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Contains the last 10 releases
Updated: 1 day 4 hours ago

SECU Assists with Governor’s School Supply Drive Starting August 14th

9 August 2017 - 5:01pm

RALEIGH, N.C., Aug. 09, 2017 (GLOBE NEWSWIRE) -- State Employees’ Credit Union (SECU) President Mike Lord joined Governor Roy Cooper at Pearsontown Elementary School in Durham, N.C. yesterday for the Governor’s formal announcement of a statewide school supply drive to benefit North Carolina public schools.  SECU’s network of 258 branches will serve as collection points for the drive, which will begin August 14th and conclude September 8th.  The project is a natural fit for the Credit Union, which provides a variety of financial services to North Carolina teachers, public school, university and state employees and their families.

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/2df8567c-4177-4464-b974-e2b263d8a6fd

“We are happy to work with Governor Cooper and other partners –  the North Carolina Business Committee for Education and Communities in Schools of North Carolina – by providing donation sites in all 100 North Carolina counties,” said Mr. Lord.  “This important project aligns with our mission of service and our focus on education.  Many of our branches have held school supply drives in the past to benefit schools in their communities.  This statewide effort is another way we can have a positive impact on the lives of North Carolina children, their families, their teachers and our communities.”

The Governor’s office reports that teachers spend an average of $500 of their own money to provide classroom and student supplies each year.  To help expand the availability of basic school supplies across the state, the Governor is encouraging North Carolina residents to donate paper, spiral notebooks, pencils, pens, dry erase markers, tissues and sanitizing wipes.  Monetary donations will also be accepted and used to purchase supplies.  The supplies will be collected and distributed primarily in the local areas where the donations are made.

Pearsontown Elementary School Principal Rodriguez Teal noted, “Yesterday’s visit from Governor Cooper was an exciting day at Pearsontown Elementary School.  Having the opportunity to serve as the location for him to launch his statewide school supply drive was so appropriate because we have students that we provide a variety of supplies for every day.  As a member and Advisory Board volunteer for State Employees’ Credit Union, as well as a recipient of forthcoming donations for our teachers and staff, I feel proud and honored to be part of this initiative.”

About SECU
A not-for-profit financial cooperative owned by its members, SECU has been providing employees of the State of North Carolina and their families with consumer financial services for 80 years.  The Credit Union also offers a diversified line of financial advisory services including retirement and education planning, tax preparation, insurance, trust and estate planning services, and investments through its partners and affiliated entities.  SECU serves 2.2 million members through 258 branch offices, nearly 1,100 ATMs, 24/7 Member Services via phone and a website, www.ncsecu.org.

CONTACT: Contact: Leigh Brady, EVP – Organizational Development Office: 919-807-8347 | leigh.brady@ncsecu.org
Categories: State

Home BancShares, Inc. Subsidiary, Centennial Bank, Named Top Overall Arkansas Bank

9 August 2017 - 4:30pm

CONWAY, Ark., Aug. 09, 2017 (GLOBE NEWSWIRE) -- Home BancShares, Inc. (NASDAQ:HOMB), parent company of Centennial Bank, announced Centennial Bank has been named as the top overall bank in Arkansas by Bank Street Partners.  Bank Street Partners ranked the top 50 Arkansas banks in six key metrics including total assets, net interest margin, non-interest margin, overhead costs, asset quality and return on average equity based on 12 months of data ending June 30, 2017.  

“It is an honor for Centennial Bank to be recognized as the top overall bank in Arkansas by Bank Street Partners,” said Tracy French, Centennial Bank President and CEO.  “I am proud of our team of bankers and their ability to continuously provide superior customer service while also providing solid financial performance month after month.”

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 branch locations in Arkansas, Florida, South Alabama and New York City. 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 is included in its Annual Report on Form 10-K for the year ended December 31, 2016 filed with the Securities and Exchange Commission (the “SEC”) on February 28, 2017.

CONTACT: FOR MORE INFORMATION CONTACT: Jennifer C. Floyd Chief Accounting Officer &     Investor Relations Officer Home BancShares, Inc. (501) 339-2929
Categories: State

Guaranty Bancshares, Inc. Adds Molly Curl to Board of Directors

9 August 2017 - 4:30pm

MOUNT PLEASANT, Texas, Aug. 09, 2017 (GLOBE NEWSWIRE) -- Guaranty Bancshares, Inc., (NASDAQ:GNTY) (“Company”), the parent company of Guaranty Bank & Trust, N.A., today announced the appointment of Molly Curl to the Board of Directors of the Company.  Ms. Curl will also serve on the Company’s Audit Committee.

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/b7acf63e-4655-49fe-b86b-417b275d2c05

Ms. Curl brings a wealth of banking experience to the Board. She has worked for more than 40 years in the areas of organization, compliance, loan review, loan servicing, policy development, budgeting, and capital strategic planning. Most recently she has served as a Financial Services Advisory Partner with Grant Thornton LLP, a preeminent independent audit, tax, and advisory firm.

Ms. Curl began her career as a national bank examiner with the Office of the Comptroller of the Currency for nine years. In 1985, she joined Grant Thornton for a nearly 10-year stint before leaving for a position in senior management with a $10-billion financial institution where, for 16 years, she oversaw regulatory relations, loan review, compliance and internal audit. Ms. Curl returned to Grant Thornton in 2010 as partner in the Bank Advisory and Regulatory Consulting group bringing with her a wealth of expertise in banking regulatory and compliance issues. In July 2017, she officially retired as a partner of Grant Thornton.

Ty Abston, Chairman of the Board and Chief Executive Officer stated “We are very pleased to have Molly join our board and know she will bring valuable skills and insight to our Company. Having known Molly for over 20 years we are excited to have her join our team.”

In 2016, Ms. Curl was appointed by Governor Greg Abbott to serve on the Finance Commission of Texas for a six year term. The Finance Commission oversees the Texas Department of Banking, the Department of Savings and Mortgage Lending, and the Office of the Consumer Credit Commissioner. It is the primary point of accountability for ensuring that state depository and lending institutions function as a system.

Ms. Curl commented “I look forward to working alongside the management team, the Board of Directors and the Audit Committee of such a dynamic company whose culture of being passionate about their job and caring about the customer aligns with mine.”

Ms. Curl is a graduate of John Carroll University with a B.S.B.A. degree in Finance and is a Texas licensed Certified Public Accountant. She and her husband, Ralph, live in Dallas.

About Guaranty Bancshares

Guaranty is a bank holding company that conducts banking activities through its wholly-owned subsidiary, Guaranty Bank & Trust, N.A. As one of the oldest regional community banks in Texas, Guaranty Bank & Trust provides its customers with a full array of relationship-driven commercial and consumer banking products and services, as well as mortgage, trust, and wealth management products and services that are tailored to meet the needs of small and medium-sized businesses, professionals, and individuals. Guaranty Bank & Trust has 26 banking locations across 18 Texas communities located within the East Texas, Dallas/Fort Worth metroplex and Bryan/College Station markets of Texas. As of June 30, 2017, Guaranty had total assets of $1.9 billion, total loans of $1.3 billion and total deposits of $1.6 billion. Visit www.gnty.com for more information.

CONTACT: Contact Information: Cappy Payne  Senior Executive Vice President & CFO  Guaranty Bancshares, Inc.  (888) 572-9881 Investors@gnty.com
Categories: State

Brian Fisher, well-known veteran banker, joins commercial lending team at SouthCrest Bank

9 August 2017 - 11:29am

ATLANTA, Aug. 09, 2017 (GLOBE NEWSWIRE) -- As SouthCrest Bank continues to execute its strategy to become a leading financial services provider in the Atlanta region, SouthCrest announces that well-known, respected professional banker Brian Fisher has been named Senior Vice President, Commercial Banker.

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/12ee0cf2-87ec-4d12-aaf9-fdea7b80da4f

“Having Brian Fisher join SouthCrest’s A-Team of financial professionals will add immensely to our capability to provide value-added, creative, relationship-based commercial banking services for businesses, entrepreneurs and high-net-worth individuals in the Atlanta region,” said Brian D. Schmitt, Chief Executive Officer of SouthCrest Bank N.A. and SouthCrest Financial Group (OTC:SCSG).

Fisher has two decades of leadership success in a wide array of responsibilities in commercial and private banking with name-brand financial institutions. He will be headquartered in SouthCrest Bank’s Atlanta Midtown Office. Fisher’s appointment is another major step in SouthCrest Bank’s strategy to be a dominant business bank for the 13-county Metro Atlanta region.

Fisher lives in Avondale Estates with his wife, Angela, and daughters Reese, Libby Grace and Blythe. He serves as a member of the Avondale Estates City Commission.

“We are building a bench of extraordinarily talented, service-oriented high-performers that will be unmatched in the region as we continue to grow,” said Schmitt.

ABOUT SOUTHCREST

SouthCrest Financial Group, Inc. is a $540 million asset bank holding company headquartered in Atlanta, GA.  The company operates a 10 branch network throughout Georgia and Alabama through its subsidiary bank, SouthCrest Bank, N.A.  The bank provides a full suite of retail, private, entrepreneurial, high-net-worth and commercial banking services, and online banking services.

FORWARD LOOKING STATEMENTS

This presentation may contain certain “forward-looking statements” that are subject to risks, uncertainties, and other factors that could cause actual results and shareholder values to differ materially from those projected.  Factors that could cause or contribute to such differences include economic conditions, government regulation and legislation, changes in interest rates, credit quality, competition, and other risk factors.

CONTACT: Contact: Andrew Bowen, APR ab@clearviewcom.com 404-822-3309 
Categories: State

Live Oak Bancshares, Inc. Prices Public Offering of Voting Common Stock

9 August 2017 - 7:30am

WILMINGTON, N.C., Aug. 09, 2017 (GLOBE NEWSWIRE) -- Live Oak Bancshares, Inc. (Nasdaq:LOB) (“Live Oak” or “the Company”), parent company and registered bank holding company of Live Oak Banking Company (the “Bank”), today announced that it has priced an underwritten public offering of 4,500,000 shares of its voting common stock at a price of $23.00 per share for aggregate gross proceeds of approximately $103.5 million. Net proceeds after underwriting discounts and commissions and expenses of the offering are expected to be approximately $98.3 million. The company also has granted the underwriters a 30-day option to purchase up to an additional 675,000 shares, which would result in additional net proceeds of approximately $14.8 million, if exercised in full. The Company intends to use the net proceeds from the offering to make investments in the Bank and in its nonbank subsidiaries, to enhance its capital position and that of the Bank, and for general corporate purposes. The offering is expected to close on or about August 14, 2017, subject to satisfaction of customary closing conditions.

Goldman Sachs & Co. LLC is acting as the sole book-running manager for the offering.  Sandler O’Neill & Partners, L.P. and SunTrust Robinson Humphrey, Inc. are acting as co-managers.

The securities described above are being offered by Live Oak pursuant to a registration statement previously filed and declared effective by the Securities and Exchange Commission. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in this offering. The offering may be made only by means of a prospectus, copies of which may be obtained, when available, from Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, NY 10282, or by telephone at (866) 471-2526, or by email at prospectus-ny@ny.email.gs.com; from Sandler O'Neill + Partners, L.P., Attn: Prospectus Department, 1251 Avenue of the Americas, 6th Floor, New York, New York 10020; emailing syndicate@sandleroneill.com or calling (866) 805-4128; or writing to SunTrust Robinson Humphrey, Inc., Attn: Prospectus Department, 3333 Peachtree Road NE, 11th Floor, Atlanta, GA 30326; emailing STRH.Prospectus@suntrust.com or calling (404) 926-5744.

Important Note Regarding Forward-Looking Statements

Statements in this press release that are based on other than historical data or that express the Company’s plans or expectations regarding future events or determinations are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. Statements based on historical data are not intended and should not be understood to indicate the Company’s expectations regarding future events. Forward-looking statements provide current expectations or forecasts of future events or determinations. These forward-looking statements are not guarantees of future performance or determinations, nor should they be relied upon as representing management’s views as of any subsequent date. Forward-looking statements involve significant risks and uncertainties, and actual results may differ materially from those presented, either expressed or implied, in this press release. Factors that could cause actual results to differ materially from those expressed in the forward-looking statements include changes in Small Business Administration (“SBA”) rules, regulations or loan products, including the Section 7(a) program, changes in SBA standard operating procedures or changes in Live Oak Banking Company's status as an SBA Preferred Lender; changes in rules, regulations or procedures for other government loan programs, including those of the United States Department of Agriculture; a reduction in or the termination of the Company's ability to use the technology-based platform that is critical to the success of its business model, including a failure in or a breach of operational or security systems; competition from other lenders; the Company's ability to attract and retain key personnel; market and economic conditions and the associated impact on the Company; operational, liquidity and credit risks associated with the Company's business; the impact of heightened regulatory scrutiny of financial products and services and the Company's ability to comply with regulatory requirements and expectations; and the other factors discussed in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016 and in the Company’s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2017 filed with the Securities and Exchange Commission (“SEC”) and available at the SEC’s Internet site (http://www.sec.gov). Except as required by law, the Company specifically disclaims any obligation to update any factors or to publicly announce the result of revisions to any of the forward-looking statements included herein to reflect future events or developments.

About Live Oak Bancshares, Inc.

Live Oak Bancshares, Inc. (Nasdaq:LOB) is a financial holding company and the parent company of Live Oak Banking Company, a national online platform for small business lending.

CONTACT: Contacts: Brett Caines | CFO | Investor Relations | 910.796.1645 & Micah Davis | Marketing Director | Media Relations | 910.550.2255
Categories: State

Pivotus Ventures Expands Bank Innovation Collaborative With Addition of Major Dutch Bank

9 August 2017 - 7:15am

PORTLAND, Ore., Aug. 09, 2017 (GLOBE NEWSWIRE) -- Pivotus Ventures Inc., a subsidiary of Umpqua Holdings Corporation (Nasdaq:UMPQ), announced today that De Volksbank, the Netherlands’ fourth largest bank, has joined Umpqua Bank and Nationwide Building Society in a collaborative project to transform the way financial institutions engage and serve customers. With the addition of De Volksbank ($73 billion in assets—U.S. dollars), Pivotus is bringing together three of the strongest financial brands across the United States, Britain and the Netherlands in support of its vision to transform 21st century banking.

Based in Silicon Valley, Pivotus was formed in 2015 by Umpqua Holdings Corporation to develop, test, and deliver innovative solutions that will enhance the human side of digital banking in transformational ways. Through collaboration, resource sharing and an entrepreneurial approach to product development, Pivotus is designing customer-centric solutions that can be created and rolled out quickly and cost-efficiently to financial institutions, regardless of location.

Since its inception, Pivotus has targeted financial institutions that have similar customer values, understand the value of innovation, are ready to implement change quickly and welcome open collaboration. By partnering with Pivotus, De Volksbank joins a select group of financial institutions around the world to offer customers Pivotus’ first-of-its kind digital banking platform. Currently in pilot in the U.S. and UK, and targeted for rollout in early 2018, the platform will make digital banking more personal and give customers a unique, unparalleled level of human-based service.

“Today’s announcement marks another step in Pivotus’ evolution as a catalyst for the design and implementation of banking solutions that will radically transform customer experience,” said Ray Davis, Pivotus CEO. “The addition of De Volksbank expands the diverse and strategic group of financial institutions committed to bringing the customer experience to life in new ways.”

As a Pivotus collaborator, De Volksbank will provide perspective and expertise to complement the contributions of Umpqua Bank and Nationwide Building Society. Umpqua and Nationwide are innovators in their respective countries, known for building strong brands around customer-centric service. With $25 billion in assets, Umpqua is the West Coast’s largest community bank, internationally recognized for its customer service and retail banking strategy. U.K.-based Nationwide is the largest building society in the world and is at the forefront of digital innovations for its 15 million members.

“The partnership with banks who, just like us, have human-centered banking in their DNA provides us with inspiration and good practices to live up to our mission ‘Banking with a human touch’ in an even better and faster fashion,” said Rob Langezaal, De Volksbank’s chief commercial officer. “As a Pivotus collaborator, we have the opportunity to make our services more personal in the ever-increasing digital society.”

About Pivotus Ventures Inc.
Pivotus Ventures, a subsidiary of Umpqua Holdings Corporation, is a software and digital transformation company that has assembled a team of Silicon Valley’s most creative minds to reinvent the banking experience. In collaboration with financial institutions around the world, Pivotus is leveraging cross-industry expertise in data analytics, innovative product development and user experience to build the next generation of banking solutions and make digital banking more human. Learn more at www.pivotusventures.com

CONTACT: Media Contact: Kurt Heath 503-219-6124 KurtHeath@umpquabank.com

Categories: State

Sound Community Bank CEO Laurie Stewart Elected to American Bankers Association Officer Position

8 August 2017 - 5:09pm

SEATTLE, Aug. 08, 2017 (GLOBE NEWSWIRE) -- Laurie Stewart, President and CEO of Sound Community Bank, was selected as the candidate for the Vice Chairman position on the American Bankers Association (ABA) slate of officers.  Once elected at the ABA Annual Convention in Chicago, October 15-17, Stewart begins a 3-year term.  The position advances from Vice Chairman to Chairman-Elect, finally to Chairman over the course of the term.

“I am honored to be nominated for this important role,” said Stewart.  “The evolution of the banking industry signals the importance of collaboration, governance and ensuring a positive impact.  I plan to advocate for the industry with these ideals in mind. ”

“We’re excited that the nominating committee has put forth such an impressive slate of officers who have contributed so much to our industry,” said Rob Nichols, ABA president and CEO. “These bankers are passionate and engaged industry leaders who volunteer tremendous amounts of their time to represent banks of all sizes before Congress, regulators and gatherings in the U.S. and around the globe.  Our industry is grateful for their leadership, dedication and expertise.”

ABA represents banks of all sizes and charters and is the voice for the nation’s $17 trillion banking industry and its 2 million employees.  The association provides educational benefits and programs for its members, represents the industry in Washington and speaks on behalf of the industry in the press.

Stewart recently celebrated 26 years with Sound Community Bank.  In her 26-year career with Sound Community Bank, Stewart led the conversion of the organization from a $38 million dollar credit union to a $588 million publically traded commercial bank.  She has a long history in community banking and participation in industry affairs.  Recognized by American Banker as one of the Most Powerful Women in Banking in 2011, 2015, and once again in 2017, she served as Chair of the Board of Directors of the Washington Bankers Association (WBA) and is immediate past Chair for the Woodland Park Zoo in Seattle.  Stewart is a frequent speaker at conferences and colleges locally and nationally, and has testified in both Washington DC and Olympia, Washington on a variety of legislative and regulatory financial issues.  She helped create the WBA’s Executive Development Program which is now in its seventh year of existence.  Stewart is one of 14 bankers selected to serve on the inaugural FDIC Advisory Board and subsequently the CFPB Advisory Board.

Sound Community Bank is a full-service bank, providing personal and business banking services in communities across the greater Puget Sound region. The Seattle-based company operates banking offices in King, Pierce, Snohomish, Jefferson and Clallam Counties and on the web at www.soundcb.com.  Sound Community Bank is a subsidiary of Sound Financial Bancorp, Inc. (NASDAQ:SFBC).

 

CONTACT: For additional information: Media Contact: Brady Robb, Marketing Director (206) 448-0884 x202
Categories: State

Auburn National Bancorporation, Inc. Declares Quarterly Dividend

8 August 2017 - 3:35pm

AUBURN, Ala., Aug. 08, 2017 (GLOBE NEWSWIRE) -- On August 8, 2017, the Board of Directors of Auburn National Bancorporation, Inc. (Nasdaq:AUBN) declared a third quarter $0.23 per share cash dividend, payable September 25, 2017 to shareholders of record as of September 8, 2017.

About Auburn National Bancorporation, Inc.

Auburn National Bancorporation, Inc. (the “Company”) is the parent company of AuburnBank (the “Bank”), with total assets of approximately $836 million. The Bank is an Alabama state-chartered bank that is a member of the Federal Reserve System and has operated continuously since 1907. Both the Company and the Bank are headquartered in Auburn, Alabama. The Bank conducts its business in East Alabama, including Lee County and surrounding areas. The Bank operates full-service branches in Auburn, Opelika, Valley, and Notasulga, Alabama.  An in-store branch is located in the Kroger store in Opelika. The Bank also operates a commercial loan production office in Phenix City, Alabama. Additional information about the Company and the Bank may be found by visiting www.auburnbank.com.

CONTACT: For additional information, contact: E.L. Spencer, Jr. President, CEO and Chairman of the Board (334) 821-9200
Categories: State

Live Oak Bancshares, Inc. Announces Proposed Public Offering of Voting Common Stock

8 August 2017 - 3:15pm

WILMINGTON, N.C., Aug. 08, 2017 (GLOBE NEWSWIRE) -- Live Oak Bancshares, Inc. (Nasdaq:LOB) (“Live Oak” or “the Company”), parent company and registered bank holding company of Live Oak Banking Company (the “Bank”), today announced that it has commenced an underwritten offering of approximately 4,500,000 shares of its voting common stock pursuant to its existing shelf registration statement. The Company also intends to grant to the underwriters a 30-day option to purchase up to an additional 15% of the shares of voting common stock sold in the public offering. The Company intends to use the net proceeds from the offering to make investments in the Bank and in its nonbank subsidiaries, to enhance its capital position and that of the Bank, and for general corporate purposes.

Goldman Sachs & Co. LLC is acting as the sole book-running manager for the offering.  Sandler O’Neill & Partners, L.P and SunTrust Robinson Humphrey, Inc. are acting as co-managers.

The securities described above are being offered by Live Oak pursuant to a registration statement previously filed and declared effective by the Securities and Exchange Commission. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in this offering. The offering may be made only by means of a prospectus, copies of which may be obtained, when available, from Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, NY 10282, or by telephone at (866) 471-2526, or by email at prospectus-ny@ny.email.gs.com; from Sandler O'Neill + Partners, L.P., Attn: Prospectus Department, 1251 Avenue of the Americas, 6th Floor, New York, New York 10020; emailing syndicate@sandleroneill.com or calling (866) 805-4128; or writing to SunTrust Robinson Humphrey, Inc., Attn: Prospectus Department, 3333 Peachtree Road NE, 11th Floor, Atlanta, GA 30326; emailing STRH.Prospectus@suntrust.com or calling (404) 926-5744.

Important Note Regarding Forward-Looking Statements

Statements in this press release that are based on other than historical data or that express the Company’s plans or expectations regarding future events or determinations are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. Statements based on historical data are not intended and should not be understood to indicate the Company’s expectations regarding future events. Forward-looking statements provide current expectations or forecasts of future events or determinations. These forward-looking statements are not guarantees of future performance or determinations, nor should they be relied upon as representing management’s views as of any subsequent date. Forward-looking statements involve significant risks and uncertainties, and actual results may differ materially from those presented, either expressed or implied, in this press release. Factors that could cause actual results to differ materially from those expressed in the forward-looking statements include changes in Small Business Administration (“SBA”) rules, regulations or loan products, including the Section 7(a) program, changes in SBA standard operating procedures or changes in Live Oak Banking Company's status as an SBA Preferred Lender; changes in rules, regulations or procedures for other government loan programs, including those of the United States Department of Agriculture; a reduction in or the termination of the Company's ability to use the technology-based platform that is critical to the success of its business model, including a failure in or a breach of operational or security systems; competition from other lenders; the Company's ability to attract and retain key personnel; market and economic conditions and the associated impact on the Company; operational, liquidity and credit risks associated with the Company's business; the impact of heightened regulatory scrutiny of financial products and services and the Company's ability to comply with regulatory requirements and expectations; and the other factors discussed in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016 and in the Company’s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2017 filed with the Securities and Exchange Commission (“SEC”) and available at the SEC’s Internet site (http://www.sec.gov). Except as required by law, the Company specifically disclaims any obligation to update any factors or to publicly announce the result of revisions to any of the forward-looking statements included herein to reflect future events or developments.

The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

About Live Oak Bancshares, Inc.

Live Oak Bancshares, Inc. (Nasdaq:LOB) is a financial holding company and the parent company of Live Oak Banking Company, a national online platform for small business lending.

CONTACT: Contacts: Brett Caines | CFO | Investor Relations | 910.796.1645 & Micah Davis | Marketing Director | Media Relations | 910.550.2255

Categories: State

Amber Eisenhauer Joins Orrstown Bank as Branch Executive Officer in New Holland

8 August 2017 - 11:57am

SHIPPENSBURG, Pa., Aug. 08, 2017 (GLOBE NEWSWIRE) -- Orrstown Financial Services, Inc. (the “Company”) (NASDAQ:ORRF), the parent company of Orrstown Bank (the “Bank”) and Wheatland Advisors, Inc. ("Wheatland"), is pleased to announce that Amber Eisenhauer recently joined the Bank as a Branch Executive Officer. Ms. Eisenhauer will manage the Bank’s newest branch in New Holland (Lancaster County) which is scheduled to open on August 28, 2017.

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/fe61c532-359d-46ea-9548-0fdc49d925c4

Ms. Eisenhauer previously spent six years with Fulton Bank as a Relationship Manager in Lancaster County and resides in Ephrata.  She is a graduate of Penn State University.

David Hornberger, EVP/Market President, commented, “Orrstown Bank continues to expand and demonstrate its commitment to Lancaster County and I am excited to have Amber managing our newest location at 301 West Main Street in New Holland.  She has strong ties to the local community and exemplifies our philosophy of high-touch personalized service.”

As announced previously, in 2016 the Company acquired Wheatland Advisors, Inc., a registered investment advisory firm headquartered in Lancaster, and significantly expanded its customer-facing workforce in Berks, Dauphin, Lancaster, and York Counties. Most recently the Bank opened a new branch banking office at 566 Lausch Lane, Manheim Township, Lancaster County.

About the Company

With approximately $1.5 billion in assets, Orrstown Financial Services, Inc. and its wholly-owned subsidiaries, Orrstown Bank and Wheatland Advisors, Inc., provide a wide range of consumer and business financial services in Berks, Cumberland, Dauphin, Franklin, Lancaster, Perry, and York Counties, Pennsylvania and Washington County, Maryland.  Orrstown Bank is an Equal Housing Lender and its deposits are insured up to the legal maximum by the FDIC.  Orrstown Financial Services, Inc.’s stock is traded on Nasdaq (ORRF).  For more information about Orrstown Financial Services, Inc. and Orrstown Bank, visit www.Orrstown.com. For more information about Wheatland Advisors, Inc., visit www.WheatlandAdvisors.com.

Cautionary Note Regarding Forward-looking Statements: This news release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995.  Forward-looking statements are statements that include projections, predictions, expectations, or beliefs about events or results or otherwise are not statements of historical facts.

CONTACT: Contact: Mark Bayer SVP/Strategic Corporate Initiatives mbayer@orrstown.com 717-530-2297
Categories: State

Old National partners with Anchor Bank, expands into Minnesota’s Twin Cities

8 August 2017 - 8:10am

EVANSVILLE, Ind. and ST. PAUL, Minn., Aug. 08, 2017 (GLOBE NEWSWIRE) --

  • Headquartered in St. Paul, Anchor Bank, N.A. is one of Minnesota’s largest community banks serving the Twin Cities and Mankato markets
  • As of June 30, 2017, Anchor Bank had $2.1 billion in total assets, $1.6 billion in loans, $1.7 billion in deposits, $164 million in common shareholders’ equity and 18 bank locations
  • Anticipated closing in early 1st quarter 2018

Evansville, Indiana-based Old National Bancorp (NASDAQ:ONB) (“Old National”) and St. Paul, Minnesota-based Anchor Bancorp, Inc., (“Anchor”) jointly announced today the execution of a definitive agreement under which Old National will acquire Anchor through a stock and cash merger.  When completed, this transaction will position Old National as the seventh largest deposit holder in the Twin Cities market.

With $2.1 billion in total assets, $1.6 billion in total loans, $1.7 billion in deposits, and $164 million in common shareholder’s equity as of June 30, 2017, Anchor is a bank holding company with Anchor Bank, N.A. (“Anchor Bank”) as its wholly-owned subsidiary. Founded in 1967 and with 18 total branches, Anchor Bank is one of the largest community banks headquartered in the Twin Cities, and also serves Mankato, Minnesota.  Anchor Bank has no affiliation with the former AnchorBank in Madison, Wisconsin, which Old National acquired in 2016.

This transaction is a continuation of Old National’s strategy to focus the expansion of its franchise in demographically attractive and economically vibrant growth markets with favorable competitive dynamics.

“This partnership, which marks Old National’s entry into Minnesota, is a natural extension of our franchise,” said Old National President & CEO Bob Jones. “Not only does it position us in strong, vibrant markets with proven growth potential, it also represents a perfect cultural fit and an opportunity to continue the strong legacy of service that has distinguished Anchor Bank for 50 years.”

“As we were looking for new ways to help Anchor support our growth, and the growth of our customers, we concluded that partnering with a larger organization would be the best option for our shareholders, employees and customers,” Carl Jones, Anchor Bank CEO said. “I’m looking forward to introducing the Twin Cities to Old National Bank, which has built a solid reputation for Midwestern sensibility, community-values and strong underlying ethics.”

Founded in Evansville, Indiana in 1834, with $15 billion in total assets and 188 banking centers as of June 30, 2017, Old National, the parent company of Old National Bank, is the largest financial services holding company headquartered in Indiana.

Under the terms of the agreement, Anchor shareholders will receive 1.35 shares of Old National common stock and $2.625 in cash for each share of common stock of Anchor they hold.  Based on Old National’s closing share price on August 7, 2017, of $16.45, this represents a total transaction value of approximately $303.2 million. The transaction value is likely to change due to fluctuations in the price of Old National common stock and is also subject to adjustment under certain circumstances as provided in the merger agreement.  The definitive merger agreement has been unanimously approved by the Board of Directors of both Old National and Anchor.  The transaction remains subject to regulatory approval and the vote of Anchor shareholders.  The transaction is anticipated to close early in first quarter 2018.

Old National was advised by Keefe, Bruyette and Woods, Inc. and the law firm of Krieg DeVault LLP.  Anchor was advised by Sandler O’Neill + Partners, L.P. and the law firm of Barack Ferrazzano Kirschbaum & Nagelberg LLP.

About Old National Bancorp
Old National Bancorp (NASDAQ:ONB), the holding company of Old National Bank, is the largest financial services holding company headquartered in Indiana. With $15.0 billion in assets, it ranks among the top 100 banking companies in the U.S. and has been recognized as a World’s Most Ethical Company by the Ethisphere Institute for six consecutive years. Since its founding in Evansville in 1834, Old National Bank has focused on community banking by building long-term, highly valued partnerships with clients. Today, Old National’s footprint includes Indiana, Kentucky, Michigan and Wisconsin. In addition to providing extensive services in retail and commercial banking, Old National offers comprehensive wealth management, investments and brokerage services. For more information and financial data, please visit Investor Relations at oldnational.com.

About Anchor Bancorp, Inc.
Anchor Bank, N.A., has been helping Minnesota customers achieve financial success, one relationship at a time, since 1967, and has achieved its place as one of the largest community banks in Minnesota through a solid dedication to integrity, excellence, and commitment to its customers, its employees, and the communities it serves. Headquartered in St. Paul, with more than $2 billion in assets, Anchor Bank is proud to offer a complete range of financial services for both individual and business clients. For more information about Anchor Bank’s business and personal services, visit anchorlink.com. Anchor Bank is subsidiary of Anchor Bancorp, Inc., a Minnesota corporation located in St. Paul, MN.

Conference Call
Old National will hold a conference call at 10:00 a.m. Central Time on Tuesday, August 8, 2017, to discuss the acquisition of Anchor Bank.  The live audio web cast of the call, along with the corresponding presentation slides, will be available on the Company’s Investor Relations web page at oldnational.com and will be archived there for 12 months.  A replay of the call will also be available from 7:00 a.m. Central Time on August 9 through August 22.  To access the replay, dial 1-855-859-2056, Conference ID Code 67015905.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements about the expected timing, completion, financial benefits and other effects of the proposed merger between ONB and Anchor. Forward-looking statements can be identified by the use of the words “anticipate,” “believe,” “expect,” “intend,” “could” and “should,” and other words of similar meaning. These forward-looking statements express management’s current expectations or forecasts of future events and, by their nature, are subject to risks and uncertainties and there are a number of factors that could cause actual results to differ materially from those in such statements. Factors that might cause such a difference include, but are not limited to: expected cost savings, synergies and other financial benefits from the proposed merger might not be realized within the expected time frames and costs or difficulties relating to integration matters might be greater than expected; the requisite regulatory approvals for the proposed merger might not be obtained; satisfaction of other closing conditions; delay in closing the proposed merger; the reaction to the transaction of the companies’ customers and employees; market, economic, operational, liquidity, credit and interest rate risks associated with ONB’s and Anchor’s businesses; competition; government legislation and policies (including the impact of the Dodd-Frank Wall Street Reform and Consumer Protection Act and its related regulations); ability of ONB and Anchor to execute their respective business plans (including integrating the ONB and Anchor businesses); changes in the economy which could materially impact credit quality trends and the ability to generate loans and gather deposits; failure or circumvention of our internal controls; failure or disruption of our information systems; significant changes in accounting, tax or regulatory practices or requirements; new legal obligations or liabilities or unfavorable resolutions of litigations; other matters discussed in this press release and other factors identified in ONB’s Annual Report on Form 10-K and other periodic filings with the SEC. These forward-looking statements are made only as of the date of this press release, and neither ONB nor Anchor undertakes an obligation to release revisions to these forward-looking statements to reflect events or conditions after the date of this press release.

Additional Information About the Old National Bancorp/Anchor Bancorp, Inc. Transaction

Communications in this document do not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. In connection with the proposed merger, ONB will file with the SEC a Registration Statement on Form S-4 that will include a Proxy Statement of Anchor and a Prospectus of ONB, as well as other relevant documents concerning the proposed transaction. Shareholders are urged to read the Registration Statement and the Proxy Statement/Prospectus regarding the merger when it becomes available and any other relevant documents filed with the SEC, as well as any amendments or supplements to those documents, because they will contain important information. A free copy of the Proxy Statement/Prospectus, as well as other filings containing information about ONB and Anchor, may be obtained at the SEC’s Internet site (http://www.sec.gov). You will also be able to obtain these documents, free of charge, from ONB at www.oldnational.com under the tab “Investor Relations” and then under the heading “Financial Information.”

ONB and Anchor and certain of their directors and executive officers may be deemed to be participants in the solicitation of proxies from the shareholders of Anchor in connection with the proposed merger. Information about the directors and executive officers of ONB is set forth in the proxy statement for ONB’s 2017 annual meeting of shareholders, as filed with the SEC on a Schedule 14A on March 6, 2017.  Additional information regarding the interests of those participants and other persons who may be deemed participants in the transaction may be obtained by reading the Proxy Statement/Prospectus regarding the proposed merger when it becomes available. Free copies of this document may be obtained as described in the preceding paragraph.

CONTACT: oldnational.com Old National Contacts: Media Relations Kathy A. Schoettlin – (812) 465-7269/(812) 319-2711 Investor Relations Lynell J. Walton – (812) 464-1366 Anchor Bank Contacts: Media Relations Catherine Higgins Whiteside – (651) 675-4686/(612) 501-0761 Investor Relations Dennis Nisler, CFO – (952) 476-5241
Categories: State

Chris Mitchell Joins TAB Bank’s Business Development Team

8 August 2017 - 8:10am

OGDEN, Utah, Aug. 08, 2017 (GLOBE NEWSWIRE) -- TAB Bank is pleased to announce the addition of Chris Mitchell (404-432-7657, chris.mitchell@tabbank.com) to their business development team as Vice President and Business Development Officer.  Chris will be based in Atlanta and will be responsible for sourcing new business opportunities by providing asset-based and factoring working capital facilities to commercial entities in the Southeastern United States with annual revenues of $2 million to $150 million.

Chris has over 25 years of experience in the asset-based lending and factoring industries.  The majority of Chris’s career has been providing small to mid-size companies with asset-based loans, accounts receivable financing, factoring, and equipment funding solutions to support their working capital needs.  Recently, Chris’s experience includes positions at Hitachi Business Finance, Greenfield Financial, and other boutique finance companies.  Earlier in his career, he started First Capital Corporation’s Atlanta office as Vice President/Region Manager where he was responsible for new loan origination for asset-based lending and factoring transactions for small to mid-size companies throughout the Southeast.  Chris earned a Bachelor of Science degree in Finance from Auburn University.

“Chris’s addition to our business development team is a critical step of our strategy to create and nurture relationships and opportunities with small to mid-sized companies in the Southeast.  Our goal is to build momentum in this region of the country by offering working capital facilities and business banking solutions through a collaborative effort with our current clients, prospective clients, and centers of influence.  The addition of Chris to our business development team greatly enhances our ability to achieve these goals.  We are very pleased he has joined our team and we look forward to the new opportunities that will be the result of his efforts,” commented Justin Gordon, SVP of Sales and Marketing for TAB Bank.

TAB Bank provides custom working capital solutions to commercial businesses across a wide range of industries.  These solutions can be customized to meet the needs of companies in all stages of the business life cycle and during any economic conditions.  TAB Bank does this through a variety of asset-based structures including Asset-Based Revolving Loans, Accounts Receivable Financing, Lines of Credit, and Equipment Finance.  TAB’s lending options can also be combined with a full suite of business banking solutions and Treasury Management Services.

CONTACT: Contact Information: Trevor Morris Director of Marketing 801-624-5172 trevor.morris@tabbank.com Twitter - @TABBank Facebook – facebook.com/TABbank
Categories: State

Orrstown Bank Announces Addition of Two Commercial Lenders, Danielle Makrias and Michael Kilgour; Expansion into York County

7 August 2017 - 1:13pm

SHIPPENSBURG, Pa., Aug. 07, 2017 (GLOBE NEWSWIRE) -- Orrstown Financial Services, Inc. (the “Company”) (NASDAQ:ORRF), the parent company of Orrstown Bank (the “Bank”) and Wheatland Advisors, Inc. ("Wheatland"), announced today that Danielle Makrias and Michael Kilgour recently joined the bank as VP/Relationship Managers.  Ms. Makrias and Mr. Kilgour will be based at the Bank’s Harrisburg Regional Office and will have primary responsibility for commercial business development in York County.  Both will report to Charles “Chip” Wasson, SVP/Regional Senior Loan Officer.

Photos accompanying this announcement are available at

http://www.globenewswire.com/NewsRoom/AttachmentNg/05489b4c-5665-4b5c-b7ec-83d8953ed96e

http://www.globenewswire.com/NewsRoom/AttachmentNg/0b2fcd98-93e8-469f-b1e2-9578dec26ae4

Adam Metz, EVP/Chief Lending Officer, commented, “The addition of Danielle and Mike will support our continued strategic growth in strong markets affected by disruption and I believe our banking model, characterized by local decision making, personalized high-touch service, and commitment to the communities we serve, will be well received in York County.”

Mr. Wasson added, “I am excited to welcome Danielle and Mike to the team. They both have a depth and breadth of experience and solid business connections in the York market and further demonstrate that Orrstown Bank has become an employer of choice in the region.”

Ms. Makrias most recently worked for First National Bank of Pennsylvania after spending several years at Metro Bank.  She is a graduate of the University of Missouri and resides in York.

Mr. Kilgour most recently worked for First National Bank of Pennsylvania and has more than 26 years of financial services experience, including 18 in the York County market. He is a graduate of Drake University and the PBA School of Banking. Mr. Kilgour also resides in York.

As announced previously, in December of 2016 the Company acquired Wheatland Advisors, Inc., a registered investment advisory firm headquartered in Lancaster, and in 2016 significantly expanded its customer-facing workforce in Dauphin, Lancaster, and Berks Counties. Most recently the Bank opened a new branch banking office at 566 Lausch Lane, Manheim Township and has another office scheduled to open later this summer in New Holland, Lancaster County*.

About the Company

With approximately $1.5 billion in assets, Orrstown Financial Services, Inc. and its wholly-owned subsidiaries, Orrstown Bank and Wheatland Advisors, Inc., provide a wide range of consumer and business financial services through banking and financial advisory offices in Berks, Cumberland, Dauphin, Franklin, Lancaster, Perry, and York Counties, Pennsylvania and Washington County, Maryland.  Orrstown Bank is an Equal Housing Lender and its deposits are insured up to the legal maximum by the FDIC.  Orrstown Financial Services, Inc.’s stock is traded on Nasdaq (ORRF).  For more information about Orrstown Financial Services, Inc. and Orrstown Bank, visit www.Orrstown.com. For more information about Wheatland Advisors, Inc., visit www.WheatlandAdvisors.com.

Cautionary Note Regarding Forward-looking Statements: This news release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995.  Forward-looking statements are statements that include projections, predictions, expectations, or beliefs about events or results or otherwise are not statements of historical facts.

*Subject to customary regulatory approval.

 

CONTACT: Contact: Mark Bayer SVP/Strategic Corporate Initiatives mbayer@orrstown.com 717-530-2297
Categories: State

An expanding Atlantic Capital adds new executive to help with holistic growth

7 August 2017 - 10:55am

ATLANTA, Aug. 07, 2017 (GLOBE NEWSWIRE) -- New hire Annette Rollins is bringing a strategic and cultural vision to Atlantic Capital Bank as the new Executive Vice President, Chief Human Resources Officer.

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/26773cf8-2ade-48cf-a2e7-0a2070920345

A 35-year industry veteran, Rollins will be a part of the executive management team. In addition to the traditional human resources responsibilities, Rollins will collaborate with executive leadership to shape company culture as Atlantic Capital grows.

“I’ve been traveling to Atlantic Capital locations to meet employees and leaders to listen and get their feedback,” Rollins said. “Our people have a deep love of Atlantic Capital and want to be a part of something great. I want to be a part of making that happen.”

Before joining Atlantic Capital, Rollins was Executive Vice President and Chief Human Resources Officer at BNC Bank from 2012. And before that, she was Executive Vice President Human Resources Director at First Citizens Bank from 2002 to 2012.

Rollins said she chose to join Atlantic Capital because of the organization’s quality.

“Being a career banker, I’ve known about Atlantic Capital because of its outstanding reputation,” Rollins said. “Having the opportunity to be a part of the quality Atlantic Capital team was very important to me in deciding to join the company.  Being a native of the Atlanta area where I still have family and friends was the icing on the cake.”

Doug Williams, Atlantic Capital CEO, said Rollins’ experience would strategically benefit a growing Atlantic Capital Bank.

“Annette brings to Atlantic Capital particular experience and skill in managing an effective human resources function and in building culture in organizations undergoing rapid change.  We are grateful she has chosen to join our team,” said Williams.

Rollins has a bachelor’s degree in business administration from Southern Wesleyan University and several professional certifications, including Senior Professional in Human Resources and the SHRM – Senior Certified Professional.

Volunteerism has marked Rollins' professional career. She has served on several boards, including the Girl Scouts of South Carolina (Mountains to Midlands Council) and the Salvation Army of Greensboro, North Carolina.

Rollins lives with her husband of 32 years, George, in Atlanta.

About Atlantic Capital Bank, NA

Atlantic Capital Bank, NA is a subsidiary of Atlantic Capital Bancshares, Inc. which is a $2.8 billion publicly traded bank holding company headquartered in Atlanta, Georgia. Atlantic Capital offers banking, treasury management, capital markets, trust, and mortgage services to privately held companies and individuals in Atlanta, eastern Tennessee, northwest Georgia and Charlotte, NC. Atlantic Capital also provides specialized financial services to select clients nationally. For more information, visit our website at www.atlanticcapitalbank.com.

CONTACT: Ashley Carson 404.995.6214 ashley.carson@atlcapbank.com
Categories: State

SECU Helps Nearly 34,000 Members with Estate Planning Needs

7 August 2017 - 10:48am

RALEIGH, N.C., Aug. 07, 2017 (GLOBE NEWSWIRE) -- In 2011, State Employees’ Credit Union (SECU) debuted its Estate Planning Essentials Program to provide an affordable option for members needing basic estate planning services, such as a will and power of attorney.  Recognizing that most assume estate planning is only for the wealthy, the Credit Union goal was to offer the service to members, regardless of economic status.  In just over six years, the Estate Planning Essentials Program has helped nearly 34,000 members strengthen their financial picture with a high-quality estate plan.

The Program underscores the Credit Union’s commitment to providing comprehensive financial planning services, which complements its other financial advisory service offerings such as insurance, investments and tax preparation options.  SECU members have access to 450 licensed SECU Trust representatives statewide who, through MEMBERS® Trust Company, discuss a Will with possible trust provisions, a Durable Power of Attorney (POA), a Health Care Power of Attorney (HCPOA) and Living Will, a HIPAA Authorization and other aspects of end-of-life planning.  Members can then schedule an in-branch appointment with an experienced estate planning attorney to have their documents prepared at a cost of just $275 for individuals and $375 for a married couple with similar plans completed at the same time.

SECU member Dan Hess of Garner, North Carolina recently took advantage of this beneficial service and noted, “I was thankful to have the opportunity to use the Estate Planning Essentials Program.  I found the process to be enlightening and inexpensive, and something I might have put off taking care of if it wasn’t for the Credit Union.  It’s a very valuable program and I recommend it to all members regardless of age.”

Jessica Evans, Senior Vice President of SECU’s Trust Services department, remarked, “SECU’s Estate Planning Essentials Program has grown tremendously, particularly since 2014, nearly doubling those served from 17,000 to almost 34,000.  We are happy to see that more and more members are recognizing the need to plan ahead, ensuring their family’s needs are met as they intend in the event of their death.  Thanks to the dedicated efforts of our staff throughout the state, the Credit Union is working continuously to help members prepare for a sound financial future.”

Attorneys participating in the Estate Planning Essentials Program are not employees or agents of the Credit Union (SECU, LGFCU or NCPAFCU), MEMBERS® Trust Company or any affiliated entity.  SECU Trust Representatives are not employees or agents of the participating attorneys.  The Credit Union and MEMBERS® Trust Company are not providing legal services and are not responsible for the services provided by these independent professionals.  The Estate Planning Essentials Program is an optional program for members.  Credit Union Members have the option to use an attorney participating in the program or select their own attorney.

Trust Services offered through MEMBERS® Trust Company, a federal thrift regulated by the Office of the Comptroller of the Currency.  Trust products are not credit union deposits, are not insured by the NCUA or any other federal government agency, are not obligations of or guaranteed by the credit union, MEMBERS® Trust Company or any affiliated entity, and involve investment risks, including the possible loss of principal.  The material above is for educational purposes only and is not intended to provide legal or tax advice regarding your situation.  For legal or tax advice, please consult your attorney and/or tax professional.

About SECU
A not-for-profit financial cooperative owned by its members, SECU has been providing employees of the State of North Carolina and their families with consumer financial services for 80 years.  The Credit Union also offers a diversified line of financial advisory services including retirement and education planning, tax preparation, insurance, trust and estate planning services, and investments through its partners and affiliated entities.  SECU serves 2.2 million members through 258 branch offices, nearly 1,100 ATMs, 24/7 Member Services via phone and a website, www.ncsecu.org.

CONTACT: Contact: Leigh Brady, EVP – Organizational Development Office: 919-807-8347 | leigh.brady@ncsecu.org

Categories: State

Investar Holding Corporation Expands its Baton Rouge Market by Announcing Agreement to Acquire BOJ Bancshares, Inc., Jackson, Louisiana

7 August 2017 - 5:00am

BATON ROUGE, La., Aug. 07, 2017 (GLOBE NEWSWIRE) -- Investar Holding Corporation (“Investar”) (Nasdaq:ISTR), the holding company for Investar Bank, today announced that it has entered into a definitive agreement (the “Agreement”) to acquire BOJ Bancshares, Inc. (“BOJ”) and its wholly owned subsidiary, The Highlands Bank (“Highlands Bank”) in Jackson, Louisiana. The transaction, which has been unanimously approved by each company’s board of directors, is expected to close in the fourth quarter of 2017 and is subject to customary closing conditions, including obtaining approval by BOJ’s shareholders and bank regulatory authorities.

The Agreement provides for consideration to be paid to the shareholders of BOJ in the form of cash and shares of Investar common stock. Shareholders of BOJ will be entitled to receive an aggregate amount of cash consideration equal to $3.95 million, subject to certain adjustments. The transaction is valued at approximately $22.1 million based upon the closing price of Investar’s common stock of $22.65 on August 4, 2017. Shareholders of BOJ will also be entitled to receive an aggregate of 799,559 shares of Investar common stock, subject to adjustment based upon fluctuations in Investar’s average closing price for the ten consecutive trading days prior to the closing date. It is expected that shareholders of BOJ will own approximately 9% of the combined company following the acquisition.

At June 30, 2017, BOJ had approximately $150 million in assets, $104 million in net loans, and $124 million in deposits and $17 million in stockholders’ equity. Highlands Bank offers a full range of banking products and services to the residents of East Feliciana, West Feliciana, and East Baton Rouge Parishes through its five branch locations.

Investar’s acquisition of Highlands Bank would expand Investar’s branch footprint in the Baton Rouge market - further bolstering its core deposit base and positioning Investar to continue to build on its existing record of growth and client service under the leadership of its current management team. For Highlands Bank, the transactions would offer the benefits of additional financial strength and the expanded resources of a larger banking enterprise. Although Highlands Bank will transition to the Investar name, the experienced Highlands Bank branch staff is expected to remain intact, continuing to provide exemplary and personal service to Highlands Bank’s growing customer base.

Investar estimates annual pre-tax expense reductions associated with the transaction will approximate 30% of Highlands Bank’s annual non-interest expenses. The expense savings are estimated to be fully achieved beginning in 2018. The transaction is expected to be immediately accretive to 2018 EPS and accretive to tangible book value at closing.

“Investar is extremely excited to expand in the Baton Rouge market through the acquisition of Highlands Bank,” said John D’Angelo, President and Chief Executive Officer of Investar. “The acquisition of Highlands Bank fits our strategy of expansion through extensions of our existing markets. We believe this limits integration risk and allows us to continue to build our brand in our existing and surrounding markets. Mike Creed, the current President and Chief Executive Officer of Highlands Bank, is a seasoned banker who will add significant strength to our existing management team by maintaining a vital and influential role for the combined organization. We are excited to leverage his banking knowledge and experience to assist us with M&A, technology development, and growing our existing Baton Rouge presence. Both we and Highlands Bank are customer service focused community banks and look forward to welcoming the customers and employees of the Highlands Bank to the Investar family.”

Mike Creed, President and Chief Executive Officer of Highlands Bank stated, “Our employees and board have worked tirelessly to build a strong community bank. We feel that Investar has the same service standards and commitment to the community as Highlands Bank. I am pleased that we will be providing Investar with additional locations in new areas of its existing Baton Rouge market and the ability to serve more customers. Highlands Bank customers should see a seamless transition and have the ability to work with the same local leadership following the proposed acquisition.”                                                                                              

Sandler O’Neill & Partners, L.P. acted as financial advisor to Investar Holding Corporation. Fenimore, Kay, Harrison & Ford LLP served as legal counsel to Investar Holding Corporation and Kantrow, Spaht, Weaver, & Blitzer (APLC) served as legal counsel to BOJ Bancshares, Inc.

About Investar

Investar Holding Corporation, headquartered in Baton Rouge, Louisiana, provides full banking services, excluding trust services, through its wholly-owned banking subsidiary, Investar Bank, a state chartered bank. The Company’s primary market is South Louisiana and it currently operates 15 full service banking offices located throughout its market. At June 30, 2017, the Company had 157 full-time equivalent employees.

Forward-Looking Statements

This press release may include forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based upon current expectations and assumptions about our business that are subject to a variety of risks and uncertainties that could cause the actual results to differ materially from those described in this press release. You should not rely on forward-looking statements as a prediction of future events.

Additional information regarding factors that could cause actual results to differ materially from those discussed in any forward-looking statements are described in reports and registration statements we file with the SEC, including our Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, copies of which are available on the Investar internet website http://www.investarbank.com.

We disclaim any obligation to update any forward-looking statements or any changes in events, conditions or circumstances upon which any forward-looking statement may be based except as required by law.

CONTACT: Contact: Investar Holding Corporation Chris Hufft Chief Financial Officer (225) 227-2215 Chris.Hufft@investarbank.com

Categories: State

Ribbon Cutting Marks Official Opening of SECU Hospice Care Center of Yadkin

4 August 2017 - 4:44pm

RALEIGH, N.C., Aug. 04, 2017 (GLOBE NEWSWIRE) -- Wednesday’s ribbon cutting ceremony marked the official opening of SECU Hospice Care Center of Yadkin, the first inpatient hospice facility in Yadkin County to serve patients and families in the Yadkin Valley region.  The dedication was well attended, with representatives from State Employees’ Credit Union (SECU) and SECU Foundation joining leaders from Mountain Valley Hospice & Palliative Care, Hospice of Surry County, Inc. and numerous local and county supporters.  SECU members, through their Foundation, helped boost capital campaign efforts for the construction of the 11,000 square foot Yadkinville facility with a $1 million challenge grant announced in 2015.

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/4d3c5927-f4b8-4370-bdd7-2253206c7d69

SECU Foundation Board member Michael Clements spoke briefly during the ceremony.  Highlighting the commitment of Credit Union members, partnering groups and volunteers, Clements remarked, “This has been a long-awaited day and we would like to acknowledge the hard work and perseverance of all who have supported the great need for inpatient hospice care services in this region.  The challenge has been met and now SECU Hospice Care Center of Yadkin is helping meet the increased need for respite and hospice care services for family members of patients who can no longer be cared for in the home.”

“The staff and volunteers of Mountain Valley Hospice are grateful for the support of State Employees’ Credit Union members in making our new Yadkin hospice home a reality,” said Denise Watson, Executive Director of Hospice of Surry County, Inc.  “Because of their generous matching donation, we can now better serve the growing needs of hospice patients and their families in Yadkin and surrounding counties.  Our mission of compassionate care will be sustained for many years to come.”

About SECU and the SECU Foundation
A not-for-profit financial cooperative owned by its members, SECU has been providing employees of the State of North Carolina and their families with consumer financial services for 80 years.  The Credit Union also offers a diversified line of financial advisory services including retirement and education planning, tax preparation, insurance, trust and estate planning services, and investments through its partners and affiliated entities.  SECU serves 2.2 million members through 258 branch offices, nearly 1,100 ATMs, 24/7 Member Services via phone and a website, www.ncsecu.org.  The SECU Foundation, a 501c (3) charitable organization funded solely by the contributions of SECU members, promotes local community development in North Carolina primarily through high impact projects in the areas of housing, education, healthcare and human services.  Since 2005, SECU Foundation has made a collective financial commitment of more than $130 million for initiatives to benefit North Carolinians statewide.

CONTACT: Contact: Jama Dagenhart, Executive Director Office: 919-839-5562 | secufoundation@ncsecu.org
Categories: State

Home BancShares, Inc. Named as a Top-Performer in Nation

4 August 2017 - 8:15am

CONWAY, Ark., Aug. 04, 2017 (GLOBE NEWSWIRE) -- Home BancShares, Inc. (NASDAQ:HOMB), parent company of Centennial Bank, announced they were named as one of the top 10 performing banks in the nation with assets between $5 billion and $50 billion by Bank Director magazine, earning an eighth place ranking out of 117 banks in the same asset size category.  Bank Director's annual bank performance scorecard analysis included the 300 largest publically traded banks and is based on five key metrics related to profitability, capital strength and asset quality.

Based on the results of Bank Director’s 2017 Bank Performance Scorecard, Home BancShares ranked second in core return on assets at a 1.91% return and fifth in core return on average equity at a 14.51% return. 

Additionally, Stonegate Bank, which Home BancShares is set to acquire in the fourth quarter of 2017, ranked twelfth among banks with assets between $1 billion and $5 billion. 

“We are honored Home BancShares has been recognized nationally among the top-performing banks of our size,” said John Allison, Chairman.  “This recognition is a nice reward for sound decision-making through the years across our organization. We are proud of our ability to continue improving shareholder value and financial performance for our investors.”

The 2017 Bank Performance Scorecards appears in the 3rd Quarter 2017 edition of the Bank Director magazine. The 2017 Bank Performance Scorecard was calculated by Sandler O’Neill & Partners, L.P., a New York-based investment banking firm, using data provided to it by S&P Global Market Intelligence (formerly SNL Financial) in Charlottesville, Virginia.

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 branch locations in Arkansas, Florida, South Alabama and New York City. 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 is included in its Annual Report on Form 10-K for the year ended December 31, 2016 filed with the Securities and Exchange Commission (the “SEC”) on February 28, 2017.

CONTACT: FOR MORE INFORMATION CONTACT: Jennifer C. Floyd Chief Accounting Officer & Investor Relations Officer Home BancShares, Inc. (501) 339-2929

Categories: State

Southside Bancshares, Inc. Declares Cash Dividend

3 August 2017 - 4:30pm

TYLER, Texas, Aug. 03, 2017 (GLOBE NEWSWIRE) -- The Board of Directors of Southside Bancshares, Inc., (NASDAQ:SBSI), parent company of Southside Bank declared a regular quarterly cash dividend of $0.28 per common share.  The cash dividend is payable to common stock shareholders of record August 17, 2017.  The cash dividend is scheduled for payment on August 31, 2017.

About Southside Bancshares, Inc.

Southside Bancshares, Inc. is a bank holding company with approximately $5.58 billion in assets as of June 30, 2017, that owns 100% of Southside Bank.  Southside Bank currently has 60 banking centers in Texas and operates a network of 70 ATMs.

To learn more about Southside Bancshares, Inc., please visit our investor relations website at www.southside.com/about/investor-relations.  Our investor relations site provides a detailed overview of our activities, financial information and historical stock price data.  To receive e-mail notification of company news, events and stock activity, please register on the E-mail Notification portion of the website.  Questions or comments may be directed to Suni Davis at (903) 531-7235, or suni.davis@southside.com.

Forward-Looking Statements

Certain statements of other than historical fact that are contained in this document and in other written material, press releases and oral statements issued by or on behalf of the Company may be considered to be “forward-looking statements” within the meaning of and subject to the safe harbor protections of the Private Securities Litigation Reform Act of 1995.  These forward-looking statements are not guarantees of future performance, nor should they be relied upon as representing management’s views as of any subsequent date.  These statements may include words such as “expect,” “estimate,” “project,” “anticipate,” “appear,” “believe,” “could,” “should,” “may,” “likely,” “intend,” “probability,” “risk,” “target,” “objective,” “plans,” “potential,” and similar expressions.  Forward-looking statements are statements with respect to the Company’s beliefs, plans, expectations, objectives, goals, anticipations, assumptions and estimates about the Company's future performance and are subject to significant known and unknown risks and uncertainties, which could cause the Company's actual results to differ materially from the results discussed in the forward-looking statements.  For example, discussions about trends in asset quality, capital, liquidity, the pace of loan and revenue growth, the Company's ability to sell nonperforming assets, expense reductions, planned operational efficiencies, earnings, pending acquisitions, and certain market risk disclosures, including the impact of interest rates and other economic factors, are based upon information presently available to management and are dependent on choices about key model characteristics and assumptions and are subject to various limitations.  By their nature, certain of the market risk disclosures are only estimates and could be materially different from what actually occurs in the future.

Additional information concerning the Company and its business, including additional factors that could materially affect the Company’s financial results, is included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016, under “Forward-Looking Information” and Item 1A.  “Risk Factors,” and in the Company’s other filings with the Securities and Exchange Commission.  The Company disclaims any obligation to update any factors or to announce publicly the result of revisions to any of the forward-looking statements included herein to reflect future events or developments.

CONTACT: For further information: Suni Davis 903 531-7235
Categories: State

SmartFinancial Attends KBW Community Bank Investor Conference

3 August 2017 - 4:00pm

KNOXVILLE, Tenn., Aug. 03, 2017 (GLOBE NEWSWIRE) -- SmartFinancial, Inc. ("SmartFinancial") (NASDAQ:SMBK), SmartFinancial presented at the KBW Community Bank Investor Conference on August 1-2, 2017 in New York City. Conference materials will be published on the company’s webpage located at http://www.smartfinancialinc.com/CorporateProfile .

About SmartFinancial, Inc.

SmartFinancial, Inc., based in Knoxville, Tennessee, is the bank holding company for SmartBank. SmartBank is a full-service commercial bank founded in 2007, with 14 branches, one loan production offices, and one mortgage production office, all of which are located in East Tennessee, the Florida Panhandle, and North Georgia. Recruiting the best people, delivering exceptional client service, strategic branching and a conservative and disciplined approach to lending have contributed to SmartBank’s success. More information about SmartFinancial can be found on its website: www.smartfinancialinc.com.

CONTACT: Investor Contacts Billy Carroll President & CEO (865) 868-0613 Frank Hughes Executive Vice President, Investor Relations (423) 385-3009 Media Contact Kelley Fowler First Vice President, Public Relations & Marketing SmartBank (865) 868-0611 kelley.fowler@smartbank.com
Categories: State

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