NEW YORK, Nov. 21, 2025 (GLOBE NEWSWIRE) -- Figure Technology Solutions, Inc. (Nasdaq: FIGR), the leading blockchain-native capital marketplace for the origination, funding, sale and trading of on-chain loan products and tokenized assets, today announced that it will participate in two upcoming investor conferences, both to be held on Wednesday, December 10, 2025. Chief Executive Officer Michael Tannenbaum will participate in a fireside chat at the Goldman Sachs 2025 Financial Services Conference in New Yor ...

Core Insights - Upstart Holdings (UPST) has experienced significant stock volatility, dropping over 41% in the last three months despite reporting strong quarterly results [1][7] - The decline is attributed to broader market trends affecting high-growth fintech companies and concerns over Upstart's conservative lending models [1][11] Financial Performance - In Q3, Upstart reported total revenues of $277 million, a 71% increase year-over-year, and loan originations of approximately $2.9 billion, up 80% [3] - The company's AI-driven credit models adjusted approval rates in response to macroeconomic signals, leading to a decrease in conversion rates from 23.9% in Q2 to 20.6% in Q3 [4][3] Product Diversification - Upstart's newer products, including auto, home equity, and small-dollar loans, contributed nearly 12% of total originations, with auto retail loan activity growing over 70% sequentially [5][8] - Instant approvals for small-dollar loans improved significantly, with funding times reduced to under two minutes for qualified borrowers [8] Funding and Partnerships - The company achieved its best quarter for new bank and credit union partnerships, adding seven partners and reaching an all-time high in available monthly funding [9] - Upstart maintained 100% retention of all private credit partners and completed a successful securitization in September, indicating strong investor interest [9] Market Concerns - Despite operational improvements, there are concerns regarding model volatility and the larger-than-normal loan balance as the company transitions new products [11][12] - The stock remains sensitive to macroeconomic factors, particularly interest rates, which adds volatility beyond the company's fundamentals [13] Valuation and Estimates - Recent estimate revisions show an upward trend for the full-year 2025 EPS but downward revisions for 2026, indicating mixed market sentiment [14] - Upstart shares are currently considered overvalued, trading at a forward Price/Sales (P/S) ratio of 3.11, slightly below the industry average [16] Conclusion - Upstart's recent performance contrasts with its stock decline, highlighting improvements in revenues, profitability, and product expansion [17] - The company presents a promising long-term investment opportunity, but requires steadier macro signals and consistent model calibration for a stronger buy case [18]

Core Insights - Less than half of Americans are adequately prepared for retirement, with Vanguard indicating that this group may struggle to maintain their current lifestyles in retirement [1] - The importance of early retirement planning is emphasized, as relying solely on Social Security is insufficient for most individuals [2] Generation Analysis - Vanguard estimates that only 40% of baby boomers are on track for retirement, while Gen Z shows a more favorable statistic with 47% on track [3] - Millennials and Gen X are in the middle, with 42% and 41% respectively [3] Technological Impact - Technology has contributed to Gen Z's preparedness, with automatic wealth-building strategies and accessible financial tools allowing earlier engagement in wealth accumulation [4] - Features such as autoenrollment and target-date funds have significantly improved savings behavior and investment outcomes [4] Homeownership Influence - Homeownership is a critical factor that can enhance retirement preparedness, giving baby boomers an advantage over younger generations [5] - Nearly 90% of baby boomers own homes, providing them with options like home equity loans and reverse mortgages to facilitate retirement [6] - For baby boomers in the lower 30th income percentile, having home equity increases their retirement preparedness from 15% to 42% [7]

Financial Data and Key Metrics Changes - TrustCo Bank Corp NY reported a net income of $16.3 million for Q3 2025, representing a 26.3% increase compared to Q3 2024, with a return on average assets of 1.02% and return on average equity of 9.29% [8][9] - The efficiency ratio improved by almost 9% year-over-year, indicating enhanced operational efficiency [5] - The consolidated equity-to-assets ratio was 10.90% for Q3 2025, slightly down from 10.95% in Q3 2024 [9] Business Line Data and Key Metrics Changes - Average loans grew by 2.5% or $125.9 million to $5.2 billion, with home equity loans increasing by $59.9 million or 15.7% [10][15] - Residential real estate loans increased by $34 million or 0.8%, while average commercial loans rose by $34.6 million or 12.4% [10] - Non-performing loans decreased to $18.5 million from $19.4 million year-over-year, with non-performing loans to total loans at 0.36% [9][18] Market Data and Key Metrics Changes - Total deposits reached $5.5 billion, up $217 million compared to the prior year, reflecting strong customer confidence [11] - The net interest margin for Q3 2025 was 2.79%, an increase of 18 basis points from the prior year [12] - The yield on interest-earning assets increased to 4.25%, while the cost of interest-bearing liabilities decreased to 1.9% [12] Company Strategy and Development Direction - The company aims to build long-term shareholder value through disciplined share repurchase programs, having repurchased nearly half of the approved one million shares [7] - TrustCo Bank Corp NY focuses on maintaining high-quality underwriting standards and conservative lending practices to manage credit risk effectively [10][17] - The company is exploring expansion opportunities in Pasco County, Florida, and other locations in downstate New York [31] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the bank's competitive deposit offerings and the potential for net interest income upside due to maturing CDs [26][27] - The real estate market remains strong, contributing to recoveries and demand for loans, particularly in home equity lending [28][29] - The bank is well-positioned to continue delivering strong financial performance despite potential easing from the Federal Reserve [12] Other Important Information - The wealth management division had approximately $1.25 billion in assets under management, contributing significantly to non-interest income [13][14] - Total non-interest expense was $26.2 million, slightly down from the prior year, indicating effective cost management [14] Q&A Session Summary Question: Can you quantify the expected net interest income upside? - The highest rate offered is 4% for a three-month CD, with about $1 billion in CDs maturing over the next six months, expected to reprice favorably [26][27] Question: How many homes relate to the recoveries mentioned? - The $194,000 in recoveries corresponds to approximately five properties, indicating a strong real estate market with high demand [28][29] Question: What are the plans for branch expansion? - The company is considering expansion in Pasco County, Florida, and is also looking for opportunities in downstate New York [30][31]

Financial Data and Key Metrics Changes - TrustCo Bank reported a net income of $16.3 million for Q3 2025, a 26.3% increase compared to Q3 2024, with a return on average assets of 1.02% and return on average equity of 9.29% [8][9] - The efficiency ratio improved by almost 9% year-over-year, indicating enhanced profitability and operational efficiency [5] - The consolidated equity-to-assets ratio was 10.90% for Q3 2025, slightly down from 10.95% in Q3 2024 [9] Business Line Data and Key Metrics Changes - Average loans grew by 2.5% or $125.9 million to $5.2 billion year-over-year, with home equity loans increasing by 15.7% [10][14] - The residential real estate portfolio increased by $34 million or 0.8%, while average commercial loans rose by $34.6 million or 12.4% [10] - Non-performing loans decreased to $18.5 million, with non-performing loans to total loans at 0.36%, down from 0.38% a year ago [9][17] Market Data and Key Metrics Changes - Total deposits reached $5.5 billion, up $217 million compared to the prior year, reflecting strong customer confidence [11] - The net interest margin for Q3 2025 was 2.79%, an increase of 18 basis points from the prior year [12] - The yield on interest-earning assets increased to 4.25%, while the cost of interest-bearing liabilities decreased to 1.9% [12] Company Strategy and Development Direction - TrustCo Bank aims to enhance shareholder value through a disciplined share repurchase program, having repurchased nearly half of the approved one million shares [7][9] - The company focuses on maintaining high-quality underwriting standards and conservative lending practices to manage credit risk effectively [10][16] - Expansion opportunities are being explored in Pasco County, Florida, and downstate New York, with a focus on strategic locations [29][30] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the bank's long-term strength and the potential for meaningful net interest income upside due to maturing CDs [25][26] - The real estate market remains strong, contributing to recoveries and demand for loans, particularly in residential and home equity segments [28][14] - The bank is well-positioned to continue delivering strong financial performance despite potential easing from the Federal Reserve [12] Other Important Information - The wealth management division had approximately $1.25 billion in assets under management, contributing significantly to non-interest income [12][13] - Total non-interest expense was $26.2 million, slightly down from the prior year, indicating effective cost management [13] Q&A Session Summary Question: What is the average rate for maturing CDs compared to new CDs? - The average rate on the $1 billion in CDs coming due is about 3.75%, with the highest rate currently offered at 4% for a three-month term [25][26] Question: Can you explain the recoveries in New York? - The recoveries are largely due to a strong real estate market, with $194,000 in recoveries relating to approximately five properties taken back [28] Question: What are the company's expansion plans? - TrustCo is looking at opportunities in Pasco County, Florida, and other locations in downstate New York for potential growth [29][30]

Core Insights - Home equity lines of credit (HELOCs) are valuable for debt consolidation and home repairs, but the amount one can borrow depends on individual financial circumstances and lender criteria [1] Borrowing Capacity - The borrowing amount from a HELOC is determined by the combined loan-to-value (CLTV) ratio, which compares the total debt on the property to its market value. Most lenders allow borrowing between 80% and 85% of the home's value minus any existing mortgage balance [2][9] - For example, if a home is valued at $350,000 with a mortgage balance of $100,000, and the lender allows borrowing up to 85%, the potential borrowing amount would be $197,500 [3][4] Factors Influencing HELOC Approval - Lenders consider several factors beyond the CLTV ratio, including: - The appraised value of the home, which directly affects equity and borrowing potential [6] - The debt-to-income (DTI) ratio, with a typical requirement of no more than 40% to 50% [6] - The borrower's credit score, which influences the interest rate and borrowing limits [6] - The borrower's income stability and amount, which assures lenders of repayment capability [6] Lender-Specific Limits - Different lenders have maximum borrowing limits for HELOCs; for instance, PenFed Credit Union has a maximum limit of $500,000 [7] Alternatives to HELOCs - If qualifying for a HELOC is a concern, there are alternative financing options available, such as home equity loans, reverse mortgages, cash-out refinancing, home equity sharing agreements, 401(k) loans, and personal loans [8][13]

Core Insights - Figure Technology Solutions, Inc. (NASDAQ:FIGR) has reached an all-time high of $42.74, reflecting strong investor interest ahead of a potential interest rate cut by the Federal Reserve [2][3] - The company utilizes blockchain technology to facilitate connections between lenders and borrowers in the home loan market, positioning itself to benefit from lower borrowing rates [3][4] Group 1 - Figure Technology Solutions, Inc. extended its winning streak to hit another all-time high, closing up 8.44% at $40.48 [2] - The anticipated interest rate cut by the US central bank is expected to increase demand for mortgages, refinancing, and home equity loans, benefiting lenders [4] - The company claims to fund home equity loans in just 10 days, significantly faster than the industry average of 42 days [4] Group 2 - Figure Technology Solutions debuted on the Nasdaq exchange, raising $787.5 million from the sale of 31.5 million shares [5]

Core Insights - Figure Technology Solutions, Inc. (NASDAQ:FIGR) has shown significant stock performance, with a 14.86% increase on Monday, closing at $37.33, driven by investor optimism ahead of the Federal Open Market Committee (FOMC) meeting expected to result in a rate cut [1][3] - The stock reached an intra-day high of $40.39, representing a 29.8% increase from its market debut closing price of $31.11 [2] - The company is positioned to benefit from lower interest rates, which are anticipated to encourage more borrowers to seek loans [3] Company Overview - Figure Technology Solutions, Inc. raised $787.5 million through its initial public offering (IPO), selling 31.5 million shares [4] - Founded in 2018, the company utilizes blockchain technology to streamline the connection between lenders and borrowers for home loans, funding home equity loans in an average of 10 days compared to the industry average of 42 days [4]

Company Overview - Figure Technologies, a blockchain-focused lending platform founded by Mike Cagney, has priced its initial public offering (IPO) at $25 per share, aiming to raise $787.5 million [1] - The company has originated over $16 billion in home equity loans, positioning itself as the largest non-bank provider in this financing sector [2] IPO Details - The offering consists of 31.5 million shares, with approximately 23.5 million shares coming directly from Figure and 8 million from existing shareholders. An additional 4.7 million shares may be sold if underwriters exercise their option [2] - The IPO was upsized to $526 million last week, indicating strong demand [2] - The shares are set to begin trading on the Nasdaq under the ticker symbol "FIGR" on September 11, with the offering expected to close on September 12, pending typical closing conditions [1][3] Underwriters - Goldman Sachs, Jefferies, and BofA Securities are leading the offering, supported by other underwriters including Societe Generale, Stifel, and Mizuho [3]

Core Insights - Upstart Holdings, Inc. (UPST) is transforming consumer lending through AI, achieving 92% automation in loan approvals, leading to a 154% year-over-year increase in originations to $2.8 billion in Q2 2025 and an improvement in conversion rates from 15.2% to 23.9% [1][10] Group 1: Underwriting and AI Enhancements - The introduction of Model 22 has improved separation accuracy by approximately 17 percentage points compared to traditional credit models, enhancing risk prediction and underwriter confidence, resulting in a contribution margin of 58% [2] - Upstart is also developing AI-based servicing tools aimed at reducing delinquencies and providing individualized recovery suggestions to enhance collections and borrower outcomes [3] Group 2: Product Expansion and Performance - Auto originations increased by 87% sequentially to $114 million, while home equity originations rose by 67% sequentially to $68 million, showcasing the versatility of Upstart's AI across different lending verticals [4] - The company has seen a significant internal adoption of generative AI, with 60% of developers using LLM-powered tools and over 700 custom GPTs created, which enhances operational efficiency and customer interactions [5] Group 3: Market Position and Valuation - Upstart's stock has appreciated by 21.2% over the past three months, outperforming the broader industry and the S&P 500 [9] - Despite strong performance, Upstart shares are considered overvalued with a Price/Sales ratio of 5.33X, above the industry average of 3.49X [11] - The Zacks Consensus Estimate for EPS has been revised upward for both 2025 and 2026, indicating positive market sentiment [12]