Banking industry
Shareholders of Peoples Bancorp and Three Rivers Financial Corp. have overwhelmingly approved the merger between the two companies. Over 95 percent of voting shareholders approved the deal, which will result in Peoples Bancorp being the surviving holding company, operating Peoples Federal Savings Bank and First Savings Bank as two separate
Banking industry
Virginia Commonwealth Financial Corporation (Nasdaq: VCFC) and Caroline Savings Bank have jointly announced the consummation of their affiliation. In a tax-free exchange, Caroline shareholders received 0.7959 shares of Virginia Commonwealth Financial Corporation stock for each share of Caroline Savings Bank. The affiliation brings together Caroline Savings Bank, Second Bank
Banking industry
In a dramatic turn of events, Royal Bank of Scotland appeared to have taken a substantial lead in its bid for National Westminster, with a source close to the bid process indicating that the bank had already won the support of shareholders owning more than 20% of NatWest. Schroders, NatWest&
Banking industry
Bank of Scotland has gained the backing of a major shareholder, Phillips & Drew Fund Management (PDFM), in its bid to take over NatWest. PDFM, one of Britain's largest pension fund managers, holds 2.3 percent of NatWest's shares and has a stake in Bank of
Banking industry
NatWest, a major British bank, has rebuffed two increased offers from Scottish banks Bank of Scotland and Royal Bank of Scotland, citing concerns over the financial viability and integration risks of a merger. The bank's chairman and chief executive, Sir David Rowland, emphasized the potential dangers of a
Banking industry
The battle for National Westminster Bank (NatWest) has reached its final stages as two rival banks, Royal Bank of Scotland (RBS) and Bank of Scotland (BoS), have increased their bids. RBS raised its offer by £1.25 billion, while BoS increased its offer by £933 million. The offers are part
Banking industry
Eastern Bank recently announced a partnership with Intuit to provide Quicken TurboTax for the Web to its customers through its website, easternbank.com. This agreement enables taxpayers to prepare and file their federal and state income tax returns online, allowing for a faster and more convenient tax preparation process. In
Banking industry
Flagstar Bancorp, Inc. has officially opened its newest banking center in Canton, Michigan, a strategic move to expand its presence in the Detroit tri-county area. The new center, located at 42000 Ford Rd., offers extended operating hours of 7:30 a.m. to 7:30 p.m., Monday through Friday,
Banking industry
Berkshire Hathaway's Wesco Financial Corp. has agreed to purchase CORT Business Services Corp., a national provider of rental furniture, for $467 million, including $83 million in assumed debt. The acquisition reflects Berkshire Hathaway's expansion into the furniture rental market, further solidifying its position in the insurance
Banking industry
FSF Financial Corp., parent company of First Federal fsb, announced the results of its annual meeting and the payment of a quarterly dividend at the Hutchinson, Minnesota-based company's sixth annual stockholder meeting. The annual meeting saw the re-election of Sever B. Knutson and George B. Loban to the
Banking industry
ETrade Group Inc., a major online brokerage firm, has recently acquired Telebanc Financial Corp., creating the first purely Internet-based financial services company. As a condition of its approval, the Office of Thrift Supervision has required the new company to make clear distinctions between government-insured financial products, such as bank deposits,
Banking industry
Webster Bank has entered into an agreement with Intuit to provide its customers with access to Quicken TurboTax for the Web, a digital version of the popular tax preparation software. This online service will enable users to prepare and file federal and state income tax returns with ease, providing a
