Latest news with #netincome
Wall Street Journal
an hour ago
- Automotive
- Wall Street Journal
Tesla Profit Falls, Hurt by Plunging EV Sales
Tesla's TSLA 0.14%increase; green up pointing triangle net income plunged 16% in the second quarter, marking further steep declines at the company as automotive sales continue to fall. The company's second-quarter revenue declined after a drop in automotive deliveries, which were down 13.5% from a year earlier.
Yahoo
an hour ago
- Business
- Yahoo
Churchill Downs: Q2 Earnings Snapshot
LOUISVILLE, Ky. (AP) — LOUISVILLE, Ky. (AP) — Churchill Downs Inc. (CHDN) on Wednesday reported second-quarter net income of $216.9 million. On a per-share basis, the Louisville, Kentucky-based company said it had profit of $2.99. Earnings, adjusted for one-time gains and costs, were $3.10 per share. The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $3.03 per share. The racetrack operator and gambling company posted revenue of $934.4 million in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $921.6 million. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on CHDN at Sign in to access your portfolio
Associated Press
3 hours ago
- Business
- Associated Press
Coastal Carolina Bancshares, Inc. Announces Second Quarter Results
MYRTLE BEACH, SC / ACCESS Newswire / July 23, 2025 / Coastal Carolina Bancshares, Inc. (the 'Company') (OTCQX:CCNB), parent of Coastal Carolina National Bank (the 'Bank'), reported unaudited financial results for the second quarter of 2025. The Company reported net income for the three months ended June 30, 2025, of $2,515,712 or $0.40 per share, compared to $1,956,948 or $0.31 per share for the same period in the prior year and $2,377,289 or $0.38 per share for the prior quarter ended March 31, 2025. The Company reported net income of $4,893,001 or $0.78 per share for the six months ended June 30, 2025, compared to $3,607,644 or $0.58 per share for the same period ended June 30, 2024. 2025 Second Quarter Financial Highlights • Quarterly net income of $2.5 million, an increase of 6% over the most recent linked quarter and 29% over the second quarter of 2024 • Quarterly Return on Average Equity of 12.63% • Net Interest Margin expansion to 3.59% for the quarter ended June 30, 2025 compared to 3.55% and 3.19% for the prior quarters ended March 31, 2025 and June 30, 2024, respectively • Increased book value per share and tangible book value per share to $12.80 and $12.31 at June 30, 2025 from $12.07 and $11.56 at December 31, 2024 • Quarterly deposit growth of $78 million or 7% (29% annualized) from $1,002 million at March 31, 2025 to $1,080 million at June 30, 2025 • Quarterly loan growth of $17 million or 2% (8% annualized) from $863 million at March 31, 2025 to $880 million at June 30, 2025 • Key credit quality metrics remained pristine with a non-performing assets ratio of 0.0% and no past due loans greater than 30 days Capital At June 30, 2025, the Bank's regulatory capital ratios (Leverage, Tier 1, and Total Risk-Based) were 9.09%, 11.76%, and 12.87%, respectively. Each of these ratios exceed the regulatory minimums to be considered well capitalized. The Company reported book value per share and tangible book value per share at June 30, 2025 of $12.80 and $12.31, respectively, compared to $12.57 and $12.07 at March 31, 2025. Increased book value per share during the quarter resulted from retained earnings accumulation and changes in investment market valuations during the quarter. Balance Sheet and Credit Quality Total Assets increased by 7% during the quarter and 9% during the first six months of the year to $1,187 million at June 30, 2025. Asset growth was driven by significant deposit growth during the quarter resulting in increased cash and cash equivalents and increased loan balances. The Company experienced considerable deposit growth during the quarter reporting $1,080 million in total deposits at June 30, 2025, compared to $1,002 million at March 31, 2025, an increase of $78 million or 8%. At quarter end, checking and savings accounts represented 35% of the Bank's total deposit balances while money market accounts and time deposits represented 48% and 17% of total deposits, respectively. In addition to core deposit growth, the Bank's brokered CD balances increased during the quarter from $17 million at March 31, 2025 to $25 million at June 30, 2025. President and CEO of the Company and Bank, Laurence S. Bolchoz, Jr., commented, 'The Bank's deposit growth was remarkable during the second quarter with $78 million in deposit growth. While seasonal deposit fluctuations contributed to deposit growth during the quarter, this growth reflects the hard work of our team and the daily focus we place on core deposit acquisition and retention'. Net loans increased $17 million or 2% during the second quarter, and $43 million or 5% year-to-date to $880 million at June 30, 2025. Year to data loan growth was concentrated in owner occupied CRE, non-owner occupied CRE, 1-4 family residential, and C&I lending which accounted for $13 million, $10 million, $7 million and $7 million in net growth, respectively. This growth was partially offset by a reduction in construction and land development lending of $7 million. The Company continues to report excellent asset quality metrics with no loans classified as nonaccrual, no loans past due greater than 30 days, and a non-performing asset ratio of 0.00%. There were no charge-offs during the quarter, and no outstanding OREO property at June 30, 2025. Mr. Bolchoz commented, 'The Bank continues to report exceptional credit quality metrics with no past dues, no non-accrual loans, and no OREO properties at quarter end. This is a significant accomplishment and a testament to the health of our local economies and our team's emphasis on credit quality'. Income Statement Net Interest Income Net interest income increased $0.4 million or 4% to $9.3 million for the quarter ended June 30, 2025, compared to $8.9 million during the most recent linked quarter, and increased 24% when compared to prior year's second quarter net interest income of $7.5 million. The Bank's net interest margin was 3.59% for the quarter ended June 30, 2025, compared to 3.55% for the prior quarter ended March 31, 2025 and 3.19% during the second quarter of 2024. Net interest margin expansion during the second quarter of 2025 was driven by loan growth and increased loan yields partially offset by a slight increase in the Bank's cost of funds. The Bank's yield on earning assets increased to 5.63% for the quarter ended June 30, 2025 compared to 5.54% during the most recent linked quarter, and 5.44% in the second quarter of 2024. The Bank's loan yields increased when compared to the prior quarter from 5.98% to 6.07%, while the Bank's cost of funds increased quarter over quarter from 2.14% to 2.19%. Mr. Bolchoz said, 'We are very pleased with the Bank's earnings for the second quarter of 2025 with net income increasing 6% over the most recent linked quarter and 29% when compared to the second quarter of last year. Net income improvement was driven by efficient growth and an expanding net interest margin.' Noninterest Income Noninterest income totaled $602 thousand for the quarter ended June 30, 2025, compared to $610 thousand earned during the most recent quarter ended March 31, 2025 and $558 thousand in the second quarter of 2024. Non-interest income was relatively flat quarter over quarter and consisted primarily of service charges and fees on deposit accounts, interchange and merchant fee income, mortgage sales income, and earnings from bank owned life insurance. Noninterest Expense Noninterest expense totaled $6.3 million for the quarter ended June 30, 2025, compared to $6.2 million for the prior quarter ended March 31, 2025, and $5.5 million for the comparative quarter ended June 30, 2024. Non-interest income remained relatively flat in comparison to the prior quarter with minor increases in compensation and benefits offset by reduced data processing costs. Provision for Loan Losses During the quarter the Bank recorded a provision of $480 thousand for changes in CECL allowance for credit losses. At quarter end the Bank's allowance for credit losses on loans increased to $9.3 million and the reserve on unfunded commitments increased to $470 thousand. The cumulative CECL reserve of $9.8 million was 1.11% of total loans outstanding at June 30, 2025. About Coastal Carolina Bancshares, Inc. Coastal Carolina Bancshares, Inc. is the Bank holding Company of Coastal Carolina National Bank, a Myrtle Beach-based community bank serving Horry, Georgetown, Aiken, Orangeburg, Richland, Greenville, Spartanburg, and Brunswick (NC) counties. Coastal Carolina National Bank is a locally operated financial institution focused on providing personalized service. It offers a full range of banking services designed to meet the specific needs of individuals and small and medium-sized businesses. Headquartered in Myrtle Beach, SC, the Bank also has branches in Garden City, North Myrtle Beach, Conway, Aiken, Orangeburg, Columbia, Greenville, and Spartanburg, South Carolina, and Ocean Isle Beach, North Carolina. Through the substantial experience of our local management and Board of Directors, Coastal Carolina Bancshares, Inc. seeks to enhance value for our shareholders, build lasting customer relationships, benefit our communities and give our employees a meaningful career opportunity. To learn more about the Company and its subsidiary bank, please visit our website at Forward-Looking Statements Except for historical information, all of the statements, expectations, and assumptions contained in this press release are forward-looking statements. Actual results might differ materially from those explicit or implicit in the forward-looking statements. Important factors that could cause actual results to differ materially include, without limitation: the effects of future economic conditions; governmental fiscal and monetary policies; legislative and regulatory changes; the risks of changes in interest rates; successful merger integration; management of growth; fluctuations in our financial results; reliance on key personnel; our ability to compete effectively; privacy, security and other risks associated with our business. Coastal Carolina Bancshares, Inc. assumes no obligation and does not intend to update these forward-looking statements, except as required by law. # # # Contact: Russell Vedder Title: EVP/CFO Phone: (843) 839-5662 Fax: (843) 839-5699 SOURCE: Coastal Carolina Bancshares, Inc. press release
Associated Press
7 hours ago
- Business
- Associated Press
KS Bancorp, Inc. (KSBI) Reports 41% Year to Date Increase in Net Income and Expands Footprint into Nash County, North Carolina
SMITHFIELD, NC / ACCESS Newswire / July 23, 2025 / KS Bancorp, Inc. (the 'Company') (OTCID:KSBI), parent company of KS Bank, Inc. (the 'Bank'), announced unaudited results for the second quarter of 2025. The Company reported net income of $2.2 million or $2.02 per diluted share for the three months ended June 30, 2025, compared to net income of $1.7 million or $1.50 per diluted share for the three months ended June 30, 2024. This signifies a 35% increase in net income. Year-to-date net income was $4.3 million or $3.89 per diluted share, compared to $3.1 million, or $2.75 per diluted share, for the six months ended June 30, 2024. This signifies a 41% increase in net income year to date. Net interest income before the provision for credit losses for the three months ended June 30, 2025, increased 22.8%. It was $6.9 million, compared to $5.5 million at June 30, 2024. Non-interest income for the three months ended June 30, 2025, was $1.1 million, compared to $863,000 for the comparable period ended June 30, 2024. Non-interest expense was $4.7 million for the three months ended June 30, 2025, compared to $4.1 million in the comparable period in 2024. For the six months ending June 30, 2025, net interest income before the provision for credit losses was $13.2 million, compared to $10.6 million for the six months ending June 30, 2024, which was a 28.7% increase. Non-interest income was $2.0 million for the six months ending June 30, 2025, compared to $1.7 million for the same period ended June 30, 2024. For the six months ended June 30, 2025, non-interest expenses were $9.0 million, compared to $8.1 million for the same period ending June 30, 2024. The Company's unaudited consolidated total assets increased by $36.4 million to $727.3 million as of June 30, 2025, compared to $690.9 million as of December 31, 2024. Net loan balances increased by $33.4 million to $587.9 million on June 30, 2025, compared to $554.5 million on December 31, 2024. The Company's investment securities totaled $94.5 million as of June 30, 2025, compared to $95.9 million as of December 31, 2024. Total deposits increased $43.5 million to $661.7 million as of June 30, 2025, compared to $618.2 million as of December 31, 2024. The increase in deposits included a $34.2 million increase or 6.0% in core deposits. For the six months ended June 30, 2025, short-term borrowings decreased $11.1 million. Total stockholders' equity increased $3.4 million to $48.7 million as of June 30, 2025, from $45.3 million as of December 31, 2024. As of June 30, 2025, nonperforming assets consisted of nonaccrual loans totaling $77,000 and foreclosed real estate with a value of $500,000, representing less than 0.10% of the Company's total assets. The allowance for credit losses as of June 30, 2025, totaled $4.7 million, or 0.79% of total loans. Commenting on the second quarter results, Earl W. Worley, Jr., President and CEO of the Company, stated, 'We are pleased with our continued momentum through the first half of 2025, highlighted by a 35% increase in second quarter net income compared to the prior year. This strong performance reflects steady loan growth, disciplined expense control, and a 6% rise in core deposits, all of which reinforce the strength of our balance sheet and the dedication of our team. In addition to our financial results, we were proud to open our eleventh full-service branch in Bailey, North Carolina, our first in Nash County, North Carolina. The community's warm reception affirms the value of our relationship-driven approach to banking. As we move into the second half of the year, we remain cautiously optimistic. While our fundamentals are sound and our strategic initiatives are progressing well, we recognize that ongoing economic uncertainty and future actions by the Federal Reserve may impact both interest rate trends and customer behavior. We will continue to manage risk carefully, remain flexible in our approach, and focus on delivering long-term value to our customers, communities, and shareholders.' In addition, the Company announced today that its Board of Directors has declared a quarterly dividend of $0.28 per share for stockholders of record as of August 1, 2025, with payment to be made on August 11, 2025. KS Bank continues to be well-capitalized according to regulatory standards, with a Community Bank Leverage Ratio of 9.22% as of June 30, 2025, compared to 9.24% as of December 31, 2024. KS Bancorp, Inc. is a Smithfield, North Carolina-based single-bank holding company. KS Bank, Inc., a state-chartered savings bank, is KS Bancorp's sole subsidiary. The Bank is a full-service community bank that has served the citizens of eastern North Carolina since 1924. The Bank offers a broad range of personal and business banking products and services, as well as mortgage and trust services. Eleven full-service branches are located in Kenly, Selma, Clayton, Garner, Goldsboro, Wilson, Wendell, Smithfield, Four Oaks, Dunn, and Bailey, North Carolina. For more information, visit This release contains certain forward-looking statements with respect to the financial condition, results of operations and business of the Company. These forward-looking statements involve risks and uncertainties and are based on the beliefs and assumptions of management of the Company and on the information available to management at the time that these disclosures were prepared. These statements can be identified by the use of words like 'expect,' 'anticipate,' 'estimate' and 'believe,' variations of these words and other similar expressions. Readers should not place undue reliance on forward-looking statements as a number of important factors could cause actual results to differ materially from those in the forward-looking statements. The Company undertakes no obligation to update any forward-looking statements. SOURCE: KS Bancorp, Inc. press release
Associated Press
8 hours ago
- Business
- Associated Press
Endeavor Bancorp Reports Net Income of $1.1 Million for the Second Quarter of 2025; Highlighted by Continued Loan and Deposit Growth, and NIM Expansion
SAN DIEGO, July 23, 2025 (GLOBE NEWSWIRE) -- Endeavor Bancorp (OTCQX: EDVR) (the 'Company' or 'Bancorp'), the holding company for Endeavor Bank (the 'Bank'), today reported net income of $1.07 million, or $0.25 per diluted share, for the second quarter of 2025, compared to $1.36 million, or $0.32 per diluted share, for the first quarter of 2025, and $760,000, or $0.18 per diluted share, for the second quarter of 2024. All financial results are unaudited. 'Our second quarter results reflect the strength of our core banking franchise and the disciplined execution of our strategic growth plan,' said Julie Glance, CFO. 'We continued to grow loans and deposits during the quarter while maintaining a strong net interest margin, demonstrating the resilience of our business model in an uncertain interest rate environment. Our strategic investments in talent and infrastructure are starting to deliver measurable returns, enhancing both operational efficiency and client service. As we look ahead, we remain focused on driving sustainable, profitable growth and creating long-term value for our shareholders.' Results for the second quarter of 2025 included a $746,000 provision for credit losses, reflecting continued prudent credit risk management amid a growing loan portfolio. This compared to a $385,000 provision for credit losses in the first quarter of 2025, and a $451,000 provision for credit losses in the second quarter of 2024. Excluding taxes and loan loss provisions, pretax, pre-provision net income was $2.28 million, consistent with the prior quarter's $2.33 million, and up from $1.55 million in the second quarter of 2024. Income Statement Strong first quarter earnings were driven by loan growth and earning asset rates. Total interest income on loans and bank deposits and investments was $11.6 million, an increase of $504,000 compared to the preceding quarter, while total interest expenses increased $128,000 during the same timeframe. Net interest income was $7.4 million in the second quarter of 2025, which was an increase of $376,000, or 5.4% compared to the preceding quarter and a 37.8% increase compared to the second quarter of 2024. 'Our net interest margin expanded by nine basis points in the second quarter of 2025 compared to the prior quarter, driven primarily by strong loan growth and continued improvement in our funding costs,' said Dan Yates, CEO. 'This positive trend reflects not only solid execution on the asset side of the balance sheet but also disciplined management of our deposit base in a competitive rate environment. We remain proactive in optimizing our asset-liability mix to safeguard and enhance margin performance, while maintaining prudent risk management and offering attractive pricing to our clients. As interest rate dynamics evolve, we are confident in our ability to navigate the environment effectively, positioning us to sustain earnings momentum.' The Company's net interest margin increased nine basis points to 4.21% in the second quarter of 2025 compared to 4.12% in the first quarter of 2025 and increased 51 basis points compared to 3.70% in the second quarter of 2024. The yield on total earning assets remained strong, increasing 10 basis points during the second quarter of 2025 to 6.62%, compared to 6.52% in the preceding quarter, and up from 6.33% in the second quarter of 2024. The cost of deposits decreased to 2.57% in the second quarter, compared to 2.58% in the first quarter of 2025, and down from 2.84% in the second quarter of 2024. Non-Interest income was $276,000 in the second quarter of 2025, an increase of $93,000 or 50.5% compared to the first quarter of 2025, and a decrease compared to $390,000 in the second quarter of 2024. Non-Interest expense was $5.4 million in the second quarter of 2025, an increase of $521,000 compared to the first quarter of 2025, and an increase of $1.2 million compared to the second quarter of 2024. Included in non-interest expense during the second quarter of 2025 was $263,000 in annual board compensation. In the prior year annual board compensation of $312,000 was paid during the first quarter of 2024. The higher expenses year-over-year were also due to strategic investment in staff. 'In 2024, we made strategic investments in talent, increasing our headcount by over 30%. These additions are now delivering strong returns, with revenue growth fueled by our enhanced capabilities more than offsetting the associated rise in expenses year-over-year. Our improved efficiency ratio, which declined to 70.3% during the second quarter of 2025 from 75.8% during the second quarter of 2024, further demonstrates that the team we built last year is now fully ramped and highly productive. With fewer new hires planned for the remainder of the year, we remain focused on maximizing the impact of our expanded workforce and are well positioned to drive continued earnings growth,' said Yates. The Company's annualized return on average equity for the second quarter of 2025 was 8.75%, compared to 11.68% in the first quarter of 2025 and 6.96% in the second quarter of 2024. The annualized return on average assets for the second quarter of 2025 was 0.60% compared to 0.79% in the first quarter of 2025 and 0.52% in the second quarter of 2024. The decrease compared to the prior quarter was primarily due to the previously mentioned board expense along with one-time consulting expense associated with contract renegotiation during the second quarter of 2025. Balance Sheet Total assets increased by $42.3 million, or 6.0%, during the second quarter of 2025 to $746.9 million at June 30, 2025, compared to $704.6 million at March 31, 2025, and increased $153.1 million, or 25.8%, compared to June 30, 2024. Balance sheet liquidity remains strong with cash balances of $87.4 million, which represents 11.7% of total assets as of June 30, 2025. The Company's investment securities increased $1.7 million during the second quarter of 2025 to $28.1 million as of June 30, 2025, representing 3.8% of total assets. Total available borrowing capacity through the Federal Home Loan Bank and the Federal Reserve discount window totaled $245.3 million as of quarter end. 'We are pleased with the continued progress in our deposit-gathering and lending efforts, which reflects the strength of our client relationships and the effectiveness of our strategy,' said Steve Sefton, President. 'Our team remains focused on delivering tailored financial solutions to our business clients, while maintaining disciplined underwriting and sound risk management. As we continue to deepen these relationships, we are well positioned to drive sustainable growth and long-term value.' Total loans outstanding increased $28.1 million, or 4.7%, during the second quarter of 2025 to $625.9 million at June 30, 2025, compared to $597.8 million three months earlier, and increased $142.5 million, or 29.5%, when compared to $483.4 million a year earlier. Total non-performing loans decreased to 0.32% of the total loan portfolio as of June 30, 2025, compared to 0.40% as of March 31, 2025. The Company had $421,000 in net charge-offs during the second quarter of 2025, which included one loan that had previously been reserved for. This compared to zero in net charge-offs during the preceding quarter and the year ago quarter. Total deposits increased $41.2 million, or 6.6%, during the quarter to $667.4 million at June 30, 2025, compared to $626.2 million three months earlier, and increased $149.2 million, up 28.8% when compared to $518.2 million a year earlier. The loan to deposit ratio was 93.8% at June 30, 2025, compared to 95.5% at March 31, 2025, and 92.9% as of June 30, 2024. 'We are strategically managing our balance sheet with a target loan to deposit ratio of 95% as we aim for the right balance between strong lending activity and liquidity,' added Sefton. As a result of its participation in reciprocal deposit placement networks, the Bank accepted 'reciprocal' deposits from other institutions, enabling the Bank to offer customers FDIC insurance on accounts in excess of the typical $250,000 FDIC insurance limit. Although the reciprocal deposits maintained through the network are core deposits seeking FDIC insurance, the FDIC rules indicate that reciprocal deposits aggregating over 20% of total liabilities are classified as deposits obtained by or through a deposit broker. The total reciprocal deposits reported as brokered deposits were $133.3 million at June 30, 2025, and $102.5 million as of March 31, 2025. To support strong loan growth, the Company is utilizing a conservative amount of wholesale deposits. As of June 30, 2025, total wholesale deposits, excluding the reciprocal deposits, was $56.8 million, representing 8.5% of total deposits compared to $55.7 million, or 8.9% of total deposits as of March 31, 2025. Shareholders' equity was $48.9 million at June 30, 2025, compared to $47.7 million at March 31, 2025, and $44.1 million at June 30, 2024. Tangible book value per share increased to $13.64 at June 30, 2025, compared to $13.49 three months earlier and $12.55 a year earlier. Capital The Bank's Tier 1 leverage ratio was 10.60% as of June 30, 2025, compared to 10.57% at March 31, 2025. The Tier 1 risk-based capital ratio was 10.20% as of June 30, 2025, compared to 10.47% on March 31, 2025, and the Total risk-based capital ratio was 11.37% compared to 11.65% three months earlier, all of which were well above regulatory minimums. About Endeavor Bancorp Endeavor Bancorp, the holding company for Endeavor Bank, is primarily owned and operated by Southern Californians for Southern California businesses and their owners. The bank's focus is local: local decision-making, local board, local founders, local owners, and relationships with local clients in Southern California. Headquartered in downtown San Diego in the Symphony Towers building, the Bank also operates a loan production and executive administration office in Carlsbad, as well as a branch office in La Mesa. In addition, the Bank maintains production teams throughout Southern California. Endeavor Bank provides traditional business banking services across a broad spectrum of industries and specialties. Unique to the bank is its consultative banking approach that partners our business clients with Endeavor Bank's senior management. Together, we build strategies and provide resources that solve problems, plan for the future, and help clients' efforts to grow revenues and profits. Endeavor Bancorp trades on the OTCQX® Best Market under the symbol 'EDVR.' Visit for more information. Endeavor Bank is rated by Bauer Financial as Five-Star 'Superior' for strong financial performance, the top rating given by the independent bank rating firm. awarded Endeavor Bank an A rating. EDVR Shareholders With many of our shareholders transferring their EDVR shares to their brokerage companies, along with ongoing trading taking place, Bancorp may not have the most current shareholder contact information. If you are an EDVR shareholder and would like to receive information via a more timely method, please complete the Shareholder Communication Preference Form on our website: so we can keep you updated on EDVR news, and invite you to various shareholder networking events throughout the year. Forward-Looking Statements This press release includes 'forward-looking statements,' as such term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on the current beliefs of the Company's directors and executive officers (collectively, 'Management'), as well as assumptions made by and information currently available to the Company's Management. All statements regarding the Company's business strategy and plans and objectives of Management of the Company for future operations, are forward-looking statements. When used in this press release, the words 'anticipate,' 'believe,' 'estimate,' 'expect' and 'intend' and words or phrases of similar meaning, as they relate to the Company or the Company's Management, are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. Important factors that could cause actual results to differ materially from the Company's expectations ('cautionary statements') are loan losses, rapid and unanticipated deposit withdrawals, unavailability of sources of liquidity, additional regulatory requirements that may be imposed on community banks or banks generally, changes in interest rates, loss of key personnel, lower lending limits and capital than competitors, regulatory restrictions and oversight of the Company, the secure and effective implementation of technology, risks related to the local and national economy, the effect on customers, collateral value and property insurance markets of the recent wildfires in the Los Angeles metropolitan area and similar events in the future, changes in real estate values, the Company's implementation of its business plans and management of growth, loan performance, interest rates, and regulatory matters, the effects of trade, monetary and fiscal policies, inflation, and changes in accounting policies and practices. Based upon changing conditions, if any one or more of these risks or uncertainties materialize, or if any underlying assumptions prove incorrect, actual results may vary materially from those described as anticipated, believed, estimated, expected, or intended. The Company does not intend to update these forward-looking statements. Endeavor Bancorp Contact Information: (858) 230.5185 Dan Yates, CEO [email protected] (858) 230.4243 Steve Sefton, President [email protected]
