Core Viewpoint - Hanover Bancorp, Inc. has appointed Mr. William J. Newham, III as Executive Vice President and Chief Commercial Real Estate Lending Officer, aiming to enhance its commercial real estate lending capabilities in response to industry consolidation [1][2]. Company Overview - Hanover Bancorp, Inc. is the bank holding company for Hanover Community Bank, focusing on personalized banking services and products tailored to client needs [5]. - The bank operates in the metro-New York area, with a commitment to understanding local financial needs and opportunities [5]. Appointment of Mr. Newham - Mr. Newham brings over 20 years of commercial real estate banking experience, particularly in the Long Island and New York metro area, which positions Hanover Bank to better address the CRE lending gap [2][4]. - His relationship-focused approach is seen as a key differentiator in a consolidating banking industry, enhancing Hanover's client-focused banking model [2][3]. Strategic Goals - The appointment reflects Hanover's commitment to disciplined growth and relationship-based banking, aiming to strengthen its commercial real estate lending platform [3]. - The bank's strategy includes managing concentration levels while pursuing attractive opportunities in Suffolk County and Long Island [3]. Mr. Newham's Background - Prior to joining Hanover Bank, Mr. Newham held senior leadership roles at Dime Community Bank and other Long Island financial institutions, where he expanded CRE platforms and gained insights into the Suffolk County market [4]. - His experience is expected to support Hanover's strategy of growing CRE loans and core deposits [3][4]. Client Commitment - Mr. Newham expressed enthusiasm for joining Hanover Bank, emphasizing the organization's values of relationships, local expertise, and thoughtful growth [5]. - The bank aims to provide consistent access to commercial lending and relationship-focused banking solutions for clients in Suffolk County and across Long Island [5].

Financial Data and Key Metrics Changes - The company reported a net income of $90.5 million for Q4 2025, a 16.5% increase from $77.7 million in Q3 2025 [4][39] - Diluted earnings per share increased by 18.3% to $1.33 in Q4, up from $1.13 in Q3 [4][39] - For the full year 2025, net income was $315.1 million, a 10.1% increase from $286 million in 2024 [4][39] - The net interest margin increased to 3.36% in Q4 from 3.31% in Q3 [10][45] Business Line Data and Key Metrics Changes - Total gross loans grew by $42 million, driven by increases of $80 million in commercial real estate (CRE) loans and $17 million in residential loans [5][39] - Non-accrual loans were 0.6% of total loans as of December 31, 2025, down $53.3 million to $112.4 million compared to the prior quarter [7][42] - The average loan-to-value of CRE loans remained steady at 49% [5][40] Market Data and Key Metrics Changes - Total deposits increased by $373 million or 7.6% on an annualized basis during Q4, primarily driven by $366 million increases in core deposits [8][44] - As of December 31, 2025, total uninsured deposits were $9.3 billion, representing 44.6% of total deposits [8][44] Company Strategy and Development Direction - The company expects loan growth in 2026 to be between 3.5% and 4.5% [5][39] - The company plans to announce a new stock buyback program after approvals are received, with $12 million remaining under the current buyback program [4][39] Management's Comments on Operating Environment and Future Outlook - Management anticipates further benefit to the net interest margin from declining deposit costs supported by the fixed-rate proportion of the loan portfolio [10][45] - The effective tax rate for Q4 2025 was 20.23%, with expectations for 2026 to be between 20.5% and 21.5% [12][46] Other Important Information - The company recorded $17.2 million in provisions for credit losses in Q4 compared to $28.7 million in Q3 [8][43] - The Tier 1 risk-based capital ratio increased to 13.27% from 13.15% in Q3 [12][47] Q&A Session Summary Question: Can you speak more in terms of what you're assuming for deposit betas embedded in that NIM outlook? - The company is assuming deposit betas in the 60% range, with market competition remaining rational in Q4 [16][18] Question: What are you seeing in terms of credit and any migration into criticized and overall trends? - There are no particular trends observed, but some loans have been downgraded to special mention due to not meeting certain debt covenants [20][50] Question: Have you seen an elevated level of competition for incremental loan growth? - There is strong competition for the right type of assets and loans, particularly in the C&I segment, which has seen the most competition [29][52]

Company Overview - First Interstate BancSystem Inc (NASDAQ: FIBK) operates in the western and north-central United States, providing a variety of financial services including checking and savings accounts, time deposits, and loans for commercial, construction, and residential purposes [1]. Analyst Background - The analyst has over five years of experience in the Australian Banking industry, focusing on bank stocks and equity markets, aiming for safe yet substantial returns of over 10% per annum [1]. Investment Philosophy - The investment strategy emphasizes a balanced approach to risk and reward, particularly within the often-overlooked banking sector, which is seen as having significant potential [1]. Community Engagement - The analyst aims to enhance investor awareness and understanding of the banking sector through analysis and writing on Seeking Alpha, fostering a community of knowledgeable investors [1].

Core Insights - New York Mortgage Trust, Inc. reported a net income of $30.285 million for the first quarter of 2025, translating to a basic earnings per share of $0.33, a significant recovery from a net loss of $68.34 million in the same period of the previous year [2][37][41] - The company achieved an economic return on book value of 3.13% and an economic return on adjusted book value of 2.71% for the quarter [2][4] - The company completed the issuance of $82.5 million in senior notes, raising approximately $79.3 million in net proceeds, which will support its investment activities [6] Financial Performance - Interest income for the quarter was reported at $129.734 million, up from $83.892 million year-over-year, while interest expense increased to $96.636 million from $66.029 million [37][41] - The net interest income for the quarter was $33.098 million, compared to $17.863 million in the same quarter of the previous year [37][41] - The yield on average interest-earning assets was 6.47%, with a net interest spread of 1.32% [2][23] Investment Activities - The company purchased approximately $1.5 billion in Agency RMBS with an average coupon of 5.35% and $396.8 million in residential loans with an average gross coupon of 9.33% [7] - Two securitizations of residential loans were completed, resulting in net proceeds of approximately $326.3 million [8] - The company repurchased 231,200 shares of its common stock for a total cost of approximately $1.5 million, averaging $6.50 per share [9] Capital Allocation - As of March 31, 2025, the total investment portfolio carrying value was $8.270581 billion, with significant allocations in residential loans and investment securities [11] - The company reported total assets of $10.004055 billion, an increase from $9.217282 billion at the end of the previous year [35] Management Commentary - The CEO highlighted that the increased investment activity in the first quarter was a response to more attractive market conditions, leading to a substantial boost in earnings [10] - The management believes that the strengthened balance sheet will provide flexibility to capitalize on market dislocations and further grow earnings throughout the year [11]