Central Pacific Financial Corp. Reports Fourth Quarter 2020 Quarterly And Annual Results
- Net income of $12.2 million, or $0.43 per diluted share for the fourth quarter, compared to net income of $6.9 million, or $0.24 per diluted share for the third quarter. Net income for the year was $37.3 million, or $1.32 per diluted share, compared to net income of $58.3 million, or $2.03 per diluted share in the previous year.
- The fourth quarter included nonrecurring expenses totaling $5.9 million primarily related to employee incentives and benefits, branch consolidation and other settlements.
- Allowance for credit losses to total loans ratio of 1.68% (or 1.83% excluding Paycheck Protection Program ( PPP ) loans) at December 31, 2020, compared to 1.60% (or 1.79% excluding PPP loans) at September 30, 2020.
LIBOR â Are You Ready For Life Without LIBOR from end-2021? - Speech By Edwin Schooling Latter, Director Markets And Wholesale Policy At The FCA, Delivered At City & Financial s Managing LIBOR Transition Event On 26 January 2021 Date
Location: City & Financial s Managing LIBOR transition event
Delivered on: 26 January 2021
Highlights:
85% of uncleared UK derivatives market ready for the end of LIBOR as 12,500 firms sign the ISDA protocol
IBA consultation on proposed end-dates for LIBOR has now closed, opening the way to determining and announcing the future path for all 5 LIBOR currencies simultaneously
users of LIBOR should press ahead with transition plans – in their new business and their legacy LIBOR books
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BETHESDA, Md., Jan. 25, 2021 /PRNewswire/ AGNC Investment Corp. ( AGNC or the Company ) (Nasdaq: AGNC) today announced financial results for the quarter ended December 31, 2020.
FOURTH QUARTER 2020 FINANCIAL HIGHLIGHTS
$1.16 comprehensive income per common share, comprised of:
$1.37 net income per common share
$(0.21) other comprehensive loss ( OCI ) per common share on investments marked-to-market through OCI
$0.75 net spread and dollar roll income per common share, excluding estimated catch-up premium amortization cost
1
Includes $0.32 per common share of dollar roll income associated with the Company s $33.8 billion average net long position in forward purchases and sales of Agency mortgage-backed securities ( MBS ) in the to-be-announced ( TBA ) market
ICICI bank makes its first interbank-money market transaction linked with SOFR
Mumbai |
Updated on
January 21, 2021
ICICI Bank on Thursday said it has executed its first interbank-money market transaction linked with Secured Overnight Funding Rate (SOFR) through its Hong Kong branch.
This transaction is part of the bank’s Benchmark Transition Management plan to assess the preparedness towards a smooth transition to the new Alternative Reference Rates (ARRs), the Bank said in a statement.
SOFR has been identified as the replacement for USD (US Dollar) LIBOR (London Interbank Offered Rate).
Globally, there is a move to migrate from LIBOR to transactions linked to ARRs and it is expected that fresh transactions after December 2021 would not be referenced to LIBOR, the Bank said.
The group specifically revised six of its model disclosure documents for risk disclosure including floating rate notes, fixed-rate bonds, interest rate swaps, forward delivery bonds, tender offer bonds and variable rate demand obligations.