Latest news with #creditloss
CTV News
3 days ago
- Business
- CTV News
Laurentian Bank reports $32 million second quarter profit
A Laurentian Bank sign is seen in Montreal, Friday, Aug. 30, 2024. THE CANADIAN PRESS/Christinne Muschi MONTREAL — Laurentian Bank of Canada says it had a net income of $32.3 million in the second quarter compared with a net loss of $117.5 million in the same quarter last year. The Montreal-based bank says earnings worked out to 69 cents per share for the quarter ending April 30, compared with a lost of $2.71 a share last year. Laurentian says total revenue for the quarter was $242.5 million, down from $252.6 million last year. Chief executive Éric Provost says the bank is satisfied with progress so far as it marks a year into its strategic plan, but that there's still more work to do. The bank says its adjusted net income came to $34 million, or 73 cents per share, down from $40.5 million, or 90 cents per share in the same quarter last year. The bank's provisions for credit loss totalled $16.7 million in the quarter, down from $17.9 million in the same quarter last year. This report by The Canadian Press was first published May 30, 2025.
Associated Press
08-05-2025
- Business
- Associated Press
The Bancorp, Inc. Deadline Approaching: Kessler Topaz Meltzer & Check, LLP Reminds The Bancorp, Inc. Investors of Deadline in Securities Fraud Class Action Lawsuit
RADNOR, PA - May 8, 2025 ( NEWMEDIAWIRE ) - The law firm of Kessler Topaz Meltzer & Check, LLP ( ) informs investors that a securities class action lawsuit has been filed against The Bancorp, Inc. ('Bancorp') ( NASDAQ: TBBK ) on behalf of those who purchased or otherwise acquired Bancorp securities between January 25, 2024, and March 4, 2025, inclusive (the 'Class Period'). The lead plaintiff deadline is May 16, 2025. CONTACT KESSLER TOPAZ MELTZER & CHECK, LLP: If you suffered Bancorp losses, you may CLICK HERE or copy and paste the following link into your browser: You can also contact attorney Jonathan Naji, Esq. by calling (484) 270-1453 or by email at [email protected]. DEFENDANTS' ALLEGED MISCONDUCT: The complaint alleges that, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Bancorp had underrepresented the significant risk of default or loss on its real estate bridge loans portfolio; (2) Bancorp's current expected credit loss methodology was insufficient to account for the provision and/or allowance of credit losses; (3) as a result, Bancorp was reasonably likely to increase its provision for credit losses; (4) there were material weakness in Bancorp's internal control over financial reporting; (5) Bancorp's financial statements had not been approved by its independent auditor; (6) as a result of the foregoing, Bancorp's financial statements could not be relied upon; and (7) that, as a result of the foregoing, Defendants' positive statements about the company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. THE LEAD PLAINTIFF PROCESS: Bancorp investors may, no later than May 16, 2025, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. Kessler Topaz Meltzer & Check, LLP encourages Bancorp investors who have suffered significant losses to contact the firm directly to acquire more information. CLICK HERE TO SIGN UP FOR THE CASE OR GO TO: ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP: Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country and around the world. The firm has developed a global reputation for excellence and has recovered billions of dollars for victims of fraud and other corporate misconduct. All of our work is driven by a common goal: to protect investors, consumers, employees and others from fraud, abuse, misconduct and negligence by businesses and fiduciaries. The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP please visit CONTACT: Kessler Topaz Meltzer & Check, LLP Jonathan Naji, Esq. (484) 270-1453 280 King of Prussia Road Radnor, PA 19087 [email protected] May be considered attorney advertising in certain jurisdictions. Past results do not guarantee future outcomes.
