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The outbreak of COVID-19 has affected not just the health of
people but also the health of businesses across the globe. This
crisis has affected most companies either directly or indirectly
belonging to sectors such as healthcare, finance, real estate,
motor vehicles, pharmaceuticals, etc. The economic uncertainty has
caused a significant impact on financial reporting due to increased
market risks including an overall reduction in demand and
production shutdown post mid – March 2020.
For the preparation of interim financial statements for the
quarter ending June 2020 and onwards, and financial statements as
The rapid spread of COVID-19 has been a major shock globally, resulting in an unprecedented health crisis. The truth is that this pandemic has forced governments across the globe to introduce aggressive and severe emergency measures and restrictions in a robust attempt to contain the virus spread. As a result, the pandemic has been a particular threat to, the transport and aviation, hotel and catering industries, as well as the banking industry.
While Lombard Bank had a good start to 2020 with growth in line with expectations, the latest financial data available as at Q3-2020, as in the case of other local peers, indicates that the ongoing COVID-19 pandemic continued to negatively impact the bank’s revenue streams also during the third quarter of 2020.
SouthState Corporation Reports Fourth Quarter 2020 Results and Declares Quarterly Cash Dividend
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WINTER HAVEN, Fla., Jan. 27, 2021 /PRNewswire/ SouthState Corporation (NASDAQ: SSB) today released its unaudited results of operations and other financial information for the three-month and twelve-month period ended December 31, 2020.
The Company reported consolidated net income of $1.21 per diluted common share for the three months ended December 31, 2020, compared to $1.34 per diluted common share for the three months ended September 30, 2020, and compared to $1.45 per diluted common share one year ago. During the fourth quarter of 2020, the Company incurred $38.8 million in swap termination expense (pre-tax) and $19.8 million in merger-related and branch closure expense (pre-tax). These charges were partially offset by an income tax benefit of $31.5 million related to the ability to carryback tax losses under the CARES
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PITTSBURGH, Jan. 19, 2021 /PRNewswire/ F.N.B. Corporation (NYSE: FNB) reported earnings for the fourth quarter of 2020 with net income available to common stockholders of $70.2 million, or $0.22 per diluted common share. Comparatively, fourth quarter of 2019 net income available to common stockholders totaled $93.2 million, or $0.29 per diluted common share, and third quarter of 2020 net income available to common shareholders totaled $80.8 million, or $0.25 per diluted common share. On an operating basis, the fourth quarter of 2020 earnings per diluted common share (non-GAAP) was $0.28, excluding $0.06 for significant items. Operating earnings per diluted common share (non-GAAP) for the fourth quarter of 2019 was $0.30 and $0.26 for the third quarter of 2020, excluding $0.01 for significant items in each quarter.
Read more about Weak market breadth; metal stocks tumble on Business Standard. In the broader market, the S&P BSE Mid-Cap index tumbled 2.35% while the S&P BSE Small-Cap index declined 1.75%.