Independent bank texas stock -Source: Independent Bank Group, Inc. MCKINNEY, Texas, April 17, 2014 (GLOBE NEWSWIRE) -- Independent Bank Group, Inc. (Nasdaq: IBTX ), the holding company for Independent Bank, today announced the completion of the acquisition of BOH Holdings Inc. and its subsidiary, Bank of Houston, Houston, Texas (collectively "BOH"). BOH reported total consolidated assets of $923.9 million, total deposits of $804.2 million, and total equity capital of $97.5 million at December 31, 2013. Bank of Houston is a full service commercial bank with six offices in the greater Houston, Texas area. Under the terms of the definitive agreement, Independent Bank Group issued approximately 3,616,060 shares of Independent Bank Group common stock and paid $34.0 million in cash for the outstanding shares of BOH common stock. In connection with the transaction, three directors of BOH, James D. Stein, Donald L. Poarch, and J. Webb Jennings III, became directors of Independent Bank Group and Stein was named Vice Chairman and Houston Region Chief Executive Officer. David Brooks, Chairman and Chief Executive Officer of Independent Bank Group commented: "This acquisition is a major component of our strategy as we enter the dynamic Houston market. We are excited to have the BOH leadership and employees join the Independent team. " About Independent Bank Group Independent Bank Group, through its wholly owned subsidiary, Independent Bank, provides a wide range of relationship-driven commercial banking products and services tailored to meet the needs of businesses, professionals and individuals. Independent Bank Group operates 30 full service banking locations with 22 located in the Dallas/North Texas region and eight located in the Austin/Central Texas region. As of December 31, 2013, Independent Bank Group had total assets of $2.165 billion, total loans of $1.723 billion and total deposits of $1.710 billion. In connection with the acquisition of BOH Holdings, Inc., Independent Bank Group filed with the Securities and Exchange Commission registration statements on Form S-4 to register the shares of Independent Bank Group's common stock issued to the shareholders of BOH Holdings. The registration statement includes a proxy statement/prospectus which was sent to the shareholders of Independent Bank Group and BOH Holdings seeking their approval of the transaction. WE URGE INVESTORS AND SECURITY HOLDERS TO READ THE REGISTRATION STATEMENTS ON FORM S-4, THE PROXY STATEMENT/PROSPECTUS INCLUDED WITHIN THE REGISTRATION STATEMENTS ON FORM S-4 AND ANY OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SECURITIES AND EXCHANGE COMMISSION IN CONNECTION WITH THE TRANSACTION BECAUSE THESE DOCUMENTS CONTAIN IMPORTANT INFORMATION ABOUT INDEPENDENT BANK GROUP AND BOH HOLDINGS AND THE RESPECTIVE TRANSACTION. Investors and security holders may obtain copies of these documents free of charge through the website maintained by the Securities and Exchange Commission at http://www.sec.gov or from Independent Bank Group at its website, www.ibtx.com . Documents filed with the SEC by Independent Bank Group will be available free of charge by directing a request by telephone or mail to Independent Bank Group, Inc., 1600 Redbud Blvd., Suite 400, McKinney, Texas 75069, 972-562-9004. Forward-Looking Statements This release contains forward-looking statements within the meaning of the securities laws that are based on current expectations, assumptions, estimates and projections about Independent Bank Group and its subsidiaries. These forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, many of which are outside of Independent Bank Group's control that may cause actual results to differ materially from those expressed or implied by the forward-looking statements. These risks and uncertainties include but are not limited to whether Independent Bank Group can: successfully identify acquisition targets and integrate the businesses of acquired companies and banks; continue to sustain its current internal growth rate or total growth rate; provide products and services that appeal to its customers; continue to have access to debt and equity capital markets; and achieve its sales objectives. Other risks include, but are not limited to: the trading price of Independent Bank Group common stock; the possibility that credit quality could deteriorate; actions of competitors; changes in laws and regulations (including changes in governmental interpretations of regulations and changes in accounting standards); a deterioration or downgrade in the credit quality and credit agency ratings of the securities in Independent Bank Group's securities portfolio; customer and consumer demand, including customer and consumer response to marketing; effectiveness of spending, investments or programs; economic conditions, including current rate fluctuations and interest rate fluctuations; and weather. These and various other factors are discussed in Independent Bank Group's Quarterly Report on Form 10-Q for the quarters ended March 31, 2013, June 30, 2013, and September 30, 2013, Annual Report on Form 10-K for the year ended December 31, 2013 and other reports and statements that Independent Bank Group has filed with the SEC. Analysts/Investors:Torry BerntsenPresident and Chief Operating Officer(972) 562-9004Michelle HickoxExecutive Vice President and Chief Financial Officer(972) 562-9004Media:Eileen PonceMarketing Director(469) 742-9437 Related Articles
Oil prices rise to one-week high despite consuming nations' stocks release
MADRID: The coronavirus pandemic will cost the global tourism sector $2.0 trillion in lost revenue in 2021, the UN’s tourism body said Monday, calling the sector’s recovery “fragile” and “slow.”
The forecast from the Madrid-based World Tourism Organization comes as Europe is grappling with a surge in infections and as a new heavily mutated Covid-19 variant, dubbed Omicron, spreads across the globe.
International tourist arrivals will this year remain 70-75 percent below the 1.5 billion arrivals recorded in 2019 before the pandemic hit, a similar decline as in 2020, according to the body.
The global tourism sector already lost $2.0 trillion (1.78 trillion euros) in revenues last year due to the pandemic, according to the UNWTO, making it one of sectors hit hardest by the health crisis.
While the UN body charged with promoting tourism does not have an estimate for how the sector will perform next year, its medium-term outlook is not encouraging.
“Despite the recent improvements, uneven vaccination rates around the world and new Covid-19 strains” such as the Delta variant and Omicron “could impact the already slow and fragile recovery,” it said in a statement.
The introduction of fresh virus restrictions and lockdowns in several nations in recent weeks shows how “it’s a very unpredictable situation,” UNWTO head Zurab Pololikashvili told AFP.
“It’s a historical crisis in the tourism industry but again tourism has the power to recover quite fast,” he added ahead of the start of the WTO’s annual general assembly in Madrid on Tuesday.
“I really hope that 2022 will be much better than 2021.”
While international tourism has taken a hit from the outbreak of disease in the past, the coronavirus is unprecedented in its geographical spread.
In addition to virus-related travel restrictions, the sector is also grappling with the economic strain caused by the pandemic, the spike in oils prices and the disruption of supply chains, the UNWTO said.
Pololikashvili urged nations to harmonize their virus protocols and restrictions because tourists “are confused and they don’t know how to travel.”
International tourist arrivals “rebounded” during the summer season in the Northern Hemisphere thanks to increased travel confidence, rapid vaccination and the easing of entry restrictions in many nations, the UNWTO said.
“Despite the improvement in the third quarter, the pace of recovery remains uneven across world regions due to varying degrees of mobility restrictions, vaccination rates and traveler confidence,” it added.
Arrivals in some islands in the Caribbean and South Asia, and well as some destinations in southern Europe, came close to, or sometimes exceeded pre-pandemic levels in the third quarter.
Other countries however hardly saw any tourists at all, particularly in Asia and the Pacific, where arrivals were down 95 percent compared to 2019 as many destinations remained closed to non-essential travel.
A total of 46 destinations — 21 percent of all destinations worldwide — currently have their borders completely closed to tourists, according to the UNWTO.
A further 55 have their borders partially closed to foreign visitors, while just four nations have lifted all virus-related restrictions — Colombia, Costa Rica, Dominican Republic and Mexico.
The future of the travel sector will be in focus at the WTO annual general assembly, which will run until Friday.
The event — which brings together representatives from 159 members states of the UN body — was original scheduled to be held in Marrakesh.
But Morocco in late October decided not to host the event due to the rise in Covid-19 cases in many countries.
Before the pandemic, the tourism sector accounted for about 10 percent of the world’s gross domestic product and jobs.
Govt to move bill banning all 'private' crypto; stock options are the new gold
Also in this letter:
- Startups buy back stock options worth Rs 3,200 cr in 17 months
- Classify social media sites as publishers, says parl panel
- NoBroker is India’s first proptech unicorn
Bill banning all 'private' cryptocurrencies to be introduced in winter session
The government will introduce a bill that bans all “private” cryptocurrencies in India, with certain exceptions, during the winter session of Parliament for consideration and passing. The winter session starts on November 29.
The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 also seeks to create a framework for an official digital currency to be issued by the Reserve Bank of India.
Also Read: What are Central Bank Digital Currencies?
It is one of 26 pieces of legislation up for consideration in the winter session of Parliament, according to a bulletin issued by the Lok Sabha on Tuesday. “The bill seeks to prohibit all private cryptocurrencies in India. However, it allows for certain exceptions to promote the underlying technology of cryptocurrency and its uses,” said the Lok Sabha bulletin.
- The government had planned to take up the cryptocurrency bill during the budget session earlier this year but deferred the move to hold wider consultations.
Hoping against hope: The crypto industry, which has argued that digital currencies need to be regulated, not banned, is still hopeful there won’t be a complete ban on cryptocurrencies. “While the description of the draft bill appears to be the same as in January 2021, several noteworthy events have occurred since then,” said Nischal Shetty, founder of crypto exchange WazirX. “First, the parliamentary standing committee invited a public consultation, and then our prime minister himself came forward to call for crypto regulations in India.”
Parl panel meeting: The news comes a week after a Parliamentary committee on finance, led by BJP MP and former union minister Jayant Sinha, met with crypto associations and experts. They told the committee that cryptocurrency is here to stay and the challenge is to find ways of regulating it.
Sinha said afterwards that the intent of the meeting was to get a better understanding of the market. “No view has been taken by the committee... This meeting was essentially to gather information from the industry and understand the landscape of cryptofinance,” he said.
He said the committee heard the exchanges on various aspects, including their user base and total investments. Industry players claimed they had 15 million registered users with a total investment of Rs 600 crore, he said.
Prime Minister Narendra Modi also chaired a meeting on cryptocurrencies with officials from the RBI, finance ministry, and the Securities and Exchange Board of India (Sebi) earlier this month.
Is this the middle path? We reported earlier this month that the government was considering a “middle path” on cryptocurrencies as it finalised legislation for the winter session. But the Reserve Bank of India has stuck to its long-held stance of calling for a complete ban on cryptocurrencies, terming them a threat to macroeconomic and financial stability.
Also Read: Cryptocurrency in India: The past, present and uncertain future
NFT stars run into IP disputes: Meanwhile, film stars trying to monetise non-fungible tokens (NFT) could run into intellectual property disputesdue to ambiguities over who actually owns the assets -- actors or production houses. At the heart of the rights disputes are the NFTs comprising pictures, autographs, dialogues or paintings related to a celebrity.
A top Bollywood actor recently joined hands with a Dubai-based company to launch his own NFTs, but soon found out that people were already selling GIFs featuring him as NFTs.
"When it comes to NFTs, intellectual property rights are one of the biggest concerns not just for the celebrities and artists that have hopped on to it, but also even to some of the large production houses,” said Zulfiquar Memon, managing partner, MZM Legal, a law firm. “In most cases, the NFTs are created in one jurisdiction and then sold internationally. There are many questions presently which relate to jurisdiction, locus and ownership and as to which agency is competent to investigate in case of infringements."
Startups buy back stock options worth Rs 3,200 crore in 17 months
Since July 2020, nearly 40 Indian startups have bought back stock options worth Rs 3,200 crore from employees, according to data compiled for us by ESOP Direct.
Taking stock:As an increasing number of new-age companies are offering their employees stock options as a form of wealth creation. Over the past few months, the frequency of stock option buybacks has increased, with companies trying to outdo each other in an effort to draw or retain the best talent.
Some firms even have continuous liquidity programmes, which allow employees to cash in their stock options any time over the course of a year.
Who’s doing what?Companies that have conducted large buybacks over the past year include Flipkart (Rs 600 crore), Browserstack (Rs 365 crore), Upgrad (Rs 220 crore), Udaan (Rs 175 crore), PhonePe (Rs 135 crore), Innoviti (Rs 36.5 crore) and Licious (Rs 30 crore).
Last month, Meesho announced its second liquidity programme of $5.5 million(more than Rs 40 crore) in less than a year. “[Stock options] are a wealth creation opportunity for employees, especially in hyper-growth companies, they can create immense value for employees and reward their efforts,” said Ashish Kumar Singh, chief HR officer at Meesho.
On Tuesday, meat and seafood company Licious introduced an “everyday vesting, anytime liquidation” stock option plan for over 1,000 employees. Starting January, all eligible staff members will have their stock options vested daily and will be able to liquidate them at any time, no strings attached.
Tweet of the day
Classify social media sites as publishers, says parliamentary panel
India’s lawmakers have recommended that social media platforms should be classified as publishersand be made responsible for the content on their platforms. They should also have to verify the identity of users, said the report by the joint parliamentary committee (JPC) on the Personal Data Protection Bill, 2019.
The report, which was finally adopted by the members after two years of deliberations, is expected to be tabled during the winter session of Parliament.
Other recommendations: The JPC also called for the establishment of an independent body on the lines of the Press Council of India to regulate social media. This would have huge ramifications for platforms such as Facebook, Twitter, and WhatsApp.
Social media platforms will not be allowed to operate in the country if their parent companies do not have an office in India, the JPC stated.
Row over non-personal data:The inclusion of non-personal data in the legislation, which was meant to be a “privacy bill”, has not gone down well with the industry, which has been requesting the government to keep the two legislations separate.
Dissenting voices: We reportedon Tuesday that the committee headed by BJP MP PP Chaudhary adopted the draft report in its final meeting. However, several parliamentarians from the Congress, All India Trinamool Congress (AITC) and other parties submitted dissent notes, objecting to the broad exemptions for the government and its agencies in the bill.
Blume Ventures raises $105 million for fourth India fund
Early-stage venture capital firm Blume Ventures has made the first close of $105 millionof its fourth India-dedicated fund, aiming to shore up the targeted $200 million, its biggest so far.
- ET was the first to report on the firm’s plan to launch a new fund in May. Blume expects to make the final close by the end of the financial year.
The VC firm joins a long list of India-focused funds that have raised large sums to deploy in new economy companies amid what has been a record year for startup fundraising in India.
ET reported earlier that A91 Partners, Stellaris Venture Partners, 3one4 Capital and Chiratae have all racked up bigger funds than to their previous editions to stay competitive in a frenetic dealmaking environment.
The unprecedented funding comes in the backdrop of huge liquidity in global markets, greater adoption of digital platforms during the Covid-19 pandemic, and a spate of domestic tech initial public offerings.
Blume, which has backed ed-tech firm Unacademy, used car selling platform Spinny, and beauty e-tailer Purplle, typically comes in during the pre-seed to pre-Series A funding rounds of technology companies and has built a large portfolio over the past decade.
NoBroker is India’s first proptech unicorn after $210 million funding
NoBroker, a Bengaluru-based real estate startup, has raised $210 millionin its Series E funding round, led by General Atlantic, Tiger Global and Moore Strategic Ventures.
Valuation: The funding took place at a post-money valuation of $1.01 billion, making NoBroker India’s first property tech—or proptech—unicorn and the 36th unicorn minted amid unprecedented funding this year. It was last valued at $400 millionwhen it raised funds in April 2020.
The valuation jump comes on the back of increased buying and selling of real estate, the company’s additional offerings, and a drop in interest rates post-Covid.
NoBroker will use the funds to build its product and technology team, go deeper into existing markets and enter more markets, for marketing, and to build NoBroker Hood, its “gated-community” app and marketplace.
One-stop shop: The Bengaluru-headquartered startup was founded by Saurabh Garg, Akhil Gupta and Amit Kumar Agarwal in 2013. Garg said, “In the past couple of years we have transformed ourselves from just a real estate transaction platform to a one-stop-shop. And this has given us a huge boost because clearly the number of transactions is increasing and customers are finding a lot more value in our services,” said.
Covid boost:The startup said it also saw a boost in demand for home buying during Covid. “A huge number of transactions are coming from end-use customers, not investors who want to flip real estate quickly. So the demand has been robust,” said Gupta, adding that sees this trend continuing in the near future.
What it does:NoBroker operates a brokerage-free real estate platform and captures the entire customer journey—everything from listing a house to hiring packers and movers, securing a home loan, painting and cleaning services, legal services and rent payments, among other things.
It claims to have more than 1.5 crore registered users across six cities—Bengaluru, Mumbai, Pune, Chennai, Hyderabad and Delhi-NCR—but hasn’t revealed how many of them pay for its services.
What is proptech?Property technology or proptech is the use of technology to help individuals and companies buy, sell or manage real estate. Technology-driven startups in the real estate sector are thus called proptech startups. These are three broad verticals that proptech startups fall into.
- Smart Real Estate: These are tech platforms that facilitate the operation and management of real estate assets. The platforms may simply provide information about building or urban centre performance, or they may directly facilitate or control building services. This sector supports real estate asset, property and facilities management.
- The Shared Economy: This describes platforms that facilitate the use of real estate assets. These can be land or buildings, offices, shops and types of property. This sector supports the real estate occupier markets.
- Real Estate FinTech: These are tech platforms that facilitate the trading of real estate asset ownership. The assets can be buildings, shares or funds, debt or equity. This sector supports the real estate capital markets.
Proptech in India:Proptech startups in India include NoBroker, Magicbricks*, NestAway, 99acres and PropTiger-Housing. (Full disclosure: *Times Internet, which publishes ETtech, is the owner of Magicbricks).
A report by Housing.com in March said that despite the pandemic, India’s proptech sector attracted over $551 million in investments in 2020, more than the $549 million they raised in 2019.
The report noted that while the majority of transactions in India’s estimated $1.4 billion real estate industry are still conducted offline, more than 50% of real estate buying decisions start with an online search. This, it said, showed the growing influence of proptech companies in India. It estimated that the potential market for proptech firms could be one billion people by 2025.
Need an Indian alternative to SWIFT payment system, says Parl panel
India should develop an indigenous alternative to the SWIFT payment systemto better protect privacy of domestic financial data and boost the economy, the Joint Parliamentary Committee that is looking into the Personal Data Protection Bill, 2019 has suggested.
The panel has recommended that an alternative indigenous financial system be developed on the lines of similar systems elsewhere, such as Ripple (USA), INSTEX (EU), etc.
Quote: “The Committee observes that data protection in the financial sector is a matter of genuine concern worldwide, particularly when through the SWIFT network, privacy has been compromised widely. Indian citizens are engaged in huge cross-border payments using the same network,” the panel said in its report, which ET has reviewed.
Other Top Stories By Our Reporters
Haber raises $20 million in Series B funding:Pune-headquartered Haber, which makes AI-driven industrial robots said it has raised $20 million in Series B funding, taking its total funds raised to $27 million.
TCS to help Swiss Re set up a cloud-based digital workspace: TCS has expanded its eighteen-year-long strategic partnershipwith Swiss Re, to help the Zurich-based reinsurance company build a more social and open digital workspace leveraging cloud computing.
Global Picks We Are Reading
- Amazon and Apple handed $225 million Italian fine for alleged collusion (Reuters)
- Samsung to pick Taylor, Texas, for its $17 billion chip plant (Reuters)
- Tesla details $1 billion costs for Gigafactory Texas, targets year-end completion (Reuters)
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Fountainhead commercial capital lawsuit
Fountainhead commercial capital lawsuit
fountainhead commercial capital lawsuit Documents: 04/03/19 – Order Revoking About the Licensee status Elizabeth M. San Jose’s current ordinance, passed by lawmakers last year, bans natural gas in new residential buildings including single-family homes, low-rise apartments and condos — but incoming office and People v. The company’s mission is to fuel the American Dream by helping small business owners (2003). Is everything really an argument? Seeing the images on the cover of this book might make you wonder. Financing the Pacific Northwest since 1994. Find More Contacts for Fountainhead Commercial Capital. The undersigned agrees to notify Fountainhead immediately of any material changes in this information. Thursday, October 21, 2021 - 9:30am. Ben continues to serve as a board member and participates in sensitive discussions about the lawsuit. Before launching Roark Capital, he was the co-founder and CFO of US Franchise Systems, an owner and operator of hotel brands that increased its holdings more than 20-fold under his leadership. Small Business Administration (SBA) 7(a) Program loans to small business owners for working capital, business acquisitions, partner buyouts, equipment, furniture and fixtures, startup capital, and debt refinancing, among … Increase Working Capital. Access to working capital is the key advantage of a sale leaseback and what makes it such a popular decision for businesses that are looking to grow. Beware of Scams. Ai3 Aire Solutions Alexander Home Construction […] About Newtek. Members of the public may submit comments on the Agenda Fountainhead Integrated Communication Private Limited is a Private incorporated on 06 March 2003. * Written Consent to forward your feedback including any contact details to the relevant financial institution. Johnson; Melamed v. Commercial Litigation. ٢٤ رجب ١٤٤١ هـ chief executive of small-business lender Fountainhead Commercial Capital, who is familiar with SBA requirements. Adding Anthony J. Alliance Residential Company is one of the largest and most active rental residential real estate developers in the United States. The targets of their lawsuits are often the startups that are trying to drive real innovation in our economy, companies that rarely have the resources to fight back. Martha Karsh, who is heading the Benedict Canyon residents' campaign against the prince’s home, with her husband, Bruce, 56, the co-founder of investment The New Establishment: 2013. Help from a particular business won't Between 2005 and 2008 it bought back $5 billion worth of stock — well over double what was spent on capital expenditures during the same time frame. Knotted fringed edge detail. Effective 12/21/00 the rate used under the referenced code sections is the weekly average Beware of Scams. 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Get data on over 3. and all existing or newly formed per annum for Eurocurrency Rate Loans and Financial Letter of Credit Fees, Fountainhead is an industry-leading, nonbank lender. بر اساس اعلام مرکز آمار ایران گزارشهای رسمی از ادامه روند افزایش تورم تا ۴۵. If you’re interested in learning more about sale-leaseback commercial real estate, give us a call at Fountainhead Commercial. Here's how Craft3 can help. nmlsconsumeraccess. Eyeing an all-electric future, the San Jose City Council will vote Dec. Fountainhead Commercial Capital, LLC, 2021 WL 3501518, No. No authority requiring payments of sales tax to third-party total loss claims. The property was in a great location and the was clean. Original review: June 25, 2021. As you make your way through our website, please know we want to hear about your experience, including how we can improve.  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He is the founder and CEO of Fountainhead Commercial Capital, a company that provides commercial real estate financing and growth capital for small business 2020年9月22日 COLAR (COLAR) with bank fraud, in violation of Title 18, United States Code, 2020 and one to Fountainhead Commercial Capital. Cal. Applied with Lendio in January. J. In the face of the crisis of science, it is easy to throw our hands up and watch as the old guard of the scientific establishment circles the wagons and goes back to business as usual. District Court for the Central District of California. Process servers often provide additional legal support services alongside service of process. We specialize in loans backed by commercial real estate, including agency multifamily, investor and bridge as well as SBA 7 (a) business loans. The public may view and listen to the meeting via webcast by clicking the link below. 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Regional water and solid waste rates remain flat, regional wastewater rate to increase WYLIE, TX – September 27, 2021: The North Texas Municipal Water District (NTMWD) Board of Directors has adopted a fiscal year (FY) 2022 budget focused on limiting budget increases while still meeting the essential needs of two million Episode 354 – Solutions: Open Science. S. 1 billion) and Fountainhead Property Trust (a deal worth R14 Additional login assistance is available by calling 1-800-996-7566 Monday - Friday, 7:00 AM - 8:00 PM CT (excluding holidays). 6. Currently used as a UPS logistics center, the property is owned by an entity tied to local concrete contractor W. 2% of capacity retained annually at full depth of discharge over a 20+ year lifespan. Help from a particular business won't Zelle: An international litigation firm. Here is a guide to what’s included in an employment background check, with tips on how you can prepare. Defendant Fountainhead Commercial Capital, LLC (“Defendant” or “FCC”) is a non-bank lender, including for Small Business Administration (“SBA”) loans, and is authorized to conduct and is actually conducting business in the State of California. Equipment for sale from Wells Fargo's equipment inventory.  He is also a "shark" investor on the television series The New Establishment: 2013. Self-financed, aside from a donation of $25,000 from old friend Frank Sinatra, Welles began filming in Mexico in 1957. Purpose of HOA Monthly Fees. 100,000. C. Matthew Greenberg Joins Fountainhead Commercial Capital as General Counsel. § 38a-816. Dixon; People v. Eos. 3rd St. Executive Operations. proposed lawsuits against Lampert and The aim of Roark is to be the preferred capital source for private equity solutions by earning the respect of all those with whom we interact. Oliva as counsel of record for Fountainhead Commercial Capital, LLC for the reason indicated in the G-123 Notice. " Any "undue pressure" on alumni, he was warned, would result in the withdrawal of the $300 offer. If you're buying a business, you know you will need capital. Green; People v. ” “Patent lawsuits, on average, cost about $10 million, take about five years to process, and ultimately inhibit future scientific developments. The nearly 2-acre plot spanning 600-614 Maury St. He will be responsible for supervising all communications Founded in February 2015 and based in Orlando, Florida, Fountainhead is one of only 14 SBA-approved nationwide, nonbank, direct commercial lending firms specializing in funding commercial real estate projects and providing growth financing for small-to-midsize businesses utilizing SBA 7(a), SBA 504, low LTV conventional loans – and most recently PPP loans. 13, 2019 37027 1513 Puryear Place, Brentwood, Brenthaven; Buyer: Morris Welcome Washburn; Seller: Susan Kay and Kevin Ford Poe; $420,000. Rapp Co. 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Fountainhead CEO Chris Hurn Speaks With deBanked About His Experience With 2020 Chris Hurn, the CEO of Fountainhead, a national non-bank direct commercial lender based in Lake Mary-FL, recently told deBanked in an interview what his company has experienced in 2020. fountainhead commercial capital lawsuit
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Each week, Cut the Crap Investing founder Dale Roberts shares financial headlines and offers context for Canadian investors.
The greenification commodities supercycle
While there may be a broader commodities supercycle underway, what appears to be more of a sure thing is the green commodities supercycle. To reach our global net-zero CO2 targets by 2050, and the interim targets for 2030, nations around the world will have to produce a spectacular number of electric vehicles and produce clean energy at a prodigious rate.
It will take an incredible amount of materials (commodities) to build those vehicles and batteries, and to create the amount of clean energy required to meet those goals.
Setting the table for the greenification of the commodities supercycle is this article in the Financial Post. by David Rosenberg, who created an index to track these commodities:
“On the metals/mining front, the World Bank estimates more than 3 billion tons of metals and minerals will be needed for renewable energy infrastructure by 2050 in order to achieve the goals from the Paris Agreement. We include copper, graphite, nickel, lithium and cobalt, since all are essential in the electrification process, the transition from internal combustion engines to electric vehicles, and the building of energy storage technologies—a requirement in the widespread adoption of renewable sources as energy demand and energy supply do not match as easily compared to fossil fuel sources.”
Within that post Rosenberg frames the amount of additional commodities that will be required, citing an International Monetary Fund report. The need for lithium and cobalt are expected to rise by a factor of six; copper demand will increase twofold; the nickel requirements will increase by four times. Much more silver will also be required, but not to the same degree as the aforementioned list.
Most of that increase will occur before 2030, as we do need to get a move on to save the planet for future generations.
The Guardian quotes Mark Lewis, chief sustainability strategist at BNP Paribas Asset Management:
“The next three decades are ‘likely to bring a supercycle in investments in clean energy infrastructure, clean transportation and everything else that is required to make the green transition possible.’ ”
The green investment trend is obvious, and it’s right in front of us. Regular readers of “Making sense of the markets” will know that I like the potential of those undeniable investment trends. It should also be noted there is no sure thing, but I do like the calculated risk here. And certainly, I should offer the obvious: The planet is more important than our investment portfolios.
Many investors will use baskets of commodities as an asset class and part of the portfolio. Commodities are known to be the most reliable and most effective inflation hedge. But the world does change, and we might tilt our portfolio toward future-based trends. That ability to tilt to the future exists in the commodities space.
I hold a materials ETF, plus the Purpose Diversified Real Asset Fund and a U.S. dollar commodities ETF. I hold commodities, but those funds would offer more broad-based exposure. And I do get some green commodities exposure by way of the BATT ETF, whichplays the electric vehicle and battery ecosystem.
I am certainly looking to shade in some greenification commodities exposure. Unfortunately, there is no ETF for that yet.
There is a Canadian ETF that gives exposure to global lithium producers that looks like a very good option: HLIT from Horizons. The fund has impressive gains out of the gate. It was launched in June 2021.
An investor would then have to build their own basket of cobalt stocks, copper stocks, nickel stocks, silver stocks and others.
For research candidates, you might look to this list of copper stocks and this list for nickel.
You may find enough of what you’re looking for in a diversified base metals ETF. Here’s an equal-weight ETF offering from BMO.
If you do find a more environmental-focused commodities fund, please drop a note in the comment section.
And one last kick at the oil can
Mark Lewis, the chief sustainability strategist at BNP Paribas Asset Management, previously mentioned in that Guardian article. With respect to traditional energy, he offered this interesting perspective in The Guardian:
“However, higher fossil fuel prices could also tempt major oil and gas companies to invest in lucrative new projects by inflating the profits of existing portfolios in “one last party” for fossil fuels, he warned.”
That is a wonderful segue to our next topic.
The risks of investing in the Canadian oil stock party
I’ve written that I’m a fan of investing in Canadian oil and gas stocks before. The investment rationale made a lot of sense (to me) over a year ago, and I’m still buying the argument and the energy stocks.
The Canadian oil and gas sector is coming out of a bear market that lasted for several years. And now, over the last year, energy is the best-performing sector. Many might now be drawn to the sector, based on the returns and the momentum. But investors should consider the bull and bear thesis before investing.
The risks are real and considerable.
There’s political risk. Oil and gas is on the wrong side of global sentiment and government policy as we strive to reach net zero emissions by 2050.
Here was an interesting poll I offered on Twitter:
There might be an attempt to tax these companies out of business. Or at least, increasing tax rates could confiscate much of the profits, putting great pressure on stock prices and dividends. Governments will redirect those tax revenues to green energy projects.
That is the general idea behind putting a price on carbon.
Also, the investments necessary for traditional energy companies to shift to greener energy solutions, or employ carbon capture, could be more than sizable. The investments necessary in these green ventures will divert free cash flow away from dividends and share buybacks. They become less profitable.
The Organization of Petroleum Exporting Nations (OPEC) could increase production and drive down oil prices. That was the source of the risk that created or contributed to the energy bear market that began in 2014.
Canada’s oil producers are in competition with the shale oil and gas industry in the U.S. If they ramp up production south of the border, they need less Canadian oil.
We can experience demand destruction due to the economic risk. We saw oil demand fall to a great degree during the early stages of the pandemic. The virus is always the wild card.
(And after writing this column, as if right on cue for Friday morning, I read of Nu, a new variant of great concern. The fear of economic risk began to spread. Stocks are set to open much lower, gold is up, bonds are up, and the price of oil is down by over 12%. U.S. stocks were operating on a half-day due to Thanksgiving in the U.S. And the U.S. market (IVV) closed down 2.3%, Canadian stocks (XIC) were down by about 2.5% mid-day. International stocks (XEF) are also down by over 2%. The Canadian energy index (XEG) was down by 6%. The world and the markets will be watching Nu over the next few days and weeks.)
The economy moves in cycles, so it’s only natural that there will be periods of economic decline. We should always remember that oil and gas and other commodities are cyclical—there can be wild swings along the way.
Eric Nuttall, the manager of the Ninepoint Energy ETF I linked to above, recently addressed many of these risks in a recent article in the Financial Post. Have a read, it’s an interesting argument that in effect, has an answer for those risks. Here’s an excerpt:
“We remain in a multi-year bull market which will lead to all-time high oil prices. With energy stock valuations becoming even more compelling after the recent selloff, trading at average free cash flow yields of 25% at US$70 for [West Texas Intermediate] WTI, I have been adding to beaten up names.”
You should do additional research as well.
I will continue to add to my energy ETFs. Given the risks, I will keep my exposure below 10%. Just as with investing in bitcoin, I will rebalance along the way.
The oil and gas stocks are part of our commodities baskets (referring to mine and my wife’s accounts) and are part of building an all-weather portfolio.
The re-appointment of Jerome Powell to Fed Chair
This week, we saw the potential reappointment of Jerome Powell as Chairman of the Federal Reserve. President Joe Biden announced last Monday that he is renominating Jerome Powell for a second term and will put forth Fed Governor Lael Brainard as vice chairman.
The nomination will head to the Senate for confirmation.
The market likes the consistency and the leadership that was very accommodative during the pandemic. The Federal Reserve recently offered that rates might be rising sooner rather than later, but perhaps the markets trust Powell to not push things too far.
As I wrote in late September, Powell might be the guy to land this plane, thanks to his soft-speak mastery, in terms of how he delivers news about the markets. I called it “hawkish extra light.” (“Hawkish policy or tone tends to focus on controlling inflation as a primary goal of monetary policy,” I wrote.) As much as decisions on interest rate movements are important, so is the messaging from The Fed. The right tone and language can calm markets.
In June 2021, I wrote about the taper tantrum, asking will the stock markets allow central banks to raise rates in 2022? Inflation and monetary policy have been dominant themes in 2021. The year 2022 will deliver the answer on transitory inflation vs. the inflationistas, and if we can increase and normalize rates and borrowing costs without spooking the markets.
As November is drawing to a close, stock markets are trying to eke out some modest gains for the month. At the end of October, I wrote that November and December are historically strong months for the markets.
I’m keeping score and I will report back in January 2022.
Is it the end of the work-from-home party for Zoom?
This week, we saw a continued sell-off in many of the work-from-home stocks. Seeking Alpha reports: These are types of stocks—including Snowflake, CrowdStrike, ServiceNow, Atlassian, HubSpot and Asana—that might benefit from workers conducting their meetings at home via video conferencing.
“Many of those companies are involved in the types of software used to manage services and applications used by remote workers. As some larger companies have begun implementing plans to have workers return to the office in the coming months, concerns have arisen over growth opportunities for their services if there is a significant drop in employees working from home.”
It was Zoom Video Communications (ZM) that set off the march out of those stocks (starting the stock sell-off). On Tuesday the stock price fell by over 16% after their third-quarter earnings release.
Zoom is also down by more than 50% from its highs from October 2020.
As employees are being called back to the office, growth has slowed. It is a safe bet that the future will be hybrid with respect to work-from-home and heading into the office, but that balance is up for debate. And the balance for that hybrid future will affect their earnings results.
From the same Seeking Alpha post, Zoom was also joined on the selloff call by:
“Snowflake (SNOW), CrowdStrike Holdings (CRWD) and ServiceNow (NOW) were among the software stocks caught up in a broad selloff, Tuesday, as several companies in the cloud and data analysis sectors retreated in the wake of big losses from Zoom Video Communications (ZM). ServiceNow (NOW) was off by 3.3%, Atlassian (TEAM) shares shed 4.5%, HubSpot (HUBS) pulled back by 4% and Asana (ASAN) fell by 4.6%.”
I previously looked at the winners and losers in the hybrid future. The continuation of a partial work-from-home economy might contribute to the hollowing out of downtown cores and a reshaping of the real estate sector as well.
This is another interesting theme that I’ve been covering in this column. I will get many more answers in 2022 as we all move to the other side of the pandemic.
These days, though, it’s not working out so well for Zoom investors.
Dale Roberts is a proponent of low-fee investing and he blogs at cutthecrapinvesting.com. Find him on Twitter @67Dodge.
Independent Bank Group NASDAQ: IBTX-Q
SmarTrend identified an Uptrend for Independent Bank (NASDAQ:IBTX) on April 9th, 2020 at $28.68. In approximately 5 months, Independent Bank has returned 59.65% as of today's recent price of $45.78.
In the past 52 weeks, Independent Bank share prices have been bracketed by a low of $20.35 and a high of $63.16 and are now at $45.78, 125% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.3%.
Independent Bank Group, Inc. operates national commercial bank. The Company offers personal and business banking services. Independent Bank operates in Texas.
SmarTrend will continue to scan these moving averages and a number of other proprietary indicators for any shifts in the trajectory of Independent Bank shares.Log in and add Independent Bank (IBTX) to your watchlist today so you can receive a real-time alert when the shares are about to change trend.
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Independent Bank Group, Inc. (IBTX)
NASDAQ: IBTX · IEX Real-Time Price · USD
Nov 26, 2021 1:00 PM EST - Market closed
|Net Income (ttm)||228.84M|
|Ex-Dividend Date||Nov 9, 2021|
|Day's Range||69.58 - 73.07|
|52-Week Range||55.92 - 80.71|
|Price Target||79.00 (+12.0%)|