Glacier Bancorp, Inc. Announces Approval to Acquire First National Bank & Trust in Powell, Wyoming Sep 5, 2009
In addition to discussions about risks and uncertainties set forth from time to time in Glacier's public filings, factors that may cause actual results to differ materially from those contemplated by such forward looking statements include, among others, the following: (1) the risks associated with lending and potential adverse changes in credit quality; (2) increased loan delinquency rates; (3) the risks presented by a continued economic slowdown, which could adversely affect credit quality,... (PR Newswire)
Kentucky First Federal Bancorp Releases Earnings Aug 29, 2009
The lower interest expense was the result of decreases in market interest rates from period to period and the corresponding decreased cost of short-term deposits and borrowings. Also contributing to the increase in net earnings was an increase in other income, which increased $59,000 or 32. (PR Newswire)
Signs of recovery in France, Germany Aug 15, 2009
Car scrappage schemes in France and Germany and the ''automatic stabilisers'' of their welfare systems have helped put a floor under the downturn, while near-zero market interest rates and emergency lending by the European Central Bank has stopped credit drying up. Crucially, neither country went through the sort of extreme debt bubble seen in Britain. (Sydney Morning Herald -- World)
First Federal Bankshares, Inc. Reports Fourth Quarter and Fiscal Year End Results and Resignation of Chief Executive Officer Aug 12, 2009
Such factors include, but are not limited to: (i) general market interest rates, (ii) general economic conditions, (iii) legislative/regulatory changes, (iv) monetary and fiscal policies of the U.S. Treasury and Federal Reserve, (v) changes in the quality or composition of Company's loan and investment portfolios, (vi) demand for loan products, (vii) deposit flow, (viii) competition, (ix) demand for financial services in Company's markets and (x) changes in accounting principles, policies, or... (PR Newswire)
Firm Capital Mortgage Investment Trust Announces Strong Second Quarter Results Aug 7, 2009
The Canadian Accounting Standards Board (AcSB") confirmed that the adoption of IFRS would be effective for the interim and annual periods beginning on or after January 1, 2011 for Canadian publicly accountable profit-oriented enterprises. IFRS will replace Canada's current GAAP for these enterprises. Comparative IFRS information for the previous fiscal year will also have to be reported. These new standards will be effective for the Trust in the first quarter of 2011.The Trust is currently in... (CCNMatthews Press Releases)
GateHouse Media Announces Second Quarter 2009 Results Aug 7, 2009
Factors which could have a material adverse effect on the Company's operations and future prospects or which could cause events or circumstances to differ from the forward-looking statements include, but are not limited to, the condition of the economy and the credit markets generally, the Company's ability to maintain adequate liquidity and financing sources and an appropriate level of debt, the Company's ability to close on a timely basis upon announced or contemplated transactions, unexpected... (PR Newswire)
Investors Bancorp, Inc. Announces Fourth Quarter and Year-End Financial Results Aug 5, 2009
51% for the three months ended June 30, 2008, as lower short term market interest rates allowed us to reduce rates paid on deposit accounts ... 1 million resulting from lower market interest rates ... The decrease in fair value for these securities is primarily attributed to changes in market interest rates. (PR Newswire)
Idaho Power Files General Rate Increase Request in Oregon Aug 1, 2009
BOISE, July 31 /PRNewswire-FirstCall/ -- IDACORP, Inc.'s (NYSE: ) principal subsidiary Idaho Power Company today filed an application with the Public Utility Commission of Oregon (OPUC) to increase the base rate it charges Oregon customers for electricity an average of 22. If approved, Idaho Power revenues would increase $7. (PR Newswire)
Oneida Financial Corp. Reports 2009 Second Quarter Operating Results (Unaudited) Jul 30, 2009
The year-over-year comparison reflects the impact of the reduction in market interest rates and the cuts in the federal funds target rate totaling two percent. As a result, the yield on interest-earning assets has decreased 49 basis points to 5. (PR Newswire)
Northfield Bancorp, Inc. Announces June 30, 2009 Results Jul 30, 2009
" These private label securities had an amortized cost of $202.3 million, and an estimated fair value of $196.2 million, at June 30, 2009. At June 30, 2009, the private label securities portfolio was in a net unrealized loss position of $6.1 million, consisting of gross unrealized losses of $8.0 million, and gross unrealized gains of $1.9 million. All but two of the private label securities were rated AAA at June 30, 2009. Of the two securities, one with an estimated fair value of $5.8 million... (Primezone Releases)
No escape for Fed Jul 30, 2009
Raising the rate of interest paid on reserve balances will give us substantial leverage over the federal funds rate and other short-term market interest rates, because banks generally will not supply funds to the market at an interest rate significantly lower than they can earn risk free by holding balances at the Federal Reserve. . (Asia Times Online)
FSB Community Bankshares, Inc. Announces Second Quarter Results Jul 30, 2009
We have managed down deposit costs as market interest rates remain at historically low levels. Stockholders' equity at June 30, 2009 was $20. (PR Newswire)
Canfor Pulp Income Fund Announces Second Quarter 2009 Results Jul 25, 2009
Fluctuations in the market interest rates are not expected to have a material impact on the Partnership's results of operations due to the short-term nature of the respective financial assets and obligations and the fixed interest rate on long-term debt. The Partnership currently does not use derivative instruments to reduce its exposure to interest rate risk. (CCNMatthews Press Releases)
Transcript of a Press Teleconference Call with International Monetary Fund Officials on China's 2009 Article IV Consultation Jul 25, 2009
As you remove this tool of conducting monetary policy you ll have to find more indirect tools with which to affect market interest rates and domestic liquidity. So I think you need those preconditions in place in order to move forward on liberalization, which I think is why in the PIN and in our assessment we felt there needs to be a gradual approach, that there needs to be some care taken in moving forward on this. (IMF News)
First Financial Northwest, Inc. Reports Second Quarter 2009 Financial Results Jul 24, 2009
2 million in foregone interest (interest that has not been accrued on loans classified as nonperforming) during the second quarter of 2009 and to a lesser extent the general decline in market interest rates. This decrease was partially offset by an increase in interest income due to the rise in average interest-earning assets during the quarter as compared to the second quarter of 2008. (Primezone Releases)
'RBI may keep rates steady' Jul 23, 2009
A rate cut at this time would have a limited impact on the economy as the government's record market borrowing plan would increase competition for funds and prevent market interest rates from reflecting the full reduction in official rate, it said. The Reserve Bank of India (RBI) will hold its monetary policy review on Tuesday as the pressure to cut rates further has eased after the better-than-expected March quarter gross domestic product numbers and other data which points to a brighter... (India Times)
Delphi Reports Ninth Quarter of Production Growth and Increases Cash Flow and Financial Flexibility Jul 23, 2009
Interest rate risk is the risk that future cash flows will fluctuate as a result of changes in the market interest rates. The Company is exposed to interest rate risk to the extent that bank debt is at a floating rate of interest. (CCNMatthews Press Releases)
Eagle Bancorp, Inc. Announces 11% Increase in Earnings for the Second Quarter of 2009 and Lower Levels of Nonperforming Assets Jul 23, 2009
Margin compression, reflecting declines in market interest rates on earning assets resulting from Federal Reserve activities which have not been matched by comparable declines in rates on interest bearing liabilities, has been challenging the banking industry ... Increased gains from mortgage banking activities in the second quarter of 2009 reflect higher levels of mortgage refinancing given lower market interest rates ... 26% for the first six months in 2008, as the effects of a steep decline... (Primezone Releases)
State Bancorp, Inc. Reports Second Quarter 2009 Results Jul 22, 2009
" The Company's tangible common equity to tangible assets ratio (non-GAAP financial measure) was 6.75% at June 30, 2009 versus 7.13% at June 30, 2008 and 6.99% at March 31, 2009. The Company did not repurchase any of its common stock in 2009. Under the Board of Directors' existing authorization, up to 512,348 shares may be repurchased from time to time as conditions warrant. The Company does not presently anticipate repurchasing any of its shares in the immediate future. Corporate Information... (Primezone Releases)
Bernanke to keep easy US credit policy Jul 22, 2009
We have a number of tools that will enable us to raise market interest rates as needed,'' he said, noting that outright sales from the Fed's portfolio would also raise longer-term interest rates. He previewed the discussion in an opinion piece published late yesterday in the Wall Street Journal. (Sydney Morning Herald -- Business)
Bernanke not yet ready to ease accelerator Jul 22, 2009
"Should economic conditions warrant a tightening of monetary policy before this process of unwinding is complete, we have a number of tools that will enable us to raise market interest rates as needed," he said. The comments appeared somewhat more cautious about recovery than some had anticipated. (Yahoo! Asia News)
READ THE TESTIMONY: Bernanke's semiannual monetary report Jul 22, 2009
Nevertheless, should economic conditions warrant a tightening of monetary policy before this process of unwinding is complete, we have a number of tools that will enable us to raise market interest rates as needed ... Raising the rate of interest paid on reserve balances will give us substantial leverage over the federal funds rate and other short-term market interest rates, because banks generally will not supply funds to the market at an interest rate significantly lower than they can earn... (USA Today -- Money)
MACC Private Equities Inc. 2009 Annual Meeting of Shareholders Jul 21, 2009
In connection with these safe-harbor provisions, MACC has identified in its Annual Report to Shareholders for the fiscal year ended September 30, 2008, important factors that could cause actual results to differ materially from those contained in any forward-looking statement made by or on behalf of MACC, including, without limitation, the high risk nature of MACC's portfolio investments, the effects of general economic conditions on MACC's portfolio companies and the ability to obtain future... (PR Newswire)
Nigeria: CBN Relaxes Lending Guidelines to Boost Liquidity Jul 21, 2009
The circular, which was signed by CBN's Director, Banking Supervision, Samuel Oni, states: "Our circular to all banks reference BOD/DIR/CIR/GEN/01/23 of March 16, 2009 and BSD/DIR/GEN/CIR/03/012 of July 23, 2009 on the above subjects refer. In view of the tight liquidity situation in the market, it has become necessary to carry out the following review in order to moderate market interest rates in the overall interest of the economy. "Thus, with effect from the date of these circular, banks are... (allAfrica.com)
In defense of student loans Jul 19, 2009
But those loans should be made at market interest rates. Properly implemented, such a plan would eliminate the transfer of wealth from those who do not go to college to those who do. (Yahoo News)
Bill would pull students loans out of banks Jul 16, 2009
The government also gives banks a subsidy partly tied to market interest rates. To save money, in the early 1990s the government started making these same loans through the Department of Education under the Direct Loan program. (San Francisco Chronicle -- Business)
Read the story Jul 15, 2009
Obama: Unemployment Rate Likely to Rise - CBS News. We've updated CBSNews. (CBS News -- Evening News)
Destination Maternity Corporation Added to Russell 2000(R) Index and Russell 3000(R) Index Jul 1, 2009
The following factors, among others, in some cases have affected and in the future could affect the Company's financial performance and actual results and could cause actual results to differ materially from those expressed or implied in any such forward-looking statements: the impact of the current global economic slowdown on the retail industry in general and on apparel purchases in particular, our ability to successfully manage our various business initiatives, our ability to successfully... (PR Newswire)
CORRECTION FROM SOURCE: Clairvest Reports Fiscal 2009 Fourth Quarter and Year-End Results Jun 24, 2009
"Clairvest filed a new normal course issuer bid enabling it to make market purchases of up to 797,678 of its common shares in the 12-month period commencing March 6, 2009. As at June 23, 2009, Clairvest had repurchased a total of 5,709,578 common and non-voting shares over the last six years.Subsequent to year end, Clairvest declared an annual dividend of $0.10 per share, which will be payable July 27, 2009 to common shareholders of record as of July 10, 2009. This is an eligible dividend for... (CCNMatthews Press Releases)
G8 seeks exit from stimulus packages Jun 16, 2009
Pressure has been building in the G8, particularly from fiscally conservative nations like Germany and Canada, for plans to wind down stimulus packages as soon as they were no longer needed - "exit strategies" that would prevent market interest rates from climbing high enough to threaten economic recovery. The communique stressed there would be no immediate end to stimulus packages, noting that unemployment might continue rising even if production began picking up. (Business Report, South Africa)
Nigeria: IMF Chief - Worst of Global Crisis Not Over Jun 16, 2009
Pressure has been building in the G8 for plans to wind down economic stimulus as soon as it is no longer needed -"exit strategies"- that would prevent market interest rates from climbing high enough to threaten economic recovery. Strauss-Kahn referred to credit growth as a sign that financial activity was beginning to pick up, but did not say whether the IMF was ready to help with a possible "exit strategy" once economic recovery is certain. (allAfrica.com)
Brookdale Announces Pricing of $150 Million Follow-On Offering Jun 3, 2009
June 2 /PRNewswire-FirstCall/ -- Brookdale Senior Living Inc. (NYSE: ) (the "Company") today announced the pricing of its follow-on public offering of 13,953,489 shares of its common stock at a price of $10. 75 per share, raising gross proceeds of $150 million. (PR Newswire)
Jackson Hewitt Reports Preliminary 2009 Tax Filing Results May 29, 2009
Because these forward looking statements involve risks and uncertainties, actual results may differ materially from those expressed or implied in the forward-looking statements due to a number of factors, including but not limited to: Jackson Hewitt's ability to timely or effectively respond to customer trends and attract new customers, develop and make new products available through Jackson Hewitt's offices, improve Jackson Hewitt's distribution system or reduce Jackson Hewitt's cost structure;... (PR Newswire)
Pine Cliff Energy Ltd. Announces First Quarter Results May 28, 2009
QUICK SEARCH BY ORGANIZATION. FREE SUBSCRIPTION SERVICES. (Canada Newswire)
Parkland prepares to issue bonds for replacement hospital May 27, 2009
Until that time, Parkland can wait, but if the market interest rates continue to fall, we want to be in the position to take advantage of the lower rates, he said. Parkland was waiting for its target interest rate of 4. (Dallas Business Journal, TX)
Canada Is `Well-Positioned' to Provide More Stimulus if Needed, IMF Says May 23, 2009
Those actions could include unconventional measures by the Bank of Canada, such as acquiring assets to lower market interest rates or bolster liquidity in financial markets, the organization said. Canada would be well-positioned to participate in a further, internationally coordinated stimulus effort, if warranted, the IMF said in the report. (Bloomberg -- Canada)
New York Fails to Reward Taxpayers With Discounts Missed in Debt Financing May 22, 2009
The state, without bothering to take advantage of market interest rates, paid face value for auction-rate bonds in February and March when the same debt traded at discounts of as much as 40 percent, Municipal Securities Rulemaking Board prices show. The securities, maturing in 2011 and 2022, are part of $1. (Bloomberg)
Armtec Infrastructure Income Fund Unveils New Corporate Visual Identity May 21, 2009
The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: industry cyclicality; competition; reduction in demand for products; collection from customers; relationships with suppliers; lack of long-term agreements; expiration of rights under licence and distribution arrangements; raw material price volatility; product liability; intellectual property; reliance on key personnel; environmental; collective bargaining; interest... (Canada Newswire)
The U.S. Federal Reserve policymakers are seeing "some tentative evidence" that the economy is starting to improve from the great recession. • Geithner says U.S. financial system starting to heal May 21, 2009
Geithner says U.S. financial system starting to heal_English_Xinhua. Geithner says U.S. financial system starting to heal. (Xinhuanet, China)
3SBio Inc. Announces Unaudited First Quarter 2009 Results May 20, 2009
As experienced last quarter, the decrease in interest income was partially due to the decrease in the prevailing market interest rates in the first quarter of 2009 compared to the same period of last year. Net income. (PR Newswire)
1st Financial Services Corporation Reports First Quarter Earnings May 19, 2009
Other factors that could influence the accuracy of those forward-looking statements include, but are not limited to: (a) the financial success or changing strategies of our customers; (b) customer acceptance of our services, products and fee structure; (c) changes in competitive pressures among depository and other financial institutions or in our ability to compete effectively against larger financial institutions in our banking market; (d) actions of government regulators, or changes in laws,... (PR Newswire)
READ: Text of Geithner's prepared remarks May 14, 2009
TG-127: Remarks by Secretary Tim GeithnerBefore the Independent Community Bankers of AmericaAnnual Washington Policy Summit. Remarks by Secretary Tim GeithnerBefore the Independent Community Bankers of AmericaAnnual Washington Policy Summit. (USA Today -- Money)
This time real money is at risk May 12, 2009
If the Government failed to make a good case it could reduce its borrowing in the future market interest rates could rise, Mr Haslem said. The Government's need to increase revenue and cut spending poses risks to a number of sectors and the earnings of the superannuation funds that invest in them. (Sydney Morning Herald -- Business)
PremierWest Bancorp Announces First Quarter Results May 12, 2009
Market interest rates declined dramatically from the same period last year and were held at low levels during the current quarter by the Federal Reserve to stimulate the economy. The interest rate environment affected both our yield on earning assets and our cost of interest-bearing deposits. (Primezone Releases)
All eyes on the deficit May 11, 2009
If the Government fails to make a good case it can reduce its borrowing in the future, market interest rates could rise, Mr Haslem said. "It used to be all about how big the tax cuts are and how surplus they will have left over,'' Mr Haslem said. "Now it is all about how big the deficits will be and how much money they need to raise. (Sydney Morning Herald -- Business)
FMX Ventures Inc.: Financial Statements and MD&A for the 12 Months Ended December 31, 2008 May 9, 2009
Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates ... Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. (CCNMatthews Press Releases)
Loans of $10,000 to lower home energy use May 9, 2009
The Government anticipates that loans will be repaid in that time but if they are not then market interest rates will apply to the remainder of the loan. Five credit unions have agreed to run the loans on behalf of the Government but none of the major banks have shown interest. (Sydney Morning Herald -- Australia)
Yikes! Series I Savings Bonds paying 0.0% May 8, 2009
Its fixed for the life of the bond maturity (in this case 30 years), and you collect it no matter what happens to market interest rates. The inflation protection comes in the form of a second, inflation-adjustment rate, which is set twice a year based on the Consumer Price Index. (MSNBC -- Business)
EPCOR Announces Quarterly Results May 8, 2009
The $4 million decrease was primarily due to lower short-term and higher long-term market interest rates. In the first quarter of 2008, a $9 million reduction in fair value was recognized. (Canada Newswire)
Enerplus announces results for first quarter 2009 May 8, 2009
General and Administrative Expenses ("G During the first quarter of 2009 Gnses increased 9% to $2.21/BOE or $18.9 million compared to $2.03/BOE or $16.4 million in the first quarter of 2008. The year-over-year increase was primarily due to higher compensation costs associated with the increased number of employees along with increased office space. Gthe quarter was in line with expectations and on a BOE basis we expect it will increase during the year as our production is anticipated to decline.... (Canada Newswire)
SunTrust Responds to U.S. Government's Stress Test Report May 8, 2009
Factors that could cause actual results to differ materially from those described in the forward-looking statements include changes in market interest rates or capital markets could adversely affect our revenue and expense, the value of assets and obligations, and the availability and cost of capital or liquidity; our stock price can be volatile and current levels of market volatility are unprecedented, and these could impede our ability to increase our Tier 1 Common Equity; the fiscal and... (PR Newswire)
HSBC Bank Canada first quarter 2009 results* May 7, 2009
Volatility in market interest rates and credit spreads continued to affect the valuation of trading assets and liabilities, which have significantly impacted reported results. Trading revenue was higher mainly as a result of the impact of mark to market gains from interest rate derivatives used as economic hedges. (Canada Newswire)
Ag Growth Announces Results for the Three Months Ended March 31, 2009 May 7, 2009
"Company ProfileAg Growth is a leading manufacturer of portable and stationary grain handling, storage and conditioning equipment, including augers, belt conveyors, grain storage bins, grain handling accessories and grain aeration equipment. Ag Growth's sales, marketing, and distribution system is comprised of approximately 1,400 dealers and distributors that distribute product in 48 states, nine provinces, and overseas.Non-GAAP measuresReferences to "gross margin" are to sales less cost of... (CCNMatthews Press Releases)
Daylight Resources Trust Reports First Quarter 2009 Financial and Operating Results - RECORD PRODUCTION CONTINUES TREND AS DAYLIGHT BUILDS FOR THE FUTURE May 7, 2009
Daylight's bank debt interest rate is expected to continue to correlate with market interest rates during 2009 ... Interest rate risk is the risk that future cash flows will fluctuate as a result of changes in market interest rates ... The Trust is exposed to interest rate risk to the extent that changes in market interest rates will impact the Trust's bank debt which is subject to a floating interest rate. (CCNMatthews Press Releases)
Brookdale Announces First Quarter 2009 Results; CFFO of $0.49 per Share May 7, 2009
Factors which could have a material adverse effect on our operations and future prospects or which could cause events or circumstances to differ from these forward-looking statements include, but are not limited to, the risk associated with the current global economic crisis and its impact upon capital markets and liquidity; our inability to extend (or refinance) debt as it matures or replace our amended credit facility when it matures; the risk that we may not be able to satisfy the conditions... (PR Newswire)
DNB Financial Corporation Announces First Quarter 2009 Earnings May 2, 2009
The decline in interest income was due to lower yields on earning assets as a result of 2008 declines in market interest rates, offset in part by higher average balances. The average balance of earning assets for the three months ended March 31, 2009 was $513. (Primezone Releases)
Investors Bancorp, Inc. Announces Third Quarter Financial Results May 1, 2009
The decrease in fair value for these securities is attributed to changes in market interest rates. One security with an amortized cost of $8. (PR Newswire)
Columbia Bancorp Reports First Quarter 2009 Financial Results Apr 30, 2009
These risks and uncertainties include, without limitation, our ability maintain and grow our deposit base in the face of continuing uncertainty surrounding the financial institutions industry and our markets in particular; our ability to raise additional capital to address the risk of exacerbated or protracted economic declines; our ability to estimate accurately the collectability of our loans and mitigate the potential risks associated with acquisition and sale of any underlying collateral;... (PR Newswire)
Centerra Gold Reports First Quarter Results Apr 30, 2009
Fluctuations in market interest rates during the first quarter 2009 have not had a significant impact on the Company's results of operations due to the short-term to maturity of the investments held. iv) Concentration of Credit Risk. (CCNMatthews Press Releases)
Eurozone interest rates won't go to zero: ECB chief Apr 18, 2009
The ECB has so far been reluctant to follow the example of its counterparts in Japan, the US and Britain, which have programmes to buy corporate bonds aimed at bringing down market interest rates. Some ECB officials, such as vice president Lucas Papademos, have suggested the bank could follow its peers in buying corporate bonds to ease credit market tensions, fanning talk of a split between policymakers. (Yahoo News -- Top Stories)
AP: Mo. Senate Endorses Expanding State Deposits Apr 18, 2009
The cap would be eliminated in 2014 and the state would receive market interest rates on all bank deposits. The legislation, sponsored by Republican Sen. (Missourian Publishing, MO)
Advice To The New Ghanaian President Apr 17, 2009
(3) Carefully manage grants such as the MCA account by investing in long term banking at below market interest rates, with a special competent staffing, and not put in the General Fund of government to spend. (4) Research and Development should be strongly prioritized. (Ghana Web, Ghana)
Allianz Global Investors Fund Management LLC Announces Change to An Investment Policy of PIMCO Municipal Bond Funds Apr 7, 2009
In addition to general market risks, the Funds' investments in RIBs may involve greater risk and volatility than an investment in a fixed rate bond, and the value of RIBs may decrease significantly when market interest rates increase. RIBs have varying degrees of liquidity, and the market for these securities may be volatile. (Primezone Releases)
Good time to fix home loan rate: broker Apr 6, 2009
Fixed rate mortgages are based on wholesale market interest rates, while standard variable rates are usually led by official interest rate decisions. Many consumers are unaware that the variable rates move differently to fixed rates and by the time variable rates have bottomed they have missed the best opportunity to fix,'' Loan Market Group executive director John Kolenda said. (Sydney Morning Herald -- Business)
Oil nears $US50 as optimism grows Mar 19, 2009
Analysts said oil's rebound was also bolstered by a sharp drop in the US dollar, which posted its largest percentage drop since 1985, as the Fed's move, aimed at resuscitating lending, prompted a sharp fall in market interest rates. US light crude for April delivery recouped previous sessions' losses and rose $US1. (Sydney Morning Herald -- Business)
