Warburg family

RMR Mortgage Trust Announces Second Quarter 2021 Results

Retrieved on: 
Tuesday, August 3, 2021

During the quarter ended June 30, 2021, UBS AG advanced approximately $49.2 million to RMRM under its master repurchase facility.

Key Points: 
  • During the quarter ended June 30, 2021, UBS AG advanced approximately $49.2 million to RMRM under its master repurchase facility.
  • On July 15, 2021, RMRM declared a quarterly distribution of $0.15 per common share for the second quarter of 2021, or approximately $1.5 million in aggregate, to shareholders of record on July 26, 2021.
  • At 10:00 a.m. Eastern Time on Wednesday, August 4, 2021, President, Tom Lorenzini, and Chief Financial Officer and Treasurer, Doug Lanois , will host a conference call to discuss RMRMs second quarter 2021 financial results.
  • A copy of RMRMs Second Quarter 2021 Supplemental Operating and Financial Data is available for download at RMRMs website, www.rmrmortgagetrust.com .

UBS Announces Completion of the Index Succession for Two ETNs

Retrieved on: 
Monday, August 2, 2021

- the Initial Index Level of the ETN has been adjusted to be equal to the Index Closing Level of the Successor Index on the Effective Date, times an Adjustment Factor.

Key Points: 
  • - the Initial Index Level of the ETN has been adjusted to be equal to the Index Closing Level of the Successor Index on the Effective Date, times an Adjustment Factor.
  • UBS is not providing tax advice to holders of ETNs and such holders should consult with their tax advisors regarding the tax treatment of the ETNs.
  • The Original Index was publicly disseminated starting from January 2011 and has no live performance history prior to that date.
  • This material is issued by UBS AG and/or any of its subsidiaries and/or any of its affiliates ("UBS").

Team, Inc. Becomes The Exclusive Provider Of Credosoft Integrity Mangement In North America

Retrieved on: 
Monday, August 2, 2021

"We are excited to strengthen our relationship with Credosoft, a premier global provider of integrity management software," said Robert Young, TEAM's President of Asset Integrity and Digital Group.

Key Points: 
  • "We are excited to strengthen our relationship with Credosoft, a premier global provider of integrity management software," said Robert Young, TEAM's President of Asset Integrity and Digital Group.
  • The Credosoft service offerings provides TEAM, a stable, subscription-based revenue profile and further positions the company to be a leading provider of integrated digitally-enabled asset integrity solutions in a variety of end markets."
  • "TEAM is the perfect partner to further help our expansion to North America," said John McAteer, Credosoft's Chief Executive Officer.
  • There are multiple clients currently utilizing the Credosoft platform for integrity monitoring services in North America.

Commercial National Financial Corporation Reports 2nd Quarter 2021 Earnings

Retrieved on: 
Wednesday, July 28, 2021

ITHACA, Mich., July 28, 2021 (GLOBE NEWSWIRE) -- Commercial National Financial Corporation (Pink Sheets: CEFC) today announced second quarter 2021 net income of $1,412,000, or $.36 per share compared to second quarter 2020 net income of $1,147,000, or $.29 per share.

Key Points: 
  • ITHACA, Mich., July 28, 2021 (GLOBE NEWSWIRE) -- Commercial National Financial Corporation (Pink Sheets: CEFC) today announced second quarter 2021 net income of $1,412,000, or $.36 per share compared to second quarter 2020 net income of $1,147,000, or $.29 per share.
  • Return on Equity (ROE) was 13.15% for the second quarter of 2021 compared to 11.54% for the second quarter of 2020.
  • The provision for loan losses expense was zero for the second quarter of 2021, compared to $450,000 for the second quarter of 2020.
  • Commercial National Financial Corporation operates through a single subsidiary bank, Commercial Bank.

GBank Financial Holdings Inc. Announces Quarterly Operating Earnings

Retrieved on: 
Friday, July 23, 2021

Second Quarter Financial Highlights(for the quarterly period ended and at June 30, 2021)

Key Points: 
  • Second Quarter Financial Highlights(for the quarterly period ended and at June 30, 2021)
    Net income increased 222% to $3.36 million, compared to Q1 2021.
  • This bold initiative utilized the Company's sizable financial strength to support all the Bank's communities and clients.
  • The Company will host its quarterly earnings call on Tuesday, August 3, at 2:00 p.m. (PST).
  • GBank Financial Holdings Inc. ("GBank" or the "Company") ( GBFH ), a bank holding company with approximately $544 million in assets at June 30, 2021, conducts business through its wholly owned subsidiary, Bank of George (named in honor of George Washington).

Ocean Capital Announces Formation of the Coalition of Concerned UBS Closed-End Bond Fund Investors

Retrieved on: 
Thursday, July 22, 2021

3 Market returns included in UBS Asset Managers of Puerto Rico Closed-End Funds Quarterly Report, Fourth Quarter 2020.

Key Points: 
  • 3 Market returns included in UBS Asset Managers of Puerto Rico Closed-End Funds Quarterly Report, Fourth Quarter 2020.
  • 4 Market returns included in UBS Asset Managers of Puerto Rico Closed-End Funds Quarterly Report, Fourth Quarter 2020.
  • 5 CNBC, UBS Group CEO on Puerto Rico: We could have done things better, June 18, 2018.
  • 6 CNBC, UBS Group CEO on Puerto Rico: We could have done things better, June 18, 2018.

South Atlantic Bancshares, Inc. Reports Earnings of $0.32 per Diluted Common Share For the Three Months Ended June 30, 2021

Retrieved on: 
Tuesday, July 20, 2021

MYRTLE BEACH, S.C., July 20, 2021 /PRNewswire/ -- South Atlantic Bancshares, Inc. ("South Atlantic" or the "Company") (OTCQX: SABK), parent of South Atlantic Bank (the "Bank"), reported consolidated net income of $2.5 million, or $0.32 per diluted common share, for the three months ended June 30, 2021, a decrease of $1.0 million, or $0.14 per diluted common share, compared to the first quarter of 2021.  Consolidated net income was $6.0 million, or $0.79 per diluted common share, for the six months ended June 30, 2021, an increase of $2.6 million, or $0.34 per diluted common share, compared to the six months ended June 30, 2020.

Key Points: 
  • South Atlantic Bancshares, Inc. (OTCQX: SABK) is a registered bank holding company based in Myrtle Beach, South Carolina with $1.1 billion in total assets.
  • The Company's banking subsidiary, South Atlantic Bank, is a full-service financial institution spanning the entire coastal area of South Carolina, and is locally owned, controlled and operated.
  • Services include a full range of consumer and commercial banking products, including mortgage, and treasury management, including South Atlantic Bank goMobile, the Bank's mobile banking app.
  • The Company makes available, free of charge, on its web site the Company's annual meeting materials, annual reports, and quarterly earnings reports.

UBS Settles Charges Related to Investments in Complex Exchange-Traded Product

Retrieved on: 
Monday, July 19, 2021

The order finds that UBS prohibited brokerage representatives from soliciting sales of the product and placed other restrictions on sales of the product to brokerage customers, but did not place similar restrictions on certain financial advisers use of the product in discretionary managed client accounts.

Key Points: 
  • The order finds that UBS prohibited brokerage representatives from soliciting sales of the product and placed other restrictions on sales of the product to brokerage customers, but did not place similar restrictions on certain financial advisers use of the product in discretionary managed client accounts.
  • According to the order, UBS prohibited the financial advisers from making additional recommendations of this ETP prior to being contacted by the Commission staff.
  • Advisory firms must protect clients from inappropriate investments in complex financial products, said Daniel Michael, Chief of the SEC Enforcement Divisions Complex Financial Instruments Unit.
  • We will continue to scrutinize firms policies and procedures related to these risky products, and we will take action when they are inadequate.

UBS Advisor Wendy Spinner Recognized for Local Philanthropic Work by Invest in Others

Retrieved on: 
Thursday, July 15, 2021

Spinner was recognized for her philanthropic contributions to The Fulfillment Fund in Los Angeles, which works to make college a reality for students growing up in educationally and economically under-resourced communities.

Key Points: 
  • Spinner was recognized for her philanthropic contributions to The Fulfillment Fund in Los Angeles, which works to make college a reality for students growing up in educationally and economically under-resourced communities.
  • We are extremely proud that Wendy has been recognized for her philanthropic work within the Los Angeles community, said Lauren Gorsche, West Coast Complex Director at UBS Private Wealth Management.
  • Spinner is an Endowment & Foundation Consultant who along with her team, partners with family foundations and philanthropic organizations to help them fulfill their missions.
  • The key symbol and UBS are among the registered and unregistered trademarks of UBS.

Cenlar Promotes Members of Its Legal Team

Retrieved on: 
Wednesday, July 14, 2021

Michael and Jennifer not only exhibit expertise to their craft on the legal team, but their hard work and commitment is truly a testament to doing right for our employees, clients and homeowners.

Key Points: 
  • Michael and Jennifer not only exhibit expertise to their craft on the legal team, but their hard work and commitment is truly a testament to doing right for our employees, clients and homeowners.
  • He is responsible for spearheading the regulatory side of the Cenlar legal counsel team.
  • As the nations leading subservicer, Cenlar boasts a loyal and growing client base including banks, credit unions and mortgage bankers.
  • Headquartered in Ewing, NJ, Cenlar is industry rated and audited regularly by independent third parties.