Banking

KBRA Releases Day One Recap of Virtual Structured Finance Conference

Wednesday, September 23, 2020 - 12:40am

Kroll Bond Rating Agency (KBRA) releases a Day One recap of its Structured Finance Virtual Conference: Credit & Covid-19: Is the Worst Behind Us?

Key Points: 
  • Kroll Bond Rating Agency (KBRA) releases a Day One recap of its Structured Finance Virtual Conference: Credit & Covid-19: Is the Worst Behind Us?
  • Panelists at the conference, which attracted over 900 registrants, discussed the current state of play across the ABS Consumer segment, CMBS, RMBS, and Aircraft ABS.
  • Interested in attending the KBRA Structured Finance Virtual Conference?
  • KBRA is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO.

Sterling Bancorp Announces Appointment of Two New Independent Directors; Sets Date for 2020 Annual Meeting

Wednesday, September 23, 2020 - 12:10am

During this time, he also served as a director at Talmer Bancorp, a bank holding company, from December 2014 to August 2015.

Key Points: 
  • During this time, he also served as a director at Talmer Bancorp, a bank holding company, from December 2014 to August 2015.
  • In addition, he was a board observer at Sun Bancorp on behalf of WL Ross & Co. LLC from January 2016 to January 2018 in connection with its investment in Sun Bancorp.
  • The Companys Board has set November 18, 2020 as the date for the 2020 Annual Meeting.
  • The 2020 Annual Meeting will be held at a time and location to be determined and specified in the Companys proxy statement related to the 2020 Annual Meeting.

Laird Superfood Announces Pricing of Initial Public Offering

Tuesday, September 22, 2020 - 11:53pm

Laird Superfood, Inc. (Laird Superfood) today announced the pricing of its initial public offering of 2,650,000 shares of its common stock at a price of $22.00 per share.

Key Points: 
  • Laird Superfood, Inc. (Laird Superfood) today announced the pricing of its initial public offering of 2,650,000 shares of its common stock at a price of $22.00 per share.
  • Laird Superfood has granted the underwriters a 30-day option to purchase up to an additional 397,500 shares of its common stock to cover over allotments, if any, at the initial public offering price, less underwriting discounts and commissions.
  • Canaccord Genuity and Craig-Hallum Capital Group are acting as the joint book-running managers for the offering.
  • Laird Superfood, Inc. creates award-winning, plant-based superfood products that are both delicious and functional.

FNF Reaches Major Milestone Of 800,000 startSafe Digital Opening Packages Delivered To Consumers And Adds Mobile Earnest Money Deposit

Tuesday, September 22, 2020 - 9:10pm

As significant as delivering over 800,000 startSafe digital opening packages to consumers is, even more promising is the fact that over 70% of all packages are opened and 85% of consumers that begin a startSafe interview complete it.

Key Points: 
  • As significant as delivering over 800,000 startSafe digital opening packages to consumers is, even more promising is the fact that over 70% of all packages are opened and 85% of consumers that begin a startSafe interview complete it.
  • This completion rate shows that consumers are ready to adopt a new real estate experience.
  • We are now taking the next step in enhancing the startSafe digital opening package to allow consumers to deposit earnest money."
  • Mobile Deposit allows consumers to make earnest money deposits using their mobile phones as part of their initial startSafe interview or as a separate interaction.

Banner Bank Announces Retirement of Chief Credit Officer; Promotion of Replacement

Tuesday, September 22, 2020 - 9:43pm

The Banner Bank executive leadership team today announced the retirement of Richard B. Barton, Executive Vice President and Chief Credit Officer, effective October 31, 2020.

Key Points: 
  • The Banner Bank executive leadership team today announced the retirement of Richard B. Barton, Executive Vice President and Chief Credit Officer, effective October 31, 2020.
  • Following Bartons retirement, Jill M. Rice, currently Executive Vice President and Senior Credit Officer, will assume the role of Chief Credit Officer.
  • View the full release here: https://www.businesswire.com/news/home/20200922006026/en/
    Banner Bank announces retirement of Richard B. Barton, Executive Vice President and Chief Credit Officer, effective October 31, 2020.
  • (Photo: Business Wire)
    Barton joined Banner Bank as Chief Credit Officer in 2002, and retires with more than 48 years of experience in the banking industry.

Blackstone Prices $900 Million Senior Notes Offering

Tuesday, September 22, 2020 - 9:15pm

Blackstone (NYSE: BX) priced its offering of $500 million of 1.600% senior notes due 2031 and $400 million of 2.800% senior notes due 2050 of Blackstone Holdings Finance Co.

Key Points: 
  • Blackstone (NYSE: BX) priced its offering of $500 million of 1.600% senior notes due 2031 and $400 million of 2.800% senior notes due 2050 of Blackstone Holdings Finance Co.
  • The notes will be fully and unconditionally guaranteed by The Blackstone Group Inc. and its indirect subsidiaries, Blackstone Holdings I L.P., Blackstone Holdings AI L.P., Blackstone Holdings II L.P., Blackstone Holdings III L.P. and Blackstone Holdings IV L.P. Blackstone intends to use the proceeds from the notes offering for general corporate purposes.
  • The notes were offered and sold to qualified institutional buyers in the United States pursuant to Rule 144A and outside the United States pursuant to Regulation S under the Securities Act of 1933.
  • This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act of 1933.

Citi Third Quarter 2020 Earnings Review

Tuesday, September 22, 2020 - 9:15pm

Citigroup will issue its third quarter results via press release at approximately 8:00 AM (ET) on Tuesday, October 13, 2020.

Key Points: 

REPAY Announces Closing of Over-Allotment Option in Public Offering of Common Stock

Tuesday, September 22, 2020 - 9:05pm

Repay Holdings Corporation (NASDAQ: RPAY) (REPAY or the Company) today announced that the underwriter of its previously announced registered underwritten public offering of 13,000,000 shares of its Class A common stock fully exercised its over-allotment option to purchase an additional 1,364,816 shares of Class A common stock from the Company.

Key Points: 
  • Repay Holdings Corporation (NASDAQ: RPAY) (REPAY or the Company) today announced that the underwriter of its previously announced registered underwritten public offering of 13,000,000 shares of its Class A common stock fully exercised its over-allotment option to purchase an additional 1,364,816 shares of Class A common stock from the Company.
  • The offering of the additional shares of Class A common stock pursuant to the over-allotment option closed today.
  • The closing of the over-allotment option, combined with the previously announced registered underwritten public offering of 13,000,000 shares of Class A common stock, resulted in an aggregate increase to the Companys public float of Class A common stock by 14,364,816 shares.
  • As a result of the closing of the over-allotment option and the application of the offering proceeds, Corsair and its affiliated funds no longer hold an equity stake in the Company.

Fulton Financial Corporation Declares Quarterly Cash Dividend

Tuesday, September 22, 2020 - 9:30pm

The Board of Directors of Fulton Financial Corporation (Nasdaq: FULT) has declared a quarterly cash dividend of thirteen cents per share on its common stock, payable on October 15, 2020, to shareholders of record as of October 2, 2020.

Key Points: 
  • The Board of Directors of Fulton Financial Corporation (Nasdaq: FULT) has declared a quarterly cash dividend of thirteen cents per share on its common stock, payable on October 15, 2020, to shareholders of record as of October 2, 2020.
  • Fulton Financial Corporation, a $24.6 billion Lancaster, Pa.-based financial holding company, has more than 3,400 employees and operates more than 225 branches in Pennsylvania, Maryland, Delaware, New Jersey and Virginia through Fulton Bank, N.A.
  • View source version on businesswire.com: https://www.businesswire.com/news/home/20200922005776/en/

Fifth Third Bancorp Announces Cash Dividends

Tuesday, September 22, 2020 - 8:30pm

Today Fifth Third Bancorp announced the declaration of cash dividends on its common shares, Series I preferred shares, Series J preferred shares, Series K preferred shares, Series L preferred shares, and Class B Series A preferred shares.

Key Points: 
  • Today Fifth Third Bancorp announced the declaration of cash dividends on its common shares, Series I preferred shares, Series J preferred shares, Series K preferred shares, Series L preferred shares, and Class B Series A preferred shares.
  • Fifth Third Bancorp (Nasdaq: FITB) today declared a cash dividend on its common shares of $0.27 per share for the third quarter of 2020.
  • Fifth Third also declared a cash dividend on its 6.625% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series I (Nasdaq: FITBI), at the rate of $414.06 per preferred share, which equates to approximately $0.41406 for each depositary share.
  • Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio, and the indirect parent company of Fifth Third Bank, National Association, a federally chartered institution.