The Federal Home Loan Bank of San Francisco today announced its operating results for the third quarter of 2022. The $9 million increase in net income relative to the prior-year period was primarily attributable to an increase in net interest income of $37 million, partially offset by a decrease of $15 million in other income/ and an increase of $9 million in the provision for credit losses.
Heritage Commerce Corp (HTBK), the holding company for Heritage Bank of Commerce, today announced third quarter 2022 net income of $18.1 million, or $0.30 per average diluted common share, compared to $13.7 million, or $0.23 per average diluted common share, for the third quarter of 2021, and $14.8 million, or $0.24 per average diluted common share, for the second quarter of 2022.
Today the Board of Directors of the Federal Home Loan Bank of Indianapolis declared its third quarter 2022 dividends on Class B-2 activity-based capital stock and Class B-1 non-activity-based stock at annualized rates of 4.75% and 1.25%, respectively. The dividends will be paid in cash on October?28, 2022.
The board of directors of the Federal Home Loan Bank of Atlanta today approved a third quarter 2022 cash dividend at an annualized rate of 5.30 percent. ?The Bank remains focused on building and sustaining strong relationships with our members, and supporting them during these challenging economic times,? said FHLBank Atlanta Chair of the Board, Rick Whaley.
Federal Home Loan Bank of Atlanta today released preliminary unaudited financial highlights for the quarter ended September?30, 2022. Net income for the third quarter of 2022 was $47 million, an increase of $20 million, compared to net income of $27 million for the third quarter of 2021.
Freddie Mac today released the results of its Primary Mortgage Market Survey??, showing the 30-year fixed-rate mortgage averaged 7.08 percent. ?The 30-year fixed-rate mortgage broke seven percent for the first time since April 2002, leading to greater stagnation in the housing market,? said Sam Khater, Freddie Mac?s Chief Economist.
NOTABLE ITEMS FOR THE QUARTER INCLUDE: WOODBRIDGE, N.J., Oct. 26, 2022 -- Northfield Bancorp (NFBK), INC.,?the holding company for Northfield Bank, reported net income of $17.0 million, or $0.37, per diluted share for the three months ended September 30, 2022, as compared to $15.9 million, or $0.34 per diluted share for the three months ended June?30, 2022, and $16.1 million, or $0.33 per diluted shar...
The Equipment Leasing and Finance Association?s Monthly Leasing and Finance Index, which reports economic activity from 25 companies representing a cross section of the $1 trillion equipment finance sector, showed their overall new business volume for September was $10.2 billion, up 11 percent year-over-year from new business volume in September 2021.
First Northwest Bancorp CEO Commentary ?Our commercial bank delivered once again this quarter as we achieved record net interest income, thanks to prudent loan growth and increasing yields,? said Matthew P. Deines, President and CEO of First Northwest Bancorp (FNWB). The Board of Directors of First Northwest Bancorp (FNWB) declared a quarterly cash dividend of?$0.07 per common share.
Freddie Mac today posted to its website its Monthly Volume Summary for September 2022, which provides information on Freddie Mac?s mortgage-related portfolios, securities issuance, risk management, delinquencies, debt activities, and other investments. Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders.
Freddie Mac announced today the pricing of the second Seasoned Loans Structured Transaction Trust offering of 2022 -- a securitization of approximately $230 million including both guaranteed senior and non-guaranteed subordinate securities backed by a pool of seasoned residential mortgage loans.
Freddie Mac Multifamily today named BH Management Services as its 2022 Impact Sponsor of the Year. ?From the way they have sought to build a diverse and inclusive team, to their focus on building communities that are sustainable for tenants and the environment, BH is a multifamily company that puts people first,? said Steve Johnson, vice president of Production & Sales for Freddie Mac Multifamily.
NP Digital, a leader in performance marketing, continues its rapid global growth earning it more noteworthy industry recognition. The agency also ranks #6 fastest growing minority-owned agency and 15 out of 75 overall.
First Merchants Corporation Third Quarter 2022 Highlights: Mark Hardwick, Chief Executive Officer, stated, ?Despite high inflation and volatility in both the bond and stock markets, our performance continues to be steady and strong. Third Quarter Financial Results.
Euronet Worldwide, Inc. (EEFT), a leading global electronic payments provider and distributor, today announced the Company has amended its unsecured revolving credit facility to increase the facility from $1.030 billion to $1.250 billion. The amended credit facility transitions the benchmark interest rate from LIBOR to the recommended replacement benchmark for each applicable currency.
Lendistry, a minority-led and technology-enabled small business and commercial real estate lender with Community Development Financial Institution and Community Development Entity certification, announced today the closing of a private placement of $85 million aggregate principal amount of unsecured Fixed to Floating Rate Senior Notes due 2027.
Greystone, a leading national commercial real estate finance company, has provided forward commitments for two loans, a $12.361 Freddie Mac 4% LIHTC Tax Exempt Loan and a $2.712 million 9% LIHTC loan, for the development of a 165-unit affordable housing property in Baltimore, MD. The transaction, which is leveraging both 4% and 9% tax credits to finance the development of the property, was orig...
Freddie Mac announced today an enhancement to its Condo Project Advisor? allowing lenders of all sizes to easily request an automated Project Assessment Request? to quickly identify if a condominium project meets certain review requirements.
According to national nonprofit Money Management International, recent and upcoming Federal Reserve interest rate hikes could add as much as $4,500 in interest charges to consumers making minimum payments on their credit cards. The Federal Reserve is seeking to contain inflation by hiking interest rates, with two more rate hikes anticipated by the end of the year.
The current deceleration of the housing market given declining demand is likely to continue, Freddie Mac said today. ?Mortgage rates have increased at the fastest rate in four decades, quickly taking the wind out of the sails of the housing market,? said Sam Khater, Freddie Mac?s Chief Economist.
Chemung Financial Corporation (CHMG), the parent company of Chemung Canal Trust Company, today reported net income of $6.5 million, or $1.37 per share, for the third quarter of 2022, compared to $6.6 million, or $1.42 per share, for the third quarter of 2021.
Freddie Mac today released the results of its Primary Mortgage Market Survey??, showing the 30-year fixed-rate mortgage averaged 6.94 percent. ?Mortgage rates slowed their upward trajectory this week,? said Sam Khater, Freddie Mac?s Chief Economist.
Key Highlights Existing-home sales descended in September, the eighth month in a row of declines, according to the National Association of Realtors?. Three out of the four major U.S. regions notched month-over-month sales contractions, while the West held steady.
Truxton Corporation (TRUX), the parent company for Truxton Trust Company and subsidiaries, announced its operating results for the quarter ended September 30, 2022. ?Truxton has managed effectively through a period of rapidly rising interest rates and declining stock and bond valuations,? said Chairman and CEO Tom Stumb.
Freddie Mac??will increase homeownership opportunities by including a review of a borrower?s bank account data to identify a history of positive monthly cash flow activity as part of its technology?s loan purchase eligibility assessments, the company announced today.
First Fed Bank, subsidiary of First Northwest Bancorp (FNWB), today announced that Ana Liza Grandner has joined the leadership team as Senior Vice President and Chief Payments Officer. "Ana Liza is a recognized leader in fintech banking, with deep experience in the digital payments ecosystem,? said Matt Deines, President and CEO of First Fed Bank.
Micron Technology, Inc. (MU), an industry leader in innovative memory and storage solutions, today announced that the World Economic Forum has named its facility in Singapore as a Sustainability Lighthouse ? the first front-end semiconductor fab in the world to have received this recognition.
Freddie Mac today updated the final tender results of its previously announced offer to purchase any and all of the STACR? Notes listed below. The Company has conducted the Offer in accordance with the conditions set forth in the Offer to Purchase dated October 3, 2022 and related Notice of Guaranteed Delivery dated October 3, 2022.
Greystone, a leading national commercial real estate finance firm, announced that AJ Walker has joined as a Managing Director in Chicago, IL. In this role, Mr. Walker will focus on the origination of commercial real estate loans across the U.S. Mr. Walker reports to Rich Highfield, Head of CMBS at Greystone.
Freddie Mac today released the results of its Primary Mortgage Market Survey??, showing the 30-year fixed-rate mortgage averaged 6.92 percent. ?Rates resumed their record-setting climb this week, with the 30-year fixed-rate mortgage reaching its highest level since April of 2002,? said Sam Khater, Freddie Mac?s Chief Economist.
The Federal Home Loan Bank of San Francisco announced that, in partnership with participating member financial institutions, more than $2.2 million has been donated to HUD-approved housing counseling agencies through the Bank?s Empowering Black Homeownership matching grant program.
Arbor Realty Trust, Inc. (ABR) today announced that its subsidiary, Arbor Realty SR, Inc., has closed an offering of $150 million aggregate principal amount of 8.50% Senior Notes due 2027 in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, outside the United States to non-United States persons in...
Freddie Mac today announced the tender results of its previously announced offer to purchase any and all of the STACR? Notes listed below. The Company has conducted the Offer in accordance with the conditions set forth in the Offer to Purchase dated October 3, 2022 and related Notice of Guaranteed Delivery dated October 3, 2022.
"The old ways of doing finance are simply not working for most of humanity," surmises author Barbara Guth in her new book The Evolution of Finance: A New Vision for Entrepreneurial Innovation. There is no place this is more obvious than in the inventor/investor dynamic.
Today, Manufactured Housing Properties Inc. (MHPC) announces the refinancing of 42 communities with Fannie Mae through KeyBank, Inc., as well as the addition of three communities to its portfolio.
Saint Lucia is one of the fastest-growing economies in the Caribbean region. The Economic Commission for Latin America and the Caribbean projects Saint Lucia?s economy will grow by 8% this fiscal year, the highest GDP growth among Eastern Caribbean Currency Union [ECCU] Member States in 2022.
?To help address the national rental housing shortage and affordability crisis, Freddie Mac Multifamily today announced it is ramping up financing that supports newly constructed or substantially rehabilitated multifamily housing.
Federal Home Loan Bank of Atlanta today joined with city leaders from Tifton, Ga. and other stakeholders including banks, credit unions, housing counselors, faith-based entities, public and private schools, builders, realtors, local media, and other organizations to host an event to build awareness and support for the Tifton Financial Literacy Initiative.
Freddie Mac today released the results of its Primary Mortgage Market Survey??, showing that the 30-year fixed-rate mortgage averaged 6.66 percent. ?Mortgage rates decreased slightly this week due to ongoing economic uncertainty,? said Sam Khater, Freddie Mac?s Chief Economist.
Greystone, a leading national commercial real estate finance company, has provided a total of $59,670,000 in Fannie Mae Delegated Underwriting & Servicing financing for the acquisition of a 488-unit multifamily property in Oxon Hill, Maryland. Constructed in 1963, Oaks at Park South in Prince George?s County consists of 26 garden-style buildings with one-, two- and three-bedroom units.
Freddie Mac today published its annual sustainability disclosure in accordance with standards issued by the Sustainability Accounting Standards Board. ?Freddie Mac is engaging in voluntary reporting based on the SASB standards because transparency is a critical part of our corporate sustainability effort,? said Mark Hanson, senior vice president of securitization for Freddie Mac.
Freddie Mac today announced that it has commenced a fixed-price cash tender offer for the purchase of any and all of the STACR? Notes listed in the table below beginning Monday, October 3, 2022. Freddie Mac has engaged BofA Securities, Inc. and Barclays Capital Inc. as lead dealer managers and Academy Securities, Inc. as co-dealer manager for the Offer.
Lineup of October Buffer ETFs? decreased downside and volatility relative to reference assets in outcome period marked by significant market losses Flagship Innovator U.S. Equity Buffer ETFs? ? BOCT, POCT, UOCT ? seek to provide SPY exposure up to a cap, with downside buffer levels of 9%, 15% or 30% over one-year Outcome Period starting October 1st Q4 upside caps announced for quarterly resetti...
FirstService Corporation (FSV) announced today that it has entered into two new revolving, uncommitted financing facilities for potential future private placement issuances of senior unsecured notes aggregating US$450 million with its existing lenders, NYL Investors LLC of up to US$150 million and PGIM Private Capital, the direct private debt and structured equity investment affiliate of PGIM, Inc., ...
Greystone, a leading national commercial real estate finance company, has provided a $22.6 million Fannie Mae Delegated Underwriting & Servicing loan to refinance a 262-unit multifamily property in Bryan, Texas. Constructed in 2011, 21 Gramercy Park in Brazos County is a garden-style apartment community consisting of 21 buildings with one-, two- and three-bedroom units.
Greystone, a leading national commercial real estate finance company, has provided a $13,928,000 Freddie Mac loan to refinance a 120-unit multifamily property in Newnan, Georgia. Constructed in 1990, Jefferson Point Apartments in Coweta County consists of 10 garden-style buildings with one-, two- and three-bedroom units.
Freddie Mac today released the results of its Primary Mortgage Market Survey?, showing that the 30-year fixed-rate mortgage averaged 6.70 percent. ?The uncertainty and volatility in financial markets is heavily impacting mortgage rates,? said Sam Khater, Freddie Mac?s Chief Economist.
SOLVE Advisors, Inc., a market data platform provider for fixed income securities, today announced that it has acquired Lumesis. Industry-leading firms today trust SOLVE to reduce the risk of having incomplete or stale price data and save hundreds of hours in pre- and post-trade research and validation. ?We are thrilled to welcome the Lumesis team into the SOLVE family.
In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.
Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.
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