Industry News

Max Financial Services Ltd have cleared a proposal to pay a Rs850 crore non-compete fee to Analjit Singh and other promoters of the Max group. This was a pre-requisite to the firm's three-way merger with its unit Max Life Insurance Co. Ltd and HDFC Life Insurance Co. Ltd.. Around 65% of the votes polled were in favour of the resolution to pay the non-compete fee, said a Max Financial notice to the stock exchanges on Tuesday."/>
HDFC Life-Max merger: Max Financial shareholders agree to non-compete fee [Mint, New Delhi]
Baltimore takes up taxes on Airbnb bookings [The Baltimore Sun]
Summit State Bank, has become the new CEO of Summit Bank, the Oakland bank announced Tuesday. The two banks are distinct, though similar in name. Duryea led the Santa Rosa bank for eight years before resigning in April under pressure from its largest shareholder, board member Marshall Reynolds, who wanted better growth."/>
BRIEF: Tom Duryea becomes CEO at Summit Bank in Oakland [The Press Democrat, Santa Rosa, Calif.]
Outerwall, best known for its Redbox DVD kiosks, became a private company Tuesday after the completion of its acquisition by private equity firm Apollo Global Management. Erik Prusch, CEO of the Bellevue company, is departing as part of the deal, which was first announced in July. The acquisition is valued at $1.6 billion, or $52 per share."/>
BRIEF: Outerwall closes deal that takes it private [The Seattle Times]
Valley Commerce Bancorp, headquartered in Visalia, plans to merge with CVB Financial Corp. of Ontario. Valley Commerce Bancorp is the parent company of Valley Business Bank, which operates branches in Fresno, Visalia, Tulare and Woodlake. CVB Financial is the holding company for Citizens Business Bank."/>
SoCal company to acquire Visalia-based Valley Business Bank [The Fresno Bee]
Goldman Sachs BDC, Inc. announced today that it has agreed to sell in an offering of $100 million aggregate principal amount of 4.50% convertible notes due 2022. The Company has also granted the initial purchasers an option to purchase up to an additional $15 million aggregate principal amount of the Convertible Notes to cover over-allotments, if any. The Convertible Notes will be offered and sold only to qualified institutional buyers pursuant to Rule 144 A under the..."/>
Goldman Sachs BDC, Inc. Prices $100 Million Offering of Unsecured Convertible Notes
First Internet Bancorp, the parent company of First Internet Bank, today announced the pricing of a public offering of $25 million aggregate principal amount of its 6.00% Fixed-to-Floating Rate Subordinated Notes due 2026. The Notes will bear interest at a fixed rate of 6.00% per year to, but excluding September 30, 2021. From and including September 30, 2021 and through maturity or earlier redemption, the interest rate on the Notes will reset quarterly to an..."/>
First Internet Bancorp Announces Pricing of $25 Million of Subordinated Notes
First Northwest Bancorp, the holding company for First Federal Savings and Loan Association of Port Angeles, today announced that its Board of Directors authorized the repurchase of up to 10% of the Company’ s common stock, or approximately 1,300,756 shares. The Company will purchase the shares from time to time in the open market or through privately negotiated transactions over a one-year period depending on market conditions, the capital..."/>
First Northwest Bancorp Announces Adoption of a Stock Repurchase Plan
Investors Bancorp, Inc., announced that it expects to report earnings for the third quarter ended September 30, 2016, on Thursday, October 27, 2016 at approximately 5:00 p.m. Eastern Time. A copy of the news release will be immediately available on its website, www.myinvestorsbank.com. The Company also announced that it will host an earnings conference call on October 28, 2016 at 11:00 a.m.."/>
Investors Bancorp, Inc. Announces Date for Third Quarter Earnings Conference Call
Itau CorpBanca Files Material Event Notice
Commerce Union Bancshares, Inc., parent of Reliant Bank, announced today that the company has been named a member of the Sandler O’ Neill Sm-All Stars Class of 2016, a list of 27 top performing publicly traded small-cap banks and thrifts in the country. “We are very excited to be named as a new member of the Sm-All Stars. It is such an honor to hold this elite status with the prestigious Sandler O’ Neill Sm-All Stars,” commented Ron DeBerry, Chairman and Chief Executive..."/>
Commerce Union Bancshares, Inc. Named 2016 Bank & Thrift “Sm-All Star” by Sandler O’Neill + Partners
CoBiz Financial's third quarter earnings release on Thursday, Oct. 20, 2016, you are invited to listen to the company's conference call on Friday, Oct. 21, 2016, at 11:00 am ET with Steve Bangert, CoBiz chairman and CEO. CoBiz Financial, is a multi-billion dollar financial services company that serves the complete financial needs of businesses, business owners and professionals in Colorado and Arizona. The company's..."/>
CoBiz Financial Invites You to Join Its Third Quarter 2016 Conference Call
OceanFirst Financial Corp., the holding company for OceanFirst Bank, today announced that it will issue its earnings release for the quarter ended September 30, 2016 on Wednesday, October 26, 2016 after the market close. Management will then conduct a conference call at 9:00 a.m. Eastern Time, on Thursday, October 27, 2016, to discuss highlights of the Company's third quarter operating performance.. The direct dial number for the call is..."/>
OceanFirst Financial Corp. Schedules Earnings Conference Call
Camden National Corporation announced today that the board of directors of the Company declared a dividend of $0.20 per share payable on October 31, 2016, for shareholders of record on October 17, 2016.. The declared dividend for the quarter has been adjusted to reflect the three-for-two split of the Company's common stock payable in the form of a stock dividend on September 30,..."/>
Camden National Corporation's Board Declares Quarterly Dividend
Coty Inc. will replace Diamond Offshore Drilling Inc. in the S&P 500, and Diamond Offshore Drilling will replace Polycom Inc. in the S&P MidCap 400. Siris Capital Group acquired Polycom in a deal completed today."/>
Coty Set to Join the S&P 500; Diamond Offshore Drilling to Join S&P MidCap 400; Tile Shop to Join S&P SmallCap 600
Blackstone Prices 10-Year Senior Notes Offering
First Commonwealth Financial Corporation today announced that its banking subsidiary, First Commonwealth Bank, has received final approval from all necessary regulatory agencies for its pending acquisition of 13 branches in Canton and Ashtabula, Ohio from FirstMerit Bank, NA. The branches are being sold in connection with the previously announced acquisition of FirstMerit Corporation by Huntington Bancshares Incorporated. The divestiture is in..."/>
First Commonwealth Bank Receives Final Regulatory Approval for Acquisition of 13 FirstMerit Bank Branches

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