Bank

Luther Burbank Corporation Announces Second Quarter 2020 Earnings Release and Conference Call Dates

Friday, July 10, 2020 - 6:00pm

Luther Burbank Corporation is a publicly owned company traded on the NASDAQ Capital Market under the symbol LBC.

Key Points: 
  • Luther Burbank Corporation is a publicly owned company traded on the NASDAQ Capital Market under the symbol LBC.
  • The Company is headquartered in Santa Rosa, California with total assets of $7.1 billion, total loans of $6.2 billion and total deposits of $5.3 billion as of March 31, 2020.
  • It operates primarily through its wholly-owned subsidiary, Luther Burbank Savings, an FDIC insured, California-chartered bank.
  • Luther Burbank Savings executes on its mission to improve the financial future of customers, employees and shareholders by providing personal banking and business banking services.

TownSq Partners with CINC Systems to Provide Integrated Technology to More Clients

Friday, July 10, 2020 - 4:28pm

CINC empowers businesses with access to association management systems, cloud accounting, and integrated banking options, all in one convenient location.

Key Points: 
  • CINC empowers businesses with access to association management systems, cloud accounting, and integrated banking options, all in one convenient location.
  • CINC Systems provides transformational technology and services for the community association industry, redefining the way its clients and partners do business.
  • Founded in 2005, CINC Systems became the first Internet-based integrated accounting and property management system for the community association industry.
  • Since its founding, CINC Systems has experienced steady growth, with clients in 26 states and over 100 partner banking branch locations.

DGAP-News: Nordic Investment Bank (NIB): NIB's updated Statutes enter into force on 29 July

Friday, July 10, 2020 - 11:02am

The Nordic and Baltic owner countries of the Nordic Investment Bank (NIB) have approved amendments to update the Bank's Statutes to ensure continued adherence with sound banking principles.

Key Points: 
  • The Nordic and Baltic owner countries of the Nordic Investment Bank (NIB) have approved amendments to update the Bank's Statutes to ensure continued adherence with sound banking principles.
  • The changes will enter into force on 29 July 2020.
  • In order to adapt NIB to these developments and to secure its strong position for the future, the owner countries have updated the Bank's Statutes.
  • Discontinuing the special loan facilities for Project Investment Loans (PIL) and Environmental Investment Loans (MIL).

ESMA clarifies external support within the meaning of Article 35 of the MMF Regulation

Friday, July 10, 2020 - 12:07am

09 July 2020

Key Points: 
  • 09 July 2020

    COVID-19

    Fund Management

    ESMA is issuing this statement in the context of financial markets authorities recent actions to mitigate the impact of COVID-19 on the EUs financial markets, to clarify the potential interaction between the intermediation of credit institutions and the requirements of Article 35 of the MMF Regulation on external support.

  • It also aims to coordinate the supervisory approaches of national competent authorities (NCAs) in light of these and any future liquidity challenges for MMFs in the context of the current COVID-19 pandemic.
  • In particular, the market liquidity brought by some of these measures mayhavealso indirectly benefited MMFs through the intermediation of credit institutions.
  • ESMA, together with NCAs, will continue to closely monitor the situation and will take or recommend any measures necessary to mitigate the impact of COVID-19.

ESMA clarifies external support within the meaning of Article 35 of the MMF Regulation

Friday, July 10, 2020 - 12:05am

09 July 2020

Key Points: 
  • 09 July 2020

    COVID-19

    Fund Management

    ESMA is issuing this statement in the context of financial markets authorities recent actions to mitigate the impact of COVID-19 on the EUs financial markets, to clarify the potential interaction between the intermediation of credit institutions and the requirements of Article 35 of the MMF Regulation on external support.

  • It also aims to coordinate the supervisory approaches of national competent authorities (NCAs) in light of these and any future liquidity challenges for MMFs in the context of the current COVID-19 pandemic.
  • In particular, the market liquidity brought by some of these measures mayhavealso indirectly benefited MMFs through the intermediation of credit institutions.
  • ESMA, together with NCAs, will continue to closely monitor the situation and will take or recommend any measures necessary to mitigate the impact of COVID-19.

EQ Bank launches new Joint Savings Plus Account

Thursday, July 9, 2020 - 10:00pm

In yet another challenge to the status quo, EQ Bank's new joint account removes unreasonable complexity from traditional banking, delivering on EQ Bank's mission to provide smarter, safer, and easier ways for Canadians to bank.

Key Points: 
  • In yet another challenge to the status quo, EQ Bank's new joint account removes unreasonable complexity from traditional banking, delivering on EQ Bank's mission to provide smarter, safer, and easier ways for Canadians to bank.
  • "EQ Bank continues to see accelerated adoption of its digital banking services, recently surpassing $3B in deposits, tripling the number of people signing up for our savings account, and surpassing 100,000 customers," says Poddar.
  • EQ Bank, the digital banking platform launched in 2016 by Equitable Bank (a federally regulated Schedule I bank), provides state-of-the-art digital banking services.
  • The Savings Plus Account reimagines banking by offering an everyday high interest rate, plus the flexibility of a chequing account, with free transactions, no everyday banking fees, no minimum balances, fast,cheap, and fully transparent international money transfers, and moreall from one account.

Alpine Banks of Colorado Declares Common Shareholder Dividend

Thursday, July 9, 2020 - 9:43pm

About Alpine Banks of Colorado: Alpine Banks of Colorado, through its wholly owned subsidiary Alpine Bank, is a $3.9-billion, employee-owned organization founded in 1973 with headquarters in Glenwood Springs, Colorado.

Key Points: 
  • About Alpine Banks of Colorado: Alpine Banks of Colorado, through its wholly owned subsidiary Alpine Bank, is a $3.9-billion, employee-owned organization founded in 1973 with headquarters in Glenwood Springs, Colorado.
  • With 40 banking offices across Colorado, Alpine Bank employs more than 750 people and serves more than 145,000 customers with personal, business, wealth management*, mortgage and electronic banking services.
  • Alpine Bank has a 5-star rating for financial strength by BauerFinancial, Inc., the nations leading bank rating firm.
  • *Alpine Bank Wealth Management services are not FDIC insured, may lose value and are not guaranteed by the bank.

Hermitage Offshore Services Ltd. (NYSE:PSV) Announces Forbearance Agreement with the Lenders to its $132.9 Million Term Loan Facility

Thursday, July 9, 2020 - 9:32pm

HAMILTON, Bermuda, July 09, 2020 (GLOBE NEWSWIRE) -- Hermitage Offshore Services Ltd. (NYSE:PSV) (Hermitage Offshore, or the Company) announced today that it has executed a forbearance agreement (the Forbearance Agreement) to its $132.9 Million Term Loan Facility dated January 14, 2020 (the Term Loan Facility) with DNB Bank ASA and Skandinaviska Enskilda Banken AB (publ) (together, the Lenders) and DNB Bank ASA, as agent and security agent.

Key Points: 
  • HAMILTON, Bermuda, July 09, 2020 (GLOBE NEWSWIRE) -- Hermitage Offshore Services Ltd. (NYSE:PSV) (Hermitage Offshore, or the Company) announced today that it has executed a forbearance agreement (the Forbearance Agreement) to its $132.9 Million Term Loan Facility dated January 14, 2020 (the Term Loan Facility) with DNB Bank ASA and Skandinaviska Enskilda Banken AB (publ) (together, the Lenders) and DNB Bank ASA, as agent and security agent.
  • These events have given rise to substantial doubt about the Companys ability to continue as a going concern.
  • Hermitage Offshore Services Ltd. is an offshore support vessel company that owns 23 vessels consisting of 10 platform supply vessels, or PSVs, two anchor handling tug supply vessels, or AHTS vessels, and 11 crew boats.
  • The words believe, expect, anticipate, estimate, intend, plan, target, project, likely, may, will, would, could and similar expressions identify forwardlooking statements.

FHLB Dallas Joined by 12 Banks to Award $84K to West 30’s Redemption Company

Thursday, July 9, 2020 - 9:07pm

Twelve banks, all members of the Federal Home Loan Bank of Dallas (FHLB Dallas), have joined FHLB Dallas to provide an $84,500 Partnership Grant Program (PGP) grant to West 30s Redemption Company in Covington, Louisiana.

Key Points: 
  • Twelve banks, all members of the Federal Home Loan Bank of Dallas (FHLB Dallas), have joined FHLB Dallas to provide an $84,500 Partnership Grant Program (PGP) grant to West 30s Redemption Company in Covington, Louisiana.
  • West 30s Redemption Company will use the grant to support residents of the West 30s who have been impacted by the coronavirus pandemic and to fund a variety of administrative activities for its redevelopment program.
  • This funding is a great help to our organization as we continue to work to provide quality, affordable housing for families in the West 30s neighborhood in Covington, said Bryan Burns, founder of West 30s Redemption Company.
  • Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas, said the banking cooperative was pleased to help its member banks support the great work of West 30s Redemption Company.

Bank of America, N.A. Announces Redemption of Floating Rate Senior Bank Notes, Due July 2021

Thursday, July 9, 2020 - 9:10pm

announced today that it will redeem all $1,500,000,000 principal amount outstanding of its Floating Rate Senior Bank Notes, due July 2021 (CUSIP No.

Key Points: 
  • announced today that it will redeem all $1,500,000,000 principal amount outstanding of its Floating Rate Senior Bank Notes, due July 2021 (CUSIP No.
  • Payment of the redemption price for the Notes will be made through the facilities of The Depository Trust Company.
  • 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.