Industry News

Stock Yards Bancorp, Inc., parent company of Stock Yards Bank& Trust Company, with offices in the Louisville, Indianapolis and Cincinnati metropolitan markets, today announced that its Board of Directors has declared a quarterly cash dividend of $0.18 per common share. The dividend, which continues the higher rate set by the Board in May 2016, will be paid on October 3, 2016, to stockholders of record as of September 12, 2016.. Louisville, Kentucky-based Stock..."/>
Stock Yards Bancorp Declares Quarterly Cash Dividend of $0.18 Per Share
First Republic Bank has appointed two additional community lending officers serving the credit needs of traditionally underserved borrowers and communities, the company said. The company named Charlene Van Horn, an attorney who has managed First Republic's compliance monitoring function and previously worked for the San Francisco Federal Reserve, as a banking officer. Michele Cazeau, who has 15 years of banking experience, was named community outreach relationship..."/>
First Republic expands community lending program
Sterling Bancorp, the company said. Freedom Mortgage officially transitioned the residential business and its team of approximately 70 professionals to its banner on August 12, 2016. Freedom will handle new mortgage requests from Sterling National Bank customers through the newly acquired team, as well..."/>
Freedom Mortgage finalizes acquisition of Sterling National Bank mortgage operations
Morningstar, Inc. has reported an estimated USD21.7 billion in asset flows in June, with USD32.9 billion exiting in July from US mutual fund and exchange-traded funds, the company said. The company said all passive category groups saw inflows during the month, led by USD33.8 billion in inflows to passive US equity funds. Active and passive funds in the taxable bond category group led the way in terms of inflows, garnering USD34.0 billion in July."/>
Morningstar reports US mutual fund, ETF asset flows for July 2016
Federated Investors, Inc. has reported monthly fund composition and performance data for Federated Premier Municipal Income Fund and Federated Premier Intermediate Municipal Income Fund as of July 31, 2016, the company said. The company said data is available in the products section of its website Federated Investors, Inc. is a large investment manager in the United States, managing USD367.2 billion in assets as of June 30, 2016."/>
Federated Investors' closed-end funds report month-end portfolio data
Hercules Capital, Inc., the leading specialty financing provider to innovative venture growth, pre-IPO and M&A stage companies in a broad variety of technology, life sciences and sustainable and renewable technology industries, today announced that Standard& Poor’ s Ratings Services has reaffirmed Hercules’ investment grade corporate rating of BBB-. “We are very pleased that Standard& Poor’ s has once again reaffirmed our BBB- investment grade corporate..."/>
Hercules Receives a Reaffirmed Investment Grade Corporate Rating From Standard & Poor’s
Banpu to ramp up power capacity [Bangkok Post, Thailand]
UDR Inc has priced an offering of USD300m of 2.95% senior unsecured notes, which will settle on 23 August 2016, the company disclosed on Wednesday. Also, these notes were priced at 100% of the principal amount plus accrued interest from 23 August 2016, are fully and unconditionally guaranteed by United Dominion Realty LP and will mature on 1 September 2026. Interest will be paid half yearly on the 1st of March and September, with the first interest payment due 1 March 2017.."/>
UDR prices offering of USD300m of senior notes due 2026
E*TRADE prices offering of USD400m preferred stock
M&T Bank Corporation announced on Tuesday that it will pay a common stock cash dividend of USD0.70 per share for the third quarter of 2016.. This dividend will be paid on 30 September 2016 to shareholders of record at the close of business on 1 September 2016.. A financial holding company, M&T's principal banking subsidiary is M&T Bank that operates banking offices in New York, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, West Virginia and the District of..."/>
M&T Bank declares dividend of USD0.70 per share for Q3 2016
Banc of California Inc approved a common stock cash dividend of USD0.12 per share for the quarter, on the company's outstanding stock, it disclosed on Tuesday. Stockholders of record as of 15 September 2016 will receive the dividend payment on 3 October 2016. Also, the company said that based on the trading price of USD23.06 as of close of market on 15 August 2016, this dividend results in an annual yield of 2.08%."/>
Banc of California declares common and preferred stock dividends for quarter
Bank of America, which was sued by an Arab-American charity in Southfield that had accused it of discriminating against them when it closed the charity's bank accounts. In 2012, Life for Relief and Development in Southfield filed a lawsuit in Detroit against Bank of America after it had closed its accounts. Bank of America officials have said their decision was not because of the Arab ethnicity of Life's leaders."/>
Jury sides with bank in lawsuit by Arab-American charity in Southfield [Detroit Free Press]
Strategic Internet Investments, Inc. moved towards the final steps in its planned acquisition of the SkyTower Hotel by issuing $63 million in debentures to the owner of the hotel and to several strategic investors. SIII continues to rapidly expand its portfolio of real estate properties following its acquisition of AkCenter Shopping Center last month. For the SkyTower acquisition, SIII has issued debentures equal to the $63 million appraised..."/>
SIII Moves Towards Final Steps in SkyTower Hotel Acquisition
China Everbright Limited, was established and completed its first closing in the second quarter of 2016 with a total capital commitment of approximately US $264 million. CEL Global Investment GP Limited and CEL Global Management Company Limited, each an indirect wholly owned subsidiary of CEL, serve as the general partner and the investment manager of the Fund, respectively. The..."/>
CEL Global Investment Fund Completes Its First Closing
Commercial National Financial Corporation on Tuesday announced a dividend of USD0.26 per share for the third quarter of 2016.. All shareholders of record as of 26 August 2016 will be paid on 2 September 2016.. Commercial National operates as a bank holding company for Commercial Bank& Trust of PA that provides various banking services in Pennsylvania."/>
Commercial National announces dividend of USD0.26 per share for Q3 2016
Infosys Ltd said last Monday that it will carry out a ramp-down of a project with The Royal Bank of Scotland subsidiary, Williams and Glyn. The project involved 3,000 of its staff, most of whom were based offshore. This means it could have contributed about $80-90 million in annual revenues, according to an analyst at a multi-national brokerage."/>
Will Infosys miss its revised revenue guidance? [Mint, New Delhi]
State Bank of India is buying into their bond issuances. In the April-June quarter, SBI moved Rs.25, 000 crore worth of exposure to high-rated corporates from its loan book to its investment book. "A bond issuance is always a cheaper source of funding than a loan for a company."/>
SBI picks up bonds to retain high-rated corporate customers [Mint, New Delhi]

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