A Boston-based startup has launched a crowdfunding equity sale to fund a blockchain-enabled solar microgrid project.
Boston, MA, August 13, 2018 –(PR.com)– On Thursday, August 9th, Boston-based energy blockchain company Power2Peer launched a crowdfunding equity sale via StartEngine’s fundraising platform.
Power2Peer, which was founded in 2017 by MIT alumni and renewable energy veteran Dr. Nish Sonwalkar, is a company based on the concept of the blockchain-enabled adaptive solar microgrid network. Such systems connect solar power producers and consumers with the goal of more efficiently and profitably utilizing available solar energy. According to Greentech Media, other energy-facing blockchain companies have raised over $300 million in the past year.
Power2Peer is now seeking investors to purchase equity through a StartEngine campaign, the proceeds from which will fund company operation going forward. In their white paper, Power2Peer outlined a goal to launch block-enabled adaptive solar microgrids in 28 cities following demo sites in Massachusetts.
Power2Peer has been an active player in Boston’s tech-friendly renewable energy community. Events hosted by the company this year have attracted hundreds of guests, many curious about the future of blockchain as it pertains to solar power.
Raleigh, NC, August 02, 2018 –(PR.com)– AmericaTowne Holdings, Inc. f/k/a ATI Modular Technology Corp., a Nevada corporation (the “Company,” OTC: ATMO) is pleased to announce its merger with AmericaTowne, Inc., a Delaware corporation (“AmericaTowne”), effective July 31, 2018. This brings to a close a series of corporate actions initiated for the intended purpose of streamlining the Company and AmericaTowne’s respective business plans, and increasing shareholder value.
Prior to the merger, the Company was a subsidiary of AmericaTowne. The Company’s business plan was narrow, focusing primarily on the development of modular technology and construction. AmericaTowne, on the other hand, had a broad business plan that included developing “AmericaTowne Communities” around the world, facilitating trade agreements, and partnering with African governments to supply building and infrastructure materials, among other things. Moving forward, the Company intends on continuing with its business plan, while also absorbing and assuming all of AmericaTowne’s agreements, contracts, and business relationships. This allows the Company to diversify its overall business portfolio, while cutting costs associated with maintaining two separate publicly reporting companies.
As a result of the merger, the Company made a pro rata distribution of registered common stock to former AmericaTowne shareholders. The distribution was made pursuant to the Company’s Registration Statement on Form S-4, effective as of June 26, 2018. The merger also signals the effectuation of several related corporate actions, including the Company’s name change to “AmericaTowne Holdings, Inc.,” the Company’s 50:1 reverse stock split, and AmericaTowne’s 1:4 forward stock split. These corporate actions, along with the original Plan of Merger between the Company and AmericaTowne, were detailed extensively in the Company’s Information Statement on Schedule 14C, mailed to the Company’s shareholders on July 6, 2018 and the shareholders of AmericaTowne on July 11, 2018. The Company is processing assumed name filings in Nevada in order for the Company to operate as “AmericaTowne” and “ATI Modular Technology Corp.”
The Company’s Chief Executive Officer Alton Perkins stated: “The completion of the merger between the Company and AmericaTowne is a significant step toward streamlining and simplifying the companies’ operations. The Company and AmericaTowne’s prior business relationships and obligations will be maintained under one entity. We chose to rename the Company ‘AmericaTowne Holdings, Inc.’ because the Company is no longer solely in the business of modular technology. Rather, with the assumption of AmericaTowne’s business, the Company has several business objectives, all of which we intend on pursuing aggressively.”
About AmericaTowne Holdings, Inc. and AmericaTowne, Inc. AmericaTowne Holdings, Inc. (the “Company”) is the surviving entity following the merger of AmericaTowne, Inc. (“AmericaTowne”), a reporting company, and ATI Modular Technology Corp. (“ATI Modular”). The filings of AmericaTowne can be found at www.sec.gov. The Company shall continue to conduct business under the assumed names of AmericaTowne and ATI Modular Technology Corp. following the effectiveness of the merger. The merger will be deemed effective July 26, 2018, which is the date twenty days after service of the Definitive Schedule 14Cs of AmericaTowne and ATI Modular Technology Corp. The Company has been advised that the Definitive Schedule 14Cs will be mailed on July 6, 2018. The shareholders of AmericaTowne shall be receiving registered shares through the Form S-4 deemed effective on June 26, 2018. The merger does not impact or impair any contractual relationships with consumers or customers of AmericaTowne or ATI Modular. Further information regarding the merger and issuance of shares in connection with the merger will be set forth in a future release. In the interim, the reader is encouraged to review the filings on AmericaTowne and the Company on EDGAR for further information.
The Company intends on continuing to pursue its objectives in providing upper and middle-income consumers in China with “Made In The USA” goods and services allowing such consumers to experience United States’ culture and lifestyle. The pursuit of these objectives will continue to be done through AmericaTowne, as an assumed name of the Company. In addition, the Company believes it has made significant progress in developing its business platform in Africa by implementing business and commerce solutions considered mainstream in America, but relatively new in these developing countries. The Company’s recent developments in Africa have been highlighted through numerous contractual disclosures on EDGAR. The Company’s goal in Africa is through international trade, infrastructure development, and investing to help people, communities, and countries solve problems, prosper and grow. The Company intends on continuing to deploy resources, research and expertise in evaluating further opportunities in developing countries as part of its overall growth model. Notwithstanding its recent progress and intentions, there is no guarantee that the Company will be successful.
Forward Looking Statement
This press release contains forward-looking statements that relate to expectations, beliefs, projections, future plans and strategies, anticipated events and similar expressions. Forward-looking statements may be identified by use of words such as “may,” “will,” “should,” “could,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” or “potential” or similar words or phrases which are predictions of or indicate future events or trends. Statements such as those concerning potential acquisition activity, investment objectives, strategies, opportunities, other plans and objectives for future operations or economic performance are based on the Company’s current expectations, plans, estimates, assumptions and beliefs that involve numerous risks and uncertainties. Any of these statements could prove to be inaccurate and actual events or investments and results of operations could differ materially from those expressed or implied. To the extent that the Company’s assumptions differ from actual results, the Company’s ability to meet such forward-looking statements may be significantly and negatively impacted. You are cautioned not to place undue reliance on any forward-looking statements and the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, new information, future events or other changes.
Chicago, IL, July 31, 2018 –(PR.com)– Practice Leader Allison Winge and Vice President, Client Relations Pamela Appell of Plexus Financial Services, LLC recently participated as delegates to the National Association of Plan Advisors’ (NAPA) Annual DC Fly-In Forum, an exclusive gathering of the nation’s leading retirement plan advisors.
Delegates to the NAPA DC Fly-In Forum converged in the nation’s capital to listen to and brief top congressional leaders about the impact and importance of the nation’s workplace retirement plans, and, as advocates for the employers and participants they work with, shared how proposed laws and regulations might impact American workers’ retirement security. Plexus Financial Services, LLC a member of NAPA, was one of approximately 200 delegates selected to participate in the sixth annual NAPA DC Fly-In Forum July 24-25.
This year NAPA DC Fly-In Forum delegates heard from Congressman Richie Neal (D-Massachusetts), and Senator Todd Young (R-Indiana), both of which have recently introduced legislation that would impact retirement plans, as well as Assistant Secretary of Labor Preston Rutledge and Securities and Exchange Commissioner Hester Peirce, key figures in recent developments regarding considerations regarding a fiduciary standard. Panel discussions with key Hill staffers shed light on prospects for legislative reforms, and delegates also gained insights on litigation trends and new retirement policy proposals, followed by a dinner keynote address featuring a perspective on the mid-term elections from CNN Chief National Correspondent John King.
On the second day of the forum, delegates met one-on-one with their respective congressional representatives on Capitol Hill to share insights from the experiences they have on a daily basis with business owners and plan participants – and to provide perspectives on proposed and current legislation.
In order to participate in the NAPA DC Fly-In Forum, delegates were required to be a NAPA member; to be responsible for $100M+ in plan assets, 10+ plans and 2,000+ participants; and to have at least five years of experience servicing retirement plans.
The National Association of Plan Advisors was created by and for retirement plan advisors. Membership is also open to other retirement industry professionals who support the interests of plan advisors. NAPA is the only advocacy group exclusively focused on the issues that matter to retirement plan advisors. NAPA is part of the American Retirement Association. The American Retirement Association, based in the Washington, D.C. area, is a non-profit professional organization established to educate all types of retirement plan professionals, and to preserve and enhance the employer-based retirement plan system as part of the development of a cohesive and coherent national retirement income policy.
Disclosure Plexus Financial Services, LLC (“PFS”) does not provide specific investment, tax, and/or legal advice and the information referenced/provided is not specific to any company’s or individual’s circumstances. These materials are general in nature and provided for educational purposes based upon publicly available information from sources believed to be reputable and reliable; we cannot assure the accuracy or completeness of these materials and as a result, personal diligence should be completed before relying or acting upon the information presented. Any general information referenced/provided is not be construed as personalized investment, tax, and/or legal advice. Always consult an advisor, attorney and/or tax professional regarding your specific situation.
This communication is strictly intended for individuals residing in the states of Alabama, Arkansas, Colorado, Georgia, Illinois, Indiana, Louisiana, New Jersey, New York, North Carolina, Ohio, Oklahoma, Pennsylvania, Texas, Washington, and Wisconsin and does not provide any information regarding any offers or services directly provided by PFS. The information referenced/provided is not to be considered an offer to buy or sell, or a solicitation of any offer.
PFS is a wholly owned subsidiary of The Plexus Groupe LLC. Advisory services are offered through Plexus Financial Services LLC, a registered investment advisor with the SEC which transacts business in states where it is properly registered, or is excluded or exempted from registration requirements, member FINRAwww.finra.com, and the SIPC www.sipc.com. SEC registration does not constitute an endorsement of the firm by the Commission nor does it indicate that the adviser has attained a particular level of skill or ability.
In an effort to help financial advisors reach their marketing potential, ReminderMedia is now providing its products to LPL advisors as part of the firm’s Vendor Affinity Program.
King of Prussia, PA, July 28, 2018 –(PR.com)– For more than 14 years, ReminderMedia – a sales and marketing company based outside of Philadelphia – has been helping financial professionals and other sales-based businesses simplify their marketing efforts to garner more repeat and referral business.
In an effort to help financial advisors reach their marketing potential, ReminderMedia is now providing its products to LPL advisors as part of the firm’s Vendor Affinity Program. LPL is a leader in the retail financial advice market and the nation’s largest independent broker-dealer*.
ReminderMedia president Luke Acree says, “It is an honor to be chosen by LPL for its Vendor Affinity Program. We are excited to offer our marketing tool for financial advisors to help maintain their most critical asset – client relationships – and to generate more referrals from their top clients and spheres.”
ReminderMedia’s mission for taking the complications and weight of marketing off of the professional is in line with the goals of LPL’s Vendor Affinity Program, designed to help advisors reduce the complexity and costs of running their businesses. The program consists of a centralized repository of vendors that have agreed to provide their products and services to LPL advisors at discounted prices. Vendors are selected based on advisor experience and their ease of doing business with LPL advisors and have met certain security and compliance requirements.
LPL advisors will be able to use its flagship product, American Lifestyle magazine, and host of other tools and services, able to build stronger relationships with their core clients, fostering long-term growth.
“At LPL we are committed to offering resources, tools and services that make it easier and more effective for our advisors to manage and grow their businesses,” said Andy Kalbaugh, LPL Financial managing director and divisional president, National Sales and Consulting. “With our Vendor Affinity Program, we are able to leverage the firm’s scale to directly impact our clients’ bottom line and further enhance the value in affiliation with LPL.”
ReminderMedia is thrilled to be offering its products to LPL Financial advisors, and looks forward to providing the tools they can use to succeed, while affording more freedom for professionals to focus on the aspects of their life and business that matter most.
*Based on total revenues, Financial Planning magazine June 1996-2018
One should invest only with one or more goals in mind. This webinar identifies key events and discusses approaches to husbanding our investment dollars.
Chicago, Illinois (PRWEB)July 16, 2018
The Financial Poise INVESTING BASICS 2018 webinar series is intended for the investor who wants to reduce the “unknown unknowns” of investing.
First, a refresher on asset allocation and portfolio theory, i.e., how to array your investments to produce reliable returns over time and temper potential losses. Then two episodes on the “why?” of investing – the goals one pursues, such as financing family events, retirement, and the fate of your assets when you meet your Maker or Makers or fade to black or whatever. Tax and legal and investment professionals have their uses, but you get more from them when you know what questions to ask and what information to insist on receiving. The final two episodes turn topical, taking up special topics, including options and private securities (as well as public securities).
The second episode of the series, Goal Based Investing- Planning for Key Life Events, airs on July 17th at 2:00 PM CST (Register Here) and features Moderator Christopher Cahill of Lowis & Gellen LLP. He is joined by Jonathan Friedland of Sugar Felsenthal Grais & Helsinger, Michael Terrien of West Loop Financial LLC, and Yuen Yung of Casoro Capital to discuss investing with a focus on funding specific life goals.
There is a redundancy in the title for this episode, for one should invest only with one or more goals in mind. This goes along with being the ally of the future version of you – someone you like and hope to admire. This webinar identifies key events and discusses approaches to husbanding our investment dollars.
The INVESTING BASICS 2018 webinar series is produced by Financial Poise.™ Future episodes in the series include “The Legal & Tax Aspect of Investing: Asset Protection; Estate Planning, and Tax Efficiency,” airing on August 14th, “Advanced Investing Topics: Unicorns and Pre-Unicorn Scalable Private Company Propositions,” airing on September 25th and “Options for the Accredited Investor,” airing on October 23rd. Each episode airs at 2:00 PM CST. All episodes premiere live through West LegalEdCenter and then are made available on-demand.
As with every Financial Poise Webinar, each episode is delivered in Plain English understandable to investors, business owners, and executives without much background in these areas, yet is also valuable to attorneys, accountants, and other seasoned professionals. And, as with every Financial Poise Webinar, each episode brings you into engaging, sometimes humorous, conversations designed to entertain as it teaches. Each episode in the series is designed to be viewed independently of the other episodes, so that participants will enhance their knowledge of this area whether they attend one, some, or all episodes.
About Financial Poise™
Financial Poise™ has one mission: to provide reliable plain English business, financial and legal education to investors, private business owners and executives, and their respective trusted advisors. Financial Poise™ content is created by seasoned, respected experts who are invited to join our Faculty only after being recommended by current Faculty Members. Our editorial staff then works to make sure that all content is easily digestible. Financial Poise™ is a meritocracy; nobody can “buy” her way onto the Financial Poise Faculty.™ Start learning today at https://www.financialpoise.com/
National wealth management firm Lucia Capital Group today announced its forthcoming subscription service, ClickGoals, which will offer financial planning advice and investment management services at a range of prices reflecting investors’ service requirements.
In an effort to better serve an ever-widening range of client needs, the new ClickGoals subscription service will target investors with simple portfolios as well as those just starting out.
“The goal is to match the value of services provided with the end cost to the client,” said Ray Lucia Jr., chairman and CEO of Lucia Capital Group. “We look at our services as a combination of financial planning and investment management. Some clients need a lot of financial planning advice and are less focused on investment management services, while others focus more heavily on investment management services and have little need for financial planning advice. That’s why we’ve created a way for our firm to service a wide range of investors’ needs that’s independent of how much those clients choose to invest with us. With the rollout of ClickGoals.com, you can be our client for a low monthly subscription fee and expand your relationship over time into our other programs where we offer more advice and investment management services. It’s our way of showing we are here to help in whatever capacity is best for you.”
ClickGoals, expected to start as low as $50 per month, will be a powerful tool for investors not needing considerable financial advice. ClickGoals subscribers will be given access to a Personal Financial Dashboard where they can securely view all of their accounts in one place (such as bank accounts, credit card balances, and investment accounts). Subscribers will also gain access to budgeting and goal planning tools on a self-directed basis. In addition to receiving complimentary coaching services related to managing their Personal Financial Dashboard, for a fee subscribers will also be able to work with CERTIFIED FINANCIAL PLANNER™ professionals for project-based services, such as asset allocation and portfolio risk management, education funding, life insurance gap analysis, retirement probability (using a Monte Carlo simulation), and other what-if scenarios. Project-based services are expected to be priced at a modest $97 per engagement. Lastly, subscribers will also receive access to globally diversified portfolios providing market access at internal expenses that are a fraction of the standard cost. Investment management services for these accounts is included in the monthly subscription fee.
“As we strive to constantly exceed the expectations of our clients, we are extremely proud of this lineup of services designed with our clients in mind,” said Joe P. Lucia, president of Lucia Capital Group. “By leveraging our technology behind the scenes, we aim to provide seamless, hassle-free transitions between services as clients’ needs evolve over time.”
Lucia Capital Group employs a wealth of technology in order to make its ClickGoals subscription service flourish. In addition to contracting eMoney and Riskalyze as the firm’s primary technology providers, Lucia Capital Group also utilizes Schwab Institutional Intelligent Portfolios for its digital investing platform, Salesforce for CRM, Orion Advisor Services for trading and portfolio management, and its own proprietary Bucket Strategy Illustration Software for retirement planning services.
Currently, Lucia Capital Group offers two levels of service to its clientele: the Lucia Wealth Program and the Private Client Program.
The Lucia Wealth Program is for investors nearing or living out their retirement. In addition to receiving all benefits that will be offered by the ClickGoals program in the fall, Lucia Wealth Program investors work with a dedicated financial advisor and enjoy access to a wide range of investment management services (including mutual fund and ETF model portfolios; individual stock portfolios; advisor-directed services, including management of legacy positions; and other personalized investment management, including alternative investments and annuities).
The Private Client Program provides advice and financial coaching for high-net-worth investors. Advisors servicing this client group focus on providing a completely personalized investment program, covering individual equity and fixed-income investments, as well as individualized tax management for specific securities.
ClickGoals is expected to launch in fall 2018. For more information, visit ClickGoals.com.
Information presented should not be considered specific tax, legal, or investment advice. You should always seek counsel of the appropriate advisor prior to making any investment decision. All investments are subject to risk including the loss of principal. This material was gathered from sources believed to be reliable; however, its accuracy cannot be guaranteed.
Different types of investments and/or investment strategies involve varying levels of risk, and there can be no assurance that any specific investment or investment strategy (including the investments purchased and/or investment strategies devised by LCG) will be either suitable or profitable for a client’s or prospective client’s portfolio, thus, investments may result in a loss of principal. Accordingly, no client or prospective client should assume that the presentation (or any component thereof) serves as the receipt of, or a substitute for, personalized advice from LCG or from any other investment professional.
The Bucket Strategy® involves investments subject to risks, fees, and expenses. There is no guarantee that any investing strategy will be profitable or provide protection from loss.
Raymond J. Lucia Jr. and Joseph P. Lucia are registered representatives of, and offer securities through, Lucia Securities, LLC, a registered broker dealer, member FINRA/SIPC. Advisory services offered through Lucia Capital Group, a registered investment advisor and an affiliate of Lucia Securities, LLC. Registered representatives of Lucia Capital Group only conduct business in the states where they are currently licensed. Registration with the SEC does not imply a certain level of skill or training.
eMoney, Riskalyze, Schwab Institutional Intelligent Portfolios, Salesforce, and Orion Advisory Services are not affiliates of Lucia Capital Group or any of its subsidiaries.
Sophie brought the Top Gun program from concept to reality, and more importantly, she exudes a passion and unwavering commitment to the personal development and professional enrichment of everyone who crosses her path.
REDONDO BEACH, Calif. (PRWEB)July 16, 2018
Civic Financial Services announced Director of Learning and Development, Sophie Kim, has been recognized by HousingWire as a 2018 Rising Star, a distinction given to the top up-and-coming leaders in the mortgage industry. The 46 winners represent a variety of backgrounds and occupations within the housing industry, but all of them exhibit an outsized impact on the industry and the businesses they represent.
“Sophie has played an integral role in the training and development initiatives at CIVIC, including the creation of our elite training program, Top Gun,” said William J. Tessar, President of Civic Financial Services. “Sophie brought the program from concept to reality, and more importantly, she exudes a passion and unwavering commitment to the personal development and professional enrichment of everyone who crosses her path.”
The focus of the Top Gun Program, created by Kim, is to help sales professionals without lending experience learn all aspects of private money lending – the CIVIC way. When CIVIC first began its search for top talent to participate in the coveted program it received 1,186 applications, of which over 100 candidates were interviewed and only 14 were selected. Now seeking candidates for the third class, the program entails a six-week structured course, followed by 6-8 weeks of one-on-one mentorship with senior level Account Executives. After graduating from the program, the Top Gunners then move to a full time Account Executive position with annual earning potential well over $100,000.
Tessar added, “In less than two years of service Sophie has added such a tremendous value to our organization, and I could not be more proud of the recognition the Rising Star bestows upon her.”
“This year’s class of Rising Stars represents the best in young leadership within the mortgage finance arena,” said Caroline Basile, HousingWire’s Online Editor and member of the selection committee. “I’m impressed by the achievements of this year’s winners and look forward to seeing what each of them accomplishes in the mortgage and housing finance economy in the future.”
CIVIC FINANCIAL SERVICES is a private money lender, specializing in the financing of non-owner occupied investment properties. CIVIC was created by its parent companies, Wedgewood and HMC Assets LLC, to empower and serve investors who don’t fit traditional lending criteria. We are young, optimistic, energetic and changing the face of the hard money industry. We are backed by Wall Street and have the resources that support our commitment to work swiftly and tirelessly until your deal is done. We simplify and streamline the lending process through modern innovations, proactive communication, and hard work. At CIVIC you are not a number, you are a partner. Whether you’re an experienced investor or a first-time borrower, we are here to help you break through traditional lending barriers to unleash ever-increasing success. Wedgewood and HMC, two of the most respected names in residential real estate, provide CIVIC with unparalleled valuation expertise in the real estate vertical as well as access to low-cost capital. With these resources, CIVIC is able to keep all operations in-house so loans are managed more closely, quickly, and efficiently.
The high-energy culture and caliber of talent at HNWX attracted me to this platform and the more I dove into the organization and its mission, the more I found it extremely compelling.
RANCHO SANTA MARGARITA, Calif. (PRWEB)July 12, 2018
Elysian Capital Holdings, LLC, (ECH) announced today that its High Net Worth Exchange (HNWX), a private technology investment platform for High Net Worth investors, has named David W. Ford as its Chief Executive Officer.
As HNWX’s Chief Executive Officer, Ford will be responsible for the strategic oversight and management of the HNWX platform and specifically, the cultivation of relationships with prospective HNWX Investment Sponsors. His purview will include Business Development and Relations, Investment Sponsor Management, and the oversight of the HNWX Investment Advisory Board.
With an extensive background in both mutual funds and real estate investment, Ford plans to use his vast operational experience in building fast-growing companies to add to HNWX’s embedded institutional knowledge and capabilities.
“The high-energy culture and caliber of talent at HNWX attracted me to this platform and the more I dove into the organization and its mission, the more I found it extremely compelling,” said Ford. “My experience and skills are a great fit at this stage of HNWX’s evolution, and I look forward to applying them here.”
For over 30 years, Ford has been instrumental in the design, development, sales and marketing of Mutual Funds, Variable Annuities, Real Estate Private Placements, Non-Traded REITS and Real Estate-Based Interval Funds. Bridging the gap between mutual funds and real estate investments, Ford created the first interval fund investing solely in Real Estate Private Equity Funds.
“David is unique in his ability to translate vision and strategy into world-class execution, bringing together teams and ecosystems to drive results,” states John Harline, HNWX Founder and Platform Architect. “He is a champion of the HNWX culture and has an incredible ability to inspire, energize and connect with our partners, Investment Sponsors and colleagues. We are extremely pleased to have David on board.”
This strategic hire comes at a momentous time for HNWX having announced earlier this year that it intends to launch its technology-based Investment platform on August 1, 2018. Learn more about the High Net Worth Exchange at http://www.HNWXchange.com.
ABOUT ELYSIAN CAPITAL HOLDINGS, LLC
ELYSIAN CAPITAL HOLDINGS, LLC (ECH) oversees a diverse portfolio of synergistic businesses within the financial services and consultative industries. By partnering with growth-oriented, well-positioned companies, we effectively join SMART PEOPLE, with SMART CAPITAL, to ultimately create SMART BUSINESS. Our paradigm is based upon the essential connectivity of these unique components. When intelligent and accomplished individuals are matched with capital and scalable business plans which complement their expertise, the result is a meaningful pool of diversified, intellectual capital that can be shared across all business lines and reflects consistent aggregated revenue growth over time. Learn more about Elysian Capital Holdings at http://www.ElysianCapitalHoldings.com.
ABOUT THE HIGH NET WORTH EXCHANGE
The HIGH NET WORTH EXCHANGE (HNWX) is an exclusive, membership-only platform designed for the exchange of diverse and marquis investment opportunities. Through an innovative collaboration, the HNWX provides an ecosystem of services through HNWX Investment Sponsors that can be uniquely made available to HNWX Club Members prior to being available to institutions or the public.
“Tradier Brokerage’s innovative technology, combined with the ability to trade without paying any commissions, will help us achieve our goal of educating clients and giving them an edge,” said Fred Bryant, COO Simpler Trading
CHARLOTTE, N.C. (PRWEB)July 11, 2018
One of the nation’s largest platforms for interactive financial training and education, Simpler Trading, is pleased to announce its connectivity to Tradier Brokerage as a part of its overall mission to provide quality education and value to its trader community.
Simpler Trading provides investors with high-quality coaching and access to tools that support successful trade activity across stocks and equity options, as well as futures and Forex. With this agreement, Simpler Trading subscribers can now execute trades seamlessly through Tradier Brokerage, while also enjoying unlimited equity and options trades without paying per trade or per options contract commissions. That means there’s no limit on the number of trades, contracts or shares members can execute.
“Our team at Simpler Trading is passionate about providing great tools, education, and transparency for traders of all experience levels and learning styles,” said Fred Bryant, COO Simpler Trading. “Tradier Brokerage’s innovative technology, combined with the ability to trade without paying any commissions, will help us achieve our goal of educating clients and giving them an edge.”
“We welcome Simpler Trading to the Tradier ecosystem,” said Dan Raju, CEO of Tradier. “We believe that the seamless integration of our technology with Simpler Trading’s dedication to inspiring traders is an exciting development for the active community.”
If you wish to learn more, please contact email@example.com.
Tradier Brokerage customers can contact services at firstname.lastname@example.org.
NOTE: Tradier Brokerage will pass through any and all OCC, Regulatory and Exchange Fees to customer.
About Simpler Trading Inc.
Simpler Trading is the market leader in interactive financial trading education. Founded in 2010, the company has provided expert guidance and coaching to over 350,000 customers across the USA and globally. Simpler Trading’s veteran team combines over 200 years of market experience and provides in-depth knowledge and actionable, real-time ideas for trading across stocks and equity options as well as Futures and Forex.
About Tradier Brokerage Inc.
Tradier Brokerage, Inc. — a member FINRA and SIPC is an independent subsidiary of Tradier, Inc. The Brokerage API enables entrepreneurs, businesses, developers and active traders to solve their trading and brokerage challenges using independent content and tool providers of their choice — at simple and competitive prices.
About Tradier, Inc.
Tradier, Inc. is a cloud-based financial services provider and brokerage API company that offers a groundbreaking platform to serve Platform Providers, Advisors, Developers and Individual Investors. Tradier delivers an innovative set of fully hosted API’s, modules and “out of the box” tools that are leveraged by a growing list of providers seeking to create innovative trading and investing experiences.
The shift to outcomes-based consulting is belatedly infiltrating strategy, while at the same time the increasing convergence of company business models around more fluid assets.
NEW YORK (PRWEB)July 10, 2018
ALM Intelligence – Consulting division, previously known as Kennedy Consulting, has released its 2018 ratings of Business Strategy & Planning consulting providers. Six firms were identified as leaders in the consulting industry: Bain & Company, The Boston Consulting Group, Deloitte, goetzpartners, McKinsey & Company, and PwC.
“The shift to outcomes-based consulting is belatedly infiltrating strategy, while at the same time the increasing convergence of company business models around more fluid assets like data and customer experience is altering the nature of competitive advantage,” said Nathan Simon, Senior Director of Research at ALM Intelligence. “The old way combined these trends in a significant way, recasting of both the ‘what’ and ‘how’ of business strategy and planning consulting service delivery.”
Providers that attained challenger status include: A.T. Kearney, EY, KPMG, Marakon, and PA Consulting. Other firms that were rated include: Accenture, AlixPartners, BearingPoint, Booz Allen Hamilton, Capgemini, IBM, L.E.K. Consulting, North Highland, Oliver Wyman, PointB, Prophet, and Roland Berger.
ALM’s Vanguard research series assesses firms in terms of their relative ability to create impact for their clients. In addition to its overall rating assessments of consulting providers’ depth and breadth of capabilities and best-in-class provider designations, this series includes detailed capability evaluations for each covered provider as well as a qualitative analysis of their consulting organization, approach, and service delivery model.
ALM Intelligence, a division of ALM Media LLC, supports legal, consulting, and benefits decision-makers seeking guidance on critical business challenges. Our proprietary market reports and analysis, rating guides, prospecting tools, surveys, and rankings, inform and empower business leaders to meet business challenges with confidence. Please visit http://www.alm.com/intelligence for more information.
A new e-book is available now on Amazon. This short, easy read highlights a stock options trading service published by experienced trader Allan Harris, chief strategist and head writer for Blue Line Trading System. “Find Something That Works… Then Trade It: The Take The Profits and Run Stock Option Trading System” is available now.
Scottsdale, AZ, July 07, 2018 –(PR.com)– “Find Something That Works, Then Trade It: The Take The Profits and Run Stock Option Trading System”
AllanTrends LLC, DBA Blue Line Trading, today announces its release of a new book, authored by head writer and chief strategist Allan Harris. Allan left the practice of law more than 20 years ago to pursue his passion for trading stocks. After 4 decades of experiencing great success and multiple market crashes, Allan created a system using technical analysis, proprietary algorithms and trend-following strategies to make money in the stock market.
In 2010, a trading system was launched and made available to the public. Over the years, the system has gone through several iterations to become as simple and profitable as possible. Allan is not new to the media spotlight and was the publisher of the popular AllAllan blog for several years prior to launching AllanTrends LLC. This brought him notoriety not only as a popular stock picker and market timer, but also as a prolific observer of the human condition. His market analysis with an added philosophical perspective made him an internet sensation.
Mr. Harris publishes his newsletter from his office in Scottsdale, Arizona with the continued mission of helping individuals learn to become successful traders.
As a qualified custodian, we take our role as solutions provider very seriously.
SIOUX FALLS, S.D. (PRWEB)July 05, 2018
Kingdom Trust, the leading qualified custodian holding cryptocurrency investments, has announced it is accepting Zcash (ZEC) and Stellar Lumens (XLM) to its list of acceptable digital currency investments. Other digital assets held on the Kingdom Trust platform include Bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin Gold (BTG), Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC) and Ripple (XRP).
“Kingdom Trust is proud to now hold these two coins on our industry-leading platform,” says Kingdom Trust CEO, Matt Jennings. “As a qualified custodian, we take our role as solutions provider very seriously, and we are excited to add many more solutions like this in the near future.”
With over $12 billion in assets under custody and over 100,000 clients, Kingdom Trust leads the digital investing space. As more individual and institutional investors consider investing in alternatives like cryptocurrency, the firm fills an important gap by providing the transparency, security and trust needed to custody such assets.
Kingdom Trust allows its clients to hold digital assets in secured digital wallets by leaders in blockchain security, cold storage and multi-authenticator wallets. These wallets and cold storage devices ensure the privacy and security sought by taxable and non-taxable account holders.
About Kingdom Trust
Kingdom Trust is an independent qualified custodian under the Investment Advisers Act of 1940, as amended, and 26 USC 408. Kingdom Trust is registered and regulated in the state of South Dakota and does not provide, promote, endorse or sell investment products and does not endorse or promote any individual investment advisor or investment sponsor. For more information, please visit KingdomTrust.com.
Mercy Corps is helping displaced families in Syria
People are fleeing with whatever few items they can carry — or nothing at all.
AMMAN, Jordan (PRWEB)July 02, 2018
The global organization Mercy Corps is deeply concerned about the escalating humanitarian crisis unfolding in southern Syria, as civilians continue to flee the violence and are unable to access life-saving essentials.
“The number of people fleeing this latest offensive has more than tripled in the past few days,” says Arnaud Quemin, Mercy Corps Country Director for Syria. “People are fleeing with whatever few items they can carry — or nothing at all.”
The United Nations estimates there are now more than 160,000 displaced people in southern Syria. Vast numbers of civilians are moving towards the Israeli and Jordanian borders, which remain closed.
“With nowhere to go, tens of thousands of displaced people are stranded in open and unprotected areas,” says Quemin. “Our team members and partners are providing food, clean water and other essentials even while they themselves flee the fighting. Many do not foresee being able to return home anytime soon due to the insecurity.”
Mercy Corps and our local partners are prepared to meet the needs of more than 50,000 people in southern Syria with emergency programming, including water, hygiene kits, and basic food rations. In the past year, Mercy Corps met the urgent needs of 950,000 people in Syria by distributing emergency food and supplies, increasing access to clean water and sanitation, and creating safe spaces and activities to help children heal from trauma.
Join us and support Mercy Corps’ work in Syria and elsewhere in the world.
California State University, Dominguez Hills (CSUDH) has received a $1.725 million legacy gift from Professor Emeritus of Political Science Lyman Chaffee, who passed away April 27, 2018. The bequest will be used to establish the L.G. Chaffee Endowed Chair of Global and Comparative Politics, the first endowed chair position in the university’s history.
Chaffee’s gift, the largest given to CSUDH by a faculty member, also specifies $100,000 to endow a scholarship for political science majors to study abroad; a $25,000 contribution to the Del Amo Scholarship that provides students scholarships to study in Spain; and $100,000 to CSUDH’s Office of International Education toward its general endowment for scholarships for students studying abroad.
“In my years as president, what has stood out to me most about this campus is its strong sense of community. This gift is a testament to that dedication, to the commitment our faculty and staff have to our mission and the students we serve, and is a selfless expression of what it means to be a Toro,” said CSUDH President Willie J. Hagan. “Many of our alumni can attest to the zeal and passion Dr. Chaffee displayed each day, as will many of our students value his kindness and generosity for years to come.”
Chaffee, a resident of Hermosa Beach, joined the CSUDH 1969 and retired in 2005. During his more than 30 years as a member of the Department of Political Science,
Chaffee served as department chair for several years and was honored with the university’s Outstanding Professor Award for his commitment to students. He was highly respected among his colleagues and university administration throughout his tenure.
Chaffee was an expert in international politics with a particular focus on South America, Spain, and Portugal. His deep interest in learning about and experiencing other cultures inspired him to travel extensively throughout his life and visit more than 70 countries. He regularly shared his love of travel with his students. For a number of years, Chaffee served as director of CSUDH’s International Programs and as resident director of the CSU International Programs study abroad option for Spain.
“When he was young, Lyman spent a year in Spain that had a real impact on him. It introduced him to the many benefits of international relations and travel and how important it is for students to experience it, particularly those interested in politics,” said Marta Stang, Chaffee’s sister. “That first trip to Spain continued to influence him and led to his conviction that student travel not only broadens a person’s understanding of the world, but also the issues faced by different countries and their cultures. This resulted in his endowment of a chair in the Political Science Program, as well as funds for students to study abroad.”
About California State University, Dominguez Hills
California State University, Dominguez Hills, centrally located in the greater Los Angeles South Bay region, is a model urban university with a wide range of academic programming, providing accessible, high quality, and transformative education to students aspiring to succeed and thrive in a complex, global society. Since 1960, CSU Dominguez Hills has served a diverse community of learners and educators collaborating to change lives and communities for the better. A national model and laboratory for student success, the university offers a proven path to opportunity and social equity, advancing a college-focused culture in the communities it serves while providing vital resources of knowledge, talent, and leadership to the greater Los Angeles region and beyond. Today, CSU Dominguez Hills boasts over 100,000 alumni – doctors, scientists, engineers, educators, entrepreneurs – who are leaders in education, health, technology, entertainment, public service, and business, making a difference in their fields, in people’s lives, and in their communities. For more information, visit http://www.csudh.edu.
“Despite aggressive competition in the marketplace, we are seeing strong results from our commercial team with steady growth in commercial core deposits and cash management income,” said Robert DeAlmeida President and CEO.
TOWSON, Md. (PRWEB)June 29, 2018
Hamilton Bancorp, Inc. (the “Company”) (NASDAQ: HBK), the parent company of Hamilton Bank (the “Bank”), today announced its operating results for the fiscal year and three-month period ended March 31, 2018, reflecting contributions from both organic and purchased loan growth and improving efficiencies. Financial highlights include the following:
Fiscal Year Highlights Ended March 31, 2018 vs. 2017:
Hamilton Bancorp, Inc. (the “Company”) (NASDAQ: HBK), the parent company of Hamilton Bank (the “Bank”), today announced its operating results for the fiscal year and three-month period ended March 31, 2018, reflecting contributions from both organic and purchased loan growth and improving efficiencies. Financial highlights include the following:
Fiscal Year Highlights Ended March 31, 2018 vs. 2017
Pre-tax income improved to $2.0 million compared to a loss of $1.7 million for the 2017 fiscal year, an increase of $3.7 million year-over-year.
After-tax loss for fiscal 2018 is $6.0 million, or $1.90 per common share, compared to a loss of $929 thousand, or $0.29 per common share, for fiscal 2017. The loss in fiscal 2018 is due to the establishment of a $5.8 million valuation allowance on the Company’s net deferred tax assets and a $2.3 million tax adjustment to the Company’s net deferred tax assets as the result of the revaluation needed due to the Tax Cuts and Job Act (“Tax Act”) tax reform passed by the federal government in December 2017.
Net interest income increased to $14.5 million, up $602 thousand, or 4.3 percent, from $13.9 million. This improvement was driven by a $1.3 million, or 7.9 percent, increase in interest revenue, partially offset by a $716 thousand increase in interest expense.
Net interest margin remained relatively unchanged at 3.05 percent for fiscal 2018 compared to 3.04 percent for fiscal 2017.
Efficiency ratio (as defined in the attached table) improved from 88.6 percent to 78.3 percent due to efficiencies of scale and higher revenues, income relating to bank-owned life insurance (BOLI), and the effects of certain costs related to the acquisition of Fraternity Community Bancorp, Inc. (Fraternity) during the prior year period.
In the fourth quarter of fiscal 2018, realized $835 thousand in non-interest revenue pertaining to death benefits received under our Bank Owned Life Insurance (BOLI) insurance policies.
Cash management fees increased by 49 percent during fiscal 2018 from $84 thousand to $125 thousand. At the same time our merchant card services income also grew 31 percent to $33 thousand. This reflects our continued focus on commercial business.
Total assets grew $11.0 million to $525.5 million, increasing from $514.5 million at March 31, 2017.
Gross loans grew $50.2 million, or 14.8 percent, to $389.2 million from $339.0 million at March 31, 2017. The growth in loans is attributable to both organic growth and loan purchases.
The allowance for loan losses as a percentage of nonperforming loans declined from 94.5 percent at March 31, 2017 to 39.4 percent due to one commercial real estate loan being placed on nonaccrual during the year. Based upon an updated appraisal and market value of the underlying collateral, there is no impairment currently associated with this loan.
Net charge-offs declined 67.3 percent, or almost $2.0 million, from $2.9 million a year ago to $948 thousand in fiscal 2018.
Total deposits decreased $7.7 million from $412.9 million at March 31, 2017 to $405.1 million, while borrowings increased $24.5 million from $36.1 million to $60.7 million over the same period. Core deposits (consisting of all deposits except certificates of deposits) declined $6.7 million to $157.7 million. The decline in deposits is largely due to runoff from our money market promotion that began in December 2016, as well as an increasingly competitive market due to rising interest rates. Core deposits represent 38.9 percent of total deposits at March 31, 2018 compared to 39.8 percent a year ago.
Quarterly Highlights – Quarter Ended March 31, 2018 vs. March 31, 2017:
Pre-tax income improved to $463 thousand compared to a pre-tax loss of $1.7 million for the quarter ending March 31, 2017, an increase of $2.1 million quarter-over-quarter.
After-tax loss for quarter ended March 31, 2018 is $4.9 million compared to a loss of $976 thousand for the same quarter a year ago. The loss in the fiscal 2018 quarter is due to the establishment of a $5.8 million valuation allowance on the Company’s net deferred tax assets.
Net interest income remained relatively unchanged at $3.6 million for each of the comparative periods. Interest revenue increased $341 thousand to $4.7 million, while interest expense increased $322 thousand to $1.0 million.
Efficiency ratio (as defined in the attached table) improved from 82.2 percent to 69.4 percent due to $835 thousand in non- interest revenue realized because of death benefits received under our BOLI insurance policies.
Gross loans grew to $389.2 million during the quarter, up $1.4 million, compared to $387.8 million at December 31, 2017. Growth in loans was attributable to organic growth and loan purchases.
Net charge-offs for the quarter ended March 31, 2018 were $738 thousand compared to $2.2 million in the same quarter a year ago.
Provision for loans losses declined $1.4 million, or 59.7 percent, to $950 thousand compared to $2.4 million in provision for loan losses for the quarter ended March 31, 2017. The lower provision for the current quarter is due to fewer charge-offs.
Deposits during the quarter ended March 31, 2018 increased $12.5 million to $405.1 million, while borrowings decreased
$2.1 million. The growth in deposits was comprised of a $10.4 million increase in core deposits.
“Due to the establishment of a valuation allowance on our net deferred tax assets, an after-tax loss resulted for the fourth quarter and year-end. However, our fourth quarter results demonstrate progress in all areas including income from operations, loan growth, and strong core deposit growth,” said Robert DeAlmeida President and CEO. “Despite aggressive competition in the marketplace, we are seeing strong results from our commercial team with steady growth in commercial core deposits and cash management income.”
Total assets increased $11.0 million during the fiscal year to $525.5 million at March 31, 2018, compared to $514.5 million at March 31, 2017. The Bank continued to see growth within the loan portfolio over this period, offset by declines in cash and cash equivalents, investments, and deposits.
Cash and cash equivalents at March 31, 2018 is $23.4 million compared to $29.4 million at March 31, 2017. The decline is a result of cash that was redeployed to fund growth in higher returning loans during the year. In the last quarter of fiscal 2018, we were able to replenish and increase our cash position by $13.3 million through an increase in our core deposit base.
Investments declined $27.0 million from $102.4 million at March 31, 2017 to $75.4 million at March 31, 2018. The decline in investments is a result of $15.1 million in normal principal payments associated with the mortgage-backed security portfolio, as well as the sale of $11.6 million in securities. The sale of securities resulted in an overall loss of $2 thousand for fiscal 2018. The cash inflow from the investment activity described, along with increased borrowings, was used to fund organic loan growth and purchase various pools of residential mortgage, commercial business, and consumer loans throughout the year; thereby converting lower interest- earning investments into higher interest-earning loans.
Total gross loans grew $50.2 million, or 14.8 percent, to $389.2 million at March 31, 2018 from $339.0 million at March 31, 2017. This growth was largely due to organic loan growth and the purchase of several loan pools throughout the year. The pools consisted of residential mortgage, commercial business, and consumer loans that totaled approximately $54.0 million in the aggregate. Several purchases of loan pools have contributed to replacing run-off and contributing to the overall growth in our residential mortgage portfolio. At the same-time we have had strong organic growth within our commercial real estate and construction loan portfolios. The largest growth within our loan portfolio has been in consumer and commercial business loans. Consumer loans increased $16.4 million to $19.6 million at March 31, 2018 from $3.2 million at March 31, 2017, while commercial business loans increased $18.6 million, or 86.4 percent, to $40.1 million from $21.5 million over the same period.
Total deposits (excluding premiums on acquired deposits) decreased $7.3 million during fiscal 2018 to $404.7 million compared to $412.0 million at March 31, 2017. The Company continues to focus on generating lower cost, core deposits (which includes all deposits other than certificates of deposit) and maintaining maturing certificates of deposit to support continued loan growth. Core deposits at March 31, 2018 were $157.7 million compared to $164.4 million at March 31, 2017, a decrease of $6.7 million, or 4.0 percent. Core deposits represent 38.9 percent of total deposits at March 31, 2018 compared to 39.9 percent of deposits at March 31, 2017. The Bank is currently running deposit promotions to attract new customers in a competitive deposit market.
Borrowings in fiscal 2018 increased $24.5 million to $60.7 million compared to $36.1 million at March 31, 2017. The increase was primarily due to the use of borrowings to help fund loan growth during the year through the utilization of Federal Home Loan Bank advances.
Asset quality continues to remain a core management objective. Net charge-offs to average loans was 0.26 percent for the fiscal year ended March 31, 2018, compared to 0.92 percent for fiscal 2017. The Company, during fiscal 2018, experienced net charge-offs totaling $948 thousand compared to $2.4 million in the prior year. Non-performing loans increased $4.8 million year-over-year to $7.2 million at March 31, 2018 from $2.3 million at March 31, 2017. The increase in non-performing loans is primarily due to one commercial real estate relationship with a book value of $3.2 million that was placed on nonaccrual in the second quarter and a group of residential investor loans totaling $600 thousand that were placed on nonaccrual at the end of the third quarter. Approximately
$262 thousand has been charged-off in relation to the residential investor loans, while there was no impairment associated with the commercial real estate loan based upon the most recent collateral value of the property. In addition, there is approximately $1.2 million in loans that are 90 days past due and accruing and classified as non-performing loans. These loans continue to pay and we are recognizing the income, however, they have reached their maturity and are in the process of being extended or renewed. Our credit department is diligently working to obtain the necessary information from the borrower that is needed to do so. As a result, the percentage of nonperforming loans to gross loans increased from 0.69 percent at March 31, 2017 to 1.84 percent at March 31, 2018 and the allowance for loan losses as a percentage of nonperforming loans declined from 94.5 percent to 39.4 percent, respectively.
Net loss for the fiscal year ended March 31, 2018 was $6.0 million, or $1.90 per common share, compared to net loss of $929 thousand, or $0.29 per common share for fiscal 2017. The loss in fiscal 2018 was a result of the increase in tax expense relating to two separate events. The first event dealt with the passage of the Tax Cuts and Job Act (the “Tax Act”) that the was signed into law on December 22, 2017. The Tax Act amends the Internal Revenue Code to reduce income tax rates and modify policies, credits, and deductions for individuals and businesses. For businesses, the Tax Act reduced the federal corporate income tax rate from a maximum 35 percent to a flat 21 percent tax rate. As a result, our net deferred tax assets of $7.5 million at that time, which were based upon a 34 percent corporate tax rate, had to be re-evaluated to reflect the new tax rate of 21 percent. This non-cash adjustment was $2.3 million and is recorded through income tax expense.
The second event occurred during our fourth quarter and included the establishment of a full valuation allowance on the remaining portion of our net deferred tax assets of $5.8 million. In accordance with Accounting Standards Codification (ASC) 740, Accounting for Income Taxes, the Company assessed whether the deferred tax assets are more likely than not to be realized based on an evaluative process that considers all available positive and negative evidence. The positive evidence that was most heavily relied upon, but the most subjective, was future taxable income exclusive of reversing temporary differences and carryforwards. The Company is in a three-year cumulative loss position which creates negative evidence and because this evidence is considered significant, management concluded that there was more negative evidence than positive evidence and therefore, it is more likely than not that the Company will be unable to generate sufficient taxable income in the foreseeable future to fully utilize the net deferred tax assets. If, in the future, the Company generates taxable income on a sustained basis sufficient to support the deferred tax assets, the need for a deferred tax valuation allowance could change, resulting in the reversal of all or a portion of the deferred tax asset valuation at that time. The establishment of a valuation allowance on our deferred tax assets for financial reporting purposes does not affect how the net operating loss carryforwards may be utilized on our subsequent income tax returns.
Pre-tax income for fiscal 2018, however, was $2.0 million compared to a loss of $1.7 million for fiscal 2017; a period-over-period increase of $3.7 million. This increase in pre-tax income was driven by an increase in interest income associated with growth in loans, a reduction in our provision for loan losses, increased noninterest revenue and lower operating expenses, partially offset by an increase in interest expense.
Net interest income for the year ended March 31, 2018 was $14.5 million, up $602 thousand compared to the year ended March 31, 2017, reflecting the continued growth in our loan portfolio from loan purchases and organic growth. The increase in net interest income reflected a $1.3 million, or 7.9 percent, increase in interest revenue as average loans grew 15.2 percent, or $47.9 million and average cash and cash equivalents declined $29.3. Over the fiscal year, we were able to move lower interest earning assets, specifically cash and cash equivalents, into higher interest-earning loans. Partially offsetting the increase in interest revenue was an increase in interest expense of $716 thousand, or 24.9 percent. Average interest-bearing liabilities increased by $11.7 million over this same period. The increase in average interest-bearing liabilities was due to a $22.4 million increase in higher costing average borrowings, partially offset by a $10.7 million decrease in lower costing average deposits. The increase in average borrowings was used to help fund the growth in the loan portfolio. Interest expense associated with deposits increased $237 thousand year-over-year despite a decrease in interest-bearing deposits due to rising interest rates and the re-pricing of the deposit portfolio. The net interest margin for fiscal 2018 remained relatively unchanged, increasing 1 basis point to 3.05 percent compared to 3.04 percent for fiscal 2017.
Non-interest revenue for the fiscal year ended March 31, 2018 was $2.0 million compared to $1.1 million for the fiscal year ended March 31, 2017. Non-interest revenue is higher compared to a year ago due to $835 thousand in revenue received during the fourth quarter related to proceeds from the pay-out of death benefits under our BOLI policies. The pay-out was related to the sudden and unexpected passing of an employee. In addition, we sold and relocated our Pigtown branch located in Baltimore City. We recognized a gain of $213 thousand on the sale of that branch, net of the disposal of various furniture and equipment associated with it. The Pigtown branch, along with our Ellicott City branch, were both relocated during the year within the same respective communities, but to a smaller, more efficient space that will provide operational cost savings. Partially offsetting the gain on Pigtown, was a loss of $115 thousand pertaining to the write-down or disposal of leasehold improvements associated with our legacy or former Cockeysville branch. During the 2018 fiscal year, a loss of $2 thousand was recognized on the sale of securities compared to a gain of $23 thousand a year ago. In addition, service charges increased $39 thousand, or 9.4 percent, year-over-year to $460 thousand, while other noninterest revenue of $123 thousand increased $16 thousand, or 14.6 percent, compared to a year ago. Other noninterest revenue includes the collection of certain loan fees, merchant card services and other smaller items. We continue to review and evaluate our retail fee structure.
Non-interest expense for fiscal 2018 was $12.9 million, down $326 thousand from $13.2 million in fiscal 2017 due in part to the $714 thousand in merger related and branch consolidation expenses associated with our acquisition of Fraternity in the prior year. When excluding this cost from the prior year, our operating expenses have increased due to costs associated with growing the loan portfolio and addressing other administrative matters, such as our charter conversion and branch relocations Despite these increases, we have been able to manage a growing loan portfolio from an operational cost basis and continue to increase our interest revenue. Our efficiency ratio has improved significantly from 88.6 percent for fiscal 2017 to 78.3 percent for fiscal 2018. This improvement is in large part due to the income realized in the current year with respect to the BOLI proceeds, along with the elimination of merger expenses incurred in the prior year.
From an operational standpoint, salary and benefit expenses for fiscal 2018 increased $512 thousand compared to fiscal 2017 because of strategic new hires focused on branch efficiency and new products, normal salary increases, bonuses that were not awarded in the prior year and the increased cost of health insurance. The Company also recognized higher legal expenses over this same period due to costs associated with certain loan purchases, a branch sale and relocation expenses, and other administrative matters, including our charter conversion. Foreclosed real estate expense increased $37 thousand in large part due to a $32 thousand write-down of one of our foreclosed real estate properties and deposit insurance premiums increased slightly because of the growth in overall assets. These increases were partially offset by decreases in other expenses largely composed of advertising, data processing expense, and professional services. The decline in professional services is the result of the expiration relating to one of two non-compete agreements entered with executives associated with the Fraternity acquisition. Management remains committed to reducing operational expenses and achieving higher efficiencies.
For the fourth quarter of fiscal 2018, the Company reported a net loss of $4.9 million, or $1.54 per common share compared to a loss of $976 thousand, or $0.31 per common share for the same quarter a year ago. The net loss is attributable to the establishment of a $5.8 million valuation allowance against the Company’s net deferred tax assets during the fourth quarter of fiscal 2018. As discussed earlier, the valuation allowance determination was based upon an evaluative process and the fact that the Company has been in a cumulative loss position for three consecutive years.
Pre-tax income, however, improved $2.1 million to pre-tax income of $463 thousand for the quarter ended March 31, 2018 compared to a pre-tax loss of $1.7 million for the quarter ended March 31, 2017. The improvement in pre-tax income quarter-over-quarter is due to a $1.4 million reduction in loan loss provision from $2.3 million for the quarter ended March 31, 2017 to $950 thousand for the quarter ended March 31, 2018. In addition, the Company realized $835 thousand in noninterest revenue in the fourth quarter of fiscal 2018 associated with death benefits paid-out on our BOLI policies due to the recent and unexpected passing of an employee. Net interest income over the comparable periods remained relatively the same at $3.6 million. Average interest-earning assets increased $26.1 million, partially offset by a $19.0 million increase in interest-bearing liabilities. The net interest margin decreased 16 basis points from 3.17 percent for the quarter ended March 31, 2017 to 3.01 percent for the quarter ended March 31, 2018 as the average yield on interest-bearing liabilities increased faster than rates on interest-earning assets. Operating expenses for the comparable quarters also remained relatively unchanged increasing from $3.1 million in the fourth quarter of fiscal 2017 to $3.2 million in the fourth quarter of fiscal 2018.
Shareholders’ equity at March 31, 2018 is $54.1 million compared to $59.8 million at March 31, 2017, a decrease of $5.7 million. The decrease is attributable to the net loss realized during fiscal year 2018. Also contributing to the decline in shareholder equity was the increase in unrealized losses associated with the investment portfolio, partially offset by the increase in additional paid in capital relating to equity awards. Average shareholders’ equity to average assets was 11.3 percent for fiscal 2018. This is down slightly from 11.8 percent a year ago due to an increase in average assets associated with growth within the loan portfolio from both organic loans and loan purchases. All the Bank’s regulatory capital ratios continue to exceed levels required to be categorized as “well capitalized.” Outstanding shares at March 31, 2018 were 3,407,613 compared to 3,411,075 at March 31, 2017.
Management believes that non-GAAP financial measures, including tangible book value, provide additional useful information that allows readers to evaluate the ongoing performance of the Company without regard to transactional activities. Non-GAAP financial measures should not be considered as an alternative to any measure of performance or financial condition as promulgated under GAAP, and investors should consider the Company’s performance and financial condition as reported under GAAP and all other relevant information when assessing the performance or financial condition of the Company. Non-GAAP financial measures have limitations as analytical tools, and investors should not consider them in isolation or as a substitute for analysis of the Company’s results or financial condition as reported under GAAP.
Please direct all media inquiries to Lauren Lawder at 410-616-1996 or by email at email@example.com. Please direct investor inquiries for Hamilton Bank to Robert DeAlmeida at 410-823-4510.
About Hamilton Bank:
Founded in 1915, Hamilton Bank is a community bank with $530.9 million in assets and $59.5 million in regulatory capital. The bank has 72 full-time equivalent employees and operates seven branch locations across Greater Baltimore, serving the communities of Cockeysville, Pasadena, Rosedale, Towson, Ellicott City and Baltimore in Maryland. Whether online or on the corner, Hamilton Bank is a community bank that cares about its customers. http://www.Hamilton-Bank.com.
Member FDIC Equal Housing Lender:
This press release may contain statements relating to the future results of the Company (including certain projections and business trends) that are considered “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995). Forward- looking statements include statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to historical or current facts. They often include words such as “believe,” “expect,” “anticipate,” “estimate,” and “intend” or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” Forward-looking statements, by their nature, are subject to risks and uncertainties. Certain factors that could cause actual results to differ materially from expected results include increased competitive pressures, changes in the interest rate environment, general economic conditions or conditions within the securities markets, legislative and regulatory changes that could adversely affect the business in which Hamilton Bancorp, Inc. and Hamilton Bank are engaged, and other factors that may be described in the Company’s annual report on Form 10-K and quarterly reports on Form 10-Q as filed with the Securities and Exchange Commission. The forward-looking statements are made as of the date of this release, and, except as may be required by applicable law or regulation, the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements.
William Chu, Managing Partner at SparkLabs FinTech, and Jay McCarthy, Partner at SparkLabs FinTech
“We are excited to be partnering with Ping An, and to be working with such a strong group of companies. The average capital raise for the ten companies prior to joining this first batch was US$3.2 million, and more importantly it’s a great group of founders,” stated William Chu.
Ping An Fin+Tech Accelerator powered by SparkLabs launched its first batch. The program is a collaboration between Ping An Group and SparkLabs Group (http://www.sparklabsgroup.com) under Futian District government’s full support. Ten companies were selected out of over 120 applicants from around the world with applicants ranging from seed stage to Series B companies.
Ping An has invested over US$7.5 billion in FinTech, healthcare, artificial intelligence industries in the past decade; developed over 200 projects in the following areas: financial service, transportation, accommodation and government service with AI capability. With the support of Ping An Group and Ping An Cloud ecosystem, Ping An Fin+Tech Accelerator is focused on finding and partnering with innovative finance plus technology companies from around the globe to drive the technology revolution.
“We are excited to be partnering with Ping An, and to be working with such a strong group of companies. The average capital raise for the ten companies prior to joining this first batch was US$3.2 million, and more importantly it’s a great group of founders. We designed the program for the innovative companies to fully leverage the resources from Ping An Group and SparkLabs right from the start, and we expect strong traction for every cohort,” stated William Chu, Managing Partner with SparkLabs FinTech.
The ten companies are as followed:
FXE is seizing the power of data made available through open banking, cloud accounting and other sources to enable “one-click” funding applications to banks, alternative lenders and specialist financing providers. Using a cloud-based automated decisioning platform that accesses live transactional data sources, FXE enables the digitalisation and automatic underwriting of funding applications – allowing funders’ to reduce their costs of customer acquisition by up to 70% and accelerating speed of serving small businesses.
Getting a complete and accurate view of a high net-worth individual’s whole wealth is a persistent challenge to the individuals and their wealth managers due to the sheer complexity of their assets diversely held in multiple private banks and beyond. Canopy is a platform that aggregates all assets and provides visualization, reporting, analysis and client communication.
Velotrade is an online marketplace where SMEs get funding by selling their invoices to investors who earn above market returns with attractive risk/return profiles. All invoices are insured by a leading internationalinsurance company and with the help of a number of partners we offer bank-grade security throughout the KYC and validation procedures.
HedgeSPA is a core investment platform built on artificial intelligence, big data, and cloud computing. It can help leading financial institutions automatically reinvest and adjust their balance sheets to minimize capital requirements and improve profits, as well as to better serve their institutional and high-net-worth clients by automating the most tedious aspects of asset selection and portfolio rebalancing.
Kangpe uses mobile phones, telemedicine and data science to make health insurance cheaper and easier to purchase for the over 900 millions Africans who do not have access to health insurance. Health insurance is estimated to be a $50 billion a year market in Africa. Kangpe is well positioned to capture a sizable share of this market as evidenced by its 50% month over month growth since their launch in January 2018.
UBiAi Technology is a leading automotive data and AI startup and national high-tech enterprise in China. They aim to utilize the connected car data to drive innovation in automotive finance and insurance business, and provide the best experience digital service to the automotive customer.
Gliding Eagle is a California-based technology company using blockchain and cloud based system to track each individual product item from the source to the end consumer around the world. They are using this system to ensure direct delivery of latest hepatitis and cancer drugs to Chinese hospitals.
vPhrase’s AI product, Phrazor, summarises data into a few bullet points which highlight the key insights people need for decision making. With Phrazor, customers don’t have to spend time analyzing numbers or interpreting dashboards, as they receive insights instantly and ready to use.
Shanghai-based insurtech transforming healthcare to be more consumer centric. At the core of the company mission is an independent mobile social platform that provides trusted, community-sourced ratings and recommendations on top-quality healthcare services. For insurers, The CareVoice brings mobile-based and data-driven SaaS solution that digitizes healthcare and insurance records to unleash value for insurance companies and their customers.
FonePay is Pakistan’s first payments super app, and is powered by a unique platform that brings together the largest combination of banks, online and offline merchants. This empowers users for their everyday payments needs straight from one app, and no matter who they bank with and where they shop. The FonePay QR based merchant network is currently the largest acceptance network in Pakistan, with over 70,000 merchants, and is servicing customers from fourteen banks.
About Ping An
As China’s first joint stock insurance company, Ping An Insurance (Group) Company of China, Ltd. (“Ping An”) strives to become a world-leading technology-powered personal financial services group. Today, it is an integrated, compact, multi-functional financial services group with services that include insurance, banking, and investment. As of 31 December, 2017, the Group had over 166 million retail customers. At the end of December 2017, the Group’s consolidated total assets reached RMB6.49 trillion, while equity attributable to share holders of the parent company stood at RMB 473,351 million. Ping An Life and Ping An Property & Casualty are both ranked as the second largest in China, and Ping An Annuity is the top-ranked in China in their respective areas by premium income.
Its subsidiary Ping An Bank is China’s first joint stock bank. The Company’s key areas of business include investment, with subsidiaries such as Ping An Trust,Ping An Securities and Ping An Asset Management. Furthermore, Ping An strives to develop internet finance, including Lufax, Ping An Good Doctor, Ping An Haofang, E-Wallet, One Connect, Ping An Healthcare Management Services, Wanjia Healthcare. It has achieved significant growth in both the scale and user base of internet finance. As of 31 December, 2017, the number of internet users of the Company reached 436 million.
Ping An ranked 16th in Forbes’ 2017 Global 2000, and it ranked 39th in Fortune Magazine’s 2017 Global 500 Leading Companies. Ping An also ranked 61st in WPP Millward Brown’s BrandZTM Top 100 Most Valuable Global Brands.
SparkLabs accelerator network consists of SparkLabs Korea (Seoul), SparkLabs China (Beijing and launching Shanghai, Chengdu and Shenzhen), SparkLabs IoT & Smart Cities (Songdo, South Korea), SparkLabs Cultiv8 (AgTech, FoodTech & Sustainability in Orange, Australia), SparkLabs Taipei and SparkLabs FinTech (Shenzhen, Hong Kong).
[A]sk your advisor, exchange, or security provider if they utilize the services of an unrelated qualified custodian to safekeep your assets.
SIOUX FALLS, S.D. (PRWEB)June 29, 2018
A leader in alternative asset investing and institutional custody services, Kingdom Trust recently released a new white paper on qualified custody of digital assets. Known for their flexible and creative solutions to the needs of their clients, this white paper illustrates Kingdom Trust’s status as pioneer of digital asset custody.
Written by Kingdom Trust CEO, Matt Jennings, the new white paper clarifies the concept of “qualified custody” and outlines why the cryptocurrency marketplace benefits from the inclusion of qualified custodians like Kingdom Trust.
The educational piece releases at a time when more and more individual and institutional investors consider Bitcoin, Ethereum and other digital assets for their portfolios. Kingdom Trust allows its clients to hold digital assets in secured digital wallets by leaders in blockchain security, cold storage and multi-signature wallets. These wallets and cold storage devices ensure the privacy and security sought by taxable and non-taxable account holders.
“If you hold a significant amount of digital assets or are an investor in a fund or product that does, you should ask your advisor, exchange, or security provider if they utilize the services of an unrelated qualified custodian to safekeep your assets,” says Jennings. “If not, you may want to do further research and consider other alternatives.”
Jennings insists that more transparency, security, and trust should be added to the overall cryptocurrency marketplace. Kingdom Trust believes that the use of qualified custodians brings strength and trust to the digital asset market, helping it to expand into larger institutional growth and enabling the successful release of many new and exciting products.
Kingdom Trust is an independent qualified custodian under the Investment Advisers Act of 1940, as amended, and 26 USC 408. Kingdom Trust is registered and regulated in the state of South Dakota and does not provide, promote, endorse or sell investment products and does not endorse or promote any individual investment advisor or investment sponsor. For more information, please visit KingdomTrust.com.
The content of this press release is provided for educational and informational purposes only.
The new site will include the same remarkable features, advanced trading tools and cutting-edge trading platforms that have contributed to the former site’s popularity. It will also maintain the same regulations, since it is the new trading name of iCFD Ltd., which is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license # 143/11.
Like other brands in the iFOREX Group, Vestle will offer CFD trading on hundreds of instruments from numerous markets – shares, commodities, indices, currencies, ETFs and Bitcoin. Clients can trade via PC, smartphone or tablet, have access to a free app and enjoy excellent trading conditions.
The Vestle site adheres to the strictest regulatory requirements and maintains a Negative Balance Protection policy, ensuring that clients’ accounts can never go into minus. It will offer leveraged trading, when permitted by local regulations and will promote education and knowledge as a means of encouraging active investing. The site will feature market information and updates.
Vestle clients will receive access to a wide variety of educational resources, all aimed to assist them in expanding their knowledge of trading and the financial markets. All new Vestle clients will be able to benefit from 1-on-1 training with a trading coach, who will answer their specific questions and offer them information regarding the market, available trading tools and both desktop and mobile trading platforms.
In recent years, it has become increasingly challenging for online traders to speak with an actual person. Vestle was created with the understanding that technological solutions must always be accompanied by personal customer service from a person. No robot can fully substitute for attentive, trained human support.
The new site will become active during July 2018, in two stages. On July 1st, Vestle will replace the iFOREX brand name in Netherlands, Germany, Greece and English-speaking markets. On July 15th, it will replace the iFOREX brand name in Spain, Poland, Italy and France. Once the change takes place, the former iFOREX.eu site will no longer be available.
The iFOREX Group has over 22 years of experience and it operates several brands in multiple markets and over 20 languages. The Group has built its reputation on its unwavering commitment to reliability, integrity, transparency and excellent customer support. Over more than two decades, the iFOREX Group has become a true industry leader. It works diligently to protect its clients’ security and privacy and
The Trepp CMBS Delinquency Rate fell again in June, marking the eleventh time it has dropped in the last 12 months. The overall delinquency rate for US commercial real estate loans in CMBS shed 17 basis points to 3.95% in June. After reaching its lowest post-crisis level in May, the delinquency reading hit a new milestone by dropping below 4% for the first time since July 2009.
“For the second straight month, the delinquency rate hit a post-crisis low – a result of solid new CMBS issuance and a healthy pace of troubled assets meeting their resolution,” said Trepp Senior Managing Director, Manus Clancy. “In February, we predicted that the delinquency rate would hit a post-crisis low before the 4th of July. We now believe that a sub-3% rate is achievable before the ball drops to ring in the New Year.”
The CMBS 2.0+ delinquency rate moved one basis point higher to 0.49% in June. The rate of 2.0+ debt now seriously delinquent clocked in at 0.41%, which is up two basis points from May. Similar to CMBS 2.0+, the CMBS 1.0 delinquency reading increased marginally in June as it rose two basis points to 47.19%. The rate of seriously delinquent CMBS 1.0 debt fell four basis points month over month to 47.09%.
June’s largest month-over-month rate drop among major property types was observed in the lodging sector as it rate shed 60 basis points to 2.32%. Although the multifamily sector still boasts the lowest delinquency rate of the major property sectors, the lodging reading is not far behind. The office rate fell 36 basis points to 4.66% last month. Retail delinquencies increased six basis points to 5.78% in June.
Trepp, LLC, founded in 1979, is the leading provider of information, analytics and technology to the CMBS, commercial real estate and banking markets. Trepp provides primary and secondary market participants with the web-based tools and insight they need to increase their operational efficiencies, information transparency and investment performance. From its offices in New York, San Francisco and London, Trepp serves its clients with products and services to support trading, research, risk management, surveillance and portfolio management. Trepp is wholly-owned by Daily Mail and General Trust (DMGT). For more information, visit http://www.Trepp.com.
PaperTradeContest.us is now offering cash prizes to newly registered members for participating in an online stock trading competition.
Palo Alto, CA, June 27, 2018 –(PR.com)– Paper Trade Contest (PTC) is now offering a one time $500 cash prize for the member who stays on the top 1 position in the stock trading competition. Second and third position prizes will be $200, $100 respectively. The contest is for a one month period between July 25th to Aug 25th, 2018.
PTC offers a brand new online platform for the stock trading/investing market space, and will greatly improve the trading experience and efficiency for the broader investor community.
Anyone who has an email address is eligible to register and join the competition. Newly registered members (after June 25th, 2018) will get a 3 month free premium membership, which is required for the cash prize. PTC provides a user friendly online trading platform, enables members to spend very little time and effort to join the competition. The account value will be automatically calculated and show up in the competition, without any additional work/efforts from members. Register and join the competition today at papertradecontest.us.
Paper Trade Contest (PTC) is a state of the art online personal customized stock investing/accounting tool, with a built-in stock trading contest platform. Go to papertradecontest.us for contact, registration, and more information. Registering requires only a valid email address. After registration, the account will be available immediately to use.