Month: January 2020

ROSEMONT, Ill., Jan. 21, 2020 (GLOBE NEWSWIRE) — Wintrust Financial Corporation (“Wintrust” or “the Company”) (Nasdaq: WTFC) announced record net income of $355.7 million or $6.03 per diluted common share for the year ended December 31, 2019 compared to net income of $343.2 million or $5.86 per diluted common share for the same period of 2018.  The Company recorded net income of $86.0 million or $1.44 per diluted common share for the fourth quarter of 2019, a decrease in diluted earnings per common share of 14.8% compared to the prior quarter and an increase of 6.7% compared to the fourth quarter of 2018.Highlights of the Fourth Quarter of 2019:Comparative information to the third quarter of 2019Total assets increased by $1.7 billion, including $240 million from the acquisition of STC Capital Bancshares...

ALTAVISTA, Va. and DANVILLE, Va., Jan. 21, 2020 (GLOBE NEWSWIRE) — Pinnacle Bankshares Corporation (OTCQX: PPBN) (“Pinnacle”) and Virginia Bank Bankshares, Inc. (OTC Pink: VABB) (“Virginia Bank”) today jointly announced the signing of a definitive agreement to combine in a strategic merger.  The combined company would have approximately $703 million in total assets, $624 million in total deposits, and $537 million in loans based upon reported amounts as of September 30, 2019.The merger agreement was approved by the boards of directors of both companies and has unanimous support from all directors. Under the terms of the agreement, Virginia Bank shareholders will have the opportunity to elect to receive either $16.00 of cash (the “Cash Consideration”) or 0.5000 shares of Pinnacle common stock...

SANTA CLARA, Calif., Jan. 21, 2020 (GLOBE NEWSWIRE) — Inphi Corporation (NYSE: IPHI), a leader in high-speed data movement interconnects, today announced it will release its fourth quarter 2019 results for the quarter ended December 31, 2019 on Tuesday, February 4, 2020, after the close of the market. In conjunction with the release, Inphi will hold a conference call at 4:30 p.m. Eastern Time/1:30 p.m. Pacific Time with Ford Tamer, President and Chief Executive Officer, and John Edmunds, Chief Financial Officer.To participate via telephone, dial 765-507-2591, conference ID: 3853299. Please dial in 10 minutes prior to the scheduled conference call time. A webcast of the conference call will be available live and archived on Inphi’s website at https://www.inphi.com/investors/.About InphiInphi Corporation is a leader in high-speed...

EPS of $0.61, Return on Assets of 1.50% and Return on Equity of 12.07%GREENVILLE, S.C., Jan. 21, 2020 (GLOBE NEWSWIRE) — United Community Banks, Inc. (NASDAQ: UCBI) (“United”) today announced its fourth quarter financial results, including strong year-over-year loan and deposit growth, operating efficiency and asset quality. Diluted earnings per share were $0.61, an increase of $0.05 or 9% from a year ago. Excluding a nominal amount of merger-related and other charges, diluted operating earnings per share were also $0.61, up 7% over last year. United’s return on assets was 1.50% and its return on common equity was 12.1% for the quarter. On an operating basis, United’s return on assets was also 1.50% and its return on tangible common equity was 15.5%.During the quarter, the company sold its remaining investment...

KNOXVILLE, Tenn., Jan. 21, 2020 (GLOBE NEWSWIRE) — SmartFinancial, Inc. (“SmartFinancial” or the “Company”; NASDAQ: SMBK), today announced net income of $6.7 million, or $0.48 per diluted common share, for the fourth quarter of 2019, compared to net income of $6.0 million, or $0.42 per diluted common share, for the third quarter of 2019.  Net operating earnings (Non-GAAP), which excludes securities gains, merger related and restructuring expenses and non-operating items, totaled $6.5 million, or $0.46 per diluted common share, in the fourth quarter of 2019, compared to $6.0 million, or $0.43 per diluted common share, in the third quarter of 2019.For the year ending December 31, 2019, net income is $26.5 million, or $1.89 per diluted common share, compared to net income of $18.1 million, or $1.45 per...

TORONTO, Jan. 21, 2020 (GLOBE NEWSWIRE) — Moses Znaimer, Founder and CEO of ZoomerMedia Limited has announced the appointment of Terence Chan, CPA, CA, CPA (Illinois) to the position of Chief Financial Officer effective February 1, 2020.“I’m excited to be working with Moses, and happily find myself back where commerce and creativity intersect,” said Chan.Chan is a seasoned executive with over 25 years of experience in all areas of finance. He has served in senior finance roles in both the private and public sectors including Novartis Consumer Health, AstraZeneca Canada and, most recently, Health Shared Services Ontario. Chan’s media experience as director of finance for Astral Kids Television, and his key role in the expansion of that business with the launch of Disney Junior, Disney XD channels and their...

YUBA CITY, Calif., Jan. 21, 2020 (GLOBE NEWSWIRE) — River Valley Community Bancorp (OTC markets: RVCB) with its wholly owned subsidiary, River Valley Community Bank (collectively referred to as the “Bank”), today announced financial results for the quarter and year ended December 31, 2019.Consolidated financial highlights:Total assets as of December 31, 2019 reached a new record level of $442.3 million compared to $377.0 million as of December 31, 2018.Net income for the year ended December 31, 2019 also reached a new record level of $4.2 million or $1.68 per diluted share compared to $3.7 million or $1.48 per diluted share for the year ended December 31, 2018.Net income for the quarter ended December 31, 2019 totaled $1.0 million or $0.39 per diluted share compared to $0.8 million or $0.32 per diluted share for the...

HOUSTON, Jan. 21, 2020 (GLOBE NEWSWIRE) — VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (VAALCO or the Company) today provided an operational update on its 2019/2020 drilling program offshore Gabon.  HighlightsSuccessfully completed a planned workover on the Etame platform for the Etame 10H well and restored 600 gross barrels of oil per day (BOPD), 160 net(1) BOPD to VAALCO;Reported stabilized production rates of 1,000 gross BOPD, 270 net BOPD to VAALCO from the Etame 4H well brought online in December 2019;Mobilized the drilling rig to the Southeast Etame North Tchibala (SEENT) platform and commenced drilling the Southeast Etame 4P appraisal wellbore which will evaluate a previously undrilled Gamba formation step out area;Pending positive results from the appraisal wellbore, VAALCO plans to promptly drill a third development...

RUSTON, La., Jan. 21, 2020 (GLOBE NEWSWIRE) — Century Next Financial Corporation (OTCQX: CTUY), the holding company of Century Next Bank, is pleased to announce it has been named to the 2020 OTCQX® Best 50, a ranking of top performing companies traded on the OTCQX Best Market last year.The OTCQX Best 50 is an annual ranking of the top 50 U.S. and international companies traded on the OTCQX market.  The ranking is calculated based on an equal weighting of one-year total return and average daily dollar volume growth in the previous calendar year.  Companies in the 2020 OTCQX Best 50 were ranked based on their performance in 2019. “We are proud to have achieved this honor.  It is a reflection of our successful efforts over the past year to grow our consolidated company, increase our visibility among potential...

KIRKLAND, Wash., Jan. 21, 2020 (GLOBE NEWSWIRE) — Monolithic Power Systems (MPS) (Nasdaq: MPWR), a leading company in high performance analog solutions, today announced plans to report its financial results for the fourth quarter and year ended December 31, 2019.MPS will report its results after the market closes on Thursday, February 13th and host its quarterly teleconference at 2:00 p.m. PT / 5:00 p.m. ET. This call will be webcast live for all investors and archived on the company’s website at www.monolithicpower.com.To access the teleconference webcast, go to the Investor Relations page of the MPS website at http://ir.monolithicpower.com, and click on the webcast link under “Events and Presentations.” From this site, you can listen to the teleconference, assuming that your computer system is configured properly.In...