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Horizon Bancorp announces balance sheet restructuring transaction

Wednesday, 30 Nov 2016 04:45pm EST

Horizon Bancorp : Horizon Bancorp announces balance sheet restructuring transaction . Transactions include prepaying $106 million of high fixed-rate borrowings with contractual maturities ranging from June 2017 to Sept 2020 . Debt prepayment was funded from sale of available-for-sale investment securities of $168.0 million . Company realized a loss of $4.8 million from early redemption of debt .Loss was partially offset by an expected net gain on sale of investment securities of $966,000.

ANZ Banking Group advises of additional FY16 specified charges

Thursday, 27 Oct 2016 06:12pm EDT

Australia And New Zealand Banking Group Ltd : Anz advises of additional fy16 specified charges . total specified items in second half will be $360m . "group will outline use of this charge in more detail in fy16 results materials" . a $168 million charge (net of tax) will be recorded as a reduction to institutional markets revenue .anz will be recording a further $100 million in restructuring charges to support evolution of group's strategy.

BRIEF-Comerica to complete two-thirds of job cut target by 2016

Tuesday, 18 Oct 2016 09:31am EDT

Corrects headline to say "to complete two-thirds of job cut target by 2016" not "to reduce two-thirds of its workforce by 2016".thirds of job cut target by 2016" not "to reduce two-thirds of its workforce by 2016") Oct 18 (Reuters) - Comerica Inc : Comerica reports third quarter 2016 net income of $149 million . Says approximately two-thirds of workforce reduction target will be completed by year-end 2016 . Q3 earnings per share $0.84 . Q3 earnings per share view $0.74 -- Thomson Reuters I/B/E/S . Comerica Inc - $40 million in additional savings identified . Comerica Inc - quarter-end common equity tier 1 capital ratio 10.68 percent versus. 10.58 percent . Now expecting to drive at least $270 million in additional pre-tax income for full-year 2018 . Gear up initiative now includes expected pre-tax benefits of approximately $180 million in full-year 2017 . Qtrly net interest income $ 450 million versus $ 422 million . Comerica - expense reduction targets increased to approximately $150 million for full-year 2017, which increases to about $200 million for full-year 2018 . Comerica Inc qtrly provision for credit losses $16 million versus $26 million . Comerica - additional initiatives include new retirement program that will replace current pension plan and retirement account plan for most employees effective Jan 1. . Comerica Inc - total expected pre-tax restructuring charges of $140 million to $160 million to be incurred through 2018 are unchanged . Net interest income increased $5 million to $450 million in Q3 2016, compared to Q2 2016.

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