differing materially from these preliminary figures [2]. - Net income available to common shareholders for Q1 2025 was $12.6 million, or $0.57 per diluted share, with pre-tax, pre-provision earnings of $27.0 million, or $1.12 per diluted share [7][17]. Asset Quality and Credit Trends - As of March 31, 2025, nonperforming loans totaled $140.0 million, with net charge-offs of $16.9 million, including $11.1 million from fully reimbursed charge-offs related to third-party lending programs [11][12]. - The company reported no significant new substandard or nonperforming loans during the quarter, and substandard accruing loans decreased slightly to $75.7 million [11][12]. Loan and Deposit Portfolio - Total loans decreased to $5.02 billion, with a notable decrease in the Specialty Finance loan portfolio by $159.3 million due to tightened credit standards [12]. - Total deposits were $5.94 billion, reflecting a decrease of $260.8 million from the previous quarter, with retail deposits increasing by $96.8 million [12]. Profitability and Capital Ratios - The net interest margin for Q1 2025 was reported at 3.48%, with a continued decline in the cost of funding to 2.29% [14]. - The company exceeded all regulatory capital requirements under Basel III, with total capital to risk-weighted assets at 13.77% [18]. Wealth Management and Noninterest Income - Wealth management revenue totaled $7.4 million for Q1 2025, with assets under administration at $4.10 billion [12]. - Noninterest income for the quarter was $17.8 million, impacted by losses on limited partnership investments and credit enhancements [16][21].
Zacks Initiates Coverage of Ohio Valley Banc With Outperform Recommendation
ZACKS· 2025-04-15 15:50
Core Viewpoint - Zacks Investment Research has initiated coverage of Ohio Valley Banc Corp. (OVBC) with an "Outperform" recommendation, highlighting strong core earnings momentum and disciplined cost actions [1] Company Overview - Ohio Valley Banc, based in Gallipolis, OH, is a financial holding company providing commercial and consumer banking services, personal and commercial loans, construction and real estate loans, safe deposit boxes, and trust services [2] - The company operates through its main banking subsidiary, The Ohio Valley Bank Company, offering a wide range of community banking services in southeastern Ohio and western West Virginia [2] Financial Performance - In 2024, OVBC achieved solid loan growth, resulting in a $2.8 million increase in net interest income, totaling $48.8 million [3] - The company experienced a $148 million rise in deposits, primarily due to participation in state-subsidized homebuyer savings programs [3] - A strategic capital deployment into securities led to a $105 million increase in 2024, with interest and dividend income from securities rising over 50% year over year [4] - Non-interest income increased by 4.3% in 2024, contributing to earnings stability amid an uncertain rate environment [4] Strategic Initiatives - Ohio Valley Banc is focused on streamlining expenses, which is expected to improve the efficiency ratio over time [4] - The stock has significantly outperformed industry peers and the broader market over the past year, indicating a compelling entry point for long-term investors [6] - The company's modest market capitalization of $136.9 million suggests potential for growth in a promising but risky market segment [7]