Core Insights - First Horizon Bank has appointed Eric Teal as Senior Vice President and Chief Investment Officer (CIO) of First Horizon Wealth Management, where he will lead investment strategy and portfolio construction [1][2]. Group 1: Leadership and Experience - Eric Teal joins First Horizon Wealth Management from Comerica, where he was the Chief Investment Officer and part of the senior leadership team [2]. - Teal has over 10 years of experience as CIO at First Citizens Bank and has also served as Managing Director and Investment Manager at U.S. Bank Private Wealth Management [2][3]. - His educational background includes a Bachelor of Science in Economics and International Studies from Rhodes College and an MBA in Finance from the University of Memphis [3]. Group 2: Company Overview - First Horizon Corp. has $83.9 billion in assets as of December 31, 2025, and operates in 12 states primarily in the southern U.S. [5]. - The company offers a range of financial services including commercial, private banking, consumer, small business, wealth and trust management, retail brokerage, capital markets, fixed income, and mortgage banking [5]. - First Horizon has been recognized as one of the best employers by Fortune and Forbes and is listed as a Top 10 Most Reputable U.S. Bank [5].

Core Viewpoint - SEI has appointed Paul Lehman as Head of Bank Asset Management Distribution to enhance its investment solutions for wealth management, focusing on building relationships with banks and affiliated wealth organizations [1][2][3] Group 1: Appointment and Responsibilities - Paul Lehman will lead SEI's bank asset management distribution strategy, overseeing investment sales and partnership development across various banking sectors [1] - Lehman is tasked with deepening relationships with existing bank clients and expanding asset management capabilities to new clients [2] - He will collaborate with investment product development leaders to deliver coordinated investment solutions that align with banks' evolving business models and regulatory structures [2] Group 2: Strategic Importance - SEI aims to help banks differentiate their wealth and trust platforms by providing integrated investment strategies that meet the needs of the market [3] - The company emphasizes the importance of streamlined, comprehensive investment solutions that can be integrated within its technology platform [3] Group 3: Lehman's Background - Paul Lehman brings over 30 years of experience in leading and advising bank trust and wealth organizations, previously serving as Head of the Bank Trust Group at Dimensional Fund Advisors [4] - His past roles include Chief Investment Officer and Head of Capital Management at First Citizens Bank, where he advised high-net-worth clients [4] - Lehman is a Chartered Financial Analyst and holds degrees in business psychology and finance [5] Group 4: Company Overview - SEI is a leading global provider of financial technology, operations, and asset management services, managing approximately $1.8 trillion in assets as of September 30, 2025 [6]

Group 1 - First Citizens Bank has appointed Snow Holding as Director and Market Leader of Middle Market Banking for the Northeast, focusing on business expansion in Boston and New York [1] - Holding has a six-year tenure at First Citizens, previously serving in Deposit and Treasury Services and as Manager of Business Banking in Boston [1] - The bank's middle market banking practice has been operational in the Northeast for two years, targeting clients with revenues above $75 million [2] Group 2 - First Citizens Bank aims to enhance its Business, Commercial, and Wealth presence in the Northeast region, with plans for further market expansion [2] - The bank offers a comprehensive suite of products and services designed for middle market clients, emphasizing a high-touch client-centric banking experience [2] - First Citizens BancShares, Inc. is a top 20 U.S. financial institution with over $200 billion in assets, providing a wide range of banking services nationwide [3]

Core Insights - The ninth annual State of the Cannabis Industry conference will be hosted by Blank Rome LLP on October 27, 2025, focusing on challenges and opportunities in the multibillion-dollar cannabis sector [1][2] Industry Challenges - The cannabis industry is currently facing significant challenges, including federal rescheduling delays, limited institutional capital, high taxes, and competition from the illicit market [2] - Recent work has highlighted receiverships and distressed transactions, indicating the pressures businesses are under [2] Industry Opportunities - Despite the challenges, there are positive trends such as robust consumer demand, industry expansion, and remarkable growth in the market for THC and intoxicating hemp beverages [2] - The conference aims to foster collaboration among industry leaders to share actionable strategies and help shape the future of cannabis [2] Conference Features - The conference will include a keynote session featuring insights from the Massachusetts Cannabis Control Commission, addressing regulatory developments and business transformation [2] - A notable session titled "The View from the Top: Cannabis CEOs on 2025's Critical Challenges & Opportunities" will feature leading cannabis CEOs discussing federal rescheduling, mergers and acquisitions, and consumer trends [3] Attendee Profile - Attendees will include multi-state operators, retailers, cultivators, product manufacturers, delivery operators, investment bankers, venture capital firms, and regulatory experts, all focused on advancing the cannabis industry [3] Sponsorship - The conference is supported by a range of sponsors, including Needham Bank and OPUS Consulting, which are recognized for their role in driving innovation and growth within the cannabis sector [4]

Company Overview - Highwoods Properties, Inc. is a publicly-traded real estate investment trust (REIT) focused on owning, developing, acquiring, leasing, and managing properties in major business districts across several cities including Atlanta, Charlotte, Dallas, Nashville, Orlando, Raleigh, Richmond, and Tampa [4] Financial Update - Highwoods Properties has recast a $200 million unsecured bank term loan, extending its maturity from May 2026 to January 2029, with an option to extend for an additional two years if no defaults occur [1] - The interest rate on the new term loan is set at SOFR plus 95 basis points, with potential adjustments of up to 2.5 basis points based on the achievement of specific sustainability goals related to greenhouse gas emissions reduction [2] Loan Arrangement Details - The new term loan was arranged by several financial institutions, including BofA Securities, Wells Fargo Securities, and PNC Capital Markets, with Bank of America acting as the Administrative Agent [3]

Core Viewpoint - FitLife Brands, Inc. has successfully acquired substantially all assets of Irwin Naturals for a total consideration of $42.5 million, as approved by the US Bankruptcy Court [1][2]. Group 1: Acquisition Details - The acquisition was executed under Section 363 of the US Bankruptcy Code, allowing FitLife to acquire assets while assuming minimal liabilities [2]. - The funding for the acquisition included $35.75 million from a new term loan and revolving line of credit from First Citizens Bank, with the remainder sourced from FitLife's cash balances [2]. Group 2: Company Insights - FitLife Brands is a developer and marketer of nutritional supplements and wellness products, offering over 250 products primarily online and through various retail locations [3]. - The company is headquartered in Omaha, Nebraska, and targets health-conscious consumers [3]. Group 3: Management Commentary - Dayton Judd, Chairman and CEO of FitLife, expressed excitement about the acquisition, highlighting Irwin's strong brands and distribution capabilities, and anticipates it will drive revenue and earnings growth for the company [3].

Core Viewpoint - FitLife Brands, Inc. has announced the acquisition of substantially all assets of Irwin Naturals, a nutritional supplement company, under Section 363 of the US Bankruptcy Code, with the transaction expected to close around August 8, 2025 [1][2]. Transaction Highlights - The purchase price for the acquisition is $42.5 million, which includes approximately $16 million of net working capital and equates to a pre-synergy acquisition multiple of less than 6x EBITDA [8][9]. - The combined revenue for the first full year of operation is anticipated to exceed $120 million, with adjusted EBITDA expected to be between $20-25 million [8][9]. About Irwin Naturals - Irwin Naturals, founded in 1994, generates approximately 4% of its revenue from online sales, 61% from wholesale sales to mass market customers, and 35% from wholesale sales to health food stores [3]. - Major mass market customers for Irwin include CVS, Walmart, Walgreens, and Costco Canada [3]. Rationale for the Transaction - The product lines of FitLife and Irwin are largely complementary, with Irwin strong in weight loss, sexual wellness, and body cleanse segments, while FitLife focuses on sports nutrition [5]. - The acquisition is expected to enhance revenue growth through complementary channel strengths, particularly in the food, drug, and mass market channels where FitLife currently has minimal revenue [6]. - FitLife anticipates operational synergies that will allow for more profitable operations of Irwin, including an expected reduction of approximately $1.5 million in SG&A costs [7]. Financing Arrangements - The transaction will be funded through a combination of cash on hand and a new committed term loan of $40.625 million, along with an upsized $10 million revolving credit facility from First Citizens Bank [8][9]. - Pre-synergy total leverage at closing is expected to be less than 2.25x EBITDA [8]. Company Performance Expectations - For the second quarter of 2025, FitLife expects a year-over-year revenue decline of approximately 4-5%, attributed mainly to the performance of a specific product under the Dr. Tobias brand [11][12]. - The company anticipates net income for the second quarter to be between $1.6 - 1.8 million, including transaction-related expenses [12].

Core Insights - Dime Community Bancshares, Inc. has announced the establishment of a new Lender Finance vertical, appointing Jason Brenner and Zack Schwartz as Co-Heads to enhance its commercial lending business [1][3] Company Developments - Jason Brenner previously served as Managing Director and Head of Originations for Non-Real Estate Lender Finance at AXOS Bank, while Zack Schwartz was Director and Underwriting Team Lead at First Citizens Bank [2] - Both executives will be based in Manhattan and report to Shawn Gines, Executive Vice President of Corporate and Specialty Finance [2] Strategic Focus - The addition of Brenner and Schwartz is aimed at diversifying Dime's commercial lending offerings, with a specific focus on lender finance to support private equity and private credit clients [3] - Dime now has five distinct lending verticals: Healthcare, Lender Finance, Mid-Corporate, Fund Finance, and Not-For-Profit Lending, which are expected to contribute to future growth [3] Company Profile - Dime Community Bancshares, Inc. is the holding company for Dime Community Bank, which has over $14 billion in assets and holds the number one deposit market share among community banks in Greater Long Island [4]