Federal Deposit Insurance Corporation

Moomoo's Cash Sweep Program Offers A Highly Competitive 5.1% APY; Increases Cash Management Efficiency

Retrieved on:

Monday, November 27, 2023

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The highly competitive 5.1% APY currently offers one of the highest yields for uninvested cash in the entire brokerage industry.

Key Points:

The highly competitive 5.1% APY currently offers one of the highest yields for uninvested cash in the entire brokerage industry.
The Cash Sweep program does not impact the purchasing power of brokerage accounts because the swept funds in the program bank accounts are still part of a customer's securities account.
With just several taps on a screen, new moomoo clients can activate the Cash Sweep feature and earn interest on their uninvested cash.
Notably, moomoo's Cash Sweep program has no cap on the interest-bearing principal and no minimum balance requirements for the accounts.

First Citizens Announces Expanded Commitment to Communities in Northern California and Eastern Massachusetts

Retrieved on:

Tuesday, November 14, 2023

RALEIGH, N.C., Nov. 14, 2023 /PRNewswire/ -- First Citizens Bank today announced an amendment to its existing Community Benefits Plan agreement with the National Community Reinvestment Coalition (NCRC) and its members that extends the bank's longstanding community support to Northern California and Massachusetts following its March acquisition of Silicon Valley Bank.

Key Points:

This new First Citizens commitment also comes in addition to the $16 billion Community Benefits Plan that First Citizens announced in February 2021.
"Silicon Valley Bank was an important component of the California economy and is now continuing to support the economy as a division of First Citizens Bank.
Now it's about implementation – and we look forward to working with First Citizens to ensure these investments reach communities of color."
Now operating as a division of First Citizens Bank, Silicon Valley Bank has resumed serving some of the world's most innovative companies and investors.

Pacific Coast Bankers’ Bancshares Welcomes Former FDIC Executive Kathy Moe Lonowski as Board Member

Retrieved on:

Thursday, November 9, 2023

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WALNUT CREEK, Calif., Nov. 09, 2023 (GLOBE NEWSWIRE) -- Pacific Coast Bankers’ Bancshares and its subsidiary bank (PCBB) are excited to announce that Kathy Moe Lonowski has been appointed to our Board of Directors. With an impressive background in banking, compliance, and strategic execution, she brings a wealth of knowledge and experience in the field, which will benefit both PCBB and its customers.

Key Points:

WALNUT CREEK, Calif., Nov. 09, 2023 (GLOBE NEWSWIRE) -- Pacific Coast Bankers’ Bancshares and its subsidiary bank (PCBB) are excited to announce that Kathy Moe Lonowski has been appointed to our Board of Directors.
With over 38 years of banking regulatory experience, Kathy has held several executive positions during her career.
She also served as Deputy Regional Director, Risk Management Supervision, as well as Field Supervisor, Risk Management Supervision at the FDIC.
I look forward to working with the other board members and leveraging my insights to further our shared mission.”

DFS ALERT: Bragar Eagel & Squire, P.C. is Investigating Discover Financial Services on Behalf of Long-Term Stockholders and Encourages Investors to Contact the Firm

Retrieved on:

Thursday, November 9, 2023

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Our investigation concerns whether the board of directors of DFS have breached their fiduciary duties to the company.

Key Points:

Our investigation concerns whether the board of directors of DFS have breached their fiduciary duties to the company.
According to the complaint, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and compliance policies.
On July 20, 2022, DFS issued a press release announcing its financial results for the second quarter of 2022.
On July 19, 2023, DFS issued a press release announcing its financial results for the second quarter of 2023.

Savi Financial Corporation Earns $559,000 in the Third Quarter of 2023; Results Reflect Robust Loan Growth and Strong Credit Quality

Retrieved on:

Tuesday, October 31, 2023

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Results for the third quarter of 2023 were driven by strong loan growth and continued improvements in the Company’s CECL modeling.

Key Points:

Results for the third quarter of 2023 were driven by strong loan growth and continued improvements in the Company’s CECL modeling.
“Our third quarter 2023 operating results were driven by another strong quarter of loan and deposit growth,” said Michal D. Cann, Chairman and President of Savi Financial Corporation.
Another highlight during the quarter was receiving regulatory approval from the Federal Deposit Insurance Corporation for the formation of Orca Bank.
Due to strong credit quality and re-evaluation of our investment portfolio, the Company recorded a $350,000 credit to its reserves in the third quarter of 2023.

Deadline in 4 Days for Discover Financial Services Investors: Kessler Topaz Meltzer & Check, LLP Reminds Discover Financial Services (DFS) Investors of Filing Deadline in Class Action Lawsuit

Retrieved on:

Friday, October 27, 2023

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As a result of DFS’s materially misleading statements and omissions to the public, DFS’s investors have suffered significant losses.

Key Points:

As a result of DFS’s materially misleading statements and omissions to the public, DFS’s investors have suffered significant losses.
Kessler Topaz Meltzer & Check, LLP encourages DFS investors who have suffered significant losses to contact the firm directly to acquire more information.
The class action complaint against DFS, Mannacio v. Discover Financial Services., et al., Case No.
The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel.

SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Discover Financial Services of Class Action Lawsuit and Upcoming Deadline – DFS

Retrieved on:

Friday, October 27, 2023

NEW YORK, Oct. 27, 2023 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against Discover Financial Services (“DFS” or the “Company”) (NYSE: DFS) and certain officers.

Key Points:

NEW YORK, Oct. 27, 2023 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against Discover Financial Services (“DFS” or the “Company”) (NYSE: DFS) and certain officers.
To discuss this action, contact Robert S. Willoughby at [email protected] or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext.
Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions.

Territorial Bancorp Inc. Announces Third Quarter 2023 Results

Retrieved on:

Friday, October 27, 2023

The Board of Directors approved a quarterly cash dividend of $0.05 per share, representing Territorial Bancorp Inc.’s 56th consecutive quarterly dividend.

Key Points:

The Board of Directors approved a quarterly cash dividend of $0.05 per share, representing Territorial Bancorp Inc.’s 56th consecutive quarterly dividend.
HONOLULU, Hawaii, Oct. 27, 2023 (GLOBE NEWSWIRE) -- Territorial Bancorp Inc. (NASDAQ: TBNK) (the “Company”), headquartered in Honolulu, Hawaii, the holding company parent of Territorial Savings Bank, announced net income of $880,000, or $0.10 per diluted share, for the three months ended September 30, 2023.
The dividend is expected to be paid on November 24, 2023, to stockholders of record as of November 9, 2023.
Total interest income was $17.38 million for the three months ended September 30, 2023, compared to $16.15 million for the three months ended September 30, 2022.

Broadway Financial Corporation Announces Repurchase of Shares

Retrieved on:

Tuesday, October 31, 2023

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Broadway Financial Corporation (“Broadway” or the “Company”) (Nasdaq Capital Market: “BYFC”), parent company of City First Bank, National Association, today reported that Broadway recently purchased 1,958,173 shares of the Company’s Class A (voting) Common Stock from the Federal Deposit Insurance Corporation (the “FDIC”), which obtained the shares when it was appointed receiver for First Republic Bank upon its closure earlier this year.

Key Points:

Broadway Financial Corporation (“Broadway” or the “Company”) (Nasdaq Capital Market: “BYFC”), parent company of City First Bank, National Association, today reported that Broadway recently purchased 1,958,173 shares of the Company’s Class A (voting) Common Stock from the Federal Deposit Insurance Corporation (the “FDIC”), which obtained the shares when it was appointed receiver for First Republic Bank upon its closure earlier this year.
The purchased shares represented just under 4.0% of the Company’s total voting shares prior to the purchase, and over 2.6% of the Company’s total common equity.
Broadway purchased the shares at a price of $0.9095 per share, which represented the 20-day volume weighted average price for the Class A shares over the period ended October 24, 2023.
Pro forma for the reverse stock split (and the Company’s purchase of shares from the FDIC), the number of outstanding voting shares of Class A Common Stock will be 5,921,046 shares and the total number of outstanding shares of Common Stock will be 9,019,187 shares.

First Trust Advisors L.P. Announces Distribution for First Trust Enhanced Short Maturity ETF

Retrieved on:

Monday, October 30, 2023

First Trust Advisors L.P. ("FTA") is a federally registered investment advisor and serves as the Fund's investment advisor.

Key Points:

First Trust Advisors L.P. ("FTA") is a federally registered investment advisor and serves as the Fund's investment advisor.
FTA and its affiliate First Trust Portfolios L.P. ("FTP"), a FINRA registered broker-dealer, are privately-held companies that provide a variety of investment services.
Volatility is the characteristic of a security, an index or a market to fluctuate significantly in price within a short time period.
Such exposures could cause the Fund's net asset value to experience significant increases or declines in value over short periods of time.