Industry News

Radian Group Inc. today announced Peter Danna has rejoined the company as Senior Vice President, Structured Products. In his new role, Danna will seek to foster new business while leading and managing a cross-functional group supporting the development of structured residential mortgage credit products and related services outside of traditional mortgage..."/>
Radian Appoints Peter Danna as SVP, Structured Products
Assured Guaranty’ s Insured Portfolio. HAMILTON, Bermuda---- Assured Guaranty Ltd., the leading financial guaranty insurance company, announced that its subsidiary Assured Guaranty Corp. has entered into an agreement to acquire MBIA UK Insurance Limited, the European operating subsidiary of MBIA Insurance Corporation. The parties expect the transaction to close in early January 2017, subject to receipt of regulatory approvals..."/>
Assured Guaranty to Acquire MBIA UK Insurance Limited
Assured Guaranty Corp., a subsidiary of Assured Guaranty Ltd.. The purchase price consists of the transfer to MBIA UK Holdings of notes issued by Zohar II 2005-1 CLO with an aggregate outstanding principal amount of approximately $347 million and a cash payment by MBIA UK Holdings to Assured of $23..."/>
MBIA Insurance Corporation Announces Agreement to Sell Subsidiary
Camden National Corporation has declared a dividend of USD0.20 per share, the company said. The declared dividend is payable on October 31, 2016, for shareholders of record on October 17, 2016.. Camden National Corporation is the holding company of Camden National Bank and Acadia Trust, N.A."/>
Camden National declares dividend
M&T Bank Corporation has acknowledged the passing of Richard G. King, a member of the company's board of directors since 2000, the company said. King joined the boards of both M&T and its subsidiary M&T Bank in 2000, following M&T's acquisition of Pennsylvania-based Keystone Financial. He was a member of the board's audit, examining, and trust and investment committees."/>
M&T Bank director passes away
CapStar Financial Holdings, Inc. has closed the initial public offering of 2,972,750 shares of its common stock, including 387,750 shares purchased by the underwriters pursuant to the full exercise of their purchase option, the company said. The shares were sold at a public offering price of USD15.00 per share, resulting in aggregate gross proceeds of approximately USD44.6 million. The net proceeds are expected to be approximately USD22 million."/>
CapStar exercises purchase option, closes IPO
ZAIS Financial Corp. and Sutherland Asset Management Corporation, have received the necessary stockholder approvals to move forward with their previously announced merger, the companies said. At two separate special meetings of the stockholders of ZFC and Sutherland held today, the ZFC stockholders voted in favor of the proposal to issue shares to Sutherland stockholders in connection with the merger, and the Sutherland stockholders voted in favor of the proposal to..."/>
ZAIS Financial, Sutherland Asset Management report stockholder approvals on merger
AmeriServ Financial Bank has funded two local Senior Crimestoppers programs that provide safe and secure living environments for seniors in the communities it serves, the company said. In conjunction with CRA Partners, the bank came forward to help vulnerable seniors by funding this program that protects those who live and work in local care facilities. AmeriServ Financial, Inc. is a USD1.1 billion bank holding company headquartered in Johnstown, Pa. with principal..."/>
AmeriServ Financial Bank funds senior living environments
BBX Capital Corporation announced today that it has won its appeal in the Eleventh Circuit Court of Appeals in the action brought against the Company and Alan Levan by the SEC. Today's decision reversed two highly unusual pretrial orders entered at the behest of the SEC which, as the Eleventh Circuit points out, violated fundamental legal principles. In setting aside the judgment, the penalties imposed by the district court were reversed as well,..."/>
Eleventh Circuit Court of Appeals Reverses Judgment Against BBX Capital and Alan B. Levan
Mercantile Bank Corporation announced today a series of promotions that continue the management transition process initiated with the July 2016 announcement of senior leadership transition to become effective on January 1, 2017. The promotions, which are all internal to Mercantile Bank of Michigan, are also effective January 1, 2017.. "These management changes are a continuation of our long term succession planning process," said..."/>
Mercantile Bank Corporation Announces Ongoing Succession Appointments
Riverview Bancorp, Inc., and its wholly owned subsidiary, Riverview Community Bank, and Merchants Bancorp and its wholly owned subsidiary MBank, announced that they have entered into a Purchase and Assumption Agreement. Pursuant to the Agreement, Riverview will acquire certain assets and assume certain liabilities of MBank in a cash transaction. The Agreement also provides that Riverview Bancorp will assume the obligations of..."/>
Riverview Community Bank and MBank Announce Signing of a Purchase and Assumption Agreement
Tabula Rasa HealthCare, Inc., a provider of patient-specific, data-driven technology and solutions that enable healthcare organizations to optimize medication regimens, will visit the Nasdaq MarketSite in Times Square in celebration of its initial public offering. In honor of the occasion, Dr. Calvin H. Knowlton, CEO, Chairman, and Founder, will ring the Opening Bell."/>
Tabula Rasa HealthCare, Inc. (Nasdaq: TRHC) to Ring The Nasdaq Stock Market Opening Bell
Nasdaq MarketSite in Times Square, wrapping up the Foundation’ s month long recognition of Childhood Cancer Awareness month. In honor of the occasion, Thomas Scerbo, Board Member, will ring the Closing Bell. Where: Nasdaq MarketSite– 4 Times Square– 43 rd& Broadway– Broadcast Studio."/>
Tom Coughlin Jay Fund Foundation to Ring The Nasdaq Stock Market Closing Bell
Dean frets over future ranking [Bangkok Post, Thailand]
Northern Trust has made two new appointments in its Global Family& Private Investment Offices team in London to support the increasingly complex needs of ultra-high net worth families and their family offices and family foundations across Europe, Middle East and Africa. These latest appointments come as the Global Family& Private Investment Offices business continues to grow in EMEA."/>
Northern Trust Announces Senior Appointments in its Global Family & Private Investment Office Group in London
Multi Commodity Exchange of India Ltd have risen by around 27% in the past seven trading sessions. Investors have been excited about the Securities and Exchange Board of India's plans to allow commodity exchanges launch options contracts; this was eventually approved on Wednesday. Besides, MCX suddenly raised its transaction fees by around 25% for futures contracts this week."/>
Options approval good, but MCX valuations ignore ground realities [Mint, New Delhi]
Multi Commodity Exchange of India Ltd jumped over 50% in the last 12 days on the back of higher volumes. The stock hit a three-and-a-half-year high on Thursday. The stock touched a high of Rs.1, 400 a share, a level last seen on 2 January 2013, and gained as much as 12.3% in intraday trade."/>
MCX gains over 50% in last 12 days [Mint, New Delhi]
China Everbright Limited; James Pan, CEO of EBA Real Estate Investments Consultancy Limited; Wang Yizhe, General Manager of Everbright Prestige Capital Asset Management Company; Yang Peng, Vice..."/>
China's First PERE+REITs Product Launched; EBP-EBA IMIX Park Asset-backed Special Programme Now Officially Listed
Cosi Inc., known for its flatbread sandwiches, yesterday filed for Chapter 11 bankruptcy protection with plans to sell the company. The cash-strapped chain said it closed 29 of its 74 company-owned restaurants and laid off 450 full- and part-time workers this week."/>
Boston Herald The Ticker column [Boston Herald]
Saregama India Ltd, the RP-Sanjiv Goenka Group's music company, is being turned into a production house to create content for online consumption. Apart from creating original content, Saregama has ambitious plans of dredging out its large collection of Indian film music, "evergreen tracks to be repackaged" for today's online audience, chairman Sanjiv Goenka said. The company, which enjoyed a near monopoly in Indian film music for generations, has so far digitized..."/>
Saregama to shift focus to content for online viewers [Mint, New Delhi]
Morgan Stanley raised concerns over the valuation of Indian bank shares. The investment bank pruned its weight as it didn't feel justified to have one-third of its portfolio in bank shares, given that most of them have risen by 30% in the last six months. Indeed, most bank shares have risen sharply despite unflattering results in the first quarter of 2016-17. Some of them have galloped more than 15% since June despite disastrous results."/>
Are Indian banks overvalued? [Mint, New Delhi]

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