Group 1 - M&T Bank Corporation (MTB) is recognized as one of the 11 Cheap Quarterly Dividend Stocks to buy currently [1] - The company operates as a regional lender with a strong presence in community, commercial, and retail banking, offering services such as mortgage lending and consumer finance [2] - Recent priorities for MTB include regulatory compliance, disciplined capital and liquidity management, risk oversight, and growing fee-based income [3] Group 2 - M&T Bank declared an 11% increase in its quarterly dividend to $1.50 per share, marking the ninth consecutive year of dividend growth [4] - As of September 23, the stock has a dividend yield of 2.99% [4]

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Company Overview - M&T Bank Corporation, based in Buffalo, New York, operates as a bank holding company providing retail and commercial banking, trust, wealth management, and investment services, with a market cap of $31.1 billion [1] Market Position - M&T Bank is classified as a "large-cap stock" due to its market cap exceeding $10 billion, indicating its substantial size and influence in the regional banking industry [2] Stock Performance - The stock reached an all-time high of $225.70 on November 25, 2024, and is currently trading 12.9% below that peak, while gaining 10.4% over the past three months, outperforming the Dow Jones Industrial Average's 8.7% gains during the same period [3] - Year-to-date, the stock has increased by 4.6% and has soared 16.4% over the past 52 weeks, although it underperformed compared to the Dow's 7.9% gains in 2025, but outperformed the Dow's 10.9% returns over the past year [4] Financial Results - Following the release of mixed Q2 results on July 16, the stock dropped 2.4%. The company reported a 6.5% decline in gross interest income to $2.6 billion, while interest expenses decreased by 16.3% year-over-year to $896 million, leading to a net interest income (NII) of $1.6 billion, up 1.3% year-over-year [5] - Overall topline growth was 5.5% year-over-year to $2.3 billion, although this figure missed market expectations [5] Earnings Performance - M&T Bank's net operating earnings per share increased by 12.9% year-over-year to $4.28, surpassing consensus estimates by 5.9% [6] - Compared to peers, M&T Bank lagged behind Fifth Third Bancorp's 7.3% uptick in 2025 but significantly outperformed FITB's 7.8% gains over the past year [6]

Industry Overview - The Zacks Savings and Loan industry is benefiting from an improving lending environment, characterized by relatively low interest rates and expectations of further rate cuts [1][4] - The industry primarily consists of specialized U.S. banks focused on residential mortgage finance, offering various loan products and funding mortgages with FDIC-insured savings [3] Industry Trends - Lower interest rates are expected to enhance net interest income (NII) and net interest margin (NIM), as the Federal Reserve has reduced rates by 100 basis points in 2024 and is anticipated to cut rates again [4] - The digitization of operations is a key trend, with companies transitioning to technology-driven models to improve operational efficiency despite initial cost increases [5] - Asset quality is deteriorating, which may impact borrowers' repayment capacity due to rising inflation and less substantial rate cuts from the central bank [6] Industry Performance - The Zacks Savings and Loan industry ranks 19, placing it in the top 8% of over 245 Zacks industries, indicating solid near-term prospects [7][8] - The industry's earnings estimate has increased by 25.6% over the past year, reflecting growing analyst confidence in earnings growth potential [8] Stock Performance - The industry has underperformed compared to the Zacks Finance sector and the S&P 500, with a collective stock rally of 14.7% over the past year, while the S&P 500 rose by 21.3% [11] Valuation Metrics - The industry has a trailing 12-month price-to-tangible book ratio (P/TBV) of 2.00X, below the five-year median of 2.09X, indicating a discount compared to the broader market [15][18] - The Zacks Finance sector's current P/TBV is significantly higher at 5.69X, suggesting that the savings and loan industry is trading at a decent discount [18] Company Highlights - **ServisFirst Bancshares (SFBS)**: With total assets of $17.4 billion and loans of $13.2 billion, SFBS is expected to benefit from solid loan balances and improving market share. The Zacks Consensus Estimate for 2025 earnings is $5.22, reflecting a 24.9% year-over-year increase [21][23] - **WSFS Financial**: This company has $20.8 billion in assets and is projected to maintain stable loan growth. The Zacks Consensus Estimate for current-year earnings is $4.91, indicating an 11.9% rise [25][28] - **Provident Financial**: Following its merger with Lakeland Bancorp, Provident Financial has $24.6 billion in assets and is expected to see improved mortgage banking revenues. The Zacks Consensus Estimate for 2025 earnings is $2.15, a 77.7% year-over-year surge [32][34]

Core Viewpoint - Citizens Financial Services reported strong financial results for Q2 2025, with GAAP earnings per share of $1.76, exceeding analyst expectations of $1.60, and net income reaching $8.5 million, a 60.4% increase from the previous year, driven by improved net interest margins and expense control, although challenges remain with higher non-performing assets and deposit outflows [1][5][6]. Financial Performance - GAAP EPS for Q2 2025 was $1.76, a 60.0% increase from $1.10 in Q2 2024 [2] - Net income for Q2 2025 was $8.5 million, up from $5.3 million in Q2 2024, marking a 60.4% year-over-year increase [2] - Net interest income rose to $23.6 million, a 10.8% increase from $21.3 million in Q2 2024 [2] - Return on average equity (annualized) improved to 10.88%, up 3.48 percentage points from 7.40% in the previous year [2] - Non-performing assets increased to $27.4 million, a 52.8% rise from $17.9 million in Q2 2024 [2] Business Overview - Citizens Financial Services is a community-focused bank offering a variety of services including deposit, lending, trust, and brokerage services, with a strong presence in agriculture, manufacturing, and natural resources [3] - The bank's core operations include originating residential and commercial real estate loans and agricultural financing [3] Strategic Focus - Recent strategic efforts have included increasing lending to underserved markets, investing in higher-yielding securities, and enhancing operational efficiency [4] - Key success factors involve growth in net interest income and effective management of credit quality [4] Performance Drivers - The increase in net income for the first half of 2025 was attributed to stronger net interest income, benefiting from rising yields on assets and lower costs of interest-bearing liabilities [5] - The net interest margin widened from 3.15% to 3.47% for the three months ended June 30, 2025, due to a favorable funding mix [5] Credit Metrics - The provision for credit losses decreased to $750,000 from $2.0 million the previous year, reducing the drag on earnings [6] - Non-performing assets as a percentage of loans rose from 0.79% to 1.22% year-over-year, primarily due to acquired loans from the HVB acquisition [6] - A significant commercial real estate loan in central Pennsylvania contributed to increased past due balances, indicating potential credit concentration risk [6] Deposit Base and Funding - Deposits decreased by $89.4 million from December 31, 2024, to June 30, 2025, totaling $2.29 billion [7] - The loan-to-deposit ratio was 97.78% as of June 30, 2025, with borrowed funds rising to $313.2 million [7] Non-Interest Income and Expenses - Non-interest income increased by $329,000 compared to the same period in 2024, driven by gains in selling loans and higher returns from equity securities [8] - Non-interest expenses dropped by $99,000, attributed to a decline in professional and software fees following the divestiture of the Braavo division [9] - The quarterly dividend was raised by 2.1% year-over-year to $0.495 per share [9] Future Outlook - Management did not provide explicit forward financial guidance but emphasized a focus on improving credit quality in acquired commercial real estate loans and careful management of the investment portfolio [10]

Financial Performance - Net income available to common shareholders for Q2 2025 was $2.5 million, or $0.26 per diluted share, a decrease from $4.2 million, or $0.43 per diluted share in Q1 2025, but an increase from $1.1 million, or $0.11 per diluted share in Q2 2024 [2][6]. - Total income before non-interest expense was $22.4 million for Q2 2025, a decrease of 9.3% from $24.7 million in Q1 2025, but an increase of 9.8% from $20.4 million in Q2 2024 [8]. - Net interest income increased to $17.9 million in Q2 2025, up 2.3% from $17.5 million in Q1 2025 and up 13.3% from $15.8 million in Q2 2024 [12][6]. Loan and Deposit Growth - Total loans increased by $115 million, or 4.7%, from $2.43 billion in Q1 2025 to $2.54 billion in Q2 2025 [6][20]. - Total deposits were $2.53 billion as of June 30, 2025, an increase of 0.4% from $2.52 billion in Q1 2025 and an increase from $2.41 billion in Q2 2024 [21]. Net Interest Margin and Efficiency - Net interest margin increased by 6 basis points to 2.67% in Q2 2025 from 2.61% in Q1 2025, and increased by 32 basis points from 2.35% in Q2 2024 [10][11]. - The efficiency ratio improved to 78.83% in Q2 2025 from 79.16% in Q1 2025 and 82.25% in Q2 2024 [17]. Credit Quality - Non-performing assets totaled $18.8 million, or 0.62% of total assets, as of June 30, 2025, compared to $17.1 million, or 0.59% of total assets in Q1 2025, and a decrease from $49.3 million, or 1.68% of total assets in Q2 2024 [26]. - Non-performing loans increased to $14.4 million as of June 30, 2025, from $12.8 million in Q1 2025, but decreased from $37.9 million in Q2 2024 [27]. Capital Position - As of June 30, 2025, the Company exceeded minimum capital levels required by regulators, with a Tier 1 capital to risk-weighted assets ratio of 9.96% [29]. - Book value per common share increased by 0.8% from $26.44 in Q1 2025 to $26.64 in Q2 2025, and increased by 4.3% from $25.55 in Q2 2024 [30].

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Core Viewpoint - Northern Trust Corporation (NTRS) reported second-quarter 2025 adjusted earnings per share (EPS) of $2.13, surpassing the Zacks Consensus Estimate of $2.08, but down from $4.34 in the prior-year quarter. The results were supported by an increase in net interest income (NII) and growth in total assets under custody (AUC) and assets under management (AUM), although elevated expenses, reduced other fee income, and weak asset quality raised concerns [1][9]. Financial Performance - Net income on a GAAP basis was $421.3 million, reflecting a 53% decline from the prior-year quarter [2]. - Quarterly total revenues on a GAAP basis were $1.99 billion, down 26.4% year over year, but exceeded the Zacks Consensus Estimate by 1% [3]. - NII on a fully taxable equivalent basis was $615.2 million, marking a 16.1% increase year over year, with a net interest margin of 1.69%, up 12 basis points from the prior-year quarter [3]. - Trust, investment, and other servicing fees totaled $1.23 billion, up 5.6% year over year [3]. Income and Expenses - Other non-interest income decreased by 84.7% to $156.3 million compared to the year-ago quarter, primarily due to a decline in foreign exchange trading income and other operating income [4]. - Non-interest expenses fell 7.6% year over year to $1.42 billion, driven by reductions in compensation, outside services, occupancy, and other operating expenses [4]. Asset Management - As of June 30, 2025, Northern Trust's total AUC increased by 9.2% year over year to $14.2 trillion, while total AUM rose by 11.2% year over year to $1.7 trillion [5]. Credit Quality - The total allowance for credit losses was $224.1 million, up 6.9% year over year. Total non-accrual assets increased to $92.8 million from $38.5 million in the year-ago period, with provisions for credit losses reported at $16.5 million compared to $8 million in the prior-year quarter [6]. Capital and Profitability - As of June 30, 2025, the Common Equity Tier 1 capital ratio was 12.2%, down from 12.6% in the prior-year quarter. The total capital ratio was 14.8%, down from 15.5% in the year-ago quarter, and the Tier 1 leverage ratio was 7.6%, down from 8% [7]. - The return on average common equity was 14.2%, compared to 31.2% in the year-earlier quarter [7]. Capital Distribution - In the reported quarter, Northern Trust returned $485.6 million to shareholders through share repurchases and dividends [10].

Core Insights - Thomasville Bancshares, Inc. reported strong financial performance for the quarter ended June 30, 2025, driven by solid growth, improved margins, and excellent operating efficiency [3][5] - The company is well-positioned to maintain this strong performance throughout the year, supported by a resilient culture that fosters creativity among its bankers [3] Financial Performance - Net Income for the quarter was $11,828,466, a 16% increase from $10,206,006 in the same period last year [5] - Year-to-date (YTD) Net Income reached $22,331,844, up 14% from $19,563,994 in the previous year [5] - YTD Earnings per share were $3.48 (basic) and $3.36 (diluted) [5] - Return on Average Assets was 2.40% and Return on Average Tangible Equity was 24.88% [5] Asset and Loan Growth - Total Assets amounted to $1.927 billion, reflecting an increase of $162 million over the same period in 2024 [5] - Loans grew to $1.648 billion, an increase of $176 million or 12% year-over-year [5] - Deposits reached $1.626 billion, an increase of $104 million or 7% year-over-year [5] Company Overview - Thomasville Bancshares, Inc. was founded in 1995 and serves as the holding company for Thomasville National Bank, which has total assets exceeding $1.927 billion [4] - TNB was ranked 4th nationally in American Banker's Top 200 Community Banks based on three years average return on shareholders' equity [4] - TNB Financial Services manages client assets over $5 billion and offers a range of financial services [4]

Company Overview - First Western Financial, Inc. is a financial services holding company headquartered in Denver, Colorado, with operations in Colorado, Arizona, Wyoming, California, and Montana [5] - The company provides a fully integrated suite of wealth management services on a private trust bank platform, including deposit, loan, trust, wealth planning, and investment management products and services [5] - First Western's common stock is traded on the NASDAQ Global Select Market under the symbol "MYFW" [5] Upcoming Financial Results - First Western will release its financial results for the second quarter ended June 30, 2025, after the markets close on Thursday, July 24, 2025 [1] - A conference call will be held on Friday, July 25, 2025, at 10:00 a.m. Mountain Time/12:00 p.m. Eastern Time to discuss the financial results [2] - The conference call will be webcast live on the News & Events page of First Western's investor relations website, with an archived version available shortly after the live call [4]