Day: April 25, 2024

VANCOUVER, Wash., April 25, 2024 (GLOBE NEWSWIRE) — Riverview Bancorp, Inc. (Nasdaq GSM: RVSB) (“Riverview” or the “Company”) today announced that late in the fourth fiscal quarter of 2024 it strategically restructured a portion of its balance sheet by selling approximately $46.2 million of its investment securities portfolio and utilizing the proceeds totaling $43.5 million from the sale of these lower-yielding investment securities to repay higher-cost Federal Home Loan Bank of Des Moines (“FHLB”) advances. The total pre-tax loss of this transaction was $2.7 million, with a tax benefit of $655,000, resulting in an after-tax impact of $2.1 million, or $0.10 per diluted share impact to diluted earnings per share. “Given the challenging interest rate environment, we believed it was prudent to take this opportunity to restructure...

IOWA CITY, Iowa, April 25, 2024 (GLOBE NEWSWIRE) — MidWestOne Financial Group, Inc. (Nasdaq: MOFG) (“we”, “our”, or the “Company”) today reported results for the first quarter of 2024. First Quarter 2024 Summary1Completed acquisition of Denver Bankshares, Inc. (“DNVB”), the related core banking system conversion, and closure of the legacy MidWestOne Denver banking office. Net income of $3.3 million, or $0.21 per diluted common share.Revenue was $44.5 million, comprised of net interest income of $34.7 million and noninterest income of $9.8 million, which included a negative MSR valuation adjustment of $368 thousand. Credit loss expense of $4.7 million, which included day 1 credit loss expense of $3.2 million related to the DNVB acquisition. Noninterest Expense of $35.6 million, which included merger-related...

MALVERN, Pa., April 25, 2024 (GLOBE NEWSWIRE) — CubeSmart (NYSE: CUBE) today announced its operating results for the three months ended March 31, 2024. “Our urban markets continued their positive trends, with portfolio-leading results during the first quarter,” commented President and Chief Executive Officer Christopher P. Marr. “As we turn our attention to the summer rental season, our team is energized and our marketing campaigns are ramping up, positioning us to attract customers across all channels.” Key Highlights for the First QuarterReported diluted earnings per share (“EPS”) attributable to the Company’s common shareholders of $0.42. Reported funds from operations (“FFO”), as adjusted, per diluted share of $0.64. Same-store (598 stores) net operating income (“NOI”) decreased 1.9% year over year, driven by a 5.0% increase...

Company to Host Conference Call on Friday, April 26, 2024, at 11:00 a.m. Eastern Daylight Time HENDERSON, Nev., April 25, 2024 (GLOBE NEWSWIRE) — Employers Holdings, Inc. (the “Company”) (NYSE:EIG), a holding company with subsidiaries that are specialty providers of workers’ compensation insurance and services focused on small and select businesses engaged in low-to-medium hazard industries, today reported financial results for its first quarter ended March 31, 2024. Financial Highlights: (All comparisons vs. the first quarter of 2023).Net income per diluted share increased 29%, from $0.86 to $1.11; Adjusted net income per diluted share increased 12%, from $0.60 to $0.67; Gross premiums written increased 8%, from $194.9 million to $210.9 million; Net premiums earned increased 7%, from $172.7 million to $184.9 million; Net...

HOLLAND, Mich., April 25, 2024 (GLOBE NEWSWIRE) — Macatawa Bank Corporation (NASDAQ: MCBC), the holding company for Macatawa Bank (collectively, the “Company”), today announced its results for the first quarter 2024.Net income of $9.8 million in first quarter 2024 – a decrease from $12.0 million earned in first quarter 2023 and an increase from $9.5 million earned in fourth quarter 2023 Net interest margin of 3.26% in first quarter 2024 versus 3.44% in first quarter 2023 and 3.28% in fourth quarter 2023 Continued loan portfolio growth – $3.8 million, or 1.1% annualized growth rate, for first quarter 2024, and $121.3 million, or 9.9%, in the last 12 months Deposit portfolio balances decreased $131.3 million in the first quarter 2024 due to seasonal fluctuations in municipal and business deposits Strong credit quality metrics – non-performing...

VERO BEACH, Florida, April 25, 2024 (GLOBE NEWSWIRE) — ARMOUR Residential REIT, Inc. (NYSE: ARR and ARR PRC) (“ARMOUR” or the “Company”) today announced the Company’s unaudited Q1 results and March 31, 2024 financial position. ARMOUR’s Q1 2024 ResultsGAAP net income available to common stockholders of $11.5 million or $0.24 per common share. Net interest income of $5.3 million. Expenses included $9.0 million of non-recurring professional fees related to the Special Committee internal investigation, disclosed in our most recent Annual Report on Form 10-K. Distributable Earnings available to common stockholders of $40.4 million, which represents $0.82 per common share (see explanation of this non-GAAP measure on page 4). Average interest income on interest earning assets of 4.89% and interest cost on average interest...

WYOMISSING, Pa., April 25, 2024 (GLOBE NEWSWIRE) — Gaming and Leisure Properties, Inc. (NASDAQ: GLPI) (“GLPI” or the “Company”) today announced financial results for the quarter ended March 31, 2024. Financial Highlights    Three Months Ended March 31,(in millions, except per share data)     2024       2023  Total Revenue   $ 376.0     $ 355.2  Income from Operations   $ 257.6     $ 266.8  Net Income   $ 179.5     $ 188.7  FFO (1) (4)   $ 244.4     $ 253.8  AFFO (2) (4)   $ 258.6     $ 248.6  Adjusted EBITDA (3) (4)   $ 333.4     $ 323.1  Net income, per diluted common share and OP units (4)   $ 0.64     $ 0.70  FFO, per diluted common share and OP units (4)   $ 0.87     $ 0.94  AFFO, per diluted common share and OP units (4)   $ 0.92     $ 0.92  ________________________________(1) Funds...

First Quarter 2024 Highlights:Net income available to common shareholders of $11.7 million, or $0.53 per diluted share Pre-tax, pre-provision earnings of $32.2 million Tangible book value per share increased 0.4% from prior quarter to $23.44 Common equity tier 1 capital ratio improved to 8.60% from 8.40% Net interest margin of 3.18%, compared to 3.21% in prior quarter Efficiency ratio of 58.0%, compared to 55.2% in prior quarterEFFINGHAM, Ill., April 25, 2024 (GLOBE NEWSWIRE) — Midland States Bancorp, Inc. (Nasdaq: MSBI) (the “Company”) today reported net income available to common shareholders of $11.7 million, or $0.53 per diluted share, for the first quarter of 2024, compared to $18.5 million, or $0.84 per diluted share, for the fourth quarter of 2023. This also compares to net income available to common shareholders of...