Industry News

WesBanco, Inc., a multi-state bank holding company with total assets of approximately $8.4 billion, announced today that it has received all necessary regulatory approvals for the merger between WesBanco, Inc. and Your Community Bankshares, Inc.. On August 19, 2016, the shareholders of Your Community Bankshares approved the merger through adoption of the previously announced Agreement and Plan of Merger, pursuant to which Your..."/>
WesBanco, Inc. Receives Regulatory Approvals of Its Merger with Your Community Bankshares, Inc.
First Marblehead Corporation today announced the completion of its acquisition by FP Resources USA Inc., for US $5.05 per share in cash, without interest and subject to deduction for any required withholding tax, pursuant to a merger agreement by and among the Company, FP Resources USA Inc. and FP Resources Acquisition Corp., dated as of June 2, 2016.. The transaction was approved by the Company's stockholders at a special meeting of stockholders held on..."/>
First Marblehead Stockholders Approve Merger; Transaction Completed
Cincinnati Financial Corporation announced today that the company will participate in the Keefe, Bruyette& Woods 2016 Insurance Conference on September 7 from 8:45 to 9:25 a.m. ET. Steven J. Johnston, FCAS, MAAA, CFA, CERA, president and chief executive officer, and Michael J. Sewell, CPA, chief financial officer, senior vice president and treasurer, will represent the company. The event will be carried live over the internet at..."/>
Cincinnati Financial Corporation to Present at Keefe, Bruyette & Woods 2016 Insurance Conference
F.N.B. Corporation, announced today that it has been named a winner of the Greater Pittsburgh Area 2016 Top Workplaces award in the Large Company Category. This is FNB's sixth consecutive appearance on the ranking by the Pittsburgh Post-Gazette."/>
First National Bank Honored as Top Workplace in Pittsburgh for Sixth Consecutive Year
HomeTrust Bancshares, Inc., the holding company of HomeTrust Bank, announced today that the Company’ s annual meeting of stockholders will be held at 10:00 a.m., local time, on November 28, 2016, at the Renaissance Hotel, located at 31 Woodfin Street, Asheville, North Carolina.. HomeTrust Bancshares, Inc. is the holding company for HomeTrust Bank. As of June 30, 2016, the Company had assets of $2.7 billion."/>
HomeTrust Bancshares, Inc. Announces Date of Annual Meeting of Stockholders
Merchants Bank Night at Vermont Lake Monsters
Moody's Investors Service expects oil prices to remain low, moving within a $40-$60 per barrel range over the medium term. In June, Moody's raised its nearer term oil price estimates for Brent crude to $40 per barrel in 2016 and $45 in 2017, according to the agency's report. "While we have revised upwards our near-term estimated prices for oil, our medium-term expectation of' lower for longer' oil prices remains unchanged," says Steffen Dyck, a..."/>
BRIEF: Moody's expecting oil prices moving within $40-60 per barrel [Trend News Agency, Baku, Azerbaijan]
Mack-Cali Realty Corporation, a leading owner, manager, and developer of office and class A residential real estate throughout the Northeast, announced today that Jonathan Litt has resigned as a director of the Company, effective as of August 18, 2016. Litt's resignation is not related to any disagreement with the Company's operations, policies, or practices. "We thank Jonathan for his two plus years of service to the Company."/>
Mack-Cali Realty Corporation Announces Resignation Of Jonathan Litt From The Board Of Directors
Mizrahi Tefahot Bank and Union Bank of Israel have joined the Israel Tax Authority's demand for businessman Eliezer Fishman to be declared bankrupt. Bank Hapoalim has already joined the case. With estimated debts of over NIS 4 billion, this is probably the largest-ever bankruptcy of an Israeli businessman."/>
BRIEF: More banks join Eliezer Fishman bankruptcy demand [Globes, Tel Aviv, Israel]
Delek Group Ltd. announced today that it had signed an agreement for the sale of its 52.3% holding in insurance group The Phoenix Holdings Ltd. to Yango Investment PTE. Ltd., a unit of Chinese holding company Fujian Yango Group Co. Ltd., for NIS 1.948 billion, to be paid in cash on completion of the deal. The agreement values Phoenix at NIS 3.7 billion."/>
Delek sells Phoenix stake to China's Fujian Yango [Globes, Tel Aviv, Israel]
Monmouth Real Estate Investment Corporation bought the site, with 47 acres and 310,922 square feet at 5000 North Ridge Trail, Davenport. Located off Interstate 4, the shipping company has a 15 year lease there."/>
BRIEF: FedEx site sells for $37 million [Orlando Sentinel]
Cardinal Financial Corporation in connection with the proposed acquisition of the Company by United Bankshares, Inc.. On August 18, 2016, the Company announced that it had reached a definitive agreement for UBSI to acquire all outstanding shares of CFNL in a stock-for stock transaction valued at approximately $912..."/>
Cardinal Financial Corporation Acquisition May Not Be in the Best Interests of CFNL Shareholders
TheStreet, announced the details of its annual forecasting conference, The Deal Economy Event: Predictions& Perspectives for 2017. Held on December 1st at JW Marriott Essex House, the invitation-only event will gather some of the most influential members in the deal community for a series of discussions on key trends and issues that will confront dealmakers in 2017. A live stream of the discussions will be..."/>
After Clinton, Trump and Brexit: What Will M&A Look Like in 2017?
Prudential Financial, Inc., will participate in the KBW 2016 Insurance Conference in New York City on Thursday, September 8, 2016. Mark Grier, Prudential’ s vice chairman, will discuss the company’ s businesses and strategies at approximately 8:45 a.m., EST. Interested parties may listen to the presentation through a live audio webcast on Prudential Financial’ s Investor Relations website at www.investor.prudential.com."/>
Prudential Financial, Inc., to participate in KBW Insurance Conference; live webcast available
FDIC Settlement Nets Chase Over $600 Million [Mortgage Daily]
Alterra Home Loans LLC."/>
Mortgage M&As Move Forward [Mortgage Daily]
Monmouth Real Estate Investment Corporation acquired a new 310,922 square foot industrial building located at 5000 North Ridge Trail, Davenport, FL at a purchase price of $37,780,000 on August 19, 2016. The property is net-leased for 15 years to FedEx Ground Packaging System, Inc., a Delaware corporation. The building is situated on approximately 47 acres."/>
Monmouth Real Estate Investment Corporation Announces New Acquisition In The Orlando, FL MSA
Facebook's mantra for its developers once was, "Move fast and break things." It's a common theme among young companies: Strive to attain as much new business as possible. Yet gearing for growth is easy to overlook, and its possible effects can cause irreversible damage."/>
Managing new business growth -- one day at a time [Pittsburgh Post-Gazette]
Progressive Corporation's $500 million issuance of senior notes maturing in 2027.. Fitch's ratings are based on Progressive's excellent operating performance, pricing and underwriting expertise, personal auto insurance franchise, conservative investment allocation, and very strong risk-based capital position. Progressive's financial leverage, as measured by total debt to total capital adjusted for the impact of..."/>
Fitch Expects to Rate Progressive's Senior Notes 'A'

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