Core Points - Riverview Bancorp reported earnings of $1.2 million, or $0.06 per diluted share, for the third fiscal quarter ended December 31, 2024, a decrease from $1.6 million, or $0.07 per diluted share, in the previous quarter and $1.5 million, or $0.07 per diluted share, in the same quarter last year [1][2] - For the first nine months of fiscal 2025, net income was $3.8 million, or $0.18 per diluted share, compared to $6.8 million, or $0.32 per diluted share, in the same period of fiscal 2024 [2] Income Statement Review - Net interest income for the current quarter was $9.4 million, up from $8.9 million in the preceding quarter and $9.3 million in the same quarter last year [5][8] - The net interest margin (NIM) improved to 2.60% for the third quarter, a 14 basis point increase from the previous quarter and an 11 basis point increase from the same quarter last year [6][8] - Non-interest income was $3.3 million during the third fiscal quarter, down from $3.8 million in the preceding quarter but up from $3.1 million in the same quarter last year [11] Balance Sheet Review - Total loans decreased by $15.9 million to $1.05 billion at December 31, 2024, compared to $1.06 billion three months earlier, but increased by $26.9 million compared to a year earlier [15] - Total deposits decreased by $18.5 million to $1.22 billion at December 31, 2024, compared to $1.24 billion at September 30, 2024, and remained unchanged compared to a year ago [18] - Shareholders' equity was $158.3 million at December 31, 2024, down from $160.8 million three months earlier but nearly unchanged from $158.5 million a year earlier [20] Credit Quality - Non-performing loans totaled $168,000, or 0.02% of total loans, as of December 31, 2024, compared to $149,000, or 0.01% of total loans at September 30, 2024 [21] - Riverview recorded $114,000 in net loan charge-offs for the current quarter, compared to $2,000 in net loan recoveries for the preceding quarter [22] Capital/Liquidity - Riverview maintained a total risk-based capital ratio of 16.47% and a Tier 1 leverage ratio of 10.86% at December 31, 2024, well above regulatory requirements [25][26] - The company had approximately $450.1 million in available liquidity at December 31, 2024, including $164.4 million of borrowing capacity from the FHLB [26][27] Stock Repurchase Program - The Board of Directors adopted a stock repurchase program allowing the company to repurchase up to $2.0 million of its outstanding shares, with 200,073 shares repurchased at an average price of $5.43 during the third quarter [28]

Core Insights - S&T Bancorp, Inc. reported a net income of $33.1 million for Q4 2024, an increase from $32.6 million in Q3 2024 but a decrease from $37.0 million in Q4 2023 [1][2] - For the full year 2024, net income was $131.3 million, down from $144.8 million in 2023, with earnings per diluted share (EPS) at $3.41 compared to $3.74 in 2023 [2][13] Fourth Quarter 2024 Highlights - Net interest income for Q4 2024 was $83.3 million, a slight decrease from $84.5 million in Q3 2024, attributed to lower interest income on loans due to declining interest rates [6] - The net interest margin (NIM) on a fully taxable equivalent basis (FTE) was 3.77%, down from 3.82% in the previous quarter [7] - Total portfolio loans increased by $53.9 million, or 2.79% annualized, while total deposits rose by $128.3 million [7][11] - Nonperforming assets remained low at $27.9 million, or 0.36% of total loans plus other real estate owned (OREO) [9] Full Year 2024 Highlights - Total interest income for 2024 was $515.9 million, while total interest expense increased to $181.1 million, resulting in a net interest income of $334.8 million [14][29] - Noninterest income decreased to $49.1 million from $57.6 million in 2023, primarily due to realized losses from repositioning securities [15] - Noninterest expense increased to $218.9 million, driven by higher salaries and employee benefits [16][29] - The provision for credit losses was only $0.1 million compared to $17.9 million in 2023, indicating significant improvement in asset quality [18] Financial Condition - Total assets as of December 31, 2024, were $9.7 billion, up from $9.6 billion at the end of Q3 2024 [11] - The allowance for credit losses was $101.5 million, or 1.31% of total portfolio loans, down from 1.41% at the end of 2023 [18][30] - S&T maintained a strong regulatory capital position with all capital ratios above the well-capitalized thresholds [12] Dividend Information - The Board of Directors approved a cash dividend of $0.34 per share, an increase of 3.03% from the previous year [19]

Core Points - S&T Bancorp, Inc. has approved a cash dividend of $0.34 per share, marking an increase of $0.01 or 3.03% from the previous year's dividend of $0.33 [1] - The annualized yield based on the closing price of $38.16 on January 28, 2025, is 3.56% [1] - The dividend will be payable on February 27, 2025, to shareholders of record on February 13, 2025 [1] Company Overview - S&T Bancorp, Inc. is a bank holding company with total assets of $9.6 billion, headquartered in Indiana, Pennsylvania, and trades on NASDAQ under the symbol STBA [2] - The principal subsidiary, S&T Bank, was established in 1902 and operates in Pennsylvania and Ohio [2]

Core Viewpoint - First Bancorp reported a significant decline in net income for the fourth quarter of 2024, primarily due to a substantial securities loss and the impact of Hurricane Helene, while adjusted net income showed improvement compared to the previous quarter. Financial Performance - The company reported net income of $3.6 million, or $0.08 diluted EPS, for Q4 2024, down from $18.7 million, or $0.45 diluted EPS, in Q3 2024, and $29.7 million, or $0.72 diluted EPS, in Q4 2023 [1] - For the full year 2024, net income was $76.2 million, or $1.84 diluted EPS, compared to $104.1 million, or $2.53 diluted EPS, in 2023 [1] - Adjusted net income for Q4 2024 was $31.7 million, or $0.76 adjusted diluted EPS, up from $29.0 million, or $0.70 adjusted diluted EPS, in Q3 2024 [2] Net Interest Income and Margin - Net interest income for Q4 2024 was $88.8 million, an increase of 7.0% from Q3 2024 and 7.6% from Q4 2023 [5] - The tax-equivalent net interest margin (NIM) increased to 3.07% for Q4 2024, up from 2.90% in Q3 2024 [6][8] - The increase in net interest income was attributed to higher yields on the securities portfolio and effective management of deposit costs [5] Securities Loss and Transactions - The company executed a securities loss-earnback transaction, selling $280 million of available-for-sale securities at a loss of approximately $36.8 million [2] - The transaction aimed to capitalize on current yields, resulting in an increase in the yield on the securities portfolio by 25 basis points [8] Credit Quality - The nonperforming assets (NPA) to total assets ratio was 0.39% as of December 31, 2024, reflecting strong credit quality [15] - The company recorded net charge-offs of $0.9 million, an annualized 0.04% of average loans [15] Balance Sheet and Capital - Total assets amounted to $12.1 billion as of December 31, 2024, a slight decrease from the linked quarter [24] - The common equity tier 1 ratio was estimated at 14.33%, and the total risk-based capital ratio was 16.61%, both above regulatory minimums [32][34] - Total loans were $8.1 billion, reflecting a growth of $81.1 million, or 4.03%, from the previous quarter [27] Noninterest Income and Expenses - Total noninterest income for Q4 2024 was negative $23.2 million, primarily due to the securities loss [18] - Noninterest expenses decreased to $58.3 million, down from $59.9 million in the linked quarter, driven by a reduction in personnel expenses [19] Income Taxes - Income tax expense for Q4 2024 was $3.3 million, with an effective tax rate of 48.4%, influenced by incremental state tax-related expenses [21][23]

Core Insights - Penns Woods Bancorp, Inc. reported a net income of $17.7 million for the twelve months ended December 31, 2024, with earnings per share of $2.35 [1] Financial Performance - Core earnings for the three and twelve months ended December 31, 2024 were $4.4 million and $18.4 million, respectively, compared to $5.6 million and $16.7 million for the same periods in 2023 [3] - Basic and diluted core earnings per share for the three months ended December 31, 2024 were $0.58 and $0.57, while for the twelve months they were $2.44 [3] - Annualized core return on average assets was 0.78% for the three months and 0.83% for the twelve months ended December 31, 2024, compared to 1.02% and 0.79% for the same periods in 2023 [3] Net Interest Margin - The net interest margin for the three and twelve months ended December 31, 2024 was 2.98% and 2.83%, respectively, compared to 2.73% and 2.80% for the same periods in 2023 [4] - The average loan portfolio balance increased by $47.4 million and $106.9 million for the three and twelve months ended December 31, 2024, respectively [4] Assets and Loans - Total assets increased to $2.2 billion at December 31, 2024, an increase of $27.5 million compared to December 31, 2023 [5] - Net loans increased by $36.9 million to $1.9 billion at December 31, 2024, with a focus on commercial loan growth and indirect auto lending [5] Non-Performing Loans - The ratio of non-performing loans to total loans increased to 0.47% at December 31, 2024, from 0.17% at December 31, 2023, with non-performing loans rising to $8.9 million [6] Deposits - Total deposits increased by $116.6 million to $1.7 billion at December 31, 2024, with interest-bearing deposits growing by $130.8 million [7] - Core deposits declined by $17.8 million as customers migrated to higher-rate time deposits [7] Shareholders' Equity - Shareholders' equity increased by $13.7 million to $205.2 million at December 31, 2024, with a book value per share of $27.16 [8] - Accumulated other comprehensive loss decreased from $9.2 million at December 31, 2023, to $5.3 million at December 31, 2024 [8]

Core Insights - U.S. Bancorp has appointed Gunjan Kedia as the new CEO, effective after the April 15 shareholders meeting, with current CEO Andy Cecere transitioning to the role of executive chairman [1] - The company emphasizes its strong succession planning and internal talent development, highlighting the depth of its leadership bench [2] - Kedia, who joined U.S. Bancorp in 2016, is the first female CEO of the bank and has nearly 30 years of experience in the financial services sector [3] Financial Performance - U.S. Bancorp's recent quarterly earnings report noted changes in deposit activity, growth in card loans, and positive momentum in payments-related business lines, which are expected to continue throughout the year [4] - The outgoing CEO, Cecere, acknowledged the uncertainty in the macroeconomic environment but stated that the company effectively managed these challenges while executing its strategic objectives [4] Industry Context - The bank is focusing on balancing trust among financial services firms, merchants, and consumers, particularly in the face of threats like fraud and compliance risks [4] - There is a need for friction in digital interactions to ensure proper vetting of customers while maintaining transparency [5]

Core Insights - Mission Bancorp reported a slight decrease in net income for Q4 2024, with net income available to common shareholders at $7.7 million, or $2.85 per diluted share, compared to $7.8 million, or $2.91 per diluted share in Q4 2023 [1][4][28] - For the full year 2024, net income was $30.1 million, down from $30.5 million in 2023, reflecting challenges in the current economic environment [1][6] Financial Performance - Q4 2024 net interest income was $17.7 million, with a net interest margin of 3.96%, down from 4.58% in Q4 2023 [7][10] - The provision for credit losses for Q4 2024 was $0.4 million, unchanged from the linked quarter, indicating stable credit quality [18] - Non-interest income decreased by 34.6% to $1.6 million in Q4 2024 compared to the linked quarter, primarily due to lower SBA servicing fees [19] Balance Sheet Highlights - Total assets increased by 13.6% to $1.88 billion as of December 31, 2024, compared to the previous year [32] - Total deposits rose by 14.8% to $1.65 billion, with non-interest-bearing deposits representing 39.2% of total deposits [35] - Loans increased by 6.6% to $1.29 billion, with growth concentrated in commercial real estate and residential segments [34] Efficiency and Returns - The operating efficiency ratio for Q4 2024 was 42.0%, slightly up from 41.7% in Q4 2023 [24] - Return on average equity for Q4 2024 was 16.3%, down from 20.9% in the same period last year [28][31] - The annual return on average equity for 2024 was 17.3%, down from 22.0% in 2023 [31] Regulatory and Capital Position - The Community Bank Leverage Ratio was 11.07% as of December 31, 2024, above the required 9.00% for well-capitalized institutions [39] - The allowance for credit losses as a percentage of gross loans remained stable at 1.50% [38] Stock Repurchase Program - The company extended its stock repurchase plan, allowing for the repurchase of up to $1.0 million of common stock [40][41]

Core Points - First Financial Bancorp. declared a quarterly cash dividend of $0.24 per common share, payable on March 17, 2025, to shareholders of record as of March 3, 2025 [1] Company Overview - First Financial Bancorp. is a bank holding company based in Cincinnati, Ohio, with total assets of $18.6 billion, loans amounting to $11.8 billion, deposits of $14.3 billion, and shareholders' equity of $2.4 billion as of December 31, 2024 [2] - The company's subsidiary, First Financial Bank, offers banking and financial services through six business lines: Commercial, Retail Banking, Investment Commercial Real Estate, Mortgage Banking, Commercial Finance, and Wealth Management [2] - Wealth Management had approximately $3.7 billion in assets under management as of December 31, 2024 [2] - The company operated 127 full-service banking centers across Ohio, Indiana, Kentucky, and Illinois as of December 31, 2024 [2]

Full year 2024 net income of $320.4 million set a new Company record, increasing 15% compared to 2023. Full year 2024 diluted earnings per common share of $6.30 reached the highest level in Company history and increased 12% compared to 2023. Fourth quarter 2024 net income of $95.7 million, increased 23% compared to fourth quarter of 2023 and increased 56% compared to the third quarter 2024, which reflected a $42.4 million, or 253%, increase in noninterest income. Fourth quarter 2024 diluted earnings per co ...

PRINCETON, N.J., Jan. 28, 2025 /PRNewswire/ -- Princeton Bancorp, Inc. (the "Company") (NASDAQ - BPRN), the bank holding company for The Bank of Princeton (the "Bank"), today reported its unaudited financial condition and results of operations at and for the quarter and twelve-months ended December 31, 2024.President/CEO Edward Dietzler commented, "We are proud to have completed our 17th year of operations with a successful performance. We completed the acquisition of Cornerstone Bank, continuing our long-t ...