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Business Wire
a day ago
- Business
- Business Wire
Earnings Release – Redwood Capital Bancorp – Second Quarter, 2025
EUREKA, Calif.--(BUSINESS WIRE)--On July 30, 2025, REDWOOD CAPITAL BANCORP (OTCQX:RWCB), the only locally owned and operated community bank holding company in Humboldt County, announced unaudited financial results for the three month period ended June 30, 2025. John Dalby, President and CEO, remarked, "In the second quarter of 2025, the company maintained its strong balance sheet and high-quality loan portfolio, supported by healthy capital and liquidity positions. Earnings per share were $0.56 for the quarter and $1.15 year-to-date. The Redwood Capital Bank team continue to serve our customers, community and shareholders with excellence, which has always been the impetus of our success.' The company posted modest growth in the balance sheet during the second quarter 2025. As of June 30, 2025, the company's total assets were $549.8 million, an increase of 6% from the prior quarter and 6% from the same period last year. Total loans net of unearned income was $382.3 million as of June 30, 2025. Total deposits were $489.7 million as of June 30, 2025. The continued high performing balance sheet produced net interest income of $4.7 million for the second quarter ending June 30, 2025, and $12 million year-to-date. For the second quarter ending June 30, 2025, the company recorded net income after taxes of $1.1 million and $2.3 million year-to-date. These strong earnings have increased book value per share by 1% or $0.38 to $27.21 for the second quarter ending June 30, 2025, and an increase to book value of $1.38 year-to-date. Renee Byers, SVP/Chief Financial Officer, stated, 'Redwood Capital Bank continues to provide excellent products and services, while contributing to our local community.' Additionally, the Board of Directors declared a quarterly cash dividend of $0.09 per share, payable on August 8, 2025, to shareholders of record at the close of business on July 28, 2025. The dividend is equivalent to an annual rate of $0.36 per share. CEO Dalby added, 'Redwood Capital Bancorp continues to provide consistent earnings for our shareholders while remaining an economic foundation for the community.' For more information regarding Redwood Capital Bancorp, please visit our website at contact Renee Byers, CFO, at (707) 444-9849, or stop by our headquarters and main office at 402 'G' Street, Eureka, CA 95501. Redwood Capital Bancorp (OTCQX:RWCB) trades on the OTCQX Best Market. Companies meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws and have a professional third-party sponsor introduction. Investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on This press release may contain forward-looking statements that are subject to risks and uncertainties. Such risks and uncertainties may include but are not necessarily limited to fluctuations in interest rates, inflation, government regulations and general economic conditions, and competition within the business areas in which the Bank is conducting its operations, including the real estate market in California and other factors beyond the Bank's control. Such risks and uncertainties could cause results for subsequent interim periods or for the entire year to differ materially from those indicated. Readers should not place undue reliance on the forward-looking statements, which reflect management's view only as of the date hereof. The Bank undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances. Redwood Capital Bancorp Selected Consolidated Financial Results - Unaudited (In Thousands) Period Ended % 3/31/2025 Change Balance Sheet Data (at period end) Total assets $ 549,823 $ 519,389 6 % Total deposits 489,770 461,146 6 % Total loans (net) 382,251 383,033 0 % Common equity 53,706 52,446 2 % Common shares outstanding 1,974,071 1,954,627 1 % Summary of Operations (Current Quarter) Interest income 6,083 5,983 2 % Interest expense 1,345 1,311 3 % Net Interest Income 4,738 4,672 1 % Non-interest income 752 819 -8 % Non-interest expense 4,044 3,922 3 % Net Income before provision 1,446 1,569 -8 % Provision for loan losses (90 ) (17 ) >-100% Income before taxes 1,536 1,586 -3 % Income taxes/(credit) 421 436 -3 % Net Income 1,115 1,150 -3 % Earnings per common share (fully diluted) $ 0.56 $ 0.59 -4 % Book value per common share $ 27.21 $ 26.83 1 % Period Ended % 6/30/2025 6/30/2024 Change Balance Sheet Data (at period end) Total assets $ 549,823 $ 520,378 6 % Total deposits 489,770 460,814 6 % Total loans (net) 382,251 383,123 0 % Common equity 53,706 47,847 12 % Common shares outstanding 1,974,071 1,960,374 1 % Summary of Operations (Current Quarter) Interest income 6,083 5,444 12 % Interest expense 1,345 1,126 19 % Net Interest Income 4,738 4,318 10 % Non-interest income 752 1,055 -29 % Non-interest expense 4,044 3,143 29 % Net Income before provision 1,446 2,230 -35 % Provision for loan losses -90 137 >-100% Income before taxes 1,536 2,093 -27 % Income taxes 421 541 -22 % Net Income 1,115 1,552 -28 % Earnings per common share (fully diluted) $ 0.56 $ 0.79 -29 % Book value per common share $ 27.21 $ 24.41 11 % Expand
Cision Canada
a day ago
- Business
- Cision Canada
Quarterhill to Announce Q2 2025 Financial Results
TORONTO, July 30, 2025 /CNW/ - Quarterhill Inc. ("Quarterhill") (TSX: QTRH) (OTCQX: QTRHF) will release its financial results for the three and six months ended June 30, 2025, on Wednesday, August 13, 2025. Chuck Myers, CEO, and David Charron, CFO, will host a conference call and audio webcast at 10:00 a.m. ET the same day. Webcast Information Traditional Dial-in Information To access the call from the U.S. and Canada, dial 1.888.699.1199 (Toll Free) To access the call from other locations, dial 1.416.945.7677 (International) Rapidconnect To instantly join the conference call by phone, please use the following URL to easily register and be connected into the conference call automatically: Telephone Replay Telephone replay will be available from August 13, 2025, until August 20, 2025, at: 1.888.660.6345 (Toll Free North America) or 1.289.819.1450. Conference ID: 30578 and Replay Passcode: 30578 # About Quarterhill Quarterhill is a leading provider of tolling and enforcement solutions in the Intelligent Transportation System (ITS) industry. Our goal is technology-driven global leadership in ITS, via organic growth of our tolling and enforcement businesses, and by continuing an acquisition-oriented investment strategy that capitalizes on attractive growth opportunities within ITS and its adjacent markets. Quarterhill is listed on the TSX under the symbol QTRH and on the OTCQX Best Market under the symbol QTRHF. For more information: SOURCE Quarterhill Inc.
Business Wire
01-07-2025
- Business
- Business Wire
Redwood Capital Bancorp Announces Stock Repurchase Program
EUREKA, Calif.--(BUSINESS WIRE)--REDWOOD CAPITAL BANCORP (the 'Company') (OTCQX:RWCB), the only locally owned and operated community bank holding company in Humboldt County, announced that its Board of Directors recently approved a program under which the Company may repurchase up to $1 million worth of the Company's outstanding shares of common stock (the 'Stock Repurchase Program'). The Company's Stock Repurchase Program is effective July 1, 2025 and will remain in effect until September 30, 2025, subject to the earlier termination or extension of the Stock Repurchase Program by the Board of Directors, or when the $1 million designated for the Stock Repurchase Program are depleted. This is the Company's first Stock Repurchase Program. John E. Dalby, President and CEO, stated, 'The Stock Repurchase Program reflects the Board of Directors' commitment to enhancing shareholder value. The Stock Repurchase Program is reflective of the Company's strong capital position, liquidity for our shareholder base and the long-term value of our Company.' Shares may be repurchased in open market or private transactions and will be conducted pursuant to any trading plan that may be adopted in accordance with limitations set forth in Rule 10b5-1 promulgated by the Securities and Exchange Commission. The repurchase program may be suspended, terminated or modified at any time for any reason, including market conditions, the cost of repurchasing shares, the availability of alternative investment opportunities, liquidity, and other factors deemed appropriate. These factors may also affect the timing and amount of share repurchases. The repurchase program does not obligate the Company to purchase any particular number of shares. Funding for the Stock Repurchase Program will primarily come from the Company's existing internal funds, with additional support from dividends received from Redwood Capital Bank (the 'Bank'), the Company's wholly owned subsidiary, as needed. The implementation of the repurchase will also adhere to all relevant federal and state securities laws, thereby ensuring compliance with the regulatory framework. For further information, please contact our market maker responsible for this 10b5-1 Stock Repurchase Program: Joey Warmenhoven, CEO JWTT, Inc. Office: (971) 323-0700 For more information regarding Redwood Capital Bancorp, please visit our website at contact Renee Byers, CFO, at (707) 444-9849, or stop by our headquarters and main office at 402 'G' Street, Eureka, CA 95501. Redwood Capital Bancorp (OTCQX:RWCB) trades on the OTCQX Best Market. Companies meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws and have a professional third-party sponsor introduction. Investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on This press release may contain forward-looking statements that are subject to risks and uncertainties. Such risks and uncertainties may include but are not necessarily limited to fluctuations in interest rates, inflation, government regulations and general economic conditions, and competition within the business areas in which the Bank is conducting its operations, including the real estate market in California and other factors beyond the Bank's control. Such risks and uncertainties could cause results for subsequent interim periods or for the entire year to differ materially from those indicated. Readers should not place undue reliance on the forward-looking statements, which reflect management's view only as of the date hereof. The Bank undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances.
Business Wire
27-06-2025
- Business
- Business Wire
CoastalSouth Bancshares, Inc. Announces Uplist to New York Stock Exchange
ATLANTA--(BUSINESS WIRE)--CoastalSouth Bancshares, Inc. (OTCQX: COSO) ('CoastalSouth' or 'Company'), a Georgia corporation and the bank holding company for Coastal States Bank, a wholly-owned subsidiary and a South Carolina state-chartered commercial bank, announced today that its shares of common stock have been approved for listing on the New York Stock Exchange ('NYSE'). The Company expects that its common stock will begin trading on the NYSE under the symbol, 'COSO,' at the opening of trading on or about July 2, 2025, subject to continued compliance with the exchange rules. The Company expects that its shares of common stock will continue to trade on the OTC Markets' OTCQX Best Market until the close of the market on or about July 1, 2025. Upon effectiveness of the listing on the NYSE, trading of the common stock on the OTCQX will terminate. Stockholders of the Company do not need to take any action prior to the listing of the Company's shares on the NYSE. This communication does not constitute an offer, or a solicitation of an offer, to buy or sell any securities, investment or other specific product, or a solicitation of any vote or approval, nor shall there be any sale of securities, investment or other specific product in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. About CoastalSouth Bancshares CoastalSouth Bancshares, Inc. is a bank holding company headquartered in Atlanta, Georgia. Through our wholly owned subsidiary, Coastal States Bank, a South Carolina state-chartered commercial bank, we offer a full range of banking products and services designed for businesses, real estate professionals, and consumers looking for a deep and meaningful relationship with their bank. Coastal States Bank has a community banking presence in the Lowcountry of South Carolina (Hilton Head Island, Bluffton and Beaufort), Savannah, and the Atlanta Metropolitan market, and serves communities across the country through its Government Guaranteed Lending, Senior Housing, Marine Lending, and Mortgage Banker Finance lines of business. At present, COSO has approximately $2.2 billion in total assets. To learn more visit Forward-Looking Statements: This press release contains statements that constitute 'forward-looking statements.' The statements in this press release that are not purely historical are forward-looking statements which involve risks and uncertainties. This document specifically contains forward-looking statements regarding the expected listing on the NYSE, enhanced visibility of our company, expansion of our investor base, and enhanced liquidity of our shares of common stock. In evaluating these forward-looking statements, you should consider various factors, including our ability to keep pace with new technology and changing market needs; our ability to finance our current business and proposed future business; and the competitive environment of our business, as well as the performance of the stock market in general. Actual future performance outcomes and results may differ materially from those expressed in forward-looking statements. Forward-looking statements are subject to numerous conditions, many of which are beyond CoastalSouth's control, including those set forth in the Risk Factors section of CoastalSouth's Form S-1 filed with the Securities and Exchange Commission (the 'SEC') on June 6, 2025 and as amended on June 24, 2025, as well as any other SEC filings, as amended or updated from time to time. Copies of CoastalSouth's filings with the SEC are available on the SEC's website at CoastalSouth undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Yahoo
06-06-2025
- Business
- Yahoo
Neo Performance Materials stock surges on buyback plan
-- Shares of Neo Performance Materials Inc (TSX:NEO) climbed 7.1% following the announcement of a Normal Course Issuer Bid (NCIB) and the commencement of trading on the OTCQX market. The Toronto-based company, specializing in advanced rare earth materials, revealed that the Toronto Stock Exchange (TSX) has accepted its notice to repurchase up to 3,297,296 of its common shares, representing approximately 10% of the public float as of May 30, 2025. The buyback program is set to begin on June 11, 2025, and will extend until June 10, 2026, or until the bid is complete. Purchases will be made through the facilities of the TSX or alternative Canadian trading systems, with the price paid being the market price at the time of purchase. Shares acquired under the bid will be cancelled, potentially benefiting remaining shareholders by increasing their equity interest in the company. Neo Performance Materials believes that its shares have been trading at prices that do not fully reflect the company's value in relation to its business and future prospects. The company's management considers the repurchase of shares an attractive investment and a means to deliver value to its shareholders. In addition to the share buyback announcement, Neo has also commenced trading on the OTCQX Best Market under the symbol "NOPMF" on the same day. The OTCQX Best Market is the top tier of OTC Markets, which includes 12,000 U.S. and global securities. This move is expected to improve visibility and access for U.S. investors and comes as part of Neo's efforts to expand its shareholder base and support the growing demand for critical materials used in electrification and modern technologies. Neo's CEO, Rahim Suleman, commented on the company's strategic developments, stating, "We are pleased to begin trading on OTCQX, which enhances Neo's visibility and accessibility for U.S. investors. As a global leader in advanced rare earth materials, with a strong balance sheet and a growing magnetics business in Europe, we are well-positioned to support the accelerating demand for critical materials in electrification and other modern technologies. Trading on OTCQX provides an additional platform to broaden our shareholder base as we continue to execute on our strategic priorities and drive long-term value." Related articles Neo Performance Materials stock surges on buyback plan U.S. Treasury, Commerce secretaries and Trade Representative to meet Chinese reps BofA sees termination of Owens–Rotech deal as surprising but potentially positive Error 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
