US-based financial advisory firm Merit Financial Advisors has completed its acquisition of Obsidian Planning Solutions for an undisclosed sum. This is Merit’s 50th acquisition, which adds $476m in assets and establishes its first two offices in Maryland, located in Rockville and Columbia. Obsidian focuses on business succession planning and offers financial planning services tailored for business owners. The partnership with Merit would provide Obsidian with enhanced operational scale and enhanced marke ...

Truist Wealth names Joe Levi North Texas Regional Managing Director, hires Erik Carrington as Houston and Central Texas Regional Managing Director Ryan Thompson appointed Premier Region Director , /PRNewswire/ -- Truist Financial Corporation (NYSE: TFC) today announced new leadership for its Truist Wealth and Premier teams in Texas. Truist's new leadership additions highlight its commitment to deepening its presence and delivering exceptional wealth management solutions to affluent and high-net-worth client ...

Summary of Key Points from the Conference Call on China Banks Equities Industry Overview - The conference call focused on the performance and outlook of the Chinese banking sector, particularly state-owned banks versus joint-stock banks in the first half of 2025 (1H25) and implications for the second half of 2025 (2H25) [2][9]. Core Insights 1. **Performance of State-Owned Banks**: - State-owned banks outperformed joint-stock banks in loan growth during 1H25, with faster growth partly driven by discounted bills. They are optimistic about retail loan growth in 2H25, supported by new interest subsidies [2][9]. - Concerns regarding retail asset quality are expected to impact joint-stock banks more significantly than state-owned banks [2]. 2. **Wealth Management Growth**: - Retail Assets Under Management (AUM) growth in banks like CMB exceeded retail deposit growth in 1H25, indicating a rising demand for wealth management solutions. There is also an increasing interest in equity and hybrid mutual funds [3][9]. - CMB is well-positioned to benefit from this trend due to its strong wealth management franchise [3]. 3. **Bank Card Fees Decline**: - Bank card fees experienced a year-on-year decline in 1H25, with state-owned banks generally performing better than joint-stock banks. However, payment and lending activities on internet platforms improved, with Tencent reporting a re-acceleration in payment revenue growth [4][9]. - The shift from traditional debit/credit card payments to third-party platforms poses a risk for banks [4]. 4. **Risk Appetite Among Financial Institutions**: - Post 1H25, banks and insurers exhibited a risk-on sentiment, with corporate bond portfolios growing by 13.7% year-to-date as of July 2025, outpacing government or financial bonds [5][9]. - Insurers showed increased risk appetite through rapid growth in equity portfolios, supported by regulatory backing [5]. Investment Recommendations - Preferred stocks among mainland China banks include: - CCB-H (939 HK, HKD7.88) and CMB-H/A (3968 HK / 600036 CH, HKD48.18/RMB42.54) due to their strong capital positions and prudent risk management [6][9]. - Among Hong Kong financials, BOCHK (2388 HK, HKD38.68) and HKEX (388 HK, HKD448.40) are favored due to strong Southbound inflows and vibrant capital market activity [6][9]. Financial Performance Highlights - The report includes a detailed half-yearly comparison of key financial metrics for major banks, showing trends in net interest income, net fees & commissions, and operating income [11]. - Notable figures include: - Net interest income for major banks increased significantly, with CCB reporting RMB 313,576 million in 1H25 [11]. - Operating profit and attributable profit figures also reflect positive growth trends across various banks [11]. Additional Considerations - The report emphasizes the importance of monitoring the evolving landscape of payment systems and the potential impact on traditional banking revenue streams [4]. - The overall sentiment in the banking sector appears cautiously optimistic, with a focus on wealth management and risk appetite as key drivers for future growth [5][9].

Summary of National Bank Holdings Corporation Conference Call Company and Industry - **Company**: National Bank Holdings Corporation (NBH) - **Industry**: Banking and Financial Services Key Points and Arguments Merger Announcement - NBH announced a definitive agreement to merge with Vista Bank Shares, which is seen as a strategic move to enhance their presence in high-growth markets in the U.S. [3][4] - The merger is valued at approximately $369 million, with NBH issuing about 7.4 million shares and paying around $85 million in cash to Vista shareholders [4][5]. Financial Projections - The pro forma combined entities will have approximately $12.4 billion in total assets, $9.3 billion in total loans, and a core deposit base of $10.4 billion [5]. - The merger is projected to be 17% accretive to future earnings, with a tangible book value dilution expected to be earned back in approximately three years [5][6]. - Cost savings of 30% are anticipated due to identified efficiencies from the merger [5][34]. Strategic Fit and Cultural Alignment - The merger is described as a "perfect fit" culturally, with both companies sharing a strategic focus on supporting small and medium-sized businesses [3][9]. - Vista Bank's emphasis on trust, local expertise, and long-term client support aligns well with NBH's core principles [8][9]. Operational Insights - NBH has a history of successful strategic acquisitions and has conducted thorough due diligence on Vista's loan book, finding strong credit quality [6][7]. - The merger will allow NBH to leverage Vista's private banking practices and expand its wealth management capabilities [9][30]. Regulatory Considerations - NBH has been operating as if it were a $10 billion-plus institution for regulatory purposes, which positions it well for the merger [20]. - The Durbin Amendment will impact revenues by about $10 million annually once the $10 billion mark is crossed, but the merger is expected to drive revenues that offset this impact [21][22]. Market Opportunities - The merger is expected to enhance NBH's ability to expand lending exposure and deepen client relationships, particularly in the Dallas-Fort Worth metroplex [31][46]. - There are opportunities to optimize the cost of funds and improve deposit capabilities through the merger [59][61]. Closing Remarks - The management expressed excitement about the merger and the potential for future growth and strategic initiatives [67]. Additional Important Content - The call included discussions on the historical fee income variability of Vista Bank and the potential for increased fee income through best practices from NBH [43][44]. - The management emphasized the importance of maintaining a diverse loan portfolio while expanding lending capacity in Texas [46]. This summary captures the essential details and insights from the conference call regarding the merger between National Bank Holdings Corporation and Vista Bank Shares, highlighting the strategic, financial, and operational implications of the transaction.

Core Viewpoint - Truist Financial Corporation is enhancing its leadership and expanding its wealth management services in Florida to drive growth and strengthen client relationships in key markets [2][4]. Leadership Changes - Scott Cathcart has been appointed as the regional president of Florida, responsible for leading the commercial banking teams across the state [2][4]. - Javier Suarez has been named the market president for Miami-Dade and the Florida Keys, reporting to Cathcart [3][4]. Strategic Growth Initiatives - The company aims to deepen and expand client relationships in wealth management, payments, and commercial banking [2][4]. - The appointments of Cathcart and Suarez are part of Truist's strategy to enhance its presence and client relationships in Florida [4]. Wealth Management Expansion - Truist Wealth has added six new advisors to its Florida team to cater to affluent, high-net-worth individuals, families, and business owners [5][6]. - The new advisors are expected to provide personalized, strategic guidance aligned with clients' long-term plans [6]. Company Overview - Truist Financial Corporation is a purpose-driven financial services company with total assets of $544 billion as of June 30, 2025 [10]. - The company offers a wide range of products and services, including commercial and corporate banking, investment banking, and wealth management [10][11].

Financial Data and Key Metrics Changes - The company reported net income of $53.3 million and core net income of $53.7 million for Q2 2025, with core earnings per share at $1.26 and a core return on average tangible common equity of 22.3% [6][20] - Net interest margin decreased to 2.64%, a decline of six basis points from the prior quarter, while the cost of deposits fell four basis points to 1.56% [6][11] - Total non-interest income was $57 million, a decline of $1.4 million linked quarter, primarily due to lower banking fees and foreign exchange revenue [14] Business Line Data and Key Metrics Changes - Net interest income before provision for credit losses increased to $89.4 million, driven by an increase in average interest-earning assets [11] - Non-interest expenses rose to $91.4 million from $90.3 million in the prior quarter, influenced by foreign exchange impacts and increased performance-based incentive accruals [15][16] Market Data and Key Metrics Changes - The bank's deposit balances increased to $12.8 billion from $12.6 billion, with a $260 million effect from the strengthening of the British Pound [17] - The average loan balances were slightly higher, but absent foreign exchange translation, loan volume decreased by $55 million due to the recovery of a legacy hospitality facility [12] Company Strategy and Development Direction - The company is focusing on sustainable profitability and shareholder value, with a 14% increase in the quarterly cash dividend rate to $0.50 per share and a new share repurchase authorization of 1.5 million shares [8][20] - The bank continues to evaluate potential acquisitions as part of its growth priorities, while maintaining a conservative credit posture [20][21] Management's Comments on Operating Environment and Future Outlook - Management noted encouraging signs of economic growth in their island jurisdictions, particularly in Bermuda and the Cayman Islands, with strong performance in tourism and real estate [21][22] - The company is actively monitoring inflation and foreign exchange fluctuations, with a focus on maintaining a healthy capital position while pursuing growth opportunities [16][54] Other Important Information - The bank completed the early redemption of $100 million subordinated debt, which had a one-time negative impact on net interest margin [7] - The tangible book value per share improved by 3.6% to $23.77 as unrealized losses on investments improved [20] Q&A Session Summary Question: Impact of treasury market on margin - Management discussed their bond investment strategy, focusing on reinvesting maturities into a mix of mortgage-backed securities and U.S. Treasury securities, while monitoring market movements [26][28] Question: Update on temporary deposits - Management indicated that some deposits are still expected to flow out, particularly from a fund in liquidation, but new deposits have also been coming in [31][32] Question: Capital return strategy - Management elaborated on their capital priorities, emphasizing dividends as a priority, followed by M&A and share buybacks, while maintaining a disciplined approach to pricing [36][38] Question: Level of capital - Management acknowledged the current capital level is higher than necessary, with plans to gradually reduce it while remaining open to M&A opportunities [48][50] Question: Ability to drive deposit costs lower - Management noted that they have been able to reduce deposit costs due to a shift in deposit duration and expect further reductions, albeit at a slower rate [57][59]

Core Viewpoint - Horizon Bancorp, Inc. will host a conference call on July 24, 2025, to discuss its second quarter 2025 financial results, with the news release published on July 23, 2025 [1]. Group 1: Conference Call Details - The conference call is scheduled for 7:30 a.m. CT (8:30 a.m. ET) on July 24, 2025, and participants can join by dialing specific numbers based on their location [2]. - A telephone replay of the conference call will be available approximately one hour after the call ends, accessible until August 1, 2025, with a designated access code [3]. Group 2: Company Overview - Horizon Bancorp, Inc. is a commercial bank holding company with $7.6 billion in assets, serving customers in the Midwest through digital tools and physical branches in Indiana and Michigan [4]. - The company offers a variety of retail banking services, including residential and secured consumer lending, personal banking, and wealth management solutions [4]. - Horizon Bancorp also provides business banking and treasury management services, with commercial lending making up over half of its total loans [4].