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The Friday Express: North American financials


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The Friday Express: North American financials

* Citigroup named a Swiss Re Life & Health America subsidiaryas Primerica Life Insurance's reinsurer on a coinsurance agreement — a changeexpected to lower Citi Holdings' asset size by .

* The U.S. JusticeDepartment has asked JPMorgan, Wells Fargo and Deutsche Bank to hold onto andpossibly turn overdocuments related to money transfers they processed for 1MDB. The three are notunder investigation, say sources for Bloomberg News.

* Spirit of Texas Bankplans to acquire aPlainsCapital Bank branch, according to the HoustonChronicle.

* Teton Capital's DavidSokol beneficially owns a 30.46% stake in Middleburg Financial and wants theVirginia-based company to explore strategic alternatives.

* AmeriServ Financial expects to record an of$3.0 million to $3.5 million for loan losses and higher net loan charge-offs.

* Toronto-Dominion Bankstockholders rejected shareholderproposals, including one on simplifying financial information.

* Goldman Sachs still expects the Fed to raise rates three timesthis year — in June,September and December, Goldman's senior economist told The Wall Street Journal.

* Banc of Californiapromoted ThedoraNickel to chief administrative officer.

* New Orleans-based FifthDistrict Savings Bank board elected Brian North president and CEO.

* is resigning as WellCareHealth's chief accounting officer.

* Great American InsuranceGroup promoted LisaHays to chief actuary of the property and casualty group.

* The NCUA has Heritage USA FederalCredit Union's former CEO, Duane Jones, from participating in the affairs ofany federally insured financial institution.

* And Minnesota's MinncoCredit Union promoted DougHallstrom to CEO.  

The Daily Dose: Express Edition is updated as of 6:30 a.m. ET.Some external links may require a subscription.