Industry News

T Rowe Price Group Inc. has reduced the value of its stake in Flipkart Ltd by a fifth, its second cut in four months, reflecting continued investor concerns over the valuations of technology start-ups. The move came ahead of a statement by Flipkart on Friday that it was cutting 300 to 600 additional jobs, after already shrinking its workforce to 30,000 from 33,000 at the start of the year to reduce costs. US-based T. Rowe Price lowered the value..."/>
Flipkart valuation shrinks again; firm reveals job cuts [Mint, New Delhi]
ICICI Bank Ltd, on Friday, reported a 25% year-on-year drop in profits for the April to June quarter, owing to higher provisioning against bad loans. The private sector lender's net profit for the first quarter was at Rs.2232.35 crore, lower than the Rs.2, 976.16 crore reported a year ago. According to a poll of 20 Bloomberg analysts the bank was expected to post a net profit of Rs.2207.70 crore a year ago."/>
ICICI Bank Q1 profit falls 25% to Rs2,232.35 crore [Mint, New Delhi]
1st Capital Bank reported net income of $689 thousand for the three months ended June 30, 2016, an increase of 14.7% compared to net income of $601 thousand in the three months ended June 30, 2015 and a decrease of 2.2% compared to income of $704 thousand in the three months ended March 31, 2016, the immediately preceding quarter. Earnings per share were $0.17, compared to $0.17 for the prior quarter. On a year-to-date basis, net income increased 7.0% to $1.39..."/>
1st Capital Bank Announces Second Quarter 2016 Financial Results; Record First Half Pre-Tax Earnings
Tanger Factory Outlet Centers, Inc. today announced that the company's President and CEO, Steven B. Tanger, appeared as a featured guest on CNBC's "Mad Money with Jim Cramer" on Thursday, July 28, 2016.. During his segment, Tanger talked about the consistent strength of the outlet market despite a volatile retail industry. Over the past year, Tanger Outlets has opened five new centers located in Savannah, GA; Mashantucket, CT; Grand Rapids, MI;..."/>
Tanger Outlets CEO Steve Tanger Appears on CNBC's "Mad Money with Jim Cramer"
MSB Financial Corp., please note that the headline should read "MSB Financial Corp. Releases Second Quarter Earnings" rather than "MSB Financial Corp. Releases First Quarter Earnings" as previously stated."/>
CORRECTION – MSB Financial Corp.
Chemung Financial Corporation, the parent company of Chemung Canal Trust Company, today reported revised net income for the second quarter of 2016 of $1.6 million, or $0.34 per share, compared to $2.6 million, or $0.55 per share, for the second quarter of 2015. The revised net income for the second quarter of 2016 includes the establishment of a $1.2 million legal reserve relating to Notice of Entry of a decision and order of the New York Supreme Court for the..."/>
Chemung Financial Reports Revised Second Quarter 2016 Net Income of $1.6 Million, or $0.34 per Share
Hampton Roads Bankshares, Inc., the holding company for The Bank of Hampton Roads, and Xenith Bankshares, Inc., the holding company for Xenith Bank, today announced the completion of their previously announced strategic merger, whereby XBKS merged with and into HRB and Xenith Bank merged with and into BOHR. In connection with the merger, the combined company has assumed the Xenith Bankshares, Inc. name for the holding company and the..."/>
Hampton Roads Bankshares, Inc. and Xenith Bankshares, Inc. Announce Completion of Merger
Cigna will continue to work with its would-be buyer Anthem as the companies seek to convince a federal judge and regulators that their merged insurance giant would not be detrimental to consumers. The CEO of Bloomfield-based Cigna, David Cordani, told analysts during an earnings call Friday that it is "clearly our intent and commitment" to continue contributing significant time and resources to work on finalizing the $54 billion acquisition by Indianapolis-based..."/>
Cigna Committed To Fighting Antitrust Lawsuit, But Keeps Options Open [The Hartford Courant]
Value Line, Inc., announced that on July 29, 2016, Value Line, Inc. closed the sale of its 85,000 sq ft distribution, fulfillment and warehouse operating facility located in East Rutherford, New Jersey and expects to report an increment to net profits after tax for the first quarter of fiscal 2017 of approximately $5.39 million. The distribution, fulfillment and warehouse operations were recently relocated to an alternative 24,000 sq ft leased facility in the same..."/>
Value Line, Inc. Announces Sale of an Operating Facility
HDFC Bank Limited filed its Form 20- F for the year ended March 31, 2016 on July 29, 2016. Filings made by HDFC Bank Limited with the SEC are available from the SEC's EDGAR database via the direct link to its website located under "About Us/SEC Filings" on HDFC Bank's website, or via www.sec.gov. Shareholders/Members of the Bank may also write to Mr."/>
HDFC Bank Limited Form 20-F Available Online
Oregon Bancorp, Inc., parent company of Willamette Valley Bank, reported net income for the second quarter of $1,050,136, which is up from $444,197 during the same quarter of the previous year. Earnings per share rose to $0.97. The company declared a cash dividend of $0.30 per share during the quarter."/>
Oregon Bancorp Reports Record Q2 Earnings
Potomac Bancshares, Inc. earned $658 thousand or 20 cents per share compared to $584 thousand or 17 cents a share in the quarter ended June 30, 2015. Overall earnings through June 30, 2016 were $1.146 million compared to earnings for the same period last year of $1.143 million. Loans for the quarter were $309.3 million which is an increase from $262.7 million as of June 30, 2015."/>
Potomac Bancshares, Inc. Releases 2016 Second Quarter Results
First Keystone Corporation, parent company of First Keystone Community Bank, reported net income of $2,491,000 for the second quarter and $4,667,000 for the six month period ended June 30, 2016. Return on average assets for the six month periods ended June 30, 2016 and June 30, 2015 was 0.95% and 1.04%. Return on average equity was 8.23% and 8.97% for the six month periods ended June 30, 2016 and June 30, 2015."/>
First Keystone Corporation Announces Second Quarter and Year-to-Date 2016 Earnings
Territorial Bancorp Inc., headquartered in Honolulu, Hawaii, the holding company parent of Territorial Savings Bank, announces that its Board of Directors approved a quarterly cash dividend of $0.18 per share. The dividend is expected to be paid on August 26, 2016 to stockholders of record as of August 12, 2016.. Allan Kitagawa, Chairman and Chief Executive Officer, said,“ Hawaii’ s strong economy has allowed us to grow our loan portfolio by 13.4% from June 30,..."/>
Territorial Bancorp Inc. Declares Dividend
Summit Hotel Properties, Inc., announced today that its Board of Directors has authorized, and the Company has declared, a cash dividend for the second quarter ended June 30, 2016, of $0.1325 per share of common stock of the Company and per common unit of limited partnership interest in Summit Hotel OP, LP, the Company's operating partnership. The common dividend represents an annualized dividend yield of 3.8 percent based on the closing..."/>
Summit Hotel Properties Declares Second Quarter 2016 Dividends
Wellesley Bancorp, Inc., the holding company for Wellesley Bank, reported net income of $727 thousand and $1.5 million for the three and six months ended June 30, 2016, respectively. These results compare to net income of $585 thousand and $1.0 million for the three and six months June 30, 2015, respectively. The results for the quarter represent an increase of 24.3%, as compared to the prior year second quarter results."/>
Wellesley Bancorp, Inc. Reports Results for the Three and Six Months Ended June 30, 2016
Orchid Island Capital, Inc. announced today that it has filed a prospectus supplement under which it may from time to time sell up to $125 million of shares of its common stock through an at-the-market program. The shares of common stock may be offered through Ladenburg Thalmann& Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc., and MUFG Securities Americas Inc, as sales agents.. Sales are anticipated to be made primarily in..."/>
Orchid Island Capital, Inc. Announces At-the-Market Program
MSB Financial Corp., parent company of Millington Bank, reported today the results of its operations for the three and six months ended June 30, 2016.. The Company reported net income of $223,000 for the three months ended June 30, 2016, compared to a net loss of $33,000 for the three months ended June 30, 2015. Net income for the six months ended June 30, 2016 was $382,000 compared to net income of $183,000 for the six months ended June 30, 2015.."/>
MSB Financial Corp. Releases First Quarter Earnings
KeyCorp announced today that it has closed its acquisition of First Niagara Financial Group, Inc.. Systems and client conversion is expected during the fourth quarter of 2016, subject to pending regulatory approval by the Office of the Comptroller of the Currency for the merger of First Niagara Bank into KeyBank. "Key and First Niagara are a powerful combination, driven by a shared commitment to the clients and communities we serve," said Beth..."/>
KeyCorp Closes Acquisition Of First Niagara Financial Group
Kemper Corporation, collectively referred to as Kemper Property& Casualty Group. Best also has affirmed the FSR of A- and the ICRs of“ a-” of Kemper Corp.’ s life/health subsidiaries, collectively referred to as Kemper Life& Health Group. Best has affirmed the ICR of“ bbb-” and the senior issue ratings of“ bbb-” on $250.0 million..."/>
A.M. Best Affirms Ratings of Kemper Corporation, Its Affiliates and Subsidiaries
Element Financial Corporation, one of North America's leading fleet management and equipment finance companies, announced that it intends to file its financial statements and management discussion and analysis for the fiscal quarter ended June 30, 2016 after the close of markets on August 11, 2016.. The Company will host a conference call to discuss these results with analysts commencing at 5:00 pm. on August 11, 2016. The conference call may be..."/>
Element Financial Schedules Q2-2016 Conference Call
New York REIT, Inc., announced today that, pursuant to the authorization of its board of directors, NYRT will pay a dividend for the month of August 2016 equal to $0.038333333 per share to stockholders of record at the close of business on August 8, 2016 and payable on August 15, 2016.. NYRT is a publicly traded real estate investment trust listed on the NYSE that owns income-producing commercial real estate, including office and retail properties,..."/>
New York REIT, Inc. Announces Common Stock Dividend for August 2016
Seacoast Banking Corporation of Florida announced today that management is scheduled to participate in Keefe, Bruyette& Woods 2016 Community Bank Investor Conference on August 2 nd and 3 rd, 2016 in New York, New York. Denny Hudson, Chairman, and other members of management will conduct one-on-one meetings with investors. For more information on the conference, or to schedule a one-on-one meeting, please contact your Keefe, Bruyette& Woods..."/>
Seacoast Banking Corporation of Florida To Participate In Keefe, Bruyette & Woods 2016 Community Bank Investor Conference
Gladstone Capital Corporation announced that it has completed a debt investment in IA Tech, LLC.. Headquartered in Atlanta, GA, IA Tech owns a portfolio of eCommerce and digital marketing businesses serving outdoor enthusiast communities. “IA Tech has established an impressive market position and is continuing to execute on a number of complementary business extensions and compelling opportunities."/>
Gladstone Capital Corporation Invests in eCommerce Business

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