Subprime mortgage crisis

Planet Financial Group, LLC Subsidiaries Post Gains in Asset Management, Servicing and Originations

Retrieved on: 
Thursday, July 22, 2021

MERIDEN, Conn., July 22, 2021 /PRNewswire/ --In the second quarter of 2021, Planet Financial Group, LLC, parent of national mortgage lender and servicer Planet Home Lending, LLC and Planet Management Group, LLC , continued to report steady growth in its servicing, correspondent, retail lending and private-client channels.

Key Points: 
  • MERIDEN, Conn., July 22, 2021 /PRNewswire/ --In the second quarter of 2021, Planet Financial Group, LLC, parent of national mortgage lender and servicer Planet Home Lending, LLC and Planet Management Group, LLC , continued to report steady growth in its servicing, correspondent, retail lending and private-client channels.
  • "The Planet Financial Group family of companies' multichannel business model delivered another quarter of strong results in the second quarter of 2021," said Michael Dubeck, CEO and President of Planet Financial Group.
  • Planet Home Lending's total origination volume reached $6.8 billion in Q2 2021, up 77% from $3.9 billion in Q2 2020.
  • Planet Financial Group, LLC, Meriden, Conn., is the parent of Planet Home Lending, LLC and Planet Management Group, LLC,which also does business under the name Planet Renovation Capital.

Zevia Announces Pricing of Initial Public Offering

Retrieved on: 
Thursday, July 22, 2021

Zevia PBC (NYSE:ZVIA) today announced the pricing of its initial public offering of 10,700,000 shares of its Class A common stock at a public offering price of $14.00 per share.

Key Points: 
  • Zevia PBC (NYSE:ZVIA) today announced the pricing of its initial public offering of 10,700,000 shares of its Class A common stock at a public offering price of $14.00 per share.
  • In addition, Zevia has granted the underwriters a 30-day option to purchase up to an additional 1,605,000 shares of its Class A common stock at the initial public offering price, less underwriting discounts and commissions.
  • The offering is expected to close on or about July 26, 2021 subject to satisfaction of customary closing conditions.
  • Goldman Sachs & Co. LLC, BofA Securities and Morgan Stanley are acting as lead book-running managers for the proposed offering.

AI Global Investors Partners with Veteran Team of Goldman Alums

Retrieved on: 
Thursday, July 22, 2021

NEW YORK, July 22, 2021 /PRNewswire-PRWeb/ -- Asset management firm AI Global Investors (USA) LLC ("AI") today announced the onboarding of Anchorvest Capital ("Anchorvest") to AI's New York-based asset management platform.

Key Points: 
  • NEW YORK, July 22, 2021 /PRNewswire-PRWeb/ -- Asset management firm AI Global Investors (USA) LLC ("AI") today announced the onboarding of Anchorvest Capital ("Anchorvest") to AI's New York-based asset management platform.
  • "We are proud to work with such an accomplished and highly pedigreed team," said Lawrence Newhook, CEO of AI.
  • The core team consists of talent from blue chip firms including Point72, Balyasny Asset Management, Goldman Sachs, and Morgan Stanley.
  • AI Media, AI Global Investors (USA) LLC, 646.854.5900, [email protected]

Citi Drives Liquidity Innovation with the Launch of Real-Time Liquidity Sharing

Retrieved on: 
Thursday, July 22, 2021

Developed in response to client demand for advanced liquidity management technology, Citis latest innovation enables treasurers to manage intraday liquidity in real-time.

Key Points: 
  • Developed in response to client demand for advanced liquidity management technology, Citis latest innovation enables treasurers to manage intraday liquidity in real-time.
  • With Citi Real-Time Liquidity Sharing, treasury teams can mobilize liquidity and fund intraday payments across multiple accounts and entities in real-time, without having to bother with physical funding of the accounts.
  • With the launch of Citi Real-Time Liquidity Sharing, clients can benefit from real-time funding solutions even in situations where their cash flow forecasting may not go as planned.
  • The launch of Citi Real-Time Liquidity Sharing is one of many recent innovative liquidity solutions developed and deployed by Citis awarding winning Liquidity Management business* to enhance its Cash Concentration product suite and expand geographical reach into markets.

Instructure Announces Pricing of Initial Public Offering

Retrieved on: 
Thursday, July 22, 2021

SALT LAKE CITY, July 21, 2021 /PRNewswire/ -- Instructure Holdings, Inc. (Instructure) today announced the pricing of its initial public offering of 12,500,000 shares of its common stock at a price to the public of $20.00.

Key Points: 
  • SALT LAKE CITY, July 21, 2021 /PRNewswire/ -- Instructure Holdings, Inc. (Instructure) today announced the pricing of its initial public offering of 12,500,000 shares of its common stock at a price to the public of $20.00.
  • In addition, Instructure has granted the underwriters a 30-day option to purchase up to an additional 1,875,000 shares of Instructure's common stock at the initial public offering price, less underwriting discounts and commissions.
  • Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Jefferies LLC and Macquarie Capital (USA) Inc. are acting as bookrunning managers for the offering.
  • Today, Instructure supports more than 30 million educators and learners at more than 6,000 organizations around the world.

ARMOUR Residential REIT, Inc. Second Quarter 2021 Webcast Scheduled for July 23, 2021

Retrieved on: 
Wednesday, July 21, 2021

VERO BEACH, Florida, July 21, 2021 (GLOBE NEWSWIRE) -- ARMOUR Residential REIT, Inc. (NYSE: ARR and ARR-PRC) (ARMOUR or the Company) announced today that it will provide an online, real-time webcast of its conference call with equity analysts covering second quarter 2021 operating results on Friday, July 23, 2021.

Key Points: 
  • VERO BEACH, Florida, July 21, 2021 (GLOBE NEWSWIRE) -- ARMOUR Residential REIT, Inc. (NYSE: ARR and ARR-PRC) (ARMOUR or the Company) announced today that it will provide an online, real-time webcast of its conference call with equity analysts covering second quarter 2021 operating results on Friday, July 23, 2021.
  • The Company will issue its second quarter 2021 earnings release after the close of trading on Thursday, July 22, 2021.
  • ARMOUR invests exclusively in fixed rate residential, adjustable rate and hybrid adjustable rate residential mortgage-backed securities issued or guaranteed by U.S. government-sponsored enterprises or guaranteed by the Government National Mortgage Association.
  • ARMOUR is externally managed and advised by ARMOUR Capital Management LP, an investment advisor registered with the Securities and Exchange Commission (SEC).

Enterprise Financial Services Corp Announces Completion of Merger With First Choice Bancorp

Retrieved on: 
Wednesday, July 21, 2021

Enterprise Financial Services Corp (Nasdaq: EFSC) (the Company, EFSC, or Enterprise), the holding company of Enterprise Bank & Trust (EB&T), announced today the completion of its merger with First Choice Bancorp (FCBP), with Enterprise as the surviving institution, effective as of 11:59 p.m. Eastern time on July 21, 2021.

Key Points: 
  • Enterprise Financial Services Corp (Nasdaq: EFSC) (the Company, EFSC, or Enterprise), the holding company of Enterprise Bank & Trust (EB&T), announced today the completion of its merger with First Choice Bancorp (FCBP), with Enterprise as the surviving institution, effective as of 11:59 p.m. Eastern time on July 21, 2021.
  • The merger of EB&T and FCBPs wholly owned subsidiary, First Choice Bank (First Choice), will be effective shortly thereafter.
  • The merger adds approximately $2.4 billion in assets, $2.0 billion in loans and $1.9 billion in deposits to Enterprise.
  • Enterprise Financial Services Corp (Nasdaq: EFSC), with approximately $12.7 billion in assets, is a financial holding company headquartered in Clayton, Missouri.

Eastern Bank Welcomes Stanley Tree Service, Inc. As A Commercial Customer

Retrieved on: 
Wednesday, July 21, 2021

Eastern Bank is pleased to announce Stanley Tree Service, Inc. (Stanley Tree) as a new commercial banking customer.

Key Points: 
  • Eastern Bank is pleased to announce Stanley Tree Service, Inc. (Stanley Tree) as a new commercial banking customer.
  • Stanley Tree was founded in 1986 as a residential tree trimming and service company.
  • Stanley Tree has 240 employees and is led by a team of dedicated, long-term employees.
  • The Commercial Banking team advising Stanley Tree Service includes Executive Vice President, Senior Commercial Banking Officer Greg Buscone, Senior Vice President and Commercial Team Leader Dan Field, and Senior Vice President and Commercial Relationship Manager David Nussbaum.

The Change Company Wins Best Leadership Team Award

Retrieved on: 
Wednesday, July 21, 2021

The Change Company was ranked #3 among small to midsized businesses in the category Best Leadership Team 2021 , ranking at the top amongst the thousands of banking, fintech, and mortgage companies rated.

Key Points: 
  • The Change Company was ranked #3 among small to midsized businesses in the category Best Leadership Team 2021 , ranking at the top amongst the thousands of banking, fintech, and mortgage companies rated.
  • The Change Company empowers homeowners, small businesses, and consumers to pursue their American dreams by bringing social and racial equity to banking and lending.
  • The Change Companys team has built businesses that have lent over $50 billion to over 250,000 borrowers and provided financial services to over two million Americans.
  • Since launching in 2016, Comparably has accumulated 10 million ratings on 60,000 U.S. companies.

Morgan Stanley at Work Creates Powerful Retirement Recordkeeper Value Proposition for Plan Sponsors Through Partnership with Vestwell

Retrieved on: 
Wednesday, July 21, 2021

This is truly a win-win for the marketplace, creating a value proposition that is hard to beat.

Key Points: 
  • This is truly a win-win for the marketplace, creating a value proposition that is hard to beat.
  • In addition to the commercial business relationship with Vestwell, Morgan Stanley also made a strategic investment in the firm during Vestwells recent Series C financing round.
  • Morgan Stanley at Work Retirement Solutions offers a flexible, multi-provider recordkeeper platform designed to meet the individual needs of companies.
  • Morgan Stanley at Work combines cutting-edge benefits software, Morgan Stanley intellectual capital and financial education delivered through multiple channels to enable employees to build a holistic plan to achieve their financial goals.