Industry News

Commerce Union Bancshares, Inc., parent of Reliant Bank, announced today that members of its management team will make a presentation at the KBW Community Bank Investor Conference in New York on August 3, 2016. Representing Commerce Union Bancshares at the investor conference will be Ron DeBerry, Chairman and CEO and Dan Dellinger, Chief Financial Officer. All materials pertaining to Commerce Union Bancshares’ presentation to investors may be accessed..."/>
Commerce Union Bancshares, Inc. to Participate at KBW Community Bank Investor Conference
First Niagara Financial Group reported a 24 percent drop in its second-quarter profits, as the bank prepares to be acquired by KeyCorp. Buffalo-based First Niagara recorded net income of $46.4 million, down from $61 million a year ago. It reported diluted earnings per share of 11 cents, down from 15 cents the year before, but topping analysts' average estimate of 15 cents per share."/>
First Niagara quarterly profits fall 24 percent [The Buffalo News, N.Y.]
Evans Bancorp has achieved a long-sought goal: $1 billion in total assets. The Hamburg-based bank hit the target in the second quarter, when it also recorded a 20 percent increase in profits from a year ago, to $2 million. It had net income per diluted share of 46 cents, up from 39 cents a year ago."/>
Evans Bancorp hits target of $1 billion in assets [The Buffalo News, N.Y.]
Salisbury Bancorp, Inc.,, the holding company for Salisbury Bank and Trust Company, announced results for its second quarter ended June 30, 2016.. Net income available to common shareholders was $1.7 million, or $0.63 per common share, for the second quarter ended June 30, 2016, compared with $1.5 million, or $0.55 per common share, for the first quarter ended March 31, 2016, and $2.0 million, or $0.74 per common share, for the second quarter ended June 30,..."/>
Salisbury Bancorp, Inc. Reports Results for Second Quarter 2016; Declares 28 Cent Dividend
San Antonio Family Becomes First-Generation Homeowners
SmartFinancial, Inc., announced today net income of $1.2 million in its second quarter, compared to $0.1 million a year ago. In the third quarter 2015, SmartFinancial successfully completed the merger of two holding companies, legacy SmartFinancial, Inc. and Cornerstone Bancshares, Inc., and carried forward the name "SmartFinancial, Inc." In the first quarter of 2016 SmartFinancial completed the merger of Cornerstone Community Bank..."/>
SmartFinancial Reports Second Quarter Results
Assured Guaranty operating companies’ financial strength ratings of AA, which is the highest rating that S&P currently assigns to any active financial guarantor."/>
S&P Affirms Assured Guaranty’s AA Financial Strength Ratings with Stable Outlook
Intercontinental Exchange, a leading operator of global exchanges, clearing houses and data services, today announced that it has entered into an agreement to sell certain U.S. voice brokerage operations of Creditex to Tullett Prebon, one of the world’ s leading interdealer brokers. ICE will retain the electronically traded markets and systems, post-trade connectivity platforms and intellectual property of Creditex, which serves the global credit default..."/>
Intercontinental Exchange Announces Agreement for the Sale of the Voice Brokerage Operations of Creditex to Tullett Prebon
First American Financial Corporation, a leading global provider of title insurance, settlement services and risk solutions for real estate transactions, today released the First American Loan Application Defect Index for June 2016,..."/>
Loan Application Defect and Fraud Risk Declines Due to Benefits of Low Mortgage Rates, According to First American Loan Application Defect Index
American Financial Group, Inc. and its insurance subsidiaries, and the ratings of National Interstate Corporation and its insurance subsidiaries are unchanged following the July 25, 2016, announcement that an agreement has been reached under which AFG will acquire all shares of NATL not currently owned by AFG’ s subsidiary Great American Insurance Company. Under the terms of the agreement AFG reached with the Special Committee of the..."/>
A.M. Best Comments on Ratings of American Financial Group, Inc. and National Interstate Corporation Following Announcement of Merger Agreement
German American Bancorp, Inc., will be presenting at the Keefe Bruyette& Woods 2016 Community Bank Investor Conference which will be held August 2 nd and 3 rd in New York City.. Mark A Schroeder, Chairman and Chief Executive Officer of German American, together with Bradley M. Rust, Executive Vice President and Chief Financial Officer, will present the Company's business strategy and financial performance at 2:00 p.m. EDT, on Tuesday, August 2 nd."/>
German American Bancorp, Inc. to Present at KBW Community Bank Investor Conference
James River Group Holdings, Ltd. announced today that the A.M. Best Company upgraded the financial strength ratings of its subsidiary insurance and reinsurance companies to“ A” from“ A-”.. In a news release announcing its decision to upgrade James River’ s subsidiary insurance and reinsurance companies’ financial strength ratings, A.M."/>
James River Group Holdings, Ltd. (NASDAQ: “JRVR”) Upgraded to “A” by A.M. Best
Northway Financial, Inc., the parent company of Northway Bank, today reported net income for the quarter ended June 30, 2016 of $1.5 MM, or $0.56 per basic common share. Year-to-date, the Company reported net income of $3.1 MM, or $1.12 per basic common share. President and Chief Executive Officer, William J. Woodward, stated, "We are pleased to report that our level of nonperforming loans continues to decline, a reflection of our efforts to resolve our problem..."/>
Northway Financial, Inc. Announces Second Quarter Earnings
Nasdaq MarketSite in Times Square to celebrate the first decade of the Baltic Market Awards, and the company’ s special nomination as a "Top Performer Over 10 Years,” for displaying the greatest increase in share price and BMA ranking in the last 10 years. In honor of the occasion, Velerijs Maligins, Chief Executive Offer, will ring the Closing Bell. Where: Nasdaq MarketSite– 4..."/>
OlainFarm to Ring The Nasdaq Stock Market Closing Bell
Nasdaq MarketSite in Times Square. In honor of the occasion, Rodney Hershberger, CEO and Chairman of the Board, will ring the Opening Bell. Where: Nasdaq MarketSite– 4 Times Square– 43 rd& Broadway– Broadcast Studio."/>
PGT, Inc. (Nasdaq: PGTI) to Ring The Nasdaq Stock Market Opening Bell
Middleburg Financial Corporation, today announced record net income of $2.65 million, or $0.37 per diluted share, for the quarter ended June 30, 2016.. Second quarter 2016 highlights include:. Net income for the quarter increased by 29.10% to $2.65 million, or $0.37 per diluted share, compared to $2.06 million, or $0.29 per diluted share, for the previous quarter and by 16.36%, compared to $2.28 million, or $0.32 per diluted share, for the same..."/>
Middleburg Financial Corporation Announces Record Net Income For Second Quarter 2016
State Bank of India on Friday said that it will reduce its marginal cost lending rate-- the benchmark lending rate at which banks lend to new borrowers--by 5 basis points across maturities, effective 1 August. A basis point is one-hundredth of a percentage point, or 0.01%. In a statement on its website, India's largest lender said that, starting Monday, it will be reducing its one-year MCLR to 9.1%, from the current rate of 9.15%."/>
SBI to lower MCLR by 5 bps from 1 August [Mint, New Delhi]
Ohio Valley Banc Corp. has reported consolidated net income for the quarter ended June 30, 2016, of USD1, 706,000, an increase of 21 percent from the USD1, 410,000 earned for the second quarter of 2015, the company said. For the six months ended June 30, 2016, net income totaled USD4, 538,000, a 9.9 percent decrease from net income of USD5, 034,000 for the six months ended June 30, 2015.. Return on average assets and return on average equity were 1.05 percent and 9.88 percent,..."/>
Ohio Valley Banc reports Q2 2016 net income of USD1.7m
Columbia Banking System, Inc. has declared a quarterly cash dividend of USD0.20 per common share, and per common share equivalent for holders of preferred stock, the company said. The dividends will be paid on August 24, 2016 to shareholders of record as of the close of business on August 10, 2016. This is a five percent increase from the USD0.19 regular cash dividend paid during the second quarter 2016 and an 11 percent increase from the USD0.18 paid during the first quarter 2016.."/>
Columbia Banking increases regular cash dividend
Arrow Financial Corporation has declared a quarterly cash dividend of USD0.25 per share, the company said. The dividend is payable September 15, 2016, to shareholders of record September 2, 2016. This represents an increase of two percent over the cash dividend paid in the third quarter of 2015.."/>
Arrow Financial declares cash dividend
BancorpSouth, Inc. has declared a quarterly cash dividend of USD0.125 per common share, representing an increase of USD0.025 per common share, or 25 percent, compared to its most recent dividend of USD0.10 paid on July 1, 2016, the company said. The dividend is payable October 3, 2016 to shareholders of record at the close of business on September 15, 2016.. BancorpSouth, Inc. is a financial holding company of BancorpSouth Bank, headquartered in Tupelo,..."/>
BancorpSouth increases quarterly dividend
Central Pacific Financial Corp. has reported net income for the second quarter of 2016 of USD12.1 million, compared to net income in the second quarter of 2015 of USD12.3 million, and net income in the first quarter of 2016 of USD11.2 million, the company said. During the second quarter of 2016, the company repurchased 259,200 shares of common stock at a total cost of USD5.8 million. During the six months ended June 30, 2016, the company repurchased a total of 492,922 shares of..."/>
Central Pacific Financial reports USD12m Q2 2016 net income
IBERIABANK Corporation, holding company of the 129- year-old IBERIABANK has reported income available to common shareholders of USD50.0 million, the company said. During the second quarter, the company said it continued to reduce energy related exposures as a result of reduced commitments, increased levels of loan pay-downs, and charge-offs of specific energy-related credits. Energy-related loans decreased USD70 million, or 10 percent, between March 31, 2016 and June 30,..."/>
IBERIABANK reports Q2 2016 net income of USD50m

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