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Synovus Financial (SNV) 2019 Earnings Call Presentation
2025-07-04 14:45
Financial Performance & Growth - Synovus' diluted Earnings Per Share (EPS) increased from $189 in 2016 to $399 in Q1 2019, representing a 26% Compound Annual Growth Rate (CAGR)[39] - Adjusted Return on Average Tangible Common Equity (ROATCE) increased by 860 basis points from 852% in 2016 to 1752% in Q1 2019[39] - Synovus is targeting a sustained 10+% CAGR in EPS growth, with a Return on Assets (ROA) of approximately 145%, an adjusted tangible efficiency ratio of approximately 50%, and a Return on Tangible Common Equity (ROTCE) of approximately 170%[47, 48] - The company reported adjusted diluted EPS of $098 in Q1 2019, a 151% increase year-over-year[50] Merger & Acquisition - The merger with Florida Community Bank (FCB) significantly strengthens Synovus' Florida footprint, making it >1/3 of the pro forma franchise[34] - Synovus expects to surpass $30 million in FCB-related cost savings in 2019 and complete the full conversion in Q2 2019[63] - The FCB merger is projected to result in a ~17% Internal Rate of Return (IRR) and a ~17% ROATCE[124] Balance Sheet & Credit Quality - As of Q1 2019, Synovus had total assets of $47 billion and loans of $36 billion[22] - The company's loan growth in Q1 2019, including FCB, annualized to 46%, compared to a standalone Synovus loan growth of 16% in Q1 2018[128] - The Net Charge-Off (NCO) ratio was 019% in Q1 2019[55] 2019 Outlook - Synovus anticipates loan growth of 55% to 75% and revenue growth of 55% to 75% for 2019[60] - The company projects adjusted non-interest expense growth of 2% to 4% in 2019, excluding amortization of intangibles of approximately $14 million[60]
First Commonwealth Finalizes Conversion of Cincinnati's Former CenterBank
Globenewswire· 2025-06-09 20:30
INDIANA, Pa., June 09, 2025 (GLOBE NEWSWIRE) -- First Commonwealth Bank, a subsidiary of First Commonwealth Financial Corporation (NYSE: FCF), completed its systems conversion and rebranding of the former CenterBank in Cincinnati, Ohio, over the weekend of June 6-8.  Legal closing of the CenterBank acquisition was completed on April 30, 2025 and included $348.4 million in total assets, three branch locations, a loan production office, and a mortgage center. This transaction significantly increases First Com ...
QNB Corp. Declares Q2 2025 Dividend
Globenewswire· 2025-05-20 15:15
Group 1 - QNB Corp. declared a quarterly cash dividend of $0.38 per share, payable on June 27, 2025 [1] - The record date for shareholders to receive the dividend is June 13, 2025 [1] Group 2 - QNB Corp. operates through its subsidiary, QNB Bank, which has twelve banking offices [2] - QNB Corp.'s stock is traded in the over-the-counter market under the symbol "QNBC" [2]
Brookline Bancorp Announces First Quarter Results
Globenewswire· 2025-04-23 20:05
Net Income of $19.1 million, EPS of $0.21 Operating Earnings of $20.0 million, Operating EPS of $0.22 Quarterly Dividend of $0.135 BOSTON, April 23, 2025 (GLOBE NEWSWIRE) -- Brookline Bancorp, Inc. (NASDAQ: BRKL) (the “Company”) today announced net income of $19.1 million, or $0.21 per basic and diluted share, for the first quarter of 2025, compared to net income of $17.5 million, or $0.20 per basic and diluted share, for the fourth quarter of 2024, and $14.7 million, or $0.16 per basic and diluted share, f ...