Latest news with #executivemanagement
Yahoo
09-08-2025
- Business
- Yahoo
First National Bank Alaska announces unaudited results for second quarter 2025
ANCHORAGE, Alaska, Aug. 08, 2025 (GLOBE NEWSWIRE) -- First National Bank Alaska's (OTCQX:FBAK) net income for the second quarter of 2025 was $18.4 million, or $5.80 per share. This compares to a net income of $15.6 million, or $4.94 per share, for the same period in 2024. 'Return on Assets is 1.46% at June 30, 2025, showing improvement over each of the last five quarters,' said First National Board Chair and CEO/President Betsy Lawer. 'The bank's net interest margin of 3.69% reflects the execution of new high-quality loans and, combined with diligent expense management, has our second quarter net income demonstrating the strength of the strategies developed by our board and executive management team, as well as the excellence of our 600-plus employees.' Loans totaled $2.6 billion as of June 30, 2025, an increase of $200.1 million compared to June 30, 2024. Nonperforming loans were $9.8 million, 0.38% of outstanding loans, an increase of $5.1 million from June 30, 2024. The year-to-date provision for credit losses totaled $2.2 million as of June 30, 2025, compared to $1.3 million as of June 30, 2024, due to loan growth. The allowance for credit losses as of June 30, 2025 totaled $20.0 million, or 0.77% of total loans. Total interest and loan fee income in the second quarter was $57.0 million, a 0.7% increase from $56.6 million compared to the second quarter of 2024. Interest and fees on loans increased $4.0 million while interest and dividends on investment securities decreased $2.9 million for quarter ending June 30, 2025 compared to June 30, 2024 on asset mix change year-over-year. Interest income to average earning assets increased to 4.67% compared to 4.40% as of June 30, 2024. Assets totaled $4.9 billion as of June 30, 2025, decreasing $192.3 million compared to June 30, 2024, primarily due to the repayments under the Federal Reserve Bank Term Funding Program during 2024. Return on assets as of June 30, 2025, increased to 1.46%, thirty-eight basis points higher than June 30, 2024, due to strong net income performance during 2025. Total interest expense for the second quarter was $11.8 million, down $4.7 million from $16.5 million compared to the second quarter of 2024, and includes $3.8 million interest incurred on borrowed funds in 2024. Deposits and repurchase agreements totaled $4.3 billion on both June 30, 2025 and June 30, 2024, with corresponding interest expense declining $0.9 million for the second quarter June 30, 2025 as compared to June 30, 2024. Interest expense to average earning assets decreased to ninety-eight basis points compared to 1.42% as of June 30, 2024. Net interest margin through June 30, 2025, was 3.69% compared to 2.98% for June 30, 2024. Noninterest operating income for second quarter 2025 was $7.4 million, and remains consistent with second quarter 2024. Noninterest expenses for second quarter 2025 increased $1.4 million compared to the same period in 2024, primarily due to an increase in salaries and benefits driven by the rising cost of health care. The efficiency ratio for June 30, 2025, was 50.58% and remains better than First National's peer groups, both in Alaska and across the nation. Shareholders' equity was $550.1 million as of June 30, 2025, compared to $485.2 million as of June 30, 2024. This $64.9 million increase resulted from a decrease in the net unrealized loss position of the securities portfolio and net income retained in excess of dividends paid. Return on equity as of June 30, 2025 was 13.53%, compared to 12.30% as of June 30, 2024. Book value per share increased to $173.71, compared to $153.20 as of June 30, 2024. The bank's June 30, 2025 Tier 1 leverage capital ratio of 11.95% remains above well-capitalized standards. ABOUT FIRST NATIONAL BANK ALASKA Alaska's community bank since 1922, First National Bank Alaska proudly meets the financial needs of Alaskans with ATMs and 28 locations in 19 communities throughout the state, and by providing banking services to meet their needs across the nation and around the world. For more than a century, the bank has been committed to supporting the communities it serves. In 2024, for the eighth consecutive reporting period, over a span of twenty-four years, First National received an Outstanding Community Reinvestment Act performance rating from the Office of the Comptroller of the Currency. In 2025, Alaska Business readers voted First National 'Best of Alaska Business' in the Best Place to Work category for the 10th year in a row, Best Bank/Credit Union for the fifth time, and Best Customer Service for the second year in a row. That year, Forbes also selected First National as the sixth best bank on their America's Best Banks list and one of the top two Banks in the State, and Newsweek recognized the bank as one of the nation's Best Regional Banks and Credit Unions. The bank was also voted 'Best of Alaska' in 2024 in the Anchorage Daily News awards, ranking as one of the top three in the Bank/Financial category for the sixth year in a row. American Banker again recognized First National as a 'Best Bank to Work For' in 2024, for the seventh consecutive year. First National Bank Alaska is a Member FDIC, Equal Housing Lender, and recognized as a Minority Depository Institution by the Office of the Comptroller of the Currency, as it is majority-owned by women. Contact Corporate Communications907-777-3409 Financial Overview (Unaudited) Quarter Ended ($ in thousands) 6/30/2025 3/31/2025 12/31/2024 9/30/2024 6/30/2024 Balance Sheet Total Assets $ 4,923,803 $ 4,890,081 $ 4,997,767 $ 5,557,306 $ 5,116,066 Total Securities $ 1,859,645 $ 1,882,332 $ 1,928,625 $ 2,602,519 $ 2,197,788 Total Loans $ 2,591,713 $ 2,607,081 $ 2,469,935 $ 2,445,596 $ 2,391,593 Total Deposits $ 3,586,204 $ 3,580,147 $ 3,679,155 $ 3,728,181 $ 3,698,631 Repurchase Agreements $ 731,808 $ 716,908 $ 743,193 $ 647,043 $ 615,096 Total Deposits and Repurchase Agreements $ 4,318,012 $ 4,297,055 $ 4,422,348 $ 4,375,224 $ 4,313,727 Total Borrowing under the Federal Reserve Bank Term Funding Program $ - $ - $ - $ 249,868 $ 249,868 Unrealized Loss on Marketable Securities, Net of Tax $ (40,193 ) $ (49,465 ) $ (62,985 ) $ (52,020 ) $ (86,857 ) Total Shareholders' Equity $ 550,135 $ 535,148 $ 516,562 $ 527,864 $ 485,167 Income Statement Total Interest and Loan Fee Income $ 56,999 $ 55,863 $ 63,262 $ 64,421 $ 56,593 Total Interest Expense $ 11,842 $ 11,956 $ 18,591 $ 21,319 $ 16,521 Provision for Credit Losses $ 631 $ 1,535 $ (118 ) $ (432 ) $ 318 Total Noninterest Operating Income $ 7,363 $ 6,910 $ 7,178 $ 7,487 $ 7,361 Net Gains on Investment Securities $ - $ - $ 10 $ - $ 208 Total Noninterest Expense $ 27,083 $ 25,334 $ 27,696 $ 25,928 $ 25,637 Provision for Income Taxes $ 6,423 $ 6,214 $ 4,350 $ 7,099 $ 6,039 Net Income $ 18,383 $ 17,734 $ 19,931 $ 17,994 $ 15,647 Earnings per Common Share $ 5.80 $ 5.60 $ 6.29 $ 5.68 $ 4.94 Dividend per Common Share $ 4.00 $ 4.00 $ 6.40 $ 3.20 $ 3.20 Financial Measures Return on Assets 1.46 % 1.42 % 1.22 % 1.15 % 1.08 % Return on Equity 13.53 % 13.49 % 13.60 % 12.90 % 12.30 % Net Interest Margin 3.69 % 3.63 % 3.12 % 3.04 % 2.98 % Interest Income to Average Earning Assets 4.67 % 4.61 % 4.57 % 4.51 % 4.40 % Interest Expense to Average Earning Assets 0.98 % 0.98 % 1.45 % 1.47 % 1.42 % Efficiency Ratio 50.58 % 49.70 % 53.51 % 53.59 % 54.94 % Capital Shareholders' Equity/Total Assets 11.17 % 10.94 % 10.34 % 9.50 % 9.48 % Tier 1 Leverage Ratio 11.95 % 11.72 % 10.54 % 10.39 % 11.12 % Regulatory Well Capitalized Minimum Ratio - Tier 1 Leverage Ratio 5.00 % 5.00 % 5.00 % 5.00 % 5.00 % Tier 1 (Core) Capital $ 590,328 $ 584,613 $ 579,547 $ 579,884 $ 572,024 Credit Quality Nonperforming Loans and OREO $ 9,802 $ 4,243 $ 4,313 $ 4,186 $ 4,731 Nonperforming Loans and OREO/Total Loans 0.38 % 0.16 % 0.17 % 0.17 % 0.20 % Nonperforming Loans and OREO/Tier 1 Capital 1.66 % 0.73 % 0.74 % 0.72 % 0.83 % Allowance for Loan Losses $ 20,025 $ 19,500 $ 18,025 $ 18,550 $ 19,000 Allowance for Loan Losses/Total Loans 0.77 % 0.75 % 0.73 % 0.76 % 0.79 % Net interest margin, yields, and efficiency ratios are tax effected. Financial measures are year-to-date. Per common share amounts are not in thousands.
Yahoo
29-07-2025
- Business
- Yahoo
Castle Biosciences to Present at the Canaccord Genuity 45th Annual Growth Conference
FRIENDSWOOD, Texas, July 29, 2025 (GLOBE NEWSWIRE) -- Castle Biosciences, Inc. (Nasdaq: CSTL), a company improving health through innovative tests that guide patient care, today announced that its executive management is scheduled to present a company overview at the Canaccord Genuity 45th Annual Growth Conference on Tuesday, Aug. 12, 2025, at 12:30 p.m. Eastern time. A live audio webcast of the Company's presentation will be available by visiting Castle Biosciences' website at A replay of the webcast will be available following the conclusion of the live broadcast. About Castle BiosciencesCastle Biosciences (Nasdaq: CSTL) is a leading diagnostics company improving health through innovative tests that guide patient care. The Company aims to transform disease management by keeping people first: patients, clinicians, employees and investors. Castle's current portfolio consists of tests for skin cancers, Barrett's esophagus and uveal melanoma. Additionally, the Company has active research and development programs for tests in these and other diseases with high clinical need, including its test in development to help guide systemic therapy selection for patients with moderate-to-severe atopic dermatitis seeking biologic treatment. To learn more, please visit and connect with us on LinkedIn, Facebook, X and Instagram. DecisionDx-Melanoma, DecisionDx-CMSeq, i31-SLNB, i31-ROR, DecisionDx-SCC, MyPath Melanoma, TissueCypher, DecisionDx-UM, DecisionDx-PRAME and DecisionDx-UMSeq are trademarks of Castle Biosciences, Inc. Investor Contact:Camilla Zuckeroczuckero@ Media Contact:Allison Marshallamarshall@ Source: Castle Biosciences while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
02-06-2025
- Business
- Yahoo
TCM Group A/S: Change in executive management – TCM Group starts process of finding new CFO
COMPANY ANNOUNCEMENT No. 210/2025 Tvis, 2 June 2025 Change in executive management – TCM Group starts process of finding new CFO. Thomas Hjannung has decided to step down as CFO in TCM Group to pursue new opportunities outside TCM Group and the kitchen industry. CEO Torben Paulin:'I would like to thank Thomas for his contribution to TCM. Thomas will step down as CFO no later than November 30, 2025, or when a successor has been appointed, and he will assist in ensuring a smooth transition to his successor. The process of finding a successor for the CFO position will now be initiated.' For further information please contact:Torben Paulin, CEO, TCM Group A/S, +45 21 21 04 64IR Contact – ir@ About TCM Group TCM Group is Scandinavia's third largest manufacturer of kitchens and furniture for bathrooms and storage. The products are designed and produced in Denmark and rooted in a proud tradition of good quality and good craftsmanship. TCM Group pursues a multi-brand strategy, under which the main brand is Svane Køkkenet and the other brands are Tvis Køkken, Nettoline and AUBO. Combined, the brands cater for the entire price spectrum, and are sold through c. 220 dealers in Denmark and the rest of the Scandinavia. TCM Group sells private label kitchens through DIY stores in Denmark and independent kitchen stores in Norway. TCM Group is supplier to the 45% owned e-commerce kitchen business Celebert, which operates under the brands Celebert and Just Wood. See for more information. Attachment 210. Change in executive managementError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Zawya
13-05-2025
- Business
- Zawya
Bahrain Flour Mills Company announces Q1 financial results
Bahrain - The board of directors of Bahrain Flour Mills Company (Al-Matahin) held their meeting yesterday, chaired by chairman Basim Al Saie. The board took a number of decisions, including the approval of the company's financial statements for the three months ended 31 March 2025. Mr Al Saie extended his sincere thanks and gratitude to the board of directors, the executive management and all company employees for their support and continuous endeavour to achieve the best results, wishing Al-Matahin further progress and prosperity. Bahrain Flour Mills company announced its financial results for the three months ended March 31. The company incurred a net loss for the period of BD297,874, compared to a net profit of BD597,147 for the same period of 2024. The reasons for the loss of the first quarter of the year 2025 in comparison to the same period of 2024 is attributed to the decrease in fair value of investment, increase in assets depreciation, in addition to, new plant lease provisions. Basic and diluted losses per share for the first quarter decreased to a loss of 12 fils compared with 24.05 fils profit in the same period of 2024. The company also incurred an operating loss during the first quarter of the year 2025 of BD32,175 compared to an operating profit of BD126,238 for the same period in 2024. The operating loss derived from the depreciation of the new production line and the new leased land amortization reserved for the planned new mill plant. With regards to sales, the company achieved BD1,940,755 for the first quarter of 2025, compared to BD2,210,812 for the same period in 2024, with a decrease of 12pc due to low demand on uncontrolled flour products and decrease in bran production. The company's total equity decreased by 4pc to BD25,920,102 compared with BD26,863,596 recorded as of December 31, 2024. The total assets for the period reached BD42,844,064 compared to BD39,713,717 in the year 2024, with an increase of 8pc. Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
