Banking industry
NationsBank, a significant player in the US financial industry, has announced the creation of TradeStreet Investment Associates, Inc., a subsidiary dedicated to serving the institutional marketplace. With over $30 billion in initial assets under management, TradeStreet is poised to become a major force in investment management, offering a range of
Bank holding companies
Milton Federal Financial Corp., the parent company of Milton Federal Savings Bank, has announced a special dividend of $1.00 per share for its shareholders. This dividend will be paid on December 8, 1995, to all shareholders recorded as of November 27, 1995. In addition, the company has launched a
Bank holding companies
Wells Fargo & Co., a major financial services company, has taken a significant step in its bid to acquire First Interstate Bancorp, a leading bank holding company. On November 13, 1995, Wells Fargo publicly announced its intention to directly approach First Interstate stockholders with an exchange offer. Under this proposal,
Banking industry
National Health & Safety Corporation (NHS) has announced an agreement with First Fidelity Bank, N.A., to provide First Fidelity customers access to NHS's POWERx Medical Benefits Network. The roll-out of the POWERx program will offer up to 50% discounts on various healthcare services, including pharmacy, dental care,
Banking industry
Mission Energy Company has successfully completed the commercial bank financing of the $145-million 150-megawatt Auburndale project in Florida. The project, located near the city of Auburndale, sells electricity to Florida Power Corporation and steam to two local industrial companies, Coca-Cola Foods and Todhunter International, Inc. The project began operations in
Bank holding companies
First Bank System and First Interstate Bank have entered into a definitive agreement to merge, resulting in a new institution with assets of $92.4 billion and a presence in 21 states. The merger, subject to shareholder and regulatory approvals, is expected to close in the second quarter of 1996.
Bank holding companies
Wells Fargo & Co., a leading financial services company, has expressed its disagreement with First Interstate Bancorp's decision to merge with First Bank System Inc. Wells Fargo believes that this merger does not serve the best interests of First Interstate's shareholders, citing a more attractive offer
Commercial banks
Computer Associates International, the world's leading business software company, has announced that Zions Bancorporation, a $5.7 billion banking conglomerate, has met its corporate objectives by reducing expenses and improving efficiency after completing the implementation of CA enterprise-wide software solutions across all its business operations. Zions Bancorporation utilized
Commercial banks
Fifth Third Bancorp has signed a definitive agreement to acquire NBD Bank's Ohio operations, expanding its presence in the region. The acquisition includes 25 offices in Columbus and Dayton, with deposits totaling $542 million. Upon completion, Fifth Third will operate a combined 38 full-service Banking Centers in Columbus,
Commercial banks
CIGNA Worldwide Insurance Company and Philippine Commercial International Bank (PCIBank) have finalized a joint venture agreement to sell life insurance products and related services in the Philippines. The new joint venture, PCIB CIGNA Life Insurance Corporation, will operate in Manila and offer superior coverages to protect the financial security of
Commercial banks
Bailey Capital Corporation has formed a partnership with a major financial company to purchase and refund $34 million in Texas Housing Agency Multi-Family Housing Revenue Bonds, provided that certain conditions are met. The bonds in question are guaranteed by Mutual Benefit Life Insurance Company, which is currently in rehabilitation. The
Commercial banks
Union Bank and The Bank of California have finalized a ten-year plan to support commitments under the Community Reinvestment Act (CRA). The plan, designated as a community investment, lending, and outreach effort, will be funded at a minimum of 4.5 percent of the combined banks' assets each year
