Industry News

Bharat Financial Inclusion Ltd on Thursday said S. Dilli Raj, president of the company, resigned from the services of the company effective 21 September."/>
BRIEF: Bharat Financial Inclusion president Dilli Raj resigns [Mint, New Delhi]
ICICI Bank Ltd will continue to bring back capital from its overseas subsidiaries as its international business stagnates, a top executive has said. Kannan, an executive director at India's second largest private sector lender, business at its wholly-owned subsidiaries has not been growing because Indian companies are not enthusiastically going abroad and seeking to acquire capacities. This means they don't require much funding from the bank's..."/>
ICICI Bank to funnel overseas capital to boost domestic focus [Mint, New Delhi]
Aflac and its duck have been great for the Columbus workforce and community as a whole, as well as those fortunate enough to have invested in the supplemental insurer all these years. After all, the company headquartered on Wynnton Road, with its Paul S. Amos campus in east Columbus, enjoys a local employee base approaching 4,000. And it racks up more than $21 billion in revenue each year from its business in the U.S. and Japan. Need we say its stock price also..."/>
Aflac and its duck help CureFest put spotlight on childhood cancer [Columbus Ledger-Enquirer, Ga.]
Compass Diversified Holdings has agreed to sell its majority owned subsidiary Florida-based medical devices maker Anodyne Medical Device, Inc., also doing business and known as Tridien Medical, to Chicago, Illinois-based medical technology company Hill-Rom, Inc, the company said. CODI does not expect to record a significant gain or loss as a result of the sale. The proceeds will be used to pay down..."/>
Compass Diversified Holdings Sells Medical Device Maker Tridien
M and A Navigator: Deal pipeline –23 September
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 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
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
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
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
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
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

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