The hidden jewel of value investing, community banking covers the latest developments in America’s consolidating financial sector.
As part of the conversion and reorganization, the Bank would become a wholly-owned subsidiary of a new holding company. Shares of common stock of the Company held by persons other than the MHC (whose shares would be canceled) would be converted into shares of common stock of the new holding company pursuant to an exchange ratio generally intended to preserve the percentage ownership interests.
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Trump Trade, Consumer Spending, and a Conversation with Cheryl Pate of Angel Oak Capital Advisors I am reasonably sure that this week marks the first time a sitting President has called members of the central bank boneheads. In a Twitter tirade this week, Donald Trump said, “The USA should always be paying the lowest rate….
Deal Serves Rust Belt Communities The First Defiance merger terms are now available. Financial Corp (FDEF) and United Community Financial (UCFC) are set to merge. The two companies signed an agreement that will see United Community merge into First Defiance in a stock-for-stock transaction. Under the terms of the merger agreement, shareholders of United Community…
BB&T (BBT) and Suntrust (STI) have received shareholder approvals for their mega-merger. The next hurdle will require action by the regulators. To make the overseers happy with the deal, the new firm must sell a lot of branches. But determining which assets to divest will be a challenge given the state of the banking markets. The…
It’s the 13th deal this year between a credit union and a small bank Bank M&A is heating up, and credit unions are leading the way. This week, Elevations Credit Union announced that it is buying the assets of the $120-million Cache Bank and Trust in Greeley, Colorado. The target bank specializes in commercial lending….