Industry News

Pinnacle Financial Partners has contracted to be the first tenant in Boyle Investment Co.' s planned office building in East Memphis, at 949 Shady Grove, Boyle announced Wednesday. Pinnacle also has signage rights and is the construction lender for the six-story, 155,000- square-foot building. The structure at the southwest corner of Shady Grove and Briarcrest will serve as the bank's Memphis headquarters starting in the fall of 2017.."/>
Pinnacle Financial 1st tenant for Boyle's planned office building [The Commercial Appeal, Memphis, Tenn.]
Comerica Bank's Texas Economic Activity Index eased in May, down 0.6 percentage points to a level of 91.5. May's reading is 19 points, or 26 percent, above the index cyclical low of 72.8. The index averaged 97.5 points for all of 2015, seven and three-fifths points below the average for full-year 2014."/>
Comerica Bank's Texas Index Ticks Down
Northeast Indiana Bancorp, Inc.,, the parent company of First Federal Savings Bank, has announced that the Corporation will pay a cash dividend of $0.21 per common share. The dividend will be payable on August 23, 2016 to shareholders of record on August 9, 2016.. The book value of NIDB's stock was $28.49 per common share as of June 30, 2016."/>
Northeast Indiana Bancorp, Inc. Announces Quarterly Cash Dividend
Ameriprise Financial's second-quarter operating earnings fell 12.7 percent to $379 million, or $2.23 a share. Net income fell 19.3 percent to $335 million, or $1.97 a share, the company reported after the market closed on Tuesday. Operating earnings, which the company believes best represents the economics of the company, included after-tax adjustments of 17 cents per share for unfavorable items."/>
Ameriprise earnings drop in second quarter [Star Tribune (Minneapolis)]
Computershare Limited announced today its subsidiary Computershare Trust Company, N.A., a federally chartered trust company, has entered into referral arrangements with HighTower Advisors, LLC for wealth management services and TD Ameritrade, Inc., for brokerage services. These arrangements are an important part of Computershare's strategy to expand its offerings to its employee equity plans clients. "Our clients have expressed an..."/>
Computershare Now Offers Access To Wealth Management and Brokerage Services To Employee Equity Plan Clients
Mondelez will start selling Milka brand chocolate in China, hoping to capture a slice of a still-small market it believes is ripe for opportunity. Mondelez, maker of iconic brands including Cadbury and Nabisco, will start selling its Milka brand chocolate in China in September, hoping to capture a slice of a still-small market the company believes is ripe for opportunity. Deerfield-based Mondelez already sells items from its biscuit and gum categories in China."/>
Mondelez hopes for sweet success as it launches chocolate in China [Chicago Tribune]
FirstMerit Bank branches. The move boosts Indiana, Pa.-based First Commonwealth's presence in Northeast Ohio, giving it 11 branches in Canton and two in nearby Ashtabula. Once the deal is finalized this year, First Commonwealth will have the third largest market share by deposits in Canton."/>
BRIEF: First Commonwealth moving further into Ohio with FirstMerit Bank buy [The Pittsburgh Tribune-Review]
Comerica Bank, responsible for community development and corporate contributions in Michigan. Martinez, a Michigan native, returns to her home state after five years with Comerica in Texas. In addition to her new responsibilities, Martinez will continue to serve as Comerica's National Director of Hispanic Business Development."/>
Monica L. Martinez Named Senior Vice President, External Affairs, Responsible for Comerica's Community Outreach in Michigan
Univest Corporation of Pennsylvania, parent company of Univest Bank and Trust Co. and its insurance, investments and equipment financing subsidiaries, today announced financial results for the quarter ended June 30, 2016. Univest reported net income of $5.2 million or $0.27 diluted earnings per share for the quarter ended June 30, 2016, compared to net income of $6.5 million or $0.33 diluted earnings per share for the quarter ended June 30, 2015."/>
Univest Corporation of Pennsylvania - Univest Bank and Trust Co. - Reports Second Quarter Earnings
Alexander's, Inc. today announced that its Board of Directors has declared a regular quarterly dividend of $4.00 per share payable August 19, 2016 to stockholders of record on August 9, 2016.. Alexander's, Inc. is a real estate investment trust that has seven properties in the greater New York City metropolitan area. Certain statements contained herein may constitute "forward-looking statements" within the meaning of the Private Securities Litigation..."/>
Alexander's Declares Quarterly $4.00 Dividend on Common Shares
Consumer Portfolio Services, Inc. today announced the closing of its third term securitization in 2016. The transaction is CPS's 21st senior subordinate securitization since the beginning of 2011 and the fourth consecutive securitization to receive a triple“ A” rating on the senior class of notes from two rating agencies.. In the transaction, qualified institutional buyers purchased $318.5 million of asset-backed notes secured by $325.0..."/>
CPS Announces $318.5 Million Senior Subordinate Asset-Backed Securitization
Empire Bancorp, Inc., today announced its financial results for the quarter ended June 30, 2016.. "Year-to-date and quarterly consolidated earnings trends are positive," stated Douglas C. Manditch, Chairman and Chief Executive Officer. " Our earnings performance was driven largely by an increase in net interest income attributable to healthy growth in our average earning assets, fueled by strong deposit growth, partially offset by the impact of tightening..."/>
Empire Bancorp Announces Second Quarter Operating Results
Pennsylvania Real Estate Investment Trust plans to close most of the still-operating portions of the Gallery at Market East shopping mall before the end of the summer to work on the property's redevelopment. The closure is to come as PREIT nears completion of demolition work in the already-shuttered section of the mall between Eighth and 10th Streets along, chief executive Joseph Coradino said during a conference call with analysts Wednesday."/>
BRIEF: Remainder of Gallery set to close by summer's end, PREIT CEO says [The Philadelphia Inquirer]
First Clover Leaf Financial Corp. announced the approval by its Board of Directors of a cash dividend on its outstanding common stock of $0.06 per share for the quarter ended June 30, 2016. The dividend will be payable to stockholders of record as of August 19, 2016 and is expected to be paid on August 26, 2016. The Company has 7,005,883 shares of common stock outstanding.."/>
First Clover Leaf Financial Corp. Announces Quarterly Dividend
Mid Penn Bancorp, Inc., the parent company of Mid Penn Bank, today declared a quarterly cash dividend of $0.12 per common share, payable August 22, 2016 to shareholders of record as of August 10, 2016.. Mid Penn previously announced record quarterly earnings and total assets over $1 billion. Net income available to common shareholders for the quarter ended June 30, 2016 totaled $2,022,000, or $0.48 per common share basic and..."/>
Mid Penn Bancorp, Inc. Declares Quarterly Dividend
Comerica Bank's Michigan Economic Activity Index was down 0.6 percentage points in May to a level of 128.3. May's reading is 54 points, or 73 percent, above the index cyclical low of 74.0. The index averaged 123.7 points for all of 2015, five and four-fifths points above the index average for 2014."/>
Comerica Bank's Michigan Index Dipped as Auto Production Eased

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