Reports Q4 NII $26.94M, consensus $28.17M. Q4 provision for credit losses was $450K vs. $675K and ($1.7M) in Q3 and the year-ago quarter, respectively. Tangible book value per common share at period end was $14.87 from $14.12 at previous quarter end. "We are pleased to report our Q4er earnings and fiscal year 2022 financial results," said CEO Lloyd Beatty, Jr.. "In 2022, we experienced significant loan growth of just over 20% and successful integration of Severn. With the recent announcement of our pending merger with TCFC, we expect the future of the combined organizations to be very promising given our ability to help customers with higher loan limits, make greater investments in technology and increased career opportunities for employees."
Published first on TheFly
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