Full Year 2011 Core diluted earnings per common share were $1.15, an increase of $0.01 from the year ended December 31, 2010. GAAP diluted earnings per common share were $1.15, a decrease of $0.13 from the year ended December 31, 2010. The year ended December 31, 2010 included a net tax benefit of $5.5 million, or $0.18 per diluted common share. Excluding this net tax benefit, diluted earnings per common share for 2011 increased $0.05, or 4%. The net interest margin was 3.61%, an 18 basis...
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Fitch Ratings says the emphasis for prime money market fund (MMF) investors remains return of capital versus return on capital in the current low-yield environment. MMFs remain an essential option for daily cash management as evidenced by January's $9 billion cash inflows into U.S. prime MMFs despite their miniscule yield. MMF risk aversion is evidenced by their large holdings of low-yielding short-term U.S. government securities. According to Fitch's most recent study of the holdings of the 10 la...
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Fitch Ratings has assigned a 'BBB-' rating to Toll Brothers, Inc.'s (NYSE: TOL) $300 million senior unsecured notes due February 2022. The Rating Outlook is Stable. The notes will be issued by Toll Brothers Finance Corp., a wholly-owned subsidiary, and will be guaranteed on a senior basis by Toll Brothers, Inc. and certain of its subsidiaries that guarantee its current bank credit facilities and its senior notes. The issue will be ranked on a pari passu basis with other senior unsecured debt, incl...
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In a special report released today, 'Canadian Banks 2011 Results and Outlook', Fitch provides a general industry commentary and analysis, followed by company specific comments and financial data and ratios. The performance of the major Canadian banks (The Big Six) during FY11 was supported by a still sound economic environment, although GDP growth was more moderate than initially projected. Canada's economic environment supported retail loan growth during the year. Despite a decreased pace, retail...
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The rating action referenced in Fitch Ratings' Jan. 25, 2012, press release (Fitch To Take Various Rating Actions on 3 Series of Triborough Bridge and Tunnel Auth VRBs) is effective today (Jan. 31, 2012). Additional information is available at www.fitchratings.com. The ratings above were solicited by, or on behalf of, the issuer, and therefore, Fitch has been compensated for the provision of the ratings. Applicable Criteria and Related Research: --'U.S. Municipal Structured Finance Rating ...
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In the course of routine surveillance, Fitch Ratings affirms the 'AA' rating on the following State of Florida Inland Protection Financing Corporation revenue bonds: --$29.49 million series 2010A; --$60.615 million series 2010B Build America Bonds (federally taxable-issuer subsidy). The Rating Outlook is Stable. SECURITY: The bonds are secured by payments to the corporation under a service contract with the state's Department of Environmental Protection. Payments are derived from a who...
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MONTREAL, Jan. 31, 2012 /CNW Telbec/ - As a new year gets underway, and with the RRSP season in full swing, Laurentian Bank Securities (LBS) is pleased to be presenting its forecasts for 2012 as seen by its Vice-President and Strategist, Mr. Sylvain Ratelle. LBS is advising investors and savers to periodically review their investor profile so as to take the evolution of economic activity and the subsequent repercussions on their personal financial strategy into account. Preserving Capital of P...
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MONTREAL, Jan. 31, 2012 /CNW Telbec/ - As a new year gets underway, and with the RRSP season in full swing, Laurentian Bank Securities (LBS) is pleased to be presenting its forecasts for 2012 as seen by its Vice-President and Strategist, Mr. Sylvain Ratelle. LBS is advising investors and savers to periodically review their investor profile so as to take the evolution of economic activity and the subsequent repercussions on their personal financial strategy into account. Preserving Capital of P...
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REDDING, Calif. , Jan. 31, 2012 /PRNewswire/ -- Patrick J. Moty , President & CEO of Bank of Commerce Holdings (NASDAQ: BOCH), a $940.7 million bank holding company, and parent company of Redding Bank of Commerce™, Roseville Bank of Commerce™ (a division of Redding Bank of Commerce), and Bank of Commerce Mortgage™ today reported net income available to common shareholders of $1.9 million and diluted earnings per share ("EPS") of $0.12 for the fourth quarter 2011, a...
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(TSX-V: IPE) iPerceptions Inc. ( iPerceptions or the Corporation ) today announced that Mr. Skuli Mogensen has resigned as a member of the Board of Directors of the Corporation (the Board ). Such resignation is effective immediately. The Board would like to thank Mr. Mogensen for his contribution to the Board and announced that it has decided not to replace him. iPerceptions also announced that Mr. Mogensen has converted the unsecured convertible debenture of the Corporation that he has subscri...
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(TSX-V: IPE) iPerceptions Inc. ( iPerceptions or the Corporation ) today announced that Mr. Skuli Mogensen has resigned as a member of the Board of Directors of the Corporation (the Board ). Such resignation is effective immediately. The Board would like to thank Mr. Mogensen for his contribution to the Board and announced that it has decided not to replace him. iPerceptions also announced that Mr. Mogensen has converted the unsecured convertible debenture of the Corporation that he has subscri...
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MOLINE, Ill., Jan. 30, 2012 (GLOBE NEWSWIRE) -- QCR Holdings, Inc. (Nasdaq:QCRH) today announced net income attributable to QCR Holdings, Inc. ("net income") of $2.7 million for the quarter ended December 31, 2011, or diluted earnings per common share of $0.35 after preferred stock dividends of $1.0 million. By comparison, for the quarter ended September 30, 2011, the Company reported net income of $2.2 million, or diluted loss per common share of ($0.01) after preferred stock dividends of $2.2 millio...
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SL Green Realty Corp. (NYSE: SLG) Operating Highlights Fourth quarter FFO of $1.04 per diluted share before transaction related costs of $0.02 per share, as compared with $1.01 per diluted share before transaction related costs of $0.04 per share in the fourth quarter of 2010. Fourth quarter net income attributable to common stockholders of $0.03 per diluted share as compared with $0.09 per diluted share in the fourth quarter of 2010. Full-year 2011 FFO of $4.88 per diluted share bef...
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SL Green Realty Corp. (NYSE: SLG) Operating Highlights Fourth quarter FFO of $1.04 per diluted share before transaction related costs of $0.02 per share, as compared with $1.01 per diluted share before transaction related costs of $0.04 per share in the fourth quarter of 2010. Fourth quarter net income attributable to common stockholders of $0.03 per diluted share as compared with $0.09 per diluted share in the fourth quarter of 2010. Full-year 2011 FFO of $4.88 per diluted share bef...
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Heartland Financial USA, Inc. (NASDAQ:HTLF): Quarterly Highlights Net interest margin of 4.08% Growth in loans held to maturity of $107.1 million since September 30, 2011 Deposit growth of $36.5 million since September 30, 2011 Nonperforming assets decreased $10.3 million since September 30, 2011 Expansion of mortgage operations in existing and new markets Heartland Financial USA, Inc. (NASDAQ:HTLF) today reported net income of $6.2 million for the quarter ended Dec...
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Fitch Ratings affirms Chile's ratings as follows: --Foreign and Local Currency Issuer Default Ratings at 'A+' and 'AA-' respectively; --Short-term Issuer Default Rating at 'F1'; --Country Ceiling at 'AA+'. The Rating Outlook is Stable. Chile's ratings are supported by years of prudent fiscal management, an effective and credible monetary regime anchored by a freely floating currency, and an economic model based on competitive markets. These strengths sufficiently counterbalance its...
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Fitch Ratings has affirmed the ratings on the outstanding senior class A and subordinate class I notes for the Rhode Island Student Loan Authority (RISLA) 2008 Trust notes. Fitch has also revised the Rating Outlook on the notes to Stable from Negative. A detailed list of rating actions is provided at the end of this release. Fitch's Global Structured Finance Rating Criteria and Private Student Loan Asset-Backed Securities (ABS) Criteria were used to review the transaction. The rating affirmati...
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Consolidation in the U.S. regulated utility sector will continue at a moderate pace over the next several years, according to a new Fitch Ratings report. The industry's fragmented structure and the potential to realize meaningful economies of scale will drive further M&A activity, continuing the trends seen in 2010-11. Capital market conditions are favorable for utilities, with low interest rate and attractive equity valuations providing a favorable backdrop for merger activity. Fitch believes...
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NEWTON, N.C., Jan. 30, 2012 (GLOBE NEWSWIRE) -- Peoples Bancorp of North Carolina, Inc. (Nasdaq:PEBK), the parent company of Peoples Bank, reported net income of $1.8 million for the three months ended December 31, 2011, resulting in $0.32 basic and diluted net earnings per share, before adjustment for preferred stock dividends and accretion, as compared to a net loss of $439,000 or $0.08 basic and diluted net loss per share, for the same period one year ago. After adjusting for dividends and accreti...
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REYKJAVIK, Iceland, Jan. 28 (UPI) -- Icelandic citizens say they are deeply divided on the question of joining the eurozone with the euro floundering due to ongoing debt issues. Ironically, many in Iceland, a country of 318,000 people, say the reason to join the eurozone and adopt the euro is because the euro is more stable. On the other hand, "I don't want the euro, hell no," said a vendor in a central square in the capital city of Reykjavik. "The countries that have the euro, it's going pretty b...
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Fitch Ratings has taken various conforming rating actions on enhanced municipal bonds and tender option bonds (TOBs) corresponding to actions taken on their associated enhancement providers or underlying bonds. Long-term ratings on enhanced municipal bonds may be higher than those of their enhancement providers as discussed in Fitch's 'Dual-Party Pay Criteria for Long-Term Ratings on LOC-Supported U.S. Public Finance Bonds', dated March 10, 2011. Short-term ratings on enhanced municipal bonds ...
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Fitch Ratings has affirmed the ratings of Thrivent Financial for Lutherans (Thrivent Financial) and its subsidiary, Thrivent Life Insurance Company (Thrivent Life), collectively referred to as Thrivent hereafter. The affirmed ratings include Thrivent's 'AA' Insurer Financial Strength (IFS) and its 'AA-' long-term Issuer Default Rating (IDR). The Rating Outlook is Stable. A complete list of rating actions is provided at the end of this release. Fitch's ratings of Thrivent Financial reflect the orga...
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RENTON, Wash., Jan. 27, 2012 (GLOBE NEWSWIRE) -- First Financial Northwest, Inc. (the "Company") (Nasdaq:FFNW), the holding company for First Savings Bank Northwest (the "Bank"), today reported net income for the fourth quarter ended December 31, 2011 of $927,000, or $0.05 per diluted share, compared to net income of $568,000, or $0.03 per diluted share for the comparable quarter in 2010. For the year ended December 31, 2011, net income was $4.2 million, or $0.24 per diluted share, an improvement of $...
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NAMPA, Idaho, Jan. 27, 2012 (GLOBE NEWSWIRE) -- Home Federal Bancorp, Inc. ("Company") (Nasdaq:HOME), the parent company of Home Federal Bank ("Bank"), today announced results for the quarter ended December 31, 2011. The Company reported earnings of $1.4 million, or $0.09 per diluted share, for the three months ended December 31, 2011, compared to a loss of ($1.3 million), or ($0.08) per diluted share, for the same period a year ago. The Company's return to profitability was attributable to a reductio...
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Fitch Ratings has placed the following HSBC Bank subsidiaries ratings on Watch Negative: --Banco HSBC Salvadoreno's Long-term Issuer Default Rating (IDR) and national rating; --Inversiones Financieras HSBC's National Ratings; --Banco HSBC (Costa Rica)'s National Ratings. The ratings were placed on Rating Watch Negative following the announcement of HSBC's agreement to sell these operations to the Colombian Banco Davivienda, S.A. (Davivienda). Fitch has also affirmed Banco HSBC Salv...
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