The awards highlight the bank's commitment to middle market and small business clients, as well as personalized relationship banking HOUSTON and TUPELO, Miss., July 28, 2025 /PRNewswire/ -- Cadence Bank (NYSE: CADE) is proud to announce it has earned four prestigious Coalition Greenwich Best Bank Awards, recognizing the bank's outstanding performance in and commitment to delivering exceptional service in middle market and small business banking.Presented annually by Crisil Coalition Greenwich, the awards ho ...

Financial Data and Key Metrics Changes - The company reported earnings per share of $0.28 on a fully diluted GAAP basis and $0.31 on a core basis for Q2 2025 [5] - Net interest income grew by $1,000,000, marking a third consecutive quarter of growth, while the net interest margin expanded by one basis point [6] - Total loans increased by $60,000,000, representing a 2% annualized growth rate, driven by strong originations of $716,000,000 [7] Business Line Data and Key Metrics Changes - Commercial and industrial loans increased by 8% for the quarter, reflecting the company's focus on this segment [7] - Non-interest income increased by 5% to $11,800,000 during the quarter, although it was down 1% compared to the prior quarter when excluding non-core items [15] - Operating expenses for the quarter were $71,000,000, in line with expectations, and included costs from recent commercial banking hires [7][18] Market Data and Key Metrics Changes - Deposit balances, excluding brokered CDs, decreased approximately 1% compared to the linked quarter but increased by $117,000,000 compared to the same period in 2024 [13] - The commercial pipeline reached a record high of $791,000,000, indicating strong lending opportunities [10] Company Strategy and Development Direction - The company is focused on organic growth and has made significant investments in hiring commercial bankers and launching the Premier Bank [6][12] - The company expects to see an increase in net interest income in the third quarter and continued improvement in margins in the second half of the year [10][16] - The company plans to maintain a stable operating expense run rate while exploring opportunities for additional expense efficiencies [18][40] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the credit quality, noting that total loans classified as special mention and substandard decreased by 3% [8] - The company anticipates that the current quarter represents a trough in EPS, with expectations for growth moving forward as organic growth momentum continues [6] - Management highlighted that clients are reporting good business conditions and building backlogs, which supports the outlook for loan growth [60][62] Other Important Information - The company authorized an additional 3,000,000 shares for repurchase, allowing flexibility in capital deployment [9] - The effective tax rate is expected to remain in the range of 23% to 25% [19] Q&A Session Summary Question: On the deposit side, can funding costs be reduced going forward? - Management indicated that while there is some opportunity to reduce funding costs, significant changes are not expected in the near term due to the current rates on CDs [22] Question: What is the outlook for stable non-interest income? - Management clarified that GAAP is the best base to use for guidance on stable non-interest income [32] Question: How much did new hires impact earnings this quarter? - The additional expenses from new hires impacted EPS by about $0.06, but this is expected to reverse moving forward [38] Question: What is the company's approach to M&A? - The primary focus remains on organic growth, with M&A being a lower priority given current share valuations [41] Question: How sustainable is the loan growth guidance? - Management expressed confidence in the sustainability of loan growth based on the current pipeline and client feedback [58] Question: What is the impact of rate cuts on NIM? - Management indicated that a 25 basis point cut would have a minimal impact, rounding to less than a penny per share on an annualized basis [91] Question: What is the outlook for commercial real estate? - Management expects to maintain steady CRE balances, with potential for slight growth depending on opportunities [110]

Financial Performance - Byline's net income for 2Q25 was $30.1 million, with a diluted EPS of $0.66; adjusted EPS was $0.75[10] - Pre-Tax Pre-Provision income was $50.9 million, with a Pre-Tax Pre-Provision ROAA of 2.12%[12] - Revenue reached $110.5 million, up 7.2% quarter-over-quarter and 11.2% year-over-year[12] - The reported efficiency ratio was 52.61%, while the adjusted efficiency ratio was 48.20%[10] - Return on Average Assets (ROAA) was 1.25%, and the adjusted ROAA was 1.41%[10] - Return on Tangible Common Equity (ROTCE) was 12.83%, with an adjusted ROTCE of 14.37%[10] Balance Sheet and Portfolio Trends - Total assets were $9.7 billion[7] - Total loans and leases reached $7.4 billion, up $306.7 million or 17.5% from 1Q25[7, 18] - Total deposits amounted to $7.8 billion, an increase of $257.2 million or 13.7% from 1Q25[7, 23] - Non-interest-bearing demand deposits averaged $1.803 billion[19] - The average cost of deposits decreased by 3 bps to 2.27%[12, 23]

1st Source Corporation Reports Second Quarter Results, Cash Dividend DeclaredJuly 24, 2025 4:00 PM EDT | Source: 1st Source CorporationQUARTERLY HIGHLIGHTSNet income was $37.32 million for the quarter, down slightly from the previous quarter and up $0.53 million or 1.43% from the second quarter of 2024. Diluted net income per common share was $1.51, down $0.01 or 0.66% from the previous quarter and up $0.02 or 1.34% from the prior year's second quarter of $1.49. These results include $1.00 mil ...

Financial Data and Key Metrics Changes - The company reported net income of $26 million or $0.84 per diluted share, with core net income at $27 million or $0.88 per diluted share, reflecting solid performance [18] - Net interest income grew by 3.3%, reaching approximately $72.9 million, while the net interest margin held steady at 3.55% [18][19] - Tangible book value per share increased by $0.82 or 3.5% to $24.33, representing an 18% growth over the past four quarters [20] - Core return on average equity declined to 14.61% from 15.23% in the prior quarter, while core return on average assets decreased to 1.28% [20][21] Business Line Data and Key Metrics Changes - On-balance sheet deposits increased by $321 million or 4.3% to $7.7 billion, excluding $112.3 million of temporary pension funding deposits [22][24] - Loan growth was balanced at over $60 million across growth mode portfolios, with total loans receivable at $4.7 billion, reflecting a 0.8% increase compared to the previous quarter [25] - The multifamily loan portfolio increased by $34.2 million, while consumer loans and residential loans decreased by $11 million and $11.8 million, respectively [25] Market Data and Key Metrics Changes - Political deposits increased by $137 million or 13% to $1.2 billion, driven by fundraising activities ahead of midterm elections [7] - The not-for-profit segment also saw deposit growth of over $100 million, indicating a strong market presence [7] Company Strategy and Development Direction - The company is focused on organic growth in California, with plans to expand its presence in the state, particularly in the East Bay area [35][36] - A digital transformation initiative is underway, with a new platform expected to go live in the third quarter, aimed at improving productivity and customer insights [13] - The company aims to maintain a core efficiency ratio at approximately 52% while preparing for future growth beyond $10 billion in assets [14] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for the second half of 2025, citing a strong level of new customer acquisitions and a healthy pipeline of potential relationships [15] - The company maintains its full-year 2025 guidance for core pre-tax pre-provision earnings and net interest income, indicating confidence in achieving targets despite market challenges [31] Other Important Information - The company executed the largest share repurchase in its history, repurchasing approximately 327,000 shares worth $9.7 million [21] - The board authorized a dividend of $0.14 per common share to be paid in August, reflecting a commitment to returning capital to shareholders [21] Q&A Session Summary Question: Will the expansion in California be organic or involve M&A? - Management indicated that the expansion will primarily be organic, with opportunities in the LA area and East Bay [35][36] Question: What industry is the syndicated C&I credit related to, and what is the resolution timeline? - The credit is part of the commercial solar portfolio, and management is actively working on sourcing credit bids for resolution, but a timeline is uncertain [38][40] Question: Will provisioning run at a higher level due to pressures in multifamily or green energy? - Management stated that provisioning will be assessed on a case-by-case basis, and they feel comfortable with current reserves despite potential future pressures [41][42] Question: What is the outlook for net interest margin (NIM) and loan yields? - Management expects loan yields to improve in the upcoming quarters, with a potential for margin expansion in Q4 as political deposits ramp up [46][48] Question: What is the expected run rate for next quarter's expenses? - Expenses are expected to increase by approximately $3.5 million due to new hires and digital transformation costs, but management remains optimistic about revenue capabilities [50][52] Question: What are the long-term thoughts on dividend payout ratio? - The company targets a payout ratio of 20% to 25% and aims to increase dividends more frequently, reflecting a growth-oriented approach [53][54]

Core Insights - Mercantile Bank Corporation and Eastern Michigan Financial Corporation have entered into a definitive merger agreement valued at approximately $95.8 million, enhancing Mercantile's position as Michigan's largest bank by total assets [1][2][10] - The merger will result in a combined company with total assets of $6.7 billion, total loans of $4.9 billion, and total deposits of $5.2 billion [1][10] Partnership Benefits - The merger strategically expands Mercantile Bank's operating footprint, adding 12 Eastern branches to its existing 45-location network, particularly in Eastern and Southeast Michigan [2][3] - Eastern Michigan Bank has a strong deposit base with a cost of deposits of 42 basis points and a loan-to-deposit ratio of 46%, providing substantial liquidity to the combined entity [2][3] Financial Details - The transaction involves Mercantile issuing 0.7116 shares of its common stock plus $32.32 in cash for each outstanding share of EFIN, resulting in an aggregate consideration of $95.8 million [9][10] - The merger is expected to be approximately 11% accretive to Mercantile's dilutive earnings per share once cost savings are fully realized, with tangible book value dilution at closing expected to be around 5.8% [10][11] Operational Integration - Mercantile Bank plans a full core banking system transformation in partnership with Jack Henry, leveraging Eastern's 40 years of operational experience on the platform to ensure a smooth transition [5][6] - The system transformation is scheduled for completion within the first quarter of 2027, with Eastern operating under its existing charter until then [6][11] Cultural Alignment - Both institutions share a commitment to their Michigan roots and community service, which will facilitate a seamless integration process [7][8] - Eastern's executive leadership will remain in place, with Oldford serving as Regional Market President, ensuring continuity in operations [8][11]

Core Insights - BCB Bank has promoted Daniel A. Araujo to Senior Vice President and Chief Lending Officer, reflecting the bank's commitment to a customer-first approach and organizational excellence [1][5] - Araujo has over 20 years of experience in the lending industry, having previously held significant roles at Citizens Bank and Investors Bank, where he led critical lending initiatives [2][3] - In his new role, Araujo will oversee credit policy, risk governance, and portfolio strategy, while enhancing customer experience through strategic vision and collaboration [4] Company Overview - BCB Community Bank, established in 2000 and headquartered in Bayonne, N.J., is a wholly-owned subsidiary of BCB Bancorp, Inc. (NASDAQ: BCBP) [6] - The bank operates twenty-three branches in New Jersey and four branches in New York, offering a wide range of loans, deposit products, and banking services to businesses and individuals [6]

Core Viewpoint - Union Bankshares, Inc. reported positive financial results for the second quarter and first half of 2025, showing growth in net income, total assets, and loans, while also declaring a quarterly cash dividend [1][6][10]. Financial Performance - Consolidated net income for Q2 2025 was $2.4 million, or $0.53 per share, up from $2.0 million, or $0.45 per share in Q2 2024, marking an increase of 18.6% [1][6] - For the first half of 2025, net income was $4.9 million, or $1.08 per share, compared to $4.4 million, or $0.98 per share in the same period of 2024 [1] Balance Sheet Highlights - Total assets increased to $1.48 billion as of June 30, 2025, up $81.9 million, or 5.9% from $1.40 billion a year earlier [2] - Total loans grew by $99.8 million, or 9.8%, reaching $1.11 billion, including $9.0 million in loans held for sale [2] - Total deposits rose to $1.10 billion, compared to $1.05 billion a year prior [4] Income Statement Insights - Interest income for Q2 2025 was $18.7 million, an increase of $2.2 million, or 13.1%, from $16.5 million in Q2 2024 [6] - Interest expense also increased by $1.2 million, or 17.1%, to $8.3 million for Q2 2025 [6] - Net interest income rose by $962 thousand, or 10.1%, reflecting the changes in interest income and expense [6] Credit Quality - Credit loss expense for Q2 2025 was $221 thousand, down from $388 thousand in Q2 2024, indicating improved credit quality [7] Dividend Declaration - The Board of Directors declared a cash dividend of $0.36 per share, payable on August 7, 2025, to shareholders of record as of July 26, 2025 [10] Company Overview - Union Bankshares, Inc. is a bank holding company providing a range of banking services in northern Vermont and New Hampshire, operating 18 banking offices and three loan centers [11]

Financial Performance - Operating net income available to common shareholders reached a record of $1006 million, or $055 per diluted share[9] - GAAP reported net income available to common shareholders was $966 million in 2Q25, compared to $904 million in 1Q25[7] - Return on Average Assets (annualized) increased from 118% in 1Q25 to 125% in 2Q25[7] - The efficiency ratio increased slightly from 567% to 571%[7] Income Statement - Net interest income increased by $3734 thousand from $251187 thousand in 1Q25 to $254921 thousand in 2Q25[10] - Non-interest income before investment securities gains (losses) increased by $1914 thousand from $67234 thousand to $69148 thousand[10] - Non-interest expense increased by $3351 thousand from $189460 thousand to $192811 thousand[10] Net Interest Margin and Cost of Funds - Net Interest Margin (NIM) was 347% in 2Q25, a 4 basis points increase compared to 1Q25[19] - Total cost of deposits decreased by 5 basis points to 198% in 2Q25[19] Loan and Deposit Portfolio - Office loans represent 3% of the total loan portfolio[49] - Multi-Family loans represent 8% of the total loan portfolio[55] - The average deposit account balance is $30099, with approximately 881632 deposit accounts[42] - Net estimated uninsured deposits represent 24% of total deposits[42, 61]

Core Insights - JPMorgan and Wells Fargo are significant players in the U.S. banking sector, influenced by interest rate trends and economic cycles [1][2] Group 1: JPMorgan's Position - JPMorgan is the largest U.S. bank with a diversified presence across the financial sector [2] - The bank plans to open over 500 branches by 2027, with 150 already established in 2024, aiming to enhance its physical footprint while integrating digital tools [3] - JPMorgan's net interest income (NII) is projected to be $94.5 billion in 2025, reflecting a nearly 2% year-over-year increase [4] - The bank leads in global investment banking fees, although near-term prospects may be uncertain due to economic instability [5] - JPMorgan's common equity tier 1 (CET1) ratio was 14.2%, significantly above the minimum requirement, allowing for a 7% increase in quarterly dividends to $1.50 per share and a $50 billion share repurchase program [6] - The bank anticipates card net charge-off (NCO) rates to be 3.6% this year, potentially rising to 3.6-3.9% in 2026 [7] Group 2: Wells Fargo's Developments - Wells Fargo has lifted the $1.95 trillion asset cap, enhancing its financial performance and strategic positioning [8] - The bank plans to increase deposits, grow its loan portfolio, and expand securities holdings, which will positively impact NII [9] - Wells Fargo is streamlining operations while investing in its branch network and digital upgrades, aiming for $2.4 billion in gross expense reductions in 2025 [10][12] - The bank also cleared the 2025 stress test and plans to raise its quarterly dividend by 13% to 45 cents per share, with $3.8 billion available for share repurchases [13] Group 3: Financial Projections and Comparisons - The Zacks Consensus Estimate for JPMorgan suggests a 1.3% revenue decline in 2025, with a projected 5.6% fall in earnings for the current year, but a 5.9% increase next year [14] - Conversely, Wells Fargo's revenue is expected to grow by 1.7% in 2025 and 5.4% in 2026, with earnings projected to rise by 9.3% and 14.3% for the same years [17] - Year-to-date, shares of JPMorgan and Wells Fargo have increased by 20.3% and 17.3%, respectively, outperforming the S&P 500 Index [20] - JPMorgan's forward price-to-earnings (P/E) ratio is 15.06X, while Wells Fargo's is 13.21X, indicating that Wells Fargo is trading at a discount compared to the industry and JPMorgan [22][23] - JPMorgan's return on equity (ROE) stands at 16.88%, surpassing Wells Fargo's 12.15% and the industry's 11.93% [23] Group 4: Investment Outlook - While Wells Fargo's regulatory flexibility positions it for growth, JPMorgan is currently viewed as the stronger investment option due to its scale, diversified business model, and robust capital return plans [24] - Despite near-term earnings pressure, JPMorgan's superior ROE and market position justify a premium valuation, making it a compelling choice for investors seeking income and growth potential [25]