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Stock Market & Financial Investment News

News Breaks
January 16, 2013
07:23 EDTFNFGFirst Niagara makes adjustment to accelerate CMO premium amortization
First Niagara announced that it will recognize a pre-tax adjustment of $16M, or 3c per share, in 2012 to accelerate premium amortization on its Collateralized Mortgage Obligations, or CMO, portfolio. The adjustment reduces the amount of unamortized premium on the CMO portfolio to reflect the impacts of the substantial level of prepayments received in recent months and the expected elevated levels of cash flows to be received for the foreseeable future. Except for this adjustment, First Niagara expects to report non-GAAP operating earnings per share consistent with current consensus analyst expectations. Excluding any impacts of this adjustment, the net interest margin in Q4 is expected to be 3.42%.
News For FNFG From The Last 14 Days
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February 5, 2016
07:34 EDTFNFGFirst Niagara reports Q4 EPS 15c, consensus 15c
Reports Q4 book value per share $10.78. Reports Q4 CET1 capital ratio 12%.
February 1, 2016
09:27 EDTFNFGFirst Niagara says Blake Grossman to succeed Paul Koontz as Chairman
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09:27 EDTFNFGFirst Niagara completes acquisition of The Mutual Fund Store
Financial Engines has completed the previously announced acquisition of The Mutual Fund Store for approximately 9.9 million shares of newly-issued Financial Engines common stock and approximately $250M in cash, subject to certain closing and post-closing adjustments. Following closing, Warburg Pincus is expected to become Financial Engines' largest stockholder with a beneficial ownership of approximately 13%. Michael Martin, managing director of Warburg Pincus LLC, has also been appointed to the Financial Engines board of directors, effective February 1, 2016. The acquisition will enable Financial Engines to expand its independent advisory services to 401(k) participants through comprehensive financial planning and the option to meet face-to-face with a dedicated financial advisor at one of more than 125 national locations. The Mutual Fund Store is a fast-growing registered investment adviser providing personalized financial planning and objective, fiduciary advice through advisors in locations across the United States. As of December 31, 2015, The Mutual Fund Store had approximately 352 employees, 84,000 accounts at 39,000 households, and over $9.7B in assets under management.

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