Industry News

BB&T Corp., which this week completed the $1.8 billion purchase of Allentown's National Penn Bancshares Inc., saw the expansion contribute to a 19.2 percent increase in second-quarter income. North Carolina-based BB&T said Thursday it posted $541 million in net income for the period ending June 30, or 66 cents per diluted share. That's up from $454 million, or 62 cents per share, for the quarter in 2015.."/>
BB&T bank expansion into Lehigh Valley leads to higher quarterly earnings [The Morning Call (Allentown, Pa.)]
F.N.B. Corp. is making a push further south with the acquisition of Raleigh-based Yadkin Financial Corp. in an all-stock deal valued at $1.4 billion."/>
BRIEF: First National Bank parent buying Carolinas bank Yadkin Financial [The Pittsburgh Tribune-Review]
Bank of New York Mellon struggled with declining revenue in the second quarter and executives promised to hold costs down for the rest of the year as the bank searches for ways to improve profitability amid low interest rates. The New York-based bank, which has 7,000 employees at its corporate office in Pittsburgh, is looking to keep expenses flat for the rest of the year amid weak global economic growth that has kept interest rates low, limiting the returns banks earn on..."/>
BNY Mellon sees dip in 2nd quarter profit [The Pittsburgh Tribune-Review]
RioCan Real Estate Investment Trust today announced that it has entered into a firm agreement with Canada Pension Plan Investment Board's to acquire their interest in four properties that are currently co-owned, which is anticipated to close before the end of July 2016. RioCan will purchase CPPIB's 50% interest at an aggregate purchase price of $352 million and will not assume any additional mortgage debt from the seller in connection with the..."/>
RioCan Announces Firm Agreement to Acquire CPPIB's Interest in Four Properties and Provides an Update on Recent Acquisition Activities
DST Systems Inc. reported a sharply lower second-quarter profit, citing costs from recent layoffs and lower investment sales. The $53 million profit equaled $1.58 a share. A year ago, DST Systems had earned $107.5 million, or $2.91 a share, thanks in part to $100.3 million in proceeds from selling investments such as shares it owned in State Street Corp. Investment sales in the recent quarter totaled $31.8 million."/>
DST Systems earnings down on smaller investment sales [The Kansas City Star]
Bank First National Corporation reported net income for the second quarter of 2016 of $3.76 million, or $0.60 per share, as compared to $3.39 million, or $0.54 per share, for the second quarter of 2015, representing an 11% year-over-year increase. Net interest income after provision for loan losses was $9.59 million for the quarter ended June 30, 2016, compared to $8.83 million for the prior year quarter, representing a 9% increase..."/>
Bank First reports 11% increase in quarterly earnings, increases per share cash dividend to $0.15
Brandywine Realty Trust and Realen Properties Inc., Equus president and chief executive Daniel DiLella said in an email on Thursday. The 172,327- square-foot, three-story building sold for $32.1 million on June 30, Brandywine said in a statement on its quarterly earnings Wednesday. Brandywine is also under agreement to sell 1120 Executive Plaza in..."/>
BRIEF: Equus buys Berwyn building for $32M [The Philadelphia Inquirer]
Fidelity Southern Corporation, holding company for Fidelity Bank, today reported net income of $6.6 million and $11.2 million for the quarter and six months ended June 30, 2016, respectively. Earnings per diluted share was $0.26 and $0.44 for the quarter and six months ended June 30, 2016, respectively. EPS was impacted by $0.21 per share due to the non-cash mortgage servicing rights impairment Return on average assets was 0.64%; excluding the..."/>
Fidelity Southern Corporation Earns $6.6 Million In Second Quarter
Lakeland Financial Corporation, parent company of Lake City Bank, today announced that David M. Findlay, President and Chief Executive Officer, Michael E. Gavin, Chief Credit Officer and Lisa M. O’ Neill, Chief Financial Officer will attend Keefe, Bruyette& Woods’ 17 th Annual Community Bank Investor Conference, held in New York City on August 2 and 3, and will participate in a series of meetings with institutional investors during the conference.."/>
Lakeland Financial Corporation to Present at the Keefe, Bruyette & Woods 2016 Community Bank Investor Conference
Metlife is rebranding its Charlotte-based U.S. retail business as Brighthouse Financial. MetLife announced in January its plans to spinoff much of the retail business as the company tries to decrease its size and limit federal capital requirements. Executive Vice President Eric Steigerwalt, based in Charlotte, will lead the spun-off business unit."/>
BRIEF: MetLife to rebrand Charlotte-based U.S. retail business as Brighthouse Financial [The Charlotte Observer]
Yadkin Financial, which has branches in the Charlotte area. In the all-stock deal, FNB Corp. said it's paying $27.35 per share, or $1.4 billion in total, based on the 20- day trailing average closing stock price of FNB shares. Yadkin Bank will merge into an FNB subsidiary, First National Bank of Pennsylvania."/>
BRIEF: Pittsburgh bank buying Raleigh-based Yadkin Financial [The Charlotte Observer]
Yadkin Financial Corp. will be acquired by Pittsburgh-based FNB Corp. for $1.4 billion, the companies announced Thursday. The all-stock transaction would pay Yadkin shareholders about $27.35 per share. As part of the acquisition, FNB will gain Yadkin's $7.5 billion in assets and 100 bank offices in North and South Carolina, creating a banking operation extending from the Mid-Atlantic region to the Southeast."/>
Raleigh-based Yadkin Bank sold for $1.4b [The News & Observer (Raleigh, N.C.)]
United Community Financial Corp. holding company of The Home Savings and Loan Company announced today that Gary Small, President and Chief Executive Officer along with Matt Garrity, Executive Vice President, Commercial Lending& Credit Administration will be presenting at the Keefe, Bruyette& Woods 2016 Community Bank Investor Conference in New York City, on Wednesday, August 3, 2016 at 9:00 AM ET. A copy of the presentation will be available on..."/>
United Community Financial Corp. to Present at KBW 2016 Community Bank Investor Conference
Bank of New York Mellon this morning reported profits for the second quarter were flat at $825 million vs. $830 million in the same period last year as expenses fell. Earnings per share edged up 3 percent to 75 cents vs. 73 cents last year. Excluding special items in both periods, per-share profits dipped 1 percent to 76 cents, down from 77 cents in the second quarter of 2015.."/>
BNY Mellon earnings flat as revenue falls [Pittsburgh Post-Gazette]
Moody's Investors Service said on Thursday. However, in the aftermath of the oil price plunge and dip in revenues, the two indicators-- as measured by external debt to GDP and external debt to reserves-- of MEA countries increased recently, the ratings..."/>
MEA least vulnerable as emerging market external debt trebles to $8.2t [Khaleej Times, Dubai, United Arab Emirates]
First West Virginia Bancorp, Inc. President and Chief Executive Officer, William G. Petroplus, today announced second quarter earnings for the Wheeling, West Virginia, based holding company. First West Virginia Bancorp, Inc. is the parent company of Progressive Bank, N.A., Wheeling, West Virginia. The Company reported net income of $957,979 or$. 56 per share for the six months ended June 30, 2016 compared to $1,370,069 or$. 80 per share for the same..."/>
First West Virginia Bancorp, Inc. Announces Second Quarter 2016 Earnings
Nasdaq announced that trading of Impinj, Inc. commenced on The Nasdaq Stock Market on July 21, 2016.. Impinj is a leading provider of a RAIN RFID platform that delivers Item Intelligence, an item’ s unique identity, location and authenticity, to enterprise and consumer applications through both hardware and software elements. The Impinj platform includes tag integrated circuits, reader ICs, readers and gateways, and software."/>
Nasdaq Welcomes Impinj, Inc. to The Nasdaq Stock Market

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