Industry News

Horizon Bancorp has an agreement to acquire CNB Bancorp, the parent company of The Central National Bank and Trust Co. in Attica in a deal valued at $11 million. Horizon, which has $2.6 billion in assets and 50 branches, has been buying up smaller community banks in Indiana and Michigan such as the LaPorte Savings Bank over the last few years, as the bank..."/>
Horizon continues bank buying spree [The Times, Munster, Ind.]
First Republic Bank on Thursday disclosed for the second quarter ended 30 June 2016, a net income of USD165.0m or USD0.97 diluted earnings per share, up 25.6% from the net income of USD131.3m or USD0.80 EPS in the same quarter of 2015.. The bank's second quarter net interest income was USD441.6m, an increase of 17.7% from the net interest income of USD375.1m in 2015. This was mainly resulting from growth in average earning assets."/>
First Republic reports 25.6% higher net income in Q2 2016 compared to Q2 2015
Argo Group International Holdings Ltd on Friday disclosed its preliminary pre-tax loss estimates of USD23m net of reinsurance and reinstatement premiums, from catastrophes in the quarterly period ended 30 June 2016.. The company mentioned that the quarterly catastrophe losses are mainly related to the Canadian wildfires and weather related events in the US. Its estimate is based on claims received till date; policy level reviews; data and discussions with distribution..."/>
Argo Group announces preliminary loss estimates of USD23m from catastrophes for quarter ended June 2016
Bank of Montreal today introduced a new service that allows customers to open an account in minutes using their smartphone, without having to go to a branch or download an app. "Mobile is increasingly important for customers to address their banking needs, and this service is another way we're using our digital capabilities to empower our customers and simplify their lives," said Niti Badarinath, Head of North American Channels, BMO Bank of Montreal. ""/>
BMO Introduces New Way for Canadians to Open Bank Accounts in Minutes Using their Smartphones
Signature Bank, a New York-based full-service commercial bank, announced today that management will host a conference call to review results of its 2016 second quarter ended June 30, 2016 on Wednesday, July 20, 2016 at 10:00 AM ET. Signature Bank’ s financial results for the 2016 second quarter will be released prior to market open on Wednesday, July 20, 2016.. President and Chief Executive Officer Joseph J. DePaolo and Executive Vice President- Corporate and Business..."/>
Signature Bank to Host 2016 Second Quarter Results Conference Call
Gap Inc. will add more than 100 jobs at the company's distribution center in Gallatin, Tenn. Gap Inc. said Thursday it is investing $3.1 million in technology and other upgrades over the next five years to expand its online fulfillment services provided at its Gallatin campus."/>
Business Briefs: Gap adds jobs in Tennessee [Chattanooga Times Free Press, Tenn.]
Allstate Corporation on Thursday released a quarterly cash dividend of USD0.33 per share on each outstanding common stock. The shareholders of record at the close of business on 31 August 2016 will receive the dividend payment on 3 October 2016.. Together with its subsidiaries, Allstate engages in property-liability insurance and life insurance business in the US and Canada."/>
Allstate declares dividend of USD0.33 per share for quarter
American Capital Agency Corp approved a July 2016 cash dividend of USD0.20 per share on the company's common stock, it revealed on Thursday. With an ex-dividend date of 27 July 2016, the dividend will be paid on 8 August 2016 to stockholders of record as of 29 July 2016. Also, the company said that its net book value per common share for 30 June 2016 will be released concurrently with its second quarter earnings release on 27 July 2016.."/>
American Capital Agency announces dividend of USD0.20 per share for July 2016
Local business briefs [Herald-Times, Bloomington, Ind.]
DCB Bank Ltd shares have gained 25.8% in the past three months, handsomely outperforming the Nifty Private Bank index's 16.1% gain. The reason, according to some analysts, is the comfort investors took after the management tweaked its expansion strategy aimed at containing its cost-to-income ratio, despite an aggressive branch expansion plan. But its first quarter results have seen higher cost-to-income ratio and deterioration in asset quality."/>
Costs, bad loans rise at DCB Bank [Mint, New Delhi]
Piramal Enterprises Ltd's healthcare business. The real estate investment business under Piramal Fund Management Pvt. Ltd and the mezzanine funding unit, known as Structured Investment Group, have been merged under the former."/>
Piramal restructures its financial services business [Mint, New Delhi]
Rates could rise for long-term care insurance [Sun Sentinel]
Diamond Resorts International, Inc., Apollo said. On 29 June Diamond Resorts entered into an agreement and plan of merger with affiliates of certain funds managed by affiliates of Apollo Global Management under which the Apollo Funds will acquire Diamond..."/>
Apollo Funds Launch Tender Offer for Diamond Resorts Shares
Re/Max of Boulder, analyzing home sales in Boulder County for the first half of 2016.."/>
Cost of average home in Boulder surpasses $1M [Daily Camera, Boulder, Colo.]

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