Industry News

Riverview Bancorp, Inc. and its wholly owned subsidiary Riverview Community Bank have agreed to acquire certain assets and assume certain liabilities of Oregon-based bank holding company Merchants Bancorp and its wholly owned subsidiary MBank, the company said. The agreement also provides that Riverview Bancorp will assume the obligations of Merchants Bancorp's trust preferred securities. As part of the transaction,..."/>
Riverview Community Bank to Acquire Assets from Oregon’s MBank
Fiera Capital Corp. 3 k has offered to acquire the entire share capital of London, England-based asset manager Charlemagne Capital Ltd., the company said. If the offer is completed, it would provide Fiera Capital with an entry into the emerging and frontier markets asset class and create a European platform to enhance the growth and distribution of Fiera Capital's existing investment strategies. Charlemagne Capital was..."/>
Fiera Capital Offers to Acquire UK Asset Manager Charlemagne Capital
Progressive Corp. said Thursday it plans to hire 127 people for its Colorado Springs call center and information technology operation by year's end as part of a nationwide hiring effort. The Ohio-based company, which employs 2,000 in the Springs, wants to 110 openings in its call center, 16 in its local information technology operation and one in human resources. The company is trying to fill 1,300 openings in information technology in Colorado Springs..."/>
Progressive insurance hiring 127 in Colorado Springs [The Gazette (Colorado Springs, Colo.)]
Sunshine Bancorp, Inc. and FBC Bancorp, Inc. have approved a deal under which Sunshine will acquire FBC and its Florida Bank of Commerce holding in an all-stock merger transaction valued at approximately USD 40 m, the companies said. This deal, which was announced in May, will create a franchise with approximately USD 800 m in assets and 18 banking facilities across central Florida, stretching from the East to West Coast."/>
Florida's Sunshine Bancorp, FBC Bancorp Win Shareholder Nods for USD 40m Tie-Up
Suffolk Bancorp vote in favour of the company's agreed deal to be acquired by Connecticut, US-based bank holding company People's United Financial, Inc., Suffolk said. Suffolk's Special Meeting of Shareholders will be held on 13 October..."/>
Big Three Proxy Advisors Recommend Suffolk Bancorp Shareholders Support for People's United Financial Merger
Westfield Financial, Inc. and Chicopee Bancorp, Inc. have approved the pending merger of the two banks, the companies said. Closing of the transaction remains subject to receipt of approval from the Massachusetts board of Bank Incorporation. This deal, which was announced in April, remains subject to receipt of approvals from the Massachusetts board of Bank Incorporation and the shareholders..."/>
Westfield Financial, Chicopee Bancorp Win Shareholder Nods for Merger
EZcorp, Inc. has completed the sale of Mexican consumer lender Prestaciones Finmart, S.A.P.I. de C.V., SOFOM, E.N.R. to Mexican consumer lending firm Alpha Holding, S.A. de C.V., the company said. EZcorp owned 94% of Grupo Finmart, a provider of consumer loans to government agency employees in Mexico. The company upped its stake to 94% in September 2015.."/>
EZCorp Sells Mexican Consumer Lender Grupo Finmart for USD 50m
Riverview Bancorp, Inc. and Merchants Bancorp."/>
Riverview Bank to purchase Gresham-based MBank [The Columbian, Vancouver, Wash.]
Standard Chartered Bank Co Ltd announced on Thursday the launch of direct trading business for Chinese currency with the UAE dirham and Saudi riyal and claimed that it became the first batch of direct trading market-makers for yuan against the two Gulf currencies in China's inter-bank forex market. Last week, China agreed to establish a direct trading pair between yuan, also called RMB, and the two Gulf currencies effective from September 26.."/>
StanChart launches dirham-yuan direct trading [Khaleej Times, Dubai, United Arab Emirates]
SolarCity's cash crunch continues to ease. The solar energy systems installer plans to raise $347 million to fund solar installations at homes and small businesses through a pair of funds arranged through Citigroup. The financing, coupled with a $305 million cash equity funding deal earlier this months, will give SolarCity more than $650 million in new financing to pay for its solar installations, many of which are sold using SolarCity's no-upfront cost sales model."/>
Citigroup, SolarCity reach deal to cover upfront installation costs for systems [The Buffalo News, N.Y.]
Sunshine Bancorp, Inc., the parent holding company of Sunshine Bank, and FBC Bancorp Inc., the parent holding company for Florida Bank of Commerce, today announced the results of their Special Meetings of Shareholders held on September 28 and September 29. Both meetings resulted in the approval of the proposal to adopt and approve the Merger Agreement of the companies. In addition to shareholder approval, as contemplated by the Merger Agreement, the Sunshine..."/>
Sunshine Bancorp, Inc. and FBC Bancorp Inc. Announce Shareholder Approval of Merger
Dime Community Bancshares, Inc. announced today that the Company was named to the Class of 2016 Sandler O'Neill+ Partners, L.P. To earn 2016 All-Star status, banks and thrifts with market capitalization below $2.5 billion needed to outperform industry peers in terms of balance sheet growth, profitability, credit quality, and capital strength. Kenneth J. Mahon, Dime's President and Chief Operating Officer, said, "Dime is honored to be recognized by Sandler..."/>
Dime Community Bancshares Named 2016 Sandler O'Neill Small Cap All-Star
Allstate Chairman and Chief Executive Officer Tom Wilson in the Washington Post. "Corporations should be encouraged and rewarded for stepping up to solve society's problems," Wilson wrote. "That will require a change in mind-set."/>
A View from Allstate's CEO: How Corporations Can Be a Force for Good
WSFS Financial Corporation, the parent company of WSFS Bank, today announced that WSFS Bank was named a 2016 Bank& Thrift“ Sm-All Star” by Sandler O’ Neill+ Partners.. The 27 top performing publicly traded small-cap banks and thrifts throughout the United States comprise the class of 2016. Sandler O’ Neill+ Partners, an investment banking firm and broker-dealer focused on the financial services sector, evaluated more than 400 publicly traded banks and..."/>
WSFS Bank Named 2016 Bank & Thrift “Sm-All Star” by Sandler O’Neill + Partners
Och-Ziff Capital Management Group LLC today announced that it has reached settlements with the Department of Justice and the Securities and Exchange Commission, resolving their investigations into the Firm’ s former private investment business in Africa and a 2007 investment by the Libyan Investment Authority in certain of the Firm’ s funds. As part of the settlements, the Firm’ s parent company, Och-Ziff Capital Management Group LLC, has entered into a..."/>
Och-Ziff Reaches Settlements with U.S. Department of Justice and U.S. Securities and Exchange Commission to Resolve FCPA Investigation
Voya Global Income Solutions Fund, announced today that the Fund will be terminated on or about November 30, 2016. On or about the Termination Date, the Fund will distribute to unitholders their pro rata portions of the remaining assets of the Fund attributable to each class of units. Payment is expected to be made as soon as practicable following the Termination Date."/>
Aston Hill Capital Markets Inc. Announces Termination of Voya Global Income Solutions Fund

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