Day: October 26, 2023

ARCHBOLD, Ohio, Oct. 26, 2023 (GLOBE NEWSWIRE) — Farmers & Merchants Bancorp, Inc. (Nasdaq: FMAO) today reported financial results for the 2023 third quarter and year-to-date September 30, 2023. 2023 Third Quarter Financial and Operating Highlights (on a year-over-year basis unless noted):82 consecutive quarters of profitability Net income was $4.8 million, or $0.35 per basic and diluted share Stockholders’ equity increased 8.1% to $303.2 million Regulatory tangible book value per share increased 2.8% to $18.36 per share Total loans were a record of $2.53 billion and increased 7.2% from $2.36 billion at December 31, 2022 Total assets increased 16.2% to a record $3.23 billion Deposits increased 4.3% to a record $2.58 billion Asset quality remains strong as nonperforming loans were 0.89% of total loans Net charge-offs to average...

RALEIGH, N.C., Oct. 26, 2023 (GLOBE NEWSWIRE) — Integrated Financial Holdings, Inc. (OTCQX: IFHI) (the “Company” or “IFHI”), the financial holding company for West Town Bank & Trust (the “Bank”), released its financial results for the three and nine months ended September 30, 2023. Highlights from the 2023 third quarter results include the following:Third quarter net income of $2.4 million, or $1.06 per diluted share compared to a third quarter 2022 net loss of $7.5 million, or $(3.45) per diluted share. Year-to-date net income of $8.3 million or $3.69 per diluted share compared to a net loss of $2.6 million or $(1.18) per diluted share in the prior year. Net interest income of $5.6 million for the third quarter of 2023, compared to $5.7 million for the same period in 2022. For the year, net interest income was $16.8 million...

Third Quarter 2023 Highlights:Net income available to common shareholders of $15.8 million, or $0.71 per diluted share Adjusted earnings per diluted share of $0.78 reflects impact of balance sheet repositioning that is expected to be accretive to earnings prospectively Common equity tier 1 capital ratio improved to 8.16% Efficiency ratio of 55.8% compared to 55.0% in prior quarterEFFINGHAM, Ill., Oct. 26, 2023 (GLOBE NEWSWIRE) — Midland States Bancorp, Inc. (Nasdaq: MSBI) (the “Company”) today reported net income available to common shareholders of $15.8 million, or $0.71 per diluted share, for the third quarter of 2023, compared to $19.3 million, or $0.86 per diluted share, for the second quarter of 2023. This also compares to net income available to common shareholders of $23.5 million, or $1.04 per diluted share, for the...

IOWA CITY, Iowa, Oct. 26, 2023 (GLOBE NEWSWIRE) — MidWestOne Financial Group, Inc. (Nasdaq: MOFG) (“we”, “our”, or the “Company”) today reported results for the third quarter of 2023. Third Quarter 2023 Highlights1Net income of $9.1 million, or $0.58 per diluted common share, compared to net income of $7.6 million, or $0.48 per diluted common share, for the linked quarter. Annualized loan growth of 4.8%. Core deposits increased $83.2 million or 2%. Nonperforming assets ratio of 0.45%; net charge-off ratio was 0.04%. Efficiency ratio improved to 66.06%. Announced sale of Florida operations and acquisition of Denver Bankshares, Inc. (“Denver Bankshares”) in strategic geographic repositioning.Subsequent EventsOn October 24, 2023, the Board of Directors declared a cash dividend of $0.2425 per common share.CEO...

WYOMISSING, Pa., Oct. 26, 2023 (GLOBE NEWSWIRE) — Gaming and Leisure Properties, Inc. (NASDAQ: GLPI) (“GLPI” or the “Company”) today announced financial results for the quarter ended September 30, 2023. Financial Highlights    Three Months Ended September 30,(in millions, except per share data)     2023     2022Total Revenue   $ 359.6   $ 333.8Income from Operations   $ 268.3   $ 317.6Net Income   $ 189.3   $ 226.2FFO(1) (4)   $ 254.4   $ 232.8AFFO(2) (4)   $ 251.2   $ 235.0Adjusted EBITDA(3) (4)   $ 327.1   $ 308.8Net income, per diluted common share and OP units(4)   $ 0.70   $ 0.85FFO, per diluted common share and OP units(4)   $ 0.94   $ 0.88AFFO, per diluted common share and OP units(4)   $ 0.92   $ 0.89 (1) Funds from Operations (“FFO”) is net income, excluding (gains)...

– Net Income of $4.8 Million for Third Quarter of 2023 – – Diluted Earnings Per Share of $0.37 for Third Quarter of 2023 – MURRAY, Utah, Oct. 26, 2023 (GLOBE NEWSWIRE) — FinWise Bancorp (NASDAQ: FINW) (“FinWise” or the “Company”), parent company of FinWise Bank (the “Bank”), today announced results for the quarter ended September 30, 2023. Third Quarter 2023 HighlightsLoan originations were $1.1 billion, compared to $1.2 billion for the quarter ended June 30, 2023, and $1.5 billion for the third quarter of the prior year Net interest income was $14.4 million, compared to $13.7 million for the quarter ended June 30, 2023, and $12.5 million for the third quarter of the prior year Net Income was $4.8 million, compared to $4.6 million for the quarter ended June 30, 2023, and $3.7 million for the third quarter...

CALHOUN, Ga., Oct. 26, 2023 (GLOBE NEWSWIRE) — Mohawk Industries, Inc. (NYSE: MHK) today announced a third quarter 2023 net loss of $760 million and a loss per share of $11.94 with the impact of non-cash impairment charges of $876 million. The Company’s current market capitalization along with continued challenging macroeconomic conditions and higher discount rates prompted a review of its goodwill and intangible asset balances, which resulted in the impairment charges. Adjusted net earnings were $174 million, and adjusted earnings per share (“EPS”) were $2.72, excluding impairment and other non-recurring charges. Net sales for the third quarter of 2023 were $2.8 billion, a decrease of 5.2% as reported and 8.1% on a legacy and constant currency and days basis versus the prior year. During the third quarter of 2022, the Company...

MINNEAPOLIS, Oct. 26, 2023 (GLOBE NEWSWIRE) — CVRx, Inc. (NASDAQ: CVRX) (“CVRx”), a commercial-stage medical device company focused on developing, manufacturing and commercializing innovative neuromodulation solutions for patients with cardiovascular diseases, today announced its financial and operating results for the third quarter of 2023. Recent HighlightsTotal revenue for the third quarter of 2023 was $10.5 million, an increase of 70% over the prior year quarter U.S. Heart Failure (HF) revenue for the third quarter of 2023 was $9.4 million, an increase of 92% over the prior year quarter Active implanting centers in the U.S. grew to 159, an increase of 75% since September 30, 2022 Cash used in operating and investing activities for the third quarter of 2023 was $8.2 million, as compared to $11.4 million for the third quarter...

HOLLAND, Mich., Oct. 26, 2023 (GLOBE NEWSWIRE) — Macatawa Bank Corporation (NASDAQ: MCBC), the holding company for Macatawa Bank (collectively, the “Company”), today announced its results for the third quarter 2023.Net income of $11.4 million in third quarter 2023 – an increase of 13.6% over $10.0 million earned in third quarter 2022 and up 10.7% from $10.3 million earned in second quarter 2023 Net interest margin increased to 3.35% in third quarter 2023 versus 2.86% in third quarter 2022 and decreased slightly from 3.36% in second quarter 2023 Continued loan portfolio growth – $19.7 million, or 6% annualized growth rate, for the third quarter 2023, and $152.6 million, or 13.4%, in the last 12 months Deposit portfolio balances increased $124.0 million in the third quarter 2023, all in core deposits primarily due to seasonal inflows...

ANCHORAGE, Alaska, Oct. 26, 2023 (GLOBE NEWSWIRE) — Northrim BanCorp, Inc. (NASDAQ:NRIM) (“Northrim” or the “Company”) today reported net income of $8.4 million, or $1.48 per diluted share, in the third quarter of 2023, compared to $5.6 million, or $0.98 per diluted share, in the second quarter of 2023, and $10.1 million, or $1.76 per diluted share, in the third quarter a year ago. The increase in third quarter 2023 profitability as compared to the prior quarter was primarily the result of higher net interest income, a gain on an OREO sale, an increase in mortgage banking income, unrealized gains on marketable equity securities and a lower provision for credit losses compared to the preceding quarter. The decrease in profitability in the third quarter of 2023 compared to the same period a year ago was primarily due to a higher...