Industry News

Heritage Financial Corp., which announced earnings Thursday, reported it earned a $8.9 million profit in the quarter, or 30 cents a share, compared with $8.7 million profit, or 29 cents a share, in the same period a year ago. Loan growth has been strong."/>
Heritage Financial reports second-quarter profit of nearly $9 million [The Olympian (Olympia, Wash.)]
Assured Guaranty Ltd. released the following statement regarding the motion and form of complaint it filed today challenging the Commonwealth of Puerto Rico’ s Executive Orders diverting pledged toll revenue collateral that secures the payment of bonds issued by the Puerto Rico Highways and Transportation Authority. These PRHTA toll revenues are not subject to clawback for payment of the Commonwealth’ s general obligation debt under the Puerto Rico..."/>
Assured Guaranty Files Motion to Lift Stay and Challenge the Commonwealth’s Executive Orders Diverting PRHTA Pledged Toll Revenues Not Subject to Clawback
Bank of New York Mellon struggled with declining revenue in the second quarter and executives promised to hold costs down for the rest of the year as the bank searches for ways to improve profitability amid low interest rates. The New York-based bank, which has 7,000 employees at its corporate office in Pittsburgh, is looking to keep expenses flat for the rest of the year amid weak global economic growth that has kept interest rates low,..."/>
BNY Mellon sees dip in 2nd quarter profit [The Pittsburgh Tribune-Review]
F.N.B. Corp. is pushing into the Carolinas with a $1.4 billion deal to buy Raleigh-based Yadkin Financial Corp.."/>
First National Bank parent buying Carolinas bank Yadkin Financial [The Pittsburgh Tribune-Review]
Bank of Santa Clarita today announced continuing significant growth in loans for the second quarter of 2016, as total loans grew to $209.5 million, a growth of 14% in the first half of 2016; moreover, the Bank noted that from June 30, 2015 to June 30, 2016, its loan portfolio had increased from $173.0 million, a growth rate of 21% from the year-earlier total. The Bank also reported second quarter net earnings of $388,000, an increase of 61% over first quarter..."/>
Bank of Santa Clarita Announces Growth in Loans, Deposits and Record Quarterly Earnings
DST Systems Inc. on Thursday reported a sharply lower second-quarter profit, citing costs from recent layoffs and lower investment sales. The $53 million profit equaled $1.58 a share. A year ago, DST Systems earned $107.5 million, or $2.91 a share, thanks in part to $100.3 million in proceeds from selling investments such as shares it owned in State Street Corp. Investment sales in the recent quarter totaled $31.8 million."/>
DST Systems earnings down on smaller investment sales [The Kansas City Star]
BancorpSouth Inc. reported its second-quarter profit dipped to $34.7 million, or 37 cents per share, compared to $39.7 million, or 41 cents per share, for the same period in 2015.. The Tupelo, Mississippi-based company said its earnings took a $4.1 million hit on the value of its its mortgage servicing rights. Lenders can sell the rights to service an existing mortgage to another firm or service the loans in-house, which saves the company money."/>
BancorpSouth's second-quarter profits slip [The Advocate, Baton Rouge, La.]
First Financial Bankshares Thursday reported another quarter of increased earnings-- 5.94 percent this time. Those earnings were tempered by oil prices and Mother Nature. Scott Dueser, chairman, president and CEO of the Abilene-based financial holding company, said he is pleased with the continued growth, and hopes things align better this quarter."/>
Oil prices, weather temper First Financial earnings growth [Abilene Reporter-News, Texas]
Spark Therapeutics is planning an expansion that could take it out of the city. While Spark, currently based in University City, has some Philadelphia sites on its radar, it's also considering locations in New Jersey and Delaware, according to brokers at real estate services firm JLL, which is aiding the company in its search. The move to expand comes as Spark-- one of the most..."/>
Expanding drug pioneer Spark mulls move from Philly birthplace [The Philadelphia Inquirer]
Hartford Financial Services Group's mutual funds unit is moving from Radnor to a larger space at the Chesterbrook Corporate Center in nearby Wayne, according to a company spokeswoman. Hartford Funds' headquarters will relocate from its 49,000- square-foot offices at 100 Matsonford Rd. to the new 76,000- square-foot space at 690 Lee Rd. in spring 2017, Jill Gordon said in an email Thursday. The move impacts 260 Hartford employees who work in the Radnor office, she said."/>
BRIEF: Hartford Funds moving HQ to Wayne [The Philadelphia Inquirer]
DNB Financial Corporation, today reported net income available to common stockholders in accordance with generally accepted accounting principles of $1.1 million, or $0.39 per diluted share, for the quarter ending June 30, 2016, compared with $1.2 million, or $0.43 per diluted share, for the same quarter, last year.. DNB Financial Corporation is the parent of DNB First, National Association, one of the first nationally-chartered community banks to..."/>
DNB Financial Corporation Reports Second Quarter 2016 Results
Yadkin Financial, which has branches in the Charlotte area. FNB Corp. said it's paying about $27.35 per share, or $1.4 billion in total, in the all-stock deal. Yadkin Bank will merge into an FNB subsidiary, First National Bank of Pennsylvania."/>
BRIEF: Pittsburgh bank buying Raleigh-based Yadkin Financial [The Charlotte Observer]
Metlife on Thursday said it's rebranding its Charlotte-based U.S. retail business as Brighthouse Financial, the latest step in the insurer's plan to split off the business. New York-based MetLife said in January that it was shedding much of its retail business to decrease its size and limit federal capital requirements. Executive Vice President Eric Steigerwalt, who will continue to be based in Charlotte, will lead the separated unit."/>
MetLife to rebrand Charlotte-based U.S. retail business as Brighthouse Financial [The Charlotte Observer]
Charles Schwab Corporation has declared a regular quarterly cash dividend of $0.07 per common share. The dividend is payable August 26, 2016 to stockholders of record as of the close of business on August 12, 2016.. In addition, the Board of Directors of The Charles Schwab Corporation declared a regular quarterly dividend on the outstanding Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series B, in the amount of $15.00 per..."/>
Schwab Declares Regular Quarterly Common Stock Dividend and Preferred Stock Dividend
Nasdaq MarketSite in Times Square. In honor of the occasion, Barbara H. Lange, SMPTE Executive Director, will ring the Closing Bell. Where: Nasdaq MarketSite– 4 Times Square– 43 rd& Broadway– Broadcast Studio."/>
The Society of Motion Picture and Television Engineers to Ring The Nasdaq Stock Market Closing Bell
Fiera Capital Corporation, a leading independent asset management firm, today reported its preliminary estimate of assets under management of $109.1 billion as at June 30, 2016.. The distribution of AUM by clientele is comprised of $53.1 billion for the Institutional sector, $23.2 billion for Private Wealth, and $32.8 billion for the Retail segment. Compared to March 31, 2016, the increase in AUM is mainly attributable to the inclusion of Apex..."/>
Fiera Capital reports June 2016 preliminary assets under management
Penns Woods Bancorp, Inc.. Penns Woods Bancorp, Inc. continued its solid earnings, supported by loan and deposit growth, achieving net income of $6,468,000 for the six months ended June 30, 2016 resulting in basic and dilutive earnings per share of $1.37. Net income from core operations, which is a non-generally accepted accounting principles measure of net income excluding net securities gains, remained flat at $3,065,000 for the three months..."/>
Penns Woods Bancorp, Inc. Reports Second Quarter 2016 Earnings
Corporate Office Properties Trust announces the formation of GI-COPT DC Partnership LLC, a 50/ 50 joint venture with an affiliate of GI Partners, a leading private investment firm. The venture acquired six of COPT’ s existing, single-tenant, data center properties that contain a total of 962,000 square feet. The unconsolidated venture raised $60 million of 10- year mortgages that bear interest at 3.4% to finance approximately 40% of the value of the properties."/>
COPT Completes Data Center Joint Venture
Douglas Emmett, Inc., a real estate investment trust, announced the acquisition of a 365,000 square foot Class "A" office property located at 12100 Wilshire Boulevard in the Brentwood submarket of Los Angeles. The property was acquired by a consolidated joint venture with Qatar Investment Authority. The acquisition price was $225 million, or $616 per square foot."/>
Douglas Emmett and QIA Acquire 365,000 Square Foot West L.A. Office Building
Employers Holdings, Inc., a Nevada-based company whose subsidiaries are specialty providers of workers’ compensation insurance focused on small businesses, will review the Company’ s second quarter 2016 financial results during a conference call and webcast on Thursday, July 28, 2016, at 8:30 a.m. PDT. The webcast will be accessible on the Employers Holdings, Inc. web site at www.employers.com through the“ Investors” link. An archived version of the webcast will..."/>
Employers Holdings, Inc. Schedules Second Quarter 2016 Earnings Release and Conference Call

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