Flagstar Bank has been announced as the featured Business Partner for the month of May. The bank, headquartered in NY, boasts over $100 billion in assets and a robust Corporate Banking Division.The Corporate Banking Division of Flagstar Bank is highlighted for its focus on lending verticals that cater to the specialized needs of its clients. One of the key areas of expertise mentioned is the Lender Finance Group, which provides tailored solutions to non-bank specialty lenders. This group emphasizes reliable execution in areas such as revolving and warehouse lines of...
Bankers remain skeptical of economic outlook ARLINGTON, Va., May 1, 2024 /PRNewswire/ -- Fifty-eight percent of bankers would take action to reduce costs or increase revenue elsewhere even if exempt under a new regulatory proposal to restrict overdraft fees, according to a survey of nearly 500 financial executives released today.In a survey by liquidity management fintech IntraFi, 44% of respondents said if the plan went into effect, they would lower overdraft fees to remain competitive with larger banks, while 35% said they would alter their policies, and 27% said they...
May 1, 2024TORONTO, May 1, 2024 /PRNewswire/ - Franco-Nevada Corporation announced its financial results for the first quarter of 2024, with CEO Paul Brink highlighting the impact of gold prices on the company's performance. Brink stated, "Our diversified portfolio performed well and production for the quarter met expectations. Elevated gold prices translated directly into some of our highest ever margins."During the quarter, the company saw positive developments in its operations, with Brink noting, "Salares Norte commenced production during the quarter and Greenstone...
PayNearMe has recently released a study titled "Consumer Trends Driving the Future of Loan Payments," where they highlighted the significance of customer experience in loan repayment. According to PayNearMe, "challenges in the loan repayment process and poor payment experiences jeopardize customer loyalty and retention for lenders."For more information on the study, gmcgurn@afsamail.org suggests, "You can read more on PayNearMe’s website."
blueharbor bank reported a decrease in net income for the first quarter of 2024 compared to the same period in 2023. The Bank's net income was $1,336,608 and $0.44 per diluted share, a decrease of 36% from the previous year. Despite the decrease, the Bank's total assets saw an increase of $37.9 million, reaching $453.5 million at the end of March 2024.In a statement, Jim Marshall, President and Chief Executive Officer of blueharbor bank, noted, "Our balance sheet growth was acceptable given the cumulative effect rising interest rates are having on the economy. The credit...
VIENNA, VA (May 1, 2024) – Navy Federal Credit Union is showing its appreciation for Active Duty servicemembers, Veterans, and their families by launching a series of celebratory activities and member deals for Military Appreciation Month. The credit union aims to honor those who go above and beyond in their service to the country.Members of Navy Federal can take advantage of exclusive offers throughout May and beyond, including bonuses for new members and special discounts on loans. Mehdi Dinia, vice president of membership at Navy Federal, expressed the credit union's...
Today, the House Financial Services Subcommittee on Financial Institutions and Monetary Policy, led by Chairman Andy Barr, is conducting a hearing to scrutinize the merger policies of the Federal Banking Agencies. In his opening remarks, Chairman Barr highlighted the importance of mergers in the financial sector, emphasizing their role in promoting competition and cost savings for consumers. He stated, "Mergers of financial institutions can promote competition and generate cost savings that can then be passed on to consumers in the form of lower interest rates on loans,...
TORONTO, May 1, 2024 /PRNewswire/ - Russel Metals Inc. (TSX: RUS) announced its financial results for the first quarter of 2024, showcasing a mix of performance indicators and market insights.The company stated, "We use a number of measures that are not prescribed by IFRS Accounting Standards ('IFRS' or 'GAAP') and as such may not be comparable to similar measures presented by other companies."Regarding earnings, Russel Metals Inc. reported, "Our basic earnings per share of $0.82 for the quarter ended March 31, 2024, was lower than the $1.19 per share recorded in the...
Etsy, Inc. Chief Executive Officer, Josh Silverman, acknowledged the challenges faced in the first quarter of 2024, stating, "Our first quarter performance, while in line with our guidance, was pressured by the challenging environment for consumer discretionary products, which continues to be a headwind to Etsy marketplace growth." Despite these challenges, Silverman expressed optimism about the future, saying, "I'm confident that leaning into our differentiators to make Etsy even more Etsy will help ensure we stand out in the sea of sameness in e-commerce."Chief...
HONG KONG, May 1, 2024 /PRNewswire/ -- MGM China Holdings Limited ("MGM China" or the "Company") has reported record-high performance and market share for the first quarter of 2024. The company announced its unaudited financial data, highlighting a strong recovery in Macau following the challenges of the past years.Kenneth Feng, President and Executive Director of MGM China, expressed pride in the company's performance, attributing it to their focus on customer service and continuous innovation. He stated, "Our outstanding performance demonstrates our deep understanding...
On May 1, 2024, the Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), revealed plans for an upcoming hearing focusing on critical national security and illicit finance issues. The hearing, titled "Mission Critical: Restoring National Security as the Focus of Defense Production Act Reauthorization, Part II," is scheduled to take place at 2:00 PM ET on Wednesday, May 8, 2024, at the 2128 Rayburn House Office Building.According to the announcement, the hearing will delve into key matters concerning national security, illicit finance, and...
The US Green Building Council (USGBC) has announced the participants of the 2024 LEED for Cities Leadership Program. The program aims to support cities in their sustainability efforts and to help them achieve their environmental goals."We are thrilled to announce the cities that have been selected for the 2024 LEED for Cities Leadership Program cohort," said a representative from USGBC.The selected cities will receive guidance and resources to enhance their sustainability initiatives and work towards achieving LEED certification."The program will provide us with...
Group 1 Automotive, Inc. (NYSE: GPI) has announced a significant financial development on April 30, 2024. The Fortune 300 automotive retailer with 203 dealerships in the U.S. and U.K. completed a $500 million upsize in its revolving syndicated credit facility to $2.5 billion with 20 financial institutions. This credit facility will expire in March 2027 and can be further expanded to $3.0 billion.Among the lenders in the syndicated facility are six manufacturer-affiliated finance companies and 14 commercial banks. Notable names in the manufacturer-affiliated finance...
ONEOK, Inc. (NYSE: OKE) revealed its first quarter 2024 results and a boost in full-year 2024 financial guidance, citing favorable industry fundamentals and confidence in synergy expectations. According to Pierce H. Norton II, president and CEO of ONEOK, the company's performance was driven by various factors, including increased volumes in the Rocky Mountain region.Norton stated, "ONEOK generated solid results during the first quarter, supported by higher year-over-year volumes in the Rocky Mountain region and contributions from the refined products and crude segment."...
A new national consumer survey conducted by FirstClose™, Inc. has shed light on the lack of awareness among homeowners regarding the financial advantages of leveraging home equity for various purposes. According to the survey, many consumers do not fully understand how home equity can be utilized to reduce debt and improve financial stability.Tedd Smith, CEO of FirstClose, emphasized the importance of educating consumers about the benefits of leveraging home equity, stating, "The findings of this survey underscore the critical gap in consumers' understanding of the...
Marathon Petroleum Corp. (NYSE: MPC) has announced its first-quarter 2024 financial results, showcasing a net income attributable to MPC of $937 million, or $2.58 per diluted share. The company reported an $89 million charge due to stock compensation adjustments, affecting diluted earnings per share. This marks a significant difference from the first quarter of 2023, where net income stood at $2.7 billion, or $6.09 per diluted share.CEO Michael J. Hennigan expressed pride in the team's accomplishments during the quarter, stating, "In the first quarter, our team safely and...
BMO's Real Financial Progress Index reveals that 71% of aspiring homeowners are waiting for rate cuts before buying a home, up from 64% last year. Additionally, nearly one-third of prospective buyers plan to tap into their 401(k) funds to cover the costs, as reported by BMO Financial Group.Michael Gregory, Deputy Chief Economist at BMO, stated, "In light of persistent strength in the U.S. economy, as well as stubborn underlying inflation, the market has been pushing its expectation for Fed rate cuts into the autumn."Thomas Parrish, Head of U.S. Retail Lending at BMO,...
DALLAS, April 30, 2024 /PRNewswire/ -- Montgomery Capital Partners III, LP has announced a forthcoming public sale of the personal property assets of P3 Pure LLC, to be held on May 14, 2024, at 12:00 p.m. Central Standard Time. The sale will be conducted telephonically, allowing Qualified Bidders to participate in the bidding process.The sale aims to foreclose the security interest held by the Secured Party in various assets of P3 Pure, including inventory, accounts receivable, machinery and equipment, trademarks such as "Pretty Frank" and "P3 Pure," as well as other...
BEIJING, April 30, 2024 /PRNewswire/ -- Pintec Technology Holdings Limited (NASDAQ: PT) ("Pintec" or the "Company") has announced the filing of its annual report on Form 20-F for the fiscal year ended December 31, 2023, with the Securities and Exchange Commission ("SEC") on April 30, 2023 Eastern Time.The company stated, "The annual report can be accessed on the Company's investor relations website at ir.pintec.com or the SEC's website at www.sec.gov. The Company will provide hard copies of its annual report, free of charge, to its shareholders and ADS holders upon...
Li Jacobson, the chief information officer of Embold Credit Union, shared her insights on various topics, including the significance of technology in enhancing member experiences and her personal reflections on Asian American, Native Hawaiian, and Pacific Islander (AANHPI) Heritage Month.Reflecting on credit unions, Jacobson emphasized their community-centric approach, stating, "We want to serve our members and give back to the community. We make dreams come true." She highlighted the importance of financial literacy and assisting members in achieving their goals such as...