Industry News

Bank of India on Monday stated that India's growth prospects in financial year 2016-17 are somewhat brighter than what they were in 2015-16, primarily due to better monsoon, as well as due to better money in the hands of government employees owing to the seventh pay commission. "A virtuous cycle of growth is possible, reinforced by anticipation of the coming benefits from reforms like the recently passed Goods and Services Tax legislation in Parliament,"..."/>
RBI's FY16 annual report: Five key takeaways [Mint, New Delhi]
Yes Bank launched unified payments interface based payments app on Monday. PhonePe allows users to link their bank accounts securely to their smartphone using National Payments Corporation of India's encrypted libraries."/>
Flipkart's PhonePe ties up with Yes Bank to launch UPI-based app [Mint, New Delhi]
Pointer Telocation Systems Ltd. has acquired a fleet services management company in Southern Brazil. Pointer will pay $6.5 million in cash for Cielo Telecom, which manages fleet customers covering 16,000 trucks. Cielo, founded in 1994, has a strong presence in the Brazilian truck sector."/>
Pointer buys Brazilian fleet management co for $6.5m [Globes, Tel Aviv, Israel]
First International Bank of Israel controlling interest partners sold 4% of the shares of FIBI Holdings Ltd., through which the bank is controlled, for NIS 80 million. The shares were sold for NIS 56.30, 3% lower than the stock exchange closing price yesterday. FIBI share prices have jumped over 10% in 2016, reflecting a market cap of NIS 2.06 billion."/>
Liberman family sells part of First Int'l Bank stake [Globes, Tel Aviv, Israel]
Jerusalem Economy Ltd., managed by CEO David Svida, today reported strong results for the second quarter and first half of 2016. The company reported NIS 51.4 million profit, compared with heavy NIS 116.7 million losses in the corresponding quarter last year. Jerusalem Economy's results are published one day after brothers Naty and Ofer Saidoff, former Israelis dealing with real estate in the US, made an unexpected proposal to acquire 29% of the..."/>
As Saidoff bros circle, Jerusalem Economy posts strong quarter [Globes, Tel Aviv, Israel]
Lakeview Hotel Investment Corp is pleased to report its financial results for the Quarter ended June 30, 2016. The following comments in regard to the financial results should be read in conjunction with the June 30, 2016 financial statements and Management Discussion and Analysis which are available on the SEDAR website www.sedar.com. Lakeview Hotel Investment Corp. continues to face a challenging operating environment with a struggling..."/>
Lakeview Hotel Investment Corp Announces Second Quarter Results
Summit Industrial Income REIT announced today that it has entered into an agreement to acquire a 210,727 square foot light industrial property in London, Ontario for a purchase price of approximately $16.6 million, generating a capitalization rate of approximately 7.7%. The property is occupied by a single tenant under very strong covenants with 7.5 years remaining on the lease. Built in 2009, this modern building has numerous features in demand in..."/>
Summit Industrial Income REIT Announces London, Ontario Acquisition and Accretive Financing for Calgary, Alberta Property Purchase
Standard Financial Corp., the parent holding company for Standard Bank, PaSB and Allegheny Valley Bancorp, Inc., the parent holding company for Allegheny Valley Bank of Pittsburgh, jointly announced today the signing of a definitive merger agreement to form a partnership of their financial institutions that will result in a combined community banking franchise with total assets of nearly $1.0 billion and 18 branches..."/>
Standard Financial Corp. and Allegheny Valley Bancorp, Inc. Announce Merger of Equals Transaction
Preferred Apartment Communities of Atlanta has paid $48,125,000 for the 290- unit Sorrel Luxury Apartments, near the intersection of Atlantic and Kernan boulevards. The complex opened last year and is one of two built by Davis Development of Atlanta on property it purchased from Sleiman Enterprises, right behind Sleiman's Atlantic North retail development."/>
BRIEF: Apartment complex off Atlantic sells for $48.1 million [The Florida Times-Union, Jacksonville]
Ventas, Inc. said today that its Board of Directors declared a regular quarterly dividend of $0.73 per share, payable in cash on September 30, 2016 to stockholders of record on September 15, 2016. The dividend is the third quarterly installment of the Company’ s 2016 annual dividend. The Company intends to increase its dividend in the fourth quarter 2016, subject to approval by its Board of Directors."/>
Ventas Declares Regular Quarterly Dividend of $0.73 Per Share
Noah Holdings Limited, a leading wealth and asset management service provider with a focus on global services for high net worth individuals and enterprises in China, today announced the appointment of Mr. Shang-yan Chuang to the position of Chief Financial Officer, replacing Ms. Ching Tao, effective September 1, 2016."/>
Noah Holdings Limited Appoints Shang-yan Chuang as Chief Financial Officer and Ching Tao as Chief Executive Officer of Noah US LLC
RE/MAX Commercial ®, part of the world's most productive real estate network as measured by total residential transaction sides, has been ranked in National Real Estate Investor magazine's Top Brokers list for the sixth consecutive year. Only 16 of the 61 commercial real estate brokerage firms, including RE/MAX Commercial, ranked in the 2016 Top Brokers list posted more than $10 billion in transactions in 2015.. "RE/MAX Commercial has..."/>
RE/MAX Commercial Again Ranked in Annual Industry Survey
MGIC Investment Corporation, mourns the loss of William H. Lacy, retired chairman and chief executive officer, who passed away on August 28, 2016 of respiratory failure. On behalf of MGIC, non-executive chairman Curt Culver said:. "It is with great sadness that we announce today the passing of my friend and colleague, Bill Lacy."/>
MGIC Mourns Former Chairman and CEO, William Lacy
Banc of California, a banking brand started in 2013 after the merger of several small institutions, is linking up with the Los Angeles Football Club."/>
7 reasons companies put their names on stadiums [The Orange County Register]
Jernigan Capital, Inc. announced today that on August 25, 2016, the Company closed an $11 million development investment in Northglenn, CO, a submarket in the Denver MSA. This multi-story 879 unit facility with 86,657 net rentable square feet will provide state-of-the-art, all climate-controlled storage to a high-income underserved area of suburban Denver. The investment was made through Storage Lenders I, LLC, the Company’ s $122.2 million joint venture with..."/>
Jernigan Capital, Inc. Announces New Investment in Denver MSA
CYS Investments, Inc. today announced that Kevin E. Grant, CFA, the Company's CEO and President, will deliver a presentation at the Barclays Global Financial Services Conference at the Sheraton New York Times Square Hotel on Monday, September 12, 2016 at approximately 12:00 p.m.. The presentation will be webcast live and can be accessed through the CYS website at www.cysinv.com. A replay of the presentation will be available within 24 hours of the live presentation and..."/>
CYS Investments, Inc. to Present at Barclays Global Financial Services Conference
Financial Institutions, Inc. announced today that its Board of Directors has approved a quarterly cash dividend of $0.20 per outstanding common share. The Company also announced dividends of $0.75 per share on Series A 3% preferred stock and $2.12 per share on series B-1 8.48% preferred stock. All dividends are payable October 3, 2016 to shareholders of record as of September 12, 2016.."/>
Financial Institutions, Inc. Announces Quarterly Dividend
Colony Starwood Homes, a leading single-family rental real estate investment trust, today announced that it has completed the sale of a portfolio of 1,675 non-performing loans for a total sale price of $265 million. With the sale, the Company has substantially completed its exit from the NPL business, consistent with its previously communicated strategic plan to do so. The Company’ s book value for the NPLs included in this sale was approximately $259 million..."/>
Colony Starwood Homes Announces Sale of Non-Performing Loan Portfolio
FBL Financial Group, Inc. today announced that James P. Brannen, Chief Executive Officer, and Donald J. Seibel, Chief Financial Officer, will discuss the company at the Keefe, Bruyette& Woods 2016 Insurance Conference in New York, NY on Wednesday, September 7, 2016 at 8:45 a.m. Eastern Time. Investors may access the webcast on FBL's website at www.fblfinancial.com. FBL Financial Group is a holding company whose purpose is to protect livelihoods and futures."/>
FBL Financial Group to Present at Keefe, Bruyette & Woods Insurance Conference
IF Bancorp, Inc. the holding company for Iroquois Federal Savings and Loan Association, announced net income of $3.6 million, or $0.96 per basic share and $0.95 per diluted share for the fiscal year ended June 30, 2016, compared to $3.3 million, or $0.83 per basic and diluted share for the fiscal year ended June 30, 2015. The Company also announced net income of $1.1 million, or $0.29 per basic and diluted share for the three months ended June 30, 2016, compared to..."/>
IF Bancorp, Inc. Announces Results for Fourth Quarter and Fiscal Year Ended June 30, 2016
Regional Management Corp., a diversified consumer finance company, announced today that it has amended its senior revolving credit facility agreement. The committed line under the credit facility has increased to $585 million from its previous amount of $538 million, and the maturity date has been extended from September 2018 to August 2019."/>
Regional Management Corp. Increases Availability Under Senior Revolving Credit Facility to $585 Million

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