Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 31 n° 321

Posts Tagged ‘bank’

Trustar Bank CEO, Shaza Andersen, Appointed to the FDIC’s Advisory Committee on Community Banking

Posted by fidest press agency su lunedì, 14 ottobre 2019

Shaza Andersen, founder and Chief Executive Officer of Trustar Bank in Great Falls VA, was recently selected to join the FDIC’s Advisory Committee on Community Banking. The committee, which meets several times per year, provides advice and recommendations to the FDIC on a broad range of community bank policy and regulatory matters. The group of 17 banking professionals from across the country were carefully chosen for their expertise on these matters.
One of four new members, Ms. Andersen is looking forward to serving as a resource for the FDIC and providing input on topics of interest for community banks. “I’m thrilled to join the Committee and hope to add some value to the discussions on community bank policy and regulatory matters,” said Ms. Andersen. Ms. Andersen is a long-time contributor and leader in the local banking community, formerly serving as Vice Chair of the Board of Sandy Spring Bank as well as founder and Chief Executive Officer of WashingtonFirst Bank, before completing its sale to Sandy Spring Bancorp in 2018. In addition, Ms. Andersen founded the WashingtonFirst Youth Foundation (WFYF), a local not-for-profit organization dedicated to enriching the physical, social, and mental well-being of children in the Washington, DC, Metropolitan area. The WFYF is one of several organizations Ms. Andersen donates her time to. Additionally, she has utilized her talents and expertise serving on multiple committees and boards.A favored and sought-after authority on banking and capital market issues, Ms. Andersen has appeared on CNBC and Fox News, and been featured in Forbes Magazine, the Washington Business Journal, and Washingtonian Magazine. Ms. Andersen has been recognized as a prominent leader and businesswoman in the Washington, DC area through numerous awards and recognitions such as Top 25 Women to Watch, Top 100 Powerful Women, and Most Admired CEO, to name a few.

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U.S. Bank Named a 2019 ‘Leading Disability Employer’ by National Organization on Disability

Posted by fidest press agency su mercoledì, 2 ottobre 2019

U.S. Bank is named among 59 organizations as a 2019 NOD Leading Disability Employer™ by The National Organization on Disability (NOD). Now in its fourth year, the NOD Leading Disability Employer Seal recognizes companies that demonstrate exemplary employment practices for people with disabilities. The annual recognition is designed to applaud those organizations that are leading the way in disability hiring and encourage additional companies to tap into the many benefits of hiring talent with disabilities, including strong consumer preference for companies that employ individuals with disabilities and greater employee engagement across the workforce.“We believe in providing opportunities to people from all backgrounds and abilities to help them succeed and grow,” said Andy Cecere, chairman, president and CEO. “We’re proud to be recognized as a Leading Disability Employer by NOD because of our efforts to ensure all employees feel included, empowered and valued.” “These winning organizations understand that by welcoming people with disabilities, they reap the benefits of a more productive and engaged workforce,” said NOD Chairman Governor Tom Ridge. “The preeminent challenge before us is to ensure that people with disabilities enjoy full opportunity for employment, enterprise and earnings, and that employers know how to put their talents to work. We thank U.S. Bank for their leadership and for their commitment to hiring people with disabilities.” U.S. Bank encourages employees to join their Disability Business Resource Group (BRG). Through the BRG, employees with disabilities, as well as any other interested employees, can help foster a diverse, inclusive workplace by providing direct input on business initiatives, supporting recruitment efforts, volunteering in the community, celebrating culture and community and hosting development opportunities for employees.

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20th Annual KBW Community Bank Investor Conference

Posted by fidest press agency su sabato, 27 luglio 2019

MVB Financial Corp. (the “Company”) (NASDAQ: MVBF) today announced that Larry F. Mazza, President and CEO, and Donald T. Robinson, Executive Vice President and CFO, will participate in the 20th Annual KBW Community Bank Investor Conference being held in New York City on July 30 and 31, 2019. During the conference, the management team will hold a series of meetings with institutional investors, as well as give a presentation.Conference participation is by invitation only and registration is mandatory. For more information on the conference or to schedule a one-on-one meeting, please contact your Keefe, Bruyette & Woods representative.MVB Financial Corp. (“MVB Financial” or “MVB”), the holding company of MVB Bank, is publicly traded on The Nasdaq Capital Market® under the ticker “MVBF.”
MVB is a financial holding company headquartered in Fairmont, W. Va. Through its subsidiary, MVB Bank, Inc., and the bank’s subsidiaries, MVB Mortgage and MVB Community Development Corporation, the company provides financial services to individuals and corporate clients in the Mid-Atlantic region.Nasdaq is a leading global provider of trading, clearing, exchange technology, listing, information and public company services.
ir.mvbbanking.com.

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KBRA Assigns Preliminary Ratings to BANK 2019-BNK19

Posted by fidest press agency su venerdì, 19 luglio 2019

Kroll Bond Rating Agency (KBRA) is pleased to announce the assignment of preliminary ratings to 17 classes of BANK 2019-BNK19 (see ratings list below), a $1.3 billion CMBS conduit transaction collateralized by 73 commercial mortgage loans secured by 76 properties.The collateral properties are located in 24 states, with three states, California (25.2%), New York (21.2%), and Florida (10.7%), representing more than 10% of the pool balance. The pool has exposure to most of the major property types, with three each representing 10% or more of the pool balance: office (51.2%), retail (23.6%), and lodging (10.8%). The loans have principal balances ranging from $1.3 million to $100 million for the largest loan in the pool, Grand Canal Shoppes (7.7%), which is secured by a 759,891-sf specialty retail, entertainment, and dining complex located on the Strip in Las Vegas, Nevada. The five largest loans, which also include Waterford Lakes Town Center (6.9%), 350 Bush Street (6.5%), 30 Hudson Yards (6.5%), and University Square (5.5%), represent 33.1% of the initial pool balance, while the top 10 loans represent 54.2%.KBRA’s analysis of the transaction incorporated our multi-borrower rating process that begins with our analysts’ evaluation of the underlying collateral properties’ financial and operating performance, which determine KBRA’s estimate of sustainable net cash flow (KNCF) and KBRA value using our U.S. CMBS Property Evaluation Methodology. On an aggregate basis, KNCF was 7.8% less than the issuer cash flow. KBRA capitalization rates were applied to each asset’s KNCF to derive values that were, on an aggregate basis, 36.3% less than third party appraisal values. The pool has an in-trust KLTV of 88.4% and an all-in KLTV of 96.4%. The model deploys rent and occupancy stresses, probability of default regressions, and loss given default calculations to determine losses for each collateral loan that are then used to assign our credit ratings.For complete details on the analysis, please see our pre-sale report published at http://www.kbra.com. The preliminary ratings are based on information known to KBRA at the time of this publication. Information received subsequent to this release could result in the assignment of ratings that differ from the preliminary ratings.

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Trustar Bank Opens for Business

Posted by fidest press agency su venerdì, 12 luglio 2019

Trustar Bank is pleased to announce that it is officially open. Our branch location at 774A Walker Road, second floor, Great Falls, VA 22066 is open and ready to assist with all your banking needs.“I am pleased to share that Trustar Bank is open for business! We are actively opening accounts and lending. Thank you for your confidence in our team and we are excited to serve this great community,” commented Shaza Andersen, Chief Executive Officer of Trustar.Trustar Bank’s Executive and Commercial Lending office in Tysons located at 1650 Tysons Blvd will be open July 17th and its second branch location in Reston at Spectrum at Reston Town Center will be open at the end of October.“The support of the market, our regulators and community have enabled us to move quickly. Our team is in place and thrilled to be serving the banking needs of our customers,” added Ms. Andersen.About the Bank – Trustar Bank is a full service bank offering comprehensive banking products and services to small and medium sized business and consumers. It is the first bank to be chartered and opened in Virginia in over a decade.

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Regions Bank Renews Alliance with Elavon

Posted by fidest press agency su sabato, 8 giugno 2019

Elavon, a leading global payments provider, and Regions Bank have agreed to extend their long-standing relationship to continue offering innovative and secure payment solutions to Regions’ business customers.Since 1992, Elavon and Regions have grown together to be one of the leading merchant services providers in the Southeast. This partnership brings expanded capabilities to customers of Regions Bank including the latest point-of-sale products, omni-commerce platforms and security solutions.“Elavon’s services are vital for our small business customers,” said Rajive Chadha, head of Regions Consumer Products and Origination Partnerships. “We are pleased to continue to offer their expertise and capabilities to our customers.”“Having worked together for 27 years, Regions is our longest relationship with a financial institution,” said Jamie Walker, CEO, Elavon. “I believe we’ve continued to have such a strong and successful relationship because Elavon and Regions’ people keep customers top-of-mind every day. Together, we help customers more successfully manage their businesses.” Regions is one of the nation’s largest full-service providers of consumer, commercial, mortgage and wealth management banking products and services.

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Bank of Singapore Officially Launches European Wealth Management Subsidiary

Posted by fidest press agency su venerdì, 5 aprile 2019

Bank of Singapore, the private banking arm of Southeast Asia’s second largest financial services group OCBC Bank, officially launched its wealth management subsidiary, BOS Wealth Management Europe S.A. (“BOSWM”) that further positions Bank of Singapore to capture opportunities in Europe.This ushers in a new growth phase to its presence in Europe which has the largest population of ultra-high net worth individuals in 2018 worldwide – 35% of the global population – with an expected increase of 24% over the next five years1.
Heading the Luxembourg-headquartered subsidiary is Chief Executive Officer Mr Anthony Adriano Simcic. Ms Liz Bottomley is the General Manager of the UK branch of BOSWM, based in London, reporting to Mr Simcic.BOSWM presently has 30 employees across its Luxembourg and London offices and plans to continue hiring strategically.
On 1 April 2019, BOSWM held the official opening of the business in Luxembourg, officiated by the Finance Minister of Luxembourg Mr Pierre Gramegna. Singapore’s High Commissioner to the UK Ms Foo Chi Hsia graced the opening of BOSWM’s UK branch in London on 2 April 2019.
Mr Samuel Tsien, the Group Executive Officer of Bank of Singapore’s parent company, OCBC Bank, Ching Wei Hong, Chief Operating Officer of OCBC Bank and Chairman of Bank of Singapore, and Bahren Shaari, Chief Executive Officer of Bank of Singapore, as well as 400 guests were present at both events.Commenting on the official launch of BOSWM, Bank of Singapore Chief Executive Officer, Mr Bahren Shaari, said, “This is an important milestone for Bank of Singapore. Europe has always been an integral part of our business. The setting up of BOS Wealth Management Europe in two leading financial hubs further deepens our commitment to serving the ultra-high and high net worth individuals in this region.”
Luxembourg’s Minister of Finance, Mr. Pierre Gramegna, said, “The launch of BOS Wealth Management Europe is an important occasion. It is the first Singapore financial institution to establish a presence in Luxembourg. The fact that Bank of Singapore has chosen to set up its European hub in the Grand Duchy confirms Luxembourg’s role as one of Europe’s leading wealth and asset management centres.” Prior to the set-up of BOSWM, Bank of Singapore had been serving its European clients from its Singapore headquarters and through its parent company OCBC Bank’s London office.

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U.S. Bank Unveils New Brand Advertising Campaign

Posted by fidest press agency su lunedì, 1 aprile 2019

Hard work in the small, everyday moments can lead to achieving the most important goals in a person’s life, with the support of U.S. Bank as the right financial partner.So says a new brand advertising campaign the company will launch nationally next week. Initially appearing on major network channels during prime viewing hours, the new look, feel and message will make its way across U.S. Bank’s physical and digital footprint shortly thereafter.The new campaign replaces The Power of Possible, which has been running in select markets since 2016.“Our ‘Power of Possible’ campaign was a great start to help us think about how we are central to our customers’ lives,” said Beth McDonnell, chief marketing officer. “This new campaign demonstrates how we are there at the in-between life moments, too. Having a goal – and support from the right partner – helps you bring your vision to life.” A total of six new spots will run during the life of the campaign and will feature stories about customers working toward their goals with persistence and determination. The robust national TV/video advertising effort will be supplemented by banner ads, social media, radio and print. Customer stories will be featured in print issues and digitally with Money, PEOPLE, Parents and REAL SIMPLE telling real stories of how U.S. Bank has helped customers navigate those “in-between” moments toward achieving their goals.

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Signature Bank Announces Availability of Materials for 2019 Annual Shareholders’ Meeting

Posted by fidest press agency su martedì, 12 marzo 2019

Signature Bank (Nasdaq:SBNY), a New York-based full-service commercial bank, announced today the Bank’s proxy materials for its 2019 Annual Meeting of Shareholders are now available and also can be viewed via the Internet.The record date for determination of shareholders entitled to vote at the annual meeting is February 27, 2019. A proxy statement with more information will be sent to shareholders of record along with a 2018 Annual Report. Both documents will be available for viewing through the investor relations section of Signature Bank’s website at http://www.signatureny.com. Signature Bank’s 2019 Annual Meeting of Shareholders will be held on Thursday, April 18, 2019 at 9:00 a.m. (Eastern Time) at The Roosevelt Hotel, 45 East 45th Street, New York, NY, 10017, (212) 661-9600.
Signature Bank, member FDIC, is a New York-based full-service commercial bank with 31 private client offices throughout the New York metropolitan area and Connecticut as well as San Francisco. The Bank’s growing network of private client banking teams serves the needs of privately owned businesses, their owners and senior managers.Signature Bank’s specialty finance subsidiary, Signature Financial, LLC, provides equipment finance and leasing. Signature Securities Group Corporation, a wholly owned Bank subsidiary, is a licensed broker-dealer, investment adviser and member FINRA/SIPC, offering investment, brokerage, asset management and insurance products and services.Signature Bank recently introduced its revolutionary, blockchain-based digital payments platform, Signet™, enabling real-time payments for its commercial clients. The Signet Platform allows the Bank’s commercial clients to make payments in U.S. dollars, 24/7/365, safely and securely, without transaction fees. Signature Bank is the first FDIC-insured bank to launch a blockchain-based digital payments platform, and Signet is the first such platform to be approved for use by the NYS Department of Financial Services. Signature Bank is one of the top 40 largest banks in the U.S., based on deposits (S&P Global Market Intelligence).

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Northern Trust Establishes EU Bank in Luxembourg and Celebrates 50 Years in EMEA

Posted by fidest press agency su martedì, 5 marzo 2019

Northern Trust (Nasdaq: NTRS) has today established its EU bank in Luxembourg, marking a significant milestone in the expansion of the company’s 50-year presence across Europe, Middle East and Africa (EMEA).The establishment of Northern Trust Global Services Societas Europaea (NTGS SE) underscores Northern Trust’s strategic focus and growth strategy in continental Europe. Headquartered in Luxembourg and with branches in the UK, Netherlands, Sweden and Abu Dhabi, Northern Trust’s EU bank will ensure continuity of the financial institution’s global products and services after the UK leaves the European Union. Northern Trust’s EMEA headquarters will remain in London, UK
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 20 U.S. states and Washington, D.C., and across 23 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of December 31, 2018, Northern Trust had assets under custody/administration of US$10.1 trillion, and assets under management of US$1.1 trillion. For more than 125 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation.

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ACI Worldwide Propels National Bank of Kuwait to Become Country’s First Bank to Implement SWIFT gpi

Posted by fidest press agency su giovedì, 3 gennaio 2019

ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic payment and banking solutions, today announced that National Bank of Kuwait (NBK) has successfully launched SWIFT Global Payments Innovation (gpi) services for its customers, utilizing the built-in gpi capabilities that are integrated into ACI’s flexible, global payments engine. NBK customers can now benefit from same day transfer and use of funds, reduced timelines and greater transparency.NBK, a pioneering bank in Kuwait and the Middle East and a long-time ACI customer, achieved the milestone through upgrading its existing implementation; joining a growing global gpi community that now includes nearly 300 banks. SWIFT gpi has quickly become the new de facto standard in global payments, with member banks able to send and receive funds quickly and securely to anyone, anywhere in the world, with full transparency over where a payment is at any given moment. With the new integration, NBK continues to strengthen its position to develop value-add services for customers that leverage the enriched data available as part of the new format.ACI Worldwide, the first certified vendor of SWIFT gpi solutions and a SWIFT partner for more than twenty years, enables banks around the world to take full advantage of real-time, cross-border payment opportunities with a direct connection into the SWIFT central database to monitor inbound and outbound gpi transactions. The gpi Data Service and gpi Connect capabilities are available as part of ACI’s UP Real-Time Payments solution and ACI Money Transfer System.“Effectively leveraging the richer data of SWIFT gpi messages will allow NBK to further optimize the customer experience and differentiate against competitors,” said Craig Ramsey, Head of Real-Time Payments, ACI Worldwide. “NBK now delivers customers greater transparency and traceability in cross-border transactions, which facilitates better communication and reconciliation for the bank’s customers.” “NBK is committed to maintaining its leading position in Kuwait through ongoing technological innovations – and this means improving efficiency and adopting the latest advancements to offer better services to customers through the implementation of SWIFT gpi,” said Mohammed Al-Khorafi, General Manager – Operations Group, NBK. “ACI’s certified gpi module enabled us to configure ACI’s Money Transfer System and lead as the first bank in Kuwait, and one of the first in the wider MENA region, to become a SWIFT gpi member bank.”

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RES Announces Regulatory Approval of Pennsylvania’s First Bat Conservation Bank

Posted by fidest press agency su lunedì, 24 dicembre 2018

RES, the nation’s largest environmental solutions provider, has received approval from the U.S. Fish & Wildlife Service (USFWS) for Pennsylvania’s first bat conservation bank. It is also the state’s first species conservation bank, and represents several years of close coordination with the USFWS to define and create greater certainty and predictability for projects requiring bat habitat mitigation.To create the Pennsylvania Statewide Bat Conservation Bank, RES coordinated with the USFWS Pennsylvania field office over the course of three years to select a site, develop a crediting methodology, and finalize the first endangered species conservation banking instrument in the State.The bank is located within the known range of the Indiana bat and includes more than 438 contiguous acres of high quality habitat used by two Indiana bat maternity colonies. Although Indiana bats have experienced significant population declines due to a malady known as white-nose syndrome, the Indiana bat maternity colonies in Washington and Greene Counties persist.“Conservation banking creates a collaborative incentive-based approach where habitat for listed species is treated as an asset rather than a liability,” said Elliott Bouillion, President and CEO of RES. “By permanently protecting high-quality forested habitat in a critical Indiana bat habitat zone, the bank provides an advanced compensatory mitigation mechanism to support economic development while complying with the Endangered Species Act and the relevant federal mitigation initiatives.”“The conservation bank provides high-quality, self-sustaining bat habitat to offset statewide impacts to the federally listed Indiana bat (Myotis sodalis) and its habitat in a biologically significant area,” said Dr. Alex Silvis, Ecologist and Qualified Bat Biologist for RES.The maternity area includes three partially conjoined maternity colonies consisting of primary and alternate roost trees and the surrounding 2.5-3-mile foraging habitat (USFWS 2016). Acoustic surveys on the site indicate the likely presence of 8 bat species in addition to Indiana bats, including Northern long-eared (Myotis septentrionalis) and Tri-colored bats (Perimyotis subflavus).In addition to providing extremely high-quality bat habitat, the bank site abuts two known Biodiversity areas identified by the Pennsylvania Department of Conservation and Natural Resources, and hosts the only known Mixed-Mesophysic Forest Target Plant Community (an extremely rich terrestrial community type on deep soils in protected concave coves or lower slopes) in Greene County, PA.

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Italian banks’ asset-quality trends positive through 2018

Posted by fidest press agency su lunedì, 10 settembre 2018

Scope has long indicated that it views the large stock of Italian non-performing exposures (NPEs) as a legacy issue, and manageable for most Italian banks. From their peak, NPEs had declined by a quarter to EUR 258bn by March 2018. In a report out today, Scope says the rapid decline in NPEs will continue and expects gross sector NPEs to fall to around EUR 200bn by the end of 2018 and below EUR 150bn in 2019.Just as growth in 2017 was driven by UniCredit’s EUR 17bn Project Fino portfolio sale, 2018 has seen several mega-deals, including the EUR 24bn GACS-assisted NPL securitisation by MPS; the EUR 18bn NPL sale by the Venetian banks to SGA; and the EUR 10.8bn transaction between Intesa and Intrum. BPM and UBI also completed sizeable transactions (EUR5.1bn and EUR3.5bn, respectively), and several smaller banks transacted significant deals.
Intesa (A, Stable) and UniCredit (A, Stable) have both published business plans which explicitly include NPE reduction as a strategic priority and they have already executed significant actions aimed at such reductions. Both banks are rapidly progressing towards their asset-quality targets and will in Scope’s view over-deliver.In Q2 2018, Intesa reported a gross NPE ratio of 9.3% (net NPE ratio 4.6%). That’s already half way to the long-term target in the first six months of the bank’s four-year plan.UniCredit is only midway through Transform 2019, initially presented in December 2016. Since then, it has improved on its targets twice: in December 2017 it revised down its 2019 NPE ratio target to 7.8% (from 8.4%) and in the Q2 2018 results presentation it slightly reduced the 2018 target for non-core run-down to EUR 19bn from EUR 19.2bn. The run-down of non-core should be completed by 2021.Troiano added a general note of caution, however: “There are some clouds on the horizon, mostly related to policy uncertainty following the March elections,” he said.However, the renewal of the GACS scheme until March 2019 will likely continue to support the market in the last quarter of the year and into the beginning of 2019, according to Scope.On the political front, the agreement between League and M5S seeks to undo a series of reforms that Scope had deemed positive. Specific to banks, the government agreement mentions the suppression of any regulation that allows action against debtors without court authorisation. This would lengthen NPE recovery time and probably lower recovery rates for banks. The roll-back of pension reform is another key point of the government agreement.On top of this, the macroeconomic outlook has softened: in July, the Bank of Italy cut its GDP growth forecast for 2018 from 1.5% to 1.3%, and for 2019 from 1.2% to 1.0%. If the uncertainty has a more prolonged impact on growth, banks could be looking at a new wave of credit deterioration while also reducing investor appetite for NPE sales.

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Signature Bank Appoints Two Teams to Its New San Francisco Banking Office

Posted by fidest press agency su lunedì, 10 settembre 2018

Signature Bank (Nasdaq: SBNY), a New York-based full-service commercial bank, announced today the appointment of two private client banking teams, based at its San Francisco office on 201 Mission Street.Dale Zeigler and Sumiko Sheaffer were each named Group Director – Senior Vice President and will lead their own teams. These banking professionals previously worked with Joe Petitti, Signature Bank’s Head of West Coast Operations.Zeigler brings 33 years of commercial banking experience to his new role, with more than 20 years spent in the San Francisco market. Prior to joining Signature Bank, Zeigler was Vice President and Principal Business Relationship Manager with Wells Fargo Bank in San Francisco for 12 years, where he managed the financial needs of a large portfolio of middle market companies across various industries, including non-profit organizations. Earlier, Zeigler was Senior Vice President and Business Banking Manager at Business Bank of California (South San Francisco) and Assistant Vice President in Commercial Lending for The Pacific Bank in San Francisco.Sheaffer has 32 years of banking experience, 27 of which were spent at MUFG Union Bank, N.A. in San Francisco. Most recently, she served as Vice President and Relationship Manager in Asian Corporate Banking. In this role, Sheaffer managed U.S. subsidiaries of foreign corporations. Sheaffer was instrumental in acquiring large corporate accounts and building international banking relationships. She also held the previous role of Vice President and Relationship Manager for San Francisco Business Banking at MUFGJoining Zeigler’s team are Sergey Shikhvarg, named Associate Group Director and Charlotte Elopre, who was appointed to the post of Senior Client Associate-Officer.Most recently, Shikhvarg was a Vice President and Senior Commercial Relationship Manager at Bridge Bank, a division of Western Alliance Bank in San Francisco, where he managed commercial banking relationships. His banking career began at Wells Fargo as a Vice President and Principal Business Relationship Manager for San Francisco Business Banking.
Elopre, with 13 years of banking-related experience, worked with Zeigler at Wells Fargo in San Francisco as a Business Associate II, supporting business relationship managers. She also was a Personal Banker II for Wells Fargo’s Alameda, Calif. branch, and Assistant Branch Manager as well as Personal Banker for Wells Fargo’s San Leandro, Calif. branch.

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Strategic Review of Catella Bank

Posted by fidest press agency su domenica, 3 giugno 2018

In order to ensure that Catella Bank’s various operations get the best possible conditions for development, and to achieve operational efficiency and optimized capital structure for the Catella Group, a strategic review has been initiated.Currently, consolidation is taking place in Wealth Management in Luxembourg, where Nordic actors are leaving, creating a need for customers to find a counterparty who can understand and meet their demands. Catella intends to evaluate solutions to create optimal conditions to meet the customer needs and for continuing to operate in the Wealth Management-segment, through partnerships, or other types of collaborations, within the framework of a structure that does not bring about a consolidated situation for the Catella Group.The current structure means that the consolidation of Catella Bank in the Catella Group entails extensive capital and regulatory requirements for operations outside of Catella Bank, which in turn affects the cost- and capital structure.”Catella has grown its Wealth Management business rapidly in recent years. We have invested in skilled employees and, through cooperation with other parts of Catella, created attractive exposures and a high quality offer which is much appreciated by investors and customers. This business must be conducted through a structure that ensures customer needs and is effective from a cost- and capital perspective for the Group.” says Knut Pedersen, CEO of Catella.In connection to the review of the structure it is natural to ensure, for continued growth, that the card issuing operations have an efficient operating platform. Work has begun, together with the business area management, to create the necessary conditions, and evaluate the structure, for the business.Catella has previously announced that a strategic review of Catella Bank’s card acquiring operations is ongoing and is expected to be completed during the coming quarter.

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Community Valley Bank Buying Southern California Branch from Umpqua Bank

Posted by fidest press agency su giovedì, 29 marzo 2018

Community Valley Bank (“CVB”), a wholly owned subsidiary bank of CMUV Bancorp (OTC Pink: CMUV) (the “Company”), today announced the signing of a purchase and assumption agreement to acquire a branch location from Roseburg, Oregon based Umpqua Bank (“Umpqua”).The branch location in Borrego Springs, CA with approximately $35 million in deposits is the only full-service branch location in the city of Borrego Springs. The branch location was originally acquired by Umpqua as part of its acquisition of Sterling Financial Corporation, completed in April 2014. The branch will begin operating under the CVB name as CVB’s fifth branch location in Southern California immediately following the close of the transaction. The deposit premium is estimated to be 3.25% of deposits acquired.“We are excited to add this branch location to our footprint in Southern California and deploy our growing capital base into a new market,” said Jon Edney, President and CEO of CVB. “This transaction will allow us to extend our personalized service and products to the Borrego Springs community. We look forward to welcoming the Borrego Springs branch employees and customers to Community Valley Bank.” “As customer preferences change how we provide banking services to our customers, Umpqua remains strongly committed to supporting our communities, especially those where this shift results in a store closure or consolidation,” said Brian Read, Umpqua’s executive vice president of retail banking. “In this case, we’re pleased that Community Valley Bank has agreed to purchase our Borrego Springs location and will continue providing personal banking services locally. The partnership is a win-win for customers and the community.” The purchase of the branch location is expected to close in early third quarter of 2018 and is subject to certain closing conditions, including receipt of regulatory approval. MJC Partners, LLC acted as financial advisor to CVB and Breakwater Law Group acted as legal counsel.

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Fortune Recognizes U.S. Bank as a 2018 World’s Most Admired Company

Posted by fidest press agency su martedì, 23 gennaio 2018

AboutUs-PlaceholderFortune magazine today named U.S. Bank a World’s Most Admired Company, recognizing several of U.S. Bank’s attributes as most admired among all companies and naming it the world’s most admired superregional bank for the eighth consecutive year. Across the 680 companies across all industries, Fortune ranked U.S. Bank as No. 1 in both Management Quality and Use of Corporate Assets, as well as No. 2 in Value as a Long-Term Investment, No. 5 in People Management and No. 6 in both Financial Soundness and Social Responsibility.“It’s an honor to be recognized among companies that are anticipating and shaping the future,” said Andy Cecere, president and chief executive officer of U.S. Bancorp. “With the world around us changing faster than at any time in human history, positioning our company for growth tomorrow means creating the future today. I’m proud to work with our 73,000 U.S. Bankers up to take on this challenge with enthusiasm and integrity.”Fortune also named U.S. Bank the most admired superregional bank for the eighth consecutive year. Among superregional banks, the bank ranked No. 1 in eight of Fortune’s nine key attributes of reputation: Quality of Management, Social Responsibility, Innovation, Quality of Products/Services, People Management, Use of Corporate Assets, Financial Soundness and Long-Term Investment Value. Overall, U.S. Bank’s reputation within its industry is the fifth-highest of any company in any industry on the World’s Most Admired Companies list.Fortune’s World’s Most Admired Companies are determined by a survey of executives, directors and analysts rating companies in their industry on a series of criteria. Visit Fortune to learn more about methodology. (photo: AboutUs-Placeholder)

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East West Bank Announces Agreement to Sell Desert Community Bank Branches to Flagstar Bank, FSB

Posted by fidest press agency su mercoledì, 15 novembre 2017

East West Bancorp, Inc. (“East West” or the “Company”) (Nasdaq: EWBC), parent company of East West Bank, today announced that East West Bank has entered into a purchase and assumption agreement to sell its Desert Community Bank (“DCB”) branches and related assets and liabilities to Flagstar Bank, a subsidiary bank of Flagstar Bancorp, Inc. (“Flagstar”) (NYSE: FBC).Desert Community Bank consists of eight branches located in the High Desert area of California, and has been operating as a separate division of East West Bank for ten years. The purchase and assumption agreement includes all eight branches, approximately $70 million in loans and $600 million in deposits. Following the sale, DCB will retain its name and continue to operate as Desert Community Bank, a division of Flagstar Bank.Dominic Ng, Chairman and Chief Executive Officer of East West, stated, “East West is proud to have served the communities in the High Desert area for a decade. Although we are exiting branch banking in this region of California, it was important for us to find a buyer that was committed to retaining the Desert Community Bank name and banking team, and shared our values in providing an outstanding customer experience. With our choice of Flagstar, we believe we found a dedicated partner to support Desert Community Bank’s integral role in the High Desert communities. I am confident that our customers will be well-served by the team at Flagstar.”The transaction is subject to regulatory approval and satisfaction of customary closing conditions, and is expected to be completed in the first half of 2018. The terms of the transaction were not disclosed.Sandler O’Neill & Partners, L.P. acted as financial advisor and King, Holmes, Paterno & Soriano, LLP served as legal counsel to East West Bancorp, Inc.

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OneLegacy Opens Largest Eye Bank in L.A. and Orange Counties

Posted by fidest press agency su venerdì, 29 settembre 2017

los angelesLos Angeles. OneLegacy announced today the opening of the largest eye bank in Los Angeles, Orange, Riverside and San Bernardino counties. From this location OneLegacy will recover, evaluate, process and distribute an array of ocular tissue for transplantation and research. It will also be the only eye bank in Los Angeles that houses all ocular products, including not only corneas needed for transplantation but also ocular tissue needed for glaucoma surgeries. OneLegacy has been operating an eye bank since 2013, but this new state-of-the-art facility will allow for greater capacity and more rapid recovery and distribution of ocular tissue throughout the Southern California communities. It will also serve as home to free on-site wet laboratory training for corneal transplant surgeons and residents. A corneal transplant replaces a portion of an impaired cornea (brought on by disease, injury, infection or any other causes) with a healthy donor cornea, making corneal blindness a highly treatable condition. Each year U.S. eye banks provide tissue for an average of over 70,000 corneal transplants; and over 95 percent of all corneal transplant operations successfully restore the corneal recipient’s vision, according to the Eye Bank Association of America (EBAA). The OneLegacy Eye Bank is staffed by specially trained technicians who surgically retrieve the cornea and bring it to the eye bank where the tissue is carefully evaluated to ensure optimal quality. This includes both an evaluation of the cornea itself as well as a medical chart review of the donor to verify that there were circumstances (such as infections or a few highly communicable diseases including HIV or hepatitis) that would disqualify the donation. The “approved” cornea is then distributed to a corneal surgeon who transplants this tissue into his or her patient as soon as possible, typically 2-5 days following donation.“Our new eye bank facility will serve our community much more quickly and provide local surgeons the ocular tissue needed to give the gift of sight to their patients,” said Prasad Garimella, chief operating officer of OneLegacy and executive director of the OneLegacy Eye Bank. Garimella points out that since 1961 more than 1.5 million people worldwide have had their sight restored “thanks to the priceless gift of corneal donation from one person to another.” In addition to facilitating the donation and transplantation process, OneLegacy Eye Bank will offer education to local transplant surgeons. On September 30 OneLegacy will hold its first surgical wet laboratory training in the eye bank’s new facility. At that time cornea surgeons, fellows and residents will be trained in the DALK surgical procedure, a modern technique whereby the outer two layers of the cornea are removed and replaced with the outer two layers from a donor cornea to give a partial-thickness transplant. Later this year, similar training programs will be held on other emerging technologies in ophthalmology. OneLegacy Eye Bank is accredited by the EBAA and regulated by the Food and Drug Administration. Although its focus is primarily to provide quality ocular tissue to the Southern California community, OneLegacy has helped cure corneal blindness in over 25 countries worldwide.
OneLegacy is a nonprofit organization dedicated to saving lives through organ, eye and tissue donation in seven counties in Southern California: Los Angeles, Orange, Riverside, San Bernardino, Ventura, Santa Barbara and Kern. Serving more than 200 hospitals, 11 transplant centers, and a diverse population of nearly 20 million, OneLegacy is the largest organ, eye and tissue recovery organization in the world. For more information visit onelegacy.org.

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Fifth Third Bank Announces Multi-year Renewal with Ricky Stenhouse Jr. and Roush Fenway Racing

Posted by fidest press agency su giovedì, 7 settembre 2017

san franciscoFifth Third Bank (NASDAQ: FITB) has renewed its relationship with Roush Fenway Racing as primary sponsor on the No. 17 Monster Energy NASCAR Cup Series Ford with driver Ricky Stenhouse, Jr. in a multi-year deal. “I’m so appreciative to continue racing with Fifth Third Bank on the car. It’s great to have partners who believe in the sport and are committed long-term to supporting the business of racing,” said Stenhouse.
Fifth Third Bank came onboard with Roush Fenway Racing in 2012 and has served as a primary sponsor on the No. 17 Ford for the past six seasons.“We’re excited to extend our relationship with Roush Fenway Racing and Ricky Stenhouse, Jr.,” said Matt Jauchius, chief marketing officer for Fifth Third Bank. “To hear Ricky exclaim our tagline, ‘that’s Banking a Fifth Third Better, boys’ when he captured his first victory this season was incredible. We’re banking on another successful run with him behind the wheel.”Stenhouse captured his first two Monster Energy NASCAR Cup Series wins while sporting the Fifth Third colors during the 2017 season. He will make his 173rd career Monster Energy Cup Series start at Darlington Raceway in South Carolina on September 3, where the No. 17 Fifth Third Ford will feature a throwback paint scheme inspired by a Darrell Waltrip 1997 paint scheme.“The Roush team has been an outstanding partner for the past six seasons, and this goes beyond the race track. With their help, we’ve become the preferred bank of the motorsports industry, providing strategic financial advice and services to teams, tracks, drivers, suppliers and corporate sponsors,” remarked Tom Heiks, Group Regional President for Fifth Third Bank.
The Bank is actively involved within the racing industry, serving on the North Carolina Motorsports Association (NCMA) board, sponsoring the NCMA Industry Tribute Awards Banquet and exhibiting at the Performance Racing Industry Tradeshow. Fifth Third also supports numerous motorsports charities including the NASCAR Foundation, Jeff Gordon Children’s Foundation, Speedway Children’s Charities, B.R.A.K.E.S. and Motor Racing Outreach.“It’s a privilege to continue our relationship with Fifth Third Bank,” said Steve Newmark, president of Roush Fenway Racing. “There are few sponsors in NASCAR who have as deep of an understanding of the industry and whose primary objective is to serve the wellbeing of businesses and individuals in the sport.” In addition to its partnership with Roush Fenway Racing, Fifth Third Bank is the Official Bank of Daytona International Speedway and the Daytona 500, and a partner with Rahal Letterman Lanigan Racing in the IndyCar series. (photo: san francisco)

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