PMA Securities Reaches Agreement to Acquire Crystal Financial Consulting
Naperville, Ill. – December 23, 2021- The Public Finance Group of PMA Securities, LLC (“PMA”) announced today that it has acquired the municipal advisory business of Crystal Financial Consultants, Inc. (“Crystal”), a top 10 Illinois school municipal advisor (“MA”) serving municipal issuers for over 30 years, from principal owner Dr. Robert Grossi.
by Laura Fox
It has been several decades since I owned a manual transmission car, but learning how to drive stick was a rite of passage for most teenagers back in my day.
by Laura Fox Recent News
U.S. Bank Margins Rebound
After declining for ten straight quarters, U.S. bank margins rebounded in the third quarter. The banking industry’s aggregate net interest margin rose to 2.51% in the third quarter, up six basis points from the prior quarter. The industry’s loan yield rose to 4.34% in the third quarter from 4.25% in the second quarter but was down from 4.39% a year ago. Paycheck Protection Program (PPP) forgiveness bolstered yields on commercial and industrial credits, which jumped to 4.19% in the third quarter, up 29 basis points from the linked quarter and 71 basis points from a year earlier.
by Laura Fox FEATURED MARKET DATA
Stocks Down as Volatility Rose
Volatility trended up during November even as equity markets generally climbed most of the month. The CBOE Volatility Index (VIX), a measure of expected stock market volatility surged to 27. Inflation and supply chain concerns weighed on investors, contributing to volatility.
by Matt Orseske 