Online illustrator free trial – Robert De Jesus http://robertdejesus.com/ Fri, 18 Nov 2022 22:26:40 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://robertdejesus.com/wp-content/uploads/2021/10/icon-7.png Online illustrator free trial – Robert De Jesus http://robertdejesus.com/ 32 32 Dividend announcement BSVN $0.1600/share 11/18/2022 https://robertdejesus.com/dividend-announcement-bsvn-0-1600-share-11-18-2022/ Fri, 18 Nov 2022 22:26:40 +0000 https://robertdejesus.com/dividend-announcement-bsvn-0-1600-share-11-18-2022/ Bank7 Corp (NASDAQ:BSVN) on 11/18/2022 declared a dividend of $0.1600 per share payable January 05, 2023 to shareholders of record as of December 23, 2022. The amount of the dividend recorded is an increase of $0.04 compared to the last dividend paid. Bank7 Corp (NASDAQ:BSVN) has paid dividends since 1970, has a current dividend yield […]]]>

Bank7 Corp (NASDAQ:BSVN) on 11/18/2022 declared a dividend of $0.1600 per share payable January 05, 2023 to shareholders of record as of December 23, 2022. The amount of the dividend recorded is an increase of $0.04 compared to the last dividend paid.

Bank7 Corp (NASDAQ:BSVN) has paid dividends since 1970, has a current dividend yield of 2.4662811756% and has increased dividends for 0 consecutive years.

The market capitalization of Bank7 Corp is $236,560,200 and has a PE ratio of 9.44. The stock price closed yesterday at $25.95 and has a 52-week low/high of $21.00 and $27.14.

Bank7 is a bank holding company. Through its subsidiary, Bank7 (the Bank), Co. operates several branches in Oklahoma, the Dallas/Fort Worth metro area and Kansas. The Bank particularly focuses on the following loan categories: commercial real estate loans, hotel loans, energy loans and commercial and industrial loans. Co. provides consumer lending services to individuals for personal and household purposes, including secured and unsecured term loans and home improvement loans. Consumer lending services include: residential real estate loans and mortgage banking, personal lines of credit, auto loans and other installment loans.

For more information on Bank7 Corp, click here.

Bank7 Corp’s current dividend information as of the date of this press release is:

Dividend declaration date: November 18, 2022
Ex-dividend date: December 22, 2022
Dividend record date: December 23, 2022
Dividend payment date: January 5, 2023
Dividend amount: $0.1600

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Enova International (NYSE:ENVA) Update on StockNews.com https://robertdejesus.com/enova-international-nyseenva-update-on-stocknews-com/ Wed, 16 Nov 2022 08:19:03 +0000 https://robertdejesus.com/enova-international-nyseenva-update-on-stocknews-com/ Enova International (NYSE: ENVA – Get a rating) has been updated by equity research analysts from StockNews.com from a “hold” rating to a “buy” rating in a research report released Wednesday to clients and investors. Separately, JMP Securities reissued a “buy” rating and set a target price of $42.00 on shares of Enova International in […]]]>

Enova International (NYSE: ENVAGet a rating) has been updated by equity research analysts from StockNews.com from a “hold” rating to a “buy” rating in a research report released Wednesday to clients and investors.

Separately, JMP Securities reissued a “buy” rating and set a target price of $42.00 on shares of Enova International in a research note on Thursday, September 29.

Performance of Enova’s international shares

Shares of NYSE ENV opened at $39.40 on Wednesday. The stock has a market capitalization of $1.24 billion, a PE ratio of 6.64 and a beta of 1.50. Enova International has a 1 year minimum of $25.80 and a 1 year maximum of $47.88. The company has a fifty-day moving average price of $33.55 and a 200-day moving average price of $32.82. The company has a debt ratio of 1.80, a current ratio of 14.87 and a quick ratio of 14.87.

Enova International (NYSE: ENVAGet a rating) last released its results on Thursday, October 27. The credit service provider reported earnings per share of $1.61 for the quarter, beating the consensus estimate of $1.48 by $0.13. Enova International had a net margin of 12.72% and a return on equity of 19.25%. The company posted revenue of $456.20 million in the quarter, versus a consensus estimate of $441.25 million. Stock analysts expect Enova International to post earnings per share of 6.25 for the current fiscal year.

Insider buying and selling

In other Enova International news, Chief Financial Officer Steven E. Cunningham sold 29,674 shares of the company in a trade that took place on Tuesday, October 4. The stock was sold at an average price of $31.00, for a total transaction of $919,894.00. Following the completion of the transaction, the CFO now owns 178,356 shares of the company, valued at approximately $5,529,036. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible via this link. 7.20% of the shares are held by insiders of the company.

Institutional investors weigh in on Enova International

Several large investors have recently increased or reduced their stake in the stock. Lazard Asset Management LLC bought a new position in shares of Enova International during Q2 valued at approximately $44,000. Quantbot Technologies LP bought a new position in Enova International during Q3, valued at approximately $102,000. Dupont Capital Management Corp bought a new stake in Enova International in Q1 worth around $145,000. SG Americas Securities LLC increased its stake in Enova International by 27.5% in the first quarter. SG Americas Securities LLC now owns 3,813 shares of the credit service provider worth $145,000 after buying 823 additional shares in the last quarter. Finally, Mutual of America Capital Management LLC increased its stake in Enova International shares by 11.1% during the second quarter. Mutual of America Capital Management LLC now owns 5,468 shares of the credit service provider valued at $158,000 after buying 548 additional shares in the last quarter. 92.43% of the shares are held by institutional investors.

About Enova International

(Get a rating)

Enova International, Inc, a technology and analytics company, provides online financial services in the United States, Brazil, Australia and Canada. The company offers installment loans; line of credit accounts; debt purchase agreements; CSO programs, including arranging loans with independent third-party lenders and assisting in the preparation of loan applications and loan documents; and banking programs, such as marketing services and loan servicing for prime unsecured consumer installment loans.

Further reading

This instant news alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to contact@marketbeat.com.

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BSP maintains cap on credit card fees until the end of the year https://robertdejesus.com/bsp-maintains-cap-on-credit-card-fees-until-the-end-of-the-year/ Sat, 12 Nov 2022 16:00:00 +0000 https://robertdejesus.com/bsp-maintains-cap-on-credit-card-fees-until-the-end-of-the-year/ Laurent Agcaoili – The Star of the Philippines November 13, 2022 | 00:00 MANILA, Philippines — Consumers are expected to continue to enjoy low interest rates and fees on their credit card transactions at least through the Christmas holidays after Bangko Sentral ng Pilipinas (BSP) decided to maintain the current cap until ‘at the end […]]]>
Laurent Agcaoili – The Star of the Philippines

November 13, 2022 | 00:00

MANILA, Philippines — Consumers are expected to continue to enjoy low interest rates and fees on their credit card transactions at least through the Christmas holidays after Bangko Sentral ng Pilipinas (BSP) decided to maintain the current cap until ‘at the end of the year.

The central bank’s Monetary Board has decided to keep the cap on interest rates and fees on credit card transactions until the end of December before reviewing them in January next year.

“No big reason. Just the timing of the cap adjustment,” BSP Governor Felipe Medalla told The STAR.

Medalla, who chairs the seven-member Monetary Council, said earlier that the regulator was finally adjusting the rate cap and other charges after a series of aggressive rate hikes imposed by the BSP to tame inflation and stabilize the economy. peso.

The STAR first reported that the BSP imposes an interest rate or finance charge cap of 2% per month and 24% per annum on the outstanding credit card balance.

Similarly, additional monthly rates that credit card issuers could charge on installment loans were set at a maximum rate of 1%, as well as a maximum processing fee of P200 per transaction on the use of advances funds on credit card.

BSP formalized the imposition of the Monetary Board-approved cap through Circular 1098 issued in late September 2020 and the cap came into effect on November 3, 2020 to ease the burden on Filipinos affected by the global health crisis.

The maximum rates and charges are subject to review by BSP every six months and a new rate was expected to be in place by early November.

Before the cap was imposed at the height of the global health crisis, the annualized interest rate on credit card receivables averaged 36%.

After cutting policy rates by 200 basis points, bringing the benchmark rate down to a historic low of 2% as part of its COVID-19 response measures in 2020, the BSP turned hawkish by aggressively raising interest rates by 225 basis points to 4.25% this year to control inflation and stabilize the peso.

The central bank is widely expected to deliver another huge 75 basis point hike on Thursday after Medalla highlighted the need for the BSP Monetary Council to match the Federal Reserve’s aggressive rate hikes point by point. US in order to maintain the interest rate differential.

Philippine banks and credit card issuers have reported lower revenues since caps were imposed on credit card fees.

Preliminary data from the BSP showed credit card lending jumped 26.1 percent to 507.42 billion pesos at the end of September this year, from 402.41 billion pesos at the end of September. last year, consumer loans increased by 20.5% to 965.99 billion pesos against 801.4. billion.

During the nine-month period, total loans disbursed by major banks grew at a faster rate of 13.4% to reach 10.49 trillion pesos compared to a level of 9.25 trillion pesos a year ago. a year, supporting the recovery of economic activity and domestic demand.

From strict Alert Level 3 in January as infections surged with the highly transmissible variant of Omicron, the National Capital Region and neighboring provinces moved to Alert Level 1 in March as COVID cases -19 were steadily decreasing.

In the third quarter of the year, the Philippines recorded gross domestic product (GDP) growth of 7.6% faster than expected despite soaring inflation and a weak peso. This figure was slightly higher than the 7.5% expansion recorded in the second quarter.

The country is on track to meet the GDP growth target of 6.5-7.5% set by economic managers, with expansion averaging 7.7% for the January-September period.

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HAWTHORN BANCSHARES, INC. Management’s Discussion and Analysis of Financial Condition and Results of Operations (Form 10-Q) https://robertdejesus.com/hawthorn-bancshares-inc-managements-discussion-and-analysis-of-financial-condition-and-results-of-operations-form-10-q/ Thu, 10 Nov 2022 18:03:05 +0000 https://robertdejesus.com/hawthorn-bancshares-inc-managements-discussion-and-analysis-of-financial-condition-and-results-of-operations-form-10-q/ Forward-looking statements This report contains certain forward-looking statements regarding the financial condition, results of operations, plans, objectives, future performance and activities of Hawthorn Bancshares, Inc.and its affiliates (collectively, the Company, we, us or our), including without limitation: • statements that are not of a historical nature, and • statements preceded, followed by, or containing the […]]]>

Forward-looking statements

This report contains certain forward-looking statements regarding the financial condition, results of operations, plans, objectives, future performance and activities of Hawthorn Bancshares, Inc.and its affiliates (collectively, the Company, we, us or our), including without limitation:

• statements that are not of a historical nature, and • statements preceded, followed by, or containing the words believes, expects, may, will, should, might, anticipates, estimates, intends, plans, hopes or similar expressions.


Forward-looking statements are not guarantees of future performance or results.
They involve risks, uncertainties and assumptions. Actual results may differ
materially from those contemplated by the forward-looking statements due to,
among others, the following factors:

•competitive pressures among financial services companies may increase
significantly,
•changes in the interest rate environment may reduce interest margins,
•general economic conditions, either nationally or in Missouri, may be less
favorable than expected and may adversely affect the quality of our loans and
other assets,
•increases in non-performing assets in the Company's loan portfolios and adverse
economic conditions may necessitate increases to our provisions for loan losses,
•costs or difficulties related to any integration of any business of the Company
and its acquisition targets may be greater than expected,
•legislative, regulatory or tax law changes may adversely affect the business in
which the Company and its subsidiaries are engaged,
•credit and market risks relating to increasing inflation,
•changes may occur in the securities markets, and
•the COVID-19 pandemic, or any resurgence thereof, or other external events may
adversely affect the Company.

We have described additional factors that could cause actual results to be
materially different from those described in the forward-looking statements
under the caption Risk Factors in the Company's Annual Report on Form 10-K for
the year ended December 31, 2021, and in other reports filed with the SEC from
time to time. Other factors that have not been identified in this report could
also have this effect. You are cautioned not to put undue reliance on any
forward-looking statement, which speak only as of the date they were made.
Except as required by law, the Company undertakes no obligation to update or
revise forward-looking statements to reflect changed assumptions, the occurrence
of unanticipated events, or changes in its business, results of operations or
financial condition over time.

                                       35
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Insight


Crucial to the Company's community banking strategy is growth in its commercial
banking services, retail mortgage lending and retail banking services. Through
the branch network of its subsidiary bank, Hawthorn Bank (the Bank), the
Company, with $1.8 billion in assets at September 30, 2022, provides a broad
range of commercial and personal banking services. The Bank's specialties
include commercial banking for small and mid-sized businesses, including
equipment, operating, commercial real estate, Small Business Administration
(SBA) loans, and personal banking services including real estate mortgage
lending, installment and consumer loans, certificates of deposit, individual
retirement and other time deposit accounts, checking accounts, savings accounts,
and money market accounts. Other financial services that the Company provides
include trust services that include estate planning, investment and asset
management services and a comprehensive suite of cash management services. The
geographic areas in which the Company provides products and services include the
Missouri communities in and surrounding Jefferson City, Columbia, Clinton,
Warsaw, Springfield, St. Louis, and the greater Kansas City metropolitan area.

The Company's primary source of revenue is net interest income derived primarily
from lending and deposit taking activities. Much of the Company's business is
commercial, commercial real estate development, and residential mortgage
lending. The Company's income from mortgage brokerage activities is directly
dependent on mortgage rates and the level of home purchases and refinancing
activity.

The success of the Company's growth strategy depends primarily on the ability of
the Bank to generate an increasing level of loans and deposits at acceptable
risk levels and on acceptable terms without significant increases in
non-interest expenses relative to revenues generated. The Company's financial
performance also depends, in part, on its ability to manage various portfolios
and to successfully introduce additional financial products and services by
expanding new and existing customer relationships, utilizing improved
technology, and enhancing customer satisfaction. Furthermore, the success of the
Company's growth strategy depends on its ability to maintain sufficient
regulatory capital levels during periods in which general economic conditions
are unfavorable and despite economic conditions being beyond its control.

The Bank is a full-service bank that conducts a general banking business,
offering its customers checking and savings accounts, debit cards, certificates
of deposit, safety deposit boxes and a wide range of lending services, including
commercial and industrial loans, residential real estate loans, single payment
personal loans, installment loans and credit card accounts. In addition, the
Bank provides trust services.

The deposit accounts of the Bank are insured by the Federal Deposit Insurance
Corporation (FDIC) to the extent provided by law. The operations of the Bank are
supervised and regulated by the FDIC and the Missouri Division of Finance.
Periodic examinations of the Bank are conducted by representatives of the FDIC
and the Missouri Division of Finance. Such regulations, supervision and
examinations are principally for the benefit of depositors, rather than for the
benefit of shareholders. The Company is subject to supervision and examination
by the Board of Governors of the Federal Reserve System.











                                       36
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CRITICAL ACCOUNTING POLICIES AND ESTIMATES


The following accounting policies are considered most critical to the
understanding of the Company's financial condition and results of operations.
These critical accounting policies require management's most difficult,
subjective and complex judgments about matters that are inherently uncertain.
Because these estimates and judgments are based on current circumstances, they
may change over time or prove to be inaccurate based on actual experiences. In
the event that different assumptions or conditions were to prevail, and
depending upon the severity of such changes, the possibility of a materially
different financial condition and/or results of operations could reasonably be
expected. The impact and any associated risks related to the critical accounting
policies on the business operations are discussed throughout Management's
Discussion and Analysis of Financial Condition and Results of Operations, where
such policies affect the reported and expected financial results.

Allowance for loan losses


Management has identified the accounting policy related to the allowance for
loan losses as critical to the understanding of the Company's results of
operations, since the application of this policy requires significant management
assumptions and estimates that could result in materially different amounts to
be reported if conditions or underlying circumstances were to change. Further
discussion of the methodology used in establishing the allowance and the impact
of any associated risks related to these policies on the Company's business
operations is provided in Note 1 - Summary of Significant Accounting Policies
and is also discussed in the Lending and Credit Management section below. Many
of the loans are deemed collateral dependent for purposes of the measurement of
the impairment loss, thus the fair value of the underlying collateral and
sensitivity of such fair values due to changing market conditions, supply and
demand, condition of the collateral and other factors can be volatile over
periods of time. Such volatility can have an impact on the financial performance
of the Company.
                                       37
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Summary


The Company has prepared all of the consolidated financial information in this
report in accordance with U.S. GAAP. In preparing the consolidated financial
statements in accordance with U.S. GAAP, the Company makes estimates and
assumptions that affect the reported amount of assets and liabilities,
disclosure of contingent assets and liabilities at the date of the financial
statements, and the reported amounts of revenue and expenses during the
reporting period. There can be no assurances that actual results will not differ
from those estimates.

                                                            The Three Months Ended
                                                                                              September 30,                                 September 30,
(Dollars in thousands, except per share data)                                                     2022               June 30, 2022              2021
Net interest income                                                                          $     15,067          $       14,561          $     15,380
Provision for loan losses                                                                                300                   1,200                   300
Non-interest income                                                                                    3,485                   3,648                 3,776
Investment securities gains (losses), net                                                                  1                     (9)                   126
Non-interest expense                                                                                  12,195                  11,540                11,769
Income before income taxes                                                                             6,058                   5,460                 7,213
Income tax expense                                                                                     1,131                     971                 1,417
Net income                                                                                   $      4,927          $        4,489          $      5,796
Basic earnings per share                                                                     $          0.73       $            0.66       $          0.84
Diluted earnings per share                                                                   $          0.73       $            0.66       $          0.84
Efficiency ratio (1)                                                                                  65.73%                  63.38%                61.44%
Net interest spread                                                                                    3.28%                   3.47%                 3.62%
Net interest margin                                                                                    3.56%                   3.64%                 3.78%

                                                                                                                              Nine Months Ended
                                                                                                                                September 30,
(Dollars in thousands, except per share data)                                                                            2022                   2021
Net interest income                                                                                                $       43,773          $     43,442
(Release of) provision for loan losses                                                                                       (1,000)                   700
Non-interest income                                                                                                           10,859                13,010
Investment securities (losses) gains, net                                                                                       (12)                   140
Non-interest expense                                                                                                          35,962                35,391
Income before income taxes                                                                                                    19,658                20,501
Income tax expense                                                                                                             3,633                 3,974
Net income                                                                                                         $       16,025          $     16,527
Basic earnings per share                                                                                           $            2.36       $          2.40
Diluted earnings per share                                                                                         $            2.36       $          2.40
Efficiency ratio (1)                                                                                                          65.83%                62.69%
Net interest spread                                                                                                            3.36%                 3.43%
Net interest margin                                                                                                            3.57%                 3.60%


(1)Efficiency ratio is calculated as non-interest expense as a percentage of
revenue. Total revenue is calculated as net interest income plus non-interest
income.

                                       38
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                                                                          The Three Months Ended                            As of and for the Nine months ended
                                                        September 30,                                September 30,                                  September 30,
                                                             2022              June 30, 2022             2021             September 30, 2022             2021
Key financial ratios
Book value per share                                    $        16.97       $           18.20       $       20.22
Market price per share                                  $        21.86       $           25.49       $       22.27
Cash dividends paid on common
stock                                                   $        1,105       $             990       $         954       $              3,088       $        2,624
Return on total assets                                           1.08%                   1.04%               1.33%                      1.21%                1.28%
Return on stockholders' equity                                  15.30%                  14.00%              16.49%                     16.00%           

16.37%

Average stockholders' equity to
total assets                                                     7.06%                   7.40%               8.05%                      7.55%                7.82%

Capital Ratios
Stockholders' equity to assets                                   6.25%                   6.93%               8.00%
Total risk-based capital ratio                                  13.84%                  13.97%              15.01%
Tier 1 risk-based capital ratio                                 12.25%                  12.53%              13.64%
Common equity Tier 1 capital                                     9.82%                   9.85%              10.26%
Tier 1 leverage ratio (1)                                       10.60%                  10.98%              10.82%

Asset Quality
Net-charge-offs (recoveries)                            $       148          $          126          $      106          $             398          $      (116)
Non-performing loans                                    $    17,348          $       17,817          $   32,835
Classified assets                                       $    96,705          $       99,200          $  111,697
Non-performing loans to total
loans                                                            1.16%                   1.25%               2.56%
Non-performing assets to total
assets                                                           1.44%                   1.51%               2.56%
Allowance for loan losses to total
loans                                                            1.04%                   1.08%               1.48%


(1)The Tier 1 leverage ratio is calculated by dividing the Tier 1 capital by the average total consolidated assets

Highlights of operating results


Consolidated net income of $4.9 million for the third quarter 2022 increased
$0.4 million, or 9.8%, compared to the second quarter 2022 ("linked quarter")
and decreased $0.9 million, or 15.0%, from the third quarter 2021 (the "prior
year quarter"). Earnings per diluted share were $0.73 for the third quarter 2022
compared to $0.66 and $0.84 for the linked quarter and prior year quarter,
respectively. For the third quarter 2022, the return on average assets was
1.08%, the return on average stockholders' equity was 15.30%, and the efficiency
ratio was 65.7%.

Consolidated net income of $16.0 million, or $2.36 per diluted share, for the
nine months ended September 30, 2022 decreased $0.5 million, or 3.0%, compared
to $16.5 million, or $2.40 per diluted share, for the nine months ended
September 30, 2021. For the nine months ended September 30, 2022, the return on
average assets was 1.21%, the return on average stockholders' equity was 16.00%,
and the efficiency ratio was 65.8%.

Net interest income of $15.1 million for the third quarter 2022 increased $0.5
million from the linked quarter, and decreased $0.3 million from the prior year
quarter. Net interest margin, on a fully taxable equivalent basis ("FTE") basis,
was 3.56% for the third quarter, a decrease from 3.64% and 3.78% for the linked
quarter and the prior year quarter, respectively.

Net interest income of $43.8 million for the nine months ended September 30,
2022 increased $0.3 million compared to $43.4 million for the nine months ended
September 30, 2021. Net interest margin, on a fully taxable equivalent basis
("FTE") basis, was 3.57% for the nine months ended September 30, 2022, a
decrease from 3.60% for the nine months ended September 30, 2021. These changes
are discussed in greater detail under the Average Balance Sheet Data and Rate
and Volume Analysis section below.

Non-interest income for the third quarter 2022 was $3.5 million, a decrease of
$0.2 million, or 4.5%, from the linked quarter, and a decrease of $0.3 million,
or 7.7%, from the prior year quarter. The change in the current quarter compared
to

                                       39
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the prior year quarter was primarily due to lower gain on sale of real estate mortgages of $0.7 millioni.e. 54.1%.


Non-interest income of $10.9 million for the nine months ended September 30,
2022 decreased $2.2 million, or 16.5%, compared to $13.0 million for the nine
months ended September 30, 2021. The change was primarily due to the decrease in
the gain on sale of real estate mortgages of $3.6 million, or 60.5%. These
changes are discussed in greater detail under the Non-interest Income and
Expense section below.

Non-interest expense for the third quarter 2022 was $12.2 million, an increase
of $0.7 million, or 5.7%, from the linked quarter, and an increase of $0.4
million, or 3.6%, from the prior year quarter. The change in the current quarter
compared to the linked quarter was primarily due to the increase in salary and
benefits expenses, processing, network, and bankcard expense, and advertising
and promotion expenses.

Non-interest expense for the nine months ended September 30, 2022 was $36.0
million, an increase of $0.6 million, or 1.6%, from the nine months ended
September 30, 2021. The change was primarily due to the new software maintenance
agreements and the change in the fair value adjustment for mortgage banking
derivatives, partially offset by a decrease in salary and benefits and loan
expense. These changes are discussed in greater detail under the Non-interest
Income and Expense section below.

Balance Sheet Highlights

Loans – Loans held for investment increased by $64.2 millioni.e. 4.5%, equal to
$1.5 billion of the September 30, 2022 compared to the end of the related quarter. Year over year, loans held for investment increased $209.2 millioni.e. 16.3%, of $1.3 billion of the September 30, 2021.


Asset quality - Non-performing loans totaled $17.3 million at September 30,
2022, a decrease of $0.5 million from $17.8 million at the end of the linked
quarter, and a decrease of $15.5 million from $32.8 million at the end of the
prior year quarter. The reduction in non-performing loans in the current quarter
as compared to the prior year quarter was primarily due to three large
non-accrual loan relationships returning to accrual status. The allowance for
loan losses to total loans was 1.04% at September 30, 2022, compared to 1.30% at
December 31, 2021 and 1.48% at September 30, 2021. These changes are discussed
in greater detail under the Lending and Credit Management section below.

Deposits - Total deposits increased by $62.0 million, or 4.0%, equal to $1.6
billion as of September 30, 2022 as compared to the end of the linked quarter.
Year-over-year deposits grew $181.7 million, or 12.9%, from $1.4 billion as of
September 30, 2021.

Capital - Total shareholder's equity was $115.4 million and the common equity to
assets ratio was 6.25% at September 30, 2022 as compared to 6.93% and 8.00% at
the end of the linked quarter and the prior year quarter, respectively.
Regulatory capital ratios remain "well-capitalized," with a tier 1 leverage
ratio of 10.60% and a total risk-based capital ratio of 13.84% at September 30,
2022.

Average Balance Sheet Data

Net interest income is the largest source of revenue resulting from the
Company's lending, investing, borrowing, and deposit gathering activities. It is
affected both by changes in the level of interest rates and changes in the
amounts and mix of interest earning assets and interest-bearing liabilities. The
following table presents average balance sheet data, net interest income,
average yields of earning assets, average costs of interest-bearing liabilities,
net interest spread and net interest margin on a fully taxable equivalent basis
for each of the three and nine month periods ended September 30, 2022 and 2021,
respectively. The average balances used in this table and other statistical data
were calculated using average daily balances.

                                       40
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                                                                                                  Three Months Ended September 30, 2022
                                                                           2022                                                                       2021
                                                                 Interest Income/                                                              Interest Income/
(Dollars in thousands)                    Average Balance           Expense (1)            Rate Earned/ Paid (1)    Average Balance              Expense (1)             Rate Earned/ Paid (1)
ASSETS
Loans: (2) (3)
Commercial                                $       245,877       $             3,211                         5.18% $            247,564       $              4,575                         7.33%
Real estate construction - residential             24,249                       333                          5.45               35,358                        453                          5.08
Real estate construction - commercial             127,594                     1,522                          4.73               75,081                        885                          4.68
Real estate mortgage - residential                323,158                     3,581                          4.40              270,464                      2,863                          4.20
Real estate mortgage - commercial                 702,139                     7,597                          4.29              633,238                      6,590                          4.13
Installment and other consumer                     23,738                       206                          3.44               24,363                        242                          3.94
Total loans                               $     1,446,755       $            16,450                         4.51% $          1,286,068       $             15,608                         4.81%
Loans held for sale                                 1,560                        23                          5.85                3,092                         24                          3.08
Investment securities:
U.S. Treasury                                       3,586                        12                          1.33                3,033                          4                          0.52
U.S. government and federal agency
obligations                                        25,440                        87                          1.36               20,819                         75                          1.43
Obligations of states and political
subdivisions                                      113,003                     1,040                          3.65              114,804                        868                          3.00
Mortgage-backed securities                        111,616                       493                          1.75              130,659                        443                          1.35
Other debt securities                              12,781                       163                          5.06               10,608                        128                          4.79
Total investment securities                       266,426                     1,795                          2.67              279,923                      1,518                          2.15
Other investment securities                         5,431                        64                          4.68                6,010                         81                          5.35
Federal funds sold                                     46                         -                             -                6,829                          1                          0.06
Interest bearing deposits in other
financial institutions                             15,462                        76                          1.95               84,825                         78                          0.36
Total interest earning assets             $     1,735,680       $            18,408                         4.21% $          1,666,747       $             17,310                         4.12%
All other assets                                   88,159                                                                       84,269
Allowance for loan losses                        (15,431)                                                                     (18,801)
Total assets                              $     1,808,408                                                         $          1,732,215
LIABILITIES AND STOCKHOLDERS' EQUITY
Savings                                   $       182,364       $                16                         0.03% $            161,308       $                 14                         0.03%
NOW accounts                                      268,780                       646                          0.95              225,351                        130                          0.23
Interest checking                                  47,788                       264                          2.19               37,391                         45                          0.48
Money market                                      302,773                       456                          0.60              281,425                         91                          0.13
Time deposits                                     273,550                       584                          0.85              252,731                        437                          0.69
Total interest bearing deposits           $     1,075,255       $             1,966                         0.73% $            958,206       $                717                         0.30%
Federal funds purchased and securities
sold under agreements to repurchase                 6,181                        13                          0.84               29,753                         19                          0.25
Federal Home Loan Bank advances and other
borrowings                                         75,262                       277                          1.46               93,533                        383                          1.62
Subordinated notes                                 49,486                       570                          4.57               49,486                        305                          2.45
Total borrowings                                  130,929                       860                          2.61              172,772                        707                          1.62

Total interest-bearing liabilities $1,206,184 $

  2,826                         0.93% $          1,130,978       $              1,424                         0.50%
Demand deposits                                   464,377                                                                      445,062
Other liabilities                                  10,100                                                                       16,723
Total liabilities                         $     1,680,661                                                         $          1,592,763
Stockholders' equity                              127,747                                                                      139,452
Total liabilities and stockholders'
equity                                    $     1,808,408                                                         $          1,732,215
Net interest income (FTE)                                       $            15,582                                                          $             15,886
Net interest spread                                                                                         3.28%                                                                         3.62%
Net interest margin                                                                                         3.56%                                                                         3.78%


(1)Interest income and yields are presented on a fully taxable equivalent basis
using the federal statutory income tax rate of 21%, net of nondeductible
interest expense, for the three months ended September 30, 2022 and 2021. Such
adjustments totaled $0.5 million and $0.5 million for the three months ended
September 30, 2022 and 2021, respectively.
(2)Non-accruing loans are included in the average amounts outstanding.
(3)Fees and costs on loans are included in interest income ($20,000 and $2.0
million of PPP fees were included in commercial loan income for the three months
ended September 30, 2022 and 2021, respectively)
                                       41
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                                                                                                   Nine Months Ended September 30, 2022
                                                                            2022                                                                       2021
                                                                  Interest Income/                                                              Interest Income/
(Dollars in thousands)                     Average Balance           Expense (1)            Rate Earned/ Paid (1)    Average Balance              Expense (1)             Rate Earned/ Paid (1)
ASSETS
Loans: (2) (3)
Commercial                                 $       233,076       $             8,860                         5.08% $            253,878       $             11,732                         6.18%
Real estate construction - residential              23,627                       865                          4.89               34,625                      1,274                          4.92
Real estate construction - commercial              110,540                     3,683                          4.45               77,115                      2,676                          4.64
Real estate mortgage - residential                 300,518                     9,461                          4.21              264,699                      8,546                          4.32
Real estate mortgage - commercial                  685,041                    21,743                          4.24              624,455                     19,809                          4.24
Installment and other consumer                      22,987                       614                          3.57               25,044                        750                          4.00
Total loans                                $     1,375,789       $            45,226                         4.40% $          1,279,816       $             44,787                         4.68%
Loans held for sale                                  1,841                        69                          5.01                4,262                         79                          2.48
Investment securities:
U.S. Treasury                                        3,909                        29                          0.99                3,026                         13                          0.57
U.S. government and federal agency
obligations                                         26,235                       271                          1.38               22,579                        275                          1.63
Obligations of states and political
subdivisions                                       118,845                     3,152                          3.55               88,333                      1,989                          3.01
Mortgage-backed securities                         120,806                     1,503                          1.66              125,813                      1,249                          1.33
Other debt securities                               13,080                       476                          4.87               11,675                        430                          4.92
Total investment securities                        282,875                     5,431                          2.57              251,426                      3,956                          2.10
Other investment securities                          5,430                       204                          5.02                6,021                        246                          5.46
Federal funds sold                                   2,285                         5                          0.29               10,979                          6                          0.07
Interest bearing deposits in other
financial institutions                              34,210                       179                          0.70              108,021                        263                          0.33
Total interest earning assets              $     1,702,430       $            51,114                         4.01% $          1,660,525       $             49,337                         3.97%
All other assets                                    85,993                                                                       84,682
Allowance for loan losses                         (15,575)                                                                     (18,579)
Total assets                               $     1,772,848                                                         $          1,726,628
LIABILITIES AND STOCKHOLDERS' EQUITY
Savings                                    $       179,952       $                45                         0.03% $            153,730       $                 40                         0.03%
NOW accounts                                       267,266                     1,196                          0.60              227,925                        402                          0.24
Interest checking                                   34,404                       346                          1.34               46,661                        168                          0.48
Money market                                       295,105                       688                          0.31              280,839                        255                          0.12
Time deposits                                      260,610                     1,297                          0.67              255,494                      1,612                          0.84
Total interest bearing deposits            $     1,037,337       $             3,572                         0.46% $            964,649       $              2,477                         0.34%
Federal funds purchased and securities
sold under agreements to repurchase                  8,812                        32                          0.49               38,797                         72                          0.25
Federal Home Loan Bank advances and other
borrowings                                          76,278                       778                          1.36               95,486                      1,164                          1.63
Subordinated notes                                  49,486                     1,316                          3.56               49,486                        921                          2.49
Total borrowings                                   134,576                     2,126                          2.11              183,769                      2,157                          1.57

Total interest-bearing liabilities $1,171,913 $

   5,698                         0.65% $          1,148,418       $              4,634                         0.54%
Demand deposits                                    455,689                                                                      426,290
Other liabilities                                   11,339                                                                       16,953
Total liabilities                          $     1,638,941                                                         $          1,591,661
Stockholders' equity                               133,907                                                                      134,967
Total liabilities and stockholders' equity $     1,772,848                                                         $          1,726,628
Net interest income (FTE)                                        $            45,416                                                          $             44,703
Net interest spread                                                                                          3.36%                                                                         3.43%
Net interest margin                                                                                          3.57%                                                                         3.60%


(1)Interest income and yields are presented on a fully taxable equivalent basis
using the federal statutory income tax rate of 21%, net of nondeductible
interest expense, for the nine months ended September 30, 2022 and 2021. Such
adjustments totaled $1.6 million and $1.3 million for the nine months ended
September 30, 2022 and 2021, respectively.
(2)Non-accruing loans are included in the average amounts outstanding.
(3)Fees and costs on loans are included in interest income ($0.4 million and
$4.0 million of PPP fees were included in commercial loan income for the nine
months ended September 30, 2022 and 2021, respectively).
                                       42
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Rate and volume analysis


The following table summarizes the changes in net interest income on a fully
taxable equivalent basis, by major category of interest-earning assets and
interest-bearing liabilities, identifying changes related to volumes and rates
for the three and nine months ended September 30, 2022 compared to the three and
nine months ended September 30, 2021. The change in interest due to the combined
rate/volume variance has been allocated to rate and volume changes in proportion
to the absolute dollar amounts of change in each.

                                                      Three Months Ended September 30,                               Nine Months Ended September 30,
                                                               2022 vs. 2021                                                  2022 vs. 2021
                                                                          Change due to                                                  Change due to
                                                                  Average                                                        Average
(in thousands)                             Total Change           Volume            Average Rate          Total Change           Volume            Average Rate
Interest income on a fully taxable
equivalent basis: (1)
Loans: (2) (3)
Commercial                                $     (1,364)         $    (31)  

$(1,333) $(2,872) (908) $ ($1,964)
Building construction – residential

              (120)             (151)                     31                 (409)           (402)                

(seven)

Real estate construction - commercial                 637               626                     11                  1007           1117                 

(110)

Real estate mortgage - residential                    718               579                    139                   915           1133                 

(218)

Real estate mortgage - commercial                   1,007               738                    269                 1,934           1921                 

13

Installment and other consumer                       (36)               (6)                   (30)                 (136)            (59)                   (77)
Loans held for sale                                   (1)              (16)                     15                  (10)            (61)                    51
Investment securities:
U.S. Treasury                                           8                 1                      7                    16              5                     11
U.S. government and federal agency
obligations                                            12                16                    (4)                   (4)             41                 

(45)

Obligations of states and political
subdivisions                                          172              (14)                    186                 1,163            768                    395
Mortgage-backed securities                             50              (71)                    121                   254            (52)                   306
Other debt securities                                  35                27                      8                    46             51                     (5)
Other investment securities                          (17)               (7)                   (10)                  (42)            (23)                   (19)
Federal funds sold                                    (1)               (1)                      -                   (1)             (7)                     6
Interest bearing deposits in other
financial institutions                                (2)             (106)                    104                  (84)           (260)                

176

Total interest income                     $      1,098          $  1,584          $        (486)         $      1,777          $  3,264          $      (1,487)
Interest expense:
Savings                                   $          2          $      2          $           -          $          5          $      6          $          (1)
NOW accounts                                          516             30                    486                      794             82                    712
Interest checking                                     219             16                    203                      178            (54)                   232
Money market                                          365              8                    357                      433             13                    420
Time deposits                                         147             38                    109                    (315)             32                   (347)
Federal funds purchased and securities
sold under agreements to repurchase                   (6)            (24)                       18                  (40)            (80)                

40

Federal Home Loan Bank advances and other
borrowings                                          (106)            (70)                     (36)                 (386)           (213)                    (173)
Subordinated notes                                    265              -                       265                   395              -                       395
Total interest expense                    $      1,402          $      -          $       1,402          $      1,064          $   (214)         $       1,278
Net interest income on a fully taxable
equivalent basis                          $       (304)         $  1,584          $      (1,888)         $        713          $  3,478          $      (2,765)


(1)Interest income and yields are presented on a fully taxable equivalent basis
using the federal statutory income tax rate of 21%, net of nondeductible
interest expense, for the three and nine months ended September 30, 2022 and
2021, respectively. Such adjustments totaled $0.5 million and $1.6 million for
the three and nine months ended September 30, 2022 compared to $0.5 million and
$1.3 million for the three and nine months ended September 30, 2021,
respectively.
(2)Non-accruing loans are included in the average amounts outstanding.
(3)Fees and costs on loans are included in interest income ($20,000 and $0.4
million of PPP fees were included in commercial loan income for the three and
nine months ended September 30, 2022 compared to $2.0 million and $4.0 million
for the nine months ended September 30, 2021, respectively).

                                       43
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Financial results for the quarter ended September 30, 2022 compared to the
quarter ended September 30, 2021 reflected a decrease in net interest income, on
a tax equivalent basis, of $0.3 million, or 1.9%, and the financial results for
the nine months ended September 30, 2022 compared to the nine months ended
September 30, 2021 reflected an increase of $0.7 million, or 1.6%. Measured as a
percentage of average earning assets, the net interest margin (expressed on a
fully taxable equivalent basis) decreased to 3.56% for the quarter ended
September 30, 2022 compared to 3.78% for the quarter ended September 30, 2021,
and decreased to 3.57% for the nine months ended September 30, 2022 compared to
3.60% for the nine months ended September 30, 2021. Driving the decrease in net
interest income in the quarter compared to the prior year quarter was higher
interest expense for interest bearing liabilities, partially offset by higher
interest income resulting from growth in loans of 12.5%. The significant loan
growth more than offset the reduction in PPP fee income of $2.0 million from the
prior year quarter. Driving the increase in net interest income for the current
year compared to the prior year, on a year-to-date basis, was higher interest
income resulting from growth in loans of 7.5%, and investment securities
portfolio of 12.5%, partially offset by higher interest expense for interest
bearing liabilities and a reduction of PPP fee income of $3.7 million.

Average interest-earning assets increased $68.9 million, or 4.1%, to
$1.74 billion for the quarter ended September 30, 2022 compared to $1.67 billion
for the quarter ended September 30, 2021, and average interest-bearing
liabilities increased $75.2 million, or 6.6%, to $1.21 billion for the quarter
ended September 30, 2022 compared to $1.13 billion for the quarter ended
September 30, 2021.

Average interest-earning assets increased $41.9 million, or 2.5%, to
$1.70 billion for the nine months ended September 30, 2022 compared to
$1.66 billion for the nine months ended September 30, 2021, and average
interest-bearing liabilities increased $23.5 million, or 2.0%, to $1.17 billion
for the nine months ended September 30, 2022 compared to $1.15 billion for the
nine months ended September 30, 2021.

Total interest income (expressed on a fully taxable equivalent basis) was $18.4
million and $51.1 million for the three and nine months ended September 30,
2022, respectively, compared to $17.3 million and $49.3 million for the three
and nine months ended September 30, 2021, respectively. The Company's rates
earned on interest earning assets were 4.21% and 4.01% for the three and nine
months ended September 30, 2022, respectively, compared to 4.12% and 3.97% for
the three and nine months ended September 30, 2021, respectively.

Interest income on loans held for investment was $16.5 million and $45.2 million
for the three and nine months ended September 30, 2022, respectively, compared
to $15.6 million and $44.8 million for the three and nine months ended
September 30, 2021, respectively.

Average loans outstanding increased $160.7 million, or 12.5%, to $1.45 billion
for the quarter ended September 30, 2022 compared to $1.29 billion for the
quarter ended September 30, 2021. The average yield on loans decreased to 4.51%
for the quarter ended September 30, 2022 compared to 4.81% for the quarter ended
September 30, 2021.

Average loans outstanding increased $96.0 million, or 7.5%, to $1.38 billion for
the nine months ended September 30, 2022 compared to $1.28 billion for the nine
months ended September 30, 2021. The average yield on loans decreased to 4.40%
for the nine months ended September 30, 2022 compared to 4.68% for the nine
months ended September 30, 2021. See the Lending and Credit Management section
for further discussion of changes in the composition of the lending portfolio.

Interest income on available-for-sale securities was $1.8 million and $5.4
million for the three and nine months ended September 30, 2022, respectively,
compared to $1.5 million and $4.0 million for the three and nine months ended
September 30, 2021, respectively.

Average securities decreased $13.5 million, or 4.8%, to $266.4 million for the
quarter ended September 30, 2022 compared to $279.9 million for the quarter
ended September 30, 2021. The average yield on securities increased to 2.67% for
the quarter ended September 30, 2022 compared to 2.15% for the quarter ended
September 30, 2021. See the Liquidity Management section for further discussion.

Average securities increased $31.4 million, or 12.5%, to $282.9 million for the
nine months ended September 30, 2022 compared to $251.4 million for the nine
months ended September 30, 2021. The average yield on securities increased to

                                       44
--------------------------------------------------------------------------------

2.57% for the nine months ended September 30, 2022 compared to 2.10% for the
nine months ended September 30, 2021. See the Liquidity Management section for
further discussion.

Total interest expense increased to $2.8 million for the quarter ended
September 30, 2022 compared to $1.4 million for the quarter ended September 30,
2021, and increased to $5.7 million for the nine months ended September 30, 2022
compared to $4.6 million for the nine months ended September 30, 2021. The
Company's rates paid on interest bearing-liabilities were 0.93% and 0.65% for
the three and nine months ended September 30, 2022, respectively, compared to
0.50% and 0.54% for the three and nine months ended September 30, 2021,
respectively. See the Liquidity Management section for further discussion.

Interest expense on deposits increased to $2.0 million for the quarter ended
September 30, 2022 compared to $0.7 million for the quarter ended September 30,
2021, and increased to $3.6 million for the nine months ended September 30, 2022
compared to $2.5 million for the nine months ended September 30, 2021.

Average interest-bearing deposits increased $117.0 million, or 12.2%, to $1.08
billion for the quarter ended September 30, 2022 compared to $0.96 billion for
the quarter ended September 30, 2021. The average cost of deposits increased to
0.73% for the quarter ended September 30, 2022 compared to 0.30% for the quarter
ended September 30, 2021.

Average interest-bearing deposits increased $72.7 million, or 7.5%, to $1.04
billion for the nine months ended September 30, 2022 compared to $0.96 billion
for the nine months ended September 30, 2021. The average cost of deposits
increased to 0.46% for the nine months ended September 30, 2022 compared to
0.34% for the nine months ended September 30, 2021.

Interest expense on borrowings increased to $0.9 million for the quarter ended
September 30, 2022 compared to $0.7 million for the quarter ended September 30,
2021, and decreased to $2.1 million for the nine months ended September 30, 2022
compared to $2.2 million for the nine months ended September 30, 2021.

Average borrowings decreased to $130.9 million for the quarter ended
September 30, 2022 compared to $172.8 million for the quarter ended
September 30, 2021. The average cost of borrowings increased to 2.61% for the
quarter ended September 30, 2022 compared to 1.62% for the quarter ended
September 30, 2021. The increase in cost of funds primarily resulted from higher
market interest rates.

Average borrowings decreased to $134.6 million for the nine months ended
September 30, 2022 compared to $183.8 million for the nine months ended
September 30, 2021. The average cost of borrowings increased to 2.11% for the
nine months ended September 30, 2022 compared to 1.57% for the nine months ended
September 30, 2021. The increase in cost of funds primarily resulted from higher
market interest rates.


Non-interest income and expenses

Non-interest income for the periods indicated was as follows:


                                                  Three Months Ended September 30,                               Nine Months Ended September 30,
(Dollars in thousands)                 2022            2021        $ Change            % Change         2022          2021      $ Change            % 

To change

Non-interest income
Service charges and other fees    $       693     $       782    $     (89)               (11.4) % $     2,322     $  2,285    $     37                  1.6  %
Bank card income and fees               1,030           1,043          (13)                (1.2) %       3,054        2,925         129                  4.4  %
Trust department income                   287             308          (21)                (6.8) %         924          910          14                  1.5  %
Real estate servicing fees, net           383              71          312                439.4  %         861          495         366                 73.9  %
Gain on sales of mortgage loans,
net                                       628           1,369         (741)               (54.1) %       2,322        5,881      (3,559)               (60.5) %
Other                                     464             203          261                128.6  %       1,376          514         862                167.7  %
Total non-interest income         $     3,485     $     3,776    $    (291)                (7.7) % $    10,859     $ 13,010    $ (2,151)               (16.5) %
Non-interest income as a % of
total revenue *                          18.8   %        19.7  %                                          19.9   %     23.0  %

*Total income is net interest income plus non-interest income.

                                       45
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Total non-interest income decreased $0.3 million, or 7.7%, to $3.5 million for
the third quarter ended September 30, 2022 compared to $3.8 million for the
third quarter ended September 30, 2021, and decreased $2.2 million, or 16.5%, to
$10.9 million for the nine months ended September 30, 2022 compared to $13.0
million for the nine months ended September 30, 2021. The decrease was primarily
due to the decrease in gain on sale of real estate mortgages due to lower
volumes of real estate mortgage loans sold as further discussed below.

Real estate servicing fees, net of the change in valuation of mortgage servicing
rights (MSRs) increased to $0.4 million for the quarter ended September 30, 2022
compared to $0.1 million for the quarter ended September 30, 2021, and increased
to $0.9 million for the nine months ended September 30, 2022 compared to $0.5
million for the nine months ended September 30, 2021.

Mortgage loan servicing fees earned on loans sold were $0.2 million and
$0.7 million for the three and nine months ended September 30, 2022,
respectively, compared to $0.2 million and $0.6 million for the three and nine
months ended September 30, 2021, respectively. The current quarter's MSR
valuation increased $155,000 and $186,000 from the end of the linked quarter and
December 31, 2021, respectively, primarily due to an increase in market rates.
Mortgage rates have increased significantly to over 6.0% for a new thirty-year
conforming mortgage. The Company was servicing $247.6 million of mortgage loans
at September 30, 2022 compared to $270.0 million and $277.1 million at
December 31, 2021 and September 30, 2021, respectively.

Gain on sales of mortgage loans decreased $0.7 million to $0.6 million for the
third quarter ended September 30, 2022 compared to $1.4 million for the third
quarter ended September 30, 2021, and decreased $3.6 million to $2.3 million for
the nine months ended September 30, 2022 compared to $5.9 million for the nine
months ended September 30, 2021.

The Company sold $21.4 million and $76.1 million of loans for the three and nine
months ended September 30, 2022, respectively, compared to $39.1 million and
$167.3 million for the three and nine months ended September 30, 2021,
respectively. Loans sold to the secondary market slowed after strong sales
during the first nine months of 2021.

Other Income increased $0.3 million to $0.5 million for the quarter ended
September 30, 2022 compared to $0.2 million for the quarter ended September 30,
2021, and increased $0.9 million to $1.4 million for the nine months ended
September 30, 2022 compared to $0.5 million for the nine months ended
September 30, 2021. The increase primarily resulted from mortgage banking
derivative income, interest component of net pension cost, net gain on sale of
property in other real estate owned, and income received from the Missouri
Department of Transportation related to a land easement.

The following table presents the gross realized gains and losses from sales and
calls of available-for-sale securities, as well as gains and losses on equity
securities from fair value adjustments which have been recognized in earnings:

                                                Three Months Ended September 30,                 Nine Months Ended September 30,
(in thousands)                                    2022                    2021                    2022                    2021
Investment securities gains (losses), net
Available-for-sale securities:
Gross realized gains                        $               -       $             119       $               -       $             121
Gross realized losses                                       -                       -                       -                   -
Other-than-temporary impairment recognized                  -                       -                       -                       -
Other investment securities:
Fair value adjustments, net                                 1                       7                    (12)                      19
Investment securities gains (losses), net   $               1       $             126       $            (12)       $             140


                                       46
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Non-interest expenses for the periods indicated were as follows:

                                              Three Months Ended September 30,                                       Nine Months Ended September 30,
(Dollars in thousands)              2022            2021         $ Change           % Change               2022            2021         $ Change           % Change
Non-interest expense
Salaries                      $      5,153     $      4,954    $     199              4.0%           $     15,315     $     15,446    $    (131)            (0.9)%
Employee benefits                    1,597            1,711         (114)            (6.7)                  4,936            5,320         (384)            (7.2)
Occupancy expense, net                 789              808          (19)            (2.4)                  2,339            2,298           41              1.8
Furniture and equipment
expense                                774              787          (13)            (1.7)                  2,301            2,284           17              0.7
Processing, network and bank
card expense                         1,261            1,288          (27)            (2.1)                  3,545            3,520           25              0.7
Legal, examination, and
professional fees                      395              357           38              10.6                  1,210            1,146           64              5.6
Advertising and promotion              430              310          120              38.7                  1,027              862          165              19.1
Postage, printing, and
supplies                               237              218           19              8.7                     653              608           45              7.4
Loan expense                           123              209          (86)            (41.1)                   426              612         (186)            (30.4)
Other                                1,436            1,127          309              27.4                  4,210            3,295          915              27.8
Total non-interest expense    $     12,195     $     11,769    $     426              3.6%           $     35,962     $     35,391    $     571              1.6%
Efficiency ratio*                     65.7   %         61.4  %                                               65.8   %         62.7  %
Number of full-time
equivalent employees                   299              302                                                   299              302

*The efficiency ratio is calculated as non-interest expense as a percentage of revenue. Total income is net interest income plus non-interest income.


Total non-interest expense increased $0.4 million to $12.2 million for the
quarter ended September 30, 2022 compared to $11.8 million for the quarter ended
September 30, 2021, and increased $0.6 million to $36.0 million for the nine
months ended September 30, 2022 compared to $35.4 million for the nine months
ended September 30, 2021.

Salaries increased $0.2 million, or 4.0%, to $5.2 million for the quarter ended
September 30, 2022 compared to $5.0 million for the quarter ended September 30,
2021, and decreased $0.1 million, or 0.9%, to $15.3 million for the nine months
ended September 30, 2022 compared to $15.4 million for the nine months ended
September 30, 2021. The decrease for the nine months ended September 30, 2022
was primarily due to reduced commissions based on lower loan volume. See Gains
on sales of mortgage loans discussion above.

Employee benefits decreased $0.1 million, or 6.7%, to $1.6 million for the
quarter ended September 30, 2022 compared to $1.7 million for the quarter ended
September 30, 2021, and decreased $0.4 million, or 7.2%, to $4.9 million for the
nine months ended September 30, 2022 compared to $5.3 million for the nine
months ended September 30, 2021. The decreases were primarily due to a decrease
in 401(k) plan contributions, medical premiums, and pension cost due to lower
annual discount rate assumptions compared to the prior year's annual
assumptions.

Other non-interest expense increased $0.3 million, or 27.4%, to $1.4 million for
the quarter ended September 30, 2022 compared to $1.1 million for the quarter
ended September 30, 2021, and increased $0.9 million, or 27.8%, to $4.2 million
for the nine months ended September 30, 2022 compared to $3.3 million for the
nine months ended September 30, 2021. The increases were primarily related to
the change in the fair value adjustment for mortgage banking derivatives,
insurance expense, telephone, and software expense related to network upgrades
and maintenance agreements.

Income taxes


Income taxes as a percentage of earnings before income taxes as reported in the
consolidated financial statements were 18.7% and 18.5% for the three and nine
months ended September 30, 2022, respectively, compared to 19.6% and 19.4% for
the three and nine months ended September 30, 2021, respectively.

The decrease in the effective tax rate for the three months ended September 30,
2022 compared to the three months ended September 30, 2021 was primarily
attributable to the decrease in earnings and the benefit recorded pertaining to
the historical tax credit. The decrease in the effective tax rate for the nine
months ended September 30, 2022 compared to the nine months ended September 30,
2021 was primarily attributable to the decrease in earnings and the benefit
recorded pertaining to the historical tax credit. The effective tax rate for
each of the three and nine months ended September 30, 2022 and 2021,
respectively, is lower than the U.S. federal statutory rate of 21% primarily due
to tax-free revenues.

                                       47
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Included in the effective tax rate is a $13,000 and $40,000 benefit associated
with a historic tax credit investment for the three and nine months ended
September 30, 2022, respectively. The investment is expected to generate a
$331,000 tax benefit over the life of the project and is being recognized under
the deferral method of accounting.

Loan and credit management


Interest earned on the loan portfolio is a primary source of interest income for
the Company. Net loans represented 79.9% of total assets as of September 30,
2022 compared to 70.2% as of December 31, 2021.

Lending activities are conducted pursuant to an established loan policy approved
by the Bank's Board of Directors. The Bank's credit review process is overseen
by regional loan committees with established loan approval limits. In addition,
a senior loan committee reviews all credit relationships in aggregate over an
established dollar amount. The senior loan committee meets weekly and is
comprised of senior managers of the Bank.

The main classifications within the Company’s portfolio of loans held for investment purposes at the dates indicated are as follows:


                                                      September 30, 2022                               December 31, 2021
(Dollars in thousands)                           Amount             % of Loans                    Amount             % of Loans
Commercial, financial, and agricultural
(a)                                       $         248,913                  16.7  %       $         217,214                  16.7  %
Real estate construction - residential               25,243                   1.7                     27,920                   2.1
Real estate construction - commercial               133,186                   8.9                     91,369                   7.0
Real estate mortgage - residential                  343,661                  23.0                    279,346                  21.5
Real estate mortgage - commercial                   717,192                  48.1                    663,256                  50.9
Installment and other consumer                       23,802                   1.6                     23,028                   1.8
Total loans held for investment           $       1,491,997                 100.0  %       $       1,302,133                 100.0  %


(a) Includes $0.6 million and $8.4 million SBA PPP loans, net at
September 30, 2022 and December 31, 2021respectively.


The Company extends credit to its local community markets through traditional
real estate mortgage products. The Company does not participate in credit
extension to sub-prime residential real estate markets. The Company does not
lend funds for transactions defined as "highly leveraged" by bank regulatory
authorities or for foreign loans. Additionally, the Company does not have any
concentrations of loans exceeding 10% of total loans that are not otherwise
disclosed in the loan portfolio composition table. The Company does not have any
interest-earning assets that would have been included in non-accrual, past due,
or restructured loans if such assets were loans.

The Company generally does not retain long-term fixed rate residential mortgage
loans in its portfolio. Fixed rate loans conforming to standards required by the
secondary market are offered to qualified borrowers but are not funded until the
Company has a non-recourse purchase commitment from the secondary market at a
predetermined price. During the nine months ended September 30, 2022, the
Company sold approximately $76.1 million of loans to investors compared to
$167.3 million for the nine months ended September 30, 2021. At September 30,
2022, the Company was servicing approximately $247.6 million of loans sold to
the secondary market compared to $270.0 million at December 31, 2021, and $277.1
million at September 30, 2021.

Loan Portfolio Risk Elements


Management, the senior loan committee, and internal loan review, formally review
all loans in excess of certain dollar amounts (periodically established) at
least annually. Loans in excess of $2.0 million in aggregate and all adversely
classified credits identified by management are reviewed by the senior loan
committee. In addition, all other loans are reviewed on a risk weighted
selection process. The senior loan committee reviews and reports to the Board of
Directors, at scheduled meetings: past due, classified, and watch list loans in
order to classify or reclassify loans as loans requiring attention, substandard,
doubtful, or loss. During this review, management also determines which loans
should be considered impaired. Management follows the guidance provided in the
Financial Accounting Standards Board's (FASB) ASC Topic 310-10-35 in identifying
and measuring loan impairment. If management determines that it is probable that
all amounts due on a loan will not be collected under the original terms of the
loan agreement, the loan is considered impaired. These loans are evaluated
individually for impairment, and in conjunction with current economic conditions
and loss experience, specific reserves are estimated as further discussed below.
Loans not individually evaluated are aggregated and reserves are recorded using
a consistent methodology that considers historical loan loss experience by loan
type,

                                       48
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delinquencies, current economic conditions, loan risk ratings and industry
concentration. Management believes, but there can be no assurance, that these
procedures keep management informed of potential problem loans. Based upon these
procedures, both the allowance and provision for loan losses are adjusted to
maintain the allowance at a level considered necessary by management to provide
for probable losses inherent in the loan portfolio.

Non-performing assets


The following table summarizes non-performing assets at the dates indicated:

                                                                      September 30,              December 31,
(Dollars in thousands)                                                    2022                       2021

Non-accrual loans:
Commercial, financial, and agricultural                           $                 173       $               153

Real estate construction - commercial                                                91                       105
Real estate mortgage - residential                                                1,083                     1,129
Real estate mortgage - commercial                                                15,995                    24,029
Installment and other consumer                                                        6                        43
Total                                                             $              17,348       $            25,459

Contractually past due loans – 90 days or more past due and still outstanding:


Real estate mortgage - residential                                $                   -       $                14

Total                                                             $                   -       $                14
Total non-performing loans (a)                                                   17,348                    25,473
Other real estate owned and repossessed assets                                    9,210                    10,525
Total non-performing assets                                       $              26,558       $            35,998

Loans held for investment                                         $           1,491,997       $         1,302,133
Allowance for loan losses to loans                                              1.04  %                   1.30  %
Non-accrual loans to total loans                                                1.16  %                   1.96  %
Non-performing loans to loans (a)                                               1.16  %                   1.96  %
Non-performing assets to loans (b)                                              1.78  %                   2.76  %
Non-performing assets to assets (b)                                             1.44  %                   1.97  %
Allowance for loan losses to non-accrual loans                                 89.38  %                  66.39  %
Allowance for loan losses to non-performing loans                              89.38  %                  66.36  %


(a)Non-performing loans include loans 90 days past due and accruing, non-accrual
loans, and non-performing TDRs included in non-accrual loans and 90 days past
due.
(b)Non-performing assets include non-performing loans and other real estate
owned and repossessed assets.

Total non-performing assets were $26.6 millioni.e. 1.78% of total loans, at
September 30, 2022 compared to $36.0 millioni.e. 2.76% of total loans, at
December 31, 2021.


Total non-accrual loans at September 30, 2022 decreased $8.1 million, or 31.9%,
to $17.3 million compared to $25.5 million at December 31, 2021. There were no
loans past due 90 days and still accruing interest at September 30, 2022
compared to $14,000 at December 31, 2021. Other real estate and repossessed
assets were $9.2 million and $10.5 million at September 30, 2022 and
December 31, 2021, respectively. During the nine months ended September 30,
2022, there were $3,000 of non-accrual loans, net of charge-offs taken, added to
other real estate owned and repossessed assets compared to $142,000 during the
nine months ended September 30, 2021.

As of September 30, 2022, approximately $14.7 million of loans classified as
substandard, which include performing TDRs, and were not included in the
non-performing asset table, were identified as potential problem loans having
more than normal risk which raised doubts as to the ability of the borrower to
comply with present loan repayment terms, compared to $13.8 million at
December 31, 2021. Management believes the allowance for loan losses was
sufficient to cover the risks and probable losses related to such loans at
September 30, 2022 and December 31, 2021, respectively.

                                       49
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The following table summarizes the Company’s ToRs on the dates indicated:

                                                             September 30, 2022                                                           December 31, 2021
                                        Number of                                            Specific               Number of                                            Specific
(Dollars in thousands)                  contracts             Recorded Investment            Reserves               contracts             Recorded Investment            Reserves
Performing TDRs
Commercial, financial and
agricultural                                         3       $                 177       $             23                        2       $                 188       $             24
Real estate mortgage - residential                   5                       1,098                     53                        6                       1,262                     56
Real estate mortgage - commercial                    2                         313                     53                        2                         328                     38
Installment and other consumer                       0                           -                      -                        2                          17                      2
Total performing TDRs                               10       $               1,588       $            129                       12       $               1,795       $            120
Non-performing TDRs

Real estate mortgage - residential                   5       $                 330       $             42                        5       $                 561       $             39

Total non-performing TDRs                            5       $                 330       $             42                        5       $                 561       $             39
Total TDRs                                          15       $               1,918       $            171                       17       $               2,356       $            159


At September 30, 2022, loans classified as TDRs totaled $1.9 million, with $0.2
million of specific reserves, compared to $2.4 million of loans classified as
TDRs, with $0.2 million of specific reserves, at December 31, 2021.
Non-performing loans, included $0.3 million of loans classified as TDRs at
September 30, 2022 compared to $0.6 million at December 31, 2021. Both
performing and non-performing TDRs are considered impaired loans. When an
individual loan is determined to be a TDR, the amount of impairment is based
upon the present value of expected future cash flows discounted at the loan's
effective interest rate or the fair value of the underlying collateral less
applicable selling costs if the loan is collateral dependent. The net decrease
in total TDRs from December 31, 2021 to September 30, 2022 was primarily due to
$439,000 of payments received on TDRs.

Allowance for loan losses and provision

Allowance for loan losses


The following table is a summary of the allocation of the allowance for loan
losses:

                                                         September 30, 2022                     December 31, 2021
                                                                   % of loans in                         % of loans in
                                                                 each category to                      each category to
(in thousands)                                        Amount        total loans             Amount        total loans
Allocation of allowance for loan losses at end of
period:
Commercial, financial, and agricultural            $    2,848              16.7  %       $    2,717              16.7  %
Real estate construction - residential                     71               1.7                 137               2.1
Real estate construction - commercial                     849               8.9                 588               7.0
Real estate mortgage - residential                      3,232              23.0               2,482              21.5
Real estate mortgage - commercial                       8,002              48.1              10,662              50.9
Installment and other consumer                            316               1.6                 256               1.8
Unallocated                                               187                 -                  61                 -
Total                                              $   15,505             100.0  %       $   16,903             100.0  %


The allowance for loan losses was $15.5 million, or 1.04%, of loans outstanding
at September 30, 2022 compared to $16.9 million, or 1.30%, of loans outstanding
at December 31, 2021. The ratio of the allowance for loan losses to
non-performing loans was 89.38% at September 30, 2022, compared to 66.36% at
December 31, 2021.

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The following table is a summary of the general and specific allocations of the
allowance for loan losses:

                                                                September 30,
(in thousands)                                                       2022               December 31, 2021

Breakdown of allowance for loan losses: assessed individually for impairment – specific reserves $ 302 $

            3,044
Collectively evaluated for impairment - general reserves              15,203                      13,859
Total                                                          $      15,505          $           16,903


The specific reserve component applies to loans evaluated individually for
impairment. The net carrying value of impaired loans is generally based on the
fair values of collateral obtained through independent appraisals and/or
internal evaluations, or by discounting the total expected future cash flows.
Once the impairment amount is calculated, a specific reserve allocation is
recorded. At September 30, 2022, $0.3 million of the Company's ALL was allocated
to impaired loans totaling approximately $18.9 million compared to $3.0 million
of the Company's ALL allocated to impaired loans totaling approximately $27.3
million at December 31, 2021. Management determined that $15.9 million, or 84%,
of total impaired loans required no reserve allocation at September 30, 2022
compared to $16.6 million, or 61%, at December 31, 2021, primarily due to
adequate collateral values, acceptable payment history and adequate cash flow
ability.

The incurred loss component of the general reserve, or loans collectively
evaluated for impairment, is determined by applying loss rates to pools of loans
by asset type. Loans not individually evaluated are aggregated by risk
characteristics and reserves are recorded using a consistent methodology that
considers historical loan loss experience by loan type. The look-back period
begins with loss history in the first quarter 2012 as the starting point through
the current quarter and it will continue to include this starting point going
forward. Management determined that the look-back period should be expanded
until a loss-producing downturn is recognized. This would be accomplished by
allowing the look-back period to shift forward by eliminating the earliest loss
period and replenishing it with losses from the most recent period. The
look-back period is consistently evaluated for relevance given the current facts
and circumstances.

These historical loss rates for each risk group are used as the starting point
to determine loss rates for measurement purposes. The historical loan loss rates
are multiplied by loss emergence periods (LEP) which represent the estimated
time period between a borrower first experiencing financial difficulty and the
recognition of a loss.

The Company's methodology includes qualitative risk factors that allow
management to adjust its estimates of losses based on the most recent
information available and to address other limitations in the quantitative
component based on historical loss rates. Such risk factors are generally
reviewed and updated quarterly, as appropriate, and are adjusted to reflect
changes in national and local economic conditions and developments, the nature,
volume and terms of loans in the portfolio, including changes in volume and
severity of past due loans, the volume of non-accrual loans, and the volume and
severity of adversely classified or graded loans, loan concentrations,
assessment of trends in collateral values, assessment of changes in the quality
of the Company's internal loan review department, and changes in lending
policies and procedures, including underwriting standards and collections,
charge-off and recovery practices.

The specific and general reserve allocations represent management's best
estimate of probable losses inherent in the loan portfolio at the evaluation
date. Although the ALL is comprised of specific and general allocations, the
entire ALL is available to absorb any credit losses.

The decrease in the allowance for loan losses from December 31, 2021 as compared
to September 30, 2022 primarily resulted from one large non-accrual loan
relationship impacted by COVID-19 that returned to performing status. This
transition was made according to the Company's established internal loan
policies regarding loan performance as well as consultation with industry
experts. This transition back to performing status also reduced specific
reserves based on the attributes of the individual loan collateral, to the
general allocations method described above. The Company continues to monitor the
risks associated with its non-performing loans. Partially offsetting this
decrease in the allowance for loan losses was an increase in the reserve due to
the significant loan growth that occurred during the first nine months of 2022.

Arrangement


The Company recognized a provision expense and a negative provision expense for
loan losses of $0.3 million and $1.0 million for the three and nine months ended
September 30, 2022, respectively, compared to $0.3 million and $0.7 million
provision expense for the three and nine months ended September 30, 2021,
respectively. The negative provision

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expense primarily resulted from the release of specific reserves totaling $2.8
million in the first quarter of 2022 due to returning the balances related to
one loan relationship to accrual from non-accrual status.

The following table summarizes loan loss experience for the periods indicated:

                                                                                        Three Months Ended September 30, 2022
                                                                  2022                                                                          2021
                                                                                      Net (Recoveries)                                                             Net (Recoveries)
                                   Net Charge-offs                                     Charge-offs /             Net Charge-offs                                    Charge-offs /
(Dollars in thousands)               (Recoveries)             Average Loans            Average Loans              (Recoveries)             Average Loans            Average Loans
Commercial, financial, and
agricultural                     $              33          $      245,877                       0.01  %       $             26          $      247,564                       0.01  %
Real estate construction -
residential                                      -                  24,249                          -                         -                  35,358                          -
Real estate construction -
commercial                                       -                 127,594                          -                         -                  75,081                          -
Real estate mortgage -
residential                                     (4)                323,158                          -                        10                 270,464                          -
Real estate mortgage -
commercial                                      (6)                702,139                          -                        14                 633,238                          -
Installment and other consumer                 125                  23,738                       0.53                        56                  24,363                       0.23
Total                            $                148       $    1,446,755                       0.01  %       $               106       $    1,286,068                       0.01  %


                                                                                          Nine Months Ended September 30,
                                                                  2022                                                                        2021
                                                                                     Net (Recoveries)                                                            Net (Recoveries)
                                   Net Charge-offs                                    Charge-offs /            Net Charge-offs                                    Charge-offs /
(Dollars in thousands)              (Recoveries)             Average Loans            Average Loans              (Recoveries)            Average Loans            Average Loans
Commercial, financial, and
agricultural                     $             57          $      233,076                       0.02  %       $          (102)         $      253,878                      (0.04) %
Real estate construction -
residential                                     -                  23,627                          -                      (13)                 34,625                      (0.04)
Real estate construction -
commercial                                      -                 110,540                          -                        -                  77,115                          -
Real estate mortgage -
residential                                   (27)                300,518                      (0.01)                    (161)                264,699                      (0.06)
Real estate mortgage -
commercial                                    169                 685,041                       0.02                       41                 624,455                       0.01
Installment and other consumer                199                  22,987                       0.87                      119                  25,044                       0.48
Total                            $               398       $    1,375,789                       0.03  %       $            (116)       $    1,279,816                      (0.01) %

Net loan write-offs (recoveries)


The Company's net charge-offs were $0.1 million, or 0.01% of average loans, for
the quarter ended September 30, 2022 compared to $0.1 million, or 0.01% of
average loans, for the quarter ended September 30, 2021, and net charge-offs
were $0.4 million, or 0.03% of average loans, for the nine months ended
September 30, 2022 compared to net recoveries of $0.1 million, or (0.01)% of
average loans, for the nine months ended September 30, 2021.

Loans held for sale


The Company designates certain long-term fixed rate personal real estate loans
as held for sale. In the fourth quarter of 2021, the Company elected the fair
value option for all newly originated long-term personal real estate loans held
for sale. As of December 31, 2021, all loans held for sale were carried at fair
value. The loans are primarily sold to Freddie Mac, Fannie Mae, and PennyMac and
other various secondary market investors. At September 30, 2022, the carrying
amount of these loans was $0.9 million compared to $2.2 million at December 31,
2021.

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Cash and capital resources

Cash management


The role of liquidity management is to ensure funds are available to meet
depositors' withdrawal and borrowers' credit demands while at the same time
maximizing profitability. This is accomplished by balancing changes in demand
for funds with changes in the supply of those funds. Liquidity to meet these
demands is provided by maturing assets, short-term liquid assets that can be
converted to cash and the ability to attract funds from external sources,
principally depositors. Due to the nature of services offered by the Company,
management prefers to focus on transaction accounts and full service
relationships with customers as the primary sources of funding.

The Company's Asset/Liability Committee (ALCO), primarily made up of senior
management, has direct oversight responsibility for the Company's liquidity
position and profile. A combination of daily, weekly, and monthly reports
provided to management detail the following: internal liquidity metrics,
composition and level of the liquid asset portfolio, timing differences in
short-term cash flow obligations, available pricing and market access to the
financial markets for capital, and exposure to contingent draws on the Company's
liquidity.

The Company has a number of sources of funds to meet liquidity needs on a daily
basis. The Company's most liquid assets are comprised of available-for-sale
investment securities, not including other debt securities, federal funds sold,
and excess reserves held at the Federal Reserve.

(in thousands)                              September 30, 2022      December 31, 2021
Federal funds sold                         $               46      $        

7,122

Other interest-bearing deposits                          26,259             

135,500

Certificates of deposit in other banks                  4,195               

5,193

Available-for-sale investment securities                245,155                 310,870
Total                                      $          275,655      $          458,685


Federal funds sold and resale agreements normally have overnight maturities and
are used for general daily liquidity purposes. The fair value of the
available-for-sale investment portfolio was $245.2 million at September 30, 2022
and included an unrealized net loss of $54.5 million. The portfolio includes
projected maturities and mortgage-backed securities pay-downs of approximately
$5.7 million over the next twelve months, which offer resources to meet either
new loan demand or reductions in the Company's borrowings.

The Company pledges portions of its investment securities portfolio to secure
public fund deposits, federal funds purchase lines, securities sold under
agreements to repurchase, borrowing capacity at the Federal Reserve Bank, and
for other purposes as required or permitted by law. At September 30, 2022 and
December 31, 2021, the Company's unpledged securities in the available-for-sale
portfolio totaled approximately $76.1 million and $35.5 million, respectively.

The total investment securities pledged for these purposes were as follows:


                                                                September 30,         December 31,
(in thousands)                                                      2022                  2021

Marketable securities pledged to guarantee:
Federal Reserve Bank loans

                                $      8,040          $     10,778
Federal funds purchased and securities sold under agreements
to repurchase                                                            8,513                28,769
Other deposits                                                         152,454               235,829
Total pledged, at fair value                                   $    169,007          $    275,376


Liquidity is available from the Company's base of core customer deposits,
defined as demand, interest checking, savings, money market deposit accounts,
and time deposits less than $250,000, less all brokered deposits under $250,000.
At September 30, 2022, such deposits totaled $1.4 billion and represented 90.8%
of the Company's total deposits. These core deposits are normally less volatile
and are often tied to other products of the Company through long lasting
relationships.

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Basic deposits at September 30, 2022 and December 31, 2021 were the following:


(in thousands)                 September 30, 2022       December 31, 2021
Core deposit base:
Non-interest bearing demand   $           498,653      $          453,066
Interest checking                         341,096                 357,825
Savings and money market                  448,411                 440,331
Other time deposits                       157,444                 175,827
Total                         $         1,445,604      $        1,427,049


Estimated uninsured deposits totaled $538.5 million, including $110.9 million of
certificates of deposit, at September 30, 2022, compared to $513.5 million,
including $69.1 million of certificates of deposit, at December 31, 2021. The
Company had brokered deposits totaling $36.1 million and $20.2 million at
September 30, 2022 and December 31, 2021, respectively.

Other components of liquidity are the level of borrowings from third-party
sources and the availability of future credit. The Company's outside borrowings
are comprised of securities sold under agreements to repurchase, Federal Home
Loan Bank advances, and subordinated notes. Federal funds purchased are
overnight borrowings obtained mainly from upstream correspondent banks with
which the Company maintains approved credit lines. As of September 30, 2022,
under agreements with these unaffiliated banks, the Bank may borrow up to
$60.0 million in federal funds on an unsecured basis and $7.6 million on a
secured basis. There were no federal funds purchased outstanding at
September 30, 2022. Securities sold under agreements to repurchase are generally
borrowed overnight and are secured by a portion of the Company's investment
portfolio. At September 30, 2022, there were $5.9 million in repurchase
agreements. The Company may periodically borrow additional short-term funds from
the Federal Reserve Bank through the discount window, although no such
borrowings were outstanding at September 30, 2022.

The Bank is a member of the Federal Home Loan Bank of Des Moines (FHLB) and has
access to credit products of the FHLB. As of September 30, 2022, the Bank had
$73.0 million in outstanding borrowings with the FHLB. In addition, the Company
has $49.5 million in outstanding subordinated notes issued to wholly-owned
grantor trusts, funded by preferred securities issued by the trusts.

Borrowings outstanding at September 30, 2022 and December 31, 2021 were as
follows:

                                                                September 30,         December 31,
(in thousands)                                                      2022                  2021
Borrowings:

Fed Funds Purchased and Securities Sold Under Repurchase Agreements

                                                  $      5,890          $     23,829
Federal Home Loan Bank advances                                         73,000                77,418
Subordinated notes                                                      49,486                49,486

Total                                                          $    128,376          $    150,733


The Company pledges certain assets, including loans and investment securities to
the Federal Reserve Bank, FHLB, and other correspondent banks as security to
establish lines of credit and borrow from these entities. Based on the type and
value of collateral pledged, the FHLB establishes a collateral value from which
the Company may draw advances against this collateral. This collateral is also
used to enable the FHLB to issue letters of credit in favor of public fund
depositors of the Company. The Federal Reserve Bank also establishes a
collateral value of assets pledged to support borrowings from the discount
window.

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The following table reflects the collateral value of pledged assets, borrowings and outstanding letters of credit, in addition to the estimated future funding capacity available to the Company, as follows:

                                                                        September 30, 2022                                                                                         December 31, 2021
                                                                                       Federal Funds                                                                                                Federal Funds
(in thousands)                        FHLB             Federal Reserve Bank           Purchased Lines                Total                      FHLB                Federal Reserve Bank           Purchased Lines                 Total
Advance equivalent               $       320,097       $               7,567       $              60,000       $          387,664       $             273,479       $              10,384       $              60,000       $           343,863
Letters of credit                     (53,500)                             -                           -            (53,500)                       (31,000)                             -                           -             (31,000)
Advances outstanding                  (73,000)                             -                           -            (73,000)                       (77,418)                             -                           -             (77,418)
Total available                  $       193,597       $               7,567       $              60,000       $          261,164       $             165,061       $              10,384       $              60,000       $           235,445


At September 30, 2022, loans of $636.5 million were pledged to the Federal Home
Loan Bank as collateral for borrowings and letters of credit. At September 30,
2022, investments with a market value of $8.0 million were pledged to secure
federal funds purchase lines and borrowing capacity at the Federal Reserve Bank.

Based upon the above, management believes the Company has more than adequate
liquidity, both on balance sheet and through the additional funding capacity
with the FHLB, the Federal Reserve Bank and Federal funds purchased lines to
meet future anticipated needs in both the short and long-term.

Sources and uses of funds


Cash and cash equivalents were $41.4 million at September 30, 2022 compared to
$159.9 million at December 31, 2021. The $118.5 million decrease resulted from
changes in the various cash flows produced by operating, investing, and
financing activities of the Company, as shown in the accompanying consolidated
statement of cash flows for the nine months ended September 30, 2022. Cash flow
provided from operating activities consists mainly of net income adjusted for
certain non-cash items. Operating activities provided cash flow of $14.2 million
for the nine months ended September 30, 2022.

Investing activities, consisting mainly of purchases, sales and maturities of
available-for-sale securities, and changes in the level of the loan portfolio,
used total cash of $180.3 million during the nine months ended September 30,
2022. The cash outflow primarily consisted of a net increase in loans held for
investment of $190.2 million and $17.3 million in purchases of investment
securities partially offset by $27.0 million from maturities and calls and sales
of investment securities.

Financing activities provided total cash of $47.6 million during the nine months
ended September 30, 2022, resulting primarily from a $76.0 million increase in
demand deposits, interest-bearing transaction accounts and time deposits. These
increases were partially offset by a $17.9 million decrease in securities sold
under agreements to repurchase.

In the normal course of business, the Company enters into certain forms of
off-balance sheet transactions, including unfunded loan commitments and letters
of credit. These transactions are managed through the Company's various risk
management processes. Management considers both on-balance sheet and off-balance
sheet transactions in its evaluation of the Company's liquidity. The Company had
$426.3 million in unused loan commitments and standby letters of credit as of
September 30, 2022. Although the Company's current liquidity resources are
adequate to fund this commitment level, the nature of these commitments is such
that the likelihood of such a funding demand is very low.

The Company is a legal entity, separate and distinct from the Bank, which must
provide its own liquidity to meet its operating needs. The Company's ongoing
liquidity needs primarily include funding its operating expenses, paying cash
dividends to its shareholders and, to a lesser extent, repurchasing its shares
of common stock. The Company paid cash dividends to its shareholders totaling
approximately $3.1 million and $2.6 million for the nine months ended
September 30, 2022 and 2021, respectively. A large portion of the Company's
liquidity is obtained from the Bank in the form of dividends. The Bank declared
and paid $9.0 million and $6.5 million in dividends to the Company during the
nine months ended September 30, 2022 and 2021, respectively. At September 30,
2022 and December 31, 2021, the Company had cash and cash equivalents totaling
$3.1 million and $1.8 million, respectively. Subject to declaration by the
Company's Board of Directors, the Company expects to continue paying quarterly
cash dividends as a part of its current capital allocation strategy. Future
dividends will be subject to the determination, declaration and discretion of
the Company's Board of Directors and compliance with applicable regulatory
capital requirements.

                                       55
--------------------------------------------------------------------------------

The Company's 2019 Repurchase Plan was amended during the second quarter 2021 to
authorize the purchase of up to an additional $5.0 million in market value of
the Company's common stock. Management was given discretion to determine the
number and pricing of the shares to be purchased, as well as the timing of any
such purchases. The Company repurchased 108,724 common shares under the plan
during the nine months ended September 30, 2022, at an average cost of $26.60
per share totaling $2.9 million.

The repurchases under these authorizations may be effectuated in the open
market, by block purchase, in privately negotiated transactions, or through
other transactions managed by broker-dealers, or any combination thereof. No
time limit was set for the completion of these authorized share repurchases. As
of September 30, 2022, $2.1 million remained available for the repurchase of
shares pursuant to the share repurchase authorizations. The Company may continue
to repurchase shares under its share repurchase authorizations, but the amount
and timing of such repurchases will be dependent on a number of factors,
including the price of its common stock and other cash flow needs. There is no
assurance that the Company will repurchase up to the full amount remaining under
its share repurchase authorizations.

capital management


The Company and the Bank are subject to various regulatory capital requirements
administered by federal and state banking agencies. Failure to meet minimum
capital requirements can initiate certain mandatory, and possibly additional
discretionary, actions by regulators that, if undertaken, could have a direct
material effect on the Company's consolidated financial statements. Under
capital adequacy guidelines, the Company and the Bank must meet specific capital
guidelines that involve quantitative measures of assets, liabilities, and
certain off-balance-sheet items as calculated under regulatory accounting
practices. The capital amounts and classification of the Company and the Bank
are subject to qualitative judgments by the regulators about components,
risk-weightings, and other factors.

The Basel III regulatory capital framework (the "Basel III Capital Rules")
adopted by U.S. federal regulatory authorities, among other things, (i)
establishes the capital measure called "Common Equity Tier 1" ("CET1"), (ii)
specifies that Tier 1 capital consist of CET1 and "Additional Tier 1 Capital"
instruments meeting stated requirements, (iii) requires that most
deductions/adjustments to regulatory capital measures be made to CET1 and not to
other components of capital and (iv) defines the scope of the
deductions/adjustments to the capital measures.

Additionally, the Basel III Capital Rules require that the Company maintain a
2.5% capital conservation buffer with respect to each of CET1, Tier 1 and total
capital to risk-weighted assets, which provides for capital levels that exceed
the minimum risk-based capital adequacy requirements. A financial institution
with a conservation buffer of less than the required amount is subject to
limitations on capital distributions, including dividend payments and stock
repurchases, and certain discretionary bonus payments to executive officers.

Quantitative measures established by regulation to ensure capital adequacy
require the Company and the Bank to maintain minimum amounts and ratios of CET1,
Tier 1 and total capital to risk-weighted assets, and of Tier 1 capital to
average assets, each as defined in the regulations. Management believes, as of
September 30, 2022, that the Company and the Bank meet all capital adequacy
requirements to which they are subject.

Financial institutions are categorized as well capitalized or adequately
capitalized, based on minimum total risk-based, Tier 1 risk-based, CET1 and Tier
1 leverage ratios. As shown in the table below, the Company's capital ratios
exceeded the regulatory definition of adequately capitalized as of September 30,
2022 and December 31, 2021. Based upon the information in its most recently
filed call report, the Bank met the capital ratios necessary to be
well-capitalized. The regulatory authorities can apply changes in classification
of assets and such changes may retroactively subject the Company to changes in
capital ratios. Any such change could reduce one or more capital ratios below
well-capitalized status. In addition, a change may result in imposition of
additional assessments by the FDIC or could result in regulatory actions that
could have a material effect on our condition and results of operations. In
addition, bank holding companies generally are required to maintain a Tier 1
leverage ratio of at least 4%.

Because the Bank had less than $15.0 billion in total consolidated assets as of
December 31, 2009, the Company is allowed to continue to classify its trust
preferred securities, all of which were issued prior to May 19, 2010, as Tier 1
capital.

                                       56
--------------------------------------------------------------------------------

Under the Basel III requirements, at September 30, 2022 and December 31, 2021,
the Company met all capital adequacy requirements and had regulatory capital
ratios in excess of the levels established for well-capitalized institutions, as
shown in the following table as of periods indicated:

                                                                               Minimum Capital Required - Basel III            Required to be 

Well considered-

                                                   Actual                                Fully Phased-In                                 Capitalized
(Dollars in thousands)                   Amount              Ratio                 Amount                 Ratio                  Amount                 

Report

September 30, 2022
Total Capital (to risk-weighted
assets):
Company                               $ 219,214                13.84  %       $      166,292                10.50  %       $       -                          N.A%
Bank                                       217,040             13.73  %                 165,928             10.50  %                  158,027             10.00  %
Tier 1 Capital (to risk-weighted
assets):
Company                               $ 194,017                12.25  %       $      134,617                 8.50  %       $       -                          N.A%
Bank                                       201,375             12.74  %                 134,323              8.50  %                  126,421              8.00  %
Common Equity Tier 1 Capital (to
risk-weighted assets):
Company                               $ 155,549                 9.82  %       $      110,861                 7.00  %       $       -                          N.A%
Bank                                       201,375             12.74  %                 110,619              7.00  %                  102,717              6.50  %
Tier 1 leverage ratio (to adjusted
average assets):
Company                               $ 194,017                10.60  %       $       73,184                 4.00  %       $       -                          N.A%
Bank                                       201,375             10.97  %                  73,443              4.00  %                   91,803              5.00  %

December 31, 2021
Total Capital (to risk-weighted
assets):
Company                               $ 210,726                14.79  %       $      149,640                10.50  %       $       -                          N.A%
Bank                                       210,148             14.78  %                 149,339             10.50  %                  142,228             10.00  %
Tier 1 Capital (to risk-weighted
assets):
Company                               $ 193,663                13.59  %       $      121,137                 8.50  %       $       -                          N.A%
Bank                                       193,085             13.58  %                 120,894              8.50  %                  113,782              8.00  %
Common Equity Tier 1 Capital (to
risk-weighted assets):
Company                               $ 145,663                10.22  %       $       99,760                 7.00  %       $       -                          N.A%
Bank                                       193,085             13.58  %                  99,559              7.00  %                   92,448              6.50  %
Tier 1 leverage ratio:
Company                               $ 193,663                11.01  %       $       70,342                 4.00  %       $       -                          N.A%
Bank                                       193,085             11.04  %                  69,959              4.00  %                   87,449              5.00  %


                                       57

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© Edgar Online, source Previews

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What disqualifies a candidate for a title loan? https://robertdejesus.com/what-disqualifies-a-candidate-for-a-title-loan/ Sat, 05 Nov 2022 00:38:44 +0000 https://robertdejesus.com/what-disqualifies-a-candidate-for-a-title-loan/ Why wouldn’t I qualify for a car title loan? There are two main requirements for a car title loan: First, applicants must have a certain amount of positive equity in their vehicle to borrow. Second, an applicant must demonstrate that they have the ability to afford a title loan and repay it. With these two […]]]>

Why wouldn’t I qualify for a car title loan?

There are two main requirements for a car title loan:

  1. First, applicants must have a certain amount of positive equity in their vehicle to borrow.
  2. Second, an applicant must demonstrate that they have the ability to afford a title loan and repay it.

With these two qualifications in mind, it is easy to understand what disqualifies a candidate for a title loan. The simple answer is that an applicant can be denied a car title loan if they don’t have enough equity in their vehicle to borrow, or if they can’t prove they can afford the loan. ready. If an applicant does not have a qualifying vehicle or income, they cannot receive the money they need through an online title loan.

But, what are the other reasons why an applicant may not be approved for a car title loan? Look more closely!

What can disqualify an applicant for a title loan?

So what disqualifies a candidate for a title loan? Before you can understand why a candidate may not be approved, it is important to understand how it works. Securities lending are short-term installment loans that allow you to use your car as collateral for financing. The car title is collateral for the loan, allowing you to access some of the equity in your car and turn it into cash.

Since the car is used as collateral for the loan, that is why the amount of equity is so important. The value of your car will determine your eligibility for the loan, as well as the potential loan amount. Typically, claimants can receive 25% to 50% of the value of their car, depending on:

  1. Their state of residence
  2. And their income/ability to repay the loan

Now that you know how title loans work, you may be able to understand how an applicant could be disqualified for a car title loan. Here are some of the main reasons a borrower could be disqualified:

  1. Their car does not have enough positive equity: Equity is the difference between the present value of the car and what is due. If you owe more than the car is worth, or if it is in poor condition, you may have negative equity and will not qualify for a car title loan.
  2. A lien is already placed on the car: If an applicant already has a lien on the car from an existing title loan, they may not be able to qualify for a title loan. However, if the applicant has only a few payments left, they may be able to get their current loan refinanced if they are not satisfied with their terms.
  3. Inability to repay the title loan: A borrower will need to have enough income for a lender to reasonably believe they can afford the loan. If a borrower is receiving disability benefits or is self-employed, they may still qualify for a car title loan, but they must have the confidence of the lender that they can afford it.

What do I need to qualify for a title loan?

If you are confident in your ability to repay a title loan, you may be wondering what you will need to qualify. Like any loan, you will need to provide some documents when you apply for the loan, which will notably prove your identity. Here’s what you’ll typically need to qualify for a car title loan:

  1. Proof of income through bank statements, pay stubs, etc.
  2. Proof of address by recent official mail, such as a utility bill

Now that I know what disqualifies a title loan applicant, how do I apply?

If you’re like most Americans, you appreciate the convenience of shopping online. You can do so much shopping online! Grocery shopping, buying clothes, and even buying a car can be done through your smartphone or computer. So why not apply for a car title loan online?

With some online securities lending options, it is possible to initiate your request via your smartphone or computer!

So why wait to see if you qualify for the financial assistance you need? With lending options like ChoiceCash Title Loans powered by LoanMart, you can access a convenient 3-step application process through your phone today. Just visit the website to get started and place your loan application online! Call 855-914-2945 to learn more about the title loan process and what you need to qualify.

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10 lenders who offer small personal loans https://robertdejesus.com/10-lenders-who-offer-small-personal-loans/ Tue, 01 Nov 2022 17:23:24 +0000 https://robertdejesus.com/10-lenders-who-offer-small-personal-loans/ Our goal at Credible Operations, Inc., NMLS Number 1681276, hereafter referred to as “Credible”, is to give you the tools and confidence you need to improve your finances. Although we promote the products of our partner lenders who pay us for our services, all opinions are our own. If you face an unexpected expense and […]]]>

Our goal at Credible Operations, Inc., NMLS Number 1681276, hereafter referred to as “Credible”, is to give you the tools and confidence you need to improve your finances. Although we promote the products of our partner lenders who pay us for our services, all opinions are our own.

If you face an unexpected expense and only need to borrow a little money, small personal loans can be beneficial. (Shutterstock)

If you need to borrow a small amount of money to consolidate debt, pay a medical bill, or cover a emergency expense, you may be considering a small personal loan. Small loans probably won’t earn the lender as much interest, so not all lenders offer them.

But many lenders offer personal loans for amounts of $5,000 or less. Here’s how small personal loans work and where to find them.

If you are looking for a small loan, Credible allows you to view your prequalified personal loan rates from various lenders, all in one place.

What is a small personal loan?

A small personal loan is generally considered to be a loan in the amount of $5,000 or less. You can use funds from a small loan for almost any expense, including debt consolidation, car repairs, medical expenses or vacations.

Small personal loans are installment loans. You will receive the funds in a lump sum and then make fixed monthly payments (including interest) towards the balance over a set period of time.

In most cases, small personal loans are unsecured, so they don’t require you to post any asset as collateral. If you have bad credit, you may qualify for a secured loan, which would require collateral, such as your car or a savings account.

If you have little or no credit history, or if your rating is not what you would like it to be, it may be more difficult to qualify for a small personal loan. Many lenders work with borrowers with bad credit, but you’ll pay a higher interest rate to borrow money than someone with good credit.

You can find small personal loans from banks, credit unions and online lenders.

Types of small loans to avoid

When money is tight, it’s tempting to take advantage of any loan offer you receive. But you should avoid these types of small loans if possible:

  • Payday loan – Payday loans are small, short-term loans that are usually due before your next payday. Payday lenders do not consider your ability to repay the loan. They also charge exorbitant fees and interest, which can amount to an annual percentage rate (APR) of 400%, according to the Consumer Financial Protection Bureau.
  • Title loan — With a title loan, the lender requires the title to your car as collateral. If you are unable to repay the loan, the lender may repossess your vehicle to pay off the debt. Title loans have short repayment terms (usually within 30 days) and come with high fees and interest rates.
  • 401(k) loan — If you have a 401(k) plan, you may be able to borrow funds from the account. But if you withdraw money from your 401(k) before age 59½, you’ll pay a penalty on the withdrawal and may owe taxes on the funds you use. You may also have to repay the loan in full if you leave your current job.

10 Lenders Who Offer Personal Loans Under $5,000

If you’re looking for a small personal loan, these 10 credible partner lenders are a good place to start:

Before

  • Minimum loan amount: $2,000
  • Minimum credit score: 550
  • Good for: Borrowers with bad credit who need a loan fast

Discover

  • Minimum loan amount: $2,500
  • Minimum credit score: 660
  • Good for: Borrowers looking for longer repayment periods and no loan origination fees

loan club

  • Minimum loan amount: $1,000
  • Minimum credit score: 600
  • Good for: Borrowers who wish to apply with a co-signer

LendingPoint

  • Minimum loan amount: $2,000
  • Minimum credit score: 580
  • Good for: Borrowers with subprime credit scores and a minimum income of $20,000

OneMain Financial

  • Minimum loan amount: $1,500
  • Minimum credit score: None
  • Good for: Borrowers with bad credit who have collateral

PenFed

  • Minimum loan amount: $600
  • Minimum credit score: 660
  • Good for: Borrowers who want smaller loan amounts

Prosper

  • Minimum loan amount: $2,000
  • Minimum credit score: 640
  • Good for: Low-income borrowers with fair credit scores

Universal Credit

  • Minimum loan amount: $1,000
  • Minimum credit score: 560
  • Good for: Borrowers with bad credit who would use free credit monitoring

Upgrade

  • Minimum loan amount: $1,000
  • Minimum credit score: 560
  • Good for: Borrowers with fair credit ratings looking to rebuild their credit

Reached

  • Minimum loan amount: $1,000
  • Minimum credit score: 580
  • Good for: Borrowers who have a good education and work history

Visit Credible for compare personal loan rates from various lenders, without affecting your credit score.

Advantages and disadvantages of small personal loans

Small personal loans have advantages and disadvantages to consider before applying.

Advantages of small personal loans

Disadvantages of small personal loans

  • Higher interest rates than larger loans — Lenders may charge higher interest rates for smaller loans to increase their income on the money you borrow.
  • Can pay fees — Some lenders charge origination fees for loan processing or late payment fees. Read the fine print and factor the fees charged by the lender into the total cost of your loan.
  • Take the risk of taking on more debt — If you’re using a personal loan to consolidate your debt, it can be tempting to spend on your newly paid off credit cards, putting you in more debt.

How to Apply for a Personal Loan Under $5,000

Once you’ve decided you’re ready to apply for a personal loan, follow these five steps:

  1. Create a budget. Decide how much you want to borrow and how much you can afford to repay each month. This will help you not to overwork yourself.
  2. Compare rates from several lenders. The best way to save money when borrowing is to compare the rates and terms of multiple lenders to make sure you get the best deal for your situation.
  3. Gather financial information. You’ll want to have your personal information ready before you apply, including proof of income, address, and identification. If you have a co-signer, you will also need their information.
  4. Complete the application. Once you have chosen the lender you wish to work with, complete the application. If you apply online, you may have a decision in minutes.
  5. Set a payment date that works for you and start making payments on your loan. If you are approved for a loan, you will sign a loan agreement and the lender will disburse your loan funds. Many lenders allow you to choose your payment due date. Choose a date that suits your budget. You might even be able to save on interest if you opt for automatic payments.

If you’re ready to apply for a small loan, Credible makes it quick and easy compare personal loan rates to find the one that suits your needs.

]]> SouthState Corporation – Consensus Indicates 14.7% Upside Potential https://robertdejesus.com/southstate-corporation-consensus-indicates-14-7-upside-potential/ Sun, 30 Oct 2022 13:45:21 +0000 https://robertdejesus.com/southstate-corporation-consensus-indicates-14-7-upside-potential/ Southern State Corporation with ticker code (SSB) now have 7 analysts covering the stock with the consensus suggesting a buy rating. The target price ranges between 110 and 88 calculating the average target price we see 100.14. Together with the stock’s previous close at 87.27, this would indicate that there is upside potential of 14.7%. […]]]>

Southern State Corporation with ticker code (SSB) now have 7 analysts covering the stock with the consensus suggesting a buy rating. The target price ranges between 110 and 88 calculating the average target price we see 100.14. Together with the stock’s previous close at 87.27, this would indicate that there is upside potential of 14.7%. The 50-day MA is at 82.39 and the 200 moving average is now moving to 81.64. The market cap of the company is $6,808 million. You can visit the company’s website by visiting: https://www.southstatebank.com

The potential market capitalization would be $7,812 million based on market consensus.

You can now share it on Stocktwits, just click on the logo below and add the ticker in the text to be seen.

SouthState Corporation operates as a bank holding company for SouthState Bank, a National Association which provides a range of personal and business banking services and products. It accepts checking accounts, savings deposits, interest-bearing transaction accounts, certificates of deposit, money market accounts, and other term deposits. The company also offers commercial real estate loans, residential real estate loans, commercial and industrial loans, and consumer loans, including auto, boat and personal installment loans. In addition, it provides debit cards, mobile and money transfer products, as well as cash management services including merchant, automated clearing house, safe deposit box, remote deposit capture and cash management services. other treasury services. In addition, the Company offers safe deposit boxes, money orders, electronic transfers, brokerage services and alternative investment products, including annuities, mutual funds and trust and investment management services. assets ; and credit cards, letters of credit and home equity lines of credit. As of December 31, 2021, it served customers at 281 branches in Florida, South Carolina, Alabama, Georgia, North Carolina and Virginia. SouthState Corporation also serves its customers through online, mobile and telephone banking platforms. The company was formerly known as First Financial Holdings and changed its name to SouthState Corporation in July 2013. SouthState Corporation was founded in 1933 and is headquartered in Winter Haven, Florida.

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Braven receives $1 million investment from Barclays https://robertdejesus.com/braven-receives-1-million-investment-from-barclays/ Thu, 27 Oct 2022 13:47:00 +0000 https://robertdejesus.com/braven-receives-1-million-investment-from-barclays/ With this financial support, Barclays becomes one of Braven’s deepest and fastest growing partners, helping more than 4,200 students attending HBCUs and HSIs on their path to economic mobility. CHICAGO, October 27, 2022 /PRNewswire/ — Courageous, a not-for-profit organisation, today announced that it has received a significant two-year commitment from Barclays to support its mission […]]]>

With this financial support, Barclays becomes one of Braven’s deepest and fastest growing partners, helping more than 4,200 students attending HBCUs and HSIs on their path to economic mobility.

CHICAGO, October 27, 2022 /PRNewswire/ — Courageous, a not-for-profit organisation, today announced that it has received a significant two-year commitment from Barclays to support its mission to close the gap between education and employment in higher education. Thanks to Barclays’ financial investment of $1 million and the addition of mentorship from Barclays colleagues, Braven will be able to develop more than 4,200 four-year university students and help more than 650 graduates find employment over the next two years. With this support, Barclays becomes one of Braven’s all-time largest contributors, as well as a founding funder of a proposed new partnership with Delaware State University. Yesterday, Braven and State of Delaware signed a letter of intent outlining their respective commitment.

The bank’s ongoing partnership with Braven helps Barclays deliver on its citizenship ambition to enable people to develop the skills and opportunities they need to find work. This is another example of the bank’s commitment to promoting social equity in local communities.

“We are extremely grateful for the support from Barclays,” Aimée said. Eubanks Davis, Founder and CEO of Braven. “This is invaluable as we work to expand our impact across our existing sites of New Jersey, New York, Atlantaand a partnership project with Delaware State Universityto help thousands more students on their path to economic success and the freedom it brings.”

Braven gives promising and underrepresented students the skills, confidence, experiences, and networks to transition from college into solid first jobs that lead to meaningful careers and lives. To date, Braven has worked with 5,100 students at five universities (Rutgers-Newark UniversitySan Jose State, Lehman College, Louis National Universityand Spelman College). This year, Braven announced new partnerships with Northern Illinois University and the New York City College and continues to expand into new markets with the support of champions like Barclays.

“Braven helped me understand my passions, what I wanted to do, and develop the skills, networks, and experiences I needed,” said Jamila RitterAssistant Vice President at Barclays, current Braven leadership coach and Braven alumnus of Rutgers-Newark University. “Through Braven’s support and training, I was equipped with the skills to land a solid job at Barclays with a career path, and now I’m passing it on to the next generation.”

In addition to this financial contribution, Barclays colleagues volunteer to support Braven Fellows. They serve as mentors and leadership coaches, volunteering several hours a week for 15 weeks to help Fellows develop their leadership skills in a variety of professional skills. Barclays also sponsors a Capstone Challenge, where fellows compete in a design brainstorming sprint that culminates in a pitch competition addressing the company’s most pressing pain points. Barclays has hired several Braven Fellows and is committed to expanding opportunities for Braven alumni within the company.

“We are proud to partner with Braven, an organization working to build a better future for the next generation,” shared Deborah Goldfarb, Global Head of Citizenship at Barclays. “By equipping college students attending HBCUs and public universities with the skills and networks needed to successfully find employment, we are helping to create a diverse and more equitable talent pool and workforce.”

Braven Fellows exceed the national average for strong professional achievement both before and during the pandemic. Within six months of graduating, 61% of Braven 2021 graduates secured quality full-time jobs worthy of their bachelor’s degree or enrolled in graduate school, compared to 54% of all graduates and 46% students from similar backgrounds. Additionally, 64% of Braven college graduates have at least one college internship, compared to 55% of all college graduates and 53% of students from similar backgrounds.

For more information on Braven, visit bebraven.org. If you are interested in getting involved, sign up to become a volunteer.

About Barclays US Consumer Bank

Barclays US Consumer Bank is a leading co-branded credit card issuer and financial services partner in United States who creates highly personalized programs to drive customer loyalty and engagement for some of the nation’s most successful travel, entertainment, retail and affinity institutions. The bank offers co-branded, small business and private label credit cards, installment loans, online savings accounts and CDs. For more information, please visit www.BarclaysUS.com.

Barclays is a UK universal bank, diversified by business, different types of customers, customers and geography. The businesses include worldwide consumer and payment banking operations, as well as a leading, full-service global corporate and investment bank, all of which are backed by its services company which provides the technology, operations and functional services across the Group. . For more information about Barclays, please visit www.Barclays.com.

About Braven

Founded in 2013, Braven empowers promising and underrepresented young people — first-generation college students, students from low-income backgrounds, and students of color — with the skills, confidence, experiences, and networks needed to transition from college to a solid first job. Braven is embedded in institutions of higher education and partners with employers to integrate cutting-edge professional training into the undergraduate experience. Braven Fellows persist in college and reach exciting levels of internship and employment. For more information on Braven, visit BEBRAVEN.ORG.

SOURCEBarclays; Courageous

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Banco de Chile (NYSE:BCH) upgraded to buy on StockNews.com https://robertdejesus.com/banco-de-chile-nysebch-upgraded-to-buy-on-stocknews-com/ Sun, 23 Oct 2022 03:12:13 +0000 https://robertdejesus.com/banco-de-chile-nysebch-upgraded-to-buy-on-stocknews-com/ Bank of Chile (NYSE: BCH – Get a rating) has been upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday. Separately, Credit Suisse Group lowered its price target on Banco de Chile shares to $21.00 in a Monday, August 22 research report. Four investment analysts […]]]>

Bank of Chile (NYSE: BCHGet a rating) has been upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

Separately, Credit Suisse Group lowered its price target on Banco de Chile shares to $21.00 in a Monday, August 22 research report. Four investment analysts gave the stock a hold rating and four gave the stock a buy rating. According to data from MarketBeat.com, Banco de Chile currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.00.

Banco de Chile trades up 1.7%

NYSE: BCH traded at $0.31 during Friday trading hours, hitting $18.05. The stock recorded a trading volume of 221,027 shares, compared to an average volume of 152,319 shares. The company has a market capitalization of $9.12 billion, a price/earnings ratio of 5.34, a P/E/G ratio of 0.80 and a beta of 0.38. Banco de Chile has a one-year low of $15.60 and a one-year high of $22.74. The company has a debt ratio of 3.17, a quick ratio of 1.46 and a current ratio of 1.46. The company’s 50-day moving average is $18.62 and its 200-day moving average is $19.20.

Bank of Chile (NYSE: BCHGet a rating) last announced its quarterly results on Friday, July 29. The bank reported earnings per share of $1.03 for the quarter, beating consensus analyst estimates of $0.63 by $0.40. The company posted revenue of $580.90 million for the quarter, versus analyst estimates of $792.40 million. Banco de Chile had a net margin of 49.07% and a return on equity of 32.11%. Sell-side analysts expect Banco de Chile to post EPS of 2.84 for the current fiscal year.

Institutional investors weigh on Banco de Chile

A number of institutional investors have recently increased or reduced their stake in BCH. TCW Group Inc. purchased a new stake in shares of Banco de Chile in Q1 worth approximately $290,000. Whittier Trust Co. acquired a new stake in Banco de Chile during Q1 valued at approximately $230,000. Envestnet Asset Management Inc. increased its position in Banco de Chile by 107.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 21,082 shares of the bank valued at $452,000 after purchasing an additional 10,935 shares during the period. Crossmark Global Holdings Inc. increased its stake in Banco de Chile by 2.6% in the 1st quarter. Crossmark Global Holdings Inc. now owns 24,372 shares of the bank worth $522,000 after buying 612 additional shares in the last quarter. Finally, Banco BTG Pactual SA acquired a new position in Banco de Chile shares in Q1 worth approximately $3,268,000. 1.10% of the shares are held by institutional investors.

About Banco de Chile

(Get a rating)

Banco de Chile, together with its subsidiaries, provides banking and financial products and services to customers in Chile. It operates through retail banking, wholesale banking and cash and money market segments. The Company offers deposit products, such as checking accounts, current accounts, deposits and current accounts, savings accounts and term deposits; commercial, mortgage, consumer, working capital, syndicated and installment loans; and credit cards.

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Analyst Recommendations for Banco de Chile (NYSE: BCH)

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Mercantile Bank Corp down 1.04% to $32.37 after earnings beat https://robertdejesus.com/mercantile-bank-corp-down-1-04-to-32-37-after-earnings-beat/ Tue, 18 Oct 2022 17:57:37 +0000 https://robertdejesus.com/mercantile-bank-corp-down-1-04-to-32-37-after-earnings-beat/ Mercantile Bank Corp (MBWM) said ahead of Tuesday’s open that it earned $1.01 per share in the third quarter of 2022. As for revenue, the company reported $49.6 million, beating estimates of $1.9 million. In the same quarter a year ago, the company earned $0.95 per share on revenue of $46.7 million. The stock is […]]]>

Mercantile Bank Corp (MBWM) said ahead of Tuesday’s open that it earned $1.01 per share in the third quarter of 2022.

As for revenue, the company reported $49.6 million, beating estimates of $1.9 million.

In the same quarter a year ago, the company earned $0.95 per share on revenue of $46.7 million.

The stock is down 1.04% at $32.37 after the report.

Mercantile Bank Corp’s profits rose faster than revenue, signaling widening profit margins.

The average recommendation from Wall Street analysts was a buy that could be revised based on this new data.

InvestorsObserver gives the stock a bullish sentiment score at the moment based on recent trades.

Mercantile Bank Corp has performed slightly above average in recent months. Ahead of the report, Mercantile Bank Corp received a long-term technical ranking by InvestorsObserver of 71, putting it in the top half of the stock. The company was recently trading at a 52-week low of $29.26 on September 29, 2022 and set a 52-week high on January 19, 2022 at $40.01.

Mercantile Bank Corp operates as a bank holding company. The bank provides a variety of commercial banking services to individuals, businesses, government units and other institutions. It provides banking services offering deposit products, including checking accounts, savings accounts and term certificates, as well as lending products, including commercial loans, residential mortgages and installment loans. The company generates income from interest and dividends earned on loans, securities and other financial instruments.

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