Industry News

DNP Select Income Fund Inc., a closed-end fund advised by Duff& Phelps Investment Management Co., today announced the successful issuance of $300 million of Senior Notes. The fund will use the entire proceeds from the Senior Note issuance to repay $300 million of the $700 million principal outstanding under its committed lending facility. The Senior Notes have been privately placed with institutional investors and..."/>
DNP Select Income Fund Announces Issuance of Senior Notes and Partial Repayment of Committed Lending Facility
Howard Bancorp Inc. reported Friday that it earned $1.5 million in the second quarter, more than double its earnings in the April-to-June period last year, when it earned $706,000.. Per share earnings rose 41 percent, to 22 cents this year, up from 16 cents during the same period last year. The Ellicott City-based parent of Howard Bank reported $989 million in assets as of the end of June, up 32 percent the same quarter last year, when the bank had $747 million in assets."/>
BRIEF: Howard Bancorp reports $1.5 million profit in second quarter [The Baltimore Sun]
Syncora Holdings Ltd. today announced that its wholly owned, New York financial guarantee insurance subsidiary, Syncora Guarantee Inc., has reached an agreement in principle for the settlement of its sole existing claim and related litigation with Lehman Brothers Holdings Inc. and Structured Asset Securities Corporation. If consummated, the terms of the settlement will resolve all claims in respect of SGI's proof of claim filed..."/>
Syncora Guarantee Inc. Settles Proof of Claim with Lehman Brothers
Willis Towers Watson, a leading global advisory, broking and solutions company, announced that its Board of Directors approved a regular quarterly cash dividend of $0.48 per common share for the quarter ended June 30, 2016. The dividend is payable on or about October 17, 2016 to shareholders of record at the close of business on September 30, 2016.. Willis Towers Watson is a leading global advisory, broking and solutions company that helps..."/>
Willis Towers Watson Announces Regular Quarterly Dividend
Emclaire Financial Corp, the parent holding company of The Farmers National Bank of Emlenton, reported an increase in consolidated net income available to common stockholders of $28,000, or 3.1%, to $930,000, or $0.43 per common share, for the three months ended June 30, 2016, compared to $902,000, or $0.48 per common share, for the same period in 2015. Net income available to common shareholders for the six-month period ended June 30, 2016 was $1.7..."/>
Emclaire Financial Corp Reports 3.1% Increase in Quarterly Earnings
New Resource Bank has announced unaudited financial results for the second quarter ended June 30, 2016.. New Resource Bank reported strong growth over the second quarter. The bank is ahead of its quarterly loan goals with gross loans totaling $228 million— a 27 percent increase over June 30, 2015."/>
New Resource Bank Reports Second Quarter 2016 Financial Results
Donegal Group Inc. reported that its board of directors declared a regular quarterly cash dividend of$. 1375 per share of the Company’ s Class A common stock and$. 12 per share of the Company’ s Class B common stock. The dividends are payable on August 15, 2016 to stockholders of record as of the close of business on August 1, 2016.. Donegal Group Inc. is an insurance holding company whose insurance subsidiaries offer personal and commercial property and..."/>
Donegal Group Inc. Announces Quarterly Dividend
Heritage Oaks Bancorp, a bank holding company and the parent of Heritage Oaks Bank, announced today that it has amended its stock repurchase program to, among other things, extend the program beyond its originally disclosed expiration date. Under the amended plan, which is a written plan designed to be compliant with Rule 10 b5-1 and Rule 10 b-18, the Company may repurchase up to $5,000,000 of its outstanding common stock. Repurchase program activity..."/>
Heritage Oaks Bancorp Announces Amendment to Share Repurchase Program
Intercontinental Exchange, today announced receipt of Securities and Exchange Commission approval to streamline the listing process for certain actively managed ETFs. Since 2000, NYSE has worked collaboratively with the industry and the SEC to simplify the listing process for issuers. Effective immediately, many actively managed funds will be able to list new ETF products without a separate filing with the SEC under SEC Rule 19..."/>
NYSE Successfully Petitions for a Simplified Listing Process for Actively Managed Exchange Traded Funds (ETFs)
Exchange Bank announced results for the second quarter of 2016 with a profit after tax of $5.46 million, compared to $5.63 million in the second quarter of 2015. This represents a decrease of $173 thousand or a 3% decline compared to the same period a year ago. "The decline in earnings for the second quarter does not tell the true story of strength in core earnings."/>
Exchange Bank Announces Second Quarter Earnings
Jernigan Capital, Inc. today announced that it has executed term sheets with two commercial banks for the sale of senior participations/A notes on 5 of the Company’ s self-storage development investments. The development projects involved include newly constructed and opened self-storage facilities in the Atlanta, Orlando and Tampa metropolitan statistical areas and a new..."/>
Jernigan Capital Arranges A Note Sales
California Bank of Commerce a San Francisco Bay Area business bank, today reported unaudited financial results for the second quarter of 2016 with net income of $1.1 million, increasing 34% over second quarter 2015. Total assets were $725 million on June 30, 2016 compared to $637 million on March 31, 2016 and $473 million on June 30, 2015.. “Our strong second quarter performance is a testament to our ability to integrate a merger and expand into new markets,..."/>
California Bank of Commerce Reports Second Quarter 2016 Earnings
SunTrust Banks Inc.' s quarterly production picked up speed. It also saw its servicing and investment portfolios grow. From April 1 through the end of last month, SunTrust closed $7.283 billion in residential home loans-- a nearly one-half increase from the $4.952 billion originated in the first quarter."/>
SunTrust Home Loan Activity Flourishes [Mortgage Daily]
Northwest Bancorporation, Inc., the holding company of Inland Northwest Bank, today reported financial results for the quarter ended June 30, 2016.. Net income for the second quarter of 2016 was $1.27 million, compared to $839 thousand for the previous quarter and $902 thousand for the second quarter of 2015. Earnings per diluted share increased 53.8%, from $0.13 for the first quarter of 2016, to $0.20 for the second quarter of 2016, but are down $0.01..."/>
Northwest Bancorporation, Inc. Reports Second Quarter 2016 Financial Results
Peoples Financial Services Corp., the bank holding company for Peoples Security Bank and Trust Company, today reported unaudited financial results at and for the three and six months ended June 30, 2016. Peoples reported net income of $4.9 million, or $0.66 per share for the second quarter of 2016, compared to $4.4 million, or $0.59 per share, for the comparable period of 2015.. Core net income, excluding net gains on sale of investment..."/>
Peoples Financial Services Corp. Reports Second Quarter 2016 Earnings
Chicopee Bancorp, Inc., the holding company for Chicopee Savings Bank, announced the unaudited results of operations for the three and six months ended June 30, 2016.. The Company also announced on July 22, 2016, that its Board of Directors declared a quarterly cash dividend of $0.09 per share. Stockholders of record on August 5, 2016 will receive the cash dividend on or about August 19, 2016.."/>
Chicopee Bancorp, Inc. Reports Second Quarter Results and Announces Quarterly Cash Dividend of $0.09 per Share
Fortress Investment Group LLC. Zhonghong is principally engaged in the development and operation of tourism-related properties and commercial real estate. Abercrombie& Kent will retain its..."/>
Luxury Travel Leader Abercrombie & Kent to Continue Innovation With New Investor
Lennar Corp., is offering the money for options, upgrades or closing costs to buyers who commit during the model grand opening weekend. Summit Reserve has 73 single-family homes priced from the $300,000 s."/>
Real Estate Notebook: $5,000 incentive for homebuyers in Greenacres [Sun Sentinel]
Waterstone Financial, Inc., holding company for WaterStone Bank, reported net income per diluted share of $0.29 for the quarter ended June 30, 2016, which represents a 70.6% increase compared to net income per diluted share of $0.17 for the quarter ended June 30, 2015 and a 107.1% increase compared to net income per diluted share of $0.14 for the quarter ended March 31, 2016. Net income per diluted share was $0.43 for the six months ended June..."/>
Waterstone Financial Announces Results of Operations for Quarter and Six Months Ended June 30, 2016

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