Industry News

Macy's announced plans Thursday to close about 100 stores nationwide as it struggles to define itself amid changing shopping patterns, but a retail analyst who follows the Valley predicts the chain's 40- year anchor at The Lehigh Valley Mall likely will be spared in the consolidation. The closures represent close to 14 percent of the chain's 728 stores nationwide. It follows Macy's move to shutter 40 stores in the spring and comes as the company..."/>
Will Lehigh Valley Mall Macy's survive closure threat? [The Morning Call (Allentown, Pa.)]
Mint, New Delhi, Ira Dugal column [Mint, New Delhi]
Mint, New Delhi, Ragini Bhuyan column [Mint, New Delhi]
IDBI Bank Ltd on Thursday said net profit in the June quarter rose 78.35% from a year ago, thanks to a large tax write-back during the quarter. Net profit was Rs.241.10 crore, up from Rs.135.18 crore a year earlier. According to a Bloomberg poll of three analysts, the bank was expected to post a net loss of Rs.750.70 crore."/>
IDBI Bank Q1 net profit rises 78% to Rs241.10 crore on tax write-back [Mint, New Delhi]
Dilip Buildcon Ltd rose 15.05% on its debut on Thursday after its Rs.664 crore initial public offering saw nearly 21 times subscription last week. Dilip Buildcon shares closed up 15.05% at Rs.251.95 apiece on BSE, from its issue price of Rs.219. They had opened at Rs.240, and touched a high and low of Rs.244.90 and Rs.239.25, respectively."/>
Dilip Buildcon shares rise 15.05% on stock market debut [Mint, New Delhi]
First Interstate BancSystem, Inc.' s First Interstate Bank subsidiary has completed its acquisition of Montana, US-based Flathead Holding's Flathead Bank of Bigfork subsidiary, the company said on Friday. Immediately following the acquisition, Flathead Bank was merged into First Interstate Bank, with First Interstate Bank as the resulting institution. In accordance with the definitive agreement, cash consideration for the..."/>
First Interstate BancSystem Acquires Montana’s Flathead Bank of Bigfork for USD 34m
HomeStreet, Inc. has closes an agreement for its HomeStreet Bank to acquire certain assets and limited liabilities, including deposits, from The Bank of Oswego relating to its two branches in Lake Oswego, Oregon, the company said on Friday. The branches now acquired by HomeStreet Bank are located in Lake Oswego, Oregon. As of March 31, 2016, total deposits are approximately USD 52.4 m for both branches."/>
HomeStreet Closes Acquisition of Two Oregon Branches from The Bank of Oswego
INTL FCStone Inc. has closed agreement with Missouri-based retail brokerage Stifel Financial Corp.' s Alabama-based Sterne Agee LLC retail and institutional brokerage subsidiary to acquire its correspondent securities clearing business and independent wealth management business, the company said. This transaction involves the purchase of three broker dealer entities and two registered investment adviser..."/>
INTL FCStone Closes Acquisition of Two Businesses from Brokerage Sterne Agee
Olympia Financial Group Inc. today announced its operating and financial results for the three months ended June 30, 2016.. The unaudited condensed interim financial statements and notes, as well as management's discussion and analysis, are now available on SEDAR. Results from Operations, include the following:."/>
Olympia Financial Group Inc. Announces Second Quarter 2016 Results
NEXT GROUP CLOSES ACQUISITION OF US TELECOMMUNICATIONS MARKETING BRAND TEL3. Miami, Florida-based telecommunications company Next Group Holdings, Inc. has closed the acquisition of the US-based telecom marketing brand Tel3, together with the assets and client database of Tel3, from NXGH CEO Arik Maimon, the company said."/>
M and A Navigator: Deal pipeline –12 August
Callidus Capital Reports Results for Second Quarter 2016
Genesis Land Development Corp. is pleased to report its financial and operating results for the three and six months ended June 30, 2016.. Our key financial results and operating data are as follows:. Overview of Market and Operating Results."/>
Genesis Reports 2016 Second Quarter Results
Moody's, one of the nation's three large bond rating agencies, said Thursday that the governor's refusal to spend the money the General Assembly allocated for teachers pensions and aging schools is a "credit negative" for 21 counties and the city. The governor's move was part of a larger decision to..."/>
Hogan budget decision is a credit ding for Baltimore and 21 Maryland counties, Moody's says [The Baltimore Sun]
Farmers Capital Bank Corporation announced today that its Board of Directors approved a plan to consolidate the Company’ s four bank subsidiaries into one company. The merged bank will be named United Bank& Capital Trust Company and headquartered in Frankfort, Kentucky. The parent company will continue to operate under its current name."/>
Farmers Capital Bank Corporation Announces Plan to Consolidate Banking Operations
United Community Bancorp, the parent company of United Community Bank, today reported net income of $810,000, or $0.20 per diluted share, for the quarter ended June 30, 2016. Net income increased by $115,000, or 16.5%, as compared to the quarter ended June 30, 2015. Earnings per diluted share for the quarter ended June 30, 2016 increased by 25.0% when compared to the quarter ended June 30, 2015 primarily due to an increase in earnings and a..."/>
United Community Bancorp Reports Fourth Quarter and Year End Results
Chesswood Group Limited announced today its results for the three and six months ended June 30, 2016.. The Company generated operating earnings of $9.0 million in the second quarter this year, compared to $8.1 million in the first quarter of this year and $8.4 million in the second quarter of last year. In addition, originations during the quarter were at an all-time high, growing by more than 20% over the second quarter of last year."/>
Chesswood Announces Second Quarter Results for 2016
CVB Financial Corp. announced today that its Board of Directors authorized an increase in the company’ s common stock repurchase program. Under its share repurchase program originally announced on July 16, 2008, the company has repurchased approximately 2.58 million shares for approximately $22.6 million. As of June 30, 2016, 7.42 million shares remained available for repurchase."/>
CVB Financial Corp. Announces Authorization to Increase Share Repurchase Plan to 10 Million Shares

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