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Wednesday Express: SmartFinancial, Entegra merging; SEC charges 9 for 2016 hack


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Wednesday Express: SmartFinancial, Entegra merging; SEC charges 9 for 2016 hack

* Bank of America, Goldman Sachs, U.S. Bancorp and PNC Financial Services Group are expected to release their 2018 fourth-quarter earnings results before markets open today.

* The U.S. Securities and Exchange Commission filed charges against seven individuals and two entities who allegedly schemed the 2016 hack into its corporate filings database to extract nonpublic earnings releases for illegal trading.

* Knoxville, Tenn.-based SmartFinancial and Franklin, N.C.-based Entegra Financial struck a merger-of-equals deal valued at roughly $158.2 million.

* U.S. Treasury Department official David Malpass, Overseas Private Investment CEO Ray Washburne and former PepsiCo Inc. Chief Executive Indra Nooyi are in the contention to become president of the World Bank, Reuters reports.

* Hanover Insurance Group expects catastrophe losses to impact its 2018 fourth-quarter operating results by around $50 million before taxes.

* And several purported class-action lawsuits were filed against insurer Markel for allegedly making false statements and failing to disclose crucial information about its reserving practices.

* Bank of New York Mellon is cutting about 400 jobs, or nearly 1% of its global workforce, the Pittsburgh Post-Gazette reports.

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