Economy of California

Wells Fargo Completes Investments in 13 Black-Owned Banks, Fulfilling $50 Million Pledge Made in 2020

Retrieved on: 
Monday, May 24, 2021

We want to help them grow so they can continue to be important drivers of economic vitality for years to come.

Key Points: 
  • We want to help them grow so they can continue to be important drivers of economic vitality for years to come.
  • In addition, Wells Fargo will be making its nationwide ATM network available for customers of these 13 MDIs to use without incurring fees.
  • External partners that assisted Wells Fargo include the National Bankers Association and Sullivan & Cromwell.
  • News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories .

Ulrike Guigui Named Wells Fargo Head of Payments Strategy

Retrieved on: 
Monday, May 24, 2021

Wells Fargo & Company (NYSE: WFC) today announced that Ulrike Guigui has been named head of Payments Strategy.

Key Points: 
  • Wells Fargo & Company (NYSE: WFC) today announced that Ulrike Guigui has been named head of Payments Strategy.
  • She will join the company on June 1 and will report to Ather Williams III, Wells Fargo head of Strategy, Digital, and Innovation.
  • View the full release here: https://www.businesswire.com/news/home/20210524005132/en/
    Ulrike Guigui, Wells Fargo Head of Payments Strategy (Photo: Wells Fargo)
    In this new position, Guigui will be responsible for leading the companys enterprise payments strategy.
  • News, insights, and perspectives from Wells Fargo are also available at Wells Fargo Stories .

Fender Play Foundation™ Welcomes New Board of Directors, Terry Lewis to Give Commencement Address Alongside Supporting Artists Finneas, Paul Sidoti, Divinity Roxx, Bassist Jason Momoa

Retrieved on: 
Friday, May 21, 2021

"I like that I am able to play without anyone judging me and that makes me feel comfortable with everyone else.

Key Points: 
  • "I like that I am able to play without anyone judging me and that makes me feel comfortable with everyone else.
  • "\nSince launching the program in June 2020, the Fender Play Foundation has placed instruments and Fender Play subscriptions in the hands of over 5,000 students.
  • Opening remarks will be led by Paul Sidoti , vocalist and multi-instrumentalist followed by a speech from five-time Grammy-winning artist and new board member Terry Lewis .
  • FENDER PLAY FOUNDATION are trademarks of Fender Musical Instruments Corporation and/or its affiliates.\nView original content to download multimedia: http://www.prnewswire.com/news-releases/fender-play-foundation-welcomes-...\n'

Civista Bancshares, Inc. Announces Tactical Balance Sheet Transactions

Retrieved on: 
Friday, May 21, 2021

b'SANDUSKY, Ohio, May 21, 2021 /PRNewswire/ -- Civista Bancshares, Inc. (NASDAQ:CIVB) ("Civista") announced three tactical transactions.\nOn May 17, 2021, Civista entered into an agreement to sell 7,361 shares of Visa Inc. Class B common stock at a pre-tax gain of approximately $1.8 million.

Key Points: 
  • b'SANDUSKY, Ohio, May 21, 2021 /PRNewswire/ -- Civista Bancshares, Inc. (NASDAQ:CIVB) ("Civista") announced three tactical transactions.\nOn May 17, 2021, Civista entered into an agreement to sell 7,361 shares of Visa Inc. Class B common stock at a pre-tax gain of approximately $1.8 million.
  • The carrying value of the Visa Class B shares on the Company\'s balance sheet was $100 as the Bank had no other historical cost basis in the shares.\nOn May 19, 2021, Civista also completed a $50.0 million prepayment of long-term Federal Home Loan Bank advances with a rate of 2.05% and a remaining maturity of approximately 8 years.
  • This transaction was accounted for as an early debt extinguishment resulting in a loss, reported within noninterest expense, of $3.7 million in the second quarter 2021.The debt prepayment, funded with excess cash, will save approximately $1.0 million in annual interest expense.\n"As we look for different ways to deploy excess liquidity, the prepayment of the Federal Home Loan Bank advances is one measure we are taking.While the immediate net effect of the advance prepayment and the sale of the Visa B shares is additional expense of $1.9 million, we expect the prepayment to improve our net interest margin by 12 basis points on an annualized basis," commented Dennis Shaffer, CEO and Presidentof Civista.\nIn addition, Civista redeployed $100 million of excess cash into a mix of investments, yielding 1.50% with an average duration of 5.2 years.\nThe net effect of these three transactions is a pre-tax net loss of $1.9 million and has an estimated earn-back of 0.8 years.The transactions will create $0.12 of accretion to earnings per share on an annualized basis and improve our net interest margin by 17 basis points on an annualized basis.\nCivista Bancshares, Inc. is a $3.1 billion financial holding company headquartered in Sandusky, Ohio.The Company\'s banking subsidiary, Civista Bank, operates 37 locations in Northern, Central and Southwestern Ohio, Southeastern Indiana and Northern Kentucky.Civista Bancshares, Inc. may be accessed at www.civb.com .Civista\'s common shares are traded on the NASDAQ Capital Market under the symbol "CIVB".\nView original content to download multimedia: http://www.prnewswire.com/news-releases/civista-bancshares-inc-announces...\n'

Kingston Technology Wins Coveted Global InfoSec Awards During RSA Conference 2021

Retrieved on: 
Thursday, May 20, 2021

The world\xe2\x80\x99s largest PC makers and cloud-hosting companies depend on Kingston for their manufacturing needs, and our passion fuels the technology the world uses every day.

Key Points: 
  • The world\xe2\x80\x99s largest PC makers and cloud-hosting companies depend on Kingston for their manufacturing needs, and our passion fuels the technology the world uses every day.
  • To learn more about how Kingston Is With You, visit Kingston.com .\nThis is Cyber Defense Magazine\xe2\x80\x99s ninth year of honoring global InfoSec innovators.
  • Our mission is to share cutting-edge knowledge, real-world stories and awards on the best ideas, products and services in the information technology industry.
  • Press images can be found in Kingston\xe2\x80\x99s press room here .\nKingston and the Kingston logo are registered trademarks of Kingston Technology Corporation.

Visa Inc. to Participate in Upcoming Investor Conferences

Retrieved on: 
Wednesday, May 19, 2021

The discussion will begin at 12:20 p.m. Eastern Time and last for approximately 30 minutes.\nOn Tuesday, June 8, Ryan McInerney, President, will present at the virtual Baird Global Consumer, Technology & Services Conference.

Key Points: 
  • The discussion will begin at 12:20 p.m. Eastern Time and last for approximately 30 minutes.\nOn Tuesday, June 8, Ryan McInerney, President, will present at the virtual Baird Global Consumer, Technology & Services Conference.
  • The company\xe2\x80\x99s relentless focus on innovation is a catalyst for the rapid growth of digital commerce on any device for everyone, everywhere.
  • As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce.
  • For more information, visit About Visa , visa.com/blog and @VisaNews .\nView source version on businesswire.com: https://www.businesswire.com/news/home/20210519005791/en/\n'

Goldbelly Announces $100 Million Series C Funding To Empower Chefs & Restaurants With National E-Commerce

Retrieved on: 
Tuesday, May 18, 2021

b'NEW YORK, May 18, 2021 /PRNewswire/ -- Goldbelly , America\'s first platform for food e-commerce, today announced a $100 million Series C investment to build the future of the at-home restaurant experience and to empower chefs and restaurants to reach new customers nationwide.

Key Points: 
  • b'NEW YORK, May 18, 2021 /PRNewswire/ -- Goldbelly , America\'s first platform for food e-commerce, today announced a $100 million Series C investment to build the future of the at-home restaurant experience and to empower chefs and restaurants to reach new customers nationwide.
  • We\'re thrilled to partner with Pete Jensen and the Spectrum team as we build an omnichannel future for the restaurant industry.
  • The company\'s mission is to connect people with their most loved foods, restaurants and experiences, no matter where they are.
  • Representative investments include AllTrails, Ancestry, Definitive Healthcare, GoodRx, Grubhub, Headspace, Kajabi, Lucid, Lynda.com, Scribd, The Knot Worldwide, SurveyMonkey and Verafin.

HyperX Joins National Hockey League as Official Global Partner of 2021 NHL Gaming World Championship

Retrieved on: 
Thursday, May 13, 2021

b'HyperX , the gaming division of Kingston Technology, Inc. , today announced it is partnering with the National Hockey League (NHL\xc2\xae) as the Official Gaming Headsets supplier of the 2021 NHL Gaming World Championship\xe2\x84\xa2 (GWC).

Key Points: 
  • b'HyperX , the gaming division of Kingston Technology, Inc. , today announced it is partnering with the National Hockey League (NHL\xc2\xae) as the Official Gaming Headsets supplier of the 2021 NHL Gaming World Championship\xe2\x84\xa2 (GWC).
  • View the full release here: https://www.businesswire.com/news/home/20210513005791/en/\nHyperX Joins National Hockey League as Official Global Partner of 2021 NHL Gaming World Championship.
  • Running from April 7 to July 24, the NHL GWC offers the hockey gamer community a chance to show off their skills while sporting award-winning HyperX Cloud headsets.
  • Whatever your skill level, whatever genres you play, we embrace all gaming enthusiasts everywhere with our core belief \xe2\x80\x94 We\xe2\x80\x99re All Gamers.\n'

New Organizational Design for Wells Fargo’s Consumer & Small Business Banking

Retrieved on: 
Thursday, May 13, 2021

b'Wells Fargo & Company\xe2\x80\x99s (NYSE: WFC) CEO of Consumer & Small Business Banking (CSBB) Mary Mack announced today the structure and leaders of her organization.

Key Points: 
  • b'Wells Fargo & Company\xe2\x80\x99s (NYSE: WFC) CEO of Consumer & Small Business Banking (CSBB) Mary Mack announced today the structure and leaders of her organization.
  • View the full release here: https://www.businesswire.com/news/home/20210513005684/en/\nWoman entering a Wells Fargo branch with a glass front through a revolving door.
  • (Photo: Wells Fargo)\n\xe2\x80\x9cLast fall we welcomed Sandra Nudelman and Amanda Wiltshire-Craine and this summer we welcome Hilani Kerr and Shaun McDougall, all from outside of Wells Fargo, to the CSBB leadership team,\xe2\x80\x9d said Mack.
  • News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories .\nAdditional information may be found at www.wellsfargo.com | Twitter: @WellsFargo .\nThis news release contains forward-looking statements about our future financial performance and business.

PIMCO Hires Brett Condron as Managing Director in U.S. Global Wealth Management Group

Retrieved on: 
Thursday, May 13, 2021

b"NEWPORT BEACH, Calif., May 13, 2021 (GLOBE NEWSWIRE) -- PIMCO, one of the world\xe2\x80\x99s premier fixed income investment managers, has hired Brett Condron as a Managing Director in the firm\xe2\x80\x99s U.S.

Key Points: 
  • b"NEWPORT BEACH, Calif., May 13, 2021 (GLOBE NEWSWIRE) -- PIMCO, one of the world\xe2\x80\x99s premier fixed income investment managers, has hired Brett Condron as a Managing Director in the firm\xe2\x80\x99s U.S.
  • Global Wealth Management group, where he will focus on a broad range of growth initiatives including the firm\xe2\x80\x99s committed efforts to bring alternative solutions to financial advisors and their clients.
  • Mr. Condron will report to Gregory Hall, Managing Director and Head of U.S. GWM.\nMr.
  • She joined PIMCO from Wells Fargo, where she was a Managing Director of Investment Solutions Consulting within the bank\xe2\x80\x99s Private Wealth Management group.