|
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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.
[...]
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
EUGENE, Ore., April 24, 2013 /PRNewswire/ – Pacific Continental Corporation (PCBK), the holding company of Pacific Continental Bank, announced today that its board of directors approved an increase in the regular cash dividend from $0.08 per share to $0.09 per share. Additionally, the board declared a special cash dividend of $0.05 per share. Both dividends are payable May 15, 2013, to shareholders of record on May 6, 2013.
“Once again we are pleased to announce an increase in our quarterly cash dividend and a continuation of our recent history in declaring an accompanying special dividend,” said Hal Brown, Pacific Continental’s chief executive officer. “The successfully completed Century Bank acquisition and the consistent improvement in our performance metrics provide the basis for our growing optimism.”
Dividend Schedule
Pacific Continental’s board will continue to review dividend considerations so that regular cash dividends, when and if declared, will typically be paid in February, May, August and November of each year. When and if declared, regular cash dividend payments will be announced simultaneously with the quarterly earnings release. Pacific Continental’s board of directors takes a broad perspective in its dividend deliberations including a review of recent operating performance, current and projected capital levels, current and projected earnings, risk profile, including loan concentrations as a percentage of capital, planned market expansion, liquidity available at the Corporation, and other metrics, including dividend payout ratios and dividend yield before establishing an annual dividend expectation and before declaring a quarterly dividend.
About Pacific Continental Bank
Pacific Continental Bank, the operating subsidiary of Pacific Continental Corporation, delivers highly personalized services through 14 banking offices in Oregon and Washington. The Bank also operates a loan production office in Tacoma, Washington. With $1.3 billion in assets, Pacific Continental has established one of the most unique and attractive metropolitan branch networks in the Northwest with offices in three of the region’s largest markets including Seattle, Portland and Eugene. Pacific Continental targets the banking needs of community-based businesses, health care professionals, professional service providers and nonprofit organizations.
Since its founding in 1972, Pacific Continental Bank has been honored with numerous awards and recognitions from highly regarded third-party organizations including The Seattle Times, the Portland Business Journal and Oregon Business magazine. A complete list of the company’s awards and recognitions – as well as supplementary information about Pacific Continental Bank – can be found online at www.therightbank.com. Pacific Continental Corporation’s shares, a component of the Russell 2000 Index, are listed on the Nasdaq Global Select Market under the symbol [...]
Regulatory News:
This has been made possible by Eniros (STO:ENRO)profit level and
strong cash flow.
Eniro has more than a year before expiry of its current loan agreement
renegotiated its long-term financing. All six banks in the companys
current banking consortium (Danske Bank, DNB, Handelsbanken, Nordea, SEB
and Swedbank) have signed the commitment letter. The commitment letter
entails a more flexible annual repayment rate, increased operational
flexibility and a continued possibility of future dividends on the
companys common shares.
More than a year before its current bank loans expire, Eniro has signed
a commitment letter on long-term financing. All six banks in the
companys banking consortium (Danske Bank, DNB, Handelsbanken, Nordea,
SEB and Swedbank) have committed to the financing, which runs for three
years, with an option to extend by one year to four years on the
condition that SEK 800 M of the bank loan is replaced by a corporate
bond.
New long-term financing will create increased stability, more flexible
rate of annual loan payments, enhanced operational flexibility and a
continued possibility for future dividends.
“I am delighted and proud that Eniro on its own merits and in a short
period of time has improved its financial situation so dramatically
that we can now, in an orderly fashion and well in advance of
expiration, present new financing for the company, says Johan Lindgren,
President and CEO of Eniro. “Using this financing as a foundation, we
can increase our focus on local search and continue to promote user
friendliness, quality and customer satisfaction in our offering. The mix
of financing that we now achieve with a traditional bank loan as the
foundation, a future corporate bond and the previously issued preference
shares, provides increased stability and flexibility, as well as a
maturity structure that is well-suited to our cash flow. It is thanks to
our employees successful efforts that we have been able to create this
opportunity. I would also like to thank our banks for their constructive
efforts, concludes Johan Lindgren.
The loan amounts to SEK 3 billion and is on interest-rate terms in line
with the current agreement. For the year 2013 the bank loan is expected
to decrease with approximately SEK 375 M. For the years 2014 through
2016, the scheduled annual amortizations will be approximately SEK 375 M
(to be paid semi-annually). Eniro may also make additional voluntary
prepayments. Worked-up cash flow and the cash balance at the beginning
of the year will be used for the repayments.
The information is such that Eniro AB (publ) is required to disclose in
accordance with the Swedish Financial Instruments Trading Act and/or the
Swedish Securities Market Act. The information was submitted for
publishing at 08:00 a.m. on April 24, 2013.
Eniro is the local search engine. A clever shortcut to what you need,
home or away. Both consumers and companies can use Eniros services to
easily locate where to buy services and products regardless of whether
the channel is internet, catalog or mobile. Advertisers can actively
market themselves to interested consumers, find new customers and
increase sales.
Eniro is one of the largest search companies in the Nordic region and
Poland. The company has approx. 3,200 employees in the Nordic region and
Poland and has been listed on Nasdaq OMX Stockholm since 2000. During
2012, Eniros revenues amounted to SEK3,999 M and EBITDA was SEK976 M.
Headquarters are located in Stockholm, Sweden. More on Eniro at
www.eniro.com
Eniro Discover local. Search local.
This information was brought to you by Cision [...]
(Reuters) – Dell Inc said it received alternative proposals from Blackstone Group LP and Carl Icahn that might be superior to the $24.4 billion offer from founder Michael Dell and private equity fund Silver Lake Partners last month.
Details of the three bids follow.
SILVER LAKE/MICHAEL DELL PROPOSAL
– Cash bid is for entire company, valuing Dell at $13.65 per share.
– Silver Lake committed up to $1.4 billion in equity financing.
– Michael Dell will roll over 273 million shares of Dell stock, invest up to an additional $500 million in cash.
– An affiliate of Michael Dell investment vehicle MSD Capital will contribute up to an additional $250 million.
– Deal will target the repatriation of $7.4 billion cash from abroad.
– Deal would also be financed by a $2 billion loan from Microsoft Corp and between $11 billion and $12 billion in debt financing from Bank of America Merrill Lynch, Barclays, Credit Suisse and RBC Capital Markets.
BLACKSTONE PROPOSAL
– Leveraged recapitalization transaction that values Dell shares at more than $14.25 per share.
– Shareholders could choose to receive either all cash or stock (subject to a cap).
– Blackstone anticipates inviting large Dell shareholders to participate in transaction by rolling over their shares.
– Dell shares would continue to trade on Nasdaq.
– Received a “highly confident” letter from Morgan Stanley on Blackstone group’s ability to raise debt financing for transaction.
ICAHN PROPOSAL
– Cash bid for up to 58.1 percent of Dell, valuing the company’s shares at $15 each.
– Shareholders could elect to keep their Dell stock instead of the cash bid.
– Deal will be funded by $2 billion from Icahn Enterprises, Carl Icahn and affiliates; $7.4 billion of cash currently available at Dell; $5.2 billion in new debt; and $1.7 billion in new factoring receivable facility.
– Proposal assumes that large shareholders Southeastern Asset Management and T. Rowe Price would agree to remain shareholders in Dell. Icahn and affiliates would be willing to provide $2 billion in additional equity capital if the shareholders do not agree to roll over their holdings.
– Should there be leftover funding after investors choose to receive cash or remain shareholders in the company, the balance of the funding will be distributed to remaining Dell shareholders as a special dividend.
(Compiled by Michael Erman; Editing by Lisa Von [...]
CINCINNATI–(BUSINESS WIRE)–
Fifth Third Bancorp (FITB) today declared a cash dividend on its
common shares of $0.11 for the first quarter of 2013. The dividend is
payable on Thursday, April 18, 2013 to shareholders of record as of
Friday, March 29, 2013. This dividend is consistent with Fifth Third’s
proposed potential dividends as submitted to the Federal Reserve in its
2012 Comprehensive Capital Analysis & Review (“CCAR”) plan for the CCAR
process covering the period ending March 31, 2013.
Fifth Third’s 2013 CCAR plan included the potential increase in the
quarterly dividend to $0.12 per share in the second quarter of 2013
through the first quarter of 2014. As noted last week, Fifth Third’s
Board will consider the potential to increase the dividend under the
2013 CCAR process at its scheduled quarterly meeting in June.
Fifth Third also announced that its Board of Directors approved a new
share repurchase authorization of up to 100 million shares, which
replaces the previous authorization from 2012 under which approximately
54 million shares remain. Fifth Third’s capital plan included potential
common share repurchases of up to $984 million through the first quarter
of 2014, in addition to any incremental repurchases related to any
after-tax gains from the sale of Vantiv, Inc. (“Vantiv”) stock.
Any capital distributions, including those contemplated in the above
announced actions, are subject to evaluation and approval by the Board
of Directors at any given time, Fifth Third’s performance, the state of
the economic environment, market conditions, regulatory factors, and
other risks and uncertainties. Fifth Third has no current information
and makes no representations as to whether, when or in what amounts
there may be future gains from the sale of Vantiv stock. The new
repurchase authorization does not have an expiration date, does not
include specific price targets, may be executed through open market
purchases or one or more private negotiated transactions, including Rule
10b5-1 programs, and may be suspended at any time.
Fifth Third Bancorp is a diversified financial services company
headquartered in Cincinnati, Ohio. The Company has $122 billion in
assets and operates 18 affiliates with 1,320 full-service Banking
Centers, including 104 Bank Mart® locations open seven days a week
inside select grocery stores and 2,413 ATMs in Ohio, Kentucky, Indiana,
Michigan, Illinois, Florida, Tennessee, West Virginia, Pennsylvania,
Missouri, Georgia and North Carolina. Fifth Third operates four main
businesses: Commercial Banking, Branch Banking, Consumer Lending, and
Investment Advisors. Fifth Third also has a 33% interest in Vantiv
Holding, LLC. Fifth Third is among the largest money managers in the
Midwest and, as of December 31, 2012, had $308 billion in assets under
care, of which it managed $27 billion for individuals, corporations and
not-for-profit organizations. Investor
information and press
releases can be viewed at www.53.com.
Fifth Third’s common stock is traded on the NASDAQ® National Global
Select Market under the symbol “FITB.”
Forward-Looking Statements
This report contains statements that we believe are “forward-looking
statements” within the meaning of Section 27A of the Securities Act of
1933, as amended, and Rule 175 promulgated thereunder, and Section 21E
of the Securities Exchange Act of 1934, as amended, and Rule 3b-6
promulgated thereunder. These statements relate to our financial
condition, results of operations, plans, objectives, future performance
or business. They usually can be identified by the use of
forward-looking language such as “will likely result,” “may,” “are
expected to,” “is anticipated,” “estimate,” “forecast,” “projected,”
“intends to,” or may include other similar words or phrases such as
“believes,” “plans,” “trend,” “objective,” “continue,” “remain,” or
similar expressions, or future or conditional verbs such as “will,”
“would,” “should,” “could,” “might,” “can,” or similar verbs. You should
not place undue reliance on these statements, as they are subject to
risks and uncertainties, including but not limited to the risk factors
set forth in our most recent Annual Report on Form 10-K. When
considering these forward-looking statements, you should keep in mind
these risks and uncertainties, as well as any cautionary statements we
may make. Moreover, you should treat these statements as speaking only
as of the date they are made and based only on information then actually
known to us.
There are a number of important factors that could cause future
results to differ materially from historical performance and these
forward-looking statements. Factors that might cause such a difference
include, but are not limited to: (1) general economic conditions and
weakening in the economy, specifically the real estate market, either
nationally or in the states in which Fifth Third, one or more acquired
entities and/or the combined company do business, are less favorable
than expected; (2) deteriorating credit quality; (3) political
developments, wars or other hostilities may disrupt or increase
volatility in securities markets or other economic conditions; (4)
changes in the interest rate environment reduce interest margins; (5)
prepayment speeds, loan origination and sale volumes, charge-offs and
loan loss provisions; (6) Fifth Third’s ability to maintain required
capital levels and adequate sources of funding and liquidity; (7)
maintaining capital requirements may limit Fifth Third’s operations and
potential growth; (8) changes and trends in capital markets; (9)
problems encountered by larger or similar financial institutions may
adversely affect the banking industry and/or Fifth Third; (10)
competitive pressures among depository institutions increase
significantly; (11) effects of critical accounting policies and
judgments; (12) changes in accounting policies or procedures as may be
required by the Financial Accounting Standards Board (FASB) or other
regulatory agencies; (13) legislative or regulatory changes or actions,
or significant litigation, adversely affect Fifth Third, one or more
acquired entities and/or the combined company or the businesses in which
Fifth Third, one or more acquired entities and/or the combined company
are engaged, including the Dodd-Frank Wall Street Reform and Consumer
Protection Act; (14) ability to maintain favorable ratings from rating
agencies; (15) fluctuation of Fifth Third’s stock price; (16) ability to
attract and retain key personnel; (17) ability to receive dividends from
its subsidiaries; (18) potentially dilutive effect of future
acquisitions on current shareholders’ ownership of Fifth Third; (19)
effects of accounting or financial results of one or more acquired
entities; (20) difficulties from the separation of or the results of
operations of Vantiv, LLC from Fifth Third; (21) loss of income from any
sale or potential sale of businesses that could have an adverse effect
on Fifth Third’s earnings and future growth; (22) ability to secure
confidential information and deliver products and services through the
use of computer systems and telecommunications networks; and (23) the
impact of reputational risk created by these developments on such
matters as business generation and retention, funding and liquidity.
You should refer to our periodic and current reports filed with the
Securities and Exchange Commission, or “SEC,” for further information on
other factors, which could cause actual results to be significantly
different from those expressed or implied by these forward-looking
statements.
Contact:
Fifth Third Bancorp
Investors
Jim Eglseder, 513-534-8424
Laura Wehby, 513-534-7407
or
Media
Debra DeCourcy, APR, [...]
DALLAS, March 13, 2013 /PRNewswire/ — The National Breast Cancer Foundation (NBCF) would like to express their thanks and appreciation to ACE Cash Express, Inc. and NetSpend for their donation of $483,896.11.
(Photo: http://photos.prnewswire.com/prnh/20130313/DA66778-a)
(Logo: http://photos.prnewswire.com/prnh/20130313/DA66778LOGO-b)
“We are extremely grateful for ACE and NetSpend’s generous donation and continued partnership,” said Janelle Hail, founder and CEO of NBCF. “Their support allows us to continue carrying out our mission – saving lives through early detection and providing mammograms to those in need.”
This donation was made possible through the combined efforts of ACE’s Think Pink Month and the Pink ACE Elite prepaid debit card. Think Pink Month, held in observance of National Breast Cancer Awareness Month, consists of various in-store contributions and company-wide fundraisers that support NBCF. Additionally, every purchase made using the Pink ACE Elite prepaid debit card generates a donation made by ACE and NetSpend to NBCF, up to the annual maximum of $350,000. Because of these efforts, ACE and NetSpend have donated more than $2 million to NBCF over the past six years.
“ACE Cash Express is a proud partner of the National Breast Cancer Foundation,” said ACE CEO Jay Shipowitz. “This is a remarkable organization and the work they do is truly making a difference.”
Consumers can learn more about the Pink ACE Elite prepaid debit card online at www.GetYourPinkCard.com or by visiting one of ACE’s 1,600 retail locations. NetSpend Pink ACE Elite prepaid debit card is issued by MetaBank™, Member FDIC.
About National Breast Cancer Foundation
The National Breast Cancer Foundation, Inc. is recognized as one of the leading breast cancer organizations in the world. NBCF’s mission is to save lives through early detection and to provide mammograms for those in need. A recipient of Charity Navigator’s highest 4-star rating for eight years, NBCF provides women help for today and hope for tomorrow through its National Mammography Program, Beyond The Shock®, Early Detection Plan, MyNBCF online support community, and breast cancer research programs. For more information, please visit www.nbcf.org.
About ACE Cash Express
ACE Cash Express, Inc. is a leading retailer of financial services, including short-term consumer loans, check cashing, bill payment and prepaid debit card services. ACE is the largest owner and operator of check cashing stores in the United States and the second largest owner and operator of short-term consumer loan stores in the United States. ACE focuses on serving consumers, many of whom seek alternatives to traditional banking relationships in order to gain convenient and immediate access to financial services. For additional information about ACE Cash Express, visit www.acecashexpress.com.
ACE Cash Express on Twitter
ACE Cash Express on Facebook
About MetaBank
MetaBank™ is a federally-chartered savings bank headquartered in Storm Lake, Iowa. Meta Financial Group, Inc.® is the holding company for MetaBank and its Meta Payment Systems (MPS) division, based in Sioux Falls, South Dakota. MPS is a recognized leader in the prepaid card industry and provides innovative payment solutions delivered nationally in collaboration with market-leading partners. MPS focuses on offering specific product solutions in the following areas: (i) prepaid cards, (ii) credit products,(iii) ATM sponsorship, and (iv) ACH origination. Meta Financial Group is traded on the NASDAQ Global Market®. For more information visit http://www.metabank.com.
About NetSpend
NetSpend is a leading provider of general-purpose reloadable prepaid debit cards and related financial services to the estimated 68 million underbanked consumers in the United States who do not have a traditional bank account or who rely on alternative financial services. The Company’s mission is to develop products and services that empower underbanked consumers with the convenience, security and freedom to be self-banked. Headquartered in Austin, TX, NetSpend is traded on the NASDAQ stock exchange. Please visit http://www.netspend.com for more [...]
DANVILLE, VA–(Marketwire – Feb 20, 2013) – American National Bankshares Inc. ( NASDAQ : AMNB ), parent company of American National Bank and Trust Company, announced its Board of Directors has declared a quarterly cash dividend of $0.23 per common share, payable March 22, 2013, to shareholders of record March 8, 2013.
American National Bankshares Inc. considers the payment of appropriate dividends a vital part of its capital planning and management program. The Company adheres to a dividend policy based on a review of earnings, growth, capital and such other factors that the Board of Directors considers relevant to the dividend decision process.
About American National
American National Bankshares Inc. is a multi-state bank holding company with total assets of approximately $1.3 billion. Headquartered in Danville, Virginia, American National is the parent company of American National Bank and Trust Company. American National Bank is a community bank serving southern and central Virginia and north central North Carolina with 25 banking offices and two loan production offices. American National Bank and Trust Company also manages an additional $541 million of trust, investment and brokerage assets in its Trust and Investment Services Division. Additional information about the company and the bank is available on the bank’s website at www.amnb.com.
Shares of American National are traded on the NASDAQ Global Select Market under the symbol “AMNB.”
Traded: NASDAQ Global Select Market
Symbol: [...]
CONWAY, Ark., Jan. 23, 2013 (GLOBE NEWSWIRE) — Home BancShares, Inc.’s (HOMB), parent company of Centennial Bank, Board of Directors declared a regular $0.13 per share quarterly cash dividend payable March 6, 2013, to shareholders of record February 13, 2013. This cash dividend represents a $0.03 per share, or 30%, increase over the $0.10 cash dividend paid during the first quarter of 2012 and is equal to both the regular and the special cash dividend paid during the fourth quarter of 2012.
During the fourth quarter of 2012, the Board of Directors paid a second dividend for the quarter on December 31, 2012. This dividend has been declared by the Board of Directors as a special one-time cash dividend versus a cash dividend in lieu of the regular quarterly cash dividend for the first quarter of 2013. This special fourth quarter dividend was paid out of current earnings and profits in accordance with IRC Section 316 and therefore, will be entirely classified as a qualifying dividend for income tax purposes pursuant to Section 1(h).
Home BancShares, Inc. is a bank holding company, headquartered in Conway, Arkansas. Our wholly-owned subsidiary, Centennial Bank, provides a broad range of commercial and retail banking plus related financial services to businesses, real estate developers, investors, individuals and municipalities. Centennial Bank has locations in central Arkansas, north central Arkansas, southern Arkansas, the Florida Keys, southwestern Florida, central Florida, the Florida Panhandle and south Alabama. The Company’s common stock is traded through the NASDAQ Global Select Market under the symbol “HOMB.”
This release contains forward-looking statements regarding the Company’s plans, expectations, goals and outlook for the future. Statements in this press release that are not historical facts should be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements of this type speak only as of the date of this news release. By nature, forward-looking statements involve inherent risk and uncertainties. Various factors, including, but not limited to, economic conditions, credit quality, interest rates, loan demand, the ability to successfully integrate new acquisitions and changes in the assumptions used in making the forward-looking statements, could cause actual results to differ materially from those contemplated by the forward-looking statements. Additional information on factors that might affect Home BancShares, Inc.’s financial results are included in its Annual Report on Form 10-K for the year ended December 31, 2011 filed with the Securities and Exchange Commission.
Contact:
Brian Davis
Chief Accounting Officer &
Investor Relations Officer
Home BancShares, Inc.
(501) 328-4770
Chairman Shimon Yitzhaki: We’re making every effort to meet cash flow and find an investor.
“We are not meeting the terms of our loan with Bank Hapoalim,”
Elbit Imaging Ltd.
(Nasdaq:
EMITF
; TASE:
EMIT
) CFO Doron Moshe told bondholders at a meeting at the ZOA House in Tel Aviv yesterday.
Bank Hapoalim
(TASE:
POLI
) is demanding that the real estate company, controlled by president and CEO Mordechay Zisser, increase its collateral for a $64 million loan, because of the plunge in the share price of subsidiary
Plaza Centers NV
(LSE:
PLAZ
WSE:
WLZ
). Elbit Imaging is struggling to comply, and is in talks with the bank. A debt settlement seems almost a certainty.
Elbit Imaging chairman Shimon Yitzhaki tried to calm the bondholders at the start of the meeting, saying, “We’re making every effort to meet cash flow and find an investor. We have skill and experience in making bid deals, and we’ll meet our debt payments by bringing in a new investor.”
Yitzhaki and Elbit Imaging VP and general counsel Zvi Maayan then took questions from the audience. Zisser, who was due to attend upon arrival from overseas, cancelled his participation, citing illness. He is scheduled to undergo catheterization, and his aides said that he would return to work in a few days.
100 people attended the meeting, including representatives of investment institutions, lawyers, and many private investors, who did not hesitate to express their frustration about Elbit Imaging’s shape. The company’s resources and uses report states that it is due to make NIS 732 million in payments this year, but has just NIS 116 million in cash. It expects NIS 1 billion revenue this year, and is due to make an NIS 80 million payment on its two short-term bonds in February.
After the meeting of bondholders of all eight of the company’s bonds, the bondholders of the two short-term bonds held a separate meeting. The issue on the agenda was whether to consolidate the bonds and set up a joint representative body, or to have two separate representatives.
Elbit Imaging, which has a market cap of just $42.8 million (NIS 156 million), and its bond debt totals NIS 2.5 billion. Its bonds are traded at junk bond status with yields of hundreds of percent. Last month, Standard & Poor’s Maalot Ltd. and Midroog Ltd. slashed their ratings for the company’s bonds five grades to speculative investment grade.
Elbit Imaging’s bondholders face a second front against the bondholders of Plaza Centers, in which Elbit Imaging owns a 63% stake, and which has been asked to distribute a 30 million divided from which Elbit Imaging will benefit. Plaza Centers’ shareholders will hold a general meeting in February to approve the dividend, which the bondholders oppose. Plaza Centers’ bond debt totals NIS 1.3 billion, and the bonds are traded at yields of up to 22%. Elbit Imaging will use half of the dividend to repay Bank Hapoalim. “If we get the dividend from Plaza Centers, we will have no problem meeting the upcoming bond payment,” said Yitzhaki.
Published by Globes [online], Israel business news – www.globes-online.com – on January 21, 2013
Copyright of Globes Publisher Itonut (1983) Ltd. [...]
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