FINEMARK HOLDINGS INC - FNBT STOCK NEWS

FineMark Holdings, Inc. (OTCQX:FNBT), the parent company of FineMark National Bank & Trust, has released its second quarter 2024 financial results. The detailed results are available on the bank's website. FineMark, founded in 2007, is a nationally chartered bank and trust company headquartered in Florida. The company offers a full range of financial services, including personal and business banking, lending, trust, and investment services through its offices in Florida, Arizona, and South Carolina. FineMark's common stock trades on the OTCQX under the symbol FNBT.

FineMark Holdings, Inc. (FNBT) has reported its first quarter 2024 financial results. The parent company of FineMark National Bank & Trust offers a range of financial services and trades on the OTCQX under the symbol FNBT.

FineMark Holdings, Inc. (OTCQX:FNBT) has released its fourth quarter and full year 2023 financial results. The parent company of FineMark National Bank & Trust, FineMark offers a full range of financial services, including personal and business banking, lending services, trust, and investment services.

FineMark Holdings reports Q3 2023 financial results with revenues of $45.5 million and net income of $729 thousand.

FineMark Holdings, Inc. reported Q2 revenues of $42.5 million and net revenues of $21.6 million. Net income was $1.8 million compared to $7 million last year. Assets under management and administration increased by 23% to $6.7 billion. Net interest income decreased by 30% due to rising interest rates. Non-interest expense rose by 10%. Loan production totaled $237 million. Non-performing loans increased to $2.1 million. FineMark's capital ratios exceed regulatory requirements.

FineMark Holdings, Inc. (OTCQX:FNBT) reported net revenues of $22.4 million for Q1 2023, a decline from $26.3 million in Q1 2022. Net income decreased to $2 million or $0.17 per diluted share, down from $6.9 million or $0.58 per share year-over-year. The significant rise in interest expense, up 348% due to rapid interest rate hikes, compressed the net interest margin to 1.75%, compared to 2.14% in the prior year. Despite challenges, FineMark recorded a 14% growth in net loans, totaling $2.3 billion. Assets under management grew 7% to $6.4 billion, while non-interest income remained stable. The bank maintains a solid balance sheet, with 9.23% Tier 1 leverage ratio and 0.05% non-performing loans.

FineMark Holdings, Inc. (OTCQX:FNBT) reported net revenues of $102.6 million for the year ending December 31, 2022, up from $94.6 million in 2021. However, net income decreased to $22.4 million ($1.89/share) from $25 million ($2.39/share) in 2021. For Q4 2022, revenues were $23.1 million, down from $25.8 million the previous year, with a net income of $3.1 million ($.26/share), compared to $7 million ($.59/share) in Q4 2021. Despite challenges like Hurricane Ian and rising interest rates, the bank saw a 12% growth in net loans and a 21% increase in net asset inflows from trust clients.

FineMark Holdings, Inc. (OTCQX:FNBT) announced the release of its fourth quarter and full year 2022 financial results on January 18, 2023, after market close. Investors can access the earnings report in the Investor Relations section of the company's website. A conference call to discuss the results will be held on January 19, 2023, at 9 AM ET. FineMark, with $3.6 billion in total assets and $6 billion in assets under management, provides a range of financial services through its locations in Florida, Arizona, and South Carolina.

FineMark Holdings, Inc. (OTCQX:FNBT) reported a net revenue increase to $25.9 million for Q3 2022, up from $24.1 million in Q3 2021. However, net income fell by 24% to $5.4 million ($0.45 per share), impacted by rising salaries, a provision expense, and a $400,000 allocation for Hurricane Ian recovery. Loan production decreased by 30% due to rising interest rates, while deposits surged 20% to $2.9 billion. The investment portfolio grew 27% to $1.1 billion, reflecting a challenging economic environment marked by inflation and rising interest rates.