Federal Deposit Insurance Corporation

Farmers & Merchants Bank of Long Beach Reports 2021 First-Quarter Results

Thursday, April 15, 2021 - 1:05pm

b'Farmers & Merchants Bank of Long Beach (\xe2\x80\x9cF&M\xe2\x80\x9d or the \xe2\x80\x9cBank\xe2\x80\x9d) (OTCQB: FMBL) today reported financial results for the quarter ended March 31, 2021.\n\xe2\x80\x9cWe are pleased to report on an outstanding first quarter for 2021, as total assets surpassed the milestone $10 billion mark for the first time, and further increases were achieved in total deposits and net loans,\xe2\x80\x9d said Henry Walker, president of Farmers & Merchants Bank of Long Beach.

Key Points: 
  • b'Farmers & Merchants Bank of Long Beach (\xe2\x80\x9cF&M\xe2\x80\x9d or the \xe2\x80\x9cBank\xe2\x80\x9d) (OTCQB: FMBL) today reported financial results for the quarter ended March 31, 2021.\n\xe2\x80\x9cWe are pleased to report on an outstanding first quarter for 2021, as total assets surpassed the milestone $10 billion mark for the first time, and further increases were achieved in total deposits and net loans,\xe2\x80\x9d said Henry Walker, president of Farmers & Merchants Bank of Long Beach.
  • Non-interest-bearing deposits represented 38.1% of total deposits at March 31, 2021 compared with 37.9% at December 31, 2020.
  • Walker, Farmers & Merchants Bank provides white-glove service to clients at 25 branches across Orange County, Long Beach, the South Bay and Santa Barbara, as well as through its Online and Mobile Banking platforms.
  • Farmers & Merchants Bank is a California state-chartered bank with deposits insured by the Federal Deposit Insurance Corporation (Member FDIC) and an Equal Housing Lender.

Avidia Bank Announces Partnership with KyckGlobal For Next-Generation Treasury Management Products

Wednesday, April 14, 2021 - 5:09pm

b'Avidia Bank recently announced a partnership with KyckGlobal, Inc. to enhance its current portfolio of treasury management products and services.

Key Points: 
  • b'Avidia Bank recently announced a partnership with KyckGlobal, Inc. to enhance its current portfolio of treasury management products and services.
  • Avidia Bank currently offers a wide variety of services to businesses, including payment services, banking as a service, commercial credit solutions and a host of others.\nThis press release features multimedia.
  • Member FDIC | Member DIF\nKyckGlobal features a cloud-based technology layer featuring a growing array of high-value endpoints from which payment recipients may select.
  • In the new partnership with Avidia Bank, KyckGlobal will deliver an API-first solution to Avidia, providing the ability for Avidia\xe2\x80\x99s clients to access a near-instant payment type to add value to Avidia\xe2\x80\x99s current banking products and services.

Cross River Partners with SeedFi to Provide Access to Affordable Financial Products, Fueling Increased Economic Inclusion

Wednesday, April 14, 2021 - 11:30am

Cross River delivers the banking services to support these offerings, including savings accounts, ACH payment services and loan origination.\n\xe2\x80\x9cCross River fully supports and believes in SeedFi\xe2\x80\x99s mission to help Americans break the cycle of debt and realize their financial potential,\xe2\x80\x9d said Jim McGinley, co-founder and CEO of SeedFi.

Key Points: 
  • Cross River delivers the banking services to support these offerings, including savings accounts, ACH payment services and loan origination.\n\xe2\x80\x9cCross River fully supports and believes in SeedFi\xe2\x80\x99s mission to help Americans break the cycle of debt and realize their financial potential,\xe2\x80\x9d said Jim McGinley, co-founder and CEO of SeedFi.
  • \xe2\x80\x9cThe partnership will allow us to more efficiently deliver an exceptional suite of financial products to our customers.\xe2\x80\x9d\nAdditionally, Cross River has provided a $50 million debt facility, which will enable SeedFi to deliver greater and more efficient access to credit for its consumers nationwide.
  • Cross River is a New Jersey state-chartered FDIC insured bank.
  • For more information, please visit Cross River\xe2\x80\x99s website at www.crossriver.com or Twitter @crossriverbank.\nSeedFi is the financial health startup helping Americans build credit, save money, access funds, and plan for the future.

Hope Bancorp to Report 2021 First Quarter Financial Results on Tuesday, April 27, 2021

Monday, April 12, 2021 - 5:30pm

b'Hope Bancorp, Inc. (NASDAQ: HOPE) today announced that the company will report financial results for its 2021 first quarter after the markets close on Tuesday, April 27, 2021.\nA conference call to discuss 2021 first quarter financial results will be held on Wednesday, April 28, 2021 at 9:30 a.m. Pacific Time / 12:30 p.m. Eastern Time.

Key Points: 
  • b'Hope Bancorp, Inc. (NASDAQ: HOPE) today announced that the company will report financial results for its 2021 first quarter after the markets close on Tuesday, April 27, 2021.\nA conference call to discuss 2021 first quarter financial results will be held on Wednesday, April 28, 2021 at 9:30 a.m. Pacific Time / 12:30 p.m. Eastern Time.
  • Headquartered in Los Angeles and serving a multi-ethnic population of customers across the nation, Bank of Hope operates 53 full-service branches in California, Washington, Texas, Illinois, New York, New Jersey, Virginia and Alabama.
  • Bank of Hope specializes in core business banking products for small and medium-sized businesses, with an emphasis in commercial real estate and commercial lending, SBA lending and international trade financing.
  • Bank of Hope is a California-chartered bank, and its deposits are insured by the FDIC to the extent provided by law.

97% of Teens Say Financial Literacy Is Important

Monday, April 12, 2021 - 3:30pm

View the full release here: https://www.businesswire.com/news/home/20210412005631/en/\nAccording to a new survey from Step , the modern-day financial services company built for teens and families, a whopping 97% of teens think financial literacy is important and expressed concerns about being written off by traditional banks.\nAdditionally, as the pandemic has driven more teens to get financially fit, 38% say they still lack the educational resources needed to achieve financial independence.

Key Points: 
  • View the full release here: https://www.businesswire.com/news/home/20210412005631/en/\nAccording to a new survey from Step , the modern-day financial services company built for teens and families, a whopping 97% of teens think financial literacy is important and expressed concerns about being written off by traditional banks.\nAdditionally, as the pandemic has driven more teens to get financially fit, 38% say they still lack the educational resources needed to achieve financial independence.
  • They say it\xe2\x80\x99s extremely important that the bank is:\nAs for traditional banks, teens are well aware of how they\xe2\x80\x99re viewed and say these institutions get a lot of things wrong.
  • The company currently has over one million customers, serving as the first bank account for 88% of Step teens.
  • Step\xe2\x80\x99s financial products are powered by its bank partner Evolve Bank & Trust, Member FDIC and insured up to $250,000.

Settlement Network Zero Hash Partners with Japanese Titan GMO Internet to Offer Instant Settlement in JPY and USD with Stablecoins ("GYEN" and "ZUSD")

Wednesday, April 14, 2021 - 3:07pm

Transactions conducted on Zero Hash settle real-time via a ledger mechanism, in FDIC-insured bank accounts and digital asset wallets.

Key Points: 
  • Transactions conducted on Zero Hash settle real-time via a ledger mechanism, in FDIC-insured bank accounts and digital asset wallets.
  • "Zero Hash enables institutional trading firms, market makers and other counterparties on their network to experience incredible speed and efficiency for JPY funding, settlement, and leveraging their banking network and our stablecoins.
  • Zero Hash is a FinCen-registered Money Service Business as well as a regulated Money Transmitter that can operate in 51 US jurisdictions.
  • Zero Hash is also regulated as a Canadian MSB.\nZero Hash was voted Innovator of the Year by the 2019 Profit & Loss Readers Choice Awards.\n'

Luther Burbank Corporation Announces First Quarter 2021 Earnings Release and Conference Call Dates

Friday, April 9, 2021 - 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 $6.9 billion, total loans of $6.0 billion and total deposits of $5.3 billion as of December31, 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.

LendingClub Bank Supports Extended Paycheck Protection Program (PPP)

Thursday, April 8, 2021 - 2:00pm

With the program extending, LendingClub Bank, National Association ("LendingClub Bank"), will continue to support small and medium-sized businesses (SMBs) with access to more PPP loans through its predecessor in interest Radius Bank ("Radius").

Key Points: 
  • With the program extending, LendingClub Bank, National Association ("LendingClub Bank"), will continue to support small and medium-sized businesses (SMBs) with access to more PPP loans through its predecessor in interest Radius Bank ("Radius").
  • In recognition of this program, Celent announced Radius as the winner of the Celent model bank 2021 award for client innovation during the pandemic for its PPP program.
  • Now that Radius is a part of LendingClub, LendingClub Bank will continue to support PPP loans to those that need it most.
  • LendingClub Corporation (NYSE: LC) is the parent company of LendingClub Bank, National Association, Member FDIC.

LendingClub Schedules First Quarter 2021 Earnings Release and Conference Call

Wednesday, April 7, 2021 - 9:06pm

SAN FRANCISCO, April 7, 2021 /PRNewswire/ -- LendingClub Corporation (NYSE: LC), America's first digital marketplace bank, announced that it will report earnings for the first quarter 2021 on Wednesday, April 28, 2021, after-market hours.

Key Points: 
  • SAN FRANCISCO, April 7, 2021 /PRNewswire/ -- LendingClub Corporation (NYSE: LC), America's first digital marketplace bank, announced that it will report earnings for the first quarter 2021 on Wednesday, April 28, 2021, after-market hours.
  • LendingClub will host a conference call to discuss the first quarter 2021 financial results at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) on the same day.
  • A live webcast of the call will be available at http://ir.lendingclub.com under the Filings & Financials menu in Quarterly Results.
  • LendingClub Corporation (NYSE: LC) is the parent company of LendingClub Bank, National Association, Member FDIC.

DLP Real Estate Capital Appoints Brian Sheehan to Senior Executive Team

Wednesday, April 7, 2021 - 8:15pm

ST. AUGUSTINE, Fla., April 7, 2021 /PRNewswire/ --DLP Real Estate Capital, a private financial services & real estate investment firm, has hired Brian Sheehan as SVP of Risk and Credit Officer.

Key Points: 
  • ST. AUGUSTINE, Fla., April 7, 2021 /PRNewswire/ --DLP Real Estate Capital, a private financial services & real estate investment firm, has hired Brian Sheehan as SVP of Risk and Credit Officer.
  • Mr. Sheehan has led CMBS, Construction and Agency Asset Management departments, managed Loan Surveillance and Risk Management teams, a Team Lead Underwriter, and consulted for the FDIC as part of their Loss Share program.
  • "I am thrilled to join the DLP team," commented Brian.
  • Don Wenner, Founder and CEO of DLP Real Estate Capital commented, "I am very pleased to welcome Brian to DLP.