Commercial banks
Sierra Tahoe Bancorp, a bank holding company operating in Northern California and Nevada, has announced the adoption of a Shareholder Protection Rights Plan to shield its stockholders from potential takeover attempts by hostile entities. The plan aims to protect the company's interests and value by diluting the influence
Commercial banks
The U.S. Department of Justice (DOJ) Antitrust Division has requested extensive information from Wells Fargo relating to the competitive impact of a potential takeover in 37 California markets. This inquiry raises serious questions about the magnitude of divestitures Wells Fargo may be required to make and its ability to
Commercial banks
StorMedia Incorporated has entered into a significant financial agreement with Bank of America, securing a $20 million unsecured credit facility to replace its previous secured credit facility with Coastfed Business Credit Corporation. As a result of the company's improved financial position, the terms of the new facility are
Commercial banks
Star Bank, N.A. has made a significant move in the Dayton, Ohio market by announcing the opening of five new full-service branch locations within four Cub Foods stores and one Lofino's supermarket. This collaborative effort aims to provide customers with a seamless shopping and banking experience. Mike
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
Banking industry
The highly anticipated Atlanta smart card pilot, led by First Union Corp. and Visa, is set to launch on January 1, but the companies may struggle to persuade consumers to use the stored value cards, which will be issued in denominations of $10, $20, and $50, until a re-loadable feature
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
Banking industry
First Commerce Corporation, a financial institution, has declared a 17% increase in its quarterly cash dividend on common stock, raising the yield to 4.4%. The increased dividend is payable on January 2, 1996, to holders of record on December 15, 1995. This move reflects the company's confidence
Banking industry
Western Pennsylvania residents will have access to a comprehensive range of services at the new Wal-Mart Supercenter, including banking, shopping, and consumer loans, courtesy of First Western Bank's community office. The innovative concept aims to attract and retain customers by providing a 7-day-a-week banking facility within the retail
