Banking industry
The French insurance group AXA has backed the Banque Nationale de Paris's (BNP) bid to acquire French banks Societe Generale and Paribas, which would create the world's largest bank with over $1 trillion in assets. The takeover bid, worth $37.2 billion, requires approval from the
Banking industry
Banque Nationale de Paris S.A. has made a surprise bid to acquire two of its largest French rivals, Societe Generale S.A. and Paribas S.A., in a move that would create the largest bank in the world with over $1 trillion in assets. The offer, valued at $37
Banking industry
Nationwide, the UK's largest building society, and Marks and Spencer, a leading retailer, have announced a significant partnership to introduce automated teller machines (ATMs) into all 389 Marks and Spencer stores across the UK. This move will provide customers with a convenient and accessible way to withdraw cash,
Banking industry
Commercial Federal Corporation, a leading financial services provider, has finalized the acquisition of Midland Bank, a privately held commercial bank based in Missouri. This strategic move marks a significant expansion of Commercial Federal's presence in the Kansas City metropolitan market. The acquisition brings together the strengths of both
Banking industry
Damen Financial Corporation, a $220 million bank holding company, has announced that it will be acquired by MidCity Financial Corporation in an all-cash deal valued at $51.9 million. The acquisition is expected to close in the second quarter of 1999, pending regulatory approvals. Under the terms of the agreement,
Banking industry
Maxus Investment Group Inc., a Cleveland-based asset management and investment firm, has recently disclosed that six of its individual clients received a combined $50 million in stock as part of an acquisition. The group had initially invested just $2.5 million in 1985 for an 80% stake in Comstock Bancorp,
Banking industry
Alabama National BanCorporation has announced a 20% increase in the company's quarterly cash dividend, with a new rate of $0.18 per share, representing an annual dividend rate of $0.72. This follows four consecutive annual dividend increases since 1995. The dividend is payable to stockholders of record
Banking industry
United National Bancorp, a commercial bank holding company headquartered in Bridgewater, New Jersey, has entered into a multi-year agreement with The BISYS Group to provide integrated information processing services, item processing, and deposit services. According to Thomas C. Gregor, chairman and chief executive officer of United National, the partnership will
Banking industry
First Tennessee Bank has announced plans to open six more branches in Kroger stores this year, including two in Shelby County, three in Nashville, and one in Franklin, near Nashville. This move marks a significant expansion into grocery store banking, a space traditionally dominated by National Bank of Commerce. First
Banking industry
Emerald Financial Corp., the parent company of Strongsville Savings Bank, is set to expand its operations with the opening of new branches, a name change, and a renewed focus on winning over investors on Wall Street. Despite concerns from executives about alienating old friends on Main Street, the company is
Banking industry
BankUnited Financial Corporation, parent company of BankUnited, FSB, will host a conference call on Thursday, February 4, 1999, to discuss the recently announced anticipated restructuring. The call will be led by Chairman and Chief Executive Officer Alfred R. Camner and President and Chief Operating Officer Mehdi Ghomeshi. Analysts and stockholders
Banking industry
Schenectady Federal Savings Bank's parent company, SFS Bancorp, Inc., announced a significant increase in net income in 1998, driven by a combination of factors including growth in interest-earning assets and a decline in noninterest expense. The company's net income for the year ended December 31, 1998
