Industry News

Bank of America is suing the brothers alleging it's still owed $24 million from a 2012 consent judgment. The Roberts brothers, both former St. Louis aldermen and developers, defaulted on loans taken out to renovate six hotels they formerly owned in Atlanta; Dallas; Houston; Tampa, Fla.; Spartanburg, S.C.; and Shreveport, La."/>
Bank alleges Roberts brothers still owe $24 million from bad hotel loans [St. Louis Post-Dispatch]
Macy's stores in the Sarasota and Bradenton counties may not be at strong risk for closing as part of the retailer's plans to close about 14 percent of its stores, according to a report. The report from Morningstar Credit Ratings, which follows an announcement last week that Macy's intends to close 100 stores, identifies 28 locations with a higher probability of closing, based on below-average tenant sales. The chain has 728 stores."/>
Southwest Florida not listed as high risk for Macy's closures [Sarasota Herald-Tribune, Fla.]
Job growth surges during July in Bay Area [East Bay Times]
Inovalis Real Estate Investment Trust announced today that its Board of Trustees has declared the REIT's monthly cash distribution for the months of August, September and October as per the following schedule:."/>
Inovalis Real Estate Investment Trust Announces August, September and October 2016 Distributions
Moody's Investors Services has assigned an AAA rating to Durham County's Series 2016 general obligation refunding bonds in the amount of $94.73 million. The' AAA' GO rating reflects S&P's view of the county in the following areas:."/>
Durham County earns AAA bond ratings from S&P, Moody's [The Herald-Sun, Durham, N.C.]
M and A Navigator: Deal pipeline –19 August
Summit Hotel Properties, Inc. announchas completed the acquisition of the 157- guestroom Marriott inBoulder, Colorado for a gross purchase price ofUSD 61.4 m, the company said. Summit Hotel Properties also entered into a management agreement with Stonebridge Realty Advisors, Inc.. The gross purchase price represents a capitalisation rate of 8.2% on management's current estimate of the Hotel's 2017 net operating income, which includes..."/>
Summit Hotel Properties Acquires Boulder, Colorado Marriott for USD 61.4m 
Pacific Continental, the companies said. On 26 April, the companies announced their agreement and plan of merger under which Pacific Continental will acquire Foundation..."/>
Foundation Bancorp, Pacific Continental Set Election Deadline in USD 67.1m Merger
EPR Properties today announced that its Board of Trustees has declared its monthly cash dividend to common shareholders. The dividend of $0.32 per common share is payable September 15, 2016 to shareholders of record on August 31, 2016. This dividend represents an annualized dividend of $3.84 per common share, an increase of 5.8% over prior year and the Company’ s sixth consecutive year with an annual dividend increase."/>
EPR Properties Declares Monthly Dividend for Common Shareholders
CIFC LLC, a U.S. private debt investment manager, and F.A.B. Partners, an alternative investment platform, today announced that CIFC and an affiliate of F.A.B. have entered into a definitive merger agreement under which F.A.B. will acquire CIFC for approximately $333 million in cash. Under the terms of the merger agreement, CIFC shareholders will be entitled to receive $11.46 in cash per share– $11.36 per share as consideration in the..."/>
CIFC To Be Acquired By F.A.B. Partners For $333 Million In Cash
Your Community Bankshares, Inc., the holding company for Your Community Bank, announced today that YCB shareholders voted to approve the Agreement and Plan of Merger, dated May 3, 2016, between WesBanco, Inc. and YCB. 98.75 percent of votes cast at a special meeting of YCB shareholders voted in favor of the merger, representing 69.97 percent of all outstanding YCB shares as of the record date. Subject to satisfaction of all remaining closing conditions for the..."/>
Your Community Bankshares Shareholders Approve Merger Agreement with WesBanco
Timbercreek Financial Corporation is pleased to announce that its board of directors has declared a monthly cash dividend of $0.057 per common share of the Company to be paid on September 15, 2016 to holders of Common Shares of record on August 31, 2016.. The Company also offers a Dividend Reinvestment Plan, which is eligible to holders of Common Shares and provides a convenient means to purchase additional Common Shares by reinvesting cash dividends at a..."/>
Timbercreek Financial Corporation Declares August 2016 Dividend
National Interstate Corporation announced that on August 18, 2016, its Board of Directors approved a quarterly dividend of $0.14 per share. The cash dividend will be payable on September 13, 2016 to shareholders of record of the Company's common stock as of the close of business on September 2, 2016.. About National Interstate Corporation An Insurance Experience Built Around You."/>
National Interstate Corporation Announces Quarterly Dividend
Citizens Financial Group, Inc. announced today its plans to release third quarter results on Friday, October 21, 2016 by 7:00 am ET. The news release and supplemental materials will be available at CFG management will host a live conference call that morning with details as follows:."/>
Citizens Financial Group to Announce Third Quarter Results on October 21, 2016
GWG Holdings, Inc. reported non-GAAP net asset value of $111,858,000, or $18.72 per common share, at June 30, 2016, based on an aggregate redemption value of preferred stock of $24,418,000. Following the release of this information, GWG Holdings identified an error in calculation that had inadvertently omitted the redemption value of Redeemable Preferred Stock sold during the second quarter of 2016."/>
GWG Holdings, Inc. Announces Correction to Non-GAAP Net Asset Value Calculation
Wintrust Financial Corporation announced today that its subsidiary Lake Forest Bank and Trust Company has completed its previously announced acquisition of select loans and related relationships from GE Capital Franchise Finance. The loans totaled $554 million at close, down from the previously announced $581 million due to amortization and additional principal payments related to normal course of business activity. The loans are to..."/>
Wintrust Financial Corporation Completes Acquisition of Select Loans from GE Capital Franchise Finance
First Acceptance Corporation today reported its financial results for the three and six months ended June 30, 2016.. For the three and six months ended June 30, 2016, we recognized $25.8 million and $31.0 million, respectively, of unfavorable prior period loss development. Loss before income taxes, for the three months ended June 30, 2016 was $30.6 million, compared with income before income taxes of $0.7 million for the three months ended June 30,..."/>
First Acceptance Corporation Reports Operating Results for the Three and Six Months Ended June 30, 2016
Travelers Companies, Inc. today announced with great sorrow the passing of Jay S. Fishman, its Executive Chairman of the Board and former Chief Executive Officer, who transformed Travelers into one of the best-performing companies in the financial services industry and the only property casualty insurer in the Dow 30.. “We are greatly saddened by the loss of our esteemed colleague and friend. Our thoughts are with his wife Randy and the entire Fishman family during..."/>
Travelers Mourns the Loss of Jay S. Fishman, Executive Chairman of the Board and Former CEO

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