Industry News

DLF Ltd and global investor Blackstone Group LP have arrived at a mutual decision to divide the shareholding agreement for the seven properties the two partners own across Chennai, Bengaluru, Kochi and Indore, after more than a year of negotiations. Blackstone gets to keep two land assets in Bengaluru and one in Chennai, and the other four--two in Chennai and one each in Kochi and Indore--remain with DLF, said two people familiar with the deal."/>
DLF, Blackstone realign shareholding deal [Mint, New Delhi]
State Bank of India and Brookfield Asset Management Inc. propose to launch a joint venture fund to which the Canadian partner has agreed to commit Rs.7, 000 crore to purchase distressed assets. SBI, India's largest lender, will contribute up to 5% of the total investments made by the fund under an in-principle agreement with Brookfield announced on Wednesday. The fund will independently evaluate and invest in various stressed assets and will rely on the Canadian asset..."/>
SBI, Brookfield to launch stressed asset management fund [Mint, New Delhi]
IIFL Holdings Ltd on Wednesday said CDC Group Plc, the development finance institution owned by the UK government, will invest about Rs.1, 000 crore in its unit India Infoline Finance Ltd. CDC's investment will help the IIFL Group expand its financing business and address the capital needs of under-served segments, it said in a release. "CDC was the first private equity investor in IIFL during our start-up phase in 1999."/>
UK govt fund CDC Group to invest Rs1,000 crore in India Infoline Finance [Mint, New Delhi]
GEO Group soar? There's a growing consensus that the Boca Raton-based company, which runs detention centers for U.S. Immigration and Customs Enforcement, would house more inmates in a Trump administration."/>
Best of Our Blogs: Trump and GEO Global; Robocall fraud refund [The Palm Beach Post, Fla.]
Moody's Investors Service's outlook for Qatar's banking system remains stable, unchanged since 2010.. The outlook reflects the rating agency's expectation that operating conditions will remain favorable for Qatari banks as a result of high government spending amid low oil prices. The outlook expresses Moody's expectation of how bank creditworthiness will evolve in Qatar over the next 12-18 months."/>
Moody's maintains stable outlook on Qatar's banking system [Arab News, Jeddah, Saudi Arabia]
Abbott Laboratories in Illinois. "I think both Boston Scientific and Medtronic are licking their lips in terms of potential market share that could come up for grabs," Piper Jaffray analyst Brooks West said after separate earnings calls..."/>
With acquisition pending, St. Jude Medical's rivals 'licking their lips,' analyst says [Star Tribune (Minneapolis)]
SABMiller after agreeing to give up ownership of the Miller brands in the U.S. and open the door to greater competition from craft brewers. With the green light from the Justice Department, Belgium-based A-B InBev said it was on track to complete the transaction-- the biggest-ever combination in the beer industry-- in the second half of 2016.. The world's largest brewer, which has..."/>
U.S. approves A-B InBev acquisition of SABMiller [St. Louis Post-Dispatch]
United Bank posted lower profits in the second quarter, as expenses rose and fee income fell. United Financial Bancorp Inc. said net income was $9.1 million, or 18 cents per diluted share, for the quarter ended June 30, compared with $13.3 million, or 27 cents per share, a year earlier. The bank announced its earnings after market close Tuesday."/>
BRIEF: United Bank Parent Posts Lower Quarterly Profits [The Hartford Courant]
First Connecticut Bancorp Inc. said net income was $3.6 million, or 24 cents a diluted share, compared with $3.5 million, or 23 cents a diluted share, a year earlier, in an announcement after market close. Without one-time gains and losses, operating earnings in the most recent quarter were $3.4 million, or..."/>
BRIEF: Farmington Bank Parent Posts Higher Profits [The Hartford Courant]
M and A Navigator: Deal pipeline –21 July
Central Valley Community Bancorp, the Fresno-based parent company of Central Valley Community Bank, saw a 71 percent increase in revenue in its first six months of 2016, up from the same time frame last year. The company brought in $9.5 million, or $0.86 per share, in earnings in the last six months, which is an increase from $5.5 million, or $0.50 per share, for January through June of 2015.. For the second quarter, or the months of April, May and June, Central Valley Community had..."/>
Central Valley Community Bancorp reports 71 percent jump in revenue [The Fresno Bee]
Bank of the Ozarks, Inc. has closed its acquisition of Community and Southern Holdings, Inc. and its Community and Southern Bank subsidiary, the company said. This all-stock transaction is valued at approximately USD 799.6 m, or approximately USD 20.50 per fully diluted CSB share. The transaction is expected to be accretive to OZRK's diluted earnings per common share for the first twelve months after the transaction closes and..."/>
Bank of the Ozarks Closes USD 799.6m Acquisition of Community and Southern
MB Financial, Inc., the holding company for MB Financial Bank, N.A., today announced 2016 second quarter net income available to common stockholders of $41.4 million, or $0.56 per diluted common share, compared to $37.1 million, or $0.50 per diluted common share, last quarter and $39.0 million, or $0.52 per diluted common share, in the second quarter a year ago.. Growth in Operating Earnings for the Quarter. Operating earnings increased by $3.0 million, or $0.04 per..."/>
MB Financial, Inc. Reports Earnings for the Second Quarter of 2016
Historic S&S Diner faces eviction [The Miami Herald]
Simmons First National Corporation today announced net income available to common shareholders of $22.9 million for the second quarter of 2016, an increase of $2.9 million, or 14.4 percent, compared with the same quarter last year. Diluted earnings per share were $0.75, an increase of $0.08, or 11.9 percent.. Included in second quarter 2016 results were $2.2 million of after-tax expenses related to noncore items."/>
Simmons Reports Second Quarter Net Income of $22.9 Million, or $0.75 per share
Trez Capital Mortgage Investment Corporation announced today that its board of directors has declared a distribution of $0.0583 per Class A share of the Company. The distribution, which constitutes a return of capital pursuant to the winding-up of the Company's business as approved by Shareholders on June 16, 2016 will be paid on August 15, 2016 to holders of Class A shares of record on July 31, 2016. As of July 19, 2016, there were 18,885,806 Class A..."/>
Trez Capital Mortgage Investment Corporation announces July 2016 distribution
Farmers Capital Bank Corporation reported net income of $3.6 million or$. 47 per common share for the second quarter and $9.7 million or $1.30 per common share for the first six months of 2016. Net income for the current quarter decreased $2.6 million or 42.5% compared with the current-year first quarter, which represents a decrease of$. 35 per common share. Linked quarter per common share earnings declined$. 35 primarily due to a nonrecurring gain on the..."/>
Farmers Capital Bank Corporation Announces Second Quarter Earnings
AMERICAN BUSINESS BANK today reported net income of $3,278,000 for the second quarter of 2016. Earnings per share were $0.49 at the end of the second quarter of 2016 versus $0.47 at the end of the second quarter of 2015. The Bank’ s“ core” earnings per share for the same period were $0.30 for 2016 versus $0.41 in 2015.."/>
AMERICAN BUSINESS BANK Announces Its Results for the Second Quarter Ended June 30, 2016, Including 11% Loan Growth and 8% Deposit Growth over 2015 Second Quarter.

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