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American Savings Bank Reports Third Quarter 2020 Financial Results

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3Q 2020 Net Income of $12.2 MillionResults Reflect Economic Dynamics and Improved Noninterest Income from Core ActivitiesHONOLULU, Oct. 30, 2020 /PRNewswire/ — American Savings Bank, F.S.B. (American), a wholly-owned subsidiary of Hawaiian Electric Industries, Inc. (NYSE – HE), today reported net income for the third quarter of 2020 of $12.2 million. This compares to $14.0 million in the second, or linked, quarter of 2020, and $22.9 million in the third quarter of 2019.”I continue to be impressed by the resilience of our customers as they adapt to the ongoing challenges of Hawaii’s still-suppressed economy. Even so, because the timing of a sustained reopening of our tourism sector remains uncertain, our results again reflect elevated provision for potential credit losses,” said Rich Wacker, president and chief executive officer of American. “While low interest rates continue to compress lending margins, in the third quarter we were able to reduce expenses and improve noninterest income from core activities, including strong mortgage banking income from our residential lending activity, replacing most of the prior quarter’s gains on sales of securities.”Financial HighlightsNet interest income was $57.3 million in the third quarter of 2020 compared to $56.7 million in the linked quarter, and $62.1 million in the third quarter of 2019. Net interest income increased over the …

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Elmer Bancorp, Inc. Announces Third Quarter 2020 Financial Results

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ELMER BANCORP, INC. (“Elmer Bancorp” or the “Company”) (OTC Pink: ELMA), the parent company of The First National Bank of Elmer (the “Bank”), announces its operating results for the three and nine months ended September 30, 2020.For the three months ended September 30, 2020, Elmer Bancorp reported net income of $183,000, or $0.16 per common share compared to $556,000, or $0.49 per common share for the quarter ended September 30, 2019. For the nine months ended September 30, 2020 net income totaled $1.147 million, or $1.00 per common share compared to $1.486 million, or $1.30 per common share for the nine months ended September 30, 2019.Net income for both the three and nine-month periods ended September 30, 2020 was significantly impacted by increases in the provision for loan losses. For the three months ended September 30, 2020, provisions for loan losses totaled $335,000 compared to $23,000 for the three months ended September 30, 2019, an increase of $312,000. For the nine-month period ended September 30, 2020, provisions for loan losses totaled $571,000 compared to $198,000 for the nine months ended September 30, 2019, an increase of $373,000. These increases in the loan loss provision were necessary due to the uncertainties in the economy and the ability of businesses to recover from the effects of the coronavirus pandemic. Management continues to remain cautious in the current operating environment by increasing the loan loss …

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LPL Financial Holdings Inc (LPLA) Q3 2020 Earnings Call Transcript @themotleyfool #stocks $LPLA

lpl financial holdings inc (lpla) q3 2020 earnings call transcript @themotleyfool #stocks $lpla

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Image source: The Motley Fool.

LPL Financial Holdings Inc (NASDAQ:LPLA)Q3 2020 Earnings CallOct 29, 2020, 5:00 p.m. ETContents:

Prepared Remarks
Questions and Answers
Call Participants

Prepared Remarks:
OperatorGood afternoon, and thank you for joining the Third Quarter 2020 Earnings Conference Call for LPL Financial Holdings Inc. Joining the call today are President and Chief Executive Officer, Dan Arnold; and Chief Financial Officer, Matt Audette. Dan and Matt will offer introductory remarks and then the call will be open for questions. [Operator Instructions] The company has posted its earnings press release and supplementary information on the Investor Relations section of the company’s website, investor.lpl.com. Today’s call will include forward-looking statements, including statements about LPL Financial’s future financial and operating results, outlook, business strategies and plans as well as our other opportunities and potential risks that management foresees. Such forward-looking statements reflect management’s current estimates or beliefs and are subject to known and unknown risks and uncertainties that may cause actual results or the timing of events to differ materially from those expressed or implied in such forward-looking statements. The company refers to listeners to the disclosures put under the caption Forward-looking Statements in the earnings press release as well as the …

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I’m a financial advisor, and I’d encourage any millennial to move in with their parents to achieve a financial goal

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Personal Finance Insider writes about products, strategies, and tips to help you make smart decisions with your money. We may receive a small commission from our partners, like American Express, but our reporting and recommendations are always independent and objective.As a millennial and a financial advisor, I know firsthand the pressure my generation faces to make it on our own. Gone are the days of family support to achieve financial goals.But I also know that family support can be critical — and shouldn’t be stigmatized. My grandmother, my mother, and I all lived with family at one time to achieve our goals.Multiple generations living together is good for everyone, since expenses are shared. Just make a plan before you move in with family, and have an exit strategy.Check out Vanguard Personal Advisor Services® to get the investment advice you need to help build the life you want »Recently, I’ve heard a lot more talk about group economics — i.e. a group of people who share common economic goals — and how that concept and value system has eroded over time.I’m here to argue in favor of group economics in the context of family life. I believe there …

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Rogers Corp., Axos Financial: 5 Top Stock Gainers – TheStreet

rogers corp., axos financial: 5 top stock gainers – thestreet

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Rogers Corp., Axos Financial: 5 Top Stock GainersRogers Corp., Acadia Healthcare, Coventa Holding, Goosehead Insurance and Axos Financial are five of the top stock gainers for Friday.Author:Rob LenihanPublish date:Oct 30, 2020 1:56 PM EDTStocks were sliding Friday as investors contended with record-setting new daily cases of the coronavirus in the U.S. and disappointing guidance from some of the country’s biggest tech companies. Here are some of the top gainers for Friday:1. Rogers Corp. | Percentage Increase Over 16%Shares of Rogers Corp.  (ROG) – Get Report climbed after the electronic components company beat Wall Street’s third-quarter earnings expectations. Revenue totaled $201.9 million, down 9% from a year earlier but beating analysts’ forecasts of $184.2 million.2. Acadia Healthcare | Percentage Increase Over 18%Acadia Healthcare  (ACHC) – Get Report advanced after the medical care facilities operator beat Wall Street’s third-quarter earnings and revenue expectations. Revenue totaled $833.3 million, compared with $777.3 million a year earlier. The latest figure beat analysts’ consensus estimate of $800.2 million.3. Covanta Holding | Percentage Increase Over 16%Shares of Covanta Holding  (CVA) – Get Report rose after the waste management company beat Wall Street’s third-quarter earnings expectations. The company said waste markets are returning to near pre-coronavirus pandemic levels. Revenue rose 5.6% to $491 million.4. Goosehead Insurance | Percentage Increase Over 12% …

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Peoples Financial Services Corp. Declares Fourth Quarter 2020 Dividend

peoples financial services corp. declares fourth quarter 2020 dividend

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SCRANTON, Pa., Oct. 30, 2020 /PRNewswire/ — The Board of Directors of Peoples Financial Services Corp. (NASDAQ: PFIS) declared a fourth quarter dividend of $0.36 per share. The $0.36 equals the per share dividend declared in the prior quarter and represents a 2.9% increase over the dividend declared in the fourth quarter of 2019.  The dividend is payable December 15, 2020 to shareholders of record November 30, 2020.
Peoples Financial Services Corp. (the “Company”) is the parent company of Peoples Security Bank and Trust Company (the “Bank”), an independent community bank serving its retail and commercial customers through twenty-six full-service community banking offices located within the Bucks, Lackawanna, Lebanon, Lehigh, Luzerne, Monroe, Montgomery, Northampton, Susquehanna, and Wyoming Counties in Pennsylvania and Broome County in New York. Each office, interdependent with the community, offers a comprehensive array of financial products and services to individuals, businesses, not-for-profit organizations and government entities. The Company’s business philosophy includes offering direct access to senior management and other officers and providing friendly, informed and courteous service, local and timely decision making, flexible and reasonable operating procedures and consistently applied credit policies. 
Safe Harbor Forward-Looking Statements:
We make statements in this press release, and we may from time to time make other statements regarding our outlook or …

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Optimization company raises $10M in Series A financing | ROI-NJ

optimization company raises $10m in series a financing | roi-nj

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Transcend, an optimization specialist with its U.S. headquarters in Piscataway, raised $10 million in its Series A financing round, it announced this week.
The financing was led by Nyca Capital, a fintech venture capital firm, and included an undisclosed custodian bank.
“From the outset of our Series A funding, we were primarily looking to find partners that would complement our business,” CEO Bimal Kadikar said in a prepared statement. “It would have been relatively easy to have raised more money, as almost all of the 10 or so venture capital firms we spoke to came back and said they wanted to invest in the business, but there wasn’t enough room in this round.”
Transcend said it has more than doubled its client base in the past two years.

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Blown deadlines, late fees, fixes in flurry of financial filings from Baltimore council president candidate Mosby

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As for the corrections to his campaign finance reports, such amendments are routine for small amounts here and there, said Rachael Rice, a political consultant who has worked for the campaigns of Maryland House Speaker Adrienne A. Jones, City Councilman Eric Costello and Baltimore County State’s Attorney Scott Shellenberger. All are Democrats.

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Results: Peapack-Gladstone Financial Corporation Exceeded Expectations And The Consensus Has Updated Its Estimates

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TipRanks3 High-Yield Dividend Stocks Offering at Least 8%; Analysts Say ‘Buy’America goes to the polls on Tuesday (well, actually, America has been early voting for a few weeks, now), and while Democrat Joe Biden has a solid lead in the polls, there is some of evidence that President Trump may still win a second term. Finally, with all of the early voting, mass absentee ballots, and possible extended counting deadlines, we might not know on Tuesday night who the winner is.It’s a situation made of uncertainty, and financial markets don’t like that. Which brings us to dividend stocks. Investors want a pad, something to protect their portfolio in case of a market drop, and dividends offer just that. These profit-sharing payments to stockholders provide a steady income stream, that typically stays reliable even in a modest downturn. Wall Street’s analysts have been doing some of the footwork for us, pinpointing dividend-paying stocks that have kept up high yields, at least 8% to be exact. Opening up the TipRanks database, we examine the details behind those payments to find out what else makes these stocks compelling buys.Altria Group, Inc. (MO)We’ll start with Altria Group, the …

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Touchstone Bankshares Reports 3rd Quarter 2020 Financial Results

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PRINCE GEORGE, Va., Oct. 30, 2020 /PRNewswire/ — Touchstone Bankshares, Inc. (the “Company”) (OTC Pink: TSBA), and its wholly-owned subsidiary, Touchstone Bank (the “Bank”), reported unaudited net income of $607 thousand for the quarter ended September 30, 2020, a decrease of $239 thousand, or 28.3%, when compared to the $846 thousand of net income recorded for the same quarter in 2019. Return on average assets was 0.47% for the third quarter of 2020, a decrease of 25 basis points when compared to the 0.72% return on average assets recorded for the third quarter of 2019. Basic and diluted earnings per common share for the quarter ended September 30, 2020 was $0.18. For the nine months ended September 30, 2020, net income was $1.5 million and basic and diluted earnings per common share were $0.44 and $0.43, respectively. Bankshares (PRNewsfoto/Touchstone Bankshares, Inc.)James Black, President and CEO commented “Our priority remains with taking care of our employees and customers and that stayed top of mind during the third quarter. Secondly, we strengthened the Company’s financial posture and flexibility through a subordinated debt issuance, boosted loan loss reserves and executed a previously announced efficiency improvement plan. Each of the initiatives adding shareholder value and better positioning us for when we return to normality.”EarningsNet interest income for the quarters ended September 30, 2020 and September 30, 2019 …

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