FleetNet America a subsidiary of ArcBest has been acquired by Cox Automotive | $100 Million | 02/28/2023

The Labor Department reported that <strong>initial jobless claims</strong> declined again last week, posting its sixth straight week with fewer than 200,000 claims. Employers continue to hoard workers. Labor supply is not increasing in any meaningful way and there is no evidence this will change any time soon. Claims in regular state programs decreased 2,000 to 192,000 for the week ending February 18th, after reporting an upwardly revised 195,000 initial claims the prior week. The four-week moving average climbed to 191,250 from 189,750 the prior week. The total number of people continuing to receive regular ongoing state benefits, a report which is lagged one week, decreased by 37,000 to 1.654 million for the week ending February 11th.

Stephens announced that Brad Eichler has been named Chief Operating Officer (COO), effective May 1, 2023. Mr. Eichler has led Stephens’ Investment Banking practice since 2015 and succeeds Curt Bradbury, who has held the COO role since 1995. Mr. Bradbury will become Vice Chairman of Stephens and remain on the Board. This leadership transition reflects Stephens’ long-term growth initiatives and an organizational alignment focused on future performance.

LINKBANCORP, Inc. has merged with Partners Bancorp | $168 Million | 02/22/2023

The Labor Department reported that <strong>initial jobless claims</strong> declined slightly last week, posting its fifth straight week with fewer than 200,000 claims. The labor market continues to be very tight even as the Fed raises rates to slow the economy. Claims in regular state programs decreased 1,000 to 194,000 for the week ending February 11th, after reporting a downwardly revised 195,000 initial claims the prior week. The four-week moving average climbed to 189,500 from 189,000 the prior week. The total number of people continuing to receive regular ongoing state benefits, a report which is lagged one week, increased by 16,000 to 1.696 million for the week ending February 4th.