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New Year, New City? Workers And Managers Reveal Relocation Plans Amid Pandemic

— 51% of professionals would consider relocating, but only 25% would be willing to take a pay cut to do so, Robert Half research shows

— Nearly 4 in 10 companies are allowing workers to make a permanent move

— Robert Half details 3 workplace trends for 2021 and beyond

PR Newswire

MENLO PARK, Calif., Jan. 21, 2021 /PRNewswire/ — A new study by global staffing firm Robert Half shows relocation is a big consideration for professionals and employers right now. More than half of workers surveyed (51%) said they would consider moving to a different city if their company offered long-term remote arrangements, and another 4% have already made a move. A separate poll of human resources (HR) managers suggests many companies are open to the idea of an anywhere workforce: 50% of respondents reported their organization has allowed current staff to relocate temporarily, and another 38% noted their employer was supportive of permanent moves.

View an infographic of the research highlights.

Why Workers Want to Relocate
While the motivation to relocate may vary, common reasons cited by workers include a change of scenery (37%) and lower cost of living (22%). However, the research shows salary remains a priority for most professionals: 75% would not be willing to take a pay cut in their current job if they were to move.

“Pre-pandemic, job location was a big factor in where people chose to live,” said Paul McDonald, senior executive director at Robert Half. “As many employees continue to work from home successfully, they’re considering how a move might improve their quality of life, particularly if they can keep their current salary.”

How Employers Are Addressing Pay
As employees set sights on moving to a new city, companies are having to reconsider how they approach pay. HR managers said they will determine salary for current staff who choose to relocate by:

  • The company’s office location: 74%
  • The employee’s new location: 23%
  • A decision hasn’t been made: 3%

McDonald noted, “While some employees are making temporary moves, the anywhere workforce is here to stay. Adopting a flexible mindset will be critical for companies and professionals who want to thrive in a highly dynamic business environment.”

Robert Half identifies three staffing trends driven by the rise of the dispersed workforce:

  1. The talent pool will become an ocean. As organizations increasingly adopt a remote-first approach, they’re realizing the value of recruiting outside their city. Hiring managers can avoid wading through a flood of resumes and gain direct access to top candidates by partnering with a staffing firm.
  2. Investments are shifting. Companies are channeling more budget into technology that supports secure remote work and seamless collaboration, as well as employee health and well-being programs and benefits.
  3. Effective onboarding and offboarding are critical. While virtual onboarding has already replaced the in-person orientation process at many organizations, employers also need to reimagine how they handle employee exits from a distance.

About the Research
The online surveys were developed by Robert Half and conducted by independent research firms from October 27 to December 18, 2020. They include responses from more than 1,000 workers 18 years of age or older and more than 1,000 human resources managers at companies in 28 major U.S. cities with 20 or more employees.

About Robert Half
Founded in 1948, Robert Half is the world’s first and largest specialized staffing firm. The company has more than 300 staffing locations worldwide and offers hiring and job search services at roberthalf.com. For additional management and career advice, visit the Robert Half blog at roberthalf.com/blog.

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SOURCE Robert Half

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Helios Technologies to Open the Helios Center of Engineering Excellence with Acquisition of BJN Technologies

Helios Technologies to Open the Helios Center of Engineering Excellence with Acquisition of BJN Technologies

  • Acquisition enables technology to be leveraged across the enterprise to increase penetration of existing Helios end markets and expand to new industrial end markets
  • New appointments announced to manage the Helios Center of Engineering Excellence

SARASOTA, Fla.–(BUSINESS WIRE)–Helios Technologies (Nasdaq: HLIO) (“Helios” or the “Company”), a global leader in highly engineered motion control and electronic controls technology for diverse end markets, announced today that it has acquired substantially all of the assets of BJN Technologies, LLC (“BJN”), an innovative engineering solutions provider. With the acquisition, Helios has formed its Center of Engineering Excellence (HCEE) to augment and coordinate Helios’s technology advancements and new product development and better leverage existing talents with the acquired capabilities of BJN. Helios funded the acquisition through a combination of cash and equity.

“The acquisition of BJN and establishment of our Center of Engineering Excellence greatly enhances our ability to integrate complementary technology across the company. The capabilities and experience of the BJN team allows us to further advance our Vision 2025 strategy by executing on the value streams focused on product and technology expansion and market diversification. We are confident in the team’s engineering capability and, in fact, have been working with them for several years,” commented Josef Matosevic, the Company’s President and Chief Executive Officer. “Combined with our recent addition of Balboa’s complementary technology to our Electronics solutions, this acquisition enables us to strategically expand our product portfolio in existing and new end markets first in the electronics segment and then throughout all of Helios. We welcome the BJN team to the Helios family and are excited about the opportunities ahead.”

BJN is an employee-owned innovative engineering solutions provider that was founded in 2014. It provides customized turnkey solutions encompassing embedded software, wireless electronics and manufacturing in the defense, motion control and manufacturing industries, and has been an engineering service provider to Helios for several years. Headquartered in San Antonio, TX, BJN employs approximately 15 engineers and technical staff. Terms of the acquisition were not disclosed.

The leadership team from BJN has joined Helios and will run the day to day operations of the HCEE. Doug Conyers, who served as BJN’s CEO, has been named Vice President, HCEE. The founders of BJN, the Kaufmann brothers, have additionally joined the HCEE leadership team. Jonathan Kaufmann has been named Chief Engineer, Design, Benjamin Kaufmann has been named Chief Engineer, R&D and Nicholas Kaufmann has been named Chief Engineer, Innovation. These four leaders bring over 70 years of combined professional experience to Helios in the engineering disciplines of electrical and software systems, simulation, embedded circuitry, and mechanical and testing design.

The Helios Center of Engineering Excellence will report to Rick Martich, who was recently appointed Senior Vice President of Global Manufacturing Operations for Helios. He has over 25-years of leadership experience in engineering, manufacturing, finance and sales.

About Helios Technologies

Helios Technologies is a global leader in highly engineered motion control and electronic controls technology for diverse end markets, including construction, material handling, agriculture, energy, recreational vehicles, marine, health and wellness. Helios sells its products to customers in over 85 countries around the world. Its strategy for growth is to be the leading provider in niche markets, with premier products and solutions through innovative product development and acquisition. The company has paid a cash dividend to its shareholders every quarter since becoming a public company in 1997. For more information please visit: www.heliostechnologies.com.

Forward Looking Information

This news release contains “forward‐looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934. Forward‐looking statements involve risks and uncertainties, and actual results may differ materially from those expressed or implied by such statements. They include statements regarding current expectations, estimates, forecasts, projections, our beliefs, management’s plans, projections and objectives for future operations, scale and performance, integration plans and expected synergies therefrom, the timing of completion of the proposed transaction, and assumptions made by Helios Technologies, Inc. (“Helios” or the “Company”), its directors or its officers about the Company and the industry in which it operates, and assumptions made by management, and include among other items, (i) the Company’s strategies regarding growth, including the expected benefits of the Acquisition; (ii) the timing of completion of the Acquisition; (iii) Company’s financing plans with respective to the funding of the Acquisition; and; (iv) objectives for future operations, integration plans and expected synergies. Words such as “may,” “expects,” “projects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” variations of such words, and similar expressions are intended to identify such forward-looking statements. Similarly, statements that describe our future plans, objectives or goals also are forward-looking statements. These statements are not guaranteeing future performance and are subject to a number of risks and uncertainties. Our actual results may differ materially from what is expressed or forecasted in such forward-looking statements, and undue reliance should not be placed on such statements. All forward-looking statements are made as of the date hereof, and we undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

Factors that could cause the actual results to differ materially from what is expressed or forecasted in such forward‐looking statements include, but are not limited to, failure to promptly and effectively integrate the Acquisition; objectives for future operations, integration plans and expected synergies; the ability to recognize the anticipated benefits of the Acquisition, which may be affected by, among other things, competition, and the ability of the combined business to grow and manage growth profitably; failure to promptly and effectively integrate the Acquisition; risks related to disruption of management time from ongoing business operations due to the Acquisition; and the ability of Helios to retain and hire key personnel, and maintain relationships with suppliers. Further information relating to factors that could cause actual results to differ from those anticipated is included but not limited to information under the heading Item 1. “Business” and Item 1A. “Risk Factors” in the Company’s Form 10-K for the year ended December 28, 2019 and Part II, Item IA, “Risk Factors” in the Company’s Form 10-Q for the quarter ended March 28, 2020 and other filings with the Securities and Exchange Commission.

Tania Almond

VP, Investor Relations & Corporate Communications

(941) 362-1333

[email protected]

Deborah Pawlowski

Kei Advisors LLC

(716) 843-3908

[email protected]

KEYWORDS: Florida United States North America

INDUSTRY KEYWORDS: Hardware Manufacturing Other Manufacturing Technology Engineering

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Beverly Knight Children’s Hospital Keeps Parents and Babies Connected with Vocera Ease

Beverly Knight Children’s Hospital Keeps Parents and Babies Connected with Vocera Ease

Pampers Bright Beginnings NICU Connectivity Grant awarded to fund meaningful communication at Navicent Health

SAN JOSE, Calif.–(BUSINESS WIRE)–Vocera Communications, Inc. (NYSE:VCRA), a recognized leader in clinical communication and workflow solutions, today announced that Beverly Knight Children’s Hospital,Navicent Health deployed the Vocera Ease application in its neonatal intensive care unit (NNICU) to help parents, grandparents, and loved ones feel closer to their newest family members when they are apart. Teammates from the hospital’s NNICU applied for a Pampers Bright Beginnings NICU Connectivity Grant to implement Vocera Ease, which enables nurses, doctors, and other care team members to send secure texts and photo to infants’ loved ones in real time.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210121005224/en/

“At Pampers, we exist to support babies and their loved ones, and that includes keeping them connected when it matters most,” said Sarah Pasquinucci, Senior Communications Director, P&G North America Baby Care, and mother of two. “Our Pampers Bright Beginnings NICU Connectivity Grants enable further connectivity solutions, such as cameras and tablets, which allow parents and loved ones to talk, read and sing to their littlest fighters, even when they cannot physically be together. We are thrilled to support Beverly Knight Children’s Hospital asNavicent Healthcontinues to implement innovative technologies to enhance team communication and support the happy, healthy development of babies in their NNICU.”

The 66-bed NNICU at Beverly Knight Children’s Hospitalcares for more than 700 infants each year from 29 surrounding counties in central and south Georgia. Loved ones who receive real-time Ease updates can respond with thumbs up, heart, or prayer hands emojis to show support to care team members. The secure messages and pictures disappear 60 seconds after being viewed, and nothing is saved on the mobile device, providing an additional layer of security and privacy.

“Having a little one in the NICU can be very difficult for families, especially when parents are trying to balance work and care for other children. The Ease app will allow us to remain in consistent contact with families. Even when they cannot be at the bedside, they can see their little one and receive real time updates. We are thrilled to implement this program, and we are grateful to Pampers for making this possible,” said Missi Upshaw, Pediatric and Women’s Service Line Director for Beverly Knight Olson Children’s Hospital, Navicent Health.

The mobile solution connects families and loved ones, no matter where they are, and helps support limited visitor policies and safety protocols. Additionally, the hospital can track family satisfaction using the customizable in-app survey, which allows Ease users to provide real-time feedback about their hospital experience.

In its first week, Ease app users from across Georgia and 10 other states received 290 text messages and 257 photos. In response to these updates, patients’ parents and loved ones sent 543 emojis. During this same timeframe, users rated their app experience 9.9 out of a possible 10.

“Beverly Knight Children’s Hospital is making a difference in the lives of parents, grandparents, and other family members and friends by providing comfort when it is needed most,” said Patrick de la Roza, Senior Vice President and General Manager, Vocera EASE business unit. “We are proud to support Navicent Health as it always puts patients and families first.”

About Navicent Health

Navicent Health, the leading provider of healthcare in central and south Georgia, is committed to its mission of elevating health and wellbeing through compassionate care. Providing more than 1,000 beds and offering care in 53 specialties at more than 50 facilities throughout the region, Navicent Health provides care for healthcare consumers’ through an academic medical center; community, pediatric and rehabilitation hospitals; urgent care centers; physician practices; diagnostic centers; home health; hospice and palliative care; and a life plan community. Navicent Health is dedicated to enhancing health and wellness for individuals throughout the region through nationally-recognized quality care, community health initiatives and collaborative partnerships. For more information, please visit www.navicenthealth.org.

About Vocera

The mission of Vocera Communications, Inc. is to simplify and improve the lives of healthcare professionals, patients, and families while enabling hospitals to enhance quality of care and operational efficiency and humanize the healthcare experience. In 2000, when the company was founded, we began to forever change the way care teams communicate. Today, Vocera offers the leading platform for improving clinical communication and workflow. More than 2,100 facilities worldwide, including nearly 1,700 hospitals and healthcare facilities, have selected our solutions. Care team members use our solutions to communicate and collaborate with co-workers by securely texting or calling, and to be notified of important alerts and alarms. They can choose the right device for their role or task, including smartphones or our hands-free, wearable Vocera Smartbadge and Vocera Badge. They can create a richer, more human connection for patients and their loved ones before, during, and after care using Vocera Ease applications. Interoperability between the Vocera Platform and more than 150 clinical and operational systems helps reduce alarm fatigue; speed up staff response times; and improve patient care, safety, and experience. In addition to healthcare, Vocera solutions are found in luxury hotels, aged care facilities, retail stores, schools, power facilities, libraries, and more. Vocera solutions make mobile workers safer and more effective by enabling them to connect instantly with other people and access resources or information quickly. Vocera has made the list of Forbes 100 Most Trustworthy Companies in America, and the Vocera Smartbadge was named to TIME’s list of the 100 Best Inventions of 2020. Learn more at www.vocera.com, and follow @VoceraComm and @VoceraEase on Twitter.

Vocera® and the Vocera logo are trademarks of Vocera Communications, Inc. registered in the United States and other jurisdictions. All other trademarks appearing in this release are the property of their respective owners.

Shanna Hearon

Vocera Communications, Inc.

669-999-3368

[email protected]

Megan Allen

Navicent Health

478-550-4380

[email protected]

KEYWORDS: California Georgia United States North America

INDUSTRY KEYWORDS: Hospitals Health Mobile/Wireless Technology Telecommunications

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Devo Adds Security Industry Trailblazer Ted Julian to Accelerate Product Innovation

Former IBM executive and serial entrepreneur joins Devo as it continues to set records for revenue and customer growth, pursuing aggressive goals for 2021 and beyond

CAMBRIDGE, Mass., Jan. 21, 2021 (GLOBE NEWSWIRE) — Devo Technology, the cloud-native logging and security analytics company, today announced the addition of security industry veteran and serial entrepreneur Ted Julian to its rapidly expanding roster of elite executive talent. Julian joins as senior vice president of product to drive platform expansion and innovation and build on Devo’s massive competitive differentiation in cloud-native security. He brings an unparalleled track record of driving rapid expansion and highly successful exits, which will further propel Devo’s growth on its path toward an IPO.

“Devo experienced 90% revenue growth in 2020 and has quickly become a major disruptor in the marketplace. Ted’s strength driving disruptive technologies makes him the ideal addition to the Devo team,” said Marc van Zadelhoff, CEO of Devo. “Constant innovation and high-performance execution is powering our growth trajectory, and Ted’s proven expertise will accelerate this pace. This is my second opportunity to work with Ted at a hyper-growth security company and I couldn’t be happier he’s joined us.”

The Devo logging and security analytics platform is in high demand with customers. Devo doubled its customer base in 2020, and in Q4, added new multibillion-dollar organizations to its roster including Ulta Beauty and International Game Technology (IGT).

Julian started his career as the first industry analyst dedicated full time to covering the security sector at IDC and then Forrester. His prolific career includes creating some of the security industry’s most groundbreaking companies—from security consulting, to DDoS protection, to database security, and incident response and orchestration. All were leaders in their respective markets, and their alumni have gone on to further shape the industry. Most recently, Julian was cofounder of Resilient Systems, developer of the first security orchestration automation and response (SOAR) platform, which was purchased by IBM Security. Previously, he was a senior executive at Application Security, Inc. (acquired by Trustwave), and cofounded and was on the executive teams of Arbor Networks (acquired by Danaher) and @Stake (acquired by Symantec).

“Security analytics was already ripe for disruption, given the transition to cloud and exploding data volumes. The pandemic has accelerated these forces, straining legacy players and technologies beyond the breaking point,” said Julian. “Devo is the classic 10x disruptive technology that shakes markets—there’s an urgent need to provide customers with the speed, scale, and clarity that allows them to confidently gain the full potential of their data without the risk/cost trade-offs of legacy approaches. With a huge market opportunity, marquee customers and cloud-native technology, Devo has all the necessary attributes to redefine the industry.”

About Devo

Devo, the cloud-native logging and security analytics company, enables security and operations teams to realize the full potential of all their data to empower bold, confident action when it matters most. Only the Devo platform delivers the powerful combination of real-time visibility, high-performance analytics, scalability, multitenancy, and low TCO crucial for monitoring and securing business operations as enterprises accelerate their shift to the cloud. Headquartered in Cambridge, Mass., Devo is backed by Insight Partners, Georgian, and Bessemer Venture Partners. Learn more at www.devo.com.

PR Contacts:  
Devo Technology CHEN PR for Devo
Shannon Todesca Jennifer Torode

[email protected]

[email protected]
+1 (781) 797-0898 +1 (781) 672-3119

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b0de4b5b-bcdc-4c57-ac83-483e93cbef1b

 



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Nightfood CEO and Largest Shareholder Sean Folkson Extends Existing Lock-Up Agreement Additional Twelve Months, Into February 2022

TARRYTOWN, NY, Jan. 21, 2021 (GLOBE NEWSWIRE) — via NewMediaWire — Nightfood, Inc. (OTCQB: NGTF), the company pioneering the category of “sleep-friendly” nutrition and snacking, today announced that founder and CEO Sean Folkson has extended his existing lock-up agreement for an additional twelve months.

This information was first made public via an 8K filing on Wednesday, January 20, 2021.

Folkson has not disposed of any shares in any way since November of 2015.  He has increased his position during that time by purchasing 400,000 shares through the exercise of warrants at a $.30 strike price, as well as through recent purchasing of shares in the open market. 

Folkson’s previous Lock-Up Agreement was set to expire On February 4, 2021.  That agreement has now been extended an additional twelve months, through February 4, 2022.  In exchange, Folkson was issued warrants for NGTF common stock with a strike price of $.30 and a term of one year.  Should Folkson not exercise the warrants on or prior to February 4, 2022, they will expire.

Folkson commented, “I look forward to the opportunity to exercise these warrants at their $.30 strike price during the next twelve months to increase my share position while remaining aligned with the best interests of all Nightfood shareholders.  We’re on the cusp of significant milestones, and I have no intention of selling a single share until we’ve achieved our goal.  That means pioneering and leading this new consumer category so people can snack better and sleep better every night.  We believe having a formal Lock Up Agreement in place inspires greater shareholder confidence in our vision for both the short and long-term prospects of the Company, as well it should.”

Nightfood’s award-winning sleep-friendly ice cream is currently available in over 800 supermarkets, including divisions of Kroger, Albertsons and H-E-B.  More distribution and strategic partnerships are expected to be announced shortly. 

In addition to the $.30 warrants issued as part of this Lock-Up Agreement, Folkson recently agreed to a new Consulting Agreement and compensation package with the company effective January 1, 2021. 

The new compensation structure consists of a $6,000 monthly consulting fee as Folkson’s only cash compensation.  In addition, the new twelve month consulting agreement contains bonus warrants with strike prices of $.50 and $1.00.  Those bonus warrants would only be earned when the Company achieves certain revenue targets (such as the first million-dollar revenue quarter) and other strategic milestones during 2022 which Management believes would increase shareholder value.

Folkson’s new consulting agreement went into effect on January 1, 2021, and was made public via an 8-K filing on December 22, 2020. 

About Nightfood Holdings:

Nightfood Holdings, Inc. (OTC: NGTF), owns Nightfood, Inc. and MJ Munchies, Inc. 

Nightfood has expanded distribution for its ice cream into major divisions of the largest supermarket chains in the United States: Kroger (Harris Teeter), Albertsons Companies (Jewel-Osco and Shaw’s and Star Markets), and H-E-B (Central Market) as well as Lowe’s Foods, Rouses Markets, and other independent retailers. 

Nightfood won the 2019 Product of the Year award in the ice cream category in a Kantar survey of over 40,000 consumers. Nightfood was also named Best New Ice Cream in the 2019 World Dairy Innovation Awards.

Nightfood has been endorsed as the Official Ice Cream of the American Pregnancy Association and is the recommended ice cream for pregnant women.  There are approximately 3,000,000 pregnant women in the United States at any given time, and ice cream is the single most-widely reported pregnancy craving.  With more calcium, magnesium, zinc, prebiotic fiber, and casein protein, less sugar and a lower glycemic profile than regular ice cream, Nightfood has been identified as a better choice for expectant mothers.

Nightfood is not just for pregnant women.  Over 80% of Americans snack regularly at night, resulting in an estimated 700M+ nighttime snack occasions weekly, and an annual spend on night snacks of over $50 billion dollars, the majority of it on options that are understood to be both unhealthy, and disruptive to sleep quality.  

Nightfood was formulated by sleep and nutrition experts with ingredients that research suggests can support nighttime relaxation and better sleep quality.  Scientific research indicates unhealthy nighttime cravings are driven by human biology.  Willpower is also weakest at night, and stress is another contributing factor.  A majority of night snackers report feeling both guilty and out-of-control when it comes to their nighttime snacking.

Because unhealthy night snacking is believed to be biologically driven, and not a trend or a fad, management sees significant opportunity in pioneering the category of nighttime-specific snacks for better sleep. 

MJ Munchies, Inc. was formed in 2018 as a new, wholly owned subsidiary of Nightfood Holdings, Inc. to capitalize on legally compliant opportunities in the CBD and marijuana edibles and related spaces.  The Company is seeking licensing opportunities to market such products under the brand name “Half-Baked”, for which they’ve successfully secured trademark rights.  

Questions can be directed to [email protected]

Management also encourages Nightfood shareholders to connect with the Company via these methods:

E-mail: By signing up at ir.nightfood.com, investors can receive updates of filings and news releases in their inbox.

Telegram: There is now a live, interactive Telegram group which interested parties can join to reach team members and discuss Nightfood. Ask questions, learn more about the company and discuss future prospects. Join the Telegram Group Here: https://t.me/NightfoodHoldings

YouTube: The company has established a new YouTube series which will feature weekly videos with team members, insights into latest industry developments, and provide a behind the scenes look at the latest company developments.  Click here to subscribe to Nightfood’s YouTube channel.

Forward-Looking Statements: 

This current press release contains “forward-looking statements,” as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, any products sold or cash flow from operations. 

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with distribution and difficulties associated with obtaining financing on acceptable terms. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

Media Contact:

Tim Sullivan
[email protected]
732-816-0239

Investor Contact:
Stuart Smith
[email protected]
888-888-6444, x3

 

 



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Sapiens Wins Two Celent XCelent Awards in the Life Illustration Systems Category in North America

Sapiens IllustrationPro wins XCelent Awards for Both Advanced Technology and Breadth of Functionality

PR Newswire

HOLON, Israel, Jan. 21, 2021 /PRNewswire/ — Sapiens Americas, a wholly owned subsidiary of Sapiens International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, announced today that Sapiens IllustrationPro has won Celent’s XCelent awards for both the Advanced Technology and Breadth of Functionality categories. This recognition follows the recent win of Sapiens UnderwritingPro for Life & Annuities in the Breadth of Functionality category for New Business and Underwriting Systems, North America.

Sapiens logo

“Sapiens has made significant investments in IllustrationPro, culminating in a product with robust functionality and efficient usability,” wrote Celent analyst Keith Raymond in the report. “Sapiens IllustrationPro v5, released in September 2020, includes a full UI/UX technology refresh, providing a completely new and satisfying user experience. The technology upgrade and product enhancements also provide a fully responsive UI. This latest release is Sapiens’ first phase of a multiphase road map to bring additional digital features and functions.”  

Sapiens IllustrationPro for Life & Annuities is a cloud-based, point-of-sale illustration and quoting solution, offering a fully responsive, modern and intuitive user experience for both the life and annuities as well as health markets. ACORD®-compliant, it offers straight-through processing, from point-of-sale to application e-submission and is supported by a needs analysis suite. IllustrationPro’s calculation engine handles complex product illustrations and multichannel distribution, enabling carriers to serve multiple marketing segments with a single deployment. 

Research and advisory firm Celent analyzed 10 illustration systems and determined awards based on the Celent ABCD Vendor View, a resource for identifying premier technology solutions serving the insurance and financial industries. “The effect of the pandemic has resulted in insurers looking to accelerate full automation of their sales tools due to the new virtual work force and customer base. Celent expects the need for acceleration will move many digital sales–oriented investments to the top of a life insurer’s investment list for 2021. When considering this new highly virtualized world, investments in sales technology such as illustrations need to be smart, with a goal of maximizing virtualization, agent/customer experience and value,” said Keith Raymond.

“We are honored to receive two XCelent awards,” said Roni Al-Dor, Sapiens president and CEO. “We are committed to providing innovative technology with cutting edge capabilities for the life insurance industry and empowering our customers with the most modern and functionally rich solutions. We appreciate Celent’s industry leading, in-depth research, which enables Sapiens to better understand insurers’ top priorities and challenges.”

To download the report, click here.

About Sapiens

Sapiens International Corporation empowers insurers to succeed in an evolving industry. The company offers digital software platforms, solutions and services for the property and casualty, life, pension and annuity, reinsurance, financial and compliance, workers’ compensation and financial markets. With more than 35 years of experience delivering to more than 550 organizations globally, Sapiens has a proven ability to satisfy customers’ core, data and digital requirements. For more information: www.sapiens.com.

Media Contact

Alex Zukerman

CMO and Chief of Strategy, Sapiens
+972 546 724 910
[email protected]

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SOURCE Sapiens International Corporation

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Harborside Inc. Announces Plaintiff’s Voluntary Dismissal of Class Action Suit Without Prejudice

PR Newswire

OAKLAND, CA and TORONTO, Jan. 21, 2021 /PRNewswire/ – Harborside Inc. (“Harborside”, or the “Company”) (CSE: HBOR), (OTCQX: HBORF), a California-focused, vertically-integrated cannabis enterprise, today announced that a complaint filed on October 13, 2020, with the United States District Court, District of Oregon (“the Court”), Case No. 3:20-cv-01551-MO, has been voluntarily dismissed in its entirety without prejudice.

The plaintiffs in this action had alleged violations of the U.S. Securities Exchange Act of 1934, more specifically alleging that the Company issued materially false and misleading statements during the class period. The plaintiff voluntarily dismissed, without prejudice, the above-captioned action against all defendants.

For the latest news, activities, and media coverage, please visit the Harborside corporate website at http://www.investharborside.com or connect with us on LinkedIn, Facebook, and Twitter.

About Harborside:

Harborside Inc. is one of the oldest and most respected cannabis retailers in California, operating three of the major dispensaries in the San Francisco Bay Area, a dispensary in the Palm Springs area outfitted with Southern California’s only cannabis drive-thru window, a dispensary in Oregon and a cultivation/production facility in Salinas, California. Harborside has played an instrumental role in making cannabis safe and accessible to a broad and diverse community of California consumers. In 2006, Harborside was awarded one of the first six medical cannabis licenses granted in the United States and today holds cannabis licenses for retail, distribution, cultivation, nursery and manufacturing. Harborside is currently a publicly listed company on the CSE trading under the ticker symbol “HBOR”. Additional information regarding Harborside is available under Harborside’s SEDAR profile at www.sedar.com.


The Canadian Securities Exchange (“CSE”) has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

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SOURCE Harborside Inc.

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MainStreet Bancshares, Inc. Reports Record Earnings

PR Newswire

FAIRFAX, Va., Jan. 21, 2021 /PRNewswire/ — MainStreet Bancshares, Inc. (Nasdaq: MNSB & MNSBP), the holding company for MainStreet Bank, reported record net income of $15.7 million for 2020, which represents a 10.54% Return on Average Equity (ROAE), a 1.05% Return on Average Assets (ROAA) and $1.85 per share of common stock (basic and diluted).

The strong year-end results can be attributed to the Bank’s breakneck performance in response to the pandemic

Net interest income and noninterest income for the year-ended December 31, 2020 increased to $45.9 million and $7.5 million, respectively. Net interest income and noninterest income for the year-ended December 31, 2020 increased 16.5% and 54%, respectively, over the same period in 2019.  The Company realized $2.6 million of the $5.8 million recognized as fee income from the Paycheck Protection Program (PPP) during the year. 

Total assets were $1.6 billion, an increase of 29% from the previous year-end.  Net loans were $1.3 billion as of December 31, 2020, which included $135 million of the original $173 million in loans related to the PPP (22% were forgiven/repaid during 2020). Asset quality remains strong with non-performing assets and Other Real Estate Owned (OREO) representing only 0.08% of total assets as of December 31, 2020. 

Non-interest-bearing deposits were $371 million, representing 26% of total deposits as of December 31, 2020.  Total deposits as of December 31, 2020 were $1.4 billion, and core deposits represent a healthy 72% of total deposits. 

“The strong year-end results can be attributed to the Bank’s breakneck performance in response to the pandemic, both at the start and throughout the entire year,” said Abdul Hersiburane, President of MainStreet Bank.  “The Bank worked with all borrowers in order to assist, where prudent, with providing meaningful liquidity through the Paycheck Protection Plan, the Main Street Lending Program, payment deferrals and/or shifting to interest-only payments for a period.” 

With the hospitality industry being most hard-hit, the team worked closely throughout the year with the 14 operating hotels in the Bank’s portfolio.  Since April 2020, monthly Smith Travel Research (STR) reports for the portfolio of hotels showed favorable trends for occupancy.  As of January 2021, all previously reported borrowers with payment deferrals are scheduled to be back to making monthly payments.

The Company analyzed the loan portfolio and made a special pandemic provision to the Allowance for Loan and Lease Losses (ALLL) on June 30, 2020 in the amount of $4.5 million.  That special provision included a $1.76 million loan outstanding for one Commercial & Industrial (C&I) borrower that was immediately and fully impacted by the pandemic, $2.0 million for commercial borrowers with potential liquidity concerns and $760,000 for the indirect auto portfolio.

“At its outset, we didn’t have a good sense of the pandemic’s potential to affect the U.S. Economy or our market,” said Jeff W. Dick, Chairman & CEO of MainStreet Bancshares Inc. and MainStreet Bank.  “As the year progressed, through a combination of federal programs and regulatory easing, our borrower’s collective confidence started to return.  The vaccine approval announcements in December gave confirmation that the end was in sight.  As a result of the significant changes in data and information available, we determined it would be prudent to update our special pandemic loan loss provision.”

The Company released $3.15 million from the Allowance for Loan and Lease Losses at year-end, as recapped in the table below.


Fourth Quarter Changes to the Allowance for Loan and Lease Losses


(000’s)

Beginning Balance September 30, 2020

$14,345

  + Current Year Recovery (1)

1,498

  – Release of Specific Reserve for Repaid Loan

329

  – Release of Pandemic Provision for indirect loans (2)

500

  – Release of Provision for Loans reclassified as Held for Sale (3)

825

  + Provision for Quarter Growth

186

  – Release of Loss Recovery

1,498

Ending Balance December 31, 2020

$12,877

(1)

The Bank recovered $1.498 million of a loan charged-off earlier in the year.

(2)

The indirect loan portfolio losses for the year were less than previous years, so $500,000 was released from the special pandemic provision for indirect loans.

(3)

The Company reclassified approximately $60 million in investor-owned commercial real estate loans as loans held for sale. The loan sale should take place in the first quarter of 2021 and the Company released the associated provision to the ALLL prior to year-end 2020. 

The $2.0 million that was previously allocated to commercial borrowers remains intact for the pandemic provision to the ALLL as of December 31, 2020.

ABOUT MAINSTREET BANK:  MainStreet operates seven branches in Herndon, Fairfax, Fairfax City, McLean, Leesburg, Clarendon, and Washington D.C.  MainStreet Bank has 55,000 free ATMs and a fully integrated online and mobile banking solution.  The Bank is not restricted by a conventional branching system, as it can offer business customers the ability to Put Our Bank in Your Office®. With robust and easy-to-use online business banking technology, MainStreet has “put our bank” in thousands of businesses in the metropolitan area.

MainStreet Bank has a full complement of payment solutions for financial technology companies and has a team ready to create a perfect solution for their needs.

MainStreet Bank has a robust line of business and professional lending products, including government contracting lines of credit, commercial lines and term loans, residential and commercial construction, and commercial real estate.  MainStreet also works with the SBA to offer 7A and 504 lending solutions.  From sophisticated cash management to enhanced mobile banking and instant-issue Debit Cards, MainStreet Bank is always looking for ways to improve our customer’s experience.  

MainStreet Bank was the first community bank in the Washington, DC metropolitan area to offer a full online business banking solution.  MainStreet Bank was also the first bank headquartered in the Commonwealth of Virginia to offer CDARS – a solution that provides multi-million-dollar FDIC insurance.  Further information on the Bank can be obtained by visiting its website at mstreetbank.com.

This release contains forward-looking statements, including our expectations with respect to future events that are subject to various risks and uncertainties. 
The statements contained in this release that are not historical facts are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “could,” “should,” “expect,” “plan,” “project,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “pursuant,” “target,” “continue,” and similar expressions are intended to identify such forward-looking statements. Factors that could cause actual results to differ materially from management’s projections, forecasts, estimates and expectations include: fluctuation in market rates of interest and loan and deposit pricing, adverse changes in the overall national economy as well as adverse economic conditions in our specific market areas, future impacts of the novel coronavirus (COVID-19) outbreak, maintenance and development of well-established and valued client relationships and referral source relationships, and acquisition or loss of key production personnel.

We caution readers that the list of factors above is not exclusive. The forward-looking statements are made as of the date of this release, and we may not undertake steps to update the forward-looking statements to reflect the impact of any circumstances or events that arise after the date the forward-looking statements are made.  In addition, our past results of operations are not necessarily indicative of future performance.

Contact: Jeff W. Dick, Chairman & CEO
(703) 481-4567


UNAUDITED CONSOLIDATED BALANCE SHEET INFORMATION

(In thousands, except share data)


December 31, 2020


September 30, 2020


June 30,


2020


March 31, 2020


December 31, 2019


ASSETS

Cash and cash equivalents

Cash and due from banks

$

75,935

$

102,480

$

55,273

$

62,098

$

53,376

Federal funds sold

31,593

25,074

21,081

10,677

11,468

Total cash and cash equivalents

107,528

127,554

76,354

72,775

64,844

Investment securities available for sale, at fair value

147,414

118,844

91,823

102,191

92,791

Investment securities held to maturity, at carrying value

22,520

23,114

23,843

23,878

23,914

Restricted equity securities, at cost

4,616

4,616

5,041

5,041

6,157

Loans held for sale, at carrying value

57,006

—

—

—

—

Loans, net of allowance for loan losses of $12,877, $14,346, $13,731,
$9,898, and $9,584, respectively

1,230,379

1,279,899

1,259,012

1,059,628

1,030,425

Premises and equipment, net

14,289

14,474

14,416

14,666

14,153

Other real estate owned, net

1,180

1,580

1,175

1,207

1,207

Accrued interest and other receivables

9,604

8,579

7,458

4,809

5,420

Bank owned life insurance

25,341

25,157

24,959

24,761

24,562

Other assets

23,288

26,371

24,786

20,786

13,885


Total Assets

$

1,643,165

$

1,630,188

$

1,528,867

$

1,329,742

$

1,277,358


LIABILITIES AND STOCKHOLDERS’ EQUITY


Liabilities:

Non-interest bearing deposits

$

370,497

$

416,648

$

388,104

$

240,979

$

252,707

Interest bearing DDA deposits

70,307

72,807

18,266

16,846

53,707

Savings and NOW deposits

74,099

69,015

65,876

60,454

63,015

Money market deposits

426,600

348,146

332,246

265,443

141,337

Time deposits

496,743

510,429

537,840

559,489

560,857

Total deposits

1,438,246

1,417,045

1,342,332

1,143,211

1,071,623

Federal Home Loan Bank advances and other borrowings

—

—

10,000

10,000

40,000

Subordinated debt

14,834

14,827

14,819

14,812

14,805

Other liabilities

22,420

25,055

21,546

21,424

13,896


Total Liabilities

1,475,500

1,456,927

1,388,697

1,189,447

1,140,324


Stockholders’ Equity:

Preferred stock, $1 par value – 2,000,000 shares authorized

Non-cumulative perpetual, 28,750 shares issued and outstanding

27,263

27,527

—

—

—

Common stock, par value $4 per share, authorized 10,000,000
shares; issued and outstanding, 7,443,842 shares at December 31,
2020 including 161,435 unvested shares, 8,277,837 shares at September 30, 2020 including 162,917 unvested shares, 8,263,941 shares at June 30, 2020 including 155,742 unvested shares, 8,260,231 shares at March 31,2020 including 155,742 unvested shares, 8,260,259 shares at December 31, 2019 including 160,961 unvested shares.

29,130

32,460

32,433

32,418

32,397

Capital surplus

66,116

75,217

74,850

74,482

75,117

Retained earnings

44,179

37,105

31,933

32,567

29,097

Accumulated other comprehensive income

977

952

954

828

423


Total Stockholders’ Equity

167,665

173,261

140,170

140,295

137,034


Total Liabilities and Stockholders’ Equity

$

1,643,165

$

1,630,188

$

1,528,867

$

1,329,742

$

1,277,358


UNAUDITED CONSOLIDATED STATEMENTS OF INCOME INFORMATION

(In thousands, except share and per share data)


Year-Ended


Three Months Ended


December 31, 2020


December 31, 2019


December 31, 2020


September 30, 2020


June 30,
2020


March 31, 2020


December 31, 2019


INTEREST INCOME:

Interest and fees on loans

$

59,634

$

55,208

$

15,933

$

15,083

$

14,399

$

14,220

$

14,223

Interest on investment securities

2,007

2,202

519

491

496

501

534

Interest on federal funds sold

431

1,403

15

12

9

395

271

Total interest income

62,072

58,813

16,467

15,586

14,904

15,116

15,028


INTEREST EXPENSE:

Interest on interest bearing DDA deposits

317

998

108

56

36

117

195

Interest on savings and NOW deposits

221

289

52

55

50

64

71

Interest on money market deposits

2,162

2,379

418

490

474

778

489

Interest on time deposits

12,322

14,196

2,583

2,841

3,333

3,566

3,730

Interest on Federal Home Loan Bank
advances and other borrowings

107

549

—

13

44

50

92

Interest on subordinated debt

966

966

240

245

241

241

244

Total interest expense

16,095

19,377

3,401

3,700

4,178

4,816

4,821

Net interest income

45,977

39,436

13,066

11,886

10,726

10,300

10,207

Provision for loan losses

3,610

1,618

(2,950)

635

5,575

350

358

Net interest income after provision
for loan losses

42,367

37,818

16,016

11,251

5,151

9,950

9,849


NON-INTEREST INCOME:

Deposit account service charges

1,916

1,668

509

487

433

487

460

Bank owned life insurance income

779

498

183

199

198

199

181

Loan swap fee income

3,510

989

833

1,851

423

403

111

Net gain on available-for-sale securities

—

5

—

—

—

—

—

Net gain on sale of loans

33

566

—

33

—

—

—

Other fee income

1,255

1,136

378

288

264

325

407

Total other income

7,493

4,862

1,903

2,858

1,318

1,414

1,158


NON-INTEREST EXPENSES:

Salaries and employee benefits

17,937

15,776

4,746

4,495

4,263

4,433

4,179

Furniture and equipment expenses

2,128

1,728

601

574

500

454

457

Advertising and marketing

1,003

906

290

266

191

256

375

Occupancy expenses

1,270

864

360

332

311

267

221

Outside services

959

863

263

215

205

276

169

Administrative expenses

674

731

166

167

177

164

198

Other operating expenses

6,329

4,508

1,732

1,589

1,713

1,293

1,104

Total other expenses

30,300

25,376

8,158

7,638

7,360

7,143

6,703

Income before income tax (benefit)

19,560

17,304

9,761

6,471

(891)

4,221

4,304

Income tax expense (benefit)

3,843

3,354

2,051

1,299

(257)

751

742

Net Income (loss)

15,717

13,950

7,710

5,172

(634)

3,470

3,562

Preferred stock dividends

635

—

635

—

—

—

—

Net income (loss) available to common shareholders

15,082

$

13,950

$

7,075

$

5,172

$

(634)

$

3,470

$

3,562

Net income (loss) per common share,
basic and diluted

$

1.85

$

1.69

$

0.92

$

0.63

$

(0.08)

$

0.42

$

0.43

Weighted average number of common shares,
basic and diluted

8,131,334

8,251,302

7,700,470

8,272,570

8,263,370

8,287,317

8,260,259


UNAUDITED LOAN, DEPOSIT AND BORROWING DETAIL



(In thousands)


December 31, 2020


September 30, 2020


December 31, 2019


Percentage Change


$ Amount


% of


Total


$ Amount


% of


Total


$ Amount


% of


Total


Last


3 Mos


Last


12 Mos


LOANS:

Construction and land development loans

$

324,906

26.0

%

$

325,516

25.0

%

$

272,620

26.2

%

-0.2

%

19.2

%

Residential real estate loans

183,531

14.7

%

157,518

12.1

%

150,848

14.5

%

16.5

%

21.7

%

Commercial real estate loans

466,898

37.4

%

505,201

38.8

%

421,870

40.5

%

-7.6

%

10.7

%

Commercial industrial loans – Other

94,847

7.6

%

88,884

6.8

%

121,225

11.6

%

6.7

%

-21.8

%

Commercial industrial loans – PPP Loans

135,180

10.8

%

173,075

13.3

%

—

0.0

%

-21.9

%

100.0

%

Consumer loans

44,073

3.5

%

51,505

4.0

%

75,583

7.2

%

-14.4

%

-41.7

%

Total Gross Loans

$

1,249,435

100.0

%

$

1,301,699

100.0

%

$

1,042,146

100.0

%

-4.0

%

19.9

%

Less: Allowance for loan losses

(12,877)

(14,346)

(9,584)

Net deferred loan fees

(6,179)

(7,454)

(2,137)

Net Loans

$

1,230,379

$

1,279,899

$

1,030,425


DEPOSITS:

Non-interest bearing demand deposits

$

370,497

25.8

%

416,648

29.4

%

$

252,707

23.6

%

-11.1

%

46.6

%

Interest-bearing demand deposits:

Demand deposits

70,307

4.9

%

72,807

5.1

%

53,707

5.0

%

-3.4

%

30.9

%

Savings and NOW deposits

74,099

5.2

%

69,015

4.9

%

63,015

5.9

%

7.4

%

17.6

%

Money market accounts

426,600

29.7

%

348,146

24.6

%

141,337

13.2

%

22.5

%

201.8

%

Certificates of deposit $250,000 or more

213,077

14.8

%

211,800

14.9

%

211,935

19.8

%

0.6

%

0.5

%

Certificates of deposit less than $250,000

283,666

19.6

%

298,629

21.1

%

348,922

32.5

%

-5.0

%

-18.7

%

Total Deposits

$

1,438,246

100.0

%

$

1,417,045

100.0

%

$

1,071,623

100.0

%

1.5

%

34.2

%


BORROWINGS:

Federal Home Loan Bank advances

—

0.0

%

—

0.0

%

40,000

73.0

%

0.0

%

-100.0

%

Subordinated debt

14,834

100.0

%

14,819

100.0

%

14,805

27.0

%

0.1

%

0.2

%

Total Borrowings

$

14,834

100.0

%

$

14,819

100.0

%

$

54,805

100.0

%

0.1

%

-72.9

%

Total Deposits and Borrowings

$

1,453,080

$

1,431,864

$

1,126,428

1.5

%

29.0

%

Core customer funding sources (1)

$

1,046,087

72.0

%

$

1,066,236

74.5

%

$

654,213

58.1

%

-1.9

%

59.9

%

Brokered and listing service sources (2)

392,159

27.0

%

350,809

24.5

%

417,410

37.1

%

11.8

%

-6.0

%

Federal Home Loan Bank advances

—

0.0

%

—

0.0

%

40,000

3.5

%

0.0

%

-100.0

%

Subordinated debt (3)

14,834

1.0

%

14,819

1.0

%

14,805

1.3

%

0.1

%

0.2

%

Total Funding Sources

$

1,453,080

100.0

%

$

1,431,864

100.0

%

$

1,126,428

100.0

%

1.5

%

29.0

%

(1)

Includes ICS, CDARS, and reciprocal deposits maintained by customers, which represent sweep accounts tied to customer operating accounts

(2)

Consists of certificates of deposit (CD) through multiple listing services and multiple brokered deposit services, as well as ICS and CDARS one-way certificates of deposit and regional money market accounts

(3)

Subordinated debt obligation qualifies as Tier 2 capital at the holding company and Tier 1 capital at the Bank


UNAUDITED AVERAGE BALANCE SHEETS, INTEREST AND RATES


(In thousands)


For the three months ended December 31, 2020


For the three months ended December 31, 2019


Average


Balance


Interest


Income/


Expense


Average


Yields/ Rate


(annualized)


Average


Balance


Interest


Income/


Expense


Average


Yields/ Rate


(annualized)


ASSETS:

Interest earning assets:

Loans (1)(2)(3)

$

1,311,726

$

15,933

4.86

%

$

1,023,614

$

14,223

5.56

%

Investment securities

85,084

519

2.44

%

71,387

534

2.99

%

Federal funds and interest-bearing deposits

171,933

15

0.03

%

74,519

271

1.45

%

Total interest earning assets

$

1,568,743

$

16,467

4.20

%

$

1,169,520

$

15,028

5.14

%

Other assets

71,013

55,251

Total assets

$

1,639,756

$

1,224,771


Liabilities and Stockholders’ Equity:

Interest-bearing liabilities:

Interest-bearing demand deposits

$

71,906

$

108

0.60

%

$

54,176

$

195

1.44

%

Money market deposit accounts

390,645

418

0.43

%

134,011

489

1.46

%

Savings and NOW deposits

70,542

52

0.29

%

63,916

71

0.44

%

Time deposits

509,963

2,583

2.03

%

570,794

3,730

2.61

%

Total interest-bearing deposits

$

1,043,056

$

3,161

1.21

%

$

822,897

$

4,485

2.18

%

Federal funds and repos purchased

—

—

—

11

—

—

Subordinated debt

14,831

240

6.47

%

14,802

244

6.59

%

FHLB borrowings

—

—

—

15,370

92

2.39

%

Total interest-bearing liabilities

$

1,057,887

$

3,401

1.29

%

$

853,080

$

4,821

2.26

%

Demand deposits and other liabilities

414,581

236,396

Total liabilities

$

1,472,468

$

1,089,476

Stockholders’ Equity

167,288

135,295

Total Liabilities and Stockholders’ Equity

$

1,639,756

$

1,224,771


Interest Rate Spread

2.91

%

2.88

%


Net Interest Income

$

13,066

$

10,207


Net Interest Margin

3.33

%

3.49

%


Net Interest Margin, excluding PPP loans(4)

3.21

%

3.49

%

(1)

Includes loans classified as non-accrual

(2)

Includes average PPP balances of $157.8 million and related interest income of approximately $394,000 for the three months ended December 31, 2020

(3)

Total loan interest income includes amortization of deferred loan fees, net of deferred loan costs

(4)

Refer to Appendix for reconciliation of non-GAAP measures


UNAUDITED AVERAGE BALANCE SHEETS, INTEREST AND RATES


(In thousands)


For the year ended December 31, 2020


For the year ended December 31, 2019


Average


Balance


Interest


Income/


Expense


Average


Yields/ Rate


(annualized)


Average


Balance


Interest


Income/


Expense


Average


Yields/ Rate


(annualized)


ASSETS:

Interest earning assets:

Loans (1)(2)(3)

$

1,219,525

$

59,634

4.89

%

$

984,014

$

55,208

5.61

%

Investment securities

76,414

2,007

2.63

%

71,149

2,202

3.09

%

Federal funds and interest-bearing deposits

135,688

431

0.32

%

72,643

1,403

1.93

%

Total interest earning assets

$

1,431,627

$

62,072

4.34

%

$

1,127,806

$

58,813

5.21

%

Other assets

66,561

45,282

Total assets

$

1,498,188

$

1,173,088


Liabilities and Stockholders’ Equity:

Interest-bearing liabilities:

Interest-bearing demand deposits

$

37,431

$

317

0.85

%

$

56,675

$

998

1.76

%

Money market deposit accounts

314,398

2,162

0.69

%

129,606

2,379

1.84

%

Savings and NOW deposits

66,028

221

0.33

%

62,047

289

0.47

%

Time deposits

535,116

12,322

2.30

%

544,084

14,196

2.61

%

Total interest-bearing deposits

$

952,973

$

15,022

1.58

%

$

792,412

$

17,862

2.25

%

Federal funds and repos purchased

—

—

—

37

1

2.70

%

Subordinated debt

14,820

966

6.52

%

14,791

966

6.53

%

FHLB borrowings

6,189

107

1.73

%

21,162

548

2.59

%

Total interest-bearing liabilities

$

973,982

$

16,095

1.65

%

$

828,402

$

19,377

2.34

%

Demand deposits and other liabilities

375,046

215,405

Total liabilities

$

1,349,028

$

1,043,807

Stockholders’ Equity

149,160

129,281

Total Liabilities and Stockholders’ Equity

$

1,498,188

$

1,173,088


Interest Rate Spread

2.69

%

2.88

%


Net Interest Income

$

45,977

$

39,436


Net Interest Margin

3.21

%

3.50

%


Net Interest Margin, excluding PPP loans(4)

3.21

%

3.50

%

(1)

Includes loans classified as non-accrual

(2)

Includes average PPP balances of $116.7 million and related interest income of approximately $1.2 million for the year ended December 31, 2020

(3)

Total loan interest income includes amortization of deferred loan fees, net of deferred loan costs

(4)

Refer to Appendix for reconciliation of non-GAAP measures


UNAUDITED SUMMARY FINANCIAL DATA


(Dollars in thousands except per share data)


At or For the Three Months Ended


At or For the Year Ended


December 31,


December 31,


2020


2019


2020


2019



Per share Data and Shares Outstanding

Earnings (losses) per common share (basic and diluted)

$

0.92

$

0.43

$

1.85

$

1.69

Book value per common share

$

18.86

$

16.59

$

18.86

$

16.59

Weighted average common shares (basic and diluted)

7,700,470

8,260,259

8,131,334

8,251,302

Common shares outstanding at end of period

7,443,842

8,260,259

7,443,842

8,260,259



Performance Ratios

Return on average assets (annualized)

1.88

%

1.16

%

1.05

%

1.19

%

Return on average assets, excluding impact of PPP loans (annualized)(2)

1.61

%

1.16

%

0.87

%

1.19

%

Return on average equity (annualized)

18.44

%

10.53

%

10.54

%

10.79

%

Yield on earning assets (annualized)

4.20

%

5.14

%

4.34

%

5.21

%

Cost of interest bearing liabilities (annualized)

1.29

%

2.26

%

1.65

%

2.34

%

Net interest spread

2.91

%

2.88

%

2.69

%

2.88

%

Net interest margin (annualized)

3.33

%

3.49

%

3.21

%

3.50

%

Net interest margin, excluding PPP loans (annualized)(2)

3.21

%

3.49

%

3.21

%

3.50

%

Noninterest income as a percentage of average assets (annualized)

0.46

%

0.38

%

0.50

%

0.41

%

Noninterest expense to average assets (annualized)

1.99

%

2.19

%

2.02

%

2.16

%

Efficiency ratio(3)

54.50

%

58.98

%

56.67

%

57.28

%



Asset Quality

Loans 30-89 days past due to total gross loans

0.01

%

0.03

%

0.01

%

0.03

%

Loans 90 days past due to total gross loans

0.00

%

0.00

%

0.00

%

0.00

%

Non-accrual loans to total gross loans

0.01

%

0.00

%

0.01

%

0.00

%

Other real estate owned

$

1,180

$

1,207

$

1,180

$

1,207

Non-performing assets

$

1,330

$

1,207

$

1,330

$

1,207

Non-performing assets to total assets

0.08

%

0.09

%

0.08

%

0.09

%

Non-performing assets to total assets, excluding PPP loans(2)

0.09

%

0.09

%

0.09

%

0.09

%

Allowance for loan losses to total gross loans

1.03

%

0.92

%

1.03

%

0.92

%

Allowance for loan losses to total loans, excluding PPP loans(2)

1.16

%

0.92

%

1.16

%

0.92

%

Allowance for loan losses to non-performing assets

9.68

7.94

9.68

7.94

Net loan charge-offs (recoveries)

$

(1,480)

$

144

$

317

$

865

Net charge-offs (recoveries) to average gross loans (annualized)

-0.45

%

0.06

%

0.03

%

0.09

%

Net charge-offs (recoveries) to average gross loans, excluding PPP loans (annualized)(2)

-0.52

%

0.06

%

0.03

%

0.09

%

Troubled debt restructurings (total)

Performing in accordance with modified terms

$

—

$

1,482

$

—

$

1,482

Not performing in accordance with modified terms

$

—

$

—

$

—

$

—



Regulatory Capital Ratios (Bank only) (1)

Total risk-based capital ratio

12.13

%

13.74

%

12.13

%

13.74

%

Tier 1 risk-based capital ratio

11.00

%

12.91

%

11.00

%

12.91

%

Leverage ratio

10.78

%

12.65

%

10.78

%

12.65

%

Common equity tier 1 ratio

11.00

%

12.91

%

11.00

%

12.91

%



Other information

Closing stock price

$

16.91

$

23.00

$

16.91

$

23.00

Equity / assets

10.20

%

10.73

%

10.20

%

10.73

%

Equity / assets, excluding PPP loans(2)

11.12

%

10.73

%

11.12

%

10.73

%

Average equity / average assets

10.20

%

11.05

%

9.96

%

11.05

%

Average equity / average assets, less average PPP loans(2)

11.29

%

11.05

%

10.80

%

11.05

%

Number of full time equivalent employees

126

126

126

126

# Full service branch offices

7

6

7

6

(1)

Regulatory capital ratios as of December 31, 2020 are preliminary

(2)

Refer to Appendix for reconciliation of non-GAAP measures

(3)

Efficiency ratio is calculated as non-interest expense as a percentage of net interest income and non-interest income


Reconciliation of Certain Non-GAAP Financial Measures


(In thousands)


For the three months ended
December 31,


For the year ended December 31,


2020


2019


2020


2019


Paycheck Protection Program adjustment impact

Loans held for investment (GAAP)

$

1,249,435

$

1,042,146

$

1,249,435

$

1,042,146

Less: PPP loans

135,180

—

135,180

—

Loans held for investment, excluding PPP (non-GAAP)

$

1,114,255

$

1,042,146

$

1,114,255

$

1,042,146

Average loans held for investment (GAAP)

$

1,311,726

$

1,023,614

$

1,219,525

$

984,014

Less: Average PPP loans

157,787

—

116,690

—

Average loans held for investment, excluding PPP (non-GAAP)

$

1,153,939

$

1,023,614

$

1,102,835

984,014


For the three months ended
December 31,


For the year ended December 31,


2020


2019


2020


2019


Net interest margin adjustment

Net interest income (GAAP)

$

13,066

$

10,207

$

45,977

$

39,436

Less: PPP fees recognized

1,363

—

2,598

—

Less: PPP interest income earned

394

—

1,167

—

Net interest income, excluding PPP income (non-GAAP)

11,309

10,207

42,212

39,436

Average interest earning assets (GAAP)

1,568,743

1,169,520

1,431,627

1,127,806

Less: average PPP loans

157,787

—

116,690

—

Average interest earning assets, excluding PPP (non-GAAP)

1,410,956

1,169,520

1,314,937

1,127,806

Net interest margin (GAAP)

3.33

%

3.49

%

3.21

%

3.50

%

Net interest margin, excluding PPP (non-GAAP)

3.21

%

3.49

%

3.21

%

3.50

%


For the three months ended
December 31,


For the year ended December 31,


2020


2019


2020


2019


Total asset adjustment

Total assets (GAAP)

$

1,643,165

$

1,277,358

$

1,643,165

$

1,277,358

Less: PPP loans

135,180

—

135,180

—

Total assets, excluding PPP loans (non-GAAP)

1,507,985

1,277,358

1,507,985

1,277,358

Total equity (GAAP)

167,665

137,034

167,665

137,034

Equity / assets, excluding PPP loans (non-GAAP)

11.12

%

10.73

%

11.12

%

10.73

%


Average asset adjustment

Average assets (GAAP)

1,639,756

1,224,771

1,498,188

1,173,088

Less: average PPP loans

157,787

—

116,690

—

Total average assets, excluding average PPP loans

1,481,969

1,224,771

1,381,498

1,173,088

Total average equity (GAAP)

167,288

135,295

149,160

129,281

Average equity / average assets, excluding average PPP loans (non-GAAP)

11.29

%

11.05

%

10.80

%

11.02

%


For the three months ended
December 31,


For the year ended December 31,


2020


2019


2020


2019


Return on Average Assets, adjusted

Net income (GAAP)

$

7,710

$

3,562

$

15,717

$

13,950

Less: PPP fees recognized

1,363

—

2,598

—

Less: PPP interest income

394

—

1,167

—

Net income, excluding PPP income (non-GAAP)

5,953

3,562

11,952

13,950

Average total assets

1,639,756

1,224,771

1,498,188

1,173,088

Less: average PPP loans

157,787

—

116,690

—

Average total assets, excluding PPP (non-GAAP)

1,481,969

1,224,771

1,381,498

1,173,088

Return on average assets, excluding PPP (non-GAAP)

1.61

%

1.16

%

0.87

%

1.19

%


For the three months ended
December 31,


For the year ended December 31,


2020


2019


2020


2019


Nonperforming Assets to total assets, adjusted

Total nonperforming assets (GAAP)

$

1,330

$

1,207

$

1,330

$

1,207

Total assets (GAAP)

1,643,165

1,277,989

1,643,165

1,277,989

Less: PPP loans

135,180

—

135,180

—

Total assets, excluding PPP loans (non-GAAP)

1,507,985

1,277,989

1,507,985

1,277,989

Nonperforming assets to total assets, excluding PPP loans (non-GAAP)

0.09

%

0.09

%

0.09

%

0.09

%


For the three months ended
December 31,


For the year ended December 31,


2020


2019


2020


2019


Allowance for loan losses, adjusted

Allowance for loan losses (GAAP)

$

12,877

$

9,584

$

12,877

$

9,584

Total gross loans (GAAP)

1,306,441

1,042,146

1,306,441

1,042,146

Less: PPP loans

135,180

—

135,180

—

Total gross loans, excluding PPP loans (non-GAAP)

1,171,261

1,042,146

1,171,261

1,042,146

Allowance for loan losses to total loans, excluding PPP (non-GAAP)

1.10

%

0.92

%

1.10

%

0.92

%


For the three months ended
December 31,


For the year ended December 31,


2020


2019


2020


2019


Net charge-offs to average loans, adjusted

Total net charge-offs (GAAP)

$

(1,480)

144

$

317

$

865

Total average gross loans (GAAP)

1,307,267

1,024,602

1,216,699

984,446

Less: average PPP loans

157,787

—

116,690

—

Total average gross loans, excluding PPP loans (non-GAAP)

1,149,480

1,024,602

1,100,009

984,446

Net charge-offs (recoveries) to average gross loans, excluding PPP (annualized) (non-GAAP)

-0.52

%

0.06

%

0.03

%

0.09

 

 

 

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/mainstreet-bancshares-inc-reports-record-earnings-301212351.html

SOURCE MainStreet Bancshares, Inc.

Posted on

One week until Bell Let’s Talk Day: Thanks to all our partners!

Canada NewsWire

MONTRÉAL, Jan. 21, 2021 /CNW Telbec/ – Bell Let’s Talk Day is just a week away, and we would like to thank the hundreds of organizations in every corner of Canada that are helping make the world’s biggest mental health conversation happen.

“Each of these fantastic organizations is stepping up to highlight mental health and Bell Let’s Talk Day while also taking action to make a difference within their own organizations and communities,” said Mary Deacon, Chair of Bell Let’s Talk. “We thank them all sincerely for their engagement and support – now more than ever as we confront the ongoing mental health impacts of these challenging times.”

The list of organizations supporting Bell Let’s Talk Day includes media creators and distributors, social media platforms, governments, the military, unions, sports teams and athletic organizations, festivals, associations, corporations and competitors.

With COVID-19 restrictions in place, many have found innovative ways to engage virtually – including the more than 200 Canadian universities and colleges taking part in this year’s Bell Let’s Talk Campus Campaign.

Bell Let’s Talk thanks the following organizations for taking action to support and promote Canada’s mental health:

Academy of Canadian Cinema & Television

Gorditos

Pelmorex

Adapt Media

Government of Canada

Pinterest

Alliance Sport-Études

Graham Boeckh Foundation

Place Bell

ASEQ/Student Care

Groupe Mirault

Postmedia

Association des collèges privés du Québec

The Halifax-Chronicle Herald

Post-Moderne

Association québécoise de la production médiatique

Hamilton Bulldogs

Quebec Seniors’ Housing Group (QSHG)

Atlantic University Sport

Hot Docs

Raptors 905

Au Contraire Film Festival

iHeartRadio

REC Media

Banff World Media Festival

IMAGI

Ricardo

BC Place

Impérial Bell

Rodeo Prod. Inc.

Bell Media

Indigo Books and Music Inc.

Rogers

Black Professionals in Tech Network

Instagram

The Rossy Foundation

BLVD

Jeune Chambre de commerce de Montréal

RNC Media

Brampton Beast

JPG Design

Rouge Media

Branded Cities

Just for Laughs

Royal Canadian Mounted Police

Cablevision

Keolis Canada

The Saint John Telegraph Journal

Calgary Stampede

Kijiji

Saltwire

Canada Basketball

Kitchener Rangers

Snap Inc.

Canada West

L’actualité

SOCIETY @ M.E.

Canadian Armed Forces

La Presse

South Shore Breaker

Canadian Association of College & University Student Services

Laval Rocket

Sport Media

The Canadian Club Montréal

Le Massif

Spotify

Canadian Collegiate Athletic Association

Leclerc Communications Inc.

Stingray

Canadian Olympic Committee

Les Affaires

Super Channel

Canadian Paralympic Committee

Les Lignes du Fjord

Target Outdoor

Captivate

lg2

Télé Quebec

Cavendish Beach Music Festival

MARKS Media

Telus

CBC / Radio-Canada

Media City

The Telegram

Centre Bell

Media Experts

TikTok

Centre d’innovation en microélectronique du Québec (CIMEQ)

Metro

Toronto Argonauts Football Club

The Chamber of Commerce of Metropolitan Montréal

Mississauga Steelheads

Toronto Caribbean Carnival

Chambre de commerce de l’Est de Montréal

MLSE – Maple Leaf Sports and Entertainment

Toronto Defiant

Chambre de commerce et d’industrie de Québec

The Moncton Times & Transcript

Toronto FC

The Charlottetown Guardian

Monster Media

Toronto International Film Festival

Cinélande

Montréal Canadiens

Toronto Maple Leafs

CINEMANIA

Montréal Council on Foreign Relations

Toronto Raptors

City of Dryden

Montréal Museum of Fine Arts

Toronto Rock

Cleveland Clinic Canada

MUHC-CUSM

Toronto Ultra

Club de la médaille d’or

The National Institute of Image and Sound

True North Youth Foundation

Cogeco

National Music Centre

True Patriot Love Foundation

Colleges and Institutes Canada

Native Touch

Turtle Island Publications

Culture Days

NBA Canada

TVC9

Dauphin’s Countryfest

Neo-Traffic

Twitter Canada

District M

Neptune Theatre

UNIFOR

Eat It Up Media

NFL Canada

Universities Canada

E.C. Boone Ltd.

Niagara Ice Dogs

Vancouver Whitecaps FC

ESPACE GO

Noovo

Verizon Media

evenko

OFX Media

Vertical Impression

Facebook

Ontario University Athletics

The Winkler Morden Voice

Fédération des cégeps

Ordre des Psychologues du Québec

Winnipeg Blue Bombers

Femmes du cinéma, de la télévision et des médias numériques

Oshawa Generals

Winnipeg Free Press

Festival d’été de Québec

Osheaga

Winnipeg Jets

Flipp

Ottawa Senators

The Writers Guild of Canada

Fondation de l’athlète de l’excellence du Québec

Outfront

Xpeto

Fondation et alumni de Polytechnique Montréal

OverActive Media

YUL Montréal-Trudeau International Airport

Francos de Montréal

Panorama Média

Zoom Media

The Fredericton Daily Gleaner

Pattison OneStop

Google

Pattison Outdoor

Bell Let’s Talk Day is January 28
On Bell Let’s Talk Day Canadians everywhere will join in the global mental health conversation. You can use a wide range of communications platforms to join in – and directly drive Bell’s donations to Canadian mental health programs simply by participating.

On Bell Let’s Talk Day, Bell donates 5 cents to Canadian mental health programs for every applicable text, local or long distance call, tweet or TikTok video using #BellLetsTalk, every Facebook, Instagram, Pinterest, Snapchat, TikTok, Twitter and YouTube view of the Bell Let’s Talk Day video, and every use of the Bell Let’s Talk Facebook frame or Snapchat filter. All at no cost to participants beyond what they would normally pay their service provider for online or phone access.

Since the first Bell Let’s Talk Day in 2011, Canadians and people around the world have sent a total of more than 1.1 billion messages of support for mental health, bringing Bell’s total funding commitment to $113,415,135 (which includes the company’s original $50 million anchor donation when Bell Let’s Talk launched in 2010, plus an additional $5 million dedicated to COVID-19 response).

About Bell Let’s Talk
The largest-ever corporate commitment to mental health in Canada, Bell Let’s Talk is focused on 4 key action pillars: Anti-stigma, Care and Access, Research and Workplace Leadership. Since its launch in September 2010, Bell Let’s Talk has partnered with more than 1,100 organizations providing mental health supports and services throughout Canada, including hospitals, universities, local community service providers and other care and research organizations.

In March 2020, Bell announced the extension of the Bell Let’s Talk initiative for another 5 years. Including the additional COVID-19 funding, Bell is now targeting a total corporate donation of at least $155 million to Canadian mental health programs. To learn more, please visit Bell.ca/LetsTalk.

Media inquiries:

Jacqueline Michelis

613-785-1427
[email protected]
@Bell_LetsTalk
@Bell_News

SOURCE Bell Canada

Posted on

Healthpeak Properties Announces Any and All Cash Tender Offers for $1.45 Billion of Notes

PR Newswire

DENVER, Jan. 21, 2021 /PRNewswire/ — Healthpeak Properties, Inc. (NYSE: PEAK) (the “Offeror”) has commenced offers (the “Offers”) to purchase for cash any and all of its applicable securities listed in the table below (the “Securities”) from each registered holder of the Securities (the “Holders”):


CUSIP
Number


Title of Security


Par Call Date


Aggregate
Principal
Amount
Outstanding


Reference
U.S. Treasury
Security


Bloomberg
Reference
Page


Fixed Spread

(basis points)

40414LAJ8

4.250% Senior Notes due 2023

August 15, 2023

$300,000,000

0.125% due August 15, 2023

FIT5

25

40414LAK5

4.200% Senior Notes due 2024

December 1, 2023

$350,000,000

2.875% due November 30, 2023

FIT5

25

40414LAL3

3.875% Senior Notes due 2024

May 17, 2024

$800,000,000

2.500% due May 15, 2024

FIT5

25

The applicable Purchase Price payable for each Series of Securities will be a price per $1,000 principal amount of such Series of Securities validly tendered (and not validly withdrawn) by the Holders at any time at or prior to the Expiration Time (as defined below) and accepted for purchase by the Offeror, which is calculated using the fixed spread applicable to such Series of Securities set forth under the heading “Fixed Spread” above (the “Fixed Spread”), as more fully described in the Offer to Purchase.

The Offers are being made pursuant to an Offer to Purchase, dated January 21, 2021, which contains detailed information concerning the terms of the Offers.  The Offers are scheduled to expire at 5:00 p.m., New York City time, on January 27, 2021 unless extended or earlier terminated (the “Expiration Time”).  Upon the terms and subject to the conditions of the Offers, the Settlement Date is expected to be January 28, 2021 and the Guaranteed Delivery Settlement Date is expected to be February 1, 2021.

The Offeror will pay the applicable purchase price determined as described above (the “Purchase Price”), plus accrued and unpaid interest from the most recent interest payment date to, but excluding, the Settlement Date (the “Accrued Interest”) for any Securities validly tendered (and not validly withdrawn) by the Holders at any time at or prior to the Expiration Time and accepted for purchase by the Offeror in same-day funds on the Settlement Date and/or the Guaranteed Delivery Settlement Date, as applicable.

The Purchase Price payable for each Series of Securities will be a price per $1,000 principal amount of such Series of Securities equal to an amount, calculated in accordance with the Offer to Purchase, that would reflect a yield from the Settlement Date to the applicable par call date (which, in the case of each Series of Securities, is the 90th calendar day prior to the maturity date of the Securities of such Series) of such Series of Securities equal to the sum of (i) the Reference Yield (as defined below) for such Series of Securities, determined at 2:00 p.m., New York City time, on January 27, 2021 plus (ii) the applicable Fixed Spread, in each case minus Accrued Interest on the Securities.  The “Reference Yield” means, with respect to each Series of Securities, the yield of the applicable reference security listed above (the “Reference Security”) for such Series of Securities.

The Offeror expects to use the net cash proceeds from closed senior housing dispositions to pay the Purchase Price, plus Accrued Interest up to, but excluding, the Settlement Date, for all Securities that the Offeror purchases pursuant to the Offers.   

Tenders of Securities pursuant to any of the Offers may be validly withdrawn at any time before the earlier of (i) the Expiration Time, and (ii) if such Offer is extended, the 10th business day after commencement of such Offer.  Securities subject to any of the Offers may also be validly withdrawn at any time after the 60th business day after commencement of such Offer if for any reason such Offer has not been consummated within 60 business days after commencement.

The Offers are conditioned on satisfaction of certain customary general conditions described in the Offer to Purchase.  None of the Offers is conditioned upon the completion of any of the other Offers, and each Offer is independent of any other Offer.  None of the Offers is conditioned on a minimum principal amount of any Series of Securities being tendered.  Subject to applicable law, the Offeror may, at its sole discretion, waive any condition applicable to any of the Offers and may extend any of the Offers.  Capitalized terms used but not defined in this press release shall have meanings ascribed to them in the Offer to Purchase.

The Offeror expressly reserves the right, in its sole discretion, at any time or from time to time, regardless of whether or not the conditions set forth in the Offer to Purchase for any of the Offers has been satisfied, subject to applicable law, to extend the Expiration Time for any of the Offers, or to amend in any respect or to terminate any of the Offers, in each case by giving written or oral notice of such extension, amendment or termination to the Tender Agent.

If any Securities remain outstanding after the consummation of the Offers, the Offeror expects to redeem such Securities in accordance with the terms and conditions set forth in the applicable Indenture governing such Series of Securities. However, the Offeror is not obligated to, and may choose not to, exercise its right to redeem any Securities.

The Offeror has retained Credit Suisse Securities (USA) LLC and Credit Agricole Securities (USA) Inc. to act as the dealer managers for the Offers. Global Bondholder Services Corporation is acting as the information agent and the tender agent.  Requests for documents may be directed to Global Bondholder Services Corporation free of charge, by calling toll-free at (866) 470-4500 (bankers and brokers can call collect at (212) 430-3774).  Questions regarding the Offers may be directed to Credit Suisse Securities (USA) LLC toll free at (800) 820-1653 or collect at (212) 325-6340 or Credit Agricole Securities (USA) Inc. toll free at (866) 807-6030 or collect at (212) 261-7802.

Copies of the Offer to Purchase, and related Notice of Guaranteed Delivery and the other relevant notices and documents are available at Global Bondholder Services Corporation’s website at http://www.gbsc-usa.com/healthpeak/.

This press release is for informational purposes only and does not constitute an offer to purchase nor the solicitation of an offer to sell any Securities, or a notice of redemption under any of the Indentures governing the Securities.  The Offers are being made only pursuant to the Offer to Purchase and related Notice of Guaranteed Delivery.  The Offers are not being made to holders of Securities in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction.  None of the Offeror, the Dealer Managers, the Information Agent, the Tender Agent, the Trustee or any of their respective affiliates makes any recommendation in connection with the Offers.  Please refer to the Offer to Purchase for a description of terms, conditions, disclaimers and other information applicable to the Offers.

About Healthpeak                                                                 

Healthpeak Properties, Inc. is a fully integrated real estate investment trust (REIT) and S&P 500 company. Healthpeak owns and develops high-quality real estate in the three private-pay healthcare asset classes of Life Science, Senior Housing and Medical Office, designed to provide stability through the inevitable industry cycles.  At Healthpeak, we pair our deep understanding of the healthcare real estate market with a strong vision for long-term growth.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of federal securities laws and regulations. These forward-looking statements are identified by their use of terms and phrases such as “believe,” “expect,” “intend,” “project,” “anticipate,” “position,” and other similar terms and phrases, including references to assumptions and forecasts of future results.  Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors which may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. These risks and uncertainties include, but are not limited to, Healthpeak’s ability to complete the Offers and reduce its outstanding debt within expected time-frames or at all, and other risks and uncertainties described in the Offer to Purchase and in its Securities and Exchange Commission filings.  Although Healthpeak believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, Healthpeak can give no assurance that the expectations will be attained or that any deviation will not be material.  All information in this release is as of the date of this release, and Healthpeak undertakes no obligation to update any forward-looking statement to conform the statement to actual results or changes in its expectations, except as required by law.

Contact

Barbat Rodgers
Senior Director – Investor Relations
(949) 407-0400

 

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SOURCE Healthpeak Properties, Inc.