Industry News

First Commonwealth Financial Corporation today announced that its banking subsidiary, First Commonwealth Bank, has signed a definitive agreement to acquire 13 branches in Canton and Ashtabula, Ohio, with $735 million of deposits and $115 million of retail and business loans from FirstMerit Bank, NA. The branches are being sold in connection with the previously announced acquisition of FirstMerit Corporation by Huntington Bancshares Inc., and the sale..."/>
First Commonwealth Building Its Ohio Business With Acquisition of 13 Branches
Huntington Bancshares Incorporated and FirstMerit Corporation today announced that, in connection with their proposed merger, FirstMerit Bank, N.A. will sell 13 branches within Stark and Ashtabula counties, with approximately $735 million in total deposits and $115 million in total loans as of May 31, 2016, to First Commonwealth Bank, the banking subsidiary of First Commonwealth Financial Corporation. The sale is in connection with an..."/>
FirstMerit, Huntington Announce Buyer in Pending Divestiture of 13 FirstMerit Canton, Ashtabula-Area Branches
State Street's Chairman and Chief Executive Officer said, "We are pleased with our..."/>
State Street Reports Second-Quarter 2016 GAAP-Basis EPS of $1.47 on Lower Expenses Compared to the Second Quarter of 2015
Walter Investment Management Corp. a diversified mortgage banking firm announced today it will release its second quarter results for 2016 before the market opens on Tuesday, August 9, 2016. The Company will host a conference call and audio webcast to discuss the financial results on Tuesday, August 9, 2016 at 9:00 a.m. ET. Please allow extra time prior to the call to download and install any needed audio software."/>
Walter Investment Management Corp. Invites You To Join Its Second Quarter 2016 Earnings Conference Call On The Web
First Commonwealth Financial Corporation today announced financial results for the second quarter of 2016.. The efficiency ratio improved to 57.1%, driven by lower operational expenses and higher revenue; Loans experienced solid growth from the prior quarter of 4.2% on an annualized basis; Deposits grew from the prior quarter at an annualized rate of 8.6%; The net interest margin remained relatively stable at 3.27%; and Noninterest income grew by 13.2%..."/>
First Commonwealth Announces Second Quarter 2016 Financial Results; Declares Quarterly Dividend
BNCCORP, INC., which operates community banking and wealth management businesses in North Dakota, Arizona and Minnesota, and has mortgage banking offices in Arkansas, Illinois, Kansas, Missouri, Minnesota, Arizona and North Dakota, today reported financial results for the second quarter ended June 30, 2016.. Net income available to common shareholders in the 2016 second quarter was $2.035 million, or $0.58 per diluted share, compared to..."/>
BNCCORP, INC. Reports Second Quarter Net Income To Common Shareholders Of $2.0 Million, Or $0.58 Per Diluted Share
Empire State Realty Trust, Inc. announces that JCDecaux has chosen the Empire State Building as home for its North American headquarters. JCDecaux, the world's number one outdoor advertising company, has leased two tower full floors, totaling 46,537 sq. ft. JCDecaux will occupy the entire 73 rd and 74 th floors of the World's Most Famous Building."/>
Empire State Building adds Number One Global Outdoor Advertising Company to Expanding Full-Floor Tenant Roster
First Horizon National Corp. has named FedEx Corp. executive Raj Subramaniam to its board of directors. First Horizon is the Memphis holding company that controls First Tennessee Bank. Subramaniam is executive vice president for global strategy, marketing and communications at FedEx."/>
BRIEF: FedEx exec joins First Horizon board [The Commercial Appeal, Memphis, Tenn.]
Sound Financial Bancorp, Inc. announced today that the Company’ s Board of Directors has authorized the repurchase of up to 50,000 shares or approximately 2% of the Company’ s outstanding shares. The shares may be purchased in the open market or in privately negotiated transactions, from time to time, over a twelve-month period depending upon market conditions and other factors.. Laurie Stewart, President and Chief Executive Officer of the Company, indicated..."/>
Sound Financial Bancorp, Inc. Announces Stock Repurchase Program
Prosperity Bancshares, Inc. ®, the parent company of Prosperity Bank ®, reported net income for the quarter ended June 30, 2016 of $68.071 million or $0.98 per diluted common share. Additionally, nonperforming assets remain low at 0.27% of second quarter average earning assets. "I am pleased to share the positive earnings we had for the second quarter of 2016, despite a large provision for credit losses and continued low interest rates."/>
Prosperity Bancshares, Inc.® Reports Second Quarter 2016 Earnings
Ares Commercial Real Estate Corporation announced today that it will release financial results for the second quarter 2016 on Thursday, August 4, 2016 prior to the opening of the New York Stock Exchange. The Company invites all interested persons to attend its webcast/conference call at 12:00 p.m. on the same day to discuss its second quarter 2016 financial results. All interested parties are invited to participate via telephone or the live webcast, which will be..."/>
Ares Commercial Real Estate Corporation Schedules Earnings Release for the Second Quarter 2016
Urstadt Biddle Properties Inc disclosed on Wednesday that it has closed its underwritten public offering of 2,750,000 shares of its class A common stock and received about USD64.0m of proceeds before offering expenses. Acting as sole book-running manager was Deutsche Bank Securities Inc.. The net proceeds will be used by the company to fully repay the outstanding borrowings under the company's existing credit facility, including borrowings incurred in connection with..."/>
Urstadt Biddle Properties closing offering of 2.8m class A common stock
UMB Financial Corporation revealed on Wednesday that Ram Shankar has been appointed as its chief financial officer. In this position, Shankar will be in charge of the overall financial management of the company, including financial planning and analysis, accounting, balance sheet management, investor relations, corporate investments, tax and board reporting. With almost two decades of industry experience, Shankar has specific expertise in financial planning, balance sheet..."/>
UMB Financial appoints Ram Shankar as CFO
Avidbank Holdings, Inc., a bank holding company and the parent company of Avidbank, an independent full-service commercial bank serving businesses and consumers in Northern California, announced unaudited consolidated net income of $3,299,000 for the second quarter of 2016 compared to $394,000 for the same period in 2015.. Year-to-Date and Second Quarter 2016 Financial Highlights. Net income was $4,507,000 in the first six months of 2016, compared to..."/>
Avidbank Holdings, Inc. Announces Net Income of $3,299,000 for the Second Quarter of 2016
UMB Financial Corporation has elected Tim Murphy to its board of directors, the company revealed on Wednesday. With almost three decades of experience in the trucking industry, Murphy is currently chief executive officer of Murphy-Hoffman Company, a private heavy and medium-duty truck dealer in North America. Also, Murphy has experience with organisational oversight, having served on many supplier councils to the trucking industry; served two terms as chairman of the North..."/>
UMB Financial's board elects Tim Murphy as director
Camden National Corporation on Tuesday reported a net income of USD9.6m or USD0.92 diluted earnings per share for the second quarter of 2016, up compared to the net income of USD7.2m or USD0.96 diluted earnings per share in the same quarter of 2015.. Net interest income for the second quarter was USD28.5m, increased from the net interest income of USD20.6m in the same quarter last year. Non-interest income was USD10.6m, up from the non-interest income of USD6.3m in the second..."/>
Camden National reports 11% higher net income for Q2 2016 over Q2 2015
Comerica Incorporated disclosed on Tuesday that its board of directors approved a quarterly cash dividend of USD0.23 per share on the company's common stock. This dividend which is an increase of 4.5% from that paid out earlier, will be paid on 1 October 2016 to shareholders of record on 15 September 2016.. Additionally, the board authorised an increase under the company's share repurchase programme by up to 10 m additional shares."/>
Comerica announces 4.5% higher dividend of USD0.23 per share for quarter
S&P Global reported on Tuesday that its board of directors authorised a regular common stock cash dividend of USD0.36 per share for the quarter. This dividend equals an annual rate of USD1.44 per share and will be paid on 12 September 2016, to shareholders of record on 26 August 2016. Also, the company said it has paid a dividend each year since 1937 and has increased its dividend annually for at least the last 43 years."/>
S&P Global announces dividend of USD0.36 per share for quarter

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