Bank holding companies
The recent withdrawal of Banc One's $5 billion offer for Bank of Boston has put the brakes on merger mania in the US banking industry. Analysts suggest that Bank of Boston's demand for a sweeter deal led to Banc One's decision to abandon its
Bank holding companies
The proposed merger between Corestates Financial Corporation and the Bank of Boston Corporation has been met with skepticism by investors and analysts, who are concerned about the deal's feasibility and potential risks. Despite the boards of both banking companies planning to meet tomorrow to approve a final agreement,
Bank holding companies
Bancorp Hawaii, Inc. reported a 16.4% decrease in 1995 second quarter earnings compared to the same period last year, with earnings per share standing at $0.68. Despite the decline, the company's interest rate margin widened substantially to 3.80% for the quarter, indicating a successful rebalancing
Bank holding companies
Sumitomo Bank Capital Markets, a division of Sumitomo Bank Limited, has selected Chipcom's switching systems as the foundation for its worldwide financial trading network. The network links traders, risk managers, and back-office administrative personnel to trade processing histories, real-time stock market information, and other market data applications. This
Commercial banks
Bank of America and NationsBank have finalized their acquisition of MECA Software, Inc., a Connecticut-based developer of financial management software. The acquisition follows an announcement in May to purchase the company, known for its award-winning Managing Your Money software. Paul Harrison, President and CEO of MECA Software, emphasized the importance
Commercial banks
NationsBank has agreed to purchase CSF Holdings, the parent company of Citizens Federal Bank, a move that will significantly enhance its market share and presence in Florida. The acquisition, valued at $516 million, will expand NationsBank's presence in Florida by over $4 billion in assets and $3 billion
Commercial banks
Laurentian Bank of Canada has reached an agreement with North American Life Assurance Company to acquire its subsidiary North American Trust Company for approximately $4.5 billion. The deal, which includes assuming all $2.8 billion in deposit liabilities and $1.7 billion in performing loans, marks a significant expansion
Commercial banks
FirstFederal Financial Services Corp has announced the appointment of James J. Little as executive vice president in charge of business development, effective immediately. Little brings a wealth of experience in financial management, mergers, and acquisitions to the role, having served as president and CEO of Falls Savings Bank and Falls
Commercial banks
SDN Bancorp and its subsidiary San Dieguito National Bank have announced a letter of intent with Dartmouth Capital Group L.P. led by Robert P. Keller. The proposed transaction aims to recapitalize San Dieguito National Bank by having Dartmouth Capital Group purchase shares of common stock and convert at least
Commercial banks
Beverly Hills Bancorp, a financial institution based in California, held its annual meeting on June 1, 1995, where shareholders voted against selling their holdings in Tigera Group, Inc. However, prior to the meeting, the bank received an offer from Qualis Care L.P. to acquire the shares for a higher
Commercial banks
First Commercial Bancorp Inc., the holding company for First Commercial Bank, has filed a registration statement with the Securities and Exchange Commission for an offering of up to 4,110,000 shares of its common stock. The offering aims to raise up to $9,124,200 of additional capital for
Commercial banks
First Commercial Corporation, a leading bank holding company based in Arkansas, announced its plans to acquire FDH Bancshares, Inc. and its five banks, totaling $382 million in consolidated assets. The acquisition aims to expand First Commercial Corporation's presence in new geographic areas, leveraging the strong market opportunities and
