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Day: January 25, 2024

Macatawa Bank Corporation Reports Fourth Quarter and Full Year 2023 Results

HOLLAND, Mich., Jan. 25, 2024 (GLOBE NEWSWIRE) — Macatawa Bank Corporation (NASDAQ: MCBC), the holding company for Macatawa Bank (collectively, the “Company”), today announced its results for the fourth quarter and full year 2023.Full year net income of $43.2 million in 2023 – a 24% increase over $34.7 million in the prior year Net income of $9.5 million in fourth quarter 2023 – a decrease from $12.1 million earned in fourth quarter 2022 and from $11.4 million earned in third quarter 2023 Fourth quarter 2023 net income impacted by $1.3 million in non-recurring costs related to CEO retirement – after tax impact of $1.0 million Net interest margin decreased to 3.28% in fourth quarter 2023 versus 3.34% in fourth quarter 2022 and 3.35% in third quarter 2023 Continued loan portfolio growth – $47.1 million, or 14.6% annualized growth...

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Midland States Bancorp, Inc. Announces 2023 Fourth Quarter Results

Fourth Quarter 2023 Highlights:Net income available to common shareholders of $18.5 million, or $0.84 per diluted share Adjusted earnings available to common shareholders of $19.8 million, or $0.89 per diluted share Tangible book value per share increased 7.8% from prior quarter to $23.35 Common equity tier 1 capital ratio improved to 8.40% from 8.07% Net interest margin of 3.21%, compared to 3.20% in prior quarter Efficiency ratio of 55.2% compared to 55.8% in prior quarterEFFINGHAM, Ill., Jan. 25, 2024 (GLOBE NEWSWIRE) — Midland States Bancorp, Inc. (Nasdaq: MSBI) (the “Company”) today reported net income available to common shareholders of $18.5 million, or $0.84 per diluted share, for the fourth quarter of 2023, compared to $9.2 million, or $0.41 per diluted share, for the third quarter of 2023. This also compares to net...

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SB Financial Group Announces Fourth Quarter and Full Year 2023 Results

DEFIANCE, Ohio, Jan. 25, 2024 (GLOBE NEWSWIRE) — SB Financial Group, Inc. (NASDAQ: SBFG) (“SB Financial” or the “Company”), a diversified financial services company providing full-service community banking, mortgage banking, wealth management, private client and title insurance services today reported earnings for the fourth quarter and twelve months ended December 31, 2023. Fourth Quarter 2023 Highlights Over the Fourth Quarter Prior Year Include:Net income of $3.9 million increased by 9.9 percent compared to the prior year with diluted Earnings Per Share (“EPS”) of $0.57 and increased 44.5 percent compared to the linked quarter. Interest income of $15.1 million increased by 16.9 percent from the prior year. Loan growth of $38.1 million, or 4.0 percent from the prior year quarter, marks the eighth consecutive quarter of expanding...

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Chemung Financial Corporation Reports Annual Net Income of $25.0 million, or $5.28 per share, and Fourth Quarter 2023 Net Income of $3.8 million, or $0.80 per share

ELMIRA, N.Y., Jan. 25, 2024 (GLOBE NEWSWIRE) — Chemung Financial Corporation (the “Corporation”) (Nasdaq: CHMG), the parent company of Chemung Canal Trust Company (the “Bank”), today reported net income of $25.0 million, or $5.28 per share, for the year ended December 31, 2023, compared to $28.8 million, or $6.13 per share, for the year ended December 31, 2022. Net income was $3.8 million, or $0.80 per share, for the fourth quarter of 2023, compared to $7.6 million, or $1.61 per share, for the third quarter of 2023, and $7.4 million, or $1.58 per share, for the fourth quarter of 2022. “Our fourth quarter performance was challenged by certain credit related events that we do not believe are indicative of portfolio quality. Overall, our team delivered another strong year of financial results,” said Anders M. Tomson, President...

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Key Tronic Corporation Announces Second Quarter Reporting Date

SPOKANE VALLEY, Wash., Jan. 25, 2024 (GLOBE NEWSWIRE) — Key Tronic Corporation (Nasdaq: KTCC), announced today that it plans to report its results for the second quarter of fiscal 2024 after market close on February 6, 2024. Keytronic will host a conference call to discuss its financial results at 2:00 PM Pacific (5:00 PM Eastern) on February 6, 2024. A broadcast of the conference call will be available at www.keytronic.com under “Investor Relations” or by calling 877-400-0505 or +1-323-701-0225 (Access Code: 5587222). A replay will be available at www.keytronic.com under “Investor Relations”. About Keytronic Keytronic is a leading contract manufacturer offering value-added design and manufacturing services from its facilities in the United States, Mexico, China and Vietnam. The Company provides its customers full engineering services,...

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BayFirst Financial Corp. Reports Fourth Quarter 2023 Results; Highlighted by Net Interest Margin Expansion and Strong SBA Loan Originations

ST. PETERSBURG, Fla., Jan. 25, 2024 (GLOBE NEWSWIRE) — BayFirst Financial Corp. (NASDAQ: BAFN) (“BayFirst” or the “Company”), parent company of BayFirst National Bank (the “Bank”) today reported net income of $1.7 million, or $0.32 per diluted common share, for the fourth quarter of 2023 compared to $1.9 million, or $0.41 per diluted common share, in the third quarter of 2023. Net income from continuing operations was $1.7 million for the fourth quarter of 2023, compared to net income from continuing operations of $2.0 million in the third quarter of 2023 and $2.1 million in the fourth quarter of 2022. Earnings benefited from higher net interest income and lower provision for credit losses during the fourth quarter, as compared to the third quarter of 2023. This was offset by higher noninterest expense and a gain recorded in the...

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Toll Brothers at Northside Opens New Model Home in Camas School District near Portland

Model home grand opening event is this Saturday, January 27 from noon – 4pm PTToll Brothers at NorthsideNew model home now open at Toll Brothers at Northside luxury home community in the Camas School District near PortlandToll Brothers at NorthsideNestled on a scenic hillside and offering breathtaking views, Toll Brothers at Northside is a stunning community of one-, two-, and three-story homes on expansive home sites near Portland.WASHOUGAL, Wash., Jan. 25, 2024 (GLOBE NEWSWIRE) — Toll Brothers, Inc. (NYSE:TOL), the nation’s leading builder of luxury homes, today announced a new model home is open at its Toll Brothers at Northside community near Portland, Oregon. The public is invited to attend a grand opening of the new professionally decorated Samish Prairie two-story model home this Saturday, January 27 from...

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Acreage Broadens Footprint with Relocation of Third Dispensary in Connecticut

Newly relocated dispensary will be the first cannabis storefront in the town of Vernon, CT Relocated dispensary will open to patients on January 26, 2024 at 9:00 a.m. ET NEW YORK, Jan. 25, 2024 (GLOBE NEWSWIRE) — Acreage Holdings, Inc. (“Acreage” or the “Company”) (CSE: ACRG.A.U, ACRG.B.U) (OTCQX: ACRHF, ACRDF), a vertically integrated, multi-state operator of cannabis cultivation and retailing facilities in the U.S., today announced the relocation of its third Connecticut location to the town of Vernon, marking the first-ever cannabis dispensary in the borough of over 30,000 residents. Located at 234 Talcotville Road, Vernon, CT, The Botanist Vernon is surrounded by many local businesses and restaurants with quick access to Route 84. The dispensary will provide medical patients with full access to a wide range of products both...

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Equinor to take full ownership in Empire Wind through a swap transaction with bp in the US

Equinor (OSE: EQNR, NYSE: EQNR) has entered into a swap transaction with bp, under which Equinor will take full ownership of the Empire Wind lease and projects and bp will take full ownership of the Beacon Wind lease and projects. Under the agreement, Equinor will take 100% ownership of Empire Offshore Wind Holdings LLC. Subject to certain conditions, Equinor will also take over bp’s 50% share of the South Brooklyn Marine Terminal (SBMT) lease. Bp will take over Beacon Wind Holdings LLC and the associated project company that holds the Astoria Gateway for Renewable Energy site and will become the operator of the Beacon Wind projects. The transaction will be cash neutral, except for standard settlements of cash and working capital items. The agreement provides Equinor and bp with the flexibility to pursue their respective priorities under...

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Exco Technologies Limited 2023 Annual Meeting Results

TORONTO, Jan. 25, 2024 (GLOBE NEWSWIRE) — Exco Technologies Limited (TSX-XTC) announced voting results from its 2023 annual meeting of shareholders held on January 24, 2024. A total of 25,764,482 Common Shares or 66.27% of our issued and outstanding Common Shares, were voted in connection with the meeting. Based on proxies received prior to the meeting, each director nominee was elected by a substantial majority as follows:  VotesFor VotesWithheld/AgainstEdward H. Kernaghan 95.2 % 4.8 %Darren M. Kirk 99.1 % 0.9 %Robert B. Magee 99.5 % 0.5 %Colleen M. McMorrow 99.5 % 0.5 %Brian A. Robbins 96.2 % 3.8 %         Full results of the votes are included as Appendix A to this press release. Exco Technologies Limited is a global supplier of innovative technologies servicing the die-cast, extrusion and automotive...

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