Banking industry
Great American Bancorp, the holding company for First Federal Savings Bank of Champaign-Urbana, has announced that its Board of Directors has authorized the repurchase of up to 151,076 shares of its common stock, representing ten percent of the company's outstanding shares. This move is aimed at reducing
Banking industry
Cornerstone Bank, a well-established institution in Stamford, Connecticut, has taken a significant step in its organizational structure by forming a holding company, Cornerstone Bancorp Inc. The move, announced by President Norman H. Reader on August 20, 1998, aims to provide flexibility for the bank's future financial and competitive
Banking industry
Columbia Pipe and Supply Company, a Chicago-based supplier of pipe and related products, has partnered with Northern Trust Retirement Consulting (NTRC) to develop employee investment education materials for their defined contribution plan. The move aims to enhance employee understanding and participation in the plan, which currently holds $20.6 million
Banking industry
Brilliance China Automotive Holdings Limited, a leading manufacturer and distributor of minibuses in the People's Republic of China, has announced a proposed public offering of 8,000,000 shares of Common Stock. The company, which owns a 51% interest in Shenyang JinBei Passenger Vehicle Manufacturing Company, Ltd., a
Banking industry
Pacific Bank, N.A. has finalized the acquisition of Sterling West Bancorp, the holding company of Sterling Bank in Los Angeles, California. The transaction, valued at $12.3 million, or $7.11 per share, was completed in cash, expanding Pacific Bank's presence in California and boosting its assets
Bank holding companies
Cleveland, once a hub for two of the nation's major bank holding companies, National City Corp. and KeyCorp, may soon see its duopoly challenged as the pace of consolidation in the finance sector reaches a fever pitch. Industry observers speculate that it will be difficult for the two
Bank holding companies
West Coast Bancorp, the Northwest-based multi-community bank holding company, reported a net income of $2,747,000 in the first quarter of 1998, with earnings of $0.21 per diluted share. This included merger-related costs of $569,000 and a merger-related increase in the provision for loan losses of $1,
Bank holding companies
Union Planters Corporation, a multi-state bank holding company, has announced its record first quarter 1998 earnings, with net earnings of $74.6 million, a 12.4% increase from the same period in 1997. The company's diluted earnings per common share were $.86 per share, compared to $.79 per
Commercial banks
A devastating series of tornadoes ripped through Central Florida on Monday morning, leaving a trail of destruction in its wake. The storm damaged properties in Seminole, Osceola, Volusia, and Orange counties, affecting thousands of residents. In response to the disaster, First Union Corporation, a subsidiary of First Union Corp. (NYSE:
Commercial banks
National Australia Bank Limited has formally completed its acquisition of HomeSide, Inc., a leading residential mortgage producer and servicer based in Florida. The acquisition, which involved the purchase of HomeSide shares for $27.825 per share or a total of $1.227 billion, marks a significant expansion for the National
Commercial banks
Pacific Century Financial Corp., a regional financial services holding company, has unveiled a comprehensive two-year reorganization and restructuring program aimed at improving efficiency and reducing costs. The plan involves the merger of First Federal Savings & Loan with Bank of Hawaii, the closure of approximately 25 branches in the state,
Commercial banks
First Commercial Corporation, a $6.9 billion bank holding company, has declared a quarterly cash dividend of 28 cents per share for shareholders of record as of March 17, 1998. The payment will be made on April 1, 1998. Additionally, the company has authorized the repurchase of up to 1.
