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First Seacoast Bancorp (FSEA) stock soared to a 52-week high, reaching $11.53, marking a significant milestone for the small-cap banking institution with a market capitalization of $50.8 million. According to InvestingPro analysis, the stock is currently trading above its Fair Value, suggesting a potentially stretched valuation. This peak reflects impressive gains, with YTD returns of ~14% and a substantial six-month return of 26%. The achievement of this 52-week high represents a noteworthy event for shareholders and potential investors, particularly as management has been actively buying back shares. InvestingPro subscribers can access 5 additional key insights about FSEA’s financial health and growth prospects.
In other recent news, First Seacoast Bancorp, Inc. announced significant developments regarding its executive compensation and leadership contracts. The company amended the compensatory arrangements for its executive, James R. Brannen, impacting his Salary Continuation Agreement. Under the revised terms, Brannen will receive an annual benefit of $64,817 if he leaves the company for reasons other than a change in control, with specific provisions for disability or death. Additionally, if a change in control occurs, his annual benefit will increase to $132,209. In a separate announcement, First Seacoast Bancorp extended the employment agreements for its CEO, James R. Brannen, and executives Richard M. Donovan and Timothy F. Dargan. Brannen’s contract now extends until March 31, 2028, while Donovan and Dargan’s contracts run until March 31, 2027. These contract extensions suggest a vote of confidence in the current management team by the board of directors.
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