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SYNERGIE strengthens its Swiss based operations with the acquisition of a majority stake in House of Flexwork Group.
Globenewswire· 2025-12-23 17:30
Core Viewpoint - SYNERGIE Group has signed an agreement to acquire a majority stake in House of Flexwork AG, aiming to strengthen its operations in Switzerland, with the transaction expected to close in the first quarter of 2026 [1][4]. Group 1: Acquisition Details - The acquisition agreement was signed on December 23, 2025, but control will not transfer immediately [1]. - House of Flexwork is projected to generate a turnover of approximately CHF 75 million (80 million Euros) in 2025 [2]. - The Swiss operations of SYNERGIE will be taken over by House of Flexwork, enhancing national coverage and client portfolios in key sectors such as agrifood, pharmaceuticals, and logistics [3]. Group 2: Strategic Objectives - This acquisition aligns with SYNERGIE's goal to accelerate development in Switzerland, a strategic market in Europe, offering a comprehensive range of HR services [4]. - The operation will enhance the Group's ability to support clients in their development and performance by leveraging its global human resources solutions across 17 countries [5]. Group 3: Management and Future Events - The new entity will be managed by Andreas Eichenberger, the current CEO of House of Flexwork and Chairman of the Swiss Staffing Association [3]. - The next significant event is the communication of the 2025 revenue, scheduled for January 28, 2026, after the stock market closes [6].
Mercantile Bank Corporation Announces Strong Third Quarter 2025 Results
Prnewswire· 2025-10-21 09:05
Core Insights - Mercantile Bank Corporation reported a net income of $23.8 million, or $1.46 per diluted share, for Q3 2025, an increase from $19.6 million, or $1.22 per diluted share, in Q3 2024 [1][3][30] - The bank's net income for the first nine months of 2025 totaled $65.9 million, compared to $60.0 million in the same period of 2024 [1][30] Financial Performance - Net revenue for Q3 2025 was $62.4 million, up $4.4 million, or 7.6%, from $58.0 million in Q3 2024 [3] - Net interest income increased to $52.0 million, a rise of $3.7 million, or 7.7%, from $48.3 million in the prior year [3][30] - Noninterest income reached $10.4 million, compared to $9.7 million in Q3 2024, driven by higher treasury management and payroll services fees [3][8] Interest Margin and Yield - The net interest margin was 3.50% in Q3 2025, slightly down from 3.52% in Q3 2024 [4] - The yield on average earning assets decreased to 5.75% from 6.08% year-over-year, primarily due to lower loan yields [4][5] - The yield on loans was 6.38% in Q3 2025, down from 6.69% in Q3 2024, influenced by lower interest rates on variable-rate commercial loans [4][5] Asset Quality - Nonperforming assets totaled $9.8 million, or 0.2% of total assets, as of September 30, 2025, compared to $5.7 million, or less than 0.1%, at year-end 2024 [18] - Loan charge-offs were $0.3 million, with recoveries totaling $1.1 million, resulting in net recoveries of $0.8 million [18][19] Capital Position - Shareholders' equity increased to $658 million as of September 30, 2025, up $73.1 million from December 31, 2024 [20] - The bank maintained a total risk-based capital ratio of 14.3%, indicating a "well-capitalized" status [20][21] Deposits and Loans - Total deposits reached $4.81 billion, an increase from $4.70 billion at year-end 2024, with local deposits up $84.2 million [16] - The loan-to-deposit ratio decreased from 102% as of September 30, 2024, to 96% as of September 30, 2025, reflecting strong local deposit growth [5][16] Strategic Initiatives - The bank announced a planned partnership with Eastern Michigan Financial Corporation, aimed at enhancing liquidity and achieving strategic goals [5][23]
SEQLL(SQL) - Prospectus(update)
2024-02-12 20:01
As filed with the Securities and Exchange Commission on February 12, 2024. Registration No. 333-272908 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549F AMENDMENT NO. 15 TO FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ___________________________ SEQLL INC. (Exact name of registrant as specified in its charter) ___________________________ | Delaware | 3826 | 46-5319744 | | --- | --- | --- | | (State or other jurisdiction of | (Primary Standard Industrial | (I.R.S. E ...
SEQLL(SQL) - Prospectus(update)
2023-10-18 19:29
As filed with the Securities and Exchange Commission on October 18, 2023. Registration No. 333-272908 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549F AMENDMENT NO. 5 TO FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ___________________________ SEQLL INC. (Exact name of registrant as specified in its charter) ___________________________ | Delaware | 3826 | 46-5319744 | | --- | --- | --- | | (State or other jurisdiction of | (Primary Standard Industrial | (I.R.S. Emp ...