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Headlines of Interest for Holders of Preferreds and Baby Bonds

Below are press releases from companies with preferred stock and baby bonds outstanding. Additionally, news of a more macro economic importance may be posted. 

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Customers Bancorp Reports Results for Fourth Quarter and Full Year 2024

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Dime Community Bancshares Declares Quarterly Cash Dividend for Series A Preferred Stock

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Midland States Bancorp, Inc. Announces 2024 Fourth Quarter Results

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OceanFirst Financial Corp. Announces Quarterly and Annual Financial Results

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Wintrust Financial Corporation Announces Cash Dividends, Increasing Quarterly Common Stock Dividend Rate by 11.1%


Carlyle Credit Income Fund Schedules First Quarter Financial Results and Investor Conference Call

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Mortgage Rates Drop Below Seven Percent

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Dime Community Bancshares, Inc. Reports Fourth Quarter 2024 Results

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Valley National Bancorp Reports Fourth Quarter 2024 Results

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FTAI Infrastructure Inc. Announces Timing of Fourth Quarter and Full Year 2024 Earnings and Conference Call

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Energy Transfer LP Announces Cash Distribution on Series I Preferred Units

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New Mountain Finance Corporation Schedules its Fourth Quarter and Year Ended December 31, 2024 Earnings Release and Conference Call

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PennyMac Mortgage Investment Trust Announces Date for Release of Fourth Quarter and Full-Year 2024 Results

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Banc of California, Inc. Reports Fourth Quarter Diluted Earnings per Share of $0.28, Reflecting Strong Year-Over-Year Net Interest Margin Expansion and Lower Noninterest Expenses

2 thoughts on “Headlines of Interest for Holders of Preferreds and Baby Bonds”

  1. After reading the first few paragraphs, my overall impression is that Midland States Bank’s 4Q report looked pretty bad. (MSBI seems to be taking steps to fix things.) Asset sales. Items sliding from past due to non accrual to write off, suggesting credit deterioration. Brokered deposits up 2.5x Y2Y but still a small percentage of total deposits.

    Googling around bank stat sites, MSBI’s “bad loans vs good assets” metric is worse than its peers (ranked 93/100) but not fatally so, a 15% ratio where 100%+ means the guy in the Uber is from the FDIC. MSBI common yields around 5%. MSBIP preferred, around 7.7%. The common was down after hours. Not too concerned about the preferred. JMO. DYODD.

    1. Absolutely BearNJ–MSBI has been less than upfront on their bad loans.

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