CSVI - CSVI STOCK NEWS

Computer Services, Inc. (OTC-PINK: CSVI) will host its second-annual TechX Virtual Product Showcase on Nov. 2, 2022, from 1 to 4 p.m. CT. The event aims to demonstrate product expansions across key verticals including fraud solutions, cybersecurity, and banking-as-a-service. CEO David Culbertson emphasizes the company's focus on innovation. The showcase will feature over 20 presentations, including a launch of a new IT governance platform. Recordings will be available for 90 days for customers unable to attend.

Computer Services, Inc. (OTCQX: CSVI) reported its Q2 2023 results, revealing an 8.9% revenue increase to $83.9 million, though net income fell 15.0% to $12.3 million. Key factors include $4.5 million in acquisition-related expenses. Excluding these costs, proforma adjusted net income rose 8.3% to $15.7 million. For the first half of fiscal 2023, revenues rose 7.3% to $164.9 million, but net income declined 6.4% to $27.1 million. The company faced increased operating costs alongside strong sales in digital banking and payment processing.

Computer Services, Inc. (CSVI) has been recognized in the 2022 IDC FinTech Rankings for the 11th consecutive year, moving up seven spots to No. 51 globally. The rankings evaluate technology providers based on calendar year revenues from financial institutions. CSI's continued partnerships with community financial institutions have expanded its footprint, providing a suite of fintech, regtech, and cybersecurity solutions. IDC forecasts $590 billion in IT spending for financial services by 2025, indicating substantial growth opportunities in the sector.

Computer Services, Inc. (CSVI) reported a record-breaking first half of fiscal 2023, with 15 new partnerships for its NuPoint® core banking platform. The growth strategy has expanded the company's reach, marking the first core banking solutions in Arizona, New Hampshire, and Washington. The anticipated customer base will surpass the previous record of 26 new agreements. In conjunction with its acquisition by Centerbridge Partners and Bridgeport Partners, CSI is enhancing cloud services and API integrations, focusing on innovation and customer service.

Computer Services, Inc. (CSVI) announced a definitive agreement for an all-cash acquisition by Centerbridge Partners and Bridgeport Partners valued at approximately $1.6 billion, equivalent to $58.00 per share. This price represents a 53% premium over CSVI's closing stock price prior to the announcement. The transaction received unanimous approval from CSVI's board and is expected to finalize in Q4 2022, pending shareholder and regulatory approvals.

After the acquisition, CSVI will operate privately under its current management, with plans to enhance its fintech and regtech solutions.

Computer Services, Inc. (OTCQX: CSVI) has partnered with Movement Bank to implement its NuPoint® core platform for enhanced core banking services. Movement Bank, dedicated to serving underserved communities, cited CSI’s superior technology and customer service as key factors in their decision. Additionally, Movement will utilize CSIbridge for access to open banking APIs, which enhances real-time data sharing. This collaboration is expected to strengthen Movement Bank’s operational capabilities and support its growth while upholding its 100-year legacy of service.

Computer Services, Inc. (CSVI) has announced a quarterly cash dividend increase to $0.29 per share, effective September 26, 2022. This marks the company's 51^st consecutive annual increase, reflecting a 7.4% rise from last year's $0.27 dividend. The increase is supported by strong cash flow and record revenues and net income reported for the first fiscal quarter ended May 31, 2022. The company emphasizes its commitment to shareholder value and anticipates solid results in fiscal 2023.

Computer Services, Inc. (CSVI) held its 2022 annual meeting where shareholders re-elected three directors and ratified FORVIS as the independent auditor for fiscal year ending February 28, 2023. CEO David Culbertson highlighted a commitment to growth through technology transformation, focusing on public cloud strategies and Open Banking. CFO Brian Brown reported record financial results for Fiscal 2022, marking 22 consecutive years of revenue growth and 25 years of increased net income, with expectations for continued growth in Fiscal 2023.

Computer Services, Inc. (CSVI) has been recognized as one of the 2022 Best Places to Work in Illinois and Kentucky, achieving 7th and 22nd ranks in the large company category, respectively. This marks the 10th consecutive year CSI has made the Kentucky list. The recognition highlights CSI's commitment to workplace excellence as it employs nearly 1,300 individuals and provides comprehensive services in fintech, cybersecurity, and regulatory compliance. The company emphasizes community involvement through its CSI Cares initiative, empowering employees to volunteer with paid time off.