Banking

The Central and Eastern Europe Fund, Inc. Announces Results of the Fund’s Annual Meeting of Stockholders

Retrieved on: 
Friday, July 19, 2024

The Central and Eastern Europe Fund, Inc. (NYSE: CEE) (the “Fund”) announced today the results of its Annual Meeting of Stockholders which was initially called to order and adjourned on June 27, 2024 and reconvened on July 19, 2024.

Key Points: 
  • The Central and Eastern Europe Fund, Inc. (NYSE: CEE) (the “Fund”) announced today the results of its Annual Meeting of Stockholders which was initially called to order and adjourned on June 27, 2024 and reconvened on July 19, 2024.
  • The Fund is non-diversified and can take larger positions in fewer issues, increasing its potential risk.
  • Investing in foreign securities, particularly of emerging markets, presents certain risks, such as currency fluctuations, political and economic changes, and market risks.
  • The various sanctions have adversely affected, and may continue to adversely affect, not only the Russian economy, but also the economies of many countries in Europe, including countries in Central and Eastern Europe.

Amundi US Announces Proposed Transaction Relating to Pioneer Closed-End Funds

Retrieved on: 
Friday, July 19, 2024

On July 9, 2024, Amundi announced that it had entered into a definitive agreement with Victory Capital Holdings, Inc. (“Victory Capital”) to combine the Adviser with Victory Capital, and for Amundi to become a strategic shareholder of Victory Capital (the “Transaction”).

Key Points: 
  • On July 9, 2024, Amundi announced that it had entered into a definitive agreement with Victory Capital Holdings, Inc. (“Victory Capital”) to combine the Adviser with Victory Capital, and for Amundi to become a strategic shareholder of Victory Capital (the “Transaction”).
  • The closing of the Transaction would cause each fund’s current investment advisory agreement with the Adviser to terminate.
  • Under the terms of the Transaction, the fund’s Board of Directors will be asked to approve a new investment advisory agreement for the fund with Victory Capital Management Inc., an affiliate of Victory Capital.
  • If approved by the Board, the fund’s new investment advisory agreement will be submitted to the shareholders of the fund for their approval.

PFD, PFO, FFC, FLC and DFP Announce August, September and October Dividends

Retrieved on: 
Friday, July 19, 2024

An investor should consider the fund’s investment objective, risks, charges and expenses carefully before investing.

Key Points: 
  • An investor should consider the fund’s investment objective, risks, charges and expenses carefully before investing.
  • A distribution rate that is largely comprised of sources other than income may not be reflective of a fund’s performance.
  • FLC invests primarily in preferred and other income-producing securities with a primary investment objective of high current income and a secondary objective of capital appreciation.
  • DFP invests primarily in preferred and other income-producing securities with an investment objective of total return, with an emphasis on high current income.

RiverNorth Opportunities Fund, Inc., RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. and RiverNorth Capital and Income Fund, Inc. Announce Preferred Dividends

Retrieved on: 
Friday, July 19, 2024

RiverNorth Capital and Income Fund, Inc.

Key Points: 
  • RiverNorth Capital and Income Fund, Inc.
    RiverNorth Capital Management, LLC is an investment management firm founded in 2000.
  • RiverNorth is an institutional investment manager to registered funds, private funds and separately managed accounts.
  • Distributions may be paid from sources of income other than ordinary income, such as net realized short-term capital gains, net realized long-term capital gains and return of capital.
  • RiverNorth is not a tax advisor and investors should consult a tax professional for guidance regarding their specific tax situation.

Newrez Celebrates its NAHREP® Top 250 Award Winners in 2024

Retrieved on: 
Friday, July 19, 2024

Across the country, these originators closed over 380 transactions in 2024, totaling over $97m in funding.

Key Points: 
  • Across the country, these originators closed over 380 transactions in 2024, totaling over $97m in funding.
  • “Newrez is incredibly proud to recognize these leaders and their service to their communities in guiding and empowering their clients to achieve their homeownership goals,” said Baron Silverstein, President of Newrez.
  • “We pride ourselves on being a top destination for a diverse group of loan originators who are committed to lasting local relationships, affording more Americans the benefits of homeownership.”

Muncy Columbia Financial Corporation Reports Second Quarter 2024 Earnings

Retrieved on: 
Friday, July 19, 2024

Muncy Columbia Financial Corporation (“Corporation”) (OTCQX: CCFN), parent company of Journey Bank (”Bank”), has released its unaudited consolidated financial statements for the second quarter of 2024.

Key Points: 
  • Muncy Columbia Financial Corporation (“Corporation”) (OTCQX: CCFN), parent company of Journey Bank (”Bank”), has released its unaudited consolidated financial statements for the second quarter of 2024.
  • For the quarter ended June 30, 2024, loans receivable, not held for sale, increased by $19,918,000 while available-for-sale debt securities decreased $4,786,000.
  • Total deposits increased $52,127,000 while short term borrowings decreased $36,627,000 during the quarter ended June 30, 2024.
  • The Corporation remains well capitalized, with an equity to assets ratio of 9.90% as of June 30, 2024 and 9.38% at December 31, 2023.

Oregon Bancorp Announces Quarterly Earnings

Retrieved on: 
Friday, July 19, 2024

Oregon Bancorp, Inc. (OTCBB: ORBN) (the “Company”), parent company of Willamette Valley Bank, reported net income for the second quarter of $801,000 and $0.32 per common share.

Key Points: 
  • Oregon Bancorp, Inc. (OTCBB: ORBN) (the “Company”), parent company of Willamette Valley Bank, reported net income for the second quarter of $801,000 and $0.32 per common share.
  • The Company’s quarterly return on average assets and return on average equity were 0.7% and 4.4%, respectively.
  • This compares to $634,000 in net income and $0.26 per common share outstanding for the quarter ending March 31, 2024.
  • This was largely the result of a strategy to increase earnings through additional investment in securities issued by the United States government.

Bank of Hawai‘i Promotes James C. Polk to President; Appoints Matthew K.M. Emerson Chief Retail Banking Officer

Retrieved on: 
Friday, July 19, 2024

Key Points: 
  • View the full release here: https://www.businesswire.com/news/home/20240718875567/en/
    Bank of Hawai‘i Vice Chair and Chief Retail Banking Officer Matthew K.M.
  • Emerson (Photo: Business Wire)
    As president of the Company, Polk will continue to oversee Commercial Banking, Merchant Services, Cash Management, and Wealth Management.
  • As Bank of Hawai‘i’s newly appointed chief retail banking officer, Vice Chair Matthew K.M.
  • Emerson will be responsible for the bank’s Consumer Banking products, Branch Banking and Contact Center, and will report to James Polk.

AM Best Affirms Credit Ratings of Quanta Insurance Company, Inc.

Retrieved on: 
Friday, July 19, 2024

For current Best's Credit Ratings and independent data on the captive and alternative risk transfer insurance market, please visit www.ambest.com/captive .

Key Points: 
  • For current Best's Credit Ratings and independent data on the captive and alternative risk transfer insurance market, please visit www.ambest.com/captive .
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .
  • For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments .
  • AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry.

KBRA Assigns Preliminary Ratings to OBX 2024-NQM11 Trust

Retrieved on: 
Friday, July 19, 2024

Further information on key credit considerations, sensitivity analyses that consider what factors can affect these credit ratings and how they could lead to an upgrade or a downgrade, and ESG factors (where they are a key driver behind the change to the credit rating or rating outlook) can be found in the full rating report referenced above.

Key Points: 
  • Further information on key credit considerations, sensitivity analyses that consider what factors can affect these credit ratings and how they could lead to an upgrade or a downgrade, and ESG factors (where they are a key driver behind the change to the credit rating or rating outlook) can be found in the full rating report referenced above.
  • A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here .
  • Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above.
  • Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at www.kbra.com .