HOUSTOn - (02/23/06) -- Cardtronics, operator of thenation's largest fleet of ATMs, reported a loss Wednesday for itsfourth quarter of $900,000 , even as revenues were rising 13% to$70 million for the quarter, compared to the same period in 2004.Among the reasons was the roll-out of ATMs in CVS and Walgreensstores, which are in the process of ramping up to profitability,the company said. As a result, the privately held company reporteda 75% drop in fiscal year earnings to $947,000, compared to 2004,even as revenues were rising 40% to $268 million. Among the fourthquarter highlights was the acquisition of ATM National and itsAllpoint surcharge-free network, popular with credit unions.Cardtronics operates more than 26,000 ATMs across the nation, mostof them available to credit unions members via Allpoint or TheCredit Union 24 network.
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The top five banks and thrifts have combined total assets of nearly $13 trillion.
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The Connecticut bank —a regional traditionally regarded as a cautious lender — said nonperforming loans and leases rose 53% year-over-year. The uptick was in mostly the commercial-and-industrial loan space, although there was one nonperforming commercial real estate loan, executives said.
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Brendon Falconer, finance chief of the Indiana company since 2019, faces felony child molestation charges. But CEO James Ryan says management is focused on the CapStar integration and organic growth.
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The banking-as-a-service middleware provider will be acquired by TabaPay. Other middleware providers may be forced to evolve or face the same fate.
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