Chimera Investment (CIM) Q1 2025 Earnings Call May 08, 2025 08:30 AM ET Company Participants Victor Falvo - Head of Capital MarketsPhillip Kardis - President, CEO & DirectorSubramaniam Viswanathan - CFO & Principal Accounting OfficerJack Macdowell - Chief Investment OfficerTrevor Cranston - Managing DirectorBose George - Managing DirectorEric Hagen - Managing Director Conference Call Participants Douglas Harter - Equity Research Analyst Operator Good day, ladies and gentlemen, and welcome to the Chimera Inv ...

Financial Data and Key Metrics Changes - Earnings available for distribution improved by 11% and book value increased by 7.4% with an economic return of 9.2% for the quarter [6] - GAAP net income for the first quarter was $145.9 million or $1.77 per share, while GAAP book value at the end of the quarter was $21.17 per share [13] - Economic net interest income for the first quarter was $72.3 million with a yield on average interest-earning assets of 5.9% and an average cost of funds of 4.4%, resulting in a net interest spread of 1.5% [14] Business Line Data and Key Metrics Changes - Third-party loans under management by Palisades Advisory Services increased by 43% year over year, reaching nearly $24 billion [7] - The company executed impactful balance sheet moves, including cash-out refinancing that unlocked $187 million [8] - The company settled $100 million in residential transition loans during the quarter, expecting mid-teen levered returns [9] Market Data and Key Metrics Changes - National home price growth was 3.9% year over year, with varying performance across regions [22] - Existing home sales declined to a 4 million unit annualized pace, marking the slowest first quarter since 2009 [22] - Delinquency rates remained stable at 8.9% for the re-performing loan portfolio, with prepayments at 5.5% [24] Company Strategy and Development Direction - The company aims to build a hybrid mortgage REIT that is resilient and diversified, focusing on diversifying the portfolio and growing recurring fee income [11][32] - The strategy includes adding Agency RMBS assets and evaluating MSR opportunities to generate attractive returns [31] - The company is focused on disciplined risk management and thoughtful portfolio construction to support attractive risk-adjusted returns [32] Management's Comments on Operating Environment and Future Outlook - Management noted that despite market volatility, the company is holding steady and expects to continue growing third-party loans under management [10] - The current book value is estimated to be flat to slightly down, with a focus on building liquidity [10][36] - Management expressed cautious optimism regarding the growth potential of the third-party business, depending on the mortgage market [42] Other Important Information - The company ended the quarter with $697 million in total cash and unencumbered assets, enhancing liquidity [14] - The company refinanced two structured repo lines, extending maturities and lowering costs, which unlocked additional cash for investment [27] Q&A Session Summary Question: Clarification on book value performance - Management indicated that book value was down about 40 basis points as of the latest update [35] Question: Timing for deploying freed-up investment capital - Approximately 33% to 40% of the $187 million has been deployed, with a focus on building liquidity [36][37] Question: Outlook for third-party business growth - Management is bullish on growth potential, depending on the mortgage market and client acquisition [42] Question: Sensitivity to higher delinquency rates - Management noted that delinquencies in the re-performing loan portfolio are stable and not considered high for that product type [58][62] Question: Details on new loan facilities and advance rates - Management did not disclose specific advance rates but confirmed that the facilities are structured repo facilities with limited mark-to-market features [63][65]

P R O P R I E T A R Y & CO N F I D E N T I A L I N V E S T O R P R E S E N T A T I O N Q 1 | 2 0 2 5 Disclaimer I n f o r m a t i o n u n a u d i t e d , e s t i m a t e d , a n d s u b j e c t t o c h a n g e . 2 Non-GAAP Financial Measures This presentation includes certain non-GAAP financial measures, including earnings available for distribution. We believe the non-GAAP financial measures are useful for management, investors, analysts, and other interested parties in evaluating our performance but shoul ...

Manhattan, KS, April 30, 2025 (GLOBE NEWSWIRE) -- Landmark Bancorp, Inc. (“Landmark”; Nasdaq: LARK) reported diluted earnings per share of $0.81 for the three months ended March 31, 2025, compared to $0.57 per share in the fourth quarter of 2024 and $0.48 per share in the same quarter last year. Net income for the first quarter totaled $4.7 million, compared to $3.3 million in the prior quarter and $2.8 million in the first quarter of 2024. For the three months ended March 31, 2025, the return on average as ...

EAU CLAIRE, Wis., April 28, 2025 (GLOBE NEWSWIRE) -- Citizens Community Bancorp, Inc. (the "Company") (Nasdaq: CZWI), the parent company of Citizens Community Federal N.A. (the "Bank" or "CCFBank"), today reported earnings of $3.2 million and earnings per diluted share of $0.32 for the first quarter ended March 31, 2025, compared to $2.7 million and earnings per diluted share of $0.27 for the fourth quarter ended December 31, 2024, and $4.1 million and $0.39 earnings per diluted share for the quarter ended ...

Financial Data and Key Metrics Changes - Earnings per share (EPS) was $0.87 and net income was $33 million, both exceeding Q4 2024 and Q1 2024, significantly above consensus estimates [7] - Customer deposit growth was over 7% annualized, marking the seventh consecutive quarter of growth [7][10] - Net interest margin (NIM) expanded by four basis points to 3.81% due to decreased funding costs [17] Business Line Data and Key Metrics Changes - Total loan growth was $93 million or 4.89% annualized, consistent with previous guidance [10] - Consumer loan growth was $12 million, driven by residential mortgage and home equity [11] - Commercial loan growth exceeded $81 million, primarily from commercial real estate and construction segments [12] Market Data and Key Metrics Changes - The majority of deposit growth came from consumer activities, with significant contributions from money market accounts [11] - The commercial and industrial (C&I) balances declined by $20 million, reflecting reduced borrowings in specific categories [13] Company Strategy and Development Direction - The company is focused on enhancing its deposit franchise, maintaining top quartile profitability, and ensuring high asset quality [6] - There is an emphasis on organic and inorganic growth opportunities, with plans to cross $10 billion in assets in the second half of the year [27] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate market uncertainties, supported by strong employee engagement and performance recognition [6] - The outlook for loan growth remains positive, with expectations for mid-single-digit growth in the short term [13] Other Important Information - Non-interest income declined by $700,000 due to seasonal factors, but core non-interest income remained stable year-over-year [18] - The total capital ratio increased by 34 basis points, positioning the company well for future growth opportunities [19] Q&A Session Summary Question: Thoughts on deals in the current environment and timing for crossing $10 billion in assets - Management indicated ongoing conversations in the market and anticipated crossing $10 billion in the second half of the year, with preparations for regulatory requirements [27] Question: Insights on spreads in C&I and commercial real estate - Spreads in C&I remained stable, with hesitancy observed among customers due to economic uncertainty, while some regional banks have become more aggressive in commercial real estate [28][29] Question: Impact of tariffs on borrower base and credit trends - Management is actively monitoring the impact of tariffs and has seen stability in criticized and classified loans, indicating a normalization in credit trends [36][37] Question: Expectations for loan yields and securities cash flows - New loan yields were reported in the $6.75 range, with expectations for continued support to the margin from securities and swaps [43][44] Question: Hiring expectations and pipeline growth - The company is focused on recruiting C&I bankers to support pipeline expansion, with a cautious approach to hiring amid macroeconomic uncertainties [53]

Financial Data and Key Metrics Changes - Earnings per share (EPS) was $0.87 and net income was $33 million, both exceeding Q4 2024 and Q1 2024, significantly above consensus estimates [7] - Customer deposit growth was over 7% annualized, marking the seventh consecutive quarter of growth [7][10] - Net interest margin (NIM) expanded by four basis points to 3.81%, with funding costs decreasing [8][17] Business Line Data and Key Metrics Changes - Total loan growth was $93 million or 4.89% annualized, consistent with previous guidance [10] - Consumer loan growth was $12 million, driven by residential mortgage and home equity [11] - Commercial loan growth exceeded $81 million, primarily from commercial real estate and construction segments [12] Market Data and Key Metrics Changes - The majority of deposit growth came from consumer activities, with significant contributions from money market accounts [11] - The commercial and industrial (C&I) balances declined by $20 million, reflecting reduced automobile floor plan borrowings [13] Company Strategy and Development Direction - The company is focused on enhancing its deposit franchise, maintaining top quartile profitability, and ensuring high asset quality [6] - There is an emphasis on organic growth through hiring additional bankers and improving customer engagement [52] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate market uncertainties, supported by strong employee engagement and financial performance [6] - The outlook for loan growth remains positive, with expectations for mid-single-digit growth in the short term and high mid-single-digit growth in the latter half of 2025 [13][40] Other Important Information - The allowance for credit losses declined by approximately $2.5 million, ending the quarter at 1.26% of total loans [14] - Non-interest income declined by $700,000 due to seasonally lower customer activity [18] Q&A Session Summary Question: Thoughts on deals in the current environment and timing for crossing $10 billion without a deal - Management indicated ongoing conversations in the market and anticipated crossing $10 billion in the second half of the year, prepared for regulatory requirements [26] Question: Insights on spreads in C&I and CRE - Spreads in the C&I space remained stable, with hesitancy among customers due to economic uncertainty; CRE spreads faced pressure from larger banks becoming more aggressive [27][28] Question: Impact of tariffs on borrower base and credit trends - Management is actively monitoring credit risk related to tariffs and has seen stabilization in criticized and classified loans [36][39] Question: Expectations for loan yields and securities cash flows - New loan yields were around 6.75%, with expectations for continued support to the margin from securities and swaps [42][45] Question: Hiring expectations for the year - The company is focused on recruiting C&I bankers to support pipeline expansion, with a 15% increase in calling officers already achieved [52]

Hanmi Financial (HAFC) Q1 2025 Earnings Call April 22, 2025 05:00 PM ET Company Participants Ben Brodkowitz - Investor RelationsBonita Lee - President & CEOAnthony Kim - Senior EVP & Chief Banking OfficerRomolo Santarosa - Senior EVP & CFOAhmad Hasan - Equity Research AssociateKelly Motta - MD - Equity Research Conference Call Participants Adam Butler - Equity Research Analyst Operator Ladies and gentlemen, welcome to the Hamney Financial Corporation's First Quarter twenty twenty five Conference Call. As a ...