Industry News

India's 10-year bond yield nears 2009 lows [Mint, New Delhi]
Punjab National Bank's net profit fell 57% to Rs.306 crore in the first quarter of 2016-17 from Rs.720 crore in the year-ago period as bad debts zoomed. Gross non-performing assets of the bank as a percentage of advances more than doubled to 13.75% from 6.47% in the year-ago period. Net NPAs also touched 9.16% from 4.05% in the year-ago quarter."/>
PNB Q1 profit falls 57% to Rs306 crore [Mint, New Delhi]
Punjab National Bank turned profitable in the June quarter. Surprisingly, the state-run lender, widely expected to post a loss, clocked a net profit of Rs.306 crore. So, why did PNB shares plunge nearly 3% on Thursday after the announcement of its June quarter earnings?"/>
Punjab National Bank: the devil is in the details [Mint, New Delhi]
Flipkart's godfather in New York [Mint, New Delhi]
RBI levies Rs1 crore penalty on UCO Bank [Mint, New Delhi]
Corporate Office Properties Trust took a hit in the three-month period that ended in June, as it wrote off nearly $70 million related to properties the real estate investment trust has decided to sell or not redevelop. The Columbia-based firm, which develops and owns office buildings with primarily defense-related tenants, said Thursday it lost 54 cents per share in the second quarter, compared to profits of 13 cents per share during the same period last year."/>
COPT reports losses in second quarter [The Baltimore Sun]
Reinsurance Group of America jumped 81 percent during the second quarter, beating Wall Street expectations. The Chesterfield-based global provider of life reinsurance reported net income of $236.1 million, or $3.64 per share, for the quarter ended June 30 compared with $130.4 million, or $1.94 per share, a year earlier. Excluding certain items, Reinsurance Group reported adjusted earnings of $2.80 per share, much higher than average analyst estimate of $2.29,..."/>
BRIEF: Profit soars for Reinsurance Group during 2Q [St. Louis Post-Dispatch]
Aflac in the second quarter, with the Columbus-based insurer reporting an operating profit of $707 million on total revenues of $5.4 billion from its business in Japan and the United States. Aflac Chairman and CEO Dan Amos, in a statement with the firm's earnings report, said he was pleased with the results, which "reflected solid performance and advanced our progress toward achieving the company's objectives for 2016.". The overall profit..."/>
Aflac reports operating profit of $707 million on revenues of $5.4 billion in second quarter [Columbus Ledger-Enquirer, Ga.]
CVB Financial Corp., the holding company for Citizens Business Bank, is pleased to announce the appointment of Anna Kan as a Board Member. She was also named a Director of Citizens Business Bank. “Her entrepreneurial experience in building a successful small business during challenging economic times will add a unique perspective to the CVB Financial Corp. Board of Directors.” said Raymond V. O’ Brien III, Chairman of CVBF.“ We are excited about Anna’ s insight into..."/>
CVB Financial Corp. Announces New Board Member
BFC Financial Corp. and BBX Capital Corp. in Fort Lauderdale have entered into a merger agreement, the companies announced Thursday. If completed, BBX will become a subsidiary of BFC. Both companies have a significant ownership in timeshare company Bluegreen Corp. in Boca Raton."/>
BRIEF: Bluegreen timeshare stockholders to merge [Sun Sentinel]
Pure Industrial Real Estate Trust today announced that the Trust has successfully closed on a $110 million mortgage financing. The Trust obtained a first mortgage financing of $110,000,000 on the recently constructed state of the art, 422,433 square feet, logistics and distribution facility in Vaughan, Ontario. The mortgage bears interest at a fixed rate of 3.40% per annum over a term of 10 years."/>
Pure Industrial Real Estate Trust Secures Mortgage Financing of $110 Million
Capitol Federal Financial Inc. on Thursday reported a 4.8 percent increase in its earnings during April, May and June compared with a year ago. The parent company of Capitol Federal Savings said it earned $20.6 million, or 15 cents a share, in the three months that make up the third quarter of the company's fiscal year. It earned $19.6 million, or 14 cents a share, in the quarter a year earlier."/>
BRIEF: Capitol Federal earnings climbed in third quarter [The Kansas City Star]
Columbia Banking System on Thursday released its second-quarter results-- with net income of $25.4 million-- and announced that the board of directors has approved increased dividends for shareholders. "The second quarter of the year has traditionally been a strong quarter for us and was again this year," said Columbia President and CEO Melanie Dressel in a release."/>
Dividends increase as second quarter earnings shine at Columbia Bank [The News Tribune (Tacoma, Wash.)]
First Northern Community Bancorp, holding company for First Northern Bank, today announced earnings through the second quarter of 2016."/>
First Northern Community Bancorp Reports Second Quarter 2016 Earnings
1st Colonial Bancorp, Inc., holding company of 1 st Colonial Community Bank, today reported that its net income for the three months ended June 30, 2016 was $910,000, compared to $757,000 for the three months ended June 30, 2015. Net interest income increased $531,000, resulting from continued growth in interest earning assets. Non-interest income also increased by $150,000, primarily attributable to increased fees from the origination and sale of..."/>
1st Colonial Bancorp Reports Second Quarter Net Income Growth and Year to Date Profit of $1,793,000
County Bancorp, Inc., the holding company for Investors Community Bank, a commercial bank headquartered in Manitowoc, Wisconsin, reported net income of $1.9 million, or $0.30 diluted earnings per share, for the second quarter of 2016, compared to net income of $2.2..."/>
County Bancorp, Inc. Announces Strong 2nd Quarter Earnings

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