Bank holding companies
A partnership has been formed to refund the Broward County Housing Finance Authority (Florida) Guaranteed Multifamily Housing Revenue Bonds, Series 1985, related to the Los Prados and Banyan Bay projects. The deal involves agreements with Barnett Bank Trust Company, N.A., as trustee, and MBL Life Assurance Corporation, among others.
Bank holding companies
BankAmerica Corporation's third-quarter earnings have exceeded market expectations, with the company reporting a 26 percent increase in earnings per share to $1.72. This marks a significant improvement from the same period last year, with net income rising 29 percent to $704 million. The company's return
Bank holding companies
NationsBank Corporation, a leading bank holding company, has reported record quarterly earnings of $530 million for the third quarter of 1995, a 23-percent increase over the previous year. The company's strong revenue growth and excellent expense control have driven profitability and efficiency improvements, according to Hugh McColl, chairman
Bank holding companies
Hancock Holding Company, the parent company of Hancock Bank in Gulfport, Miss., Hancock Bank of Louisiana in Baton Rouge, Louisiana, and First National Bank of Denham Springs, Denham Springs, Louisiana, announced impressive financial results for the third quarter of 1995. Net income for the quarter was $6.7 million, a
Commercial banks
BayBank, a leading bank in New England, has announced the introduction of HomeLink, a full-function "real-time" home banking product that will revolutionize the way customers manage their finances from the comfort of their own homes. This innovative product will be available to customers in a MAC or Windows
Commercial banks
Banknorth Group Inc., a leading financial institution in New England, has announced a major expansion into the Massachusetts market with the acquisition of 13 branches from Shawmut Bank. The acquisition, valued at $33.2 million, is Banknorth's first in Massachusetts and marks a significant step in the company&
Commercial banks
North Fork Bancorporation Inc., a commercial bank headquartered on Long Island, has agreed to purchase 10 Long Island branches of First Nationwide Bank with total deposits of approximately $590 million for $37.5 million in cash. This acquisition is part of North Fork's strategy to expand its presence
Banking industry
KeyCorp, a leading financial services company, has completed the acquisition of AutoFinance Group, Inc. (AFG), a specialist in subprime automobile financing. The acquisition marks a significant step in KeyCorp's strategic plan to create a nationwide consumer finance organization, led by Group Executive Vice President A. Jay Meyerson. The
Commercial banks
The parent company of Southern California Bank has announced further restructuring measures to boost ongoing profitability. As part of this plan, SC Bancorp will incur approximately $1.9 million in one-time, pre-tax charges in the third quarter, affecting its quarterly and year-to-date performance. The restructuring actions are aimed at reducing
Banking industry
Hurst, Texas-based Surety Capital Corporation has entered into a contract to acquire First Midlothian Corporation (FMC), a bank holding company located in Midlothian, Texas. The acquisition is part of a larger strategy to expand Surety Capital's presence in the north Texas area. Upon completion of the merger, FMC&
Commercial banks
Reliance Bancorp, Inc., a holding company for Reliance Federal Savings Bank, has announced a 15% increase in its regular cash dividend for the quarter ending September 30, 1995. The new dividend of $0.115 per common share is up from the previous quarter's dividend of $0.100. This
Commercial banks
Enfield Savings Bank, a North Carolina-chartered mutual savings bank, has completed its conversion to a stock savings bank. This significant change was approved by the bank's depositor and borrower members at a Special Meeting on June 23, 1995. As part of the conversion, the bank's holding
