Industry News

CVB Financial Corp. and Valley Commerce Bancorp have entered into a merger agreement under which CVB Financial Corp. will acquire Valley Commerce Bancorp and its Valley Business Bank, the companies said. Valley Business Bank had USD 416 m in assets as of 30 June, and has four locations in Visalia, Tulare, Fresno, and Woodlake, California. CVBF expects the transaction to result in modest earnings accretion in 2017,..."/>
California’s CVB Financial to Acquire Valley Commerce Bancorp in USD 80.9m Deal
PHI Group has agreed to acquire an agriculture company in Southeastern US for a combination of 81% in cash and 19% in stock, the company said. TCA Global Fund has agreed to fund the cash component of this transaction from a USD 15 m acquisition facility and the balance thereof will paid in PHI stock. PHI said it plans to complete the due diligence review of the target as soon as possible, allowing for the subsequent closing..."/>
PHI Group to Acquire Agriculture Company in Southeastern US
Valley Commerce Bancorp shareholders receive both cash and stock in the transaction, as well as a special cash dividend paid prior to close Strengthens Citizens Business Bank’ s presence in the Central Valley Immediately accretive to CVB Financial Corp.’ s earnings per share. ONTARIO, Calif.& VISALIA, Calif.---- CVB Financial Corp. and Valley Commerce Bancorp announced today that they have entered into a merger agreement, pursuant to which CVB Financial Corp. will acquire Valley..."/>
CVB Financial Corp. and Valley Commerce Bancorp Announce Merger
KeyCorp will bring 1,000 of its employees-- some from as far away as Alaska-- to help workers at 300 First Niagara branches in four states make the transition to KeyBank. Key has also staffed up its call centers with 350 additional employees ready to take customer calls as First Niagara customers switch to Key over Columbus Day weekend in early October. These steps, among others taken during months of preparations, have Key officials feeling confident about converting First..."/>
Columbus Day weekend circled on calendar for KeyBank switch [The Buffalo News, N.Y.]
First American Financial Corp. has closed the acquisition of New Jersey-based title and real property research provider RedVision Systems, Inc, the company said. This deal was announced earlier this month. RedVision, which will become part of First American's Data and Mortgage Solutions division, will operate as a business unit under its brand and its management team, with CEO Brian Twibell continuing to lead the..."/>
First American Closes Acquisition of Title, Real Property Research Firm RedVision
First Defiance Financial Corp. announced today that it intends to report third quarter results on Monday, October 17, 2016 after the close of the market. The earnings news release will be available on the company’ s investor relations website at www.fdef.com and at major financial information sites. ET on Tuesday, October 18, 2016, First Defiance will host a conference call at which Donald P. Hileman, President and CEO, and Kevin T. Thompson, Executive Vice President..."/>
First Defiance Financial Corp. to Release Third Quarter Earnings on October 17 and Host Conference Call and Webcast on October 18
IOU Financial Inc., a leading online lender to small businesses, announced today a restructuring plan that will begin in September 2016 and reflect the Company's long-term outlook for loan origination growth of 25% to 30% annually. The plan includes a reduction in the Company's operating expenses as well as a workforce restructuring. Moreover, going forward the Company plans to focus more of its efforts on forming strategic partnerships with..."/>
IOU Financial Announces Restructuring to Accelerate Path to Profitable Growth
BancorpSouth, Inc. Directors Keith Jackson and Shannon Brown have been named to Savoy' s 2016 Most Influential Black Corporate Directors. Savoy Magazine, one of the leading business publications in the country, has recognized distinguished Black professionals who contribute their experience and talents to the corporate boards of leading public companies and major organizations. Keith Jackson is President of Positive Atmosphere..."/>
Keith Jackson and Shannon Brown named to Savoy Magazine's Power 300 2016 Most Influential Black Corporate Directors
PRA Group, Inc., a global leader in acquiring and collecting nonperforming loans, today announced its UK business has received full authorization from the Financial Conduct Authority, which covers all credit and lending operations and includes permissions for debt collection and debt administration in the United Kingdom.. The FCA is the conduct regulator for 56,000 financial services firms in the UK and the prudential regulator for over 24,000 of..."/>
PRA Group (UK) Receives Full Authorization from the Financial Conduct Authority
Stifel Financial Corp., today announced that Richard Klein has joined as Managing Director in New York. Klein brings over twenty years of experience to Miller Buckfire. Most recently, he was a Managing Director at Jefferies LLC in their Restructuring and Recapitalization group."/>
Richard Klein Joins Miller Buckfire as Managing Director
Onex Corporation today declared a third-quarter dividend of C $0.06875 per Subordinate Voting Share payable on October 31, 2016 to shareholders of record on October 7, 2016.."/>
Onex Third-Quarter Dividend Declared
Capitala Finance Corp. declared normal distributions for the fourth quarter of 2016.. On September 22, 2016, the Company’ s Board of Directors declared normal monthly distributions for the fourth quarter of 2016 as set forth below:. Contributing factors in the distribution reduction were pressure on the Company’ s net investment income from losses associated with reducing our exposure to energy, an unwillingness to chase yield on new investment..."/>
Capitala Finance Corp. Announces Distributions
Arch Capital Group Ltd. announced today that it has priced an underwritten public offering of 18,000,000 Depositary Shares, each of which represents a 1/ 1,000 th interest in a 5.25% Non-Cumulative Preferred Share, Series E, of ACGL. The public offering price is $25 per Depositary Share for an aggregate public offering price of $450 million. The underwriters have been granted a 30- day option to purchase up to an additional 2,700,000 Depositary Shares."/>
Arch Capital Group Ltd. Announces $450 Million Public Offering of Depositary Shares Representing Series E Preferred Shares
First Bancorp, the parent company of First Bank, reports that First Bank has entered into an agreement with the Federal Deposit Insurance Corporation that terminates all loss share agreements between First Bank and the FDIC. The loss share agreements were related to two failed bank acquisitions from 2009 and 2011.. Under the terms of the agreement, First Bank paid $2.0 million to the FDIC and all rights and obligations related to..."/>
First Bancorp Reports the Early Termination of All FDIC Loss Share Agreements
Wayne Savings Bancshares, Inc.,, the holding company parent of Wayne Savings Community Bank, has declared a cash dividend of $0.09 per share of the Company’ s common stock for the quarter ending September 30, 2016. This represents an annualized dividend of$. 36 per share. The quarterly cash dividend will be paid on October 26, 2016 to stockholders of record as of October 12, 2016.."/>
Wayne Savings Bancshares, Inc. Declares Quarterly Dividend and Adoption of Stock Repurchase Program
Heritage Oaks Bancorp, the holding company of Heritage Oaks Bank, will host a conference call on Friday, October 28, 2016 at 8:00 a.m. Pacific Time to discuss its operating results for the third quarter ending September 30, 2016, which will be released after the close of business on Thursday, October 27, 2016. Interested parties can listen to the conference call by dialing 363-5052 Conference ID: 86200162 or by webcast via Heritage Oaks Bancorp's..."/>
Heritage Oaks Bancorp Schedules Third Quarter Conference Call
Ottawa Savings Bancorp, Inc., the parent company for Ottawa Savings Bank, announced today that, at separate meetings held today, both the stockholders of the Company and the members of Ottawa Savings Bancorp MHC have approved the Plan of Conversion and Reorganization pursuant to which the MHC will convert from the mutual holding company to the stock holding company form of organization. Upon completion of the conversion, the MHC and the Company will cease to exist..."/>
Ottawa Savings Bancorp, Inc. Announces Results of Special Meetings of Stockholders and Members
First Bancorp today declared a quarterly dividend of 23 cents per share. This third-quarter dividend is payable October 28, 2016, to shareholders of record as of October 5, 2016, and is equal to the 23 cents per share the Company paid in the past quarter. Based on the September 21, 2016 closing price of $23.50 per share, the annualized dividend of 92 cents per share translates into a yield of 3.91%."/>
The First Bancorp Keeps Quarterly Dividend at 23 Cents per Share
Western Asset Mortgage Capital Corporation announced today that its Board of Directors has declared a cash dividend of $0.31 per share for the third quarter of 2016. Today's dividend is payable on October 25, 2016 to common shareholders of record as of October 4, 2016, with an ex-dividend date of September 30, 2016.. In addition, the Company estimates that its book value per share, as of August 31, 2016, was approximately $11.54."/>
Western Asset Mortgage Capital Corporation Declares Third Quarter Dividend Of $0.31 Per Share
AXIS Capital Holdings Limited today announced that the Company’ s Board of Directors has declared a quarterly dividend of $0.35 per common share. The common dividend will be payable on October 17, 2016 to the shareholders of record at the close of business on October 3, 2016.. In addition, the Board declared a dividend of $0.429688 per Series C 6.875% Preferred Share and a dividend of $0.34375 per Series D 5.5% Preferred Share."/>
AXIS Capital Declares Quarterly Dividends on Common and Preferred Shares
Hanover Insurance Group, Inc. today announced that Jeffrey M. Farber has been appointed executive vice president and chief financial officer. Farber's responsibilities will span the finance, accounting, investment, actuarial, enterprise risk management, treasury and investor relations functions. He will join the company on October 1 as executive vice president and senior finance officer and will assume the role of chief..."/>
The Hanover Insurance Group, Inc. Appoints Jeffrey M. Farber Executive Vice President and Chief Financial Officer
Preferred Bank, an independent commercial bank focusing on the diversified California market, today reported that the Board of Directors has declared a quarterly cash dividend of $0.15 per share payable on October 21, 2016 to holders of record on October 7, 2016.. Preferred Bank is one of the larger independent commercial banks headquartered in California. The Bank is chartered by the State of California, and its deposits are insured by the Federal..."/>
Preferred Bank Announces Quarterly Cash Dividend
Impac Mortgage Holdings, Inc., announced today that its President, William Ashmore, and its Chief Financial Officer, Todd Taylor, will present at the JMP Financial Services& Real Estate Conference on Tuesday, September 27th, 2016 at 1:30 pm E.T.. A live audio webcast of the presentation will be available on the Investor Relations section of Impac Mortgage Holdings, Inc. website at http://ir.impaccompanies.com. A replay of the presentation will be..."/>
Impac Mortgage Holdings, Inc. to Present at the JMP Financial Services & Real Estate Conference

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