Industry News

BGC Partners, Inc. has agreed to acquire the businesses of UK-based independent financial brokerage Sunrise Brokers Group, the company said. Details of the transaction were not disclosed. Completion of the transaction is subject approvals and conditions."/>
BGC Partners Agrees to Acquire UK Financial Brokerage
M and A Navigator: Deal pipeline –22 July
Heritage Financial Corp., which announced earnings Thursday, reported it earned a $8.9 million profit in the quarter, or 30 cents a share, compared with $8.7 million profit, or 29 cents a share, in the same period a year ago. Loan growth has been strong."/>
Heritage Financial reports second-quarter profit of nearly $9 million [The Olympian (Olympia, Wash.)]
Assured Guaranty Ltd. released the following statement regarding the motion and form of complaint it filed today challenging the Commonwealth of Puerto Rico’ s Executive Orders diverting pledged toll revenue collateral that secures the payment of bonds issued by the Puerto Rico Highways and Transportation Authority. These PRHTA toll revenues are not subject to clawback for payment of the Commonwealth’ s general obligation debt under the Puerto Rico..."/>
Assured Guaranty Files Motion to Lift Stay and Challenge the Commonwealth’s Executive Orders Diverting PRHTA Pledged Toll Revenues Not Subject to Clawback
F.N.B. Corp. is pushing into the Carolinas with a $1.4 billion deal to buy Raleigh-based Yadkin Financial Corp.."/>
First National Bank parent buying Carolinas bank Yadkin Financial [The Pittsburgh Tribune-Review]
Bank of New York Mellon struggled with declining revenue in the second quarter and executives promised to hold costs down for the rest of the year as the bank searches for ways to improve profitability amid low interest rates. The New York-based bank, which has 7,000 employees at its corporate office in Pittsburgh, is looking to keep expenses flat for the rest of the year amid weak global economic growth that has kept interest rates low,..."/>
BNY Mellon sees dip in 2nd quarter profit [The Pittsburgh Tribune-Review]
Bank of Santa Clarita today announced continuing significant growth in loans for the second quarter of 2016, as total loans grew to $209.5 million, a growth of 14% in the first half of 2016; moreover, the Bank noted that from June 30, 2015 to June 30, 2016, its loan portfolio had increased from $173.0 million, a growth rate of 21% from the year-earlier total. The Bank also reported second quarter net earnings of $388,000, an increase of 61% over first quarter..."/>
Bank of Santa Clarita Announces Growth in Loans, Deposits and Record Quarterly Earnings
DST Systems Inc. on Thursday reported a sharply lower second-quarter profit, citing costs from recent layoffs and lower investment sales. The $53 million profit equaled $1.58 a share. A year ago, DST Systems earned $107.5 million, or $2.91 a share, thanks in part to $100.3 million in proceeds from selling investments such as shares it owned in State Street Corp. Investment sales in the recent quarter totaled $31.8 million."/>
DST Systems earnings down on smaller investment sales [The Kansas City Star]
BancorpSouth Inc. reported its second-quarter profit dipped to $34.7 million, or 37 cents per share, compared to $39.7 million, or 41 cents per share, for the same period in 2015.. The Tupelo, Mississippi-based company said its earnings took a $4.1 million hit on the value of its its mortgage servicing rights. Lenders can sell the rights to service an existing mortgage to another firm or service the loans in-house, which saves the company money."/>
BancorpSouth's second-quarter profits slip [The Advocate, Baton Rouge, La.]
First Financial Bankshares Thursday reported another quarter of increased earnings-- 5.94 percent this time. Those earnings were tempered by oil prices and Mother Nature. Scott Dueser, chairman, president and CEO of the Abilene-based financial holding company, said he is pleased with the continued growth, and hopes things align better this quarter."/>
Oil prices, weather temper First Financial earnings growth [Abilene Reporter-News, Texas]
Spark Therapeutics is planning an expansion that could take it out of the city. While Spark, currently based in University City, has some Philadelphia sites on its radar, it's also considering locations in New Jersey and Delaware, according to brokers at real estate services firm JLL, which is aiding the company in its search. The move to expand comes as Spark-- one of the most..."/>
Expanding drug pioneer Spark mulls move from Philly birthplace [The Philadelphia Inquirer]
Hartford Financial Services Group's mutual funds unit is moving from Radnor to a larger space at the Chesterbrook Corporate Center in nearby Wayne, according to a company spokeswoman. Hartford Funds' headquarters will relocate from its 49,000- square-foot offices at 100 Matsonford Rd. to the new 76,000- square-foot space at 690 Lee Rd. in spring 2017, Jill Gordon said in an email Thursday. The move impacts 260 Hartford employees who work in the Radnor office, she said."/>
BRIEF: Hartford Funds moving HQ to Wayne [The Philadelphia Inquirer]
DNB Financial Corporation, today reported net income available to common stockholders in accordance with generally accepted accounting principles of $1.1 million, or $0.39 per diluted share, for the quarter ending June 30, 2016, compared with $1.2 million, or $0.43 per diluted share, for the same quarter, last year.. DNB Financial Corporation is the parent of DNB First, National Association, one of the first nationally-chartered community banks to..."/>
DNB Financial Corporation Reports Second Quarter 2016 Results
Charles Schwab Corporation has declared a regular quarterly cash dividend of $0.07 per common share. The dividend is payable August 26, 2016 to stockholders of record as of the close of business on August 12, 2016.. In addition, the Board of Directors of The Charles Schwab Corporation declared a regular quarterly dividend on the outstanding Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series B, in the amount of $15.00 per..."/>
Schwab Declares Regular Quarterly Common Stock Dividend and Preferred Stock Dividend
Nasdaq MarketSite in Times Square. In honor of the occasion, Barbara H. Lange, SMPTE Executive Director, will ring the Closing Bell. Where: Nasdaq MarketSite– 4 Times Square– 43 rd& Broadway– Broadcast Studio."/>
The Society of Motion Picture and Television Engineers to Ring The Nasdaq Stock Market Closing Bell

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