Industry News

RLI Corp.-- RLI Corp. reported second quarter 2016 operating earnings of $27.3 million, compared to $34.1 million for the second quarter of 2015. For the six months ended June 30, 2016, operating earnings were $51.3 million compared to $56.0 million for the same period in 2015.. Highlights for the quarter included:."/>
RLI Reports Second Quarter 2016 Results
MGIC Investment Corp. in its second-quarter earnings report."/>
MGIC Business, Delinquency and Earnings Improve [Mortgage Daily]
Federal Home Loan Mortgage Corp. loans that were refinanced was as high as it was in May. There were 173,217 residential loans backed or owned by Fannie Mae and Freddie Mac that were refinanced during all of May 2016.. Refinances of government-sponsored enterprise loans were the highest they've been since July 2015, when 198,080 loans were refinanced."/>
Freddie Drives GSE Refis to 10-Month High [Mortgage Daily]
Greater Hudson Bank, the Hudson Valley's preeminent private bank for businesses, non-profits and municipalities has raised $9,195,000 in new capital. The capital was sourced in a private placement offering in which the Bank sold an additional 2,298,750 shares at $4.00 per share on June 21 st. "We are extremely pleased with the outcome of the raise," said Greater Hudson Bank President& CEO, Edward T. Lutz, who explained that the money raised came from Board..."/>
Greater Hudson Bank Capital Offering Oversubscribed
Teva Pharmaceutical Industries Ltd. announced today that, last night, it completed the pricing of a $15 billion bond offering, intended to help it to finance the acquisition of the generics division of Allergan plc. Reuters reported yesterday that the offering had attracted demand of $70 billion. Teva's debt offering, via by its special purpose finance subsidiary Teva Pharmaceutical Finance Netherlands III B.V., consists of the following tranches:."/>
Teva raises $15b debt [Globes, Tel Aviv, Israel]
Cellcom Israel Ltd. share is the best Israeli communications share for investment, according to Barclays Investment Bank, which has begun coverage of the Bezeq Israeli Telecommunication Co. Ltd., Cellcom, and Partner Communications Ltd. shares. Barclays rates Cellcom "Market outperform," Bezeq "Market perform," and Partner "Market underperform." Barclay's target price for Cellcom is NIS 32, 17% higher than the current share price, while its target prices for Bezeq and..."/>
Barclays: Golan exit would raise telco revenue [Globes, Tel Aviv, Israel]
Clal Insurance Enterprises Holdings Ltd. has been holding advanced talks to buy the entire stake of Delek Group Ltd. in the power plant near Ashkelon's desalination facility, for NIS 200 million. Delek, controlled by Yitzhak Tshuva and managed by CEO Asaf Bartfeld, announced that negotiations have indeed been underway. According to Delek's announcement, the talks are in an "advanced" stage and "if and as far as an obligatory agreement is signed,..."/>
Clal Insurance in talks to buy Delek power station [Globes, Tel Aviv, Israel]
National Bank of Canada and Tennis Canada are pleased to announce the renewal of their partnership for a six-year term. As the only financial institution in Canada with a commitment to the sport of tennis, National Bank is pledging its support through until 2022 via a number of initiatives aimed specifically at fostering development of the next generation of players in both the professional and amateur ranks, while continuing to help bring the..."/>
National Bank and Tennis Canada renew partnership to develop emerging generation of Canadian tennis players
New Mountain Finance Corporation announced today that John Kline has been promoted to President in addition to maintaining his role as Chief Operating Officer of New Mountain Finance Corporation. Robert Hamwee, who previously held the title of President and Chief Executive Officer, will continue in his capacity as CEO of NMFC."/>
New Mountain Finance Corporation Announces Management Promotion
Pure Multi-Family REIT LP announced today that the Board of Directors of Pure Multi-Family REIT Inc., the governing general partner of Pure Multi, has approved a cash distribution of US $0.03125 per unit for the month of July 2016. The distribution will be paid on August 15, 2016 to unitholders of record at the close of business on July 29, 2016.. The policy of Pure Multi is to pay cash distributions on or about the 15 th day of each month to the unitholders of..."/>
Pure Multi-Family REIT LP Announces July Distribution and Timing of Release of Q2 2016 Financial Results and Conference Call
Sun Life Financial Inc. including its senior and subordinated notes, as well as the Insurer Financial Strength ratings of SLF's primary Canadian insurance subsidiary, Sun Life Assurance Co. of Canada, at' AA-'. A full list of ratings follows at the end of this release. The Rating Outlook is Stable."/>
Fitch Affirms Sun Life Financial Inc.'s Ratings; Outlook Stable
Bar Harbor Bankshares, today announced that its Board of Directors declared at its July 19, 2016 meeting, a quarterly cash dividend of 27.5 cents per share of common stock, representing an increase of 0.5 cents, or 1.9%, compared with the prior quarter and an increase of 2.0 cents or 7.8% compared with the third quarter of 2015. The quarterly cash dividend is payable to all shareholders of record as of the close of business August 15, 2016 and will be paid on September..."/>
Bar Harbor Bankshares Increases Quarterly Cash Dividend
Pinnacle Bancshares, Inc., today announced Pinnacle’ s second quarter results of operations. For the three months ended June 30, 2016, Pinnacle reported net income of $556,000 compared to $617,000 for the three months ended June 30, 2015. For the six months ended June 30, 2016, Pinnacle reported net income of $1,194,000 compared to $1,154,000 for the six months ended June 30, 2015. Net interest income..."/>
Pinnacle Bancshares Announces Results for Second Quarter Ended June 30, 2016
CIT Group Inc., a leading provider of commercial lending and leasing services, today announced that its Board of Directors has declared a quarterly cash dividend of $0.15 per common share on its outstanding common stock. The common stock dividend is payable on August 26, 2016 to common shareholders of record as of August 12, 2016.. Founded in 1908, CIT is a financial holding company with more than $65 billion in assets."/>
CIT Declares Quarterly Dividend
Regency Centers Corp. has acquired Klahanie Shopping Center in the Puget Sound area of the US Pacific Northwest for a gross purchase price of USD 36 m, the company said. Anchored by a 40,000 square foot retailer-owned Quality Food Centers, the centre includes an additional 67,000 square feet of space leased to a mix of national and regional retailers. With this acquisition, Regency now owns 11 properties in the..."/>
Regency Centers Acquires Klahanie Shopping Center in Puget Sound Area for USD 36m
Preferred Apartment Communities, Inc. has acquired Georgia-based shopping center Lakeland Plaza, an approximately 301,711 square foot shopping centre anchored by a 29,855 square foot Sprouts grocery store and an 86,479 square foot Belk department store, the company said. Lakeland Plaza is located in Forsyth County, Georgia. PAC acquired this asset through its wholly owned subsidiary New Market Properties,..."/>
Preferred Apartment Communities Acquires Georgia, US Shopping Centre
Sovran Self Storage, Inc. has completed its acquisition of California-based self storage operator LifeStorage, LP for USD 1.3 bn, the company said. The purchase was funded primarily with the proceeds of a 6.9 m share common stock offering the company completed in May 2016, and a June 2016 sale of USD 600 m of 10- year notes with an interest rate of 3.5%. This newly acquired facilities will add 25 facilities in Chicago, 19..."/>
Sovran Self Storage Acquires California Self-Storage Operator LifeStorage for USD 1.3bn
Moody's Corp. has acquired full ownership of Korea-based domestic credit ratings provider Korea Investors Service, the company said. The terms of the deal were not disclosed. It is not expected to have a significant impact on Moody's earnings per share for 2016 and will be funded from international cash on hand."/>
Moody’s Acquires Full Ownership of Korea Investors Service
LCNB Corp. today announced net income of $2,968,000 and $5,932,000 for the three and six months ended June 30, 2016, respectively. This compares to net income of $3,123,000 and $5,957,000 for the same three and six-month periods in 2015. Results for 2016 were significantly affected by the acquisition of BNB Bancorp, Inc. on April 30, 2015."/>
LCNB Corp. Reports Financial Results for the Three and Six Months Ended June 30, 2016

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