ALR Technologies
The medical device company filed an information statement sent to stockholders regarding an approved increase in the number of authorized shares of common stock from 500 million to 2 billion shares, at a value of $0.001 per share.
Apple REIT
The hotel-focused real estate investment trust announced it has been authorized to list its common shares through a public offering. Trading of common shares on the New York Stock Exchange is expected to start on or about May 18 under the ticker symbol “APLE.”
In anticipation of the offering, the company filed a presentation that highlights certain details of the listing. The presentation can be viewed here.
The company plans to implement a 50 percent reverse share split of its common shares and commence a modified “Dutch Auction” tender offer to purchase up to $200 million of Apple Hospitality’s common shares on or about May 18. The lowest-price offer is anticipated at a range of $19 to $21 per share net to the selling shareholder in cash, less any applicable withholding taxes and without interest. Following the offer, the company would also implement a share buyback program of up to $500 million of its common shares. The timing of the buyback would be based on market conditions and other factors.
The company also reported its first quarter earnings for 2015. Total revenue reached $210 million, up from $137 million in 2014. Total expenses topped $174 million, compared to $227 million the previous year. Net income was $43 million, compared to a previous-year loss of $94 million.
Community Bankers Trust (ESXB)
The parent of Essex Bank filed its 10Q report for its first quarter financial performance. It reported net income of $1.31 million, down from $1.65 million from the first quarter last year. Its total assets were $1.13 billion, up slightly from the same period in 2014 and down from $1.15 billion at year’s end. Its loan portfolio jumped to $734.08 million, up from $654.57 million a year ago. Its deposit base was $915 million as of March 31, an increase from $905.16 million in the first quarter of 2014. Its total nonperforming assets, which includes delinquent loans and foreclosed real estate was $22.54 million, up from $18.08 million.
Cordia Bancorp (BOVA)
The parent of Bank of Virginia filed its first quarter financials, reporting net income of $305,000, compared to a loss of $284,000 in the same period last year. Its total assets reached $324.54 million at quarter’s end, up from $280.25 million a year ago. It had $218.65 million in total loans, up from $203.57. Total deposits reached $265.62 million, an increase from $235.02 million. And its nonperforming assets stood at $3.75 million, down from $4.76 million in the first quarter of 2014.
Dynex Capital (DX)
The mortgage REIT reported a first quarter net loss of $9.4 million, compared to a previous-year loss of $734,000. The full report can be viewed here.
First Capital Bancorp (FCVA)
Andrew Ferguson, a senior vice president, sold a total of 3,667 shares at an average of $4.40 per share for a total sale of $16,000.
Genworth Financial (GNW)
The insurance company announced it has sold 92.3 million shares in Genworth Mortgage Insurance Australia Ltd. at $3.08 per share, representing 14.2 percent of Genworth Australia. The company said the sale is being conducted via a fully underwritten sell down to equity market investors and will leave it with an approximate 52 percent stake in Genworth Australia on completion. The company will hold 337.7 million shares.
MeadWestvaco (MWV)
The packaging giant reported its first quarter earnings for 2015. Net sales totaled $1.28 billion, down from $1.32 billion the first quarter last year. General expenses totaled $1.04 billion, compared with $1.07 billion the same time last year. Net income was $33 million, up from $31 million in the first quarter of 2014.
The company also filed financial statements related to its pending merger with Rock-Tenn Co.
Media General (MEG)
The company reported its first quarter earnings for 2015. Net revenues increased 106 percent to $297 million, up from $144 million the first quarter of 2014.
Union Bankshares (UBSH)
Beverley Dalton, a director, acquired 1,346 shares at $16.23 each for a total $21,845.
The Union Bank parent company reported its first quarter financials with net income of $15.7 million, up from $7.7 million in the first quarter of 2014. Its assets, loans and deposits reached $7.38 billion, $5.35 billion and $5.67 billion respectively. Its nonperforming assets stood at $42.81 million.
Xenith Bankshares
The parent of Xenith Bank reported its first quarter earnings with net income of $900,000, up from $234,000 in the same period of 2014. Its total assets were $992.73 million at quarter’s end. Loans reached $750.95 million. Total deposits were $843.39 million. Its nonperforming assets finished the quarter at $8.92 million, up from $8.51 million.
ALR Technologies
The medical device company filed an information statement sent to stockholders regarding an approved increase in the number of authorized shares of common stock from 500 million to 2 billion shares, at a value of $0.001 per share.
Apple REIT
The hotel-focused real estate investment trust announced it has been authorized to list its common shares through a public offering. Trading of common shares on the New York Stock Exchange is expected to start on or about May 18 under the ticker symbol “APLE.”
In anticipation of the offering, the company filed a presentation that highlights certain details of the listing. The presentation can be viewed here.
The company plans to implement a 50 percent reverse share split of its common shares and commence a modified “Dutch Auction” tender offer to purchase up to $200 million of Apple Hospitality’s common shares on or about May 18. The lowest-price offer is anticipated at a range of $19 to $21 per share net to the selling shareholder in cash, less any applicable withholding taxes and without interest. Following the offer, the company would also implement a share buyback program of up to $500 million of its common shares. The timing of the buyback would be based on market conditions and other factors.
The company also reported its first quarter earnings for 2015. Total revenue reached $210 million, up from $137 million in 2014. Total expenses topped $174 million, compared to $227 million the previous year. Net income was $43 million, compared to a previous-year loss of $94 million.
Community Bankers Trust (ESXB)
The parent of Essex Bank filed its 10Q report for its first quarter financial performance. It reported net income of $1.31 million, down from $1.65 million from the first quarter last year. Its total assets were $1.13 billion, up slightly from the same period in 2014 and down from $1.15 billion at year’s end. Its loan portfolio jumped to $734.08 million, up from $654.57 million a year ago. Its deposit base was $915 million as of March 31, an increase from $905.16 million in the first quarter of 2014. Its total nonperforming assets, which includes delinquent loans and foreclosed real estate was $22.54 million, up from $18.08 million.
Cordia Bancorp (BOVA)
The parent of Bank of Virginia filed its first quarter financials, reporting net income of $305,000, compared to a loss of $284,000 in the same period last year. Its total assets reached $324.54 million at quarter’s end, up from $280.25 million a year ago. It had $218.65 million in total loans, up from $203.57. Total deposits reached $265.62 million, an increase from $235.02 million. And its nonperforming assets stood at $3.75 million, down from $4.76 million in the first quarter of 2014.
Dynex Capital (DX)
The mortgage REIT reported a first quarter net loss of $9.4 million, compared to a previous-year loss of $734,000. The full report can be viewed here.
First Capital Bancorp (FCVA)
Andrew Ferguson, a senior vice president, sold a total of 3,667 shares at an average of $4.40 per share for a total sale of $16,000.
Genworth Financial (GNW)
The insurance company announced it has sold 92.3 million shares in Genworth Mortgage Insurance Australia Ltd. at $3.08 per share, representing 14.2 percent of Genworth Australia. The company said the sale is being conducted via a fully underwritten sell down to equity market investors and will leave it with an approximate 52 percent stake in Genworth Australia on completion. The company will hold 337.7 million shares.
MeadWestvaco (MWV)
The packaging giant reported its first quarter earnings for 2015. Net sales totaled $1.28 billion, down from $1.32 billion the first quarter last year. General expenses totaled $1.04 billion, compared with $1.07 billion the same time last year. Net income was $33 million, up from $31 million in the first quarter of 2014.
The company also filed financial statements related to its pending merger with Rock-Tenn Co.
Media General (MEG)
The company reported its first quarter earnings for 2015. Net revenues increased 106 percent to $297 million, up from $144 million the first quarter of 2014.
Union Bankshares (UBSH)
Beverley Dalton, a director, acquired 1,346 shares at $16.23 each for a total $21,845.
The Union Bank parent company reported its first quarter financials with net income of $15.7 million, up from $7.7 million in the first quarter of 2014. Its assets, loans and deposits reached $7.38 billion, $5.35 billion and $5.67 billion respectively. Its nonperforming assets stood at $42.81 million.
Xenith Bankshares
The parent of Xenith Bank reported its first quarter earnings with net income of $900,000, up from $234,000 in the same period of 2014. Its total assets were $992.73 million at quarter’s end. Loans reached $750.95 million. Total deposits were $843.39 million. Its nonperforming assets finished the quarter at $8.92 million, up from $8.51 million.