Hilltop Securities was formed through the combination of Southwest Securities and FirstSouthwest. The document provides an overview of Hilltop Securities' business lines and locations once the merger is complete in January 2016. Key details include that Hilltop Securities will have over 1,100 employees across 53 office locations in 17 states. It will provide capital markets, public finance, retail, clearing services, structured finance, and securities lending. Public finance is currently ranked #1 financial advisor by number of new issues.
Forum for Financial Institution Directors: How Do Directors Prepare for the W...Winston & Strawn LLP
This document summarizes a presentation given by attorneys from Winston & Strawn LLP on how directors can prepare for potential litigation and enforcement actions. It discusses the increased political pressure to pursue individuals, greater parallel enforcement between agencies, and expanded use of statutes like FIRREA to pursue civil charges against banks and individuals. It also covers developments in whistleblower programs at the SEC and DOJ that have increased incentives for whistleblowers and protections from retaliation. Directors are advised to understand this enforcement environment and benchmark their institution's practices.
Recent Trends and Legal Developments You Should consider in 2016: Part I – Me...Winston & Strawn LLP
Corporate Partners Oscar David, Richard Falek, Jim Junewicz, and Robert Rawn review important developments in 2015 and provide an overview of potential M&A trends in 2016.
The following topics are covered:
Overview of deal activity
Decline of disclosure only settlements – Trulia and other cases
Rising trend of antitrust enforcement in M&A deals
Increasing role of activists in driving deals
Rise of aiding and abetting liability for financial advisers
Fraud issues in mergers
Update on Increased use of rep & warranty insurance
Earnouts in M&A transactions
Capital raising activity is ever changing. Asset managers are looking for new ways to raise capital and push the boundaries as greater pressure is placed on traditional models.
The desire to increase hold periods, lower the cost of capital, alter and diversify investment strategies, and provide liquidity for investors has caused managers to reprioritize long-term business objectives. Indeed, permanent capital and other specialty finance structures, which were once considered non-conventional in the industry, have become a common discussion point for asset managers that are evaluating the strategy of their next fundraising effort.
Our panel will discuss the range of various permanent capital structures, including Permanent Capital Acquisition Partnerships (PCAPs), Real Estate Investment Trusts (REITs), Master Limited Partnerships (MLPs), YieldCos, Special Purpose Acquisition Companies (SPACs), Public Asset Managers, Business Development Companies (BDCs), Closed End Funds, Interval Funds, and Variable Annuity and Variable Life Funds. We will also discuss various issues associated with these products, including:
• Strategic comparison of structures;
• Market trends and investor base;
• Distribution requirements;
• Tax consequences; and
• Regulatory requirements.
The document is a 1Q17 institutional presentation that provides an overview of Pine including:
- History as a specialized corporate bank focused on credit and risk management products.
- Business lines of corporate credit, FICC (fixed income, currencies and commodities), and investment banking.
- Strong credit approval process and track record with clients.
- Strategic partnerships with DEG and PROPARCO that provide long-term funding.
- Commitment to corporate governance and social responsibility.
- Macroeconomic overview of Brazil including GDP growth, inflation and interest rates.
The document provides an overview of Pine bank including:
- Its history and profile focusing on corporate clients since 1997
- Business strategy centered around corporate credit, FICC, and capital markets
- Competitive advantages of specialized services, customized solutions, and agile response
- Strong corporate governance and risk management culture
Morgan Stanley reported full year net revenues of $28.0 billion and earnings per share of $2.37. However, the firm recognized $9.4 billion in mortgage-related writedowns in the fourth quarter, resulting in a net loss of $3.588 billion for the quarter. While most businesses had record results, fixed income sales and trading losses were over $7.9 billion due to the writedowns. Morgan Stanley further bolstered its capital position with a $5 billion investment from China Investment Corporation.
The document provides information from First Financial Bankshares' 2016 Annual Shareholder Meeting. It includes lists of executive management and their years of experience. It also provides information on the board of directors, independent auditors, financial performance in 2015 and the first quarter of 2016, and an acquisition of First Bank, N.A. in Conroe, Texas.
Nicola Wealth Specialty Series: The Business Owner's Path to TransitionCharis Whitbourne
An interactive half-day workshop designed specifically for business owners, their business partners, and their close advisors. This workshop focuses on the challenges and solutions faced during the business transition; whether you are preparing to sell your company or pass it to the next generation.
Featuring a panel of seasoned experts, we review a real-world business transition scenario, providing valuable discussion and insight around the complexities of transitions.
Forum for Financial Institution Directors: How Do Directors Prepare for the W...Winston & Strawn LLP
This document summarizes a presentation given by attorneys from Winston & Strawn LLP on how directors can prepare for potential litigation and enforcement actions. It discusses the increased political pressure to pursue individuals, greater parallel enforcement between agencies, and expanded use of statutes like FIRREA to pursue civil charges against banks and individuals. It also covers developments in whistleblower programs at the SEC and DOJ that have increased incentives for whistleblowers and protections from retaliation. Directors are advised to understand this enforcement environment and benchmark their institution's practices.
Recent Trends and Legal Developments You Should consider in 2016: Part I – Me...Winston & Strawn LLP
Corporate Partners Oscar David, Richard Falek, Jim Junewicz, and Robert Rawn review important developments in 2015 and provide an overview of potential M&A trends in 2016.
The following topics are covered:
Overview of deal activity
Decline of disclosure only settlements – Trulia and other cases
Rising trend of antitrust enforcement in M&A deals
Increasing role of activists in driving deals
Rise of aiding and abetting liability for financial advisers
Fraud issues in mergers
Update on Increased use of rep & warranty insurance
Earnouts in M&A transactions
Capital raising activity is ever changing. Asset managers are looking for new ways to raise capital and push the boundaries as greater pressure is placed on traditional models.
The desire to increase hold periods, lower the cost of capital, alter and diversify investment strategies, and provide liquidity for investors has caused managers to reprioritize long-term business objectives. Indeed, permanent capital and other specialty finance structures, which were once considered non-conventional in the industry, have become a common discussion point for asset managers that are evaluating the strategy of their next fundraising effort.
Our panel will discuss the range of various permanent capital structures, including Permanent Capital Acquisition Partnerships (PCAPs), Real Estate Investment Trusts (REITs), Master Limited Partnerships (MLPs), YieldCos, Special Purpose Acquisition Companies (SPACs), Public Asset Managers, Business Development Companies (BDCs), Closed End Funds, Interval Funds, and Variable Annuity and Variable Life Funds. We will also discuss various issues associated with these products, including:
• Strategic comparison of structures;
• Market trends and investor base;
• Distribution requirements;
• Tax consequences; and
• Regulatory requirements.
The document is a 1Q17 institutional presentation that provides an overview of Pine including:
- History as a specialized corporate bank focused on credit and risk management products.
- Business lines of corporate credit, FICC (fixed income, currencies and commodities), and investment banking.
- Strong credit approval process and track record with clients.
- Strategic partnerships with DEG and PROPARCO that provide long-term funding.
- Commitment to corporate governance and social responsibility.
- Macroeconomic overview of Brazil including GDP growth, inflation and interest rates.
The document provides an overview of Pine bank including:
- Its history and profile focusing on corporate clients since 1997
- Business strategy centered around corporate credit, FICC, and capital markets
- Competitive advantages of specialized services, customized solutions, and agile response
- Strong corporate governance and risk management culture
Morgan Stanley reported full year net revenues of $28.0 billion and earnings per share of $2.37. However, the firm recognized $9.4 billion in mortgage-related writedowns in the fourth quarter, resulting in a net loss of $3.588 billion for the quarter. While most businesses had record results, fixed income sales and trading losses were over $7.9 billion due to the writedowns. Morgan Stanley further bolstered its capital position with a $5 billion investment from China Investment Corporation.
The document provides information from First Financial Bankshares' 2016 Annual Shareholder Meeting. It includes lists of executive management and their years of experience. It also provides information on the board of directors, independent auditors, financial performance in 2015 and the first quarter of 2016, and an acquisition of First Bank, N.A. in Conroe, Texas.
Nicola Wealth Specialty Series: The Business Owner's Path to TransitionCharis Whitbourne
An interactive half-day workshop designed specifically for business owners, their business partners, and their close advisors. This workshop focuses on the challenges and solutions faced during the business transition; whether you are preparing to sell your company or pass it to the next generation.
Featuring a panel of seasoned experts, we review a real-world business transition scenario, providing valuable discussion and insight around the complexities of transitions.
Canadian Tax Insights: How High Net Worth Investors Should Navigate Today’s T...Nicola Wealth
In this webinar, Nicola Wealth CEO, John Nicola will address timely taxation topics to help you understand the developments in Canadian tax policy in relation to the taxation of homes, wealth, capital gains, and marginal tax rates. John will further prepare you to navigate the current tax environment by reviewing several tax planning options available to you and how these strategies integrate with overall portfolio design.
The document is an investment memorandum for the $100 million U.S. Real Estate Opportunity Fund focused on the western region. The Fund will acquire a portfolio of commercial real estate assets in major western cities, reposition them as a private REIT, and over 5 years either take the REIT public or sell the portfolio, targeting a 210% cash-on-cash return. Financial forecasts estimate acquiring $315 million in properties, growing the portfolio value to $458 million, for a 15.5% internal rate of return.
The document is a presentation from Pine Bank covering their 4th quarter 2016 results. It includes sections on the bank's profile and history, business strategy, competitive landscape, focus on clients, business lines including corporate credit, FICC (fixed income, currency and commodities), and Pine Investimentos. It also discusses the bank's strategic partnerships, corporate governance, social responsibility efforts, and an economic overview. Pine is a specialized corporate bank that provides financial solutions to large and mid-sized companies in Brazil, with a focus on long-term client relationships and customized products.
Banco Pine - Institutional Presentation 2Q12Banco Pine
This document provides an overview of PINE's history, business lines, and recent financial highlights. PINE has been in business since 1939 and focuses on providing financial solutions to large corporate clients in Brazil. It has four primary business lines: corporate credit, financial and commodity instruments, investment banking, and distribution. The document outlines PINE's ownership history and growth over time, with its corporate credit portfolio and shareholders' equity both increasing significantly in recent years.
This document provides an overview of Pine bank, including its history, business strategy, competitive landscape, ratings upgrades, and first quarter 2014 highlights and financial results. Some key points include:
- Pine has specialized in providing financial solutions for large corporate clients in Brazil since 1997 and operates in corporate credit, fixed income, currency and commodities (FICC), and capital markets/advisory.
- The bank focuses on long-term client relationships and product penetration while maintaining a diversified revenue stream across business lines.
- Ratings agencies have affirmed or upgraded Pine's ratings in recent years due to its consistent financial performance, asset quality, and capitalization.
- First quarter 2014 results showed growth in lending volume and funding while
Nicola Wealth Presents Share the Pie: The Art of Building a Winning CultureNicola Wealth
John Nicola, Chairman and CEO of Nicola Wealth, joined Vanessa Flockton, Senior Vice President Advisory Services at Nicola Wealth to explain the art of building a winning company culture through the Share the Pie business model.
Montello Real Estate Opportunity Fund Summary InfoMontello
The Montello Real Estate Opportunity Fund is advised by Montello Capital Advisors Limited (“Montello”), part of the Montello group, which is one of the leading real estate financiers in the UK.
How to transform a family business: insights from the trenches Browne & Mohan
The document discusses insights into transforming a family business. It begins by providing background on the prevalence of family businesses globally and in India. It then outlines some of the common challenges family businesses face, such as unclear roles and decision-making bottlenecks. The document recommends conducting an assessment of the family business' "maturity" to identify gaps. It suggests transformations on both the family side, such as establishing governance structures and succession planning, and the business side, like evaluating operations and investing in capabilities. The goal is to professionalize processes while preserving family identity.
Neuberger Berman Wealth Management is opening up greater investment opportunities in China. China's equity market is the second largest in the world at nearly $6 trillion and represents only 20% of the MSCI EM index, despite accounting for 37% of global GDP. The MSCI is expected to include China A-shares, allowing over $100 billion to flow into the Chinese market. Additionally, Chinese equities currently trade at 10 times forward earnings, representing a compelling valuation opportunity. Neuberger Berman's local presence in Hong Kong and Shanghai allows them unique insights into the Chinese market.
Neuberger Berman Wealth Management is opening up greater investment opportunities in China. China's equity market is the second largest in the world at nearly $6 trillion and represents only 20% of the MSCI EM index, despite accounting for 37% of global GDP. The MSCI EM index is expected to include China A-shares, allowing over $100 billion to gradually flow into the Chinese market from passive and active investors. Additionally, Chinese equities currently represent a compelling valuation opportunity, trading at their lowest price-to-earnings ratio in 10 years. Neuberger Berman's local presence in Hong Kong and Shanghai allows them unique insights into the Chinese market.
This document discusses opportunity zones and the tax incentives provided under the Opportunity Zone program. It provides an overview of what opportunity zones are, where they are located, and the key tax benefits for investors including deferral of capital gains taxes, partial exclusions of capital gains, and the ability to exclude capital gains accrued on opportunity zone investments held for over 10 years. It also discusses eligible opportunity zone investments, the structure of opportunity funds, and some examples of recent deals.
Bayport Management Limited provides credit, insurance, and transactional banking solutions to individuals and microbusinesses in emerging and frontier markets. It has a gross loan book of $863 million comprising loans to 557,000 borrowers across Africa and Latin America. It has established operations in 7 African countries and 2 Latin American countries since 2001. The company has demonstrated strong growth through organic expansion, greenfield launches, and acquisitions. It has a robust business model relying on payroll deductions and debit orders for repayments.
Banco Pine - Institutional Presentation 4Q12Banco Pine
PINE is a Brazilian bank specialized in providing financial solutions to wholesale clients. In 2012:
- Total credit risk grew 12.5% to R$7.948 billion while total funding grew 7.9% to R$6.544 billion.
- Shareholders' equity increased 20.2% to R$1.015 billion.
- Fee income grew 96.7% to R$120 million and net income grew 15.4% to R$187 million.
- Return on average equity was 17.9%, an increase of 70 basis points from 2011.
Morgan Stanley reported a 35% increase in earnings per share for the first quarter of 2004 compared to the first quarter of 2003. Net income for the quarter was $1.2 billion, up 35% from the prior year. Revenues were $6.2 billion for the quarter, a 14% increase from the first quarter of 2003, driven by strong performance in sales and trading businesses. The company saw record revenues and market share gains in investment banking during the quarter.
Pine is a Brazilian bank that specializes in providing financial solutions to large corporate clients. It has experienced steady growth since its founding in 1997 and focuses on establishing long-term client relationships. The bank operates through three primary business lines: corporate credit, fixed income currencies and commodities trading, and capital markets and financial advisory services. In recent years it has diversified its revenues, received several credit rating upgrades recognizing its strong financial position, and continued expanding its client base and range of financial products and services.
Harry and Sally Jones asked for help analyzing their financial situation. The document constructs their balance sheet and cash flow statement based on provided financial information. It calculates various financial ratios to assess their well-being. The analysis finds their variable expenses are high at $16,200 annually. It recommends they focus on paying down debts and increasing emergency savings, as they currently do not have enough set aside if one loses their job. Their debt and debt service ratios also exceed recommended levels.
The document summarizes a presentation given by Terrance Resnick on business succession and estate planning. It discusses how inefficient succession planning is a leading cause of family businesses failing between the first and second generation. It provides a checklist of issues that should be addressed in a business succession plan and highlights common mistakes made, such as relying solely on an "I love you will" that leaves everything to a spouse.
Genworth MI Canada Investor Presentation September 2014genworth_financial
This document provides an overview and summary of Genworth MI Canada Inc. It begins with forward-looking statements and an explanation of non-IFRS financial measures used. The summary then covers Genworth's business overview, solid financial performance in the first half of 2014, strategic priorities of prudently growing market position while managing risk, and key takeaways about Genworth's leading position and track record of profitability in the Canadian mortgage insurance market.
Dig imag unit 1 module 1 i understanding image editing conceptskateridrex
The document discusses image editing software. Adobe Photoshop is the main software used in the design industry for tasks like photo editing, color corrections, and creating montages. Additional software mentioned includes Pixlr, Aperture, Gimp, and Paintshop. Image editing software can be used to perform simple edits like adjusting colors or cropping photos, or more complex tasks like restoring old images.
Canadian Tax Insights: How High Net Worth Investors Should Navigate Today’s T...Nicola Wealth
In this webinar, Nicola Wealth CEO, John Nicola will address timely taxation topics to help you understand the developments in Canadian tax policy in relation to the taxation of homes, wealth, capital gains, and marginal tax rates. John will further prepare you to navigate the current tax environment by reviewing several tax planning options available to you and how these strategies integrate with overall portfolio design.
The document is an investment memorandum for the $100 million U.S. Real Estate Opportunity Fund focused on the western region. The Fund will acquire a portfolio of commercial real estate assets in major western cities, reposition them as a private REIT, and over 5 years either take the REIT public or sell the portfolio, targeting a 210% cash-on-cash return. Financial forecasts estimate acquiring $315 million in properties, growing the portfolio value to $458 million, for a 15.5% internal rate of return.
The document is a presentation from Pine Bank covering their 4th quarter 2016 results. It includes sections on the bank's profile and history, business strategy, competitive landscape, focus on clients, business lines including corporate credit, FICC (fixed income, currency and commodities), and Pine Investimentos. It also discusses the bank's strategic partnerships, corporate governance, social responsibility efforts, and an economic overview. Pine is a specialized corporate bank that provides financial solutions to large and mid-sized companies in Brazil, with a focus on long-term client relationships and customized products.
Banco Pine - Institutional Presentation 2Q12Banco Pine
This document provides an overview of PINE's history, business lines, and recent financial highlights. PINE has been in business since 1939 and focuses on providing financial solutions to large corporate clients in Brazil. It has four primary business lines: corporate credit, financial and commodity instruments, investment banking, and distribution. The document outlines PINE's ownership history and growth over time, with its corporate credit portfolio and shareholders' equity both increasing significantly in recent years.
This document provides an overview of Pine bank, including its history, business strategy, competitive landscape, ratings upgrades, and first quarter 2014 highlights and financial results. Some key points include:
- Pine has specialized in providing financial solutions for large corporate clients in Brazil since 1997 and operates in corporate credit, fixed income, currency and commodities (FICC), and capital markets/advisory.
- The bank focuses on long-term client relationships and product penetration while maintaining a diversified revenue stream across business lines.
- Ratings agencies have affirmed or upgraded Pine's ratings in recent years due to its consistent financial performance, asset quality, and capitalization.
- First quarter 2014 results showed growth in lending volume and funding while
Nicola Wealth Presents Share the Pie: The Art of Building a Winning CultureNicola Wealth
John Nicola, Chairman and CEO of Nicola Wealth, joined Vanessa Flockton, Senior Vice President Advisory Services at Nicola Wealth to explain the art of building a winning company culture through the Share the Pie business model.
Montello Real Estate Opportunity Fund Summary InfoMontello
The Montello Real Estate Opportunity Fund is advised by Montello Capital Advisors Limited (“Montello”), part of the Montello group, which is one of the leading real estate financiers in the UK.
How to transform a family business: insights from the trenches Browne & Mohan
The document discusses insights into transforming a family business. It begins by providing background on the prevalence of family businesses globally and in India. It then outlines some of the common challenges family businesses face, such as unclear roles and decision-making bottlenecks. The document recommends conducting an assessment of the family business' "maturity" to identify gaps. It suggests transformations on both the family side, such as establishing governance structures and succession planning, and the business side, like evaluating operations and investing in capabilities. The goal is to professionalize processes while preserving family identity.
Neuberger Berman Wealth Management is opening up greater investment opportunities in China. China's equity market is the second largest in the world at nearly $6 trillion and represents only 20% of the MSCI EM index, despite accounting for 37% of global GDP. The MSCI is expected to include China A-shares, allowing over $100 billion to flow into the Chinese market. Additionally, Chinese equities currently trade at 10 times forward earnings, representing a compelling valuation opportunity. Neuberger Berman's local presence in Hong Kong and Shanghai allows them unique insights into the Chinese market.
Neuberger Berman Wealth Management is opening up greater investment opportunities in China. China's equity market is the second largest in the world at nearly $6 trillion and represents only 20% of the MSCI EM index, despite accounting for 37% of global GDP. The MSCI EM index is expected to include China A-shares, allowing over $100 billion to gradually flow into the Chinese market from passive and active investors. Additionally, Chinese equities currently represent a compelling valuation opportunity, trading at their lowest price-to-earnings ratio in 10 years. Neuberger Berman's local presence in Hong Kong and Shanghai allows them unique insights into the Chinese market.
This document discusses opportunity zones and the tax incentives provided under the Opportunity Zone program. It provides an overview of what opportunity zones are, where they are located, and the key tax benefits for investors including deferral of capital gains taxes, partial exclusions of capital gains, and the ability to exclude capital gains accrued on opportunity zone investments held for over 10 years. It also discusses eligible opportunity zone investments, the structure of opportunity funds, and some examples of recent deals.
Bayport Management Limited provides credit, insurance, and transactional banking solutions to individuals and microbusinesses in emerging and frontier markets. It has a gross loan book of $863 million comprising loans to 557,000 borrowers across Africa and Latin America. It has established operations in 7 African countries and 2 Latin American countries since 2001. The company has demonstrated strong growth through organic expansion, greenfield launches, and acquisitions. It has a robust business model relying on payroll deductions and debit orders for repayments.
Banco Pine - Institutional Presentation 4Q12Banco Pine
PINE is a Brazilian bank specialized in providing financial solutions to wholesale clients. In 2012:
- Total credit risk grew 12.5% to R$7.948 billion while total funding grew 7.9% to R$6.544 billion.
- Shareholders' equity increased 20.2% to R$1.015 billion.
- Fee income grew 96.7% to R$120 million and net income grew 15.4% to R$187 million.
- Return on average equity was 17.9%, an increase of 70 basis points from 2011.
Morgan Stanley reported a 35% increase in earnings per share for the first quarter of 2004 compared to the first quarter of 2003. Net income for the quarter was $1.2 billion, up 35% from the prior year. Revenues were $6.2 billion for the quarter, a 14% increase from the first quarter of 2003, driven by strong performance in sales and trading businesses. The company saw record revenues and market share gains in investment banking during the quarter.
Pine is a Brazilian bank that specializes in providing financial solutions to large corporate clients. It has experienced steady growth since its founding in 1997 and focuses on establishing long-term client relationships. The bank operates through three primary business lines: corporate credit, fixed income currencies and commodities trading, and capital markets and financial advisory services. In recent years it has diversified its revenues, received several credit rating upgrades recognizing its strong financial position, and continued expanding its client base and range of financial products and services.
Harry and Sally Jones asked for help analyzing their financial situation. The document constructs their balance sheet and cash flow statement based on provided financial information. It calculates various financial ratios to assess their well-being. The analysis finds their variable expenses are high at $16,200 annually. It recommends they focus on paying down debts and increasing emergency savings, as they currently do not have enough set aside if one loses their job. Their debt and debt service ratios also exceed recommended levels.
The document summarizes a presentation given by Terrance Resnick on business succession and estate planning. It discusses how inefficient succession planning is a leading cause of family businesses failing between the first and second generation. It provides a checklist of issues that should be addressed in a business succession plan and highlights common mistakes made, such as relying solely on an "I love you will" that leaves everything to a spouse.
Genworth MI Canada Investor Presentation September 2014genworth_financial
This document provides an overview and summary of Genworth MI Canada Inc. It begins with forward-looking statements and an explanation of non-IFRS financial measures used. The summary then covers Genworth's business overview, solid financial performance in the first half of 2014, strategic priorities of prudently growing market position while managing risk, and key takeaways about Genworth's leading position and track record of profitability in the Canadian mortgage insurance market.
Dig imag unit 1 module 1 i understanding image editing conceptskateridrex
The document discusses image editing software. Adobe Photoshop is the main software used in the design industry for tasks like photo editing, color corrections, and creating montages. Additional software mentioned includes Pixlr, Aperture, Gimp, and Paintshop. Image editing software can be used to perform simple edits like adjusting colors or cropping photos, or more complex tasks like restoring old images.
The document is a prayer requesting God's help, healing, strength and comfort for a friend named Miguel who is suffering. It asks God to be with Miguel and work in his life according to His will. It acknowledges that while the nature of Miguel's suffering is not understood, faith and trust are placed in God's plan and mercy. The prayer seeks God's presence with Miguel and nourishment of his spirit during difficulty, and requests healing and glorification through the experience.
La Unión Europea ha propuesto un nuevo paquete de sanciones contra Rusia que incluye un embargo al petróleo. El embargo prohibiría la importación de petróleo ruso a la UE y también prohibiría a los buques europeos transportar petróleo ruso a otros países. Sin embargo, Hungría se opone firmemente al embargo al petróleo, argumentando que dependen en gran medida de las importaciones rusas y que les llevaría años dejar de depender del petróleo ruso.
El documento describe la importancia de la identificación de pacientes en el hospital para evitar confusiones y riesgos durante la atención médica. Se utilizan pulseras identificativas con datos personales y códigos de colores para identificar pacientes con riesgo de caídas, úlceras u otras lesiones. La correcta identificación del paciente es fundamental para su seguridad.
1. The document discusses potential design concepts and branding directions for an organization called RER. It analyzes competitors and provides 5 potential routes for RER's brand development, ranging from emphasizing competence to establishing personal dedication.
2. The first route is "Absolute Competence" and focuses on demonstrating technical skills through real estate development. The second route is "Competence You Trust" and aims to build emotional connections by emphasizing trustworthiness.
3. The third route is "Pride Impersonated" and promotes a sense of victory and achievement for both the organization and individuals. The fourth route is "Personal Dedication" and makes the brand identity a reflection of personal commitment.
This presentation looks at the processes used to transform phosphate rock into Monoammonium Phosphate (MAP) and Diammonium Phosphate (DAP) fertilizers.
Los músculos son órganos contráctiles formados por tejido muscular que modifican la posición de las partes del cuerpo al contraerse, generalmente en respuesta a estímulos nerviosos. Existen diferentes tipos de músculos clasificados por su ubicación, forma y si son lisos, estriados o cardíacos. Los músculos cumplen funciones importantes como el movimiento y el funcionamiento de órganos internos.
Sample Guide for Writing Website Development ProposalPatrick Ogbuitepu
The document provides a proposal for developing a website and mobile application for XYZ News Agency. It includes an overview of the system's core functions and features such as mobile responsive design, content modules, social media integration, and a content management system. It outlines the project objectives, scope, and execution methodology. Cost estimates are provided for the website and mobile app development, as well as optional ongoing support plans. The proposal also includes a project schedule, choice of technologies, examples of previous work, and contact details.
Detailed overview of First Data's IPO including its funding history, business operations, financial performance, public company comparables and relevant industry transactions
This document provides an overview of First Financial Bankshares, Inc. for the 4th quarter of 2015. It begins with a forward-looking statement noting that numbers are unaudited and certain statements could be considered forward-looking. It then provides information on who First Financial is, their recognitions, what makes them different through their regional structure, their markets in Texas, recent acquisitions and growth, management team, financial performance on assets, deposits, loans, and credit quality, and summaries of their bond and loan portfolios. The document aims to provide high-level context on First Financial for investors.
- The company reported strong second quarter 2015 results, with EPS growth and continued improvement in operating efficiency. Legacy loan and deposit growth exceeded expectations.
- The company completed its acquisitions of three banks and successfully converted their systems on schedule.
- Credit quality remained stable, with non-performing assets declining compared to prior periods. Energy loan balances decreased slightly but clients remained within borrowing bases.
Stifel is a premier financial services firm providing diverse services to individuals, public and private businesses, and institutions. It has a strong balance sheet with $2.5 billion in shareholders' equity and a low leverage ratio. Stifel offers global wealth management with $193 billion in client assets under management. It is also a leading investment bank for middle-market companies, having advised on over $369 billion in deals.
Stifel is a premier financial services firm providing diverse services to individuals, public and private businesses, and institutions. It has a strong balance sheet with $2.5 billion in shareholders' equity and a low leverage ratio. Stifel offers global wealth management with $193 billion in client assets under management. It is also a leading investment bank for middle-market companies, having advised on over $369 billion in deals.
An investment in TPCM $25,000 9% Convertible Note(s) offers:
Immediate income;
Conversion to common stock or return of your investment in two years;
Upside potential returns (on conversion) of 25% to 112.5% per year (see details toward the end of this presentation);
Likely 5 year Buyout or IPO exit strategy.
For Accredited Investors
This document provides an overview of First Financial Bankshares, Inc. for the third quarter of 2015. It discusses the company's size and geographic footprint, recent acquisitions including a bank in Conroe, Texas and a mortgage company, growth opportunities in Texas markets, executive leadership, and experienced regional CEOs and presidents. The summary highlights the company's $6.5 billion size, 13-region structure across growing Texas markets, recent acquisitions expanding its presence, and experienced leadership team.
Pyatt Broadmark Real Estate Fund I Presentation Oct 2015Alan Chu
This document provides an overview of the Pyatt Broadmark Real Estate Lending Fund I (PBRELF I). PBRELF I invests in short-term, first lien loans secured by real estate projects in the Pacific Northwest. The goal is to provide high-yield returns while minimizing risk. PBRELF I has $136.4 million in assets under management. It offers diversification, consistent performance, and monthly distributions to investors.
This document provides an overview of First Financial Bank's annual shareholder meeting in 2015. It includes information on senior management, regional CEOs and presidents, board of directors, auditors, and financial performance highlights for 2014 and the first quarter of 2015. Key details include 28 consecutive years of increased earnings, continued growth in assets, loans, and deposits, and sound capital ratios and credit quality. The acquisition of First Bank of Conroe and 4Trust Mortgage are also announced.
PE Fund Investor Presentation ver 7-6-2015Scott Cubberly
Equity Velocity Fund I is a $25 million private equity real estate fund focused on healthcare, retail, and mixed-use properties in secondary and tertiary markets. The fund will target value-add acquisition and development opportunities leveraging the sponsor's expertise, with a goal of 15% investor returns. Investments of $1-8 million will utilize debt financing at 70-75% loan-to-value. The fund is sponsored by Equity Inc., a full-service commercial real estate firm with a track record of successful development, leasing, and property management.
The document provides an overview of Bladex, the Latin American trade finance bank. Some key points:
- Bladex has over 35 years of success in providing trade finance solutions across Latin America. It is the first Latin American bank listed on the NYSE and to receive an investment grade credit rating.
- Bladex has a unique shareholder structure consisting of central banks from 23 Latin American countries, providing substantial support.
- The bank utilizes a conservative risk management framework and focuses on strategic sectors that drive economic growth in the region like oil and gas, agriculture and manufacturing.
- Moving forward, Bladex aims to capture growth opportunities by developing new businesses while strengthening its core trade finance business
This document provides an unaudited summary of financial results for First Financial Bankshares for the fourth quarter of 2018. It discusses the bank holding company's profile including its size, regional structure, and growth markets. It also recognizes the bank's performance and community involvement. The document outlines risks associated with forward-looking statements and provides details on recent acquisitions and expansion efforts.
This document provides an overview of First Financial Bankshares' financial performance for the 2nd quarter of 2015. It discusses the bank's acquisition of Conroe Bank and 4Trust Mortgage, highlights its operations in growing markets in Texas, and provides statistics on its loan portfolio, deposit growth, and other financial metrics. The document contains forward-looking statements and identifies risk factors that could affect actual future results.
This document provides an overview of HollyFrontier Corporation and Holly Energy Partners. Key points include:
- HollyFrontier is a pure play inland refining company with 443,000 barrels per day of crude capacity located near North American crude production.
- Its collaboration with Holly Energy Partners provides strategic growth opportunities in logistics and marketing operations.
- Both companies maintain investment grade credit ratings and have access to sizable credit facilities.
- HollyFrontier focuses on refining while Holly Energy Partners focuses on logistics and transportation. Their collaboration allows them to leverage complementary assets and operations.
Loop Capital Markets surpassed $1 trillion in municipal finance underwritings, a monumental milestone for the investment bank. Since its founding 18 years ago, Loop Capital has participated in over 2,500 transactions across 49 states and Puerto Rico. The firm has experienced substantial growth across all business units this year, with its public finance, corporate banking, trading, and transition management divisions all increasing significantly. Loop Capital's Chairman and CEO expects the firm to exceed all previous accomplishments over the next three years through continued growth and expansion into new business areas.
The document discusses changing dynamics in corporate liquidity and short-term funding markets over the next 18 months. It notes that bank regulation will likely constrain bank balance sheets and shift the supply of short-term funding. Demand for short-term assets is expected to remain strong given improving corporate balance sheets and liquidity regulations. Regulation will impact both the supply and demand dynamics in short-term markets.
This document provides an overview of First Financial Bankshares Inc. for the first quarter of 2017. It includes the following key points:
- First Financial is a $6.9 billion financial holding company headquartered in Abilene, Texas with 127 years of history and operations across 11 regions.
- The company has received several awards and recognitions for its financial education and community programs.
- It has a unique regional banking model with consolidated back-office operations but regional presidents running local operations.
- Recent acquisitions and growth have expanded the company's footprint in high-growth areas like the DFW and Houston regions.
- Executive management and regional leadership have extensive experience in the banking
The document provides an overview and analysis of the financial services sector. It discusses the industries that make up the sector, including banks, capital markets, and insurance. Key metrics like market capitalization and performance are presented. An analysis of the business cycle, Porter's 5 Forces, and supply and demand is given. Economic factors that influence the sector like interest rates, GDP, and unemployment are examined. Financial projections and the valuation of the sector relative to the S&P 500 are analyzed. The recommendation is to remain neutral given the sector's underperformance but lower relative valuation currently compared to its median.
The document provides an overview and analysis of the financial services sector. It discusses the industries that make up the sector, including banks, capital markets, and insurance. Key metrics like market capitalization and performance are presented. An analysis of the business cycle, Porter's 5 Forces, and supply and demand is given. Economic factors that influence the sector like interest rates, GDP, and unemployment are examined. Financial projections and the valuation of the sector relative to the S&P 500 are analyzed. The recommendation is to remain neutral given the sector's underperformance but lower relative valuations currently compared to historical averages.
This document provides an overview and summary of First Financial Bankshares' financial performance for the 2nd quarter of 2017. It discusses the company's growth in total assets, deposits, accounts, and loans over recent years. It also provides details on the bank's markets, expansion efforts, management team, and loan portfolio composition and quality. Specifically, it notes the bank has $6.9 billion in assets as of June 30, 2017, operates in Texas with 10 regions, and has experienced strong growth while maintaining solid asset quality.
2. 2
HilltopSecurities
Southwest Securities + FirstSouthwest = HilltopSecurities
Our firm represents the combination of two established and successful
broker-dealers – Southwest Securities and FirstSouthwest. Southwest
Securities adopted the HilltopSecurities name in October 2015 and we
are scheduled to fully integrate with FirstSouthwest under the
HilltopSecurities name in January 2016, pending regulatory approvals.
Primary business lines:
• Capital Markets
• Public Finance
• Retail
• Clearing Services
• Structured Finance
• Securities Lending
HilltopSecurities Office Locations
3. 3
HilltopSecurities – Once Merged
HilltopSecurities serves as a trusted advocate for our clients nationwide,
delivering a wide range of financial guidance, services and solutions to
individuals, businesses and communities.
• Wholly owned subsidiary of Hilltop Holdings Inc. (NYSE: HTH)
• Created through the combination of Southwest Securities Inc. and
First Southwest Company
• More than 100 years of combined industry experience
• Approximately 1,100 employees
• 53 office locations in 17 states
• Public Finance ranked #1 financial advisor in 2014 by number of new
issues*
• $14.9 billion in Retail assets under management
• $41 billion in Clearing Services client assets
• $20 billion in Municipal Cash Management assets under management
* Source: Ipreo MuniAnalytics
4. 4
HilltopSecurities – Overview Once Merged
• Main revenue generating business lines
include:
• Capital Markets: institutional sales and
trading of munis and taxable fixed income;
muni underwritings; portfolio trading
• Public Finance: generates financial advisory
and underwriting fees for debt issuances of
municipalities
• Retail: employed financial advisors in Pacific
and Gulf regions and independent advisors
nationwide as part of HilltopSecurites
Independent Network
• Clearing Services: provides transaction
clearing and ancillary services to
correspondents
• Structured Finance: includes TBA business,
which provides interest rate protection for
housing authorities
• Stock Loan: lends and borrows stock from
third parties
24%
26%
29%
Key Highlights 2014 1H 2015
Income Before Taxes ($000) 6,863 41,211
Compensation/Net Revenue (%) 59.4 73.3
FDIC Insured Balances at PCB ($M) $224 $675
Other FDIC Insured Balances ($M) $250 $1,080
Total FDIC Insured Balances ($M) $474 $1,754
Percentage of revenue for six months ended 6/30/15
Notes: 2014 data only includes results of FSW. YTD 2015 results include FSW and SWS, as
well as bargain purchase gain and integration charges related to SWS transaction
Notes: Percentage of revenue for six months ended 6/30/15 includes FSW and SWS, but does
not include bargain purchase gain
Public
Finance,
24%
Capital
Markets,
21%Retail, 29%
Structured
Finance,
10%
Clearing, 10%
Stock Loan, 3% Other, 3%
5. 5
HilltopSecurities Leadership – Once Merged
Hill A. Feinberg Robert W. Peterson
John R. Muschalek J. Michael Edge
Chairman & CEO
• Company tenure:
24 years
• Financial Services
Experience: 44 years
President & COO
• Company tenure:
1 year
• Financial Services
Experience: 23 years
Chief Administrative Officer
• Company tenure:
23 years
• Financial Services
Experience: 27 years
Chief Financial Officer
• Company tenure:
15 years
• Financial Services
Experience: 17 years
Note: As of Oct. 2015
7. Notes: (1) Per SNL Financial
Notes: (2)Per Ipreo MuniAnalytics; based on number of bond and note issues over the last five years
Notes: (3)Based on number of retail financial advisors
Notes: (4)Per Marketrac; based on 2014 data
7
Hilltop Holdings Overview
• Hilltop Holdings is a Dallas, Texas-based diversified financial holding company with a complementary set of
operating companies
• Hilltop Holdings trades on the NYSE under the ticker symbol HTH
• Hilltop Holdings provides banking, mortgage origination, financial advisory and insurance through its subsidiaries:
• PlainsCapital Bank is the 6th largest1 Texas-based bank with 67 operating branches located in all major
Texas markets
• PrimeLending is the 6th largest4 mortgage originator in the U.S. by purchase units and has over 250
locations in 43 states
• Hilltop Securities Holdings is the parent of FirstSouthwest, the #1 financial advisor to municipalities2,
and HilltopSecurities, the largest full-service brokerage firm based in the Southwest3 – the broker-dealers will
be combined into HilltopSecurities
• National Lloyds is a niche insurance company that provides primarily fire and homeowners insurance for
low value dwellings in Texas and other southern states
8. 8
Combination of Franchises
Q2 ’15 HTH Key Statistics ($ mill.)
Total Assets $12,477
Common Equity $1,674
Employees (#) 5,400
Locations (#) 450
• 5 employee parent
company with $530
million in cash and
NYSE public listing
(“HTH”)
• $300 million asset
homeowners insurance
company generating
~$150 million in
premiums with approx.
150 employees
• $5.2 billion asset
commercial bank with
33 branches in Texas
and approx. 700
employees
• $970 million asset
mortgage company
originating ~$10 billion
in mortgages with
approx. 2,400
employees and 270
branches
• $640 million asset
broker-dealer with
approx. 400 employees
and annual revenue of
$111 million
• Commercial bank with
approx. 700 employees
and a significant South
Texas presence through
51 branches
• Assumed $2.6 billion in
assets through FDIC
assisted transaction
• $3.1 billion asset
broker-dealer with
approx. 700 employees
and annual revenue of
$240 million
• $1.3 billion asset bank
with approx. 170
employees and 13
locations in Texas and
New Mexico
Notes: HTH and NL statistics as of Q1 2012 (prior to PCC acquisition). PCC, FNB and SWS statistics each represent approximate numbers as of time period prior to respective
acquisition announcement.
Hilltop Holdings
& National Lloyds
PlainsCapital
Bank &
PrimeLending &
FirstSouthwest
First National
Bank of Edinburg
Southwest
Securities, Inc. &
Southwest
Securities, FSB
10. Gerald J. Ford
Chairman of the Board and Largest Shareholder
• Company Tenure: 10 years
• Financial Services Experience: 40 years
Jeremy B. Ford
President and CEO, HTH
• Company Tenure: 5 years
• Financial Services Experience: 16 years
Darren E. Parmenter
Principal Financial Officer, HTH
• Company Tenure: 15 years
• Financial Services Experience: 15 years
Corey G. Prestidge
General Counsel, HTH
• Company Tenure: 8 years
• Financial Services Experience: 11 years
10
Strong Leadership
Jerry L. Schaffner
President & CEO
PlainsCapital Bank
• Company Tenure: 27
years
• Financial Services
Experience: 33 years
Todd Salmans
CEO
PrimeLending
• Company Tenure: 9
years
• Financial Services
Experience: 41 years
Hill A. Feinberg
Chairman & CEO
Hilltop Securities
• Company Tenure: 24
years
• Financial Services
Experience: 44 years
Robert Otis
CEO
National Lloyds
• Company Tenure: 1
year
• Financial Services
Experience: 26 years
Alan B. White
Vice Chairman, HTH; Chairman & CEO, PCC
• Company Tenure: 27 years
• Financial Services Experience: 45 years
James R. Huffines
President and COO, PCC
• Company Tenure: 16 years
• Financial Services Experience: 38 years
John A. Martin
CFO, PCC
• Company Tenure: 5 years
• Financial Services Experience: 40 years
• Hilltop Holdings (HTH) • PlainsCapital Corporation (PCC)
• Subsidiary CEOs
Note: As of Oct. 2015
12. 12
PlainsCapital Bank – Overview
• State chartered, Federal Reserve member institution
with $8.5 billion in assets and $6.3 billion in
deposits
• Provides commercial banking, retail banking, trust,
treasury management and wealth management
• Community banking business model provides
superior customer service and responsive decision
making
• 67 branches in 12 MSAs, including Dallas / Fort
Worth (#10), Lubbock (#2), Austin (#10), San
Antonio (#21), Rio Grande Valley (#8 in McAllen)
and Houston
Branch Map (67 Branches)
Rank
Texas Headquartered
Banks & Thrifts Branches
Deposits
($mm)
Market
Share (%)
1 Cullen/Frost Bankers Inc. 136 23,894 3.63
2 Prosperity Bancshares Inc. 258 15,180 2.31
3 Texas Capital Bancshares Inc. 13 14,042 2.13
4 Comerica Inc. 134 10,317 1.57
5 International Bancshares Corp. 168 7,159 1.09
6 PlainsCapital Bank 67 6,333 0.96
Source: SNL Financial
Deposit market share data as of June 30, 2015 and pro forma for acquisitions
Includes banks & thrifts headquartered in Texas
Texas Deposit Market ShareKey Highlights 2014 1H 2015
Income Before Taxes ($000) 139,109 120,870
ROAA (%) 1.20 2.17
NIM (%) 5.00 4.80
Efficiency (%) 61.2 49.1
Tier 1 Leverage (%) 10.31 12.17
Note: First Half of 2015 results include bargain purchase gain and integration charges
related to SWS transaction
13. 13
PrimeLending – Overview
• PrimeLending has grown from a staff of 20 producing $80
million in annual closed loan volume to a staff of
approximately 2,500 producing $10.4 billion in 2014
• Quality franchise with a strong retail platform and focus on
the purchase mortgage business, which represented 76% of
volume in Q2 2015 versus the US industry average of 57%
• Expeditious loan processing, underwriting and closing in-
house
• Generates noninterest income (gain on sale) by selling
substantially all mortgage loans it originates to investors in
the secondary market (majority servicing released)
• Ranked #6 in US, #2 in Texas and #1 in Dallas in Purchase
Units by Market Trac for 2014
Key Highlights 2014 1H 2015
Income Before Taxes ($000) 12,365 30,975
Volume ($M) 10,364 6,647
Volume (Units) 48,655 29,373
Volume (% Purchase) 80.0% 69.2%
Volume (% Conventional) 62.6% 64.2%
Servicing Asset ($M) 36.2 45.0
Estimated US
Market Share: 0.61% 0.98%0.98%0.96%0.76%0.72% 0.85% 0.97%
2,852
2,345
1,866
2,839 2,946
2,713 2,814
3,834
-
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
Q3 '13 Q4 '13 Q1 '14 Q2 '14 Q3 '14 Q4 '14 Q1 '15 Q2 '15
Volume($M)
Note: Market share based on Mortgage Bankers Association forecast of industry volume
14. Homeowners
44%
Fire
31%
Mobile
Home
23%
Commercial
2%
National Lloyds – Overview
14
• National Lloyds is Texas-based niche P&C underwriter
that has specialized in low-value homeowners and
mobile home products for over 40 years
• Mainly in Texas, Oklahoma and Arizona, as well as
other southern states
• Typical to have underwriting losses in Q2 from
seasonal tornado and hail events in Texas
• Distribution via an established network of over 6,500
independent agents
• Supported by conservative catastrophic reinsurance
program and investment portfolio
• A.M. Best “A” (Excellent) Rated
Key Highlights ($000) 2014 1H 2015
Income Before Taxes 25,708 (3,390)
Direct Premium Written 172,464 89,313
Q2 2015 Direct Premiums Written
4,385
17,530
11,412
(5,459)
8,186
11,569
9,136
(12,526)
62%
40%
46%
87%
54%
44% 48%
102%
-40%
-20%
0%
20%
40%
60%
80%
100%
(16,000)
(8,000)
-
8,000
16,000
24,000
Q3 '13 Q4 '13 Q1 '14 Q2 '14 Q3 '14 Q4 '14 Q1 '15 Q2 '15
LossandLAERatio(%)
Pre-TaxIncome($000)
16. Hilltop Holdings – Summary Income Statement
16
($000) Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015
Interest income 104,408 93,217 99,316 107,669 115,662
Interest expense 5,962 7,457 7,802 14,227 14,995
Net interest income 98,446 85,760 91,514 93,392 100,667
Provision for loan losses 5,533 4,033 4,125 2,687 158
Net interest income after provision for
loan losses
92,913 81,727 87,389 90,705 100,509
Noninterest income 203,281 212,135 213,795 352,213 301,400
Noninterest expense 251,212 254,744 246,768 314,476 353,317
Income before income taxes 44,982 39,118 54,416 128,442 48,592
Income tax expense 16,294 14,010 20,950 15,420 18,137
Net income 28,688 25,108 33,466 113,022 30,455
Less: Net income attributable to noncontrolling
interest
177 296 325 353 405
Income attributable to Hilltop 28,511 24,812 33,141 112,669 30,050
Dividends on preferred stock 1,426 1,426 1,425 1,426 428
Income applicable to Hilltop common
stockholders
27,085 23,386 31,716 111,243 29,622
Source: Hilltop Holdings Inc. quarterly and annual SEC filings
17. Profitable Asset Growth
17
• Results are proof that the strategy of acquisitions and organic growth is working
• Assets have grown ~1.7x since Q1 2013, while maintaining superior profitability (median quarterly ROAA of ~1.3%)
-
0.50
1.00
1.50
2.00
2.50
3.00
3.50
4.00
-
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
Q1 '13 Q2 '13 Q3 '13 Q4 '13 Q1 '14 Q2 '14 Q3 '14 Q4 '14 Q1 '15 Q2 '15
ROAA(%)
TotalAssets($M)
Total Assets ROAA
Source: Hilltop Holdings Inc. quarterly and annual SEC filings
18. Strong History of Earnings
18
-
50
100
150
200
250
300
350
400
Q1 '13 Q2 '13 Q3 '13 Q4 '13 Q1 '14 Q2 '14 Q3 '14 Q4 '14 Q1 '15 Q2 '15
CumulativeNetIncometoCommon($M)
• Hilltop is financially stable and has significant long-term earnings power
• Since Jan. 1, 2013, Hilltop has generated cumulative net income of approximately $370 million
Source: Hilltop Holdings Inc. quarterly and annual SEC filings
19. 19
HTH Market Performance
+46%
+34%
+32%
Market Update
Ticker HTH
Stock Price $19.73
Shares O/S 99.5mm
Market Cap. $2.0bn
(20.00)
0.00
20.00
40.00
60.00
80.00
100.00
1/1/2013 9/8/2013 5/16/2014 1/21/2015 9/28/2015
StockPriceChange(%)
HTH KBW Bank Index S&P 500
• Since Jan. 1, 2013, Hilltop has outperformed the banking sector, as well as the broader market
Notes: Per SNL Financial, as of Sep. 28, 2015