Orrstown Financial Services, Inc. Announces Focus on Strategic Investments and Operational Efficiencies

The MarketWatch News Department was not involved in the creation of this content.

SHIPPENSBURG, Pa., Sep 24, 2020 (GLOBE NEWSWIRE via COMTEX) —
SHIPPENSBURG, Pa., Sept. 24, 2020 (GLOBE NEWSWIRE) — Orrstown Financial Services, Inc. (“Orrstown”), the holding company for Orrstown Bank (the “Bank”) is announcing a series of steps to adjust its near-term tactical plans due to the COVID-19 pandemic. These changes involve the consolidation of six branch locations, the elimination of excess back office space and certain staffing model adjustments. These initiatives are expected to generate approximately $4 million of pre-tax annual expense savings once completed, with a one-time pre-tax charge of approximately $1.5 million to be incurred in the third quarter of 2020. Additional strategies are being developed for 2021 to maintain fee-based revenue at levels above historical trends and to continue to optimize the balance sheet mix during an anticipated prolonged period of low interest rates.… Read More

CIBC Asset Management announces CIBC ETF cash distributions for September 2020

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TORONTO, Sep. 24, 2020 (Canada NewsWire via COMTEX) —
CIBC (TSX: CM) (NYSE: CM) – CIBC Asset Management Inc. today announced the September 2020 cash distributions for CIBC ETFs, which distribute monthly and quarterly.

Unitholders of record on September 30, 2020, will receive cash distributions payable on October 5, 2020. Details of the final “per unit” distribution amounts are as follows:



              CIBC ETF

          TSX Ticker Symbols

     Cash Distribution Per Unit ($)

    ---


       CIBC Active Investment Grade Floating Rate Bond ETF
     CAFR                                                         $0.026

    ---


       CIBC Active Investment Grade Corporate Bond ETF
     CACB                                                         $0.045

    ---


       CIBC Flexible Yield ETF (CAD-Hedged)
     CFLX                                                         $0.057

    ---


       CIBC Multifactor Canadian Equity ETF
     CMCE                                                         $0.095

    ---


       CIBC Multifactor U.S. Equity ETF
     CMUE                                                         $0.050

    ---


       CIBC Multifactor U.S. Equity ETF
            (CAD-Hedged)
     CMUE.F                                                       $0.048

    ---

CIBC ETFs are managed by CIBC Asset Management Inc., a subsidiary

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Brookfield Asset Management Announces Pricing of US$500 Million Debt Offering

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(GLOBE NEWSWIRE via COMTEX) —
BROOKFIELD NEWS, Sept. 23, 2020 (GLOBE NEWSWIRE) — Brookfield Asset Management Inc. (“Brookfield”) (TSX: BAM.A, NYSE: BAM) today announced the pricing of its previously announced public debt offering of notes due 2051 (the “notes”). The size of the offering will be US$500 million.

The notes will have a coupon of 3.500% and will be issued at a price equal to 99.313% of their face value for an effective yield of 3.537%. The notes will be issued by Brookfield Finance Inc., an indirect 100% owned subsidiary of Brookfield, and will be fully and unconditionally guaranteed by Brookfield. The net proceeds from the sale of the notes will be used for general corporate purposes. The offering is expected to close on or about September 28, 2020.

The notes will be offered under Brookfield Finance

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Planet 13 Announces Closing of C$23 Million Bought Deal Public Offering

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September 10, 2020 (ACCESSWIRE via COMTEX) —
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

LAS VEGAS, NV / ACCESSWIRE / September 10, 2020 / Planet 13 Holdings Inc. (“Planet 13” or the “Company”) (CSE:PLTH)(OTCQX:PLNHF), a leading vertically-integrated Nevada cannabis company, is pleased to announce that it has completed its previously announced bought deal financing for aggregate gross proceeds of C$23,019,550 (the “Offering”). A total of 6,221,500 units (the “Units”) of the Company were sold pursuant to the Offering, including an aggregate of 811,500 Units issued as a result of the full exercise of the Underwriters’ (as defined herein) over-allotment option (the “Over-Allotment Option”), at a price of C$3.70 per Unit. The Offering was conducted by a syndicate of underwriters co-led by Beacon Securities Limited and Canaccord Genuity Corp.

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Insurance Technologies Announces Acquisition by Thomas H. Lee Partners

COLORADO SPRINGS, Colo. & BOSTON–(BUSINESS WIRE)–Insurance Technologies, LLC (“InsTech” or the “Company”), a provider of sales and regulatory automation solutions for the insurance and financial services industries, and Thomas H. Lee Partners, L.P. (“THL”), a premier private equity firm investing in growth companies, today announced that they have entered into a definitive agreement under which THL will acquire a majority stake in Insurance Technologies from NexPhase Capital, LP, an operationally-focused private equity firm and sub-advisor to the Moelis Capital Partners (“MCP”) Opportunity Funds. InsTech will continue to be led by its Chief Executive Officer, David Fenimore and the other members of its senior management team.

“We are thrilled to partner with THL, whose deep insurance experience and track record of investing in growth financial technology businesses will be invaluable as we enter the next chapter of the Company’s growth,“ said Fenimore. “We believe this partnership with THL will

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Capco Announces PlatformZero, a Cloud-Based, Low-Code Digital and Automation Solution for Financial Services Institutions

Capco’s PlatformZeroSM eliminates back-office inefficiencies and helps financial institutions improve digitization across the enterprise

Capco, the global management and technology consultancy, today announced the launch of PlatformZeroSM, a fully cloud-based digital and automation solution focused exclusively on the financial services industry. PlatformZero is designed to increase efficiency and eliminate high-cost processes across the back office and improve control and service for end-to-end process digitization.

PlatformZero’s low-code solution helps financial institutions sell and service their clients more effectively. PlatformZero provides a wide range of digital, automation, and integration features and is fully customizable for banking, wealth and insurance industries. It can also be used to provide a better employee experience, resulting in enhanced productivity and significant cost reductions. With PlatformZero, organizations can rapidly onboard and achieve significant efficiencies without the delivery risk, cost and time associated with traditional programs.

Lance Levy, CEO of Capco, said: “Across the industry,

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Ionic Brands Announces Changes to Its Directors & Officers Insurance and Resulting Modifications to Its Board of Directors

TACOMA, WA / ACCESSWIRE / September 25, 2020 / IONIC BRANDS CORP. (CSE:IONC)(OTC PINK:IONKF)(FRA:1B3) (“IONIC BRANDS” or the “Company”) announces the temporary discontinuation of the Company’s Directors and Officers (“D&O”) Insurance policy due to the exorbitant cost of premiums to the operations as of July 1st 2020. While this is a difficult decision for the Company to make, it is a necessary financial decision for the short term. Consequently, the Company will be reducing the number of Directors, down from seven to five, where Christian Vara was the last Company appointment, Board ratified member added on February 25, 2020.

Ionic Brands hopes to reinstate the D&O Insurance policy sometime in the 4th quarter this year, at which point the Company will evaluate adding additional board members. Mr. Brian Lofquist and Mrs. M. Carroll Benton have chosen to relinquish their board positions as Directors of the Company effective immediately.

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Betsy DeVos announces $17.7 million for small business program at Hampton University

The U.S. Department of Education is setting aside $17.7 million in coronavirus relief funds for a new small business incubator at Hampton University.

Secretary of Education Betsy DeVos announced the grant in a visit to campus Friday morning. Virginia is one of eight states that won part of over $126 million set aside for workforce programs as part of the federal government’s COVID-19 response.

The Virginia Workforce Innovation and Entrepreneurship Center will be a partnership between the university, the Virginia Board of Workforce Development and Old Dominion University.

“This program is for all kinds of students, of all ages, including and especially adult learners seeking new knowledge and skills to grow and evolve their own businesses,” DeVos said. “I’m excited to see how this center will expand Hampton’s influential role in this community and throughout Virginia.”

The announcement is the latest announcement connected to the relationship between Hampton President William

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Timber Ridge Announces Sale Of Hartland Property

ASHBURN, Va., Sept. 11, 2020 /PRNewswire/ — Timber Ridge Management, LLC, the developer of the acclaimed Willowsford community in Loudoun County, has announced the sale of their adjacent residential development known as Hartland. The Timber Ridge team worked on the planning, engineering, and community layout for nearly two years in preparation for land development. The property was purchased by Hines and Sumitomo / Dan Ryan on September 10, 2020.

Hines is one of the largest and most respected real estate organizations in the world, known for the development of such celebrated projects as CityCenterDC in Washington, D.C.; Wolf Point in Chicago; and 53 West 53 in New York City – just to name a few of the properties in its vast portfolio.

“The Hartland property has the potential to be another iconic community for Hines,” said Rick DiBella, principal of Timber Ridge Management.

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Vitiello Communications Group Announces Certifications in Change Management and Inclusive Workplace Culture

NORTH BRUNSWICK, N.J., Sept. 22, 2020 /PRNewswire/ — Vitiello Communications Group (VTLO.com) today announced two of its practice leaders have attained industry certifications. Carol Feinberg, vice president of client growth and innovation, has earned the Prosci Change Management Practitioner certification. Richelle Feigin, Ph.D., account director, has earned the Society for Human Resource Management (SHRM) Inclusive Workplace Culture (IWC) Specialty Credential.

Feinberg leads the agency’s change management communications practice area, with special emphasis on the remote workforce revolution. A recognized expert in developing communications strategy and content in support of global organizational changes such as mergers, acquisitions and divestitures, Feinberg trained agency members in change management fundamentals as part of the professional development program she spearheads, VTLO Learns.

Feigin directs the agency’s IWC practice area, with a focus on bringing corporations’ diversity, inclusion and allyship programs to life. A skilled facilitator and award-winning creative, Feigin conducted a VTLO

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