Banking

Prudential Bancorp, Inc. Announces First Quarter Fiscal 2020 Results

Friday, January 17, 2020 - 9:30pm

The increase in interest income in the first quarter of fiscal 2020 primarily reflected the increase in the average balance of earning assets as the yield on interest-earning assets remained stable at 3.79%.

Key Points: 
  • The increase in interest income in the first quarter of fiscal 2020 primarily reflected the increase in the average balance of earning assets as the yield on interest-earning assets remained stable at 3.79%.
  • The net interest margin decreased to 2.03% during the quarter ended December 31, 2019 from 2.28% during the comparable period in 2018.
  • With respect to the quarter ended December 31, 2019, non-interest income amounted to $832,000 as compared to $380,000 for the same quarter in fiscal 2019.
  • Non-interest income was higher in the first quarter of fiscal 2020 as compared to the first quarter of fiscal 2019 primarily due to the recognition of $318,000 in gains from sales of an aggregate of $17.2 million of investment and mortgage-backed securities.

Bermuda Confirmed as a Global Leader in the Fight Against Money Laundering and the Financing of Terrorism and Proliferation

Friday, January 17, 2020 - 9:11pm

Speaking at a press conference today, Bermudas Minister of Finance, the Hon.

Key Points: 
  • Speaking at a press conference today, Bermudas Minister of Finance, the Hon.
  • Curtis L. Dickinson, said: The Bermuda Government has on many occasions highlighted its commitment to a high level of compliance with appropriate global standards.
  • The results of this report confirm that Bermuda knows what it is doing and does it well.
  • An independent, public-private partnership, we connect you to industry professionals, regulatory officials, and key contacts in the Bermuda government to assist domicile decisions.

KBRA Assigns AA- Rating with Stable Outlook to the City of Waterbury’s GO Bonds, Issue of 2020, Series A, GO Refunding Bonds, Issue of 2020, Series B, and GO Refunding Bonds (Federally Taxable), Issue of 2020, Series C

Friday, January 17, 2020 - 9:05pm

KBRA is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO.

Key Points: 
  • KBRA is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO.
  • In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus.
  • KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider and is a certified Credit Rating Agency (CRA) by the European Securities and Markets Authority (ESMA).
  • Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA.

Goldman Sachs BDC, Inc. Announces Series of Fixed Income Investor Meetings

Friday, January 17, 2020 - 9:30pm

Goldman Sachs BDC, Inc. (GS BDC) (NYSE:GSBD) announced that it, together with a recognized investment bank, will be conducting a series of fixed income investor meetings.

Key Points: 
  • Goldman Sachs BDC, Inc. (GS BDC) (NYSE:GSBD) announced that it, together with a recognized investment bank, will be conducting a series of fixed income investor meetings.
  • Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act.
  • Goldman Sachs BDC, Inc. is a specialty finance company that has elected to be regulated as a business development company under the Investment Company Act of 1940.
  • GS BDC was formed by The Goldman Sachs Group, Inc. (Goldman Sachs) to invest primarily in middle-market companies in the United States, and is externally managed by Goldman Sachs Asset Management, L.P., an SEC-registered investment adviser and a wholly-owned subsidiary of Goldman Sachs.

Bank of America Declares Preferred Stock Dividends

Friday, January 17, 2020 - 9:15pm

1 Each series of preferred stock, other than Series F and Series G, is represented by depositary shares.

Key Points: 
  • 1 Each series of preferred stock, other than Series F and Series G, is represented by depositary shares.
  • Dividend payments are made on a quarterly basis for each series of preferred stock, other than Series X, Series AA, Series DD, and Series FF, for which dividends are paid on a semi-annual basis.
  • Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services.
  • Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

Hilltop Holdings Inc. Announces Fourth Quarter and Full Year 2019 Earnings Conference Call and Webcast

Friday, January 17, 2020 - 10:00pm

Hilltop Holdings Inc. (NYSE: HTH) (Hilltop), a Dallas-based financial holding company, will host a live webcast and conference call at 8:00 AM Central (9:00 AM Eastern) on Friday, January 31, 2020.

Key Points: 
  • Hilltop Holdings Inc. (NYSE: HTH) (Hilltop), a Dallas-based financial holding company, will host a live webcast and conference call at 8:00 AM Central (9:00 AM Eastern) on Friday, January 31, 2020.
  • Hilltop President and CEO Jeremy B. Ford and Hilltop CFO William B. Furr will review fourth quarter and full year 2019 financial results.
  • Hilltop Holdings is a Dallas-based financial holding company.
  • Hilltop Holdings broker-dealer subsidiaries, Hilltop Securities Inc. and Hilltop Securities Independent Network Inc., provide a full complement of securities brokerage, institutional and investment banking services in addition to clearing services and retail financial advisory.

A Smarter Home-Buying Option is Now Available in the Seattle Area

Friday, January 17, 2020 - 8:47pm

ZeroDown , which has already helped people all over the Bay Area find homes with no down payment, today announced its expansion to the Greater Seattle Area.

Key Points: 
  • ZeroDown , which has already helped people all over the Bay Area find homes with no down payment, today announced its expansion to the Greater Seattle Area.
  • ZeroDown is now available in the following Washington counties: King, Snohomish, Pierce, Thurston, Kitsap, Skagit Island, Lewis and Mason.
  • People can choose any home on the market as their ZeroDown home, whether its in Seattle, Everett, Redmond, Bellevue, Olympia, Tacoma or somewhere in between.
  • The company serves customers in the Bay Area, and the Greater Seattle Area, with its headquarters in San Francisco.

Daniel Goldberger Named New York Office Head

Friday, January 17, 2020 - 8:24pm

International law firm Dorsey & Whitney LLP is pleased to announce that it has named litigation Partner Dan Goldberger as head of the Firms New York office effective January 1, 2020.

Key Points: 
  • International law firm Dorsey & Whitney LLP is pleased to announce that it has named litigation Partner Dan Goldberger as head of the Firms New York office effective January 1, 2020.
  • View the full release here: https://www.businesswire.com/news/home/20200117005465/en/
    Dorsey has named litigation Partner Dan Goldberger as head of the Firms New York office effective January 1, 2020.
  • (Photo: Dorsey & Whitney LLP)
    Mr. Goldberger succeeds Sandy Edelman as Office Head after previously serving as her deputy.
  • I am pleased to welcome Dan as the new Head of our New York office and I would like to thank Sandy Edelman for serving as the interim Office Head, noted Dorsey Managing Partner Bill Stoeri.

KBRA Releases Monthly Auto Loan Indices for December

Friday, January 17, 2020 - 7:48pm

Kroll Bond Rating Agency (KBRA) releases its Auto Loan Indices for the month of December and reports on delinquency roll rates from asset-level disclosures.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) releases its Auto Loan Indices for the month of December and reports on delinquency roll rates from asset-level disclosures.
  • Auto loan ABS credit performance showed signs of improvement in December, with KBRAs Prime Auto Loan Index and Non-Prime Auto Loan Index posting stable or lower delinquency and loss rates.
  • Despite the favorable month-over-month and year-over-year performance, we expect delinquency and loss rates to remain elevated over the next couple of months, before beginning a downward trend in March (February collection period), as borrowers begin to receive tax refunds, providing an additional source of cash flow to help them pay their auto loans.

YARA Goes Live With GTC’s @GlobalTrade & SWIFT to Digitize Bank Guarantees

Friday, January 17, 2020 - 7:28pm

GlobalTrade Corporation (GTC) has announced today that Yara International ASA, a leading Norwegian chemical company, has gone live with its @GlobalTrade Multi-bank Trade Finance Platform for managing issued and received bank guarantees.

Key Points: 
  • GlobalTrade Corporation (GTC) has announced today that Yara International ASA, a leading Norwegian chemical company, has gone live with its @GlobalTrade Multi-bank Trade Finance Platform for managing issued and received bank guarantees.
  • Yara will use GTCs @GlobalTrade Guarantee Issuance and Guarantee Receipt Systems through SaaS implementation.
  • Our @GlobalTrade Platform provides Yara with the ability to handle the complete transaction lifecycle while complying with SWIFT standards.
  • We are delighted that YARA has chosen the SWIFT Digital Trade Channel as we continue to drive innovation in trade.