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For 1Q16, $OZRK's net interest income rose 31.6% to $112.5MM vs. $85.5MM for 1Q15. Net interest margin on a fully taxable equivalent basis fell 50 BP to 4.92% for 1Q16 vs. 5.42% for 1Q15. Non-interest income fell 31.7% to $19.9MM vs. $29.1MM for 1Q15, while net gains on sales of other assets decreased to $1.03MM during 1Q16.
The latest earnings report by $VZ shows how it is losing customers despite offering the unlimited data plans, a record for the company.
$BEBE is closing down all its stores by the end of May.
$WFC agreed to hike its payout in a class-action settlement over unauthorized accounts by $32 million to $142 million for its retail sales practices. The settlement will now include customers who were impacted as early as May 2002.