First Bank & Trust

KBRA Assigns Preliminary Ratings to Mercury Financial Credit Card Master Trust Series 2024-1

Retrieved on: 
Tuesday, January 23, 2024
Banking, Professional Services, Finance, First Bank & Trust, First Bank, Master trust, Mercury, KBRA, Credit card, National Association, Mastercard, Marketing, Wilmington Trust, Visa

KBRA assigns preliminary ratings to four classes of notes issued by Mercury Financial Credit Card Master Trust, Series 2024-1 (“MFCCMT 2024-1”), a credit card asset-backed securitization issued out of the Mercury Financial Credit Card Master Trust (“Master Trust”).

Key Points: 
  • KBRA assigns preliminary ratings to four classes of notes issued by Mercury Financial Credit Card Master Trust, Series 2024-1 (“MFCCMT 2024-1”), a credit card asset-backed securitization issued out of the Mercury Financial Credit Card Master Trust (“Master Trust”).
  • Mercury Financial LLC (the “Company”) is a consumer finance company founded in 2013 that provides services to support the Mercury Financial Program, its general-purpose credit card program under the Mastercard and Visa brands.
  • The notes of MFCCMT 2024-1 will be collateralized and repaid by a portfolio of revolving general-purpose credit card accounts in the Master Trust (“Trust Portfolio”) for which the Series 2024-1 Notes are allocated a percentage interest in the Trust Portfolio.
  • The accounts were originated through the Mercury Financial Program and the Legacy Accounts acquired from a Delaware banking corporation.

Heartland Financial USA, Inc. (“HTLF”) Reports Quarterly and Year to Date Results as of June 30, 2023

Retrieved on: 
Monday, July 31, 2023
Lender option borrower option, Insurance, Treasury, Partnership, Rocky Mountain Bank v. Google, Inc., FDIC, GAAP, First Bank, July, EDT, Sale, PPP, Retirement, VISA, Corporate services, Webcast, Growth, First Bank & Trust, Bank, Fraud, Management, Cryptocurrency, Bottled water, Airline, Reinsurance, Video game, Security (finance), Propane, Real estate, Financial adviser, Iron ore, Life insurance, Rare-earth element, Lithium

DENVER, July 31, 2023 (GLOBE NEWSWIRE) -- Heartland Financial USA, Inc. (NASDAQ: HTLF) today reported the following results for the quarter ended June 30, 2023, compared to the quarter ended June 30, 2022:

Key Points: 
  • Net interest income of $299.3 million compared to $277.1 million, an increase of $22.2 million or 8%.
  • During the second quarter of 2023, Bank of Blue Valley and First Bank & Trust were consolidated into HTLF Bank.
  • The two remaining charters are expected to be consolidated by the end of October 2023.
  • Total consolidation restructuring costs are projected to be $19-$20 million with approximately $6-$7 million of expenses remaining to be incurred in 2023.

Heartland Financial USA, Inc. ("HTLF") Reports Quarterly Results as of March 31, 2023

Retrieved on: 
Monday, April 24, 2023
Borrowing base, Insurance, Treasury, Partnership, Certificate, FDIC, GAAP, July, EDT, Sale, ICS, PPP, Retirement, Corporate services, Webcast, Growth, First Bank & Trust, Bank, Environment, Management, Cryptocurrency, Security (finance), Reinsurance, Real estate, Construction, Video game, Airline, Iron ore, Pharmaceutical industry, Life insurance

DENVER, April 24, 2023 (GLOBE NEWSWIRE) -- Heartland Financial USA, Inc. (NASDAQ: HTLF) today reported the following results for the quarter ended March 31, 2023 compared to the quarter ended March 31, 2022:

Key Points: 
  • The remaining four charters are expected to be consolidated by the end of 2023.
  • Total consolidation restructuring costs are projected to be $19-$20 million with approximately $8-$9 million of expenses remaining to be incurred in 2023.
  • The transaction is expected to be completed and recordkeeping and administration services transferred in the second quarter of 2023.
  • Management believes the non-GAAP measures are helpful for investors to analyze and evaluate the company's financial condition and operating results.

KBRA Assigns Preliminary Ratings to Mercury Financial Credit Card Master Trust Series 2023-1

Retrieved on: 
Wednesday, January 25, 2023
Banking, Professional Services, Finance, The Master Trust Bank of Japan, Mercury, Wilmington Trust, First Bank, National Association, First Bank & Trust, Credit card, Master trust, KBRA, Bank, Telescopic sight

KBRA assigns preliminary ratings to four classes of notes issued by Mercury Financial Credit Card Master Trust, Series 2023-1 (“MFCCMT 2023-1”), a credit card asset-backed securitization issued out of the Mercury Financial Credit Card Master Trust (“Master Trust”).

Key Points: 
  • KBRA assigns preliminary ratings to four classes of notes issued by Mercury Financial Credit Card Master Trust, Series 2023-1 (“MFCCMT 2023-1”), a credit card asset-backed securitization issued out of the Mercury Financial Credit Card Master Trust (“Master Trust”).
  • The notes of MFCCMT 2023-1 are collateralized and repaid by a portfolio of revolving general-purpose credit card accounts in the Master Trust (“Trust Portfolio”) for which the Series 2023-1 Notes are allocated a percentage interest in the Trust Portfolio.
  • The accounts were originated through the Mercury Financial Program and the Legacy Accounts acquired from a Delaware banking corporation.
  • Previous series are MFCCMT Series 2021-1, MFCCMT Series 2022-1, MFCCMT Series 2022-2, MFCCMT Series 2022-3, MFCCMT Series 2021-VFN1, MFCCMT Series 2021-VFN2 and MFCCMT Series 2022-VFN1.

FIRST BANK & TRUST COMPANY PARTNERS WITH COLLEGE AVE STUDENT LOANS TO OFFER HIGHER EDUCATION FINANCING SOLUTIONS

Retrieved on: 
Monday, December 5, 2022
First Bank & Trust, Partnership, Entrepreneurship, Bank, Shenandoah Valley Junior Senior High School, Senior, Education, First Bank, Student, Management

ABINGDON, Va., Dec. 5, 2022 /PRNewswire/ -- First Bank & Trust Company announces its partnership with College Ave Student Loans, a leading student loan fintech lender, to offer student loan and student loan refinancing products. For local families pursuing higher education, the referral-based partnership provides access to college financing through a trusted partner in the student loan industry.

Key Points: 
  • First Bank & Trust becomes the largest Virginia-headquartered bank based on assets to partner with College Ave, providing local families access to private loans for higher education
    ABINGDON, Va., Dec. 5, 2022 /PRNewswire/ -- First Bank & Trust Company announces its partnership with College Ave Student Loans, a leading student loan fintech lender, to offer student loan and student loan refinancing products.
  • For local families pursuing higher education, the referral-based partnership provides access to college financing through a trusted partner in the student loan industry.
  • College Ave's student loans, parent loans, grad loans and refinancing options feature competitive interest rates and flexible repayment terms.
  • "At College Ave, we share First Bank & Trust Company's commitment in providing innovative financial solutions and putting customers first.

Mercury® Financial Names Jason Whiting as Chief Financial Officer

Retrieved on: 
Tuesday, November 15, 2022
Software, Internet, Finance, Banking, Professional Services, Technology, Fintech, Security, State, Mercury, Whiting, CFO, First Bank, Investment banking, Multimedia, Life, Lehman Brothers, Science and technology in Asia, SD, International finance, First Bank & Trust, Bank, Management, Barclays

Mercury Financial , a leading fintech committed to financial inclusion, announced the appointment of Jason Whiting as Chief Financial Officer.

Key Points: 
  • Mercury Financial , a leading fintech committed to financial inclusion, announced the appointment of Jason Whiting as Chief Financial Officer.
  • View the full release here: https://www.businesswire.com/news/home/20221115005305/en/
    Jason Whiting, Chief Financial Officer of Mercury Financial (Photo: Business Wire)
    Mercury Financial is committed to expanding financial inclusion through technology by delivering best in class credit and a superior digital payments experience.
  • Mercury is at a terrific inflection point in its development, said Jason Whiting, incoming CFO at Mercury Financial.
  • Mercury Financial LLC (Mercury Financial) is a mission-driven fintech that is expanding financial inclusion, helping hardworking Americans to build better credit so they can enjoy the benefits of a better life since its founding in 2013.

KBRA Assigns Preliminary Ratings to Mercury Financial Credit Card Master Trust Series 2022-3

Retrieved on: 
Friday, November 11, 2022
Banking, Professional Services, Finance, Company, First Bank, Wilmington Trust, Master Trust, KBRA, Mercury, Note, Credit card, First Bank & Trust, The Master Trust Bank of Japan, National Association, Bank, Telescopic sight

KBRA assigns preliminary ratings to four classes of notes issued by Mercury Financial Credit Card Master Trust, Series 2022-3 (MFCCMT 2022-3), a credit card asset-backed securitization issued out of the Mercury Financial Credit Card Master Trust (Master Trust).

Key Points: 
  • KBRA assigns preliminary ratings to four classes of notes issued by Mercury Financial Credit Card Master Trust, Series 2022-3 (MFCCMT 2022-3), a credit card asset-backed securitization issued out of the Mercury Financial Credit Card Master Trust (Master Trust).
  • The notes of MFCCMT 2022-3 are collateralized and repaid by a portfolio of revolving general-purpose credit card accounts in the Master Trust (Trust Portfolio) for which the Series 2022-3 Notes are allocated a percentage interest in the Trust Portfolio.
  • The accounts were originated through the Mercury Financial Program and the Legacy Accounts acquired from a Delaware banking corporation.
  • Previous series are MFCCMT Series 2021-1, MFCCMT Series 2022-1, MFCCMT Series 2022-2, MFCCMT Series 2021-VFN1, MFCCMT Series 2021-VFN2 and MFCCMT Series 2022-VFN1.

Mercury® Financial Announces Launch of Mercury® Rewards Visa® Card

Retrieved on: 
Tuesday, August 30, 2022
Professional Services, Technology, Finance, Fintech, Banking, Digital Cash Management, Digital Assets, Partnership, First Bank, First Bank & Trust, SD, Visa, Life, LinkedIn, Mercury, Financial services

Mercury Financial LLC , a leading financial inclusion technology company, is launching a multi-year partnership with Visa, the world leader in digital payments.

Key Points: 
  • Mercury Financial LLC , a leading financial inclusion technology company, is launching a multi-year partnership with Visa, the world leader in digital payments.
  • This starts with offering a credit solution that meets the consumers financial needs and improves their financial experience, said James Peterson, Chief Executive Officer of Mercury Financial.
  • Mercury Financial will begin accepting new customer applications for the Mercury Rewards Visa card later this year.
  • Mercury Financial LLC (Mercury Financial) is a mission-driven fintech that is expanding financial inclusion, helping hardworking Americans to build better credit so they can enjoy the benefits of a better life since its founding in 2013.

KBRA Assigns Preliminary Ratings to Mercury Financial Credit Card Master Trust Series 2022-2

Retrieved on: 
Monday, August 1, 2022
Professional Services, Finance, Wilmington Trust, First Bank & Trust, KBRA, First Bank, National Association, Credit card, Note, Company, Master Trust, The Master Trust Bank of Japan, Mercury, Bank

KBRA assigns preliminary ratings to four classes of notes issued by Mercury Financial Credit Card Master Trust, Series 2022-2 (MFCCMT 2022-2), a credit card asset-backed securitization issued out of the Mercury Financial Credit Card Master Trust (Master Trust).

Key Points: 
  • KBRA assigns preliminary ratings to four classes of notes issued by Mercury Financial Credit Card Master Trust, Series 2022-2 (MFCCMT 2022-2), a credit card asset-backed securitization issued out of the Mercury Financial Credit Card Master Trust (Master Trust).
  • The notes of MFCCMT 2022-2 are collateralized and repaid by a portfolio of revolving general-purpose credit card accounts in the Master Trust (Trust Portfolio) for which the Series 2022-2 Notes are allocated a percentage interest in the Trust Portfolio.
  • The accounts were originated through the Mercury Financial Program and the Legacy Accounts acquired from a Delaware banking corporation.
  • Previous series are MFCCMT Series 2022-1, MFCCMT Series 2021-1, MFCCMT Series 2021-VFN1 and MFCCMT Series 2021-VFN2.

Mercury® Financial Demonstrates Leadership in Financial Inclusion, Surpassing $2.0 Billion of Near Prime Credit Card Balances

Retrieved on: 
Tuesday, June 28, 2022
Software, Personal Finance, Internet, Finance, Banking, Professional Services, Technology, Fintech, Life, Fraud, CEO, Â, LLC, Technology, First Bank & Trust, Solution, Mercury, SD, Science and technology in Asia, First Bank, Financial services, Bank

The companys advanced technology, experienced credit card team and disciplined approach enables Mercury Financial to help more customers achieve their financial goals.

Key Points: 
  • The companys advanced technology, experienced credit card team and disciplined approach enables Mercury Financial to help more customers achieve their financial goals.
  • At Mercury Financial, we are on a mission to help hardworking Americans in the near-prime market to manage their credit responsibly, so they can enjoy the benefits of having better credit and better lives, said James Peterson, CEO of Mercury Financial.
  • Mercury Financial undertakes a judicious, data-driven approach as part of its operating strategy, allowing us to help our customers, said Marge Hannum, Chief Risk Officer of Mercury Financial.
  • Mercury Financial LLC (Mercury Financial) is a mission-driven fintech that is expanding financial inclusion, helping hardworking Americans to build better credit so they can enjoy the benefits of a better life since its founding in 2013.