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Allegiant Travel Company Announces Pre-payment of Existing Term Loan

Allegiant Travel Company Announces Pre-payment of Existing Term Loan

LAS VEGAS. April 14, 2014 – Allegiant Travel Company (ALGT) has pre-paid the company`s $125 million senior secured term loan facility, which was scheduled to mature in March 2017.  In addition, the company has borrowed $45.3 million from Wells Fargo Bank.  Both of these transactions occurred on April 11, 2014.

“This decision allows us to refinance more expensive debt and also provides flexibility to maintain future fleet growth as well as return cash to shareholders,” stated Maurice J. Gallagher, Jr., Chairman and CEO of Allegiant Travel Company.  “We are pre-paying our term loan with a payout of the balance of $121.3 million.  After giving effect to these two deals, our total debt balance will be $149 million, which improves the company`s already strong balance sheet.”

The company has paid off the $121.3 million balance of the term loan through a combination of the $45.3 million loan received from Wells Fargo Bank and $76 million of internally generated cash.  The elimination of the term loan unencumbers 53 MD-80 aircraft, as well as four 757 aircraft.  The company has pledged the 53 MD-80 aircraft as collateral under the Wells Fargo Bank loan. 

As of today, the company has 53 encumbered MD-80 aircraft, seven encumbered A320 aircraft, one encumbered A319 aircraft (Airbus aircraft were pledged in previous financings), one encumbered 757 aircraft, and five unencumbered 757 aircraft.

Allegiant, Travel is our deal.®
Las Vegas-based Allegiant Travel Company (ALGT) is focused on linking travelers in small cities to world-class leisure destinations. The company operates a low-cost, high-efficiency, all-jet passenger airline through its subsidiary, Allegiant Air, while also offering other travel-related products such as hotel rooms, rental cars, and attraction tickets. All can be purchased through the company website, allegiant.com. The company has been named one of America`s 100 Best Small Companies by Forbes Magazine for four consecutive years. For downloadable press kit, including photos, visit: http://gofly.us/qSnWj. ALGT/G

Note: This news release was accurate at the date of issuance. However, information contained in the release may have changed. If you plan to use the information contained herein for any purpose, verification of its continued accuracy is your responsibility.

For further information please visit the company`s investor website: http://ir.allegiantair.com/

Reference to the Company`s website above does not constitute incorporation of any of the information thereon into this news release.

Media Inquiries: mediarelations@allegiantair.com
Investor Inquiries: Christopher Allen: ir@allegiantair.com


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Allegiant Travel Company via GlobeNewswire
HUG#1776993

Airline IndustryFinanceAllegiant Travel CompanyWells Fargo [...]

IF Bancorp, Inc. Announces Cash Dividend

WATSEKA, Ill.–(BUSINESS WIRE)–

IF Bancorp, Inc. (NASDAQ Capital: IROQ) (the “Company”), the holding company for Iroquois Federal Savings and Loan Association, today announced that its Board of Directors declared a cash dividend of $0.05 per common share. The dividend will be paid on or about April 15, 2014, to stockholders of record as of the close of business on March 24, 2014. This is the second cash dividend for the Company since the completion of its initial public offering on July 7, 2011.

“We are pleased to pay a cash dividend to our shareholders,” said Alan D. Martin, President and Chief Executive Officer of the Company. “The payment of dividends represents our long-term commitment to enhancing shareholder value and based upon our financial results and capital planning strategies, we will strive to continue to pay dividends on a semi-annual basis.”

Iroquois Federal Savings and Loan Association is a community-oriented financial institution that conducts its operations from its four full-service banking offices located in the municipalities of Watseka, Danville, Clifton and Hoopeston, Illinois and its loan production and wealth management office in Osage Beach, Missouri. Iroquois Federal Savings and Loan Association offers a broad array of retail and commercial lending and deposit services.

Banking & BudgetingFinanceSavings and Loan Associationcash dividend
Contact:

IF Bancorp, Inc.

Walter H. Hasselbring, III

(815) 432-2476 [...]

Avago to Buy LSI in Deal Valued at About $6.6 Billion

Avago Technologies Ltd. (AVGO), a chip
manufacturer that began as a unit of Hewlett-Packard Co. (HPQ), agreed
to buy LSI Corp. (LSI) for $6.6 billion, gaining semiconductors for
disk drives and other electronics.

Avago will pay $1 billion in cash and use a $4.6 billion
bank loan, the companies said in a statement today. Silver Lake
Partners, a private-equity firm that helped acquire Avago before
its initial public offering in 2009, will provide a $1 billion
investment toward the all-cash purchase.

LSI and Avago may be combining to gain more resources as
the cost of designing and building semiconductors rises,
potentially heralding a wave of deals in the industry, said Suji De Silva, an analyst at Topeka Capital Markets Inc. Packaged
together, some of the companies’ storage products may be more
attractive to large Internet data-center operators, such as
Google Inc., he said.

“The question is whether this is the beginning of a
consolidation trend in semiconductors — scale does make
sense,” said De Silva, who recommends buying LSI shares. “This
clearly extended that data-center footprint.”

LSI jumped 39 percent to $10.96 at the close in New York.
The shares of the Milpitas, California-based company had gained
12 percent this year before the acquisition was announced.
Avago, whose stock was up 44 percent for the year before today,
rose 9.7 percent to $50.10.

Semiconductor Deals

The transaction marks the year’s second-biggest deal for
the semiconductor industry, following the $9.4 billion
acquisition of Tokyo Electron Ltd. (8035) by Applied Materials Inc. (AMAT) in
September. Avago’s purchase of LSI would create a business with
about $5 billion in annual revenue and provide Avago with a
range of storage chips that it can sell to data-center
customers. Avago, which operates dual headquarters in Singapore
and San Jose, California, also expects to get $200 million in
yearly cost savings.

“They will be a strong enterprise storage player,” said
Hans Mosesmann, an analyst at Raymond James & Associates Inc.
“In this day and age, as things consolidate, the bigger guys
are going to have more power.”

LSI’s stockholders will receive $11.15 in cash for each
share of LSI common stock at the completion of the deal, which
is expected in the first half of 2014, according to the
statement. The transaction will boost Avago’s free cash flow and
earnings per share immediately after it closes, the company
said.

“This combination will increase the company’s scale and
diversify our revenue and customer base,” Hock Tan, Avago’s
chief executive officer, said in the statement. “As we
integrate LSI onto the Avago platform, we expect to drive LSI’s
operating margins toward Avago’s current levels.”

Hewlett-Packard Unit

The purchase would be the largest deal for Avago, which was
founded in 1961 as an electronics division of Hewlett-Packard.
It pioneered the market for light-emitting-diode displays before
expanding into fiber-optic transmitters, optical mouse sensors
and other equipment. It then became part of the Agilent
Technologies Inc. spinoff from Hewlett-Packard in 2000.

In 2005, a group of private-equity firms, including Silver
Lake and KKR & Co. (KKR), acquired the business for $2.66 billion.
They orchestrated an IPO for the company, which debuted on the
Nasdaq Stock Market in 2009.

Deutsche Bank AG advised Avago on the transaction, while
Qatalyst Partners LLC assisted LSI.

To contact the reporters on this story:
James Callan in New York at
jcallan2@bloomberg.net;
Nick Turner in San Francisco at
nturner7@bloomberg.net

To contact the editors responsible for this story:
Nick Turner at
nturner7@bloomberg.net;
Pui-Wing Tam at
ptam13@bloomberg.net


Google+

Advent Boosts Investor Confidence – Analyst Blog

Information technology software solutions and services provider,
Advent Software Inc. ( ADVS ) recently
announced a special cash dividend of $9 per share to be paid on Jul
9 to shareholders of record as of Jul 1.

The special cash dividend was approved by Advent’s board of
directors on Jun 12 and the company clarified that the amount
carried a dividend factor (roughly $2-$4 per share) and a
return-of-capital factor. The decision to return value as well as a
portion of capital is based on Advent’s strong liquidity position
and positive free cash flow generation capabilities.

Advent mentioned that the special dividend worth $470.0 million
will be paid using cash-in-hand and a senior credit facility. The
credit facility, which amounts to $425.0 million, consists of a
$225.0 million term-loan facility and a $200.0 million revolving
credit facility. Both the term loan and revolving credit facility
will carry an interest of LIBOR plus 225 basis points. Notably, the
company repaid the outstanding loans before taking the new loan of
$425.0 million.

The decision to pay a special dividend is actually a windfall for
shareholders as Advent had never declared any dividends earlier.
The company also plans to retain future earnings for funding
development and business growth, instead of declaring any dividend.
Nevertheless, Advent will remain proactive on the share buyback
front.

Now let’s have a look at how Advent performed in the first quarter
of 2013. Advent recorded earnings per share of 23 cents, in line
with the Zacks Consensus Estimate. Revenues grew 6.4% year over
year to $92.5 million. Efficient cost optimization led to an
operating margin of 17.5%, which was up from 13.6% in the year-ago
quarter.

Cash and marketable securities were $184.7 million versus $169.4
million in the prior quarter. Long-term debt balance declined $2.5
million to $82.5 million. Cash flow from operating activities was
$17.2 million and capital expenditure was $959,000.

Given the strong balance sheet and ability to pay off debt, we
think the move makes sense. We are also positive on Advent’s
recurring revenue model, higher renewal rates, strong product
portfolio and new product launches.

Currently, Advent has a Zacks Rank #1 (Strong Buy). Similar stocks
that warrant a look include Aspen Technology Inc.
( AZPN ),
Pegasystems Inc. ( PEGA ) and SAP
AG
( SAP ).
All three stocks have a Zacks Rank #1 (Strong Buy).

ADVENT SOFTWARE (ADVS): Free Stock Analysis
Report

ASPEN TECH INC (AZPN): Free Stock Analysis
Report

PEGASYSTEMS INC (PEGA): Free Stock Analysis
Report

SAP AG ADR (SAP): Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment
Research


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

[...]

Former Bank of America workers allege it lied to home owners

(Reuters) – Six former Bank of America Corp employees have alleged that the bank deliberately denied eligible home owners loan modifications and lied to them about the status of their mortgage payments and documents.

The bank allegedly used these tactics to shepherd homeowners into foreclosure, as well as in-house loan modifications. Both yielded the bank more profits than the government-sponsored Home Affordable Modification Program, according to documents recently filed as part of a lawsuit in Massachusetts federal court.

The former employees, who worked at Bank of America (Other OTC: BACYLnews) centres throughout the United States, said the bank rewarded customer service representatives who foreclosed on homes with cash bonuses and gift cards to retail stores such as Target Corp (NYSE: TGTnews) and Bed Bath & Beyond Inc (NasdaqGS: BBBYnews) .

For example, an employee who placed 10 or more accounts into foreclosure a month could get a $500 (318.35 pounds) bonus. At the same time, the bank punished those who did not make the numbers or objected to its tactics with discipline, including firing.

About twice a month, the bank cleaned out its HAMP backlog in an operation called “blitz,” where it declined thousands of loan modification requests just because the documents were more than 60 months old, the court documents say.

The testimony from the former employees also alleges the bank falsified information it gave the government, saying it had given out HAMP loan modifications when it had not.

Rick Simon, a Bank of America Home Loans spokesman, said the bank had successfully completed more modifications than any other servicer under HAMP.

“We continue to demonstrate our commitment to assisting customers who are at risk of foreclosure and, at best, these attorneys are painting a false picture of the bank’s practices and the dedication of our employees,” Simon said in a email, adding the declarations were “rife with factual inaccuracies.”

Borrowers filed the civil case against Bank of America in 2010 and are now seeking class certification. The affidavits, dated June 7, are the latest accusations over the mishandling of mortgage modifications by some top U.S. banks.

Mortgage problems have dogged Bank of America since its disastrous purchase of Countrywide Financial in 2008. The bank paid $42 billion to settle credit crisis and mortgage-related litigation between 2010 and 2012, according to SNL Financial.

Bank of America and four other banks reached a $25 billion landmark settlement with regulators in 2012, following a scandal in late 2010 when it was revealed employees “robo signed” documents without verifying them as is required by law.

But problems have persisted. Since 2012, more than 18,000 homeowners have filed complaints about Bank of America with the Consumer Financial Protection Bureau, a new agency created to help protect consumers. Recently, the attorney generals of New York and Florida accused Bank of America of violating the terms of last year’s settlement.

The government created HAMP in 2009 in response to the foreclosure epidemic and to encourage banks to give homeowners loan modifications, allowing some borrowers to stay in their homes.

THE BLITZ

The court documents paint a picture of customer service operations where managers roamed the floor with headsets, able to listen into any call without warning. Service representatives were told to lie to homeowners, telling them their paperwork and payments had not been received, when in reality they had.

“This is exactly what’s been happening to homeowners for years,” said Danielle Kelley, a foreclosure defence lawyer in Florida. “No matter how many times they send in their paperwork, or how often they make their payments, they simply can’t get loan modifications. They wind up in foreclosure instead.”

The former employees said they were told to falsify electronic records and string homeowners along in foreclosure as long as possible. The problem was exacerbated because the bank did not have enough employees handling modifications, adding to the backlog of cases purged during the “blitz” operations.

Once a HAMP application was delayed or rejected, Bank of America would offer an in-house alternative, charging as high as 5 percent when the loan could have been modified for 2 percent under HAMP, according to an affidavit by William Wilson, who worked at the bank’s Charlotte, North Carolina office.

Wilson, who was a case management team manager, said he told his supervisors the practices were “ridiculous” and “immoral.” He said he was fired in August 2012.

Bank of America said it was not at liberty to discuss personnel matters.

(Reporting By Michelle Conlin and Peter Rudegeair in New York; Editing by Paritosh [...]

Advent Software Announces Recapitalization Transaction; Declares a Special Dividend of $9 per Share; Closes $425 …

SAN FRANCISCO, CA–(Marketwired – Jun 13, 2013) – Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services for the global investment management industry, today announced a one-time special cash dividend of $9 per share totaling approximately $470 million. The special dividend will be financed with cash on hand and proceeds from Advent’s recently closed $425 million senior credit facility.

“We have worked hard to build a business with healthy and predictable cash flows so that we can deliver value to our shareholders while making the investments that will continue to benefit our clients. With our large client base and predictable business model, we can both service this debt and execute on our strategy to eliminate boundaries between systems, information and people,” said Pete Hess, Advent’s CEO and President. “Advent’s Board believes we can best maximize shareholder value by taking advantage of the favorable liquidity and flexibility of current debt capital markets with a recapitalization of our balance sheet, which allows us to return capital to shareholders and enable them to continue to participate in Advent’s future performance.”

Special Cash Dividend of $9 per Share
The special dividend was approved by Advent’s Board of Directors on June 12, 2013 and will be payable on July 9, 2013 to stockholders of record at the close of business on July 1, 2013. Of the $9 per share distribution, Advent currently expects between $2 to $4 per share to be characterized as a dividend, and the remaining amount of the distribution to be characterized as a return of capital. The ultimate tax characterization of the distribution will be reported to shareholders on a Form 1099-DIV shortly after the end of the year. Stockholders should consult their tax advisors regarding the tax effects of the dividend to them.

$425 Million Senior Credit Facility
The senior credit facility is composed of a $225 million term loan facility and a $200 million revolving credit facility. The new term loan has repayments of $5 million per quarter and the remaining balance will mature in June 2018. Interest on the term loan and any revolving loan initially accrues at LIBOR + 225 basis points. Beginning in the fourth quarter of 2013, the LIBOR spread can be reduced to the extent Advent’s leverage ratio decreases. The revolving credit facility will also mature in June 2018. Advent may prepay the term loans and revolving loans at any time without penalty. Prior to replacing Advent’s current facility with this new senior credit facility, Advent repaid in full the outstanding loans under its existing credit facility. J.P. Morgan Securities LLC and BofA Merrill Lynch acted as Joint Lead Arrangers and Joint Bookrunners for the senior credit facility. The terms of the senior credit facility are more fully described in Advent’s current report on Form 8-K filed today.

Equity Award Modifications
The Company modified its outstanding stock option awards to reflect the dividend by reducing the exercise price by $9 per option. For certain options that cannot be reduced by the full $9, Advent will compensate those option holders with a cash payment for the difference between $9 and the reduction of their exercise price. Holders of restricted stock units (RSU) will receive the right to receive $9 per RSU upon vesting.

Financial Impact of the Recapitalization Transactions

In connection with the recapitalization transactions, the Company incurred various fees from third parties that are not included in capitalized debt issue costs. The Company currently expects its financial results to be impacted by these third-party expenses, equity award modifications, and other debt costs as described in the table below.

Description of Charge
 
Cash or Non Cash
 
Expense in Q2 2013
 
Expense Over Vesting Period (From Q3 2013 to Q2 2017)
 
 
 
 
 
 
 
Third-Party Costs within Operating Expenses
 
Cash
 
$5 – $6 million
 
n/a
Incremental Operating Expense from Employee Option Modification
 
Non-Cash
 
$15 – $17 million
 
$8 – $13 million
Employee Option Cash Adjustment Payments
 
Cash
 
$5 – $7 million
 
n/a
Employee RSU Modification
 
Cash
 
n/a
 
$11 million
Third-Party Costs within Interest Expense
 
Cash
 
$700,000
 
n/a

The Company will exclude all of the above charges from the calculation of its non-GAAP financial measures. (The ultimate stock option modification charges and payments will be determined after the ex-dividend date and therefore these charges may be impacted by changes in market conditions.)

Additionally, interest expense for the second quarter of 2013 (including creditor fees and third-party expenses incurred in connection with the debt issuance) is expected to be approximately $1.7 million and interest expense in the third quarter of 2013 (including cash interest from the new debt and the amortization of capitalized debt issue costs) is currently expected to be approximately $2.7 million.

Common shares outstanding as of June 12, 2013 were 52 million shares. On a fully diluted basis, weighted average shares outstanding for the second quarter of 2013 is expected to be 54 million shares.

Qatalyst Partners LP acted as financial advisor to Advent in this transaction.

Forward-looking Statement
The estimates and other forward-looking statements included in this presentation reflect management’s best judgment based on factors currently known and involve risks and uncertainties; our actual results may differ materially from those discussed here. These risks and uncertainties include potential fluctuations in the number of shares outstanding and other risks detailed from time to time in our SEC reports including, but not limited to, our quarterly reports on Form 10-Q and our 2012 annual report on Form 10-K. The Company disclaims any intention or obligation to publicly update or revise any forward-looking statements including any guidance, whether as a result of events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

About Advent
Advent Software, Inc. (www.advent.com), a global firm, has provided trusted solutions to the world’s financial professionals since 1983. Advent’s proven solutions can increase operational efficiency, reduce risk, and eliminate the boundaries between systems, information and people so you can focus on what you do best. With more than 4,500 client firms in over 60 countries, Advent has established itself as a leading provider of mission-critical solutions to meet the demands of investment management operations around the world. Advent is the only financial services software company to be awarded the Service Capability and Performance certification for being a world-class support and services organization. For more information on Advent products visit http://www.advent.com/about/resources/demos/pr.

Advent, the Advent logo and Advent Software are registered trademarks of Advent Software, Inc. All other company names or marks mentioned herein are those of their respective [...]

Asian Mineral Resources Announces Project Financing Proposal With Lien Viet Post Bank; Shares Up in Early Trade

Asian Mineral Resources Limited (ASN.V) today announced that its
90% owned subsidiary, Ban Phuc Nickel Mines LLC is currently in
advanced negotiations with Lien Viet Post Bank (LVPB) on the
provision of a US$20 million project financing loan for its Ban
Phuc Nickel Project. As part of this proposal, and pending final
credit approval of the Project Debt, LVPB has granted an initial
US$11 million loan to BPNM secured by cash collateral from AMR’s
existing cash resources. The Initial Loan allows expenditure to
bring the Ban Phuc Nickel Project into production to continue
uninterrupted.

Asian Mineral is up half a cent from a yr low, to 3.5 cents in
early trade.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

[...]

LMP Corporate Loan Fund Inc (TLI) Ex-Dividend Date Scheduled for May 22, 2013

LMP Corporate Loan Fund Inc (
TLI

) will begin trading ex-dividend on May 22, 2013. A cash dividend
payment of $0.0725 per share is scheduled to be paid on May 31,
2013. Shareholders who purchased TLI stock prior to the ex-dividend
date are eligible for the cash dividend payment. This marks the
11th quarter that TLI has paid the same dividend. At the current
stock price of $13.79, the dividend yield is 6.31%.

The previous trading day’s last sale of TLI was $13.79,
representing a -6% decrease from the 52 week high of $14.67 and a
21.93% increase over the 52 week low of $11.31.

For more information on the declaration, record and payment
dates, visit the
TLI
Dividend History

page.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

[...]

6 ways to shop for a refinance

While the essential elements of shopping for a mortgage are the
same for a purchase or
refinance

, the refinancing process usually starts with a decision to either
improve your cash flow or change your debt profile, says Russ
Anderson, a centralized sales executive with Bank of America in Los
Angeles. He says you should determine your goal for refinancing
before you meet with a mortgage professional.

Once you’ve decided whether you want to reduce your mortgage
payments or pay off your loan faster, you can begin shopping for a
lender and a loan.

“The average consumer shops for a refinance like they’re
shopping for a flat-screen TV,” says Barry Habib, chief market
strategist for Residential Finance Corp. in Columbus, Ohio.
Everyone’s price conscious, he says, but not everyone does their
homework to determine which product best suits their short and
long-term goals.

6 steps to refinance shopping

No. 1: Start online

. Deborah Ames Naylor, executive vice president of Pentagon Federal
Credit Union in Alexandria, Va., recommends starting with a
mortgage payment calculator

that estimates your monthly payments at various loan terms.

“A shorter term loan will have a lower interest rate than a
30-year fixed-rate loan, but the payment will be higher because
you’re paying it off faster,” says Naylor. “It’s important to
decide what payment you’re comfortable making before you see a
lender, because that payment could be much less than the payment
you qualify for.”

No. 2: Loan term.

Habib says the loan term you choose needs to be made in the context
of your other financial obligations and plans.

“If you have $30,000 in credit card debt and no savings for
college, you may want to go for a 30-year loan to keep the payments
as low as possible,” says Habib. “Someone else may want a shorter
term to build equity faster while another borrower might want a
longer loan so they can keep their tax deduction as long as
possible.”

No. 3: Talk to multiple lenders

. Research loan products available from a credit union, a regional
or community bank, a direct lender and a national bank to find out
what special programs they offer, says Naylor.

“Many lenders offer ‘portfolio loans,’ ones they keep in-house
instead of selling on the secondary market,” she says. “They can be
more flexible with those loans and offer special promotions.”

Instead of choosing a lender solely based on
current mortgage rates

, Anderson says you need to find a lender you can trust. “People
get too wrapped up in the rate rather than finding someone who will
communicate with them,” he says. “You need to find someone you
trust, who will be engaged in your family’s financial
situation.”

No. 4: Loan options.

Discuss various loan products when interviewing lenders.

“There’s a broad product mix of conventional financing,
government-backed programs like
FHA loans

and special refinancing programs through the Making Home Affordable
program,” says Anderson. “A good lender can present the pros and
cons of each of these programs in the context of your individual
finances.”

No. 5: Decide how you’ll finance your refinance

. Closing costs and lender fees can be paid at closing, wrapped
into your loan balance or you can opt for a “no-cost”
refinance.

“A no-cost refinance means that your lender will pay the fees
and you’ll pay a slightly higher interest rate of one-eighth to
one-fourth percent,” says Habib.

HSH.com’s mortgage refinance calculator can help you decide the
best way to finance your refinance.

No. 6: Compare mortgage rates and fees.

Advertised mortgage rates are sometimes based on

paying points, so you need to make sure you compare loans with zero
points or the same number of points.

“It’s important to compare all three things that factor into
what your loan will actually cost: the interest rate, points and
the loan origination fee,” says Naylor.

According HSH.com, average mortgage rates for the week ending
May 3, 2013 were
:

30-year fixed-rate loan: 3.49 percent

30-year FHA-backed fixed-rate loan: 3.26 percent

15-year fixed-rate loan: 2.74 percent

5/1 ARM: 2.55 percent

Mortgage rates vary daily and sometimes hourly, so it’s best to
compare rates on the same day.

While shopping for a refinance may take a little longer than
refinancing with your current lender, the rewards can last as long
as your loan.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

[...]

Guaranty Bancorp Announces Quarterly Cash Dividend

DENVER, CO–(Marketwired – May 7, 2013) – Guaranty Bancorp (NASDAQ: GBNK), a community bank holding company based in Colorado, today announced that its Board of Directors has declared a quarterly cash dividend to its stockholders. This is the first cash dividend paid to stockholders in the Company’s history.

The cash dividend of $0.025 per common share is payable on May 31, 2013 to stockholders of record as of the close of business on May 28, 2013, and is on a split-adjusted basis taking into account the Company’s previously announced 1-for-5 reverse stock split. The reverse stock split is expected to take effect after the close of trading on May 20, 2013, with Guaranty Bancorp common stock beginning to trade on a split-adjusted basis at the opening of the trading market on May 21, 2013.

“We are pleased to initiate a quarterly cash dividend for our stockholders,” said Mr. Paul W. Taylor, President and CEO. “We expect to continue the payment of quarterly cash dividends and further enhance the value we provide to our stockholders.”

About Guaranty Bancorp

Guaranty Bancorp is a bank holding company that operates 28 branches in Colorado through a single bank, Guaranty Bank and Trust Company. The bank provides banking and other financial services including real estate, construction, commercial and industrial, energy, consumer and agricultural loans throughout its targeted Colorado markets to consumers and small to medium-sized businesses, including the owners and employees of those businesses. The bank also provides wealth management services including private banking, investment management and trust services. More information about Guaranty Bancorp can be found at www.gbnk.com.

Forward-Looking Statements

This press release contains forward-looking statements, which are included in accordance with the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “could,” “expects,” “plans,” “intends,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” or “continue,” or the negative of such terms and other comparable terminology. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following: failure to maintain adequate levels of capital and liquidity to support Company’s operations; general economic and business conditions in those areas in which the Company operates; demographic changes; competition; fluctuations in interest rates; continued ability to attract and employ qualified personnel; ability to receive regulatory approval for our bank subsidiary to declare dividends to the Company; adequacy of our allowance for loan losses, changes in credit quality and the effect of credit quality on our provision for credit losses and allowance for loan losses; changes in governmental legislation or regulation, including, but not limited to, any increase in FDIC insurance premiums; changes in accounting policies and practices; changes in the deferred tax asset valuation allowance; changes in business strategy or development plans; changes in the securities markets; changes in consumer spending, borrowing and savings habits; the availability of capital from private or government sources; competition for loans and deposits and failure to attract or retain loans and deposits; changes in the financial performance and/or condition of our borrowers and the ability of our borrowers to perform under the terms of their loans and other terms of credit agreements; political instability, acts of war or terrorism and natural disasters; and additional “Risk Factors” referenced in the Company’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission, as supplemented from time to time. When relying on forward-looking statements to make decisions with respect to the Company, investors and others are cautioned to consider these and other risks and uncertainties. The Company can give no assurance that any goal or plan or expectation set forth in forward-looking statements can be achieved and readers are cautioned not to place undue reliance on such statements, which speak only as of the date made. The forward-looking statements are made as of the date of this press release, and the Company does not intend, and assumes no obligation, to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements.

Contact:

Contact Information

Christopher G. Treece
E.V.P., Chief Financial Officer & Secretary
Guaranty Bancorp
1331 Seventeenth Street, Suite 345
Denver, CO 80202
303.675.1194