Industry News

Comerica Bank's Michigan Economic Activity Index increased 1.9 percentage points in June to a level of 129.8. June's reading is 56 points, or 75 percent, above the index cyclical low of 74.1. The index averaged 123.6 points for all of 2015, five and four-fifths points above the index average for 2014."/>
Comerica Bank's Michigan Index Climbs
Bank of America. The complaint alleges illegal discrimination by BoA in African American and Latino neighborhoods in six additional cities. This new evidence of discriminatory treatment by BoA will be added to the federal Fair Housing Act complaint on file with the U.S."/>
Bank of America Accused of Racial Discrimination in 30 U.S. Metropolitan Areas and 201 Cities
First Cash Financial Services and Cash America International, Inc. announced today that the shareholders of both First Cash and Cash America overwhelmingly approved the merger of equals transaction between the two companies at their respective special meetings held earlier today. The closing of the merger transaction is expected to occur on September 1, 2016. The combined company will be named FirstCash, Inc. and will be..."/>
First Cash and Cash America Announce Shareholder Approval of Merger of Equals
Intact Financial Corporation announced today that it does not intend to exercise its right to redeem all or any part of the currently outstanding Non-cumulative Rate Reset Class A Shares Series 3 of IFC on September 30, 2016. As a result, subject to certain conditions set out in the prospectus supplement dated August 11, 2011 relating to the issuance of the Series 3 Preferred Shares, the holders thereof will have the right, at their option, to elect to..."/>
Intact Financial Corporation Announces Conversion Right of Series 3 Preferred Shares and Dividend Rates on Series 3 and Series 4 Preferred Shares
Manhattan Bridge Capital, Inc., a real estate finance company specializing in originating, funding, servicing, and managing a portfolio of short-term loans secured by first mortgage liens on real estate, today announced that, on August 29, 2016, Aegis Capital Corp., the sole underwriter of its previously announced public offering of 672,269 common shares at a price to the public of $5.95 per share, has elected to fully exercise the over-allotment..."/>
Manhattan Bridge Capital, Inc. Announces Closing of Over-Allotment Option Shares
First American Financial Corporation, a leading global provider of title insurance, settlement services and risk solutions for real estate transactions, today released the First American Loan..."/>
Refinance Boom and Compliant Loan Production Processes Keeping Loan Defect Rate at Low Point, According to First American Loan Application Defect Index
VersaBank today announced that its Board of Directors have declared quarterly cash dividends on its 7.0% Series 1 Preferred Shares and 7.0% Series 3 Preferred Shares. The Series 1 Preferred Share dividend of $0.175 per Series 1 Preferred Share is payable, subject to the approval of the Toronto Stock Exchange, as of October 31, 2016 to shareholders of record at the close of business on October 7, 2016.. The Series 3 Preferred Share dividend of $0.175 per Series 3..."/>
VersaBank to Pay Quarterly Dividends on Series 1 & Series 3 Preferred Shares
VERSABANK ANNOUNCES AN INCREASE OF 44% IN ITS RESULTS FOR ITS THIRD QUARTER ENDING JULY 31, 2016 COMPARED TO THE SAME PERIOD A YEAR AGO.. Net income of VersaBank for the current quarter was $2.5 million or $0.09 per common share, increasing by 36% from $1.8 million or $0.06 per common share for the previous quarter and compared to $1.7 million or $0.05 per common share a year ago, an increase of 44%. Net income increased from the previous quarter and a year ago primarily as a result of an..."/>
VersaBank: Third Quarter Report July 31, 2016
PWC Capital Inc. Announces Results for its Third Quarter Ended July 31, 2016. LONDON, Ontario---- PWC Capital Inc.. Net income of PWC Capital Inc. for the three months ended July 31, 2016, was or per common share compared to or per common share for the previous quarter and $1.2 million or $0.01 per common share for the same period a year ago."/>
PWC Capital Inc. Third Quarter Report July 31, 2016
U.S. Housing Market Holding Steady
Vermillion, Inc., a bio-analytical solutions company focused on gynecologic disease, will visit the Nasdaq MarketSite in Times Square, to help kick off Ovarian Cancer Awareness Month. In honor of the occasion, Valerie Palmieri, President and Chief Executive Officer, will ring the Closing Bell along with OVA1 Blood Test Spokespersons:. Shannon Miller- America’ s Most Decorated Olympic Gymnast& Ovarian Cancer survivor Sherry Pollex- Life partner of NASCAR Driver Martin Truex, Jr. and..."/>
Vermillion, Inc. (Nasdaq: VRML) to Ring The Nasdaq Stock Market Closing Bell
Chubb company, hosted its annual Combined Insurance Golf Outing, raising more than $20,000 to benefit Chicago-based military veteran charity— The Jason McKie Foundation. Nearly 100 of Combined Insurance's employees, vendors, and other guests came together to golf and give back at Old Orchard Country Club in..."/>
Combined Insurance Golf Outing Raises $20,000 to Benefit The Jason McKie Foundation
Habit Restaurants, Inc. and Tom Nelson, President of Share Our Strength, which operates the No Kid Hungry campaign, will ring the opening bell. The Habit hopes to raise more than $200,000 to provide more than 2 million meals to kids in need."/>
The Habit Restaurants, Inc. (Nasdaq: HABT) Teams with No Kid Hungry – Kicks off Fundraiser by Ringing The Nasdaq Stock Market Opening Bell
WesBanco, Inc., a multi-state bank holding company with total assets of approximately $8.4 billion, announced today that Todd F. Clossin, President and Chief Executive Officer, and Robert H. Young, Executive Vice President and Chief Financial Officer, are scheduled to participate in the Raymond James 2016 U.S. Bank Conference in Chicago, IL on Wednesday, September 7, 2016.. In addition, the formal presentation by Mr."/>
WesBanco CEO and CFO to Participate in the Raymond James 2016 U.S. Bank Conference
LM Funding America, Inc., a specialty finance company offering unique funding solutions to community associations, has implemented a cost cutting initiative that is expected to reduce expenses by approximately $2 million annually.. The initiative, which is expected to be completed by the beginning of Q4 2016, includes streamlining internal processes, reducing costs and ultimately, enhancing gross margins. These measures include reducing non-sales..."/>
LM Funding Implements Cost Cutting Initiative
PHI Group, a U.S. diversified holding company engaged in mergers and acquisitions announced today that the Company has obtained a $15 million secured line of credit facility for acquisition financing from TCA Global Fund, a U.S. institutional fund.. Henry Fahman, Chairman and CEO of PHI Group, Inc., said,“ Access to this credit facility will facilitate the Company’ s ability to carry out its acquisition program of smaller targets in North America, especially to..."/>
PHI Group Obtains Secured Line of Credit Facility for Acquisition Financing
Braemar Shipping Services fell nearly 9 pc after it warned investors to expect' materially lower' results this year."/>
Daily Mail, London, business briefs column [Daily Mail, London]
Citigroup and was responsible for acquisition and corporate finance advisory services to middle market clients with enterprise values up to $500 million. At Citigroup, he conducted transactions in key economic sectors including retail, manufacturing, distribution, service, medical, hospitality, agriculture, action sports and real estate.“ David..."/>
Former Citigroup Executive Joins Newport Beach, California-Based Cambridge Companies as Managing Partner
W. R. Berkley Corporation today announced the appointment of Richard M. Lowery as senior vice president and chief information officer, reporting to Lucille T. Sgaglione, executive vice president. Lowery will be responsible for the development and implementation of strategic information technology solutions. The appointment is effective immediately."/>
W. R. Berkley Corporation Names Richard M. Lowery Senior Vice President and Chief Information Officer

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