Small business owners across the nation, particularly in the Southeast, are facing heightened stress levels and concerns about inflation, as revealed by Truist's annual Small Business Pulse Survey. Scott Stearsman, the head of small business banking at Truist, noted the resilience of small businesses amid economic uncertainties, stating, "In recent years, our survey has shown the impact that economic uncertainty and high levels of stress can have on small business owners regionally and nationally."Despite expressing optimism about growth in 2024, many small business...
Bankers remain skeptical of economic outlook ARLINGTON, Va., May 1, 2024 /PRNewswire/ -- Fifty-eight percent of bankers would take action to reduce costs or increase revenue elsewhere even if exempt under a new regulatory proposal to restrict overdraft fees, according to a survey of nearly 500 financial executives released today.In a survey by liquidity management fintech IntraFi, 44% of respondents said if the plan went into effect, they would lower overdraft fees to remain competitive with larger banks, while 35% said they would alter their policies, and 27% said they...
May 1, 2024TORONTO, May 1, 2024 /PRNewswire/ - Franco-Nevada Corporation announced its financial results for the first quarter of 2024, with CEO Paul Brink highlighting the impact of gold prices on the company's performance. Brink stated, "Our diversified portfolio performed well and production for the quarter met expectations. Elevated gold prices translated directly into some of our highest ever margins."During the quarter, the company saw positive developments in its operations, with Brink noting, "Salares Norte commenced production during the quarter and Greenstone...
blueharbor bank reported a decrease in net income for the first quarter of 2024 compared to the same period in 2023. The Bank's net income was $1,336,608 and $0.44 per diluted share, a decrease of 36% from the previous year. Despite the decrease, the Bank's total assets saw an increase of $37.9 million, reaching $453.5 million at the end of March 2024.In a statement, Jim Marshall, President and Chief Executive Officer of blueharbor bank, noted, "Our balance sheet growth was acceptable given the cumulative effect rising interest rates are having on the economy. The credit...
TORONTO, May 1, 2024 /PRNewswire/ - Russel Metals Inc. (TSX: RUS) announced its financial results for the first quarter of 2024, showcasing a mix of performance indicators and market insights.The company stated, "We use a number of measures that are not prescribed by IFRS Accounting Standards ('IFRS' or 'GAAP') and as such may not be comparable to similar measures presented by other companies."Regarding earnings, Russel Metals Inc. reported, "Our basic earnings per share of $0.82 for the quarter ended March 31, 2024, was lower than the $1.19 per share recorded in the...
Etsy, Inc. Chief Executive Officer, Josh Silverman, acknowledged the challenges faced in the first quarter of 2024, stating, "Our first quarter performance, while in line with our guidance, was pressured by the challenging environment for consumer discretionary products, which continues to be a headwind to Etsy marketplace growth." Despite these challenges, Silverman expressed optimism about the future, saying, "I'm confident that leaning into our differentiators to make Etsy even more Etsy will help ensure we stand out in the sea of sameness in e-commerce."Chief...
HONG KONG, May 1, 2024 /PRNewswire/ -- MGM China Holdings Limited ("MGM China" or the "Company") has reported record-high performance and market share for the first quarter of 2024. The company announced its unaudited financial data, highlighting a strong recovery in Macau following the challenges of the past years.Kenneth Feng, President and Executive Director of MGM China, expressed pride in the company's performance, attributing it to their focus on customer service and continuous innovation. He stated, "Our outstanding performance demonstrates our deep understanding...
Group 1 Automotive, Inc. (NYSE: GPI) has announced a significant financial development on April 30, 2024. The Fortune 300 automotive retailer with 203 dealerships in the U.S. and U.K. completed a $500 million upsize in its revolving syndicated credit facility to $2.5 billion with 20 financial institutions. This credit facility will expire in March 2027 and can be further expanded to $3.0 billion.Among the lenders in the syndicated facility are six manufacturer-affiliated finance companies and 14 commercial banks. Notable names in the manufacturer-affiliated finance...
ONEOK, Inc. (NYSE: OKE) revealed its first quarter 2024 results and a boost in full-year 2024 financial guidance, citing favorable industry fundamentals and confidence in synergy expectations. According to Pierce H. Norton II, president and CEO of ONEOK, the company's performance was driven by various factors, including increased volumes in the Rocky Mountain region.Norton stated, "ONEOK generated solid results during the first quarter, supported by higher year-over-year volumes in the Rocky Mountain region and contributions from the refined products and crude segment."...
A new national consumer survey conducted by FirstClose™, Inc. has shed light on the lack of awareness among homeowners regarding the financial advantages of leveraging home equity for various purposes. According to the survey, many consumers do not fully understand how home equity can be utilized to reduce debt and improve financial stability.Tedd Smith, CEO of FirstClose, emphasized the importance of educating consumers about the benefits of leveraging home equity, stating, "The findings of this survey underscore the critical gap in consumers' understanding of the...
Marathon Petroleum Corp. (NYSE: MPC) has announced its first-quarter 2024 financial results, showcasing a net income attributable to MPC of $937 million, or $2.58 per diluted share. The company reported an $89 million charge due to stock compensation adjustments, affecting diluted earnings per share. This marks a significant difference from the first quarter of 2023, where net income stood at $2.7 billion, or $6.09 per diluted share.CEO Michael J. Hennigan expressed pride in the team's accomplishments during the quarter, stating, "In the first quarter, our team safely and...
BMO's Real Financial Progress Index reveals that 71% of aspiring homeowners are waiting for rate cuts before buying a home, up from 64% last year. Additionally, nearly one-third of prospective buyers plan to tap into their 401(k) funds to cover the costs, as reported by BMO Financial Group.Michael Gregory, Deputy Chief Economist at BMO, stated, "In light of persistent strength in the U.S. economy, as well as stubborn underlying inflation, the market has been pushing its expectation for Fed rate cuts into the autumn."Thomas Parrish, Head of U.S. Retail Lending at BMO,...
DALLAS, April 30, 2024 /PRNewswire/ -- Montgomery Capital Partners III, LP has announced a forthcoming public sale of the personal property assets of P3 Pure LLC, to be held on May 14, 2024, at 12:00 p.m. Central Standard Time. The sale will be conducted telephonically, allowing Qualified Bidders to participate in the bidding process.The sale aims to foreclose the security interest held by the Secured Party in various assets of P3 Pure, including inventory, accounts receivable, machinery and equipment, trademarks such as "Pretty Frank" and "P3 Pure," as well as other...
BEIJING, April 30, 2024 /PRNewswire/ -- Pintec Technology Holdings Limited (NASDAQ: PT) ("Pintec" or the "Company") has announced the filing of its annual report on Form 20-F for the fiscal year ended December 31, 2023, with the Securities and Exchange Commission ("SEC") on April 30, 2023 Eastern Time.The company stated, "The annual report can be accessed on the Company's investor relations website at ir.pintec.com or the SEC's website at www.sec.gov. The Company will provide hard copies of its annual report, free of charge, to its shareholders and ADS holders upon...
LAS VEGAS, April 30, 2024 /PRNewswire/ -- GBank Financial Holdings Inc. (the "Company") (OTCQX: GBFH), the parent company of GBank (the "Bank"), released its financial results for the first quarter of 2024 on April 30, 2024.The Company reported a net income of $3.7 million for the quarter ended March 31, 2024, showing growth compared to previous periods. Edward M. Nigro, Executive Chairman, highlighted the complexity of the business plan, stating, "Each quarter I comment on one or two factors that I believe most important to you, our investors and shareholders; but this...
Community Healthcare Trust Incorporated has disclosed its financial performance for the first quarter of 2024, reporting a net income of approximately $3.7 million, equivalent to $0.11 per diluted common share. The Company also revealed that Funds from operations ("FFO") and adjusted funds from operations ("AFFO") for the same period amounted to $0.53 and $0.59 per diluted common share, respectively.Specializing in owning income-producing real estate properties related to outpatient healthcare services across the United States, Community Healthcare Trust Incorporated...
Ashford Hospitality Trust, Inc. (NYSE: AHT) has disclosed its preliminary first-quarter results for 2024, highlighting key financial figures. According to the company's announcement, the preliminary estimated range of net income attributable to common stockholders for the first quarter of 2024 is approximately $66.4 million to $68.4 million, translating to $0.59 to $0.61 per share. Additionally, the range of Adjusted EBITDAre is reported to be $58.5 million to $60.5 million, with Adjusted FFO available to common stockholders and OP unitholders ranging from $(14.7) million...
Xiao-I Corporation ("Xiao-I" or the "Company") has reported its unaudited financial results for the full year ended December 31, 2023. Mr. Hui Yuan, Chairman and Chief Executive Officer of Xiao-I, expressed pride in the company's achievements, stating, "Our achievements are a testament to our commitment." He highlighted a significant 22.8% increase in net revenues, reaching $59.2 million, demonstrating the company's success in a competitive landscape and solidifying its position in the market.The year 2023 marked a milestone for Xiao-I with the introduction of the 'Hua...
CFSB Bancorp, Inc. released their fiscal third-quarter and year-to-date 2024 financial results on April 29, 2024. The Company reported a net loss of $40,000 for the three months ended March 31, 2024, as compared to a net loss of $210,000 for the previous quarter and net income of $355,000 for the same period in 2023.Michael E. McFarland, President and Chief Executive Officer of CFSB Bancorp, Inc., commented on the challenging financial environment, stating, "Liabilities continue to reprice at a faster rate than assets. These short-term rates over the last twenty-four...
ALBEMARLE, N.C., April 29, 2024 /PRNewswire/ -- Uwharrie Capital Corp (OTCQX: UWHR) and its subsidiary, Uwharrie Bank, have announced their first-quarter results for 2024. The company reported consolidated total assets of $1.10 billion at the end of March 31, 2024, showing growth from $1.07 billion at the end of December 31, 2023.According to Uwharrie Capital Corp, "During the first quarter of 2024, the Bank experienced growth in both loans and core deposits due to continued relationship development in the markets we serve." This growth contributed to the positive...