Financial Data and Key Metrics Changes - The company reported net income of $7.6 million, or $0.25 per diluted share, compared to a loss of $67.5 million, or $2.22 per share, in the previous quarter [6] - Non-performing loans decreased to $106.8 million, down $12 million from the prior quarter, representing 1.47% of total loans [7] - Total non-performing assets declined by $24 million to $108.9 million, representing 1.04% of total assets, down from 1.23% in the prior quarter [7] - The allowance for credit losses ended the quarter at $159.6 million, or 2.19% of total loans [8] - Tangible common equity to tangible assets is 10.87%, with a Tier 1 leverage ratio of 10.17% and CET1 at 13.83% [10] Business Line Data and Key Metrics Changes - Net interest income grew by $144,000 to $68.3 million, with a net interest margin (NIM) decline of five basis points to 2.38% [9] - Non-interest income increased to $12.2 million compared to $2.5 million in the previous quarter, primarily due to non-reoccurring losses and gains from SBIC investments [10] - Non-interest expense rose by $17.9 million to $59.8 million, driven by costs associated with the disposition of held-for-sale loans and valuation adjustments [10] Market Data and Key Metrics Changes - The company experienced a reduction in brokered deposits by $602 million while increasing core deposits by $692 million during 2025 [11] - The concentration ratio for commercial real estate (CRE) loans to total risk-based capital and reserves declined to 322% [9] - The acquisition, development, and construction (ADC) concentration ratio decreased to 88% as of year-end [9] Company Strategy and Development Direction - The company is transitioning from remediation to execution, focusing on consistent performance and reducing risk concentration [4] - The strategic plan includes improving asset quality and enhancing the balance sheet to support sustainable earnings [4][14] - The company aims to expand pre-provision net revenue in 2026, despite a smaller average balance sheet, prioritizing shareholder returns and profitability [11][12] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's direction, highlighting improved asset quality and a stronger foundation [14] - The expectation is for average deposits, loans, and earning assets to decline year-over-year due to deliberate balance sheet repositioning [11] - Management anticipates a meaningful expansion in net interest margin, forecasting NIM to range between 2.6% and 2.8% for the year [12] Other Important Information - The company has $4.7 billion in available liquidity, maintaining two-times coverage of uninsured deposits [11] - The company is actively reducing brokered deposits and expects to continue this trend into 2026 [11] Q&A Session Summary Question: Can you provide more details on the asset dispositions and the expected timing? - The company has $90.7 million of loans held for sale, with two-thirds scheduled for resolution in the first quarter, though it may extend into the second quarter [19] Question: What is the outlook for further moves into held-for-sale loans? - There may be situations where selling loans is the best strategy, but the pace will not match that of 2025 [20] Question: What trends are being observed in the multifamily sector? - There is stabilization and improvement in multifamily loans, with strong valuations compared to the office market [22] Question: How does the company view the provisioning for loan losses moving forward? - The company expects provision expenses to be higher than in 2024 but not at the levels seen in 2025, with a focus on the criticized classified portfolio [36] Question: What is the current status of brokered deposits and cash levels? - The company holds $1.56 billion in brokered deposits, with plans to reduce this significantly throughout 2026 [56]

Financial Performance Highlights - Core EPS increased to $0.99 in 4Q25[13] - Core Net Income reached $30 million in 4Q25[12], an increase of 8.7% from the previous quarter[11] - Net Interest Income was $77.9 million in 4Q25[16], with a Net Interest Margin of 3.66%[18] Deposit Portfolio - Total GAAP Deposits amounted to $7.9 billion as of 4Q25[33] - Core Deposits totaled $8.9 billion, including $1.7 billion in political deposits[35] - Uninsured deposits represent 58% of total deposits[88], totaling $4.61 billion[88] Loan Portfolio - Total Loans outstanding were $4.96 billion[53] - Growth portfolios, including Commercial & Industrial, Multifamily, and Commercial Real Estate, grew by $217.6 million in the current quarter, a 7% increase[55] - Mission-aligned loans constitute 82% of the Multifamily CRE and Land portfolio[59] Asset Quality - Non-Performing Assets (NPA) to Total Assets ratio stood at 0.32%[62] - Criticized and Classified Loans totaled $109 million[67] - Allowance for Credit Losses on Loans represented 1.16% of total loans[76] Guidance - The company anticipates Net Interest Income between $327 million and $331 million for FY26, implying a growth of 10-11%[83] - Core Pre-Tax Pre-Provision Earnings are projected to be between $180 million and $183 million for FY26, reflecting a growth of 9-10%[83]

Financial Performance - Q2FY26 sales were $147 million, successfully offsetting the non-recurring demand surge in Q2FY25[13, 19] - Adjusted EBITDA margin for Q2FY26 was 91%, a slight increase of 10 bps compared to the previous year[13, 18, 23] - The company generated $233 million in free cash flow in Q2FY26, resulting in a net debt to trailing twelve-month adjusted EBITDA ratio of 04x[14] - Adjusted net income increased by 6% year-over-year[18] Segment Performance - The Lighting Segment experienced 15% organic revenue growth year-over-year, driven by market share gains and increased large project activity[14, 26] - Lighting Segment adjusted gross margin rate improved by 190 bps[14, 26] - Display Solutions Segment sales were $803 million, impacted by elevated prior-year levels, but order activity improved, supporting increased demand in the second half of fiscal 2026[15, 36, 38] Outlook and Strategy - The company anticipates year-over-year growth in Q3FY26, with Lighting segment orders up 10% above prior-year levels[15] - Grocery vertical orders in the Display Solutions segment increased 20% above the prior year, supporting improved segment backlog[15] - The company maintains over $103 million in cash and available liquidity under its credit facility[54, 55]

INDEPENDENT | BANK Earnings Call: Fourth Quarter 2025 Agenda · Formal Remarks January 22, 2026 (NASDAQ: IBCP) Be Independent Cautionary note regarding forward-looking statements This presentation contains forward-looking statements, which are any statements or information that are not historical facts. These forward-looking statements include statements about our anticipated future revenue and expenses and our future plans and prospects. Forward-looking statements involve inherent risks and uncertainties, a ...

Financial Data and Key Metrics Changes - The company ended 2025 with $6.4 billion in assets, up from $5.3 billion at the beginning of the year, marking nearly 50% growth [4] - Net income for the quarter was reported at $22.1 million or $115 per diluted share, with adjusted earnings of $23.3 million or $121 per diluted share, compared to $22.4 million or $117 per diluted share in the previous quarter [7] - Net interest income for the quarter was $63.5 million, an increase of $1 million from the last quarter, with a margin of 4.47%, up two basis points from 4.45% [7][8] Business Line Data and Key Metrics Changes - Non-interest income for the quarter was $9.5 million, up $400,000 from the previous quarter [7] - Non-interest expenses for the quarter were $46.6 million, with adjusted non-interest expenses at $44.1 million, an increase of 2.7% from the previous quarter [8] - Loan production in the quarter was $220 million, up $100 million compared to the same period last year, although it was down late in the quarter [18] Market Data and Key Metrics Changes - Total deposits increased by approximately $43.5 million during the quarter, with core deposit expansion of $123.5 million, offset by a decline in brokered deposits of $80 million [19] - Non-interest bearing accounts closed the quarter at 22.4% of total deposits [19] - The company anticipates loans as a percentage of average earning assets to be approximately 80% in Q1 2026 [14] Company Strategy and Development Direction - The company aims to earn more than $5 per share in 2026, focusing on creating opportunities for growth and rolling out new products [4][5] - The merger with Frontier is expected to add non-interest expenses of $23 million-$24 million and non-interest income of $2 million-$3 million [15] - The company is strategically focused on using technology to improve service and efficiency, with a strong emphasis on data utilization [5] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding the credit environment and outlook for 2026, noting stable credit quality trends across the portfolio [11][12] - The company is well-positioned to grow throughout its markets, with expectations for realized growth in the balance sheet and non-interest revenue lines [20] - Management highlighted the importance of maintaining pricing discipline in a competitive environment, opting not to lower rates excessively [25][27] Other Important Information - The company repurchased 172,338 shares at a weighted average cost of $41.69 during the quarter, with 872,662 shares remaining under the repurchase authorization [9] - The total capital ratio closed the quarter at 16.3%, with a common equity tier 1 (CET1) ratio of 13.1% [10] Q&A Session Summary Question: Does the margin guide include expected accretion from Frontier? - Yes, the margin guide does include the expected accretion from Frontier [24][25] Question: Are there any changes in competition regarding pricing or underwriting standards? - The company is seeing some pressure on pricing but has decided to maintain higher pricing standards [25][26] Question: What types of loans are available for pullback from Frontier? - The loans are a combination of various types, estimated at around $50 million [29][30] Question: What is the outlook for cost savings from the Frontier merger? - The company maintains a target of around 23% in cost savings, with potential for improvement as integration progresses [31][32] Question: What is the company's approach to capital management post-merger? - The company is open to both buybacks and M&A opportunities, depending on market conditions and capital needs [34][35] Question: How is deposit generation performing in new markets? - Deposit account gathering is positive, with the company focusing on disciplined pricing strategies [44][46] Question: Which markets are expected to outperform in loan growth? - Missouri and Oklahoma are highlighted as strong markets for potential growth [48][49]

Acquisition Strategy - CVBF plans to acquire Heritage Bank of Commerce, with an estimated closing in Q2 2026[22] - The acquisition is expected to result in a pro forma Return on Average Tangible Common Equity (ROATCE) of 168% in 2027[132] - The acquisition is projected to increase Earnings Per Share (EPS) by approximately 132% in 2027, excluding rate marks[132] - The transaction assumes cost savings of approximately 35% of Heritage Commerce's estimated 2027 operating noninterest expense, which is about $43 million[134] Financial Performance (Q4 2025) - Net income for Q4 2025 was $55044 thousand, with earnings per share (EPS) of $040[33] - The Net Interest Margin (NIM) for Q4 2025 was 349%[33] - The efficiency ratio for Q4 2025 was 463%[33] - The Return on Average Tangible Common Equity (ROATCE) for Q4 2025 was 1441%[33] Balance Sheet (December 31, 2025) - Total assets were $156 billion, with gross loans amounting to $87 billion[14,31] - Total deposits, including repurchase agreements (repos), were $126 billion[14,31] - Total equity was $23 billion[14] - Securities totaled $50 billion, representing 32% of assets[31] - Loans totaled $87 billion, representing 55% of assets[31] Capital Ratios (December 31, 2025) - The Common Equity Tier 1 (CET1) ratio was 159%[32,33] - The Tier 1 Leverage ratio was 116%[32] - The Tangible Common Equity (TCE) ratio was 103%[32,33] Loan Portfolio (December 31, 2025) - Commercial Real Estate (CRE) loans constituted 76% of the loan portfolio[31] - Commercial and Industrial (C&I) loans represented 11% of the loan portfolio[31] - Dairy & Livestock (D&L) and Agribusiness loans accounted for 5% of the loan portfolio[31]

Huntington Bancshares (NasdaqGS:HBAN) Q4 2025 Earnings call January 22, 2026 09:00 AM ET Company ParticipantsStephen Steinour - Chairman, President and CEOEric Wasserstrom - Head of Investor RelationsBrant Standridge - President of Consumer and Regional BankingZachary Wasserman - CFOConference Call ParticipantsChristopher McGratty - AnalystBrian Foran - AnalystMatthew O'Connor - AnalystDerek Gonda - AnalystJon Armstrong - AnalystManan Gosalia - AnalystKen Usdin - AnalystEbrahim Poonawala - AnalystOperatorGr ...

FB Financial (NYSE:FBK) Q4 2025 Earnings call January 22, 2026 09:00 AM ET Company ParticipantsWill Jones - Associate VP of Equity ResearchMichael Mettee - COO and CFOChris Holmes - CEOAnya Pelshaw - Equity Research AssociateMike Orcutt - Head of Investor RelationsConference Call ParticipantsNone - AnalystRussell Gunther - Managing Director and Equity Research AnalystOperatorGood morning, everyone, and welcome to the FB Financial Fourth Quarter 2025 earnings call. Please note today's event is being recorded ...

Northern Trust (NasdaqGS:NTRS) Q4 2025 Earnings call January 22, 2026 09:00 AM ET Company ParticipantsEbrahim Poonawala - Managing DirectorMichael O'Grady - Chairman and CEOGlenn Schorr - Senior Managing DirectorGerard Cassidy - Managing DirectorSteven Chubak - Managing DirectorDavid Smith - VP and Banks Equity ResearchDavid Fox - CFOBetsy Graseck - Global Head of Banks and Diversified Finance ResearchJennifer Childe - Director of Investor RelationsConference Call ParticipantsNone - AnalystMike Mayo - Resea ...

Atlantic Union Bankshares (NYSE:AUB) Q4 2025 Earnings call January 22, 2026 09:00 AM ET Company ParticipantsDavid Ring - Wholesale Banking ExecutiveBill Cimino - SVP of Investor RelationsShawn O'Brien - Senior Executive Vice President of Consumer Banking Group ExecutiveSteve Moss - Managing Director of Equity ResearchRob Gorman - CFOHannah Wynn - Equity Research AssociateJohn Asbury - CEOConference Call ParticipantsStephen Scouten - Managing Director and Senior Research AnalystJanet Lee - Director and U.S. ...