Toronto Blue Jays manager Charlie Montoyo used seven pitchers in the victory against the Boston Red Sox and he explains his thinking behind several decisions within the game.
Toronto Blue Jays manager Charlie Montoyo used seven pitchers in the victory against the Boston Red Sox and he explains his thinking behind several decisions within the game.
A mother in Oklahoma said sent three of her sons to school wearing Black Lives Matter shirts. She said two of them were forced to sit in an office.
The talk show host participated in the #danceanddonatechallenge, a fundraiser created by celebrity trainer and choreographer Isaac Calpito
OAK RIDGE, N.C., May 10, 2021 (GLOBE NEWSWIRE) -- Oak Ridge Financial Services, Inc. (“Oak Ridge”; or the “Company”) (OTCPink: BKOR), the parent company of Bank of Oak Ridge (the “Bank”), announced unaudited financial results for the first three months of 2021, and an increase in its quarterly cash dividend to $0.07. First Quarter 2021 Highlights Record earnings per share of $0.77 for the three months ended March 31, 2021, up 70 cents from the comparable 2020 period;Record annualized return on average common stockholders’ equity of 18.45% for the three months ended March 31, 2021, compared to 1.68% for the same period in 2020;Tangible book value per common share of $17.24 as of March 31, 2021, up 13.3%, or $2.02, from $15.22 as of March 31, 2020;As of March 31, 2021, forgave and recognized remaining unamortized fees and associated costs of approximately 45% on the $50.1 million of first round of Small Business Administration (“SBA”) Paycheck Protection Program (“PPP”) loans;As of March 31, 2021, the Bank funded 353 Round 2 PPP loans totaling $27.8 million, the associated fees and origination costs will be recognized as interest income and expense, respectively, over the life of the PPP loansPeriod end loans of $463.0 million, up 2.8% (11.2% annualized) from December 31, 2020;Outstanding balance of loans granted deferrals of principal and/or interest payments in response to COVID-19 of $1.6 million (0.40% of total loans) as of March 31, 2021, down from a peak of $133.7 million (29.2% of loans);Period end allowance for loan losses of $5.3 million, down 3.8%, from $5.5 million at December 31, 2020;Nonperforming assets of $3.6 million, up 2.9% from $3.5 million at December 31, 2020;Period end deposits of $492.6 million, up 8.1% from December 31, 2020;Opened the Bank’s fifth bank branch in High Point, NC in February of 2021. Tom Wayne, Chief Executive Officer and Chief Financial Officer, reported, “I am extremely pleased with our record performance in the first quarter of 2021, and very proud of our Bank’s support of the local community through our continued participation in the PPP program. Loans in deferral peaked at 29% of total loans in the second quarter of 2020 and have since fallen to 0.40% of total loans at March 31, 2021, a very positive sign. While it remains difficult to accurately predict the next few quarters and the impact of COVID-19 on our local and national economy, I am thankful to have our experienced team of bankers and a supportive board of directors as we address future challenges and opportunities.” The Company also announced a $0.01 increase in its quarterly cash dividend to $0.07 per share of common stock. The dividend is payable on June 10, 2021 to stockholders of record as of the close of business on May 25, 2021. “We are pleased to increase our quarterly cash dividend to our stockholders,” said Mr. Wayne. “Paying stockholders a portion of our earnings reflects our continuing commitment to enhance stockholder value.” The Bank adopted the 9% community bank leverage ratio (“CBLR”) requirement as of June 30, 2020. As of March 31, 2021 the Bank’s CBLR was 9.56%, up from 9.22% at December 31, 2021. As of March 31, 2021, the Company’s stockholders’ equity was $45.9 million, up 3.1%, from $44.5 million at December 31, 2020. With respect to the consolidated statement of operations for the first three months of 2021, net interest income was $5.6 million in 2021, up $1.6 million, or 40.0%, from $4.0 million for the first quarter of 2020. The Company recorded a negative provision for loan losses of $112,000 million in the first three months 2021, compared with a loan loss provision of $1.1 million in the same period of 2020. The allowance for loan losses as a percentage of total loans was 1.21% at December 31, 2021 compared to 0.90% at December 31, 2020. The Company increased the allowance for loan losses in 2020, largely due to increase in the qualitative factors in the Company’s allowance for loan loss model due to the deteriorating economic outlook related to COVID-19. Nonperforming assets represented 0.62% of total assets as of March 31, 2021, down slightly from 0.64% at December 31, 2020. Noninterest income totaled $671,000 in the first three months of 2021, unchanged from the same period in 2020. Noninterest expense totaled $3.7 million in the first three months in 2021, up slightly from $3.3 million in the same period in 2020. About Oak Ridge Financial Services, Inc.Oak Ridge Financial Services, Inc. (OTCPink: BKOR) is the holding company for Bank of Oak Ridge. Bank of Oak Ridge delivers personal attention and convenience for every client. Substantially all of the Bank’s employees are stockholders in Oak Ridge Financial Services, Inc. through their participation in the Bank’s Employee Stock Ownership Plan. We are proud of our many accolades and awards, including seven “Best Bank in the Triad” wins, “Triad’s Top Workplace” finalist, “Triad’s Healthiest Employer” winner and a 2016 Better Business Bureau “Torch Award” winner. We offer a complete range of banking services for individuals and businesses. Bank of Oak Ridge is a member of the FDIC and an Equal Housing Lender. Banking Services | ATM Usage Worldwide | Mobile Banking | Online Billpay | Remote and Mobile Deposit | Checking | Savings | Mortgage | Insurance | Lending | Wealth Management Visit Us | To learn more, visit us during our extended weekday and Saturday hours at one of our convenient locations in Greensboro, High Point, Summerfield and Oak Ridge, North Carolina, or call 336.644.9944, or online at www.BankofOakRidge.com. Forward-looking InformationThis earnings release contains certain forward-looking statements with respect to the financial condition, results of operations and business of the Company. These forward-looking statements involve risks and uncertainties and are based on the beliefs and assumptions of management of the Company and on the information available to management at the time that these disclosures were prepared. These statements can be identified by the use of words like “expect,” “anticipate,” “estimate” and “believe,” variations of these words and other similar expressions. Readers should not place undue reliance on forward-looking statements as a number of important factors could cause actual results to differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, (1) competition in the Company’s markets, (2) changes in the interest rate environment, (3) general national, regional or local economic conditions may be less favorable than expected, resulting in, among other things, a deterioration in credit quality and the possible impairment of collectability of loans, (4) legislative or regulatory changes, including changes in accounting standards, (5) significant changes in the federal and state legal and regulatory environment and tax laws, and (6) the impact of changes in monetary and fiscal policies, laws, rules and regulations. The Company undertakes no obligation to update any forward-looking statements. Oak Ridge Financial Services, Inc.Consolidated Balance SheetsAs of March 31, 2021 (Unaudited) and December 31, 2020 (Audited) 2021 2020Assets Cash and due from banks$8,624 $9,354Interest-bearing deposits with banks 37,628 11,994Total cash and cash equivalents 46,252 21,348Securities available-for-sale 45,153 46,357Securities held-to-maturity 529 564Restricted stock, at cost 1,525 1,806Loans, net of allowance for loan losses of $5,250 at period end 2021 and $5,458 at year end 2020 457,734 445,127Property and equipment, net 10,504 10,632Accrued interest receivable 2,075 2,412Bank owned life insurance 5,951 5,930Right-of-use assets – operating leases 1,893 1,990Other assets 5,137 4,464Total assets$576,573 $540,630 Liabilities and Stockholders’ Equity Liabilities Deposits: Noninterest-bearing$110,904 $94,227Interest-bearing 381,650 361,510Total deposits 492,554 455,737Short-term borrowings 5,000 8,000Long-term borrowings 886 952Junior subordinated notes related to trust preferred securities 8,248 8,248Subordinated debentures 15,476 15,484Lease liabilities – operating leases 1,892 1,990Accrued interest payable 293 140Other liabilities 6,528 5,604Total liabilities 530,877 496,155 Stockholders’ equity Common stock, no par value; 50,000,000 shares authorized; 2,675,500 issued and outstanding at period end 2021 and 2,639,345 at year end 2020 25,153 25,013Retained earnings 17,669 15,771Accumulated other comprehensive income 3,054 3,691Total stockholders’ equity 45,875 44,475Total liabilities and stockholders’ equity$576,573 $540,630 Oak Ridge Financial Services, Inc.Consolidated Statements of IncomeThree months ended March 31, 2021 and 2020 (Unaudited)(Dollars in thousands except per share data) 20212020Interest and dividend income Loans and fees on loans$5,874 $4,924 Interest on deposits in banks 24 65 Restricted stock dividends 20 16 Taxable investment securities 336 298 Total interest and dividend income 6,254 5,303 Interest expense Deposits 375 1,060 Short-term and long-term debt 321 274 Total interest expense 696 1,333 Net interest income 5,558 3,969 Provision for (recovery of) loan losses (112) 1,140 Net interest income after provision for loan losses 5,670 2,829 Noninterest income Service charges on deposit accounts 135 181 Brokerage commissions on mortgage loans 77 82 Insurance commissions 121 84 Gain on sale of SBA loans - - Debit and credit card interchange income 254 243 Income earned on bank owned life insurance 21 24 Other service charges and fees 63 59 Total noninterest income 671 673 Noninterest expense Salaries 1,853 1,546 Employee benefits 294 272 Occupancy 286 236 Equipment 277 245 Data and item processing 446 512 Professional and advertising 157 166 Stationary and supplies 39 34 Net cost of foreclosed assets - 5 Impairment loss on securities 10 - Telecommunications 95 77 FDIC assessment 58 13 Other expense 229 228 Total noninterest expense 3,744 3,334 Income before income taxes 2,597 168 Income tax expense (benefit) 542 (4)Net income and income available to common stockholders$2,055 $172 Basic income per common share$0.77 $0.07 Diluted income per common share$0.77 $0.07 Basic weighted average shares outstanding 2,675,500 2,635,135 Diluted weighted average shares outstanding 2,675,500 2,644,434 Selected Financial DataMarch 31, 2021December 31, 2020September 30, 2020June 30, 2020March 31, 2020December 31, 2019Return on average common stockholders' equity1 18.45% 9.17% 8.50% 11.66% 1.68% 10.23%Tangible book value per share$17.24 $16.86 $16.36 $15.98 $15.22 $15.36 Return on average assets1 1.49% 0.73% 0.64% 0.92% 0.14% 0.86%Net interest margin1 4.26% 3.57% 3.42% 3.50% 3.49% 3.57%Net interest income to average assets1 4.03% 3.32% 3.27% 3.34% 3.32% 3.37%Efficiency ratio 59.94% 67.64% 68.67% 62.79% 71.82% 74.53%Nonperforming assets to total assets 0.62% 0.64% 0.64% 0.65% 0.78% 0.81% 1Annualized
Does anybody care about sharing airtime with a guy who said "nothing" existed in America before white colonizers arrived?
A federal jury convicted Alex “Big A’ Underwood and two former deputies April 23 after a two-week trial for corruption and other crimes.
Shares of Heron Therapeutics (NASDAQ: HRTX) were jumping 7.3% as of 3:08 p.m. EDT on Monday after rising as much as 13% earlier in the day. Heron announced Q1 revenue of $20 million, down 21% year over year. The average analysts' estimate projected Q1 revenue of $25.7 million and a loss of $0.57 per share.
Her comments came as she set out how the party must change to reconnect with working class voters.
Tim Tebow and Urban Meyer are apparently getting back together, this time in the NFL. The former Florida star and 2007 Heisman Trophy-winning quarterback is expected to team up with his college coach by signing a one-year contract to play for the Jacksonville Jaguars, the NFL Network reported Monday. The 33-year-old Tebow would be returning to the NFL after four years (2016-19) in the New York Mets’ organization and he’d be playing for Meyer for the first time since his senior year in 2009.
Lexi Reese, Gusto COO, join Yahoo Finance’s Alexis Christoforous and Kristin Myers to discuss how small businesses are faring amid the economic recovery.
A 45-year-old Windsor custodian has been charged following an alleged child exploitation incident, according to Windsor police. Police arrested the man May 6 after an investigation where they said they learned the suspect was talking to and agreed to meet with a person younger than 16 years old with the intent of committing a sexual related offence. Police said they were first made aware of the incident six days earlier when they received a report of an online child luring call within the city. Windsor police said the man worked as a custodian in Windsor-Essex where "children may have been present during the course of employment." Police ask that anyone with information contact the Windsor Police Service ICE (Internet Child Exploitation) Unit at 519-255-6700 ext. 4896 or anonymously call Crime Stoppers anonymously at 519-258-8477 (TIPS).
Facebook has started testing a new interface feature that will prompt people to at least open a link before they share it with their network.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE U.S. EDMONTON, Alberta, May 10, 2021 (GLOBE NEWSWIRE) -- North American Construction Group Ltd. (“NACG” or the “Company”) (TSX/NYSE: NOA) is pleased to announce that it has entered into an agreement with a syndicate of underwriters (the “Underwriters”) led by National Bank Financial Inc. under which the underwriters have agreed to purchase $65,000,000 aggregate principal amount of convertible unsecured subordinated debentures due June 30, 2028 (the “Debentures”) at a price of $1,000 per Debenture (the “Offering”). In addition, the Company has granted the Underwriters an over-allotment option to purchase up to an additional $9,750,000 aggregate principal amount of Debentures at the same price, exercisable in whole or in part at any time for a period of up to 30 days following closing of the Offering, to cover over-allotments. The Debentures will be subordinated, unsecured obligations of NACG and will bear interest at a rate of 5.50% per annum, payable semi-annually in arrears on June 30 and December 31 of each year, commencing December 31, 2021. The Debentures will be convertible at any time at the option of the holders into common shares of the Company (“Common Shares”) at a conversion price (the “Conversion Price”) of $24.75 per share. The Debentures will mature on June 30, 2028 (the “Maturity”). The Debentures will not be redeemable at the option of the Company before June 30, 2024. On or after June 30, 2024 and prior to June 30, 2026, the Debentures may be redeemed in whole or in part at the option of the Company on not more than 60 days and not less than 30 days prior notice at a price equal to their principal amount thereof plus accrued and unpaid interest, provided that the volume weighted average trading price of the Common Shares on the Toronto Stock Exchange for the 20 consecutive trading days ending five trading days preceding the date on which the notice of redemption is given is not less than 125% of the Conversion Price. On or after June 30, 2026 and prior to Maturity, the Debentures may be redeemed in whole or in part at the option of the Company on not more than 60 days and not less than 30 days prior notice at a price equal to their principal amount plus accrued and unpaid interest. NACG will use net proceeds of the Offering for future growth opportunities, to repay outstanding indebtedness and for general corporate purposes. A preliminary short-form prospectus qualifying the distribution of the Debentures will be filed with securities regulatory authorities in all of the provinces of Canada, excluding Quebec. The Offering is subject to customary regulatory and stock exchange approvals, with closing expected to occur on or about June 1 , 2021. The securities to be offered have not been and will not be registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of such Act. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction. About the Company North American Construction Group Ltd. (www.nacg.ca) is one of Canada’s largest providers of heavy construction and mining services. For more than 65 years, NACG has provided services to large resource-based companies. For further information, please contact: Jason Veenstra, CPA, CA Chief Financial Officer North American Construction Group Ltd. Phone: (780) 948-2009 Email: firstname.lastname@example.org Forward-Looking Information The information provided in this release contains forward-looking information and forward-looking statements (together, “forward-looking statements”). Forward-looking statements include statements preceded by, followed by or that include the words “expect”, “may”, “could”, “believe”, “anticipate”, “continue”, “should”, “estimate”, “potential”, “likely”, “target” or similar expressions. The material factors or assumptions used to develop the above forward-looking statements include, and the risks and uncertainties to which such forward-looking statements are subject, are highlighted in the Company’s Management’s Discussion and Analysis for the year ended December 31, 2020 and the Company’s annual information form dated February 17, 2021. Actual results could differ materially from those contemplated by such forward-looking statements as a result of any number of factors and uncertainties, many of which are beyond NACG’s control. Undue reliance should not be placed upon forward-looking statements and NACG undertakes no obligation, other than those required by applicable law, to update or revise those statements. For more complete information about NACG, you should read the Company’s disclosure documents filed with the SEC and the CSA. You may obtain these documents for free by visiting EDGAR on the SEC website at www.sec.gov or SEDAR on the CSA website at www.sedar.com. Since 1953 - Heavy Construction & Mining Suite 300, 18817 Stony Plain Road Edmonton, Alberta T5S 0C2 Canada Phone 780.960.7171 Fax 780.969.5599www.nacg.ca
Image source: The Motley Fool. CEVA Inc (NASDAQ: CEVA)Q1 2021 Earnings CallMay 10, 2021, 8:30 a.m. ETContents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: OperatorGood day and welcome to the CEVA, Inc.
The Danish director won an Oscar with the art film "A Better World." Now, the Emmy winner for "The Night Manager" enjoys reaching a wider public.
A man has been arrested after a gunshot narrowly missed a child sleeping in a crib on Saturday, police say. In a news release Monday, the Kennebecasis Regional Police Force said they were called to an apartment building on Sierra Avenue in Rothesay after a resident reported that a gunshot came through the floor of his child's bedroom and struck the crib the 20-month-old was sleeping in. The resident heard the gunshot before discovering it struck the crib and missed the child. Police said they secured the scene and arrested a 22-year-old man who lived in the building. A search warrant was executed at his apartment, and a firearm and ammunition were seized. The man, who wasn't named in the release, is now facing several firearms and criminal negligence charges and was released from custody on a promise to appear in court on July 20 at 9:30 a.m. in Saint John court, the release said.
The Mission: Impossible star joins the protest against the Hollywood Foreign Press Association.
Major Drilling Group International Inc. (TSX:MDI) prudently manages the company's cash and balance sheet, which enables it to take advantage of growth opportunities. The post ALERT: 1 Value Stock That Could Significantly Outperform appeared first on The Motley Fool Canada.
* Copper prices hit all-time high * Canadian 10-year yield up slightly (Adds analyst comment, updates prices) By Gertrude Chavez-Dreyfuss NEW YORK, May 10 (Reuters) - The Canadian dollar rose on Monday to its highest level since mid-September 2017 against a broadly weak U.S. currency, boosted overall by firmer commodity prices and the Bank of Canada beginning to tighten its monetary policy. Analysts said those two factors had helped shield the Canadian dollar from the negative impact of the economy's worse-than-expected jobs report last Friday. Canada's economy lost 207,100 jobs in April, more than analysts' estimates of 175,000 job losses, with declines driven by coronavirus restrictions in populous Ontario, Quebec and British Columbia, data showed.
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VANCOUVER, BC / ACCESSWIRE / May 10, 2021 / Culmina Ventures Corp. (the "Company" or "Culmina"), is pleased to announce that on April 29, 2021, the Company entered into a definitive share exchange agreement with ClearMynd Technology Solutions Corp.