Month: April 2021

ANCHORAGE, Alaska, April 26, 2021 (GLOBE NEWSWIRE) — Northrim BanCorp, Inc. (NASDAQ:NRIM) (“Northrim” or the “Company”) today reported net income of $12.2 million, or $1.94 per diluted share, in the first quarter of 2021, compared to $10.1 million, or $1.59 per diluted share, in the fourth quarter of 2020, and $1.03 million, or $0.16 per diluted share, in the first quarter a year ago. Continued high levels of production in the Home Mortgage Lending segment, continued loan and core deposit growth, and fee and interest income from the Small Business Administration’s (“SBA”) Paycheck Protection Program (“PPP”) loans contributed to profitability for the quarter. Also benefiting first quarter results was a $1.5 million benefit to the provision for credit losses. This compares to a $599,000 benefit...

Dubuque, IA, April 26, 2021 (GLOBE NEWSWIRE) — Highlights and DevelopmentsRecord net income available to common stockholders of $50.8 million compared to $20.0 million for the first quarter of 2020, an increase of $30.8 million or 153% Diluted earnings per common share of $1.20 compared to $0.54 for the first quarter of the prior year, an increase of $0.66 or 122% Annualized net charge off ratio of 0.06%, nonperforming assets to total assets of 0.54%, and 30-89 day loan delinquencies of 0.16% Net interest income of $139.6 million compared to $112.5 million for the first quarter of 2020, an increase of $27.1 million or 24% Efficiency ratio (non-GAAP)1 of 56.61% compared to 61.82% for the first quarter of 2020 Completed the AimBank systems conversion on February 19, 2021 Announced a branding change on April 14, 2021 from Heartland...

MARIETTA, Pa., April 26, 2021 (GLOBE NEWSWIRE) — Donegal Group Inc. (NASDAQ: DGICA) and (NASDAQ: DGICB) today reported its financial results for the first quarter of 2021. Highlights for First Quarter of 2021 (all comparisons to first quarter of 2020):Net income of $10.5 million, or 35 cents per diluted Class A share, compared to $3.7 million, or 13 cents per diluted Class A share Net premiums earned of $187.3 million, virtually unchanged Net premiums written1 increased 8.9% to $215.9 million Combined ratio of 98.5%, compared to 97.0% Net income included after-tax net investment gains of $2.0 million, or 6 cents per diluted Class A share, compared to net investment losses of $8.4 million, or 29 cents per diluted Class A share Annualized return on average equity of 8.0%, compared to 3.3% Book value per share of $17.29 at March 31,...

Record Intermodal Traffic and Shipments of Canadian GrainPositioned to Drive Long-Term USMCA Growth as Economy ReboundsCN Now Targeting Double-Digit Adjusted Diluted EPS Growth(1) MONTREAL, April 26, 2021 (GLOBE NEWSWIRE) — CN (TSX: CNR) (NYSE: CNI) today announced solid results in the first quarter of 2021, including an industry-leading increase in traffic volume of five per cent year-over-year. The Company updated its 2021 financial outlook and is now targeting double-digit adjusted diluted earnings per share growth(1). “Industry-outpacing growth in our intermodal business, as well as our strong financial performance, position CN to be the premier railway of the 21st century: an engine of North American economic growth and prosperity and both an operational and sustainability leader. Gains in safety, train length, car velocity,...

CHATTANOOGA, Tenn., April 26, 2021 (GLOBE NEWSWIRE) — Covenant Logistics Group, Inc. (NASDAQ/GS: CVLG) (“Covenant” or the “Company”) announced today financial and operating results for the first quarter ended March 31, 2021. The Company’s live conference call to discuss the quarter will be held at 11:00 A.M. Eastern Time on Tuesday, April 27th, 2021. Chairman and Chief Executive Officer, David R. Parker, commented: “We were pleased to report first quarter earnings of $0.65 per share and adjusted earnings of $0.56 per share, which are the highest first quarter earnings in the Company’s history. Perhaps even more encouraging is the fact that we are less than a year into restructuring our business and have substantial remaining opportunity for further improvement. In the short run, this means continuing to improve or replace underperforming...