Financial Data and Key Metrics Changes - Independent Bank Corporation reported fourth quarter 2025 net income of $18.6 million or $0.89 per diluted share, compared to $18.5 million or $0.87 per diluted share in the prior year period [3] - For the year ended December 31, 2025, net income was $68.5 million or $3.27 per diluted share, up from $66.8 million or $3.16 per diluted share in 2024 [3] - Net interest income increased by $1 million or 2.2% over the third quarter of 2025, with a net interest margin of 3.62%, up eight basis points from the previous quarter [4] - Return on average assets and return on average equity were 1.35% and 14.75% respectively [4] - The tangible common equity ratio increased to 8.65% [4] Business Line Data and Key Metrics Changes - Total loans grew by $78 million or 7.4% annualized in the fourth quarter, with a total loan portfolio increase of $237 million or 5.9% for the year [9] - The commercial portfolio saw significant growth of $276 million or 14.2%, with quarterly growth of $88 million or 16% annualized [9] - The residential mortgage portfolio grew by $7.2 million, while the installment loan portfolio decreased by $17 million for the quarter [9] Market Data and Key Metrics Changes - Deposits totaled $4.8 billion at December 31, 2025, an increase of $107.6 million from December 31, 2024 [6] - The deposit base comprised 47% retail, 37% commercial, and 16% municipal, with all three portfolios up year-over-year [7] - Business deposits increased by $20.4 million, while retail deposits increased by $64.1 million, offset by a $28.6 million decrease in municipal deposits [7] Company Strategy and Development Direction - The company aims to continue investing in talent acquisition and technology to enhance its community banking franchise [23] - There is a focus on maintaining a strong commercial loan pipeline and integrating talented bankers into the organization [6] - The company anticipates loan growth in the mid-single-digit range for 2026, with a target of 4.5%-5.5% [20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate economic challenges and continue delivering strong results [23] - The outlook for net interest income growth is projected at 7%-8% for 2026, with net interest margin expansion expected [20] - Management noted that credit quality metrics remain positive, with non-performing loans at 54 basis points of total loans [11] Other Important Information - The company repurchased 407,113 shares of common stock for an aggregate purchase price of $12.4 million in 2025 [13] - A tax credit transfer agreement was executed, expected to reduce tax obligations and enhance earnings per share [19] Q&A Session Summary Question: Market outlook in Michigan and banker additions - Management expects to add a net of four to five bankers in 2026, with opportunities in Southeast Michigan due to M&A dislocation [27] Question: Loan growth outlook - The company anticipates mid-single-digit loan growth due to a strategic emphasis on commercial banking, with some shrinkage in consumer loans [30] Question: Margin guidance - Management forecasts a margin expansion of five to seven basis points in Q1 2026, with three to five basis points in subsequent quarters [36] Question: Capital management and M&A interest - The company is excited about its capital position, allowing flexibility for share repurchases and potential M&A opportunities, though not a requirement for success [39][41] Question: Charge-off expectations - Management expects charge-offs to remain low, similar to recent history, with a provision for credit losses of 20-25 basis points [53]

Financial Data and Key Metrics Changes - Core earnings were $0.99 per diluted share, indicating consistent earnings power and potential for growing returns on tangible common equity [4] - Net income was $26.6 million, or $0.88 per diluted share, with core net income at $30 million, or $0.99 per diluted share [11] - Net interest income grew by 1.8% to $77.9 million, exceeding guidance [12] - Tangible book value per share rose $0.87, or 3.4%, with a strong tier one leverage ratio of 9.36% [13] Business Line Data and Key Metrics Changes - On-balance sheet deposits grew by $179 million to $7.9 billion, while off-balance sheet deposits increased by $789 million to $1.1 billion [4] - Loans increased by $167 million, or 3.5%, to $4.9 billion, with growth in growth mode portfolios accelerating to 7% [5][6] - The PACE portfolio saw total assessments grow by $38 million, or 3%, to $1.3 billion [7] Market Data and Key Metrics Changes - Political deposits increased by $287 million to $1.7 billion, reflecting growth in fundraising ahead of elections [5] - Not-for-profit deposits grew by $388 million, social and philanthropy deposits by $122 million, and climate and sustainability deposits by $77 million [5] Company Strategy and Development Direction - The company aims to cross $10 billion in assets and is investing in people and technology for growth [7] - The business model is positioned for reliable growth, with a focus on profitability tied to mission purpose and a strong capital base [10] - The management team emphasizes disciplined balance sheet management and a values-aligned client franchise to attract mission-driven deposits [43] Management's Comments on Operating Environment and Future Outlook - The management highlighted the challenges faced in the banking sector, including rapid rate hikes and liquidity drains, but noted the bank's growth from $6 billion to nearly $9 billion in assets [8][9] - Expectations for growth and performance in 2026 are bold, with guidance indicating net interest income growth of 10%-11% and core pre-tax, pre-provision earnings growth of 9%-10% [16] Other Important Information - The company is implementing a new tax strategy that aims to improve the effective tax rate, targeting 26.5% for the upcoming year [25] - Asset quality metrics remained solid, although there was some credit turbulence, particularly related to a borrower in the DC market [14][15] Q&A Session Summary Question: Outlook for provision in 2026 and effective tax rate - Management expects provision outlook to remain similar to 2025, with a conservative approach to provisioning due to credit activity [24][25] Question: Political deposits outlook - Management anticipates growth in political deposits leading up to the election, with a strong pipeline for fundraising [27][28] Question: Multifamily growth and geographic distribution - Multifamily growth was strong, with nearly half of the growth occurring outside New York City, indicating good geographic diversification [29][31] Question: NIM expansion and commercial loan yields - NIM expansion was noted despite a down rate quarter, with loan yields expected to rise, particularly from repricing older real estate loans [34][35] Question: Growth potential of the PACE portfolio - There is significant room for growth in the CPACE portfolio, with strong yield opportunities and a focus on commercial PACE [36][37]

Financial Data and Key Metrics Changes - Core earnings were $0.99 per diluted share, indicating consistent earnings power and positioning for growing returns on tangible common equity [4] - Net income was $26.6 million, or $0.88 per diluted share, with core net income at $30 million, or $0.99 per diluted share [11] - Net interest income grew by 1.8% to $77.9 million, exceeding guidance [12] - Tangible book value per share rose $0.87, or 3.4%, and tier one leverage was strong at 9.36% [13] Business Line Data and Key Metrics Changes - On-balance sheet deposits grew by $179 million to $7.9 billion, while off-balance sheet deposits increased by $789 million to $1.1 billion [4] - Loans increased by $167 million, or 3.5%, to $4.9 billion, with growth in multifamily, commercial real estate (CRE), and commercial and industrial (C&I) portfolios increasing by 7% [5][6] - The PACE portfolio saw total assessments grow by $38 million, or 3%, to $1.3 billion [7] Market Data and Key Metrics Changes - Political deposits increased by $287 million to $1.7 billion, reflecting growth in fundraising ahead of elections [5] - Not-for-profit deposits grew by $388 million, social and philanthropy deposits increased by $122 million, and climate and sustainability deposits rose by $77 million [5] Company Strategy and Development Direction - The company aims to cross $10 billion in assets and is investing in people and technology for growth [7] - The business model is positioned for reliable growth, with a focus on profitability tied to mission purpose and a strong capital base [10] - The management team emphasizes disciplined execution and value creation as they enter 2026 [17] Management's Comments on Operating Environment and Future Outlook - The management highlighted the challenges faced in the banking sector, including rapid rate hikes and liquidity drains, but noted the bank's growth from $6 billion to nearly $9 billion [9] - Expectations for growth and performance in 2026 are bold, with guidance indicating net interest income growth of 10%-11% and core pre-tax, pre-provision earnings growth of 9%-10% [16] Other Important Information - The company is simplifying its financials by reducing non-core adjustments related to tax credits [14] - Asset quality metrics remained solid, although there was some credit turbulence, particularly related to a borrower in the DC market [15] Q&A Session Summary Question: Outlook for provision in 2026 and effective tax rate - Management expects provision outlook to be similar to 2025, with a target effective tax rate of 26.5% [23][25] Question: Political deposits outlook - Political deposits are expected to grow through the election, with a 20% quarter-over-quarter growth noted [27][28] Question: Multifamily growth specifics - Multifamily growth was strong, with nearly half coming from outside New York City, indicating good geographic diversification [29][31] Question: NIM expansion and commercial loan yields - NIM expansion was noted, with loan yields in the pipeline around 5.9%-6% for C&I and 5.70% for multifamily [34] Question: PACE portfolio growth outlook - There is significant room for growth in the CPACE portfolio, with strong yield opportunities and no restrictions on adding assets [36][37]

Financial Data and Key Metrics Changes - The company scaled its revenue from $9.5 billion in 2021 to nearly $19 billion in the past year, doubling its net income from $2 billion to over $4 billion [49] - Free cash flow also doubled from $3 billion to over $6 billion in the last fiscal year [49] - The stock performance over the last five years has increased more than three times compared to the S&P Software and Services ETF [50] Business Line Data and Key Metrics Changes - TurboTax Live grew 47%, becoming a $2 billion business [39] - QuickBooks Live, which utilizes human intelligence, doubled in growth over the last year [40] - The mid-market segment grew by 40%, indicating strong demand for the Intuit Enterprise Suite [40] Market Data and Key Metrics Changes - International revenue currently accounts for 8% of the company's total revenue [53] - The total addressable market is over $300 billion, with significant opportunities in the mid-market segment [19][32] Company Strategy and Development Direction - The company aims to create a system of intelligence that does all the work for customers, from lead to cash and credit to wealth [15][28] - The strategy includes three big bets: delivering done-for-you experiences, accelerating money benefits for customers, and focusing on the mid-market segment [29][32] - The company emphasizes the integration of AI and human intelligence to enhance customer experiences [28][35] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's growth trajectory, citing a nearly fourfold increase in size from $5 billion to almost $20 billion over the past years [16] - The focus remains on solving complex problems for consumers and businesses, with a commitment to doubling household savings rates and improving business success rates [25][18] - Management acknowledged areas of constructive dissatisfaction, particularly in the growth of Mailchimp and international markets, but expressed confidence in leadership and plans [17] Other Important Information - The company has a strong focus on culture and values, emphasizing integrity and customer-centricity [24][23] - The integration of technology and human intelligence is seen as essential for delivering value to customers [35] Q&A Session Questions and Answers Question: What is the company's current relationship to Human Rights Campaign's corporate index? - The company is rated by various organizations, including those focused on sustainability and the Human Rights Campaign [47] Question: What is Intuit doing to improve the message and increase value for retail investors? - The management team focuses on executing a strategy that has scaled revenue and net income significantly over the past five years, returning two-thirds of free cash flow to shareholders [49][50] Question: What percentage of Intuit's revenue is coming from international markets today, and what is the strategy to increase that? - Currently, 8% of revenue is international, with a global strategy focused on executing unique strategies for different geographies [53] Question: Will AI agents be coming to TurboTax? - Yes, AI agents are already part of the consumer platform and TurboTax, aimed at delivering customer benefits [54] Question: Would a sale or spinoff of QuickBooks' desktop business line be considered in future plans? - No, the company intends to continue serving its desktop customers as part of its integrated platform strategy [60]

RLI (NYSE:RLI) Q4 2025 Earnings call January 22, 2026 11:00 AM ET Company ParticipantsAaron Diefenthaler - CFOJen Klobnak - COOMitch Rubin - Equity Research AssociateJamie Inglis - Managing Director and PartnerMeyer Shields - Managing DirectorCraig Kliethermes - President and CEOAndrew Andersen - Equity Research Senior VPConference Call ParticipantsMark Hughes - AnalystChristian Getzoff - Senior Equity AnalystMichael Phillips - Managing Director and Senior AnalystsOperatorGood morning, and welcome to the RL ...

Financial Data and Key Metrics Changes - Banner Corporation reported a net profit available to common shareholders of $51.2 million, or $1.49 per diluted share, for Q4 2025, compared to $1.54 per share in Q3 2025 and $1.34 per share in Q4 2024 [5][6] - For the full year 2025, net income available to common shareholders was $195.4 million, or $5.64 per diluted share, up from $168.9 million, or $4.88 per share in 2024 [6] - Core earnings for the full year 2025 were $255 million, compared to $223.2 million in 2024, with core revenue increasing by 8% to $661 million [7][8] Business Line Data and Key Metrics Changes - Loan originations increased by 9% compared to the linked quarter and 8% year-over-year, but overall loan growth was negligible due to higher-than-expected paydowns [10] - The commercial real estate portfolio showed solid growth, with investor CRE increasing by 5% and owner-occupied CRE by 11% year-over-year [10] - The small business segment grew by 8% year-over-year, contributing positively to overall loan performance [13] Market Data and Key Metrics Changes - Core deposits represented 89% of total deposits, reflecting a strong and loyal deposit base [8] - The loan-to-deposit ratio ended the quarter at 86%, indicating ample capacity to support existing and new clients [18] - Total borrowings increased by $40 million during the quarter, with a low reliance on wholesale borrowings [19] Company Strategy and Development Direction - The company aims to maintain a moderate risk profile while investing in operating performance to position itself well for future challenges [6] - The strategy focuses on growing new client relationships, maintaining core funding, and promoting client loyalty through responsive service [8] - The company continues to explore M&A opportunities, indicating a proactive approach to growth [49] Management's Comments on Operating Environment and Future Outlook - Management expects loan growth in the mid-single digits for 2026, contingent on economic stability [25][62] - The competitive landscape remains challenging, but the company believes it competes well in terms of product offerings and pricing [27] - The outlook for net interest margin (NIM) is influenced by Federal Reserve actions, with potential for expansion if no rate cuts occur [28][29] Other Important Information - The company announced a core dividend of $0.50 per common share, reflecting strong capital and liquidity positions [8] - Banner was recognized as one of America's 100 best banks and received various accolades for client satisfaction and trustworthiness [9] Q&A Session Summary Question: Outlook for loan growth in 2026 - Management expects mid-single digit loan growth in 2026, despite potential headwinds from commercial real estate payoffs [25] Question: Competitive landscape for loan originations - The competitive environment remains strong, with some banks offering aggressive terms, but the company believes it can compete effectively [27] Question: Expectations for net interest margin - Future NIM will largely depend on Federal Reserve actions, with potential for expansion if no rate cuts occur [28][29] Question: Capital position and buyback plans - The company has approximately 1.2 million shares available for repurchase and will monitor market conditions for potential buybacks [47][48] Question: Tax rate expectations for 2026 - The expected tax rate for 2026 is around 19%, consistent with prior periods [59] Question: Impact of construction to permanent financing on growth - Management anticipates that commercial real estate payoffs will continue to be a headwind, projecting similar growth patterns as in 2025 [62]

Financial Data and Key Metrics Changes - Independent Bank Corporation reported fourth quarter 2025 net income of $18.6 million or $0.89 per diluted share, compared to $18.5 million or $0.87 per diluted share in the prior year period [3] - For the year ended December 31, 2025, net income was $68.5 million or $3.27 per diluted share, up from $66.8 million or $3.16 per diluted share in 2024 [3] - Net interest income increased by $1 million or 2.2% over the third quarter of 2025, with a net interest margin of 3.62%, up eight basis points from the previous quarter [4] - The return on average assets and return on average equity were 1.35% and 14.75% respectively [4] Business Line Data and Key Metrics Changes - Total loans grew by $78 million or 7.4% annualized in the fourth quarter, with a total loan portfolio increase of $237 million or 5.9% for the year [9] - The commercial loan portfolio saw significant growth of $276 million or 14.2%, with quarterly growth of $88 million or 16% annualized [9] - The residential mortgage portfolio grew by $7.2 million, while the installment loan portfolio decreased by $17 million for the quarter [9] Market Data and Key Metrics Changes - Deposits totaled $4.8 billion at December 31, 2025, an increase of $107.6 million from December 31, 2024, primarily due to growth in savings and interest-bearing checking accounts [6] - The deposit base composition was 47% retail, 37% commercial, and 16% municipal, with all three portfolios showing year-over-year growth [7] - The total cost of funds decreased by 15 basis points to 1.67% [7] Company Strategy and Development Direction - The company aims to continue investing in its team and technology while striving to be Michigan's most people-focused bank [23] - A robust commercial loan pipeline and strategic initiatives to attract talented bankers are key components of the company's growth strategy [6] - The company anticipates loan growth in the mid-single-digit range for 2026, with a focus on commercial loans while expecting mortgage loans to remain flat and installment loans to decline [20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to manage through various economic environments and deliver consistent results for shareholders [23] - The outlook for 2026 includes expectations for net interest income growth of 7%-8% and net interest margin expansion of 5-7 basis points in the first quarter [20] - Management noted that credit quality metrics remain positive, with non-performing loans at 54 basis points of total loans, slightly up from the previous quarter [11] Other Important Information - The company repurchased 407,113 shares of common stock for an aggregate purchase price of $12.4 million in 2025 [13] - A tax credit transfer agreement executed during the fourth quarter is expected to reduce tax obligations and enhance earnings per share [19] Q&A Session Summary Question: Market outlook in Michigan and banker additions for 2026 - Management expects to add a net of four to five bankers in 2026, with opportunities arising in Southeast Michigan due to M&A dislocation [27] Question: Loan growth outlook and factors affecting it - The company anticipates mid-single-digit loan growth due to strong commercial growth but lower levels in mortgage and consumer loans [30] Question: Margin guidance and drivers for optimism - Management forecasts margin expansion of five to seven basis points in Q1, with three to five basis points in subsequent quarters, driven by rate cuts and repricing of below-market assets [36] Question: Capital management and M&A landscape - The company is excited about its capital position, allowing flexibility for share repurchases and potential M&A opportunities, though M&A is not a requirement for continued success [39][41] Question: Charge-off expectations - Management expects charge-offs to remain low, similar to recent history, with a provision for credit losses of 20-25 basis points of average portfolio loans [53]

NovaGold Resources (NYSEAM:NG) Q4 2025 Earnings call January 22, 2026 11:00 AM ET Company ParticipantsPeter Adamek - CFO and VPGregory Lang - President and CEOSoundarya Iyer - Senior Equity Research AssociateMélanie Hennessey - VP of Corporate CommunicationsThomas Kaplan - ChairmanRaj Ray - Managing Director of Metals and Mining ResearchOperatorThank you for standing by. This is the conference operator. Welcome to NovaGold's 2025 Year-End Reports conference call and webcast. As a reminder, all participants ...

Banner (NasdaqGS:BANR) Q4 2025 Earnings call January 22, 2026 11:00 AM ET Company ParticipantsJill Rice - Chief Credit OfficerRich Arnold - Head of Investor RelationsMark Grescovich - President and CEOKelly Motta - Equity Research AssociateRob Butterfield - Chief Financial OfficerConference Call ParticipantsLiam Cahill - AnalystJeff Rulis - Managing Director and Senior Research AnalystMatthew Clark - Managing Director and Senior Research AnalystAndrew Terrell - Managing Director and Senior Research AnalystO ...

Third Coast Bancshares (NasdaqGS:TCBX) Q4 2025 Earnings call January 22, 2026 11:00 AM ET Company ParticipantsWoody Lay - Managing Director - Equity ResearchBart Caraway - Founder, Chairman, President, and CEONatalie Hairston - Head of Investor RelationsAudrey Spaulding - Chief Credit OfficerJohn McWhorter - CFOMichael Rose - Managing Director - Equity ResearchDave Storms - Director of Equity ResearchConference Call ParticipantsBernard Von Gizycki - Equity Research AnalystMatt Olney - Equity Research Analys ...