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Horizon Bancorp, Inc. Announces Conference Call to Review Second Quarter Results on July 24
Globenewswire· 2025-07-01 21:05
MICHIGAN CITY, Ind., July 01, 2025 (GLOBE NEWSWIRE) -- (NASDAQ GS: HBNC) – Horizon Bancorp, Inc. (“Horizon” or the “Company”) will host a conference call at 7:30 a.m. CT on Thursday, July 24, 2025 to review its second quarter 2025 financial results. The Company’s second quarter 2025 news release will be published after markets close on Wednesday, July 23, 2025. It will be available at investor.horizonbank.com. Participants may access the live conference call on July 24, 2025 at 7:30 a.m. CT (8:30 a.m. ET) b ...
Medallion Financial (MFIN) - 2025 Q1 - Earnings Call Transcript
2025-05-01 14:02
Financial Data and Key Metrics Changes - The company reported a net income of $12 million and earnings per share of $0.50 for the quarter [5] - Net interest income grew by 7% to $51.4 million compared to the previous year [13] - The net interest margin on gross loans was 7.94%, up 10 basis points from the previous quarter [13] - The net book value per share increased to $16.36 from $16 in the prior quarter and $14.93 a year ago [17] Business Line Data and Key Metrics Changes - The consumer lending business originated $136 million in loans, maintaining a loan book of $2.4 billion [5] - Recreation loans originated totaled $86.8 million at an average rate of 16.06%, while home improvement loans were $48.8 million at an average rate of 11.5% [14] - The commercial lending division originated $9.7 million in new loans and exited one loan with a significant return [6][7] Market Data and Key Metrics Changes - The company collected $2.6 million in cash from its taxi medallion business, consistent with the previous quarter [9] - The strategic partnership program achieved over $125 million in originations for the second consecutive quarter [10] Company Strategy and Development Direction - The company is focused on a methodical approach to growth, ensuring sustainable practices in its lending operations [11] - There is an ongoing effort to expand the strategic partnership program, with expectations to add new partners over time [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the stability of cash collections from the taxi medallion business and identified recovery opportunities in charge-off loans [9] - The company anticipates continued gains from its equity investments, although the timing of exits remains unpredictable [8][27] Other Important Information - The company repurchased approximately 60,000 shares and has $15 million remaining under its share repurchase plan [11] - A 9% increase in the quarterly dividend to $0.12 per share was approved by the Board, marking the third increase since reinstating the dividend [12] Q&A Session Summary Question: Were there any nonrecurring expense items aside from those highlighted? - Management noted elevated professional fees, including $300,000 in technology costs and $600,000 related to the annual meeting [20] Question: Any update on the SEC matter? - Management believes the SEC matter has been resolved, pending board approval and judicial sign-off [22] Question: What flexibility exists in building reserves? - Management confirmed flexibility in determining allowances, using qualitative factors to increase consumer provisions [23] Question: Any anticipated capital gains from Medallion Capital? - Management expects one or two more capital gains this year, though timing is uncertain [27] Question: Outlook on normalized earnings? - Management discussed adjustments for nonrecurring items and expected normalized earnings to be around $0.35 per share [36] Question: Timing for loan sales? - Management anticipates closing a loan sale in Q2, with another sale expected in Q3 or Q4 [38] Question: Durability of strategic partnership loan volume? - Management expressed confidence in maintaining loan volume above $100 million per quarter, with potential for growth [43] Question: Outlook on margins and loan growth? - Management expects margins to remain stable and projects loan growth of 5% to 7% for the year [48]
Medallion Financial (MFIN) - 2025 Q1 - Earnings Call Transcript
2025-05-01 14:02
Financial Data and Key Metrics Changes - The company reported a net income of $12 million and earnings per share of $0.50 for the quarter [5] - Net interest income grew by 7% to $51.4 million compared to the previous year [13] - The net interest margin on gross loans was 7.94%, up 10 basis points from the previous quarter [13] - The net book value per share increased to $16.36 from $16 in the prior quarter and $14.93 a year ago [17] Business Line Data and Key Metrics Changes - The consumer lending business originated $136 million in loans, maintaining a loan book of $2.4 billion [5] - Recreation loans originated totaled $86.8 million at an average rate of 16.06%, while home improvement loans were $48.8 million at an average rate of 11.5% [14] - The commercial lending division originated new and follow-on loans totaling $9.7 million [6] Market Data and Key Metrics Changes - The company reported $2.6 million in cash collections from the taxi medallion business, consistent with the previous quarter [9] - The strategic partnership program achieved over $125 million in originations for the second consecutive quarter [10] Company Strategy and Development Direction - The company is focused on a methodical approach to growth, ensuring it continues to expand correctly [11] - The strategic partnership program is expected to diversify offerings, including loans for employee benefits and medical procedures [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the stability of cash collections from the taxi medallion business and identified recovery opportunities from charge-off loans [9] - The company anticipates continued gains from equity investments, although the timing of exits is unpredictable [8][27] Other Important Information - The company repurchased approximately 60,000 shares and has nearly $15 million remaining under its share repurchase plan [11] - A 9% increase in the quarterly dividend to $0.12 per share was approved by the Board [12] Q&A Session Summary Question: Were there any nonrecurring expense items aside from those highlighted? - Management noted elevated professional fees, including $300,000 in technology costs and $600,000 related to the annual meeting [20] Question: Any update on the SEC matter? - Management believes the matter has been resolved, pending board approval and a judge's sign-off [22] Question: What flexibility exists in building reserves? - Management confirmed flexibility in determining allowances, using qualitative factors in Q1 [23] Question: Are there any anticipated capital gains from Medallion Capital for the rest of the year? - Management expects one or two more capital gains this year, though timing is uncertain [27] Question: What is the outlook on margins and total loan growth for the rest of the year? - Management anticipates margins to remain stable and expects loan growth of 5% to 7% for the year [49][50]
Medallion Financial (MFIN) - 2025 Q1 - Earnings Call Presentation
2025-04-30 21:36
FIRST QUARTER 2025 EARNINGS SUPPLEMENT – APRIL 30, 2025 Important Information This presentation contains certain forward-looking statements, including statements with regard to the future performance of Medallion Financial Corp. ("MFIN" or the "Company"). Words such as "believes," "expects," "projects," "anticipates" and "future" or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on information available to us at the time of this presentati ...