otc - OTC STOCK NEWS

CV Sciences, Inc. (OTCQB:CVSI) will release its third-quarter financial results for the period ending September 30, 2022, on November 14, 2022, before the market opens. A conference call will be held the same day at 7:00 a.m. PT, accessible via phone or webcast. The company, known for its PlusCBD™ products, operates in both consumer product manufacturing and drug development. CV Sciences adheres to strict manufacturing practices and has achieved self-affirmed GRAS status for its products, supported by clinical research.

Fannie Mae (FNMA/OTCQB) announced its third quarter 2022 financial results, revealing a net income of $2.4 billion for the quarter ending September 30, 2022. The company filed its Form 10-Q with the SEC, which includes key financial statements. Fannie Mae aims to enhance access to homeownership and affordable rental housing for Americans. The comprehensive results are available on Fannie Mae's website. A conference call discussing these results took place on November 8, 2022, at 8:00 AM ET, allowing analysts and stakeholders to delve into the financial performance details.

Fannie Mae (OTCQB: FNMA) has released its September 2022 Monthly Summary, providing insights into its gross mortgage portfolio, mortgage-backed securities, and serious delinquency rates. The report outlines the firm's monthly and year-to-date activities while highlighting key performance metrics including interest rate risk measures. Fannie Mae continues its mission to promote equitable access to homeownership and affordable rental housing across the U.S.

Touchstone Bankshares, Inc. (OTC Pink: TSBA) reported unaudited Q3 2022 results with a net income of $1.1 million, down from $1.2 million in Q3 2021, marking $0.33 earnings per share. Year-to-date net income reached $2.8 million, compared to $3.2 million last year. Loan growth was 14.7% year-over-year, with total assets increasing to $615 million. However, noninterest income decreased by 5.1% year-to-date. Operating costs rose due to talent acquisition and inflation. The bank anticipates improved profitability metrics despite challenges.

Farmers Bankshares, Inc. (OTC: FBVA) reported third-quarter 2022 earnings of $1.0 million, or $0.33 per share. Adjusted earnings, excluding merger-related expenses, would be $1.7 million, or $0.55 per share. Net income for the first nine months of 2022 totaled $3.4 million, or $1.08 per share. The bank's net loans increased by $21.6 million (8.37%) year-over-year. While net interest income rose by 8.74%, non-interest income fell 39.42%. The company anticipates completing its merger with TowneBank in Q1 2023.

Santa Cruz County Bank (OTC: SCZC) reported record results for Q3 2022, with net income of $9.2 million, a 44% increase from the previous quarter and a 67% increase year-over-year. Total assets reached $1.86 billion, reflecting a 10% rise from last year, while gross loans grew 17% to $1.23 billion. The bank's efficiency ratio improved to 36.17%, and return on average assets stood at 2.01%. The bank plans to open a new branch in Salinas, enhancing its community presence. Basic EPS increased to $1.08, showing strong profitability amid a favorable interest rate environment.

Fannie Mae (OTCQB: FNMA) announced its twenty-eighth sale of reperforming loans, comprising around 10,400 loans with an unpaid principal balance of approximately $1.95 billion. This move is part of Fannie Mae's strategy to reduce its mortgage portfolio. Bids for the loans, marketed with Citigroup Global Markets, are due by November 1, 2022. Buyers are required to provide loss mitigation options for borrowers potentially re-defaulting within five years. Interested bidders can register for more information on Fannie Mae's website.

Fannie Mae (OTCQB: FNMA) has completed its ninth Credit Insurance Risk Transfer™ (CIRT™) transaction for 2022, transferring $700 million of mortgage credit risk to private insurers. This initiative aims to reduce taxpayer risk while increasing private capital in the mortgage market. The covered pool includes approximately 69,000 loans with a total unpaid principal balance of $21 billion. Fannie Mae retains risk for the first 55 basis points of loss, with insurers covering further losses up to $700 million.

Fannie Mae’s Economic and Strategic Research Group has revised its forecasts, predicting a moderate recession starting Q1 2023 due to high inflation and mortgage rates. Despite an anticipated 0.0% real GDP growth in 2022, the full-year 2023 growth forecast has been adjusted to -0.5%. Mortgage rates are expected to peak between 3.50-3.75% in early 2023, contributing to a projected decrease in single-family home sales to 5.71 million in 2022 and 4.98 million in 2023, reflecting declines of 17.2% and 12.8%, respectively. Multifamily construction remains strong but has also seen a forecast reduction.