Industry News

Boston Herald The Ticker column [Boston Herald]
Morningstar Research Inc., a Canadian subsidiary of Chicago-based independent investment research provider Morningstar, Inc., today released preliminary August 2016 performance data for its 44 Morningstar Canada Fund Indices, which measure the aggregate returns of funds in various standard categories. Most Canadian investors experienced modest gains in their fund holdings last month as only four of the 44 Fund Indices– all in sector equity..."/>
Fund Returns Mostly Positive in August, Morningstar Canada Data Show
Morningstar Research Inc., a Canadian subsidiary of Chicago-based independent investment research provider Morningstar, Inc., today released preliminary August 2016 performance data for its 44 Morningstar Canada Fund Indices, which measure the aggregate returns of funds in various standard categories. Most Canadian investors experienced modest gains in their fund holdings last month as only four of the 44 Fund Indices– all in sector..."/>
Fund Returns Mostly Positive in August, Morningstar Canada Data Show
Banc of California, Inc. announced today that Banc of California has been named the "Official Banking Partner of the Los Angeles Rams Foundation." Banc of California is recognized by Forbes Magazine as one of America's Best Banks and is one of the fastest growing banks in America. "Banc of California is a leader in corporate community development and we look forward to working together to bring meaningful change to Los..."/>
Banc of California Named Official Banking Partner of the Los Angeles Rams Foundation
ITT Educational Services Inc. disclosed Thursday that it has received a letter from insurer Chubb informing the company that Ace American Insurance Co. is moving to cancel a $19.8 million line of credit. Ace is requiring ITT to post collateral for the full amount within 30 days to avoid cancellation."/>
ITT Tech just provided its first update on how it's trying to survive [The Indianapolis Star]
Compass Diversified Holdings has closed on the acquisition of 5.11 Tactical pursuant to a July 29, 2016 agreement, the company said. The acquisition was completed for a purchase price of USD400 million and funded through a draw on the company's revolving credit facility as well as USD250 million in additional term loan debt issued under the Company's existing credit facility in connection with the closing of the 5.11 acquisition. 5.11 is a designer and marketer of..."/>
Compass Diversified closes acquisition of 5.11 Tactical
Voya Financial, Inc. has named Christine Hurtsellers as chief executive officer of Voya Investment Management, Voya Financial's asset management business, the company said. Hurtsellers has served as chief investment officer of Fixed Income for Voya Investment Management since 2009. Becker served as CEO of Voya Investment Management since 2009.."/>
Voya Investment Management names CEO
Comerica Bank's Texas economic activity index has declined in June, down 0.3 percentage points to a level of 91.2. June's reading is 18 points, or 25 percent, above the index cyclical low of 72.8, the company said. The index averaged 97.5 points for all of 2015, seven and three-fifths points below the average for full-year 2014."/>
Comerica Bank's Texas index falls 0.3 points
Arrow Financial Corporation is a multi-bank holding company headquartered in Glens Falls, New York, serving the financial needs of northeastern New York."/>
Arrow Financial declares stock dividend
Sun Life Financial Inc. has declared dividend rates for its Class A non-cumulative rate reset preferred shares series 10 R and Class A non-cumulative floating rate preferred shares series 11 QR, the company said. With respect to Series 10 R shares, the dividend rate for the five-year period commencing on September 30, 2016 to but excluding September 30, 2021 will be 2.842 percent per annum or CAD0.177625 per share per quarter. With respect to any Series 11 QR shares that are..."/>
Sun Life Financial declares dividend rates on preferred shares
Suncrest Bank and Security First Bank today announced that they have entered into a definitive agreement whereby Security First Bank will merge with and into Suncrest Bank in a cash and stock deal, valued at $18.1 million, based on a per share valuation of Suncrest Bank stock of $8.25. Under the terms of the agreement, shareholders of Security First Bank can elect to receive either 1.21212 shares of Suncrest Bank common stock..."/>
Suncrest Bank To Acquire Security First Bank
Comerica Bank's California Economic Activity Index has improved by 0.5 percentage points in June to a level of 121.0, compared to June's reading of 37 points, or 44 percent, above the index cyclical low of 84.1, the company said. The index averaged 119.8 points for all of 2015, six and two-fifths points above the average for all of 2014. May's index reading was 120.5."/>
Comerica Bank's California index improves 0.5 points
Comerica Bank's Michigan Economic Activity Index has increased 1.9 percentage points in June to a level of 129.8, compared to June's reading of 56 points, or 75 percent, above the index cyclical low of 74.1, the company said. The index averaged 123.6 points for all of 2015, five and four-fifths points above the index average for 2014. May's index reading was 127.9."/>
Comerica Bank's Michigan index increases 1.9 points in June
United Overseas Bank aims to raise the number of its credit cards to 1 million in the next two years and maintain double-digit percentage growth for card spending. There are around 730,000 UOBT credit cards circulating in the market, up from 700,000 at the end of last year, said Tearavath Trirutdolokkul, executive director, head of card payment and unsecured products. The bank's plastic card spending growth of 18.9% for the first half of the year was double the industry's..."/>
UOBT aims for 1 million credit cards in two years [Bangkok Post, Thailand]
Associated Banc-Corp today announced changes involving its executive committee. Scott S. Hickey, executive vice president and chief credit officer, has announced his plans to retire in the second quarter of 2017. Hickey, who joined Associated in 2008, had a successful career in the financial services industry spanning four decades."/>
Associated Bank announces leadership changes
Stewart Information Services Corporation reported on Thursday that it will pay a quarterly common stock cash dividend distribution of USD0.30 per share, declared on 16 November 2015.. This distribution will be made on 30 September 2016 to shareholders of record on 15 September 2016.. Stewart is a global real estate services company that offers products and services directly and through its network of Stewart Trusted Providers and family of companies."/>
Stewart Information Services declares dividend of USD0.30 per share for quarter
NASB Financial Inc disclosed on Thursday that its board of directors approved a quarterly common stock cash dividend of USD0.26 per share. All stockholders of record date on 16 September 2016 will be paid the dividend on 30 September 2016.. NASB Financial operates as a unitary thrift holding company for North American Savings Bank FSB, a regional bank that provides various banking services in the US."/>
NASB Financial announces dividend of USD0.26 per share for quarter
China Everbright Limited announced that the Shanghai Film Art Academy, in which CEL's IDG-Everbright Industry Fund has a controlling stake, participated in the Venice Film Festival as exclusive hosts of the "Asia-Pacific Film Art Unit" for a period of five years. In conjunction with their agreement with the Venice Film Festival, CEL and the Academy have jointly unveiled the establishment of an international film hub in Shanghai. The Academy has also..."/>
Shanghai Film Art Academy Invested by IDG-Everbright M&A Investment Fund Acquires 5-Year Exclusive Rights to Host Venice Film Festival's Asia-Pacific Unit
China Everbright Limited announced that IDG-Everbright M&A Investment Fund which was jointly established by CEL and IDG Capital Partners, has acquired a controlling stake in the Shanghai Film Art Academy, to join hands to construct a "Bright Future Film& Television Industry Base". Cultural education and film entertainment have been the segments that IDG-Everbright M&A Investment Fund focuses on. The latest investment in the Academy marks an important..."/>
IDG-Everbright M&A Investment Fund Invests in Shanghai Film Art Academy and Join Hands to Construct a "Bright Future Film & Television Industry Base"
Reinsurance Group of America devoted the first sentence of its first-quarter report to "operating income," marked with an asterisk. Net income was relegated to the second sentence."/>
SEC puts limits on rose-colored earnings reports [St. Louis Post-Dispatch]

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