Industry News

State Bank of India and largest private sector lender ICICI Bank continue to be domestic systemically important banks, the central bank said Thursday. The Reserve Bank of India classification means their collapse could have a cascading impact on the entire financial system and the economy. This is a repeat of a similar classification for both these lenders, made by the central bank in August last year."/>
RBI retains too big to fail status for SBI, ICICI Bank [Mint, New Delhi]
Stonegate Bank has agreed to acquire all operations of Florida-based bank Insignia Bank, the company said. The transaction is valued at approximately USD 36.5 m in the aggregate or USD 13.52 per share of Insignia common stock. Under the terms of the agreement, Insignia shareholders will be entitled to receive shares of SGBK common stock, based on the 20- trading-day average closing price of SGBK's common stock as of the second..."/>
Stonegate Bank to Acquire Florida’s Insignia Bank in USD 36.5m Deal
Morningstar announced on the restaurant's Facebook page Wednesday. "Due to an unfortunate equipment issue we are opting to postpone our grand opening until we can present you the BEST 1616 Bistro," the post reads. "We are just as disappointed as you are that we will not open this Friday.""/>
BRIEF: 1616 Gervais delays open date [The State (Columbia, S.C.)]
International Market Centers and Abbyson Living today announced the company's return to High Point Market. Abbyson will occupy a 22,000 square-foot showroom on the 11 th Floor of the IHFC building for the fall event, running from October 22-26, 2016. In addition to 300 new product designs, 8 full-home collections, 13 product categories and a full range of home furnishings resources, Abbyson is launching a series of new digital selling..."/>
Abbyson Living Returns to High Point for October Market; Brings 300 New Product Designs to 22,000 Square-Foot Showroom in IHFC
DNB Financial Corporation, parent of DNB First, National Association, one of the first nationally-chartered community banks to serve the greater Philadelphia region, has declared a cash dividend of $0.07 per common share for the third quarter of 2016, to shareholders of record on September 9, 2016. The cash dividend will be paid on September 20, 2016.. DNB Financial Corporation is a bank holding company whose bank subsidiary,..."/>
DNB Financial Corporation Declares a $0.07 Cash Dividend
Oracle's claims that the state violated the state's public records law when it withheld or delayed release of certain Cover Oregon-related emails from the software company. "Oracle contends that the public records law permits it to litigate how a public agency searches for or maintains documents and that somehow the Governor's office's efforts fall short,"..."/>
Oregon wins big early round against Oracle in Cover Oregon dispute [The Oregonian, Portland, Ore.]
Navigators Group, Inc. today announced a restructured leadership team for its global claims organization, effective September 1, 2016.. Glen Bronstein has been promoted to the newly created role of Global Chief Claims Officer. Bronstein joined Navigators to lead the U.S. claims organization in May 2013 and has held the role since."/>
Navigators Announces Global Claims Leadership 
OneMain Holdings Inc., America's premier consumer finance company offering responsible and transparent personal loan products, is proud to partner with Scholly, an easy-to-use mobile application that helps students find and apply for college scholarships. Together, they are offering OneMain customers free access to the Scholly app, where they can get the guidance and support they need to find college scholarships. “Attending college is an important step..."/>
OneMain Partners with Scholly to Help Students Attend College
Resource America, Inc., announced today Resource America stockholders, at a special meeting, approved the pending merger of Resource America with a subsidiary of C-III Capital Partners LLC. Approximately 80% of the shares of Resource America common stock that were outstanding as of the record date of June 13, 2016 approved the merger, and approximately 99.8% of the shares of Resource America common stock that were voted approved the merger."/>
Resource America Stockholders Approve Merger With C-III Capital Partners
Sun Life Financial, will present at the Scotiabank Financials Summit in Toronto, ON. To access the live audio webcast, please visit The webcast will be archived on Sun Life's website following the event."/>
Dean Connor, President and Chief Executive Officer, Sun Life Financial, to speak at the 2016 Scotiabank Financials Summit
Stock Yards Bancorp, Inc., parent company of Stock Yards Bank& Trust Company, with offices in the Louisville, Indianapolis and Cincinnati metropolitan markets, today announced that its management will participate in two upcoming investor conferences. On Wednesday, September 7, 2017, James A. Hillebrand, President, and T. Clay Stinnett, Chief Strategic Officer, will attend the Raymond James U.S. Bank Conference in Chicago and participate in meetings with..."/>
Stock Yards Bancorp to Participate in Two Upcoming Investor Conferences
MB Financial, Inc. has closed its acquisition of American Chartered Bancorp, Inc. in a stock and cash transaction valued at approximately USD 449 m, or USD 9.30 per share, MB said. The companies signed a definitive merger agreement last November. Founded in 1987, American Chartered is a privately-held commercial bank focused on serving Chicago's middle-market and emerging middle-market business community."/>
Chicago’s MB Financial Closes USD 449m Acquisition of American Chartered
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