HUD reaches agreement with Illinois lender accused of discrimination

The Department of Housing and Urban Development and Alpine Bank amp; Trust have reached an agreement to resolve claims that the lender discriminated against African-American and Hispanic mortgage applicants.

The Rockford, Ill.-based company will create a $1 million loan program designed to grow mortgage lending to residents of areas with African-American and Hispanic majorities as part of the agreement, HUD said Friday. The bank will also provide fair lending training to its staff and offer community outreach to minority neighborhoods such as homeownership and credit counseling.

American Capital Senior Floating Reports Net Investment Income for the Fourth Quarter and Year Ended December 31 …

NEW YORK–(BUSINESS WIRE)–

American Capital Senior Floating, Ltd. (“ACSF” or the “Company”) (ACSF) today reported net investment income of $2.8 million, or $0.28 per share, and net earnings of $7.7 million, or $0.77 per share, for the quarter ended December31, 2016. ACSF reported net investment income of $11.8 million, or $1.18 per share, and net earnings of $30.5 million, or $3.05 per share, for the year ended December31, 2016 and net asset value (“NAV”) of $136.8 million, or $13.68 per share, as of December31, 2016.

FOURTH QUARTER 2016 FINANCIAL HIGHLIGHTS

  • Investing activities
    • Invested $34.9 million into 20 new obligors
    • Sold $10.1 million of investments and received $17.4 million of repayments, including distributions received from our collateralized loan obligations (“CLOs”)
  • Invested $34.9 million into 20 new obligors
  • Sold $10.1 million of investments and received $17.4 million of repayments, including distributions received from our collateralized loan obligations (“CLOs”)
  • Net investment income of $0.28 per share, or $2.8 million
    • Decreased $0.03 per share from Q3 2016 net investment income of $0.31 per share
  • Decreased $0.03 per share from Q3 2016 net investment income of $0.31 per share
  • Net earnings of $0.77 per share, or $7.7 million
    • Decreased $0.26 per share from Q3 2016 net earnings of $1.03 per share due to lower net unrealized appreciation in Q4 2016 as compared to Q3 2016
  • Decreased $0.26 per share from Q3 2016 net earnings of $1.03 per share due to lower net unrealized appreciation in Q4 2016 as compared to Q3 2016
  • NAV of $13.68 per share, or $136.8 million as of December31, 2016
    • $0.48 per share increase from September30, 2016 NAV per share of $13.20
  • $0.48 per share increase from September30, 2016 NAV per share of $13.20
  • Monthly cash distributions to stockholders of $0.097 per share ($0.291 for the quarter)
    • 8.5% annualized yield on the December31, 2016 NAV per share
    • 9.8% annualized yield on the December31, 2016 closing market price of $11.90 per share
  • 8.5% annualized yield on the December31, 2016 NAV per share
  • 9.8% annualized yield on the December31, 2016 closing market price of $11.90 per share
  • $244.9 million investment portfolio at fair value as of December31, 2016
    • $188.1 million, or 77%, in first lien floating rate loans
    • $15.5 million, or 6%, in second lien floating rate loans
    • $41.3 million, or 17%, of equity in CLOs
  • $188.1 million, or 77%, in first lien floating rate loans
  • $15.5 million, or 6%, in second lien floating rate loans
  • $41.3 million, or 17%, of equity in CLOs
  • 6.50% investment portfolio yield at cost as of December31, 2016
  • 2.76% cost of funds as of December31, 2016
  • 0.77x debt to equity ratio as of December31, 2016

YEAR ENDED 2016 FINANCIAL HIGHLIGHTS

  • Investing activities
    • Invested $94.3 million into 64 new loan obligors and 3 new CLO equity positions
    • Sold $44.8 million of investments and received $59.4 million of repayments, including distributions received from our CLOs
  • Invested $94.3 million into 64 new loan obligors and 3 new CLO equity positions
  • Sold $44.8 million of investments and received $59.4 million of repayments, including distributions received from our CLOs
  • Net investment income of $1.18 per share, or $11.8 million
    • Decreased $0.09 per share from 2015 net investment income of $1.27 per share
  • Decreased $0.09 per share from 2015 net investment income of $1.27 per share
  • Net earnings of $3.05 per share, or $30.5 million
    • $4.52 per share improvement from the 2015 net loss from operations of ($1.47) per share
  • $4.52 per share improvement from the 2015 net loss from operations of ($1.47) per share
  • Cash distributions to stockholders of $1.164 per share declared in 2016

Strong technical conditions in the leveraged loan and CLO markets contributed to ACSF’s strong portfolio performance and earnings during the fourth quarter and full year 2016,” said Kevin Braddish, President and Chief Executive Officer. “Going forward, we believe we are well positioned to use the benefits of the Ivy Hill platform and its access to the Ares Management platform to manage ACSF’s investment portfolio and navigate changing market conditions.”

PORTFOLIO AND INVESTMENT ACTIVITY

As of December31, 2016, the fair value of ACSF’s portfolio totaled $244.9 million and was comprised of $188.1 million, or 77%, of first lien floating rate loans, $15.5 million, or 6%, of second lien floating rate loans (collectively, the “Loan Portfolio”) and $41.3 million (or 17%) of CLO equity (the “CLO Portfolio” and, together with the Loan Portfolio, the “Investment Portfolio”).

As of December31, 2016, ACSF’s Loan Portfolio was diversified across 149 issuers and 45 industries and its CLO Portfolio was invested in 21 issuers across 15 different collateral managers. The following table depicts the Investment Portfolio activity by investment type for the quarter ended December31, 2016:

Capital One® And Car Designer Chip Foose To Discuss New Ways Of Buying And Financing Cars At 2017 DFW Auto …

DALLAS, March 16, 2017 /PRNewswire/ — Capital One, one of the title sponsors of the 2017 DFW Auto Show, March 22-26, will provide attendees with the opportunity to meet with well-known car designer, Chip Foose, at their Capital One Auto Navigator Garage. The Garage is a specially-constructed interactive space that will also feature one of Fooses custom-designed cars throughout the duration of the show. Known for his expertise in car design and restoration, Foose will talk about the latest trends in the car industry. In addition, Adrienne Janic, TV host, model and car enthusiast, will also be available to meet with attendees.

  • Meet and Greet with Chip Foose: March 25-26, 11 am-3 pm
  • Meet and Greet with Adrienne Janic:
    • March 22, 6 pm-8 pm
    • March 23, 3 pm-9 pm
    • March 24, 3 pm-9 pm
    • March 25, 11 am-3 pm
  • March 22, 6 pm-8 pm
  • March 23, 3 pm-9 pm
  • March 24, 3 pm-9 pm
  • March 25, 11 am-3 pm

The Capital One Auto Navigator Garage will offer an immersive experience where attendees can interact with Auto Navigator, a website that simplifies the car buying process. Consumers are looking for a more streamlined way to buy and finance a car. With Auto Navigator, were giving them just that, so they feel confident and ready to buy when they visit a dealership, said Ian Forrester, Senior Vice President, Capital One Auto Finance. We look forward to sharing this tool with attendees at the DFW Auto Show, and discussing the latest in car buying and financing with Chip Foose.

Im thrilled to be joining Capital One at this years DFW Auto Show, said Foose. In my more than 45 years in the auto industry, styles, models and technology have constantly evolved. So too has the way we find and finance cars – the Capital One Auto Navigator website is a great example of that.

Car buyers spend an average of nearly nine hours on different online sites shopping for cars. With Auto Navigator, consumers can pre-qualify for auto financing in minutes with no impact to their credit score. They can also search over three million cars from over 12,000 participating dealers. They can see their personalized APR and monthly payment on each car once they pre-qualify for financing, and customize their offer based on factors such as down payment amounts and different term lengths. In addition, they can get dealer ratings and car reviews, and even access car history reports. To check out Auto Navigator, and find and finance the car of your dreams, visit capitalone.com/cars.

The Capital One Auto Navigator Garage will be located in Hall F, and in addition to Fooses car, will feature an interactive photo booth, where attendees can take pictures with sketches of Fooses custom cars. The space will also feature other fun activities and swag.

For more information and for DFW Auto Show tickets, visit the DFW Auto Show website.

About Capital One
Capital One Financial Corporation (www.capitalone.com) is a financial holding company whose subsidiaries, which include Capital One, NA, and Capital One Bank (USA), NA, had $236.8 billion in deposits and $357.0 billion in total assets as of December 31, 2016. Headquartered in McLean, Virginia, Capital One offers a broad spectrum of financial products and services to consumers, small businesses and commercial clients through a variety of channels. Capital One, NA has branches located primarily in New York, Louisiana, Texas, Maryland, Virginia, New Jersey and the District of Columbia. A Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol COF and is included in the Samp;P 100 index.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/capital-one-and-car-designer-chip-foose-to-discuss-new-ways-of-buying-and-financing-cars-at-2017-dfw-auto-show-300424570.html