Industry News

First Horizon National Corp. has named FedEx Corp. executive Raj Subramaniam to its board of directors. First Horizon is the Memphis holding company that controls First Tennessee Bank. Subramaniam is executive vice president for global strategy, marketing and communications at FedEx."/>
BRIEF: FedEx exec joins First Horizon board [The Commercial Appeal, Memphis, Tenn.]
Ares Commercial Real Estate Corporation announced today that it will release financial results for the second quarter 2016 on Thursday, August 4, 2016 prior to the opening of the New York Stock Exchange. The Company invites all interested persons to attend its webcast/conference call at 12:00 p.m. on the same day to discuss its second quarter 2016 financial results. All interested parties are invited to participate via telephone or the live webcast, which will be..."/>
Ares Commercial Real Estate Corporation Schedules Earnings Release for the Second Quarter 2016
Sound Financial Bancorp, Inc. announced today that the Company’ s Board of Directors has authorized the repurchase of up to 50,000 shares or approximately 2% of the Company’ s outstanding shares. The shares may be purchased in the open market or in privately negotiated transactions, from time to time, over a twelve-month period depending upon market conditions and other factors.. Laurie Stewart, President and Chief Executive Officer of the Company, indicated..."/>
Sound Financial Bancorp, Inc. Announces Stock Repurchase Program
Prosperity Bancshares, Inc. ®, the parent company of Prosperity Bank ®, reported net income for the quarter ended June 30, 2016 of $68.071 million or $0.98 per diluted common share. Additionally, nonperforming assets remain low at 0.27% of second quarter average earning assets. "I am pleased to share the positive earnings we had for the second quarter of 2016, despite a large provision for credit losses and continued low interest rates."/>
Prosperity Bancshares, Inc.® Reports Second Quarter 2016 Earnings
Urstadt Biddle Properties Inc disclosed on Wednesday that it has closed its underwritten public offering of 2,750,000 shares of its class A common stock and received about USD64.0m of proceeds before offering expenses. Acting as sole book-running manager was Deutsche Bank Securities Inc.. The net proceeds will be used by the company to fully repay the outstanding borrowings under the company's existing credit facility, including borrowings incurred in connection with..."/>
Urstadt Biddle Properties closing offering of 2.8m class A common stock
UMB Financial Corporation revealed on Wednesday that Ram Shankar has been appointed as its chief financial officer. In this position, Shankar will be in charge of the overall financial management of the company, including financial planning and analysis, accounting, balance sheet management, investor relations, corporate investments, tax and board reporting. With almost two decades of industry experience, Shankar has specific expertise in financial planning, balance sheet..."/>
UMB Financial appoints Ram Shankar as CFO
Avidbank Holdings, Inc., a bank holding company and the parent company of Avidbank, an independent full-service commercial bank serving businesses and consumers in Northern California, announced unaudited consolidated net income of $3,299,000 for the second quarter of 2016 compared to $394,000 for the same period in 2015.. Year-to-Date and Second Quarter 2016 Financial Highlights. Net income was $4,507,000 in the first six months of 2016, compared to..."/>
Avidbank Holdings, Inc. Announces Net Income of $3,299,000 for the Second Quarter of 2016
UMB Financial Corporation has elected Tim Murphy to its board of directors, the company revealed on Wednesday. With almost three decades of experience in the trucking industry, Murphy is currently chief executive officer of Murphy-Hoffman Company, a private heavy and medium-duty truck dealer in North America. Also, Murphy has experience with organisational oversight, having served on many supplier councils to the trucking industry; served two terms as chairman of the North..."/>
UMB Financial's board elects Tim Murphy as director
Comerica Incorporated disclosed on Tuesday that its board of directors approved a quarterly cash dividend of USD0.23 per share on the company's common stock. This dividend which is an increase of 4.5% from that paid out earlier, will be paid on 1 October 2016 to shareholders of record on 15 September 2016.. Additionally, the board authorised an increase under the company's share repurchase programme by up to 10 m additional shares."/>
Comerica announces 4.5% higher dividend of USD0.23 per share for quarter
Camden National Corporation on Tuesday reported a net income of USD9.6m or USD0.92 diluted earnings per share for the second quarter of 2016, up compared to the net income of USD7.2m or USD0.96 diluted earnings per share in the same quarter of 2015.. Net interest income for the second quarter was USD28.5m, increased from the net interest income of USD20.6m in the same quarter last year. Non-interest income was USD10.6m, up from the non-interest income of USD6.3m in the second..."/>
Camden National reports 11% higher net income for Q2 2016 over Q2 2015
S&P Global reported on Tuesday that its board of directors authorised a regular common stock cash dividend of USD0.36 per share for the quarter. This dividend equals an annual rate of USD1.44 per share and will be paid on 12 September 2016, to shareholders of record on 26 August 2016. Also, the company said it has paid a dividend each year since 1937 and has increased its dividend annually for at least the last 43 years."/>
S&P Global announces dividend of USD0.36 per share for quarter
United Community Banks, Inc., reported that its Board of Directors approved an increase of one cent in the regular quarterly cash dividend to eight cents per common share. The dividend is payable October 5, 2016, to shareholders of record on September 15, 2016.. “With our solid performance in the second quarter, our Board has increased our dividend to eight cents per share beginning in the third quarter,” stated Jimmy Tallent, chairman and chief..."/>
United Community Banks, Inc. Announces Quarterly Cash Dividend Increase
Retail Opportunity Investments Corp., announced today that it has agreed to sell $200 million principal amount of 3.95% Senior Unsecured Notes in a private placement. The Company expects to issue the notes in September 2016. The notes will mature on the ten year anniversary of their issuance.."/>
Retail Opportunity Investments Corp. Agrees to Sell $200 Million of Senior Unsecured Notes Due 2026
BB&T Corporation board of directors approved a quarterly common stock dividend of USD0.30 per share, increased by 7% from that paid out earlier, the company disclosed on Tuesday. The dividend will be paid to shareholders of record at the close of business 12 August 2016, on 1 September 2016.. According to the company, this increase is consistent with its capital plan that the Federal Reserve did not object to in June 2016."/>
BB&T declares 7% higher common stock dividend of USD0.30 per share and five preferred stock dividends
KCG Holdings, Inc. today announced that it has entered into a definitive agreement to acquire Neonet Securities AB, an independent agency broker and execution specialist based in Stockholm, Sweden from its shareholders, Hay Tor Capital, KAS BANK and Cidron Delfi Intressenter Holding. Financial terms were not disclosed. Founded in 1996, Neonet provides a comprehensive suite of advanced algorithmic trading, smart order routing and..."/>
KCG To Acquire Neonet
Ellie Mae, a leading provider of innovative on-demand software solutions and services for the residential mortgage industry, announced today an enhanced integration with First American Title Insurance Company, one of the largest title insurers in the nation, to enable rate and fee quoting, title and settlement ordering, and collaboration on Closing Disclosure Forms directly from Ellie Mae's Encompass, all-in-one mortgage management solution."/>
Ellie Mae Expands Integration with First American Title Insurance Company to Streamline Title and Closing Experience
CNO Financial Group Inc on Tuesday reported that for the second quarter of 2016, it achieved net income of USD59.9m or USD0.33 per diluted share, up from the net income of USD46.8m or USD0.24 per diluted share in the second quarter of 2015.. The company's total revenues for the second quarter amounted to USD1.0bn, increased from the total revenues of USD959.5m in the same quarter last year. Through its subsidiaries, CNO develops, markets and administers health insurance, annuity,..."/>
CNO Financial reports higher net income in Q2 2016 year over year
Associated Banc-Corp revealed on Tuesday that its board of directors authorised a regular quarterly cash dividend of USD0.11 per share on the company's common stock. All shareholders of record at the close of business on 1 September 2016 will receive the dividend payment on 15 September 2016.. Additionally, the board declared a regular quarterly cash dividend of USD0.50 and USD0.3828125 per depositary share on the company's 8.00% series B and 6.125% series C perpetual..."/>
Associated Banc-Corp declares common and preferred stock dividends for quarter

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