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News Breaks
July 21, 2014
17:47 EDTCS, AFAstoria Financial to sell non-performing residential mortgages to Credit Suisse
Astoria Financial (AF) announced that the bank had entered into an agreement to sell certain non-performing residential mortgage loans, or NPL, to Credit Suisse (CS) for consideration of approximately $186M. The NPL Sale is expected to close on or about July 31, subject to usual and customary closing conditions. In anticipation of the NPL Sale, such non-performing loans were designated as held-for-sale as of June 30 and were written down from their carrying value of approximately $195M to their estimated fair value of $186M. As a result, the company recorded an $8.7M charge-off and a $5.7M loan loss release in Q2.
News For AF;CS From The Last 14 Days
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January 28, 2015
16:57 EDTAFAstoria Financial CEO sees 2015 net interest margin "relatively flat" vs. 2014
Astoria Financial CEO Monte N. Redman stated, "We are encouraged by the first net growth we have seen in the loan portfolio in the past nine quarters and our fourth consecutive year of double digit growth in business deposits. We believe that we will continue to grow these deposits in 2015 which will also provide us with some measure of interest rate sensitivity protection. With respect to our net interest margin, while we are pleased with the 7 basis point growth to 2.32% which we achieved for the full year 2014 compared to the full year 2013, given the headwinds created by the flattening of the yield curve in this continued low rate environment, we believe that our net interest margin for 2015 will be relatively flat compared to our 2014 net interest margin."
16:56 EDTCSFederal judge says FOREX manipulation case to proceed, Reuters reports
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16:56 EDTAFAstoria Financial reports Q4 EPS 21c, consensus 16c
Reports Q4 NII $83.92M, consensus $84.41M. Reports Q4 loan loss provision ($2.3M) vs. $3.4M a year ago. Reports Q4 net charge-offs ($0.3M) vs. $7.4M a year ago.
January 27, 2015
10:00 EDTCSOn the Fly: Analyst Downgrade Summary
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08:20 EDTCSFCC to hold a conference
Small Business and Emerging Technologies Conference is being held at FCC Washington, D.C. with webcasted presentations to begin at 9 am. Webcast Link
06:52 EDTCSEuropean Central Bank raises capital requirements for banks, WSJ says
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05:07 EDTCSCredit Suisse downgraded to Hold from Buy at Jefferies
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January 23, 2015
09:31 EDTAFCitadel Advisors reports 5% passive stake in Astoria Financial
January 20, 2015
08:41 EDTCSCredit Suisse's capital ratios not changed by unstable Swiss franc, Reuters says
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06:39 EDTCSCredit Suisse will charge certain clients for franc accounts, Reuters says
On January 22, Credit Suisse will begin charging some large corporate clients for franc accounts in order to introduce negative interest rates, reports Reuters, citing Credit Suisse spokeswoman Daniela Haesler. Reference Link
January 16, 2015
16:29 EDTCSOn The Fly: Closing Wrap
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