Industry News

Dime Community Bancshares, Inc. today reported net income of $11.2 million for the second quarter of 2016, or $0.30 per diluted common share, compared with $50.0 million, or $1.36 per diluted common share, in the first quarter of 2016. Net income in the first quarter of 2016 was $12.6 million, or $0.34 per diluted common share and $11.5 million, or $0.32 per diluted common share, in the second quarter of 2015.. Highlights for the second quarter of 2016 included:."/>
Dime Community Bancshares, Inc. Reports Strong Quarterly Earnings
SEI Reports Second-Quarter 2016 Financial Results
Sun Life Financial is making digital waves as the first Canadian insurance company to partner with Plug and Play Tech Center, a U.S.-based global technology accelerator that connects top start-ups from around the world to corporations and investors. This new arrangement will help position Sun Life Financial at the helm of insurance industry innovation and closely follows a partnership struck with MaRS Discovery District, one of North America's..."/>
Sun Life Financial partners with Plug and Play Tech Centre - a first for Canadian insurers
Clarkston Financial Corporation, the holding company for Clarkston State Bank, today reported a net income of $315,000 or $0.10 per share for the three months ended June 30, 2016, compared to net income of $216,000 or$. 07 per share for the three months ended June 30, 2015. For the six months ended June 30, 2016, the corporation reported net income of $510,000 or $0.18 per share compared to net income of $467,000 or $0.15 per share for the same period in..."/>
Clarkston Financial Corporation Reports 2016 Q2 Results
Sun Life Financial is making digital waves as the first Canadian insurance company to partner with Plug and Play Tech Center, a U.S.-based global technology accelerator that connects top start-ups from around the world to corporations and investors. This new arrangement will help position Sun Life Financial at the helm of insurance industry innovation and closely follows a partnership struck with MaRS Discovery District, one of North..."/>
Sun Life Financial partners with Plug and Play Tech Centre - a first for Canadian insurers
Valley National Bancorp, the holding company for Valley National Bank, today reported net income for the second quarter of 2016 of $39.0 million, or $0.15 per diluted common share as compared to the second quarter of 2015 earnings of $32.0 million, or $0.14 per diluted common share and net income of $36.2 million, or $0.14 per diluted common share, for the first quarter of 2016.. Key financial highlights for the second quarter:."/>
Valley National Bancorp Reports a 16 Percent Increase in Second Quarter Net Income, Solid Loan Growth and Asset Quality
BOK Financial Corporation reported net income of $65.8 million or $1.00 per diluted share for the second quarter of 2016. Net income was $42.6 million or $0.64 per diluted share for the first quarter of 2016 and $79.2 million or $1.15 per diluted share for the second quarter of 2015.. Steven G. Bradshaw, president and chief executive officer, stated,“ It was a solid quarter for the company, with very strong loan growth and record fee and commission revenue led by..."/>
BOK Financial Reports Quarterly Earnings of $66 Million
Dynex Capital, Inc. reported its second quarter 2016 results today. As previously announced, the Company's quarterly conference call to discuss these results is today at 10:00 a.m. Eastern Time and may be accessed at 1-888-339-0823 or by live webcast which includes a slide presentation, the link for which is provided under“ Investor Center” on the Company's website. Comprehensive income of $0.35 per common share comprised of net loss to common shareholders of$..."/>
Dynex Capital, Inc. Reports Second Quarter 2016 Results
PHI Group, a U.S. public company currently engaged in conventional energy, renewables and natural resources, announced today that the Company has received approval from the board of directors of an undisclosed South African target company in connection with the Company’ s tender offer to acquire 100% of TARGET’ S issued and outstanding stock for cash. The TARGET has been in business over several decades and is a leading company in the natural resource and..."/>
PHI Group Receives Approval of Tender Offer to Acquire Target Company in South Africa
FirstService Corporation today reported strong results for its second quarter ended June 30, 2016. All amounts are in US dollars. Revenues for the second quarter were $385.1 million, an 18% increase relative to the same quarter in the prior year, Adjusted EBITDA increased 25% to $40.2 million, and Adjusted EPS was $0.52, a 30% increase versus the prior year quarter."/>
FirstService Reports Strong Second Quarter Results
Stock Yards Bancorp, Inc., parent company of Stock Yards Bank& Trust Company, with offices in the Louisville, Indianapolis and Cincinnati metropolitan markets, today reported results for the second quarter ended June 30, 2016, with net income increasing 12% to $10.1 million or $0.45 per diluted share from $9.0 million or $0.40 per diluted share for the second quarter of 2015. Net income for the six..."/>
Stock Yards Bancorp Second Quarter 2016 Net Income Rises 12% to a Record $10.1 Million
Northwest Bancshares, Inc. has reported a net loss for the quarter ended June 30, 2016 of USD7.0 million, or USD0.07 per diluted share, representing a decrease of USD22.3 million compared to the same quarter last year when net income was USD15.3 million or USD0.17 per diluted share, the company said. The annualized returns on average shareholders' equity and average assets for the quarter ended June 30, 2016 were percent and percent compared to 5.77 percent and 0.78 percent for..."/>
Northwest Bancshares reports Q2 2016 USD7m net loss
Severn Bancorp, Inc., parent company of Severn Bank has appointed Paul B. Susie as executive vice president and chief financial officer, the company said. Susie brings to Severn Bank previously served with Hopkins Federal Savings Bank in the position of chief financial officer. Severn Bank, Inc. is a full-service community bank offering personal and commercial banking products as well as residential and commercial mortgage lending."/>
Severn Bank appoints chief financial officer
First Republic Bank has initiated a public offering of its subordinated notes, the company said. The bank said it expects to use the net proceeds from the offering for general corporate purposes, which may include, among other things, funding loans or purchasing investment securities for its portfolio. First Republic may also use the net proceeds of the offering, together with cash on hand, to redeem its 6.70 percent noncumulative perpetual Series A preferred stock."/>
First Republic initiates subordinated notes offering
First South Bancorp, Inc., has purchased mortgage servicing rights of 452 high-quality Freddie Mac and Fannie Mae loans with an unpaid principal balance of approximately USD84.6 million, the company said. The purchase brings the bank's total value of MSRs to approximately USD2.8 million and brings the total balance of mortgage loans serviced for others to approximately USD376.9 million. All of these loans are in the state of..."/>
First South Bank purchases of mortgage servicing rights portfolio
Merchants Bancshares, Inc. has declared a dividend of USD0.28 per share, the company said. The dividend is payable August 18, 2016, to stockholders of record as of August 4, 2016. Based on the closing price of USD30.48 per share on June 30, 2016 and the annual dividend payout of USD1.12 per share, the dividend represents annualized yield of 3.67 percent."/>
Merchants Bancshares declares dividend
Sierra Bancorp, parent of Bank of the Sierra, has reported consolidated net income of USD4.086 million for the second quarter of 2016, which represents a slight increase relative to net income for the first quarter of 2016 but a drop of 10 percent relative to net income in the second quarter of 2015, the company said. The bank said the decline from net income in the prior year was due in large part to higher non-interest expense, including USD128, 000 in non-recurring acquisition..."/>
Sierra Bancorp reports Q2 2016 consolidated net income of USD4m
AmeriServ Financial, Inc. has declared a USD0.015 per share quarterly common stock cash dividend, the company said. This new quarterly dividend amount represents a 50 percent increase from the previous USD0.01 per share quarterly dividend. The cash dividend is payable August 22, 2016 to shareholders of record on August 8, 2016.."/>
AmeriServ Financial increases quarterly cash dividend
BNY Mellon initiates public offering
MutualFirst Financial, Inc., has reported net income available to common shareholders for the second quarter ended June 30, 2016 increased to USD4.2 million, compared to net income available to common shareholders for the same period in 2015 of USD3.2 million, the company said. Annualized return on average assets was 1.10 percent and return on average tangible common equity was 12.01 percent for the second quarter of 2016 compared to 0.90 percent and 10.04 percent,..."/>
MutualFirst reports Q2 2016 net income of USD4m
Magyar Bancorp has reported net income of UD252, 000 for the three months ended June 30, 2016, compared to net income of USD245, 000 for the three months ended June 30, 2015, the company said. Net income for the nine months ended June 30, 2016 was USD740, 000 compared to net income of USD574, 000 for the nine months ended June 30, 2015.. The net income per share was USD0.04 for the three months ended June 30, 2016 and 2015."/>
Magyar Bancorp reports Q3 2016 net income of USD252,000

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