Banking industry
Premier Bancshares Inc. has announced a definitive agreement to acquire Farmers & Merchants Bank for $56 million, based on the bank's closing stock price. This deal comes as LHS Group Inc. has signed a similar agreement to acquire Priority Call Management Inc. for 5.2 million diluted shares,
Banking industry
As the world of finance and technology continued to grow and develop in the late 1990s, companies were increasingly seeking innovative ways to communicate with investors and the financial community. In April 1999, Vcall, a leading provider of investor communication services, announced the schedule for several conference calls to be
Banking industry
The six largest regional banks in the US have reported positive earnings results, driven by improved capital markets and fees from the acquisitions of regional investment banks. According to analysts, a strengthening economy with low inflation has contributed to higher loan growth at regional banks. First Union, Keycorp, BankBoston, National
Banking industry
LSB Bancshares, Inc., the parent company of Lexington State Bank, reported significant increases in earnings and deposits for the first quarter of 1999, with net income reaching $2,258,000, or $.26 per diluted share, a 30% increase from the same period in 1998. The bank's total assets,
Banking industry
Compass Bank has named Peter R. Bauer executive vice president for retail investment sales and chief executive officer of Compass Brokerage, Inc. This appointment was announced by D. Paul Jones, Jr., Compass Bank chairman and chief executive officer. With 20 years of senior management experience in financial and investment services,
Banking industry
The highly publicized case against Charles Keating Jr., former Lincoln Savings & Loan chief, came to a close when he pleaded guilty to four counts of fraud. As part of the agreement, Keating will go free after serving time for previous convictions, which will be deducted from his new sentence.
Banking industry
United National Bancorp, a $2 billion asset commercial bank holding company, has completed its acquisition of Raritan Bancorp Inc., a $435 million asset bank holding company headquartered in Bridgewater, New Jersey. The acquisition, which was approved by shareholders of both companies, has added Raritan Savings Bank's seven offices
Banking industry
Home Savings Bank of Siler City, Inc., a Siler City, North Carolina-based bank, has announced that its shareholders have voted in favor of the acquisition by Capital Bank Corporation. The deal, which values Home Savings at $1.28 per share, will see Capital Bank shareholders receive 1.28 shares of
Banking industry
Two North Carolina-based banking companies, Centura Banks Inc. and BB&T Corp., have expanded their presence in Virginia through separate acquisitions of financial institutions. Centura completed its merger with First Coastal Bankshares Inc. of Virginia Beach in an exchange of stock worth $114 million, while BB&T acquired
Banking industry
The First American Financial Corporation has solidified its position as a leading provider of real estate-related information products and services through the acquisition of Potter Title Company in Michigan. This strategic move allows First American to effectively compete in the service-sensitive market and doubles its market share in the Lapeer
Banking industry
Nationwide Building Society has announced the launch of a mortgage product that links to European interest rates, with payments made in sterling. The new mortgage will be available from 24 March, starting at a discounted rate of 3.75 per cent, which will increase to 4.75 per cent after
Banking industry
The First American Financial Corporation, the leading provider of real estate-related financial and information products and services, has announced its acquisition of Security Abstract and Title Company, Inc. in Wichita, Kansas. This strategic move will enable the company to establish and build market share in the Wichita area, leveraging Security
