Industry News

Orient Paper and Industries Ltd decided to demerge its electrical appliances division to unlock shareholder value, a top official said. Last week, the CK Birla group company said it will separate its paper and appliance businesses and raise Rs50 crore through a rights issue to repay loans. "The earlier conglomerate model of running multiple businesses under one company does not get you fair valuation," said managing director Manohar Lal Pachisia said in an..."/>
Orient Paper to demerge electrical appliances division [Mint, New Delhi]
Punjab National Bank, the lead lender in the ABG..."/>
Lenders finalizing debt restructuring package for ABG Cement [Mint, New Delhi]
First National Bank Alaska Senior Vice President and Chief Financial Officer Michelle Schuh. "Now I think people are just being cautious." Schuh clarified that the second quarter of 2016 was steady for her bank, and likely for the rest of the state, but the lack of legislative solutions to the state's $4 billion budget deficit is starting to affect the business community's outlook, if not the numbers."/>
Alaska's bankers keeping their eyes on an uncertain future [Alaska Journal of Commerce, Anchorage]
Bank of America and other downtown business leaders to announce a $25,000 pre-development grant for the project."/>
BRIEF: Fresno Public Market project to get $25,000 grant [The Fresno Bee]
CVB Financial Corp. announced a twelve cent per share cash dividend with respect to the third quarter of 2016. The dividend was approved at the regularly scheduled Board of Directors meeting held on September 21, 2016. The dividend will be payable on or about October 20, 2016 to shareholders of record as of October 5, 2016.."/>
CVB Financial Corp. Announces 108th Consecutive Cash Dividend
China Fortune Financial Group Limited and Pacific Alliance Limited entered into the Subscription Agreement, and the Subscriber conditionally agreed to subscribe for, the convertible bonds with an aggregate principal amount of HK $390,000,000 due three years from the date of issue of the convertible bonds at the conversion price of HK $0.06 per conversion share. Upon full conversion of the convertible bonds at the conversion..."/>
China Fortune Financial Group Limited (Stock Code: 0290.HK) Issued Convertible Bonds
S&P Global Ratings said. "We think this slowdown will persist in 2017, with growth stabilising at around five per cent," the ratings agency said in a report. "Lower oil prices mean lower liquidity, as deposits from governments and their related entities account for between 20 per cent and 40 per cent of the deposit base of GCC..."/>
GCC banks set to record 6% credit growth in 2016 [Khaleej Times, Dubai, United Arab Emirates]
Syncora Holdings Ltd., a Bermuda holding company whose subsidiaries primarily provide financial guarantee insurance and reinsurance, today reported results for the six months ended June 30, 2016.. Net premiums earned were $26.5 million for the six months ended June 30, 2016, as compared to $29.0 million for the six months ended June 30, 2015. The decline resulted primarily from the orderly run-off of the insured portfolio."/>
Syncora Holdings Ltd. Announces Second Quarter 2016 Interim GAAP Consolidated Financial Results
Farmers Capital Bank Corporation announced a series of balance sheet restructuring transactions that are expected to improve its overall financial position including an increase in net interest margin, return on average assets, and return on average equity. The transactions include prepaying $100 million of high fixed-rate borrowings with contractual maturities in November 2017 and to reposition the investment securities portfolio to..."/>
Farmers Capital Bank Corporation Announces Balance Sheet Restructuring Transactions
BRIEF: St. Martin apartments sold for $13.9M [The Sun Herald]
Investar Holding Corporation, the holding company of Investar Bank, declared a quarterly cash dividend of $0.011 per share to holders of Investar Holding Corporation common stock. The dividend is payable on October 31, 2016 to shareholders of record as of October 5, 2016. This represents a 10% increase in the dividend per share compared to the prior quarter and is the 12th quarterly dividend paid by Investar Holding Corporation, which follows an..."/>
Investar Holding Corporation Declares Cash Dividend
Navient, the nation’ s largest student loan servicer, has issued the following statement in support of the Stop Taxing Death and Disability Act:. We applaud bipartisan efforts in the House Ways and Means Committee to advance H.R. 5204. This legislation would eliminate the negative tax consequences faced by student loan borrowers or their loved ones when loans are forgiven due to death or disability."/>
Navient issues statement supporting legislation that would end tax penalties on student loans forgiven due to death or disability
Fairholme Fund, which filed suit in the Federal Court of Claims in 2013."/>
BRIEF: Miami investors win access to secret documents in Fannie Mae fight [The Miami Herald]
Trade Desk, Inc., a cloud-based technology company that empowers buyers of advertising, visited the Nasdaq MarketSite in Times Square today in celebration of its initial public offering on The Nasdaq Stock Market.. A photo accompanying this announcement is available at The Trade Desk offers a self-service platform that allows media planners and..."/>
Nasdaq Welcomes The Trade Desk, Inc. (Nasdaq: TTD) to The Nasdaq Stock Market
Ottawa Savings Bancorp, Inc., the parent company for Ottawa Savings Bank, announced today that the subscription and community offering of the common stock of Ottawa Bancorp, Inc., the proposed new holding company for the Bank, concluded on September 12, 2016 and was oversubscribed by the community. The offering was undertaken in connection with the conversion of Ottawa Savings Bancorp MHC from the mutual holding company to the stock holding company form of..."/>
Ottawa Savings Bancorp, Inc. Announces Preliminary Offering Results

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