Bank holding companies
CCB Financial Corporation, a major bank holding company, and Security Capital Bancorp, a $1.2 billion bank holding company, have jointly announced that they have received the necessary approvals from federal and state regulators for their proposed merger. The merged entity will have assets of over $4.7 billion, making
Bank holding companies
Peoples Heritage Financial Group, a Maine-based banking holding company, has announced its intent to acquire Bankcore, the holding company for North Conway Bank, in a deal valued at $19.5 million, or 1.2 times Bankcore's book value at December 31, 1994. The acquisition will expand Peoples Heritage&
Bank holding companies
Bank of America has launched a groundbreaking system called Amie, which enables mortgage brokers to access current rate and product information, lock in interest rates electronically, and receive immediate confirmation, marking a significant shift towards faster and more efficient mortgage lending processes. Developed in collaboration with Strategic Communications Corporation, Amie
Bank holding companies
BankAmerica Corp.'s recent announcement to implement a common and preferred share repurchase program has been met with a stable credit trend affirmation from Fitch. This decision reflects the corporation's strong growth trend in retained earnings and moderate expectations for earning assets. As part of the program,
Bank holding companies
First Bancorporation of Ohio (FBOH) has successfully completed the acquisition of The CIVISTA Corporation, a savings and loan holding company headquartered in Canton, Ohio. The acquisition involves a tax-free exchange of 1.723 shares of FBOH common stock for each of the 3,573,888 shares of outstanding CIVISTA common
Bank holding companies
Second Bancorp, a banking corporation in Warren, Ohio, has reported record earnings for the fourth quarter and for 1994, as well as record asset size at year-end. The company's net income for the quarter was $1,782,000, a 13 percent increase from the same period in 1993,
Bank holding companies
BankAmerica Corporation achieved a strong financial performance in 1994, with earnings per share increasing by 12% to $5.36. This growth was driven by a 11% increase in net income to $2,176 million, with fourth-quarter earnings per share reaching $1.41. The corporation's net interest income for
Bank holding companies
ARBOR National Holdings Inc. and BankAmerica Corp. have announced the "Average Closing Price" for BAC Common Stock, a crucial component in the calculation of the share exchange ratio for their pending stock merger. The "Average Closing Price" of $40.40 was determined based on the average
Bank holding companies
Jamie B. Stewart, Jr., a seasoned banking professional with over two decades of experience, has been named a vice chairman at Mellon Bank Corporation, responsible for domestic corporate banking, leasing, and middle market banking. In this new role, Stewart joins the Office of the Chairman, overseeing corporate strategies and policies,
Bank holding companies
TCF Financial Corporation (TCF) (NYSE: TCB) has announced that the Office of Thrift Supervision has approved its merger application with Great Lakes Bancorp, a Michigan-based bank. The merger will join TCF's $5.1 billion in assets with Great Lakes' $2.8 billion in assets, creating a stronger
Commercial banks
First Federal Financial Corporation of Kentucky, a $320 million financial holding company, has completed its merger with Bullitt Federal Savings Bank in an all-cash transaction. The merger will provide First Federal access to the growing Bullitt County community and expand its lending activities into a new market. Under the terms
Commercial banks
Intercontinental Bank, one of the largest independent banks in Florida, has expanded its presence in South Florida with the acquisition of Boca Bancorp and its subsidiary, Boca Bank. The deal, valued at $4.9 million, marks the bank's seventh acquisition in three years and its first in Palm
