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ATB Financial closes out fiscal year 2022 with record results and helps propel Alberta into the future

ATB Financial closes out fiscal year 2022 with record results and helps propel Alberta into the future
Canada NewsWire
EDMONTON, AB, May 26, 2022

EDMONTON, AB, May 26, 2022 /CNW/ – ATB Financial wrapped up the fiscal year ending March 31, 2022 by d…



ATB Financial closes out fiscal year 2022 with record results and helps propel Alberta into the future

Canada NewsWire

EDMONTON, AB, May 26, 2022 /CNW/ - ATB Financial wrapped up the fiscal year ending March 31, 2022 by delivering record results which reflect positive momentum returning to the Alberta economy.

A Look Back: The Numbers
Built to help Albertans, ATB Financial reported net income of $586.4 million. Its total revenue grew to $1.9 billion (up 7.1% from last year)—with growth being well diversified between net interest income and other income. The enterprise recorded a loan loss provision recovery of $204 million as a result of its clients' improved credit quality and its ongoing efforts to support Albertans. 

This past fiscal year, the company provided Albertans with $22.8 billion in new and renewed loans, and helped distribute much needed relief program funds amidst COVID-19. ATB Financial administered nearly $1.7 billion (total to date) through the Canada Emergency Business Account (CEBA), the Highly Affected Sectors Credit Availability Program (HASCAP), the Business Credit Availability Program (BCAP) and the Business Development Bank of Canada Mid-Market Financing Program (BDC).

"ATB Financial has emerged from the pandemic in a strong position to help drive Alberta's economic recovery. We are committed to empowering businesses with expert advice and solutions that will help them grow and prosper,"said ATB Financial CEO and President Curtis Stange. "With impressive results from our core industries of energy and agriculture, growth in both commercial and residential real estate, and rapidly growing technology and clean tech sectors, Alberta is positioned to thrive in this fast changing world."

ATB Wealth saw a $1.3 billion increase in its Assets Under Administration (a 5.3% increase from last year)—helping to boost other income while continuing to provide strong wealth management services to clients. Additionally, ATB Financial showed a net increase of 10,200 retail and small business clients (up 1.3% from last year)—a testament to the company's ongoing commitment to client relations.

With its strong focus on expense management, as reflected by consistent efficiency ratio year over year, ATB Financial continues to build a sound balance sheet with capital at record levels.

For full details, see ATB Financial's 2022 Annual Public Report here

A Look Ahead: Propelling Alberta Into The Future
Today in Edmonton, ATB Financial is hosting a business summit for industry experts, businesses and community leaders to access sector expertise on economics, energy, agriculture, technology and innovation. From the recent impacts of global unsteadiness, to exciting opportunities that have arisen within the province's key industries, ATB is shining the spotlight on topics that will help propel Alberta into the future.

"Being ready for tomorrow requires curiosity, adaptability, and expertise," said ATB Financial President and CEO Curtis Stange. "We know that more volatility and uncertainty are on the horizon but we choose to look at this as a time of incredible possibility and opportunity. Built to help Albertans, ATB Financial is well-positioned to lead through disruption, spark economic growth and drive meaningful change for our clients, and for Alberta."

Fiscal Year 2022 Highlights (see annual report for full list)
Built to help Albertans:

  • Continued to improve the digital experience by migrating nearly 360 thousand personal banking clients to ATB Financial's new personal banking platform and more than 55 thousand business clients to the new business banking platform.
  • Installed over 160 new automated banking machines to help clients access self-serve options.
  • Funded $3.4 billion in new mortgages (over the full fiscal year), with the month of June shattering a seven-year record for mortgage applications.
  • ATB Investment Management Inc., a subsidiary of ATB Financial, won a Refinitiv Lipper award for best mixed asset group for 2021; and in Q1, ATB Wealth business set a new record, with the highest gross assets gathered in the first quarter in nearly 20 years.

Positioning ATB Financial for the future:

In business for the Greater Good:

  • ATB Financial released a first-of-its-kind Indigenous Economic Report, with a third party contributor, which is helping advance the conversation of the critical role Indigenous communities play in Alberta.
  • Raised $4.8 million for charities through ATB Cares and $596 thousand through team member fundraising and giving efforts in support of organizations that are uplifting the well-being of Alberta communities.
  • ATB Financial and its team members donated nearly $150 thousand to the Canadian Red Cross Ukraine Humanitarian Crisis Appeal.

About ATB Financial
With $57.1 billion in assets, ATB Financial is an Alberta-built financial institution that is a catalyst for economic growth in our province. We got started in 1938 to help Albertans through tough economic times. Today, ATB Financial's 5,000 team members love to deliver exceptional experiences to 810,000 clients through our many branches and agencies, our 24-hour Client Care Centre, four entrepreneur centres, and our digital banking options.

For more information or interview requests, please contact:
ATB Financial, Media Relations 

SOURCE ATB Financial

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The One Housing Chart That Shows A ‘Buyer’s Market’ Has Returned

The One Housing Chart That Shows A ‘Buyer’s Market’ Has Returned

The red hot pandemic-era housing market is cooling as historically tight…



The One Housing Chart That Shows A 'Buyer's Market' Has Returned

The red hot pandemic-era housing market is cooling as historically tight available inventory shows signs of reversing. 

An affordability crisis has removed millions of new home buyers as the number of active US listings soared 18.7% in June from a year earlier, the most significant increase in's data going back to 2017, according to Bloomberg. The days of insane bidding wars, waiving home inspections, and putting in an offer 20% or more over the list price appear to be over. In other words, a buyer's market could be emerging. 

"While we anticipate that more inventory will eventually cool the feverish pace of competition, the typical buyer has yet to see meaningful relief from quick-selling homes and record-high asking prices," said Danielle Hale, chief economist for 

Austin, Texas; Phoenix, Arizona; and Raleigh, North Carolina saw active listings more than double from a year ago. Nashville, Tennessee, active listings jumped 86%, and 72% in the Riverside, California. 

The Federal Reserve's most aggressive tightening campaign sent the 30-year fixed-loan mortgage rate from 3% to over 6% this year (back in March, we warned coming rate explosion would trigger a housing affordability crisis), removing millions of new home buyers who can't afford the cost of homeownership as the median existing-home sales price was around $407k in May. 

Even though inventory is historically tight, supply is expected to increase in markets across the country as demand for loan applications among prospective buyers slumps. Fewer buyers equal more inventory. 

The takeaway is that inventory is rising as homes stay on the market longer because demand evaporated thanks to the housing affordability crisis -- this could mean a housing top is nearing. 

Tyler Durden Thu, 06/30/2022 - 18:50

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States Need To Avoid ‘Cures’ That Can Make Inflation Worse

States Need To Avoid ‘Cures’ That Can Make Inflation Worse

Authored by Regina M. Egea and Danielle Zanzalari via,




States Need To Avoid 'Cures' That Can Make Inflation Worse

Authored by Regina M. Egea and Danielle Zanzalari via,

Across the United States, state governments are awash in cash. In a sharp contrast, American taxpayers are enduring a rate of inflation unseen in four decades, with the costs of everything from food to gasoline at record highs.

In our home state of New Jersey, Trenton is looking at an unprecedented surplus of $8 billion through a combination of increased tax revenue, federal pandemic aid and borrowing.

A natural impulse among residents and policymakers is to offer residents “relief” in the form of rebate checks.

The reality is that relying exclusively on rebates or direct cash transfers to individuals will only lead to more inflation as this puts more money in consumers’ hands exacerbating the same problem as today - too many dollars chasing too few goods.

Rather, it is prudent that states focus on long-term investment and responsible budgeting to ensure economic growth now and in the future. This is especially important in high tax, big spending states due to the greater flexibility in work arrangements that have exposed the reality that wealth is mobile.

With more residents fleeing high tax states to low tax states, states will need to reevaluate their tax and regulatory climate to stay competitive. 

Regulation can raise the costs for consumers and slow job growth. A series of studies shows the regulation raises prices and worsens poverty.

Working with local governments to revisit restrictive laws that contribute to higher housing prices, such as building height restrictions and zoning rules, as well as removing unnecessary restrictions on business operations will lead to more economic growth.

Another way states can aid productivity and long-term economic growth with their temporary budget surplus, is to fund training programs for middle-skilled jobs.

Nearly every industry has experienced labor shortages and that reality is especially acute in trades like auto, refrigeration, HVAC, electrical, welding, and manufacturing.

States can invest in these skills through high school and vocational school programs. With college borrowing costs astronomically high, this encourages individuals to pursue careers that are lucrative and budget friendly, as well as fill the over 75,000 job openings that our state of New Jersey is projected to need in just a few years.

To further long-term economic growth many states should also concentrate on fixing their unfunded pension liabilities for public employees. This impacts red and blue states alike, with massive liabilities in California ($1.53 trillion), Illinois ($533.72 billion), Texas ($529.70 billion), New York ($508.70 billion) and Ohio ($429.53 billion). Here in New Jersey, our liability is nearly $40,000 for every resident of the state, which can dramatically deter future growth. Beyond using some of states’ budget surplus to shore up pension liabilities, states should move public employees to defined contribution plans, which are used by more than 100 million Americans. These are found to have better investment returns than state-wide pension plans and cost taxpayers less.

Our final recommendation is perhaps our most important: Save for a rainy day. If the U.S. economy enters into a recession, this will mean fewer jobs and less tax revenue for states. To prepare for the future when states again face a budget shortfall, which may be sooner than we think, states should follow best practices of reserving 10% of their budget in a rainy day fund, to sustain essential programs should a downturn occur in the future.

As state leaders consider their budgets, they should focus on long-term economic growth initiatives. Proposals like funding middle-skilled job trainings ensure workers are ready for the next decade, whereas eliminating unnecessary regulations and focusing on pro-growth tax reforms encourages residents to build businesses and create jobs. Lastly, taking care of state finances by properly funding state employees’ retirement plans and saving for a rainy day will ensure that no state is left behind in the next economic downturn.

Tyler Durden Thu, 06/30/2022 - 17:50

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Aging-US | Time makes histone H3 modifications drift in mouse liver

BUFFALO, NY- June 30, 2022 – A new research paper was published in Aging (Aging-US) on the cover of Volume 14, Issue 12, entitled, “Time makes histone…



BUFFALO, NY- June 30, 2022 – A new research paper was published in Aging (Aging-US) on the cover of Volume 14, Issue 12, entitled, “Time makes histone H3 modifications drift in mouse liver.”

Credit: Hillje et al.

BUFFALO, NY- June 30, 2022 – A new research paper was published in Aging (Aging-US) on the cover of Volume 14, Issue 12, entitled, “Time makes histone H3 modifications drift in mouse liver.”

Aging is known to involve epigenetic histone modifications, which are associated with transcriptional changes, occurring throughout the entire lifespan of an individual.

“So far, no study discloses any drift of histone marks in mammals which is time-dependent or influenced by pro-longevity caloric restriction treatment.”

To detect the epigenetic drift of time passing, researchers—from Istituto di Ricovero e Cura a Carattere Scientifico, University of Urbino ‘Carlo Bo’, University of Milan, and University of Padua—determined the genome-wide distributions of mono- and tri-methylated lysine 4 and acetylated and tri-methylated lysine 27 of histone H3 in the livers of healthy 3, 6 and 12 months old C57BL/6 mice. 

“In this study, we used chromatin immunoprecipitation sequencing technology to acquire 108 high-resolution profiles of H3K4me3, H3K4me1, H3K27me3 and H3K27ac from the livers of mice aged between 3 months and 12 months and fed 30% caloric restriction diet (CR) or standard diet (SD).”

The comparison of different age profiles of histone H3 marks revealed global redistribution of histone H3 modifications with time, in particular in intergenic regions and near transcription start sites, as well as altered correlation between the profiles of different histone modifications. Moreover, feeding mice with caloric restriction diet, a treatment known to retard aging, reduced the extent of changes occurring during the first year of life in these genomic regions.

“In conclusion, while our data do not establish that the observed changes in H3 modification are causally involved in aging, they indicate age, buffered by caloric restriction, releases the histone H3 marking process of transcriptional suppression in gene desert regions of mouse liver genome most of which remain to be functionally understood.”


Corresponding Author: Marco Giorgio – 

Keywords: epigenetics, aging, histones, ChIP-seq, diet

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About Aging-US:

Launched in 2009, Aging (Aging-US) publishes papers of general interest and biological significance in all fields of aging research and age-related diseases, including cancer—and now, with a special focus on COVID-19 vulnerability as an age-dependent syndrome. Topics in Aging go beyond traditional gerontology, including, but not limited to, cellular and molecular biology, human age-related diseases, pathology in model organisms, signal transduction pathways (e.g., p53, sirtuins, and PI-3K/AKT/mTOR, among others), and approaches to modulating these signaling pathways.

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