Cathay General Bancorp Announces Fourth Quarter and Full Year 2020 Results
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LOS ANGELES, Jan. 27, 2021 /PRNewswire/ Cathay General Bancorp (the Company , we , us , or our NASDAQ: CATY), the holding company for Cathay Bank, today announced its unaudited financial results for the quarter and year ended December 31, 2020. The Company reported net income of $70.9 million, or $0.89 per share, for the fourth quarter of 2020, and net income of $228.9 million, or $2.87 per share, for the year ended December 31, 2020.
FINANCIAL PERFORMANCE
$0.89
$0.89
11.75%
HIGHLIGHTS
The net interest margin increased to 3.12% in the fourth quarter of 2020 from 3.02% in the third quarter of 2020.
Great Southern Bancorp, Inc. Reports Preliminary Fourth Quarter and Annual Earnings of $1.28 and $4.21 Per Diluted Common Share Great Southern Bancorp, Inc.
Preliminary Financial Results and Other Matters for the Quarter and Year Ended December 31, 2020:
CECL Adoption: The recently-enacted COVID relief legislation, the Consolidated Appropriations Act, 2021, provides for an optional additional delay for certain bank holding companies to adopt the Current Expected Credit Loss (CECL) accounting standard. Great Southern Bancorp, Inc. (the Company) has elected to delay the initial adoption date of this standard to January 1, 2021, in accordance with guidance approved by the Securities and Exchange Commission. Therefore, the Company’s financial statements for the three months and year ended December 31, 2020, were prepared under the existing incurred loss accounting standard. The adoption of the CECL model during the first quarter of 2021 will require us to recognize a one-time c
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MARIETTA, Ohio, Jan. 26, 2021 /PRNewswire/ Peoples Bancorp Inc. ( Peoples ) (NASDAQ: PEBO) today announced results for the quarter and year ended December 31, 2020. Net income totaled $20.6 million for the fourth quarter of 2020, representing record quarterly results and earnings per diluted common share of $1.05. In comparison, earnings per diluted common share were $0.51 for the third quarter of 2020 and $0.72 for the fourth quarter of 2019. For the full year, net income was $34.8 million in 2020 versus $53.7 million in 2019, representing earnings per diluted common share of $1.73 and $2.63, respectively.
The record quarterly earnings were largely driven by a recovery for credit losses recognized in the fourth quarter of 2020. Non-core items, and the related tax effect of each, contained in net income included gains and losses on securities and asset disposals and other transactions, acquisition-related costs, severance expense
Synchrony To Acquire Allegro Credit To Drive Growth In Health And Wellness Financing
Consumer finance provider to accelerate Synchrony s leadership in audiology, dental and musical instruments financing
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STAMFORD, Conn., Jan. 26, 2021 /PRNewswire/ Synchrony (NYSE: SYF) today announced it has reached a definitive agreement to acquire Allegro Credit, a leading provider of point-of-sale consumer financing for audiology products, dental services and musical instruments.
Synchrony today announced it has reached a definitive agreement to acquire Allegro Credit, a leading provider of point-of-sale consumer financing for audiology products, dental services and musical instruments.
Synchrony today announced reached a definitive agreement to acquire Allegro Credit.
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January 22, 2021 1:22 PM Natalie Campisi - Forbes Advisor
Posted:
Updated:
January 25, 2021 6:18 AM
President Joe Biden is no stranger to severe housing problems. When he became vice president in 2009 under the Obama administration, he inherited a massive subprime mortgage crisis that caused millions of people to lose their homes through foreclosure while trillions of dollars of equity disappeared.
The housing crisis was the country’s worst piñata, filled with sloppy and predatory lending, expensive adjustable-rate mortgages, an oversupply of housing and lack of government oversight. And when it was finally split open, it exposed a rotten system that needed an overhaul.