Silicon Valley Bank

Five Star Bancorp Announces the Hiring of San Francisco Bay Area Banking Professional and the Full Exercise and Closing of Underwriters’ Option to Purchase Additional Shares in the Company’s Underwritten Public Offering

Retrieved on: 
Mittwoch, April 10, 2024
Sale, University, Prospectus, Investment, Star Bank, Economics, Security (finance), Silicon Valley Bank, Signature Bank, Bank of America, Wachovia, Form, Exercise, Senior, Flagstar Bank, California Street, Bank, Keefe, Bruyette & Woods, S-3, Five Star Bank, First Republic Bank, San Francisco Bay, Telephone, Growth, Wells Fargo

Grafeld will help advance Five Star Bank’s expansion strategy in the San Francisco Bay Area with personalized, concierge commercial banking service in Marin County.

Key Points: 
  • Grafeld will help advance Five Star Bank’s expansion strategy in the San Francisco Bay Area with personalized, concierge commercial banking service in Marin County.
  • “Casey Grafeld is an excellent addition to Five Star Bank’s San Francisco Bay Area team of highly experienced commercial banking professionals.
  • Adding Casey to our team exemplifies our commitment to expansion and client service in the San Francisco Bay Area,” said Five Star Bank San Francisco Bay Area Region President, DJ Kurtze.
  • I also am delighted to extend Five Star Bank’s Bay Area presence and personalized commercial banking services to Marin County, where I’ve lived for 25 years,” said Grafeld.

Top Tier Authentics Appoints Eight Inaugural Board of Advisors, Bolstering First-Ever Experiential Authenticity Platform

Retrieved on: 
Mittwoch, April 17, 2024
Entertainment, Sports, Online Retail, Other Retail, General Sports, Licensing (Sports), Specialty, Other Sports, General Entertainment, Other Entertainment, Retail, Licensing (Entertainment), University, Incubator, Element, Sport, TTA, FaZe Clan, Georgia Bulldogs, University of Tennessee, Silicon Valley Bank, Phoenix Suns, NBA, Timothy, Michigan Wolverines, Real-time, Entrepreneurship, TRA, MEL Magazine, Partner (business rank), Silicon, Tennessee Volunteers, Commerce, Athlete, Trust, Multimedia, Marketing, Assistant, CIO, Y Combinator, UFC, Karmaloop, Growth, Financial Times, NCAA

Top Tier Authentics (TTA), transforming how brands, athletes and artists authenticate products and create new consumer experiences, has unveiled its inaugural advisory board.

Key Points: 
  • Top Tier Authentics (TTA), transforming how brands, athletes and artists authenticate products and create new consumer experiences, has unveiled its inaugural advisory board.
  • (Graphic: Business Wire)
    TTA developed the world’s first Experiential Authenticity Platform, enabling instant verification of products, artworks, and collectibles, along with immersive digital experiences, exclusive benefits, and interactive features.
  • He ranks as one of the best players for Duke University’s Blue Devils and was key to the team’s 2015 championship win.
  • Similarly, Top Tier Authentics innovates the consumer experience, forging new paths for connection, interaction, and business opportunities.”

Laura Cushing Announced as New Chief Human Resources Officer of Pacific Life

Retrieved on: 
Montag, April 15, 2024
Professional Services, Business, Insurance, Finance, Asset Management, Personal Finance, Human resources, University, Loews Corporation, Culture, Life, JPMorgan Chase, Psychology, Silicon, Pacific Life, Silicon Valley Bank, Villanova University, CHRO, Management

Pacific Life today announced Laura Cushing has been hired as the new chief human resources officer (CHRO) of Pacific Life, effective April 23, 2024.

Key Points: 
  • Pacific Life today announced Laura Cushing has been hired as the new chief human resources officer (CHRO) of Pacific Life, effective April 23, 2024.
  • She will report to President and CEO Darryl Button and will sit on the company’s management committee.
  • As CHRO, Ms. Cushing will be responsible for all aspects of Pacific Life’s global Human Resources organization and strategy, including talent management, leadership development, and compensation and benefits.
  • “Throughout her career, Laura has demonstrated a deep understanding of how an organization’s culture can drive engagement, innovation, and overall success,” said Darryl Button, president and CEO, Pacific Life.

Redbud-Sponsored Missouri Startup Weekend Leaves Solvtax Poised to Be Next Billion-Dollar Alumni

Retrieved on: 
Montag, April 15, 2024
Fintech, Professional Services, Finance, University, WIN, Mentorship, Veterans United Home Loans, SVB, Silicon Valley Bank, Silicon, Music, Multimedia, Investment, Video game

Redbud-sponsored Missouri Startup Weekend ends with Solvtax as the winner.

Key Points: 
  • Redbud-sponsored Missouri Startup Weekend ends with Solvtax as the winner.
  • View the full release here: https://www.businesswire.com/news/home/20240412357159/en/
    First place winner of 2024 Missouri Startup Weekend, Solvtax.
  • (Photo: Business Wire)
    Ears perked up throughout the audience of Missouri Startup Weekend (MOSW) when Solvtax presented their winning pitch: a solution for avoiding financial implications through better business personal property tax management.
  • Missouri Startup Weekend , co-chaired by Brett Calhoun, Sas Cairnes, and Maria Heyen, is in its 12th year and was hosted in Columbia from April 5-7th.

Decomposing systemic risk: the roles of contagion and common exposures

Retrieved on: 
Dienstag, April 23, 2024
Tao, CIBC, Tax, RWA, Risk, European Systemic Risk Board, Research Papers in Economics, Contagion, RT, The Big Six, NBC, International, Shock, Observation, Bank of Canada, HTC, European Economic Association, The Washington Post, Great, JPMorgan Chase, Paper, GM, Environment, Political economy, Journal of Financial Economics, COVID-19, Perception, BNS, Website, Silicon, IAT, Cifuentes, Probability, Balance sheet, RAN, Medical classification, Algorithm, Information technology, Quarterly Journal of Economics, LN, Nature, European Journal, Royal Bank of Canada, Technical report, Journal of Political Economy, Equitable Bank, Bankruptcy, RAI, PDF, Private, ECB, Policy, CHS, Supercapacitor, Social science, Journal of Financial Stability, Intelligence (journal), Elsevier, Home, Cambridge University Press, Journal, Springer Science+Business Media, Research, Classification, Regulation, News, EQB, Credit, Literature, AIK, European Central Bank, COVID, SVAR, Section 5, Management science, DRA, M4, VL, National bank, Government, ISSN, BMO, Panel, International Financial Reporting Standards, BIS, FIS, Basel III, Commerce, Scotiabank, C32, Econometric Society, Interbank, Fraud, Section 4, Bank, Schedule, VAR, Section 3, The Journal of Finance, RBC, Volcanic explosivity index, Fire, Wassily Leontief, Financial economics, Metric, Section 2, L14, Central bank, Superintendent, Bank of Montreal, Kronecker, BOC, Lithium, BCBS, Sale, Macroeconomic Dynamics, Christophe, CWB, LBC, NHA, Imperial Bank, Private equity, Quarterly Journal, National Bank of Canada, C51, Canadian Western Bank, Currency crisis, JEL classification codes, Victor Drai, L.1, MFC, Silicon Valley Bank, EB, Laurentian Bank of Canada, Federal, RA1, Series, W0, FEVD, Journal of Econometrics, Aggregate, University, FRB, MB, Financial institution, Element, Health, Book, Angels & Airwaves, Common, OSFI, GFC, Reproduction, K L, Systematic, Housing, G21, Home Capital Group, Communications satellite

Abstract

Key Points: 
    • Abstract
      We evaluate the effects of contagion and common exposure on banks? capital through
      a regression design inspired by the structural VAR literature and derived from the balance
      sheet identity.
    • Contagion can occur through direct exposures, fire sales, and market-based
      sentiment, while common exposures result from portfolio overlaps.
    • First, we document that contagion varies in time, with the highest levels
      around the Great Financial Crisis and lowest levels during the pandemic.
    • Our new framework complements
      traditional stress-tests focused on single institutions by providing a holistic view of systemic risk.
    • While existing literature presents various contagion narratives, empirical findings on
      distress propagation - a precursor to defaults - remain scarce.
    • We decompose systemic risk into three elements: contagion, common exposures, and idiosyncratic risk, all derived from banks? balance sheet identities.
    • The contagion factor encompasses both sentiment- and contractual-based elements, common exposures consider systemic
      aspects, while idiosyncratic risk encapsulates unique bank-specific risk sources.
    • Our empirical analysis of the Canadian banking system reveals the dynamic nature of contagion, with elevated levels observed during the Global Financial Crisis.
    • In conclusion, our model offers a comprehensive lens for policy intervention analysis and
      scenario evaluations on contagion and systemic risk in banking.
    • This
      notion of systemic risk implies two key components: first, systematic risks (e.g., risks related
      to common exposures) and second, contagion (i.e., an initially idiosyncratic problem becoming
      more widespread throughout the financial system) (see Caruana, 2010).
    • In this paper, we decompose systemic risk into three components: contagion, common exposures, and idiosyncratic risk.
    • First, we include contagion in three forms: sentiment-based contagion, contractual-based
      contagion, and price-mediated contagion.
    • In this context,
      portfolio overlaps create common exposures, implying that bigger overlaps make systematic
      shocks more systemic.
    • With the COVID-19 pandemic starting
      in 2020, contagion drops to all time lows, potentially related to strong fiscal and monetary
      supports.
    • That is, our
      structural model provides a framework for analyzing the impact of policy interventions and
      scenarios on different levels of contagion and systemic risk in the banking system.
    • This provides a complementary approach to
      seminal papers that took a structural approach to contagion, such as DebtRank Battiston et al.
    • More generally, the literature on networks and systemic risk started with Allen and Gale
      (2001) and Eisenberg and Noe (2001).
    • The matrix is structured as follows:
      1

      In our model, we do not distinguish between interbank liabilities and other types of liabilities.

    • In other words, we can and aim to estimate different degrees
      of contagion per asset class, i.e., potentially distinct parameters ?Ga .
    • For that, we build three major
      metrics to check: average contagion, average common exposure, and average idiosyncratic risk.
    • N i j

      et ,
      Further, we define the (N ?K) common exposure matrix as Commt = [A

      (20)

      et ]diag (?C
      ?L

      such that average common exposure reads,
      average common exposure =

      1 XX
      Commik,t .

    • N i j

      (22)

      20

      ? c ),

      The three metrics?average contagion, average common exposure, and average idiosyncratic risk?provide a comprehensive framework for understanding banking dynamics.

    • Figure 4 depicts the average level of risks per systemic risk channel: contagion risk, common exposure, and idiosyncratic risk.
    • Figure 4: Average levels of contagion (Equation (20)), common exposure (Equation (21)), and idiosyncratic risk
      (Equation (22)).
    • The market-based contagion is the contagion due to
      investors? sentiment, and the network is an estimate FEVD on volatility data.
    • For most of
      the sample, we find that contagion had a bigger impact on the variance than common exposures.

Council of Federal Home Loan Banks Applauds GAO Report Findings

Retrieved on: 
Montag, April 8, 2024
Deposit insurance, Signature, First Republic Bank, Congress, Federal Reserve Bank, Federal Home Loan Banks, Communication, FDIC, Federal Deposit Insurance Corporation, SVB, Federal, Council, Safety, Federal Housing Finance Agency, Federal Reserve, Silicon Valley Bank, Signature Bank, Bank

WASHINGTON, April 08, 2024 (GLOBE NEWSWIRE) -- The Council of Federal Home Loan Banks, the public voice of the Federal Home Loan Bank System (FHLBank System), today applauded the findings of a recently published report from the Government Accountability Office (GAO) on the actions of the FHLBanks during the spring 2023 bank failures that disrupted financial markets.

Key Points: 
  • WASHINGTON, April 08, 2024 (GLOBE NEWSWIRE) -- The Council of Federal Home Loan Banks, the public voice of the Federal Home Loan Bank System (FHLBank System), today applauded the findings of a recently published report from the Government Accountability Office (GAO) on the actions of the FHLBanks during the spring 2023 bank failures that disrupted financial markets.
  • Additional highlights from the GAO report include:
    Federal financial regulators did not identify FHLBank advances as a factor of concern in any of the three banks’ safety and soundness.
  • Starting on March 9, 2023, the FHLBanks and the Federal Reserve Banks of New York and San Francisco made several efforts, in accordance with their policies and procedures, to help the failing banks pledge collateral to obtain liquidity from the Federal Reserve Banks.
  • It is also worth noting that the GAO report affirms that advances provided to the failed banks had a very limited, if any, direct impact on the Deposit Insurance Fund.”

IMUNON Reports 2023 Financial Results and Provides Business Update

Retrieved on: 
Donnerstag, März 28, 2024
Transfer, Ovarian cancer, Immunotherapy, Patient, Lung, Vaccine, Good manufacturing practice, Sale, CMC, IND, Bangladesh Technical Education Board, IPR, Investment, Clinical trial, Neoplasm, Research, Primate, DNA, NOL, MD Anderson Cancer Center, Trial of the century, ITT, Safety, MRD, Interim, Silicon Valley Bank, Vaccination, Food, CMOS, Elsevier, CD8, Drug discovery, SVB, CRS, University, Death, SARS-CoV-2, Earnings call, Lassa mammarenavirus, PFS, Immunoglobulin G, FDA, OS, CD4, Temperature, Progression-free survival, COVID-19, Mouse, Messenger, Human, Wistar Institute, Hospital

LAWRENCEVILLE, N.J., March 28, 2024 (GLOBE NEWSWIRE) -- IMUNON, Inc. (NASDAQ: IMNN), a clinical-stage drug-development company focused on developing DNA-mediated immuno-oncology therapies and next-generation vaccines, today reported financial results for the year ended December 31, 2023. The Company also provided an update on its clinical development programs with IMNN-001, a DNA-based interleukin-12 (IL-12) immunotherapy in Phase 2 clinical development for the treatment of first-line, locally advanced-stage ovarian cancer, and on its PlaCCine modality, a proprietary mono- or multi-cistronic DNA plasmid and a synthetic DNA delivery technology for the expression of pathogen antigens in preclinical studies for the development of next-generation vaccines.

Key Points: 
  • “We remain on track to report topline results mid-year from the OVATION 2 Study with IMNN-001 in advanced ovarian cancer.
  • In September 2023, the Company announced interim PFS and OS data with IMNN-001 in its OVATION 2 Study.
  • The Company is hosting a conference call to provide a business update, discuss 2023 financial results and answer questions at 10:00 a.m. Eastern time today.
  • To participate in the call, please dial 866-777-2509 (Toll-Free/North America) or 412-317-5413 (International/Toll) and ask for the IMUNON 2023 Earnings Call.

The South End Technology Center and The Mary J Harris Foundation Partner to Further Mel King's Vision

Retrieved on: 
Dienstag, April 9, 2024
Health, Health literacy, Attention, Partnership, MIT, SVB, Patient, City, Social Problems, Quality of life, MBA, Silicon, Silicon Valley Bank

BOSTON, April 9, 2024 /PRNewswire/ -- The South End Technology Center and the Mary J. Harris Foundation, Inc. announced their commitment to providing technology education and access with specific attention towards health and life sciences. Underserved populations historically suffer the brunt of systemic imbalances and disparities. In areas faced with wide social determinants of health, a center of support is necessary for a quality of life. Their partnership follows the vision of utilizing innovative technology and digital strategies to address complex social problems and drive systemic change.

Key Points: 
  • BOSTON, April 9, 2024 /PRNewswire/ -- The South End Technology Center and the Mary J. Harris Foundation, Inc. announced their commitment to providing technology education and access with specific attention towards health and life sciences.
  • In areas faced with wide social determinants of health, a center of support is necessary for a quality of life.
  • Their partnership follows the vision of utilizing innovative technology and digital strategies to address complex social problems and drive systemic change.
  • The South End Technology Center founded by the late MIT Professor, Political figure and Activist Mel King, originated as a space to start the gateway for equal access into the technology era.

Parafin Secures $125 Million Warehouse Facility from Silicon Valley Bank and Trinity Capital Inc.

Retrieved on: 
Dienstag, April 9, 2024
First Citizens BancShares, Software as a service, Growth, SVB, SAN, Fintech, Silicon, API, Silicon Valley Bank, Warehouse, DoorDash, Bank

SAN FRANCISCO, April 9, 2024 /PRNewswire/ -- Silicon Valley Bank (SVB), a division of First Citizens Bank, along with lending partner Trinity Capital Inc. ("Trinity"), today announced that it has provided a $125 million warehouse facility to fintech infrastructure startup, Parafin. Recently named to the 2024 Fintech Innovation 50, Parafin helps companies, such as marketplaces, vertical SaaS, and payment processors, launch and embed financial services for their sellers.

Key Points: 
  • Financing provided by SVB's National Fintech Practice and Trinity Capital Inc. (Nasdaq: TRIN)
    SAN FRANCISCO, April 9, 2024 /PRNewswire/ -- Silicon Valley Bank (SVB) , a division of First Citizens Bank, along with lending partner Trinity Capital Inc. ("Trinity"), today announced that it has provided a $125 million warehouse facility to fintech infrastructure startup, Parafin .
  • Provided by SVB's national fintech practice , the financing facility will support Parafin in providing capital to businesses on premier platforms such as DoorDash and Amazon.
  • Parafin employs a machine learning-based underwriting model based on sales performance to determine eligibility and create personalized financing offers.
  • "We're proud to partner with the teams at Parafin and SVB to provide this warehouse financing facility," said Steven Lambe, Managing Director, Warehouse Lending at Trinity Capital.

Mount Logan Capital Inc. Announces Fourth Quarter and Fiscal 2023 Financial Results

Retrieved on: 
Donnerstag, März 14, 2024
Sentinel, NEO, CLO, American Express, Income Tax Act, PwC, Growth, MLC, Insurance, EPS, Business, Acquisition, University, Galaxy Digital, Commerce, TSX, Investment, Silicon, Silicon Valley Bank, Policy, Corporation, Cryptocurrency

TORONTO, March 14, 2024 (GLOBE NEWSWIRE) -- Mount Logan Capital Inc. (NEO: MLC) (the “Company” or “Mount Logan”) announced today its financial results for the fourth quarter and fiscal year ended December 31, 2023. All amounts are stated in United States dollars, unless otherwise indicated. The financial results have been adjusted for the adoption of IFRS 17 Insurance Contracts (“IFRS 17”) which became effective January 1, 2023.

Key Points: 
  • The financial results have been adjusted for the adoption of IFRS 17 Insurance Contracts (“IFRS 17”) which became effective January 1, 2023.
  • Fourth quarter asset management revenues excludes $1.3 million of management fees associated with Mount Logan’s management of the assets of Ability Insurance Company (“Ability”), a wholly-owned subsidiary of the Company, during the fourth quarter of 2023, which increased by 82% as compared to the fourth quarter 2022 of $0.7 million.
  • Ability’s total assets managed by Mount Logan increased to $537.1 million for fiscal 2023, up $200.2 million from fiscal 2022 managed assets of $336.9 million.
  • Adjusted basic EPS was $(0.44) for the 2023 fiscal year, a decrease of $(2.74) from $2.30 for the 2022 fiscal year.