Before the opening bell on Wednesday, Bank of America (BAC) reported its fourth quarter earnings, posting higher net income and revenue than last year’s Q4 results.
BAC Earnings in Brief
Bank of America posted quarterly revenues of $21.7 billion, up significantly from last year’s Q4 revenues of $18.9 billion. The company’s net income was also up considerably, coming in at $3.439 billion for the most recent quarter from last year’s Q4 figure of $732 million. EPS came in at 29 cents, which was up from last year’s Q4 EPS of 3 cents. BAC beat analysts’ estimates of 26 cents EPS on revenues of $21.24 billion. For the full year, BAC posted revenues of $89.8 billion, net income of $11.4 billion and EPS of 90 cents; all of these figures were significantly higher than 2012′s results.CEO and CFO Commentary
Top 10 Railroad Stocks To Own For 2015: Western Alliance Bancorporation (WAL)
Western Alliance Bancorporation (WAL) is a bank holding company. The Company provides full-service banking and lending to locally owned businesses, professional firms, real estate developers and investors, local non-profit organizations, high net worth individuals and other consumers through its three wholly owned subsidiary banks (the Banks): Bank of Nevada (BON), operating in Southern Nevada; Western Alliance Bank (WAB), operating in Arizona and Northern Nevada, and Torrey Pines Bank (TPB), operating in California. In addition, the Company�� non-bank subsidiaries, Shine Investment Advisory Services, Inc. (Shine) and Western Alliance Equipment Finance (WAEF), offer an array of financial products and services to small to mid-sized businesses and their proprietors, including financial planning, custody and investments, and equipment leasing nationwide. It operates in four segments: Bank of Nevada, Western Alliance Bank, Torrey Pines Bank and Other.
The Company provides a range of banking services, as well as investment advisory services, through its consolidated subsidiaries. As of December 31, 2011, WAL owned an 80% interest in Shine. As of December 31, 2011, the Company owned a 24.9% interest in Miller/Russell & Associates, Inc. (MRA), an investment advisor. MRA provides investment advisory services to individuals, foundations, retirement plans and corporations.
Lending Activities
Through the Company�� banking segments, the Company provides a variety of financial services to customers, including commercial real estate loans, construction and land development loans, commercial loans, and consumer loans. Loans to businesses consisted 89.2% of the total loan portfolio at December 31, 2011. Loans to finance the purchase or refinancing of commercial real estate (CRE) and loans to finance inventory and working capital that are additionally secured by CRE make up the majority of its loan portfolio. These CRE loans are secured by apartment buildings, professional of! fices, industrial facilities, retail centers and other commercial properties. As of December 31, 2011, 49% of its CRE loans were owner-occupied. Owner-occupied commercial real estate loans are loans secured by owner-occupied nonfarm nonresidential properties for which the primary source of repayment (more than 50%) is the cash flow from the ongoing operations and activities conducted by the borrower who owns the property. Non-owner-occupied commercial real estate loans are commercial real estate loans for which the primary source of repayment is nonaffiliated rental income associated with the collateral property.
Construction and land development loans include multi-family apartment projects, industrial/warehouse properties, office buildings, retail centers and medical facilities. Commercial and industrial loans include working capital lines of credit, inventory and accounts receivable lines, mortgage warehouse lines, equipment loans and leases, and other commercial loans. Commercial loans are primarily originated to small and medium-sized businesses in a variety of industries. Consumer loans are generally offered at a higher rate and shorter term than residential mortgages. Its consumer loans include home equity loans and lines of credit, home improvement loans, credit card loans, and personal lines of credit. As of December 31, 2011, its loan portfolio totaled $4.68 billion, or approximately 68.4% of its total assets.
Investment Activities
All of the Company�� investment securities are classified as available-for-sale (AFS) or held-to-maturity (HTM). As of December 31, 2011, the Company had an investment securities portfolio of $1.48 billion, representing approximately 21.7% of its total assets. As of December 31, 2011, its investment securities portfolio consisted of the United States Government sponsored agency securities, Municipal obligations, Adjustable-rate preferred stock, Mutual funds, Corporate bonds, Direct the United States obligation and government-! sponsored! enterprise (GSE) residential mortgage-backed securities, private label residential mortgage-backed securities, Community Reinvestment Act (CRA) investments, Trust preferred securities, Private label commercial mortgage-backed securities, and Collateralized debt obligations.
Sources of Funds
The Company offers a variety of deposit products, including checking accounts, savings accounts, money market accounts and other types of deposit accounts, including fixed-rate, fixed maturity retail certificates of deposit. As of December 31, 2011, the deposit portfolio consisted of 27.5% non-interest bearing deposits and 72.5% interest-bearing deposits. Non-interest bearing deposits consist of non-interest bearing checking account balances. In addition to its deposit base, it has access to other sources of funding, including Federal Home Loan Bank (FHLB) and Federal Reserve Bank (FRB) advances, repurchase agreements and unsecured lines of credit with other financial institutions.
Financial Products and Services
In addition to traditional commercial banking activities, the Company offers other financial services to customers, including Internet banking, wire transfers, electronic bill payment, lock box services, courier, and cash management services. Through Shine, a full-service financial advisory firm, the Company offers financial planning and investment management.
Advisors' Opinion:- [By Investment Biker]
Investment Summary: This article is on Western Alliance Bancorporation (WAL), a growth-oriented commercial lender in the Southwest. The banks looks set to improve profitability supported by economic recovery in Last Vegas, industry-leading revenue performance and operating leverage supported by expense control. The credit profile of the bank looks excellent with limited exposure to residential mortgage and well poised to grow its loan portfolio by 20% annually over the next 3 years. It is also well set on a path to credit recovery with improving fundamentals that justifies premium valuation going forward.
Hot Bank Companies To Own In Right Now: SBT Bancorp Inc (SBTB)
SBT Bancorp, Inc., incorporated on February 17, 2006, is the holding company for The Simsbury Bank & Trust Company, Inc. (the Bank). The Bank provides a variety of banking and investment services. The Bank has branch offices in the towns of Granby, Avon, and Bloomfield, Connecticut. The Bank also maintains a mortgage center in Canton, Connecticut. Services to the Bank�� customers are also provided through SBT Online Internet banking. The Bank's customer base consists primarily of individual consumers and small businesses in north central Connecticut. The Bank has in excess of 21,000 deposit accounts. In January 2011, the Bank formed Simsbury Bank Passive Investment Company, a subsidiary of Passive Investment Company (PIC).
During the year ended December 31, 2011, the Bank had seven automated teller machines (ATMs); two are located at each of its main office and its Bloomfield office, and one at each of the other branch/business offices. The Bank offers a range of commercial banking services to residents and businesses in its primary and secondary markets through a variety of commercial loans and residential mortgage programs, as well as home equity lines and loans, Federal Deposit Insurance Corporation (FDIC)-insured checking, savings, and individual retirement accounts (IRA), 401K rollover accounts, as well as safe deposit and other customary non-deposit banking services. The Bank offers investment products to customers through SBT Investment Services, Inc., a wholly owned subsidiary of the Bank, and through its affiliation with the securities broker/dealer LPL Financial Corporation.
Lending Activities
The Bank�� commercial loans are made for the purpose of providing working capital, financing the purchase of equipment, or for other business purposes. Such loans include loans with maturities ranging from thirty days to two years and term loans, which are loans with maturities normally ranging from 1 to 10 years. Short-term business loans are generally inten! ded to finance current transactions and typically provide for periodic principal payments, with interest payable monthly. Term loans normally provide for fixed or floating interest rates, with monthly payments of both principal and interest. The Bank�� construction loans are primarily interim loans made to finance the construction of commercial and single-family residential property. These loans are typically short-term. The Bank occasionally will make loans for speculative housing construction or for acquisition and development of raw land. Consumer loans are made for the purpose of financing automobiles, various types of consumer goods, and other personal purposes.
Investment Activities
As of December 31, 2011, the Bank�� investment portfolio consisted of the United States Government and agency securities, mortgage-backed securities, corporate bonds, municipal securities, and money market mutual funds. During 2011, proceeds from sales of available-for-sale securities amounted to $8,274,474.
Sources of Funds
Deposits are the Bank�� primary source of funds. At December 31, 2011, the Bank had a deposit mix of 43% checking, 34% savings, and 23% certificates of deposit. Thirty percent of the total deposits of $344.8 million were noninterest bearing at December 31, 2011. The Bank had brokered deposits of $9,017,198 as of December 31, 2011.
The Company competes with Bank of America, Webster Bank, People�� Bank, Windsor Federal Savings And Loan Association and Wells Fargo Bank.
Advisors' Opinion:- [By CRWE]
Today, SBTB remains (0.00%) +0.000 at $28.20 thus far (ref. google finance Delayed: 3:47PM EDT July 30, 2013).
SBT Bancorp, Inc., previously reported net income of $401,000 or $0.43 per diluted share for the second quarter of 2013, compared to $453,000 or $0.49 per diluted share for the second quarter of 2012.
For the six months ended June 30, 2013, net income amounted to $918,000, or $0.99 per diluted share. This compares to net income of $934,000 or $0.96 per diluted share for the six months ended June 30, 2012. Total assets on June 30, 2013 were $382 million compared to $340 million on June 30, 2012. 12
Hot Bank Companies To Own In Right Now: Trico Bancshares (TCBK)
TriCo Bancshares (TriCo), incorporated on October 13, 1981, is a bank holding company that operates through its wholly owned subsidiary, Tri Counties Bank (the Bank). The Bank conducts a commercial banking business, including accepting demand, savings and time deposits, and making commercial, real estate and consumer loans. It also offers installment note collection, issues cashier's checks, sells travelers checks, and provides safe deposit boxes and other customary banking services. Brokerage services are provided at the Bank's offices by the Bank's association with Raymond James Financial Services, Inc., an independent financial services provider and broker-dealer. The Bank does not offer trust services or international banking services. Tri Counties Bank, TriCo Capital Trust I and TriCo Capital Trust II are the subsidiaries of the Bank. On September 23, 2011, the Bank acquired Bank of Northern California.
The Company is engaged in the banking business through 68 offices in 23 counties in Northern and Central California including ten offices in Shasta County, nine in Butte County, seven in Sacramento and Nevada Counties, six in Placer County, four in Stanislaus County, three each in Siskiyou, Sutter and Kern Counties, two each in Glenn and Yolo Counties, and one each in Contra Costa, Del Norte, Fresno, Lake, Lassen, Madera, Mendocino, Merced, Napa, Tehama, Tulare, and Yuba Counties. The Bank�� 76 automated teller machines (ATMs) are linked to several national and regional networks, such as CIRRUS and STAR. In addition, banking by telephone on a around-the-clock toll-free number is available to all customers. This service allows a customer to obtain account balances and most recent transactions, transfer moneys between accounts, make loan payments and obtain interest rate information. The Bank emphasizes on retail banking. Most of the Bank's customers are retail customers and small to medium-sized businesses. The Bank emphasizes serving the needs of local businesses, farmers and ranche! rs, retired individuals and wage earners.
Lending activities
The Bank conducts a commercial banking business, including accepting demand, savings and time deposits and making commercial, real estate, and consumer loans. It also offers installment note collection, issues cashier�� checks, sells travelers checks and provides safe deposit boxes and other customary banking services. Brokerage services are provided at the Bank�� offices by the Bank�� association with Raymond James Financial Services, Inc., an independent financial services provider and broker-dealer. The Bank concentrates its lending activities in four principal areas: real estate mortgage loans (residential and commercial loans), consumer loans, commercial loans (including agricultural loans), and real estate construction loans. The majority of the Bank�� loans are direct loans made to individuals, farmers and local businesses.
As of December 31, 2011 loans, including net deferred loan costs, totaled $1,551,032,000. As of December 31, 2011, total Real estate mortgage loans net deferred loan costs, were $ 965,922,000; total consumer loans were $ 406,330,000; total commercial loans were $ 139,131,000, and real estate construction loans were $ 39,649.
Investment Activities
The Bank classifies its investments as available for sale (AFS). As of December 31, 2011, investments consisted of corporate debt and debt securities of the United States government. As of December 31, 2011, the Bank�� securities portfolio consisted of obligations of the United States Government corporations and agencies, obligations of states and political subdivisions, and corporate bonds.
Sources of Funds
Most of the Bank's deposits are attracted from individuals and business-related sources. The various types of deposits offered by the Bank include non-interest-bearing demand deposits, interest-bearing demand deposits, savings deposits, time certificates of $100,000 and o! ver, and ! other time certificates. As of December 31, 2011, the Bank�� deposits totaled $ 2,190,536. The Bank participates in a deposit program offered by the State of California whereby the State may make deposits at the Bank�� request subject to collateral and creditworthiness constraints.
The Company had $8,527,000 of other collateralized borrowings as of December 31, 2011. The Company maintains a collateralized line of credit with the Federal Home Loan Bank of San Francisco. Other collateralized borrowings are generally overnight maturity borrowings from non-financial institutions that are collateralized by securities owned by the Company. The Bank had available unused correspondent banking lines of credit from commercial banks totaling $5,000,000 for federal funds transactions as of December 31, 2011.
Advisors' Opinion:- [By Rich Duprey]
California-based�TriCo Bancshares (NASDAQ: TCBK ) announced today its second-quarter dividend of $0.11 per share, a 22% increase over the $0.09 per share payout it made last quarter.
Hot Bank Companies To Own In Right Now: Deutsche Bank AG (SBND)
Deutsche Bank AG is a global investment bank. The Company offers a variety of investment, financial and related products and services to private individuals, corporate entities and institutional clients around the world. The Company operates through such divisions as: Private and Business Clients, Asset and Wealth Management, Corporate Banking and Securities, Global Transaction Banking and Non-Core Operations Unit. Deutsche Bank AG is active domestically and in various countries, through the network of numerous branches. In February 2014, the Company and its related bodies corporate ceases to a share holder in the capital of the Company. Advisors' Opinion:- [By Donald van Deventer]
Long-duration Treasury Exchange-Traded Funds: (TLH), , (IEF), (DTYL), (DLBL), (ILTB), (TENZ), (ITE), (TLO), (EDV), (VGIT), (VGLT), (TMF), (TYD), (LBND), (UBT), (UST), (TMV), (TYO), (DSTJ), (DSXJ), (SBND), (PST), (DTYS), (DLBS), (TBF), (TTT), (TYNS), (TYBS), (TBX).
Hot Bank Companies To Own In Right Now: MFC Industrial Ltd (MIL)
MFC Industrial Ltd., formerly Terra Nova Royalty Corp., is a global commodity supply chain company that sources and delivers commodities and materials to clients all over the world. The Company is engaged in the financing and risk management aspect of the business. The Company operates in three segments: commodities and resources, which includes its commodities activities and mineral interests; merchant banking, which includes structured solutions, logistics and financial services and investing activities, and other, which encompasses its corporate and other investments and business interests, including its medical supplies and servicing business. In December 2011, the Company acquired Pea Ridge Iron Ore Mine in Missouri, the Unites States of America. In September 2012, its indirect wholly owned subsidiary acquired the remaining interest in Compton Petroleum Corporation. In November, 2012, it acquired 70% interest in Park Ridge, NJ-based ACC Resources Co., L.P. (ACCR) and 60% interest in Mexico City-based Possehl Mexico S.A. de C.V. (Possehl). In April 2013, 0915988 BC Ltd acquired the entire share capital of MFC Industrial Ltd.
Commodities and Resources
The Company�� supply chain business is globally focused and includes its integrated commodities operations and its mineral interests. It conducts such operations primarily through its subsidiaries based in Vienna, Austria and supply various commodities, including minerals and metals, chemicals, plastics and wood products to its customers. Through its global commodity supply chain business, it also provides logistics, supply chain management and other services to producers and consumers of commodities. Its commodities operations include sourcing and supplying commodities. The Company sources its commodities from Asia, Africa, Europe, Australia, the United States and the Middle East. Its commodities sales include the European, Middle Eastern, Asian and North and South American markets.
Merchant Banking
The Company�� merchant banking operations include merchant banking and financial services, specialized banking, third-party financing and other services, investing and its real property. Its activities include making investments through investing its own capital to capture investment opportunities. The Company focuses on meeting the financial needs of small to mid-sized companies and other business enterprises primarily in Europe and Asia. Its merchant banking business generates revenues in the form of corporate and trade finance service fees and interest income. It also realizes gains from time to time on its investments, upon their sale, the execution of an equity or debt .
Other
Its other segment include its corporate and other investments, It includes financing joint ventures through its Shanghai, China-based subsidiary which provides medical services, equipment and supplies.
Advisors' Opinion:- [By Tim Melvin]
Just last week I went around the world with a stock screener to see if any cheap and appealing stocks appeared. At the top of my international buy list right now is Canada-based�MFC Industrial (MIL). MIL has also shown up on my screen for “perfect stocks” since it trades below book value, is profitable and pays a dividend.
- [By Rich Duprey]
Global commodity supply chain company�MFC Industrial (NYSE: MIL ) announced yesterday its third-quarter dividend of $0.06 per share, the same rate it's paid for the past year.
Hot Bank Companies To Own In Right Now: Strategem Capital Corp (SGE)
Strategem Capital Corporation (Strategem) is a Canada-based company. It is a publicly-traded merchant bank involved in acquiring interests in and developing companies. The Company takes early debt and/or equity positions in such emerging growth companies. As of December 31, 2009, the Company is focused on companies that explore or develop precious or base metals. Advisors' Opinion:- [By Corinne Gretler]
ThyssenKrupp AG (TKA) slumped 9.3 percent after Germany�� largest steelmaker raised 882.3 million euros ($1.21 billion) through a share sale. Standard Chartered Plc lost 8.1 percent. Sage Group (SGE) Plc, the U.K.�� biggest software maker, rose 6.8 percent after reporting revenue growth that exceeded analysts��estimates. AZ Electronic Materials SA surged 43 percent after Merck KGaA (MRK) agreed to buy it for about 1.6 billion pounds ($2.6 billion).
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