Commercial banks
Charter Bancshares, Inc. has executed a definitive agreement to acquire Texas Bank, a Baytown-based bank, for approximately $4.7 million in cash. The transaction, subject to regulatory and shareholder approvals, is expected to close in mid-year 1996. As of September 30, 1995, Texas Bank had total assets of approximately $37
Commercial banks
The board of directors of Pinnacle Financial Services Inc. has approved the payment of a regular cash dividend of 19 cents per share to all shareholders of record on December 22, 1995, with a payment date of January 2, 1996. As a result of the public stock offering to finance
Commercial banks
Wells Fargo & Co., a major banking firm, has filed its Exchange Offer with the Securities and Exchange Commission (SEC) for the acquisition of all outstanding shares of First Interstate Bancorp. This move is in response to a competing offer from First Bank System, and Wells Fargo aims to assure
Bank holding companies
The S&P 500 Index will undergo changes following the merging of First Chicago Corp. and NBD Bancorp Inc. into First Chicago NBD Corp., which will be listed on the index alongside Humana Inc. This update is set to be implemented after the close of trading on November 30,
Bank holding companies
The Co-operative Bank of Concord and Bank of Braintree have finalized a major acquisition deal, with The Co-operative Bank forming a new holding company, Walden Bancorp, to facilitate the transaction. The deal, approved by shareholders of both banks, will combine the assets of both institutions, creating a premier community banking
Bank holding companies
Milton Federal Financial Corp., the parent company of Milton Federal Savings Bank, has announced a special dividend of $1.00 per share for its shareholders. This dividend will be paid on December 8, 1995, to all shareholders recorded as of November 27, 1995. In addition, the company has launched a
Bank holding companies
Wells Fargo & Co., a major financial services company, has taken a significant step in its bid to acquire First Interstate Bancorp, a leading bank holding company. On November 13, 1995, Wells Fargo publicly announced its intention to directly approach First Interstate stockholders with an exchange offer. Under this proposal,
Bank holding companies
First Bank System and First Interstate Bank have entered into a definitive agreement to merge, resulting in a new institution with assets of $92.4 billion and a presence in 21 states. The merger, subject to shareholder and regulatory approvals, is expected to close in the second quarter of 1996.
Bank holding companies
Wells Fargo & Co., a leading financial services company, has expressed its disagreement with First Interstate Bancorp's decision to merge with First Bank System Inc. Wells Fargo believes that this merger does not serve the best interests of First Interstate's shareholders, citing a more attractive offer
Commercial banks
Computer Associates International, the world's leading business software company, has announced that Zions Bancorporation, a $5.7 billion banking conglomerate, has met its corporate objectives by reducing expenses and improving efficiency after completing the implementation of CA enterprise-wide software solutions across all its business operations. Zions Bancorporation utilized
Commercial banks
Fifth Third Bancorp has signed a definitive agreement to acquire NBD Bank's Ohio operations, expanding its presence in the region. The acquisition includes 25 offices in Columbus and Dayton, with deposits totaling $542 million. Upon completion, Fifth Third will operate a combined 38 full-service Banking Centers in Columbus,
Bank holding companies
Houston-based Western National Life Insurance Company has announced an agreement with TCF, one of the nation's leading annuity providers, to develop a private-label fixed annuity. This partnership will expand Western National Life's product distribution by 141 branches, leveraging TCF's extensive retail financial services network.
