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TUCSON, Ariz., May 7, 2021 /PRNewswire/ CBOA Financial, Inc. (OTCMKTS:CBOF) (the Company ), parent company of Commerce Bank of Arizona (the Bank or CBAZ ), announced that consolidated after tax net income for quarter ending March 31, 2021 increased 46% to $543,000, from $371,000 year-over-year.
Chris Webster, Bank President and Chief Executive Officer commented, Our year over year performance validates our current operating strategy; successful pursuit of quality loan opportunities combined with disciplined loan pricing. We also continue to steadily decrease the bank s nonperforming assets which is critical in the current environment. On top of this strong performance, our lending staff processed another $27 million of Paycheck Protection Program (PPP) loans, providing much needed support to Arizona businesses.
91.8 Our first quarter results reflect lower plant production volumes due to severe winter storms in the Gulf Coast region as well as scheduled maintenance at Shreveport. Our full plant turnaround was on track for successful completion as Uri visited North West Louisiana, presenting the challenge of a hard freeze on an entirely idled plant. Our team worked tirelessly to repair the damage and bring the plant back up safely. Demand for our products remains extremely robust and our margin performance reflected that, said CEO Steve Mawer. We also completed the change in our business segment reporting in order to improve transparency and provide insight into the value drivers of our business.
SEC Approves Registration Of First Security-Based Swap Data Repository; Sets The First Compliance Date For Regulation SBSR Date
07/05/2021
The Securities and Exchange Commission today announced that it has approved the registration of its first security-based swap data repository (SDR). With today’s registration of DTCC Data Repository (U.S.), LLC (DDR), the security-based swap market now has the first SDR that can accept transaction reports. DDR intends to operate as a registered SDR for security-based swap transactions in the equity, credit, and interest rate derivatives asset classes. Implementing Regulation SBSR fulfills an important mandate under the Dodd-Frank Act, said SEC Chair Gary Gensler. A centralized database of security-based swap transactions is an essential reform to better understanding these markets, for surveillance and for enforcement. The data repository also will facilitate public reporting of security-based swap transactions, bringing much-needed
[author: Vera Cherepanova, Studio Etica]
As economies start to reemerge from COVID crisis mode, environmental, social, and corporate governance (ESG) factors are rising in importance. A global survey conducted by NAVEX Global shows that 67 percent of respondents in the US said their companies would increase focus on ESG factors in 2021.
The current US administration has given significant attention to the ESG-related issues so far. In light of this, the SEC is likely to renew its focus on climate change, its conflict minerals rule, and responsible sourcing in the coming months. Along with the recent implementation of the EU Conflict Minerals Regulation, the signs are that businesses should stay tuned for further developments.
Fri, May 7th 2021 10:45am
Mike Masnick
I remember when Wired was the key magazine for understanding the potential of innovation. I subscribed all the way back in 1993 (not the first issue, but soon afterward, after a friend gave me a copy of their launch issue). Over the years, the magazine has gone through many changes, but I m surprised at how much its outlook has changed. The latest example is a big cover story by reporter Gilad Edelman, basically arguing that people who support Section 230 are wrong and holding the law up as a false idol. The piece is behind a paywall, because of course it is.