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Contains the last 10 releases
Updated: 7 hours 19 min ago

Washington Trust Provides $1.1 Million in Financing for Construction of a Dollar General Store in Morris, CT

13 November 2018 - 10:00am

MORRIS, Conn., Nov. 13, 2018 (GLOBE NEWSWIRE) -- Washington Trust’s Commercial Real Estate Group recently provided $1.1 million in financing to MCG Morris, LLC, for the construction of a Dollar General Store in Morris, Connecticut. Located at 16 West Street in Morris, the new retail property includes 7,544 square feet of space on a 1.33 acre parcel. Dollar General was founded in 1939 and operates more than 13,600 stores across 44 states.

“Our client has a talent for finding strategic locations for the  Dollar General locations that they build - filling a real niche in the community,” said Julia Anne M. Slom, Senior Vice President & Team Leader of Washington Trust’s Commercial Real Estate Group. “We are very pleased to be a partner in this venture.” 

MCG Morris, LLC, is a single owner limited liability company.

Washington Trust's Commercial Real Estate Group provides commercial real estate mortgages for the construction, refinancing, or purchasing of investment real estate projects. Financing ranges in size from several hundred thousand dollars up to multi-million dollar projects. For more information, contact Mary Ettinger, Vice President, Commercial Real Estate Group, at 401-348-1415 or 1-800-475-2265 ext. 1415.

ABOUT WASHINGTON TRUST®
Founded in 1800, Washington Trust is the oldest community bank in the nation and one of the Northeast’s premier financial services companies. Washington Trust offers a full range of financial services, including commercial banking, mortgage banking, personal banking and wealth management and trust services through its offices located in Rhode Island, Connecticut and Massachusetts. The Washington Trust Company is a subsidiary of Washington Trust Bancorp, Inc., (NASDAQ: WASH). Additional information on Washington Trust and its subsidiaries can be found at https://www.washtrust.com/.

MEDIA CONTACT: Tony Nunes
Public Relations 
401.348.1657
ajnunes@washtrust.com
Categories: State

HomeTrust Bancshares Announces the Completion of Previous Stock Repurchase Program

12 November 2018 - 8:30am

ASHEVILLE, N.C., Nov. 12, 2018 (GLOBE NEWSWIRE) -- HomeTrust Bancshares, Inc. (the “Company”) (NASDAQ: HTBI), the holding company for HomeTrust Bank, announced the completion of its December 2015, 5% stock repurchase program. A total of 922,855 shares were repurchased at an average price of $22.88 per share.

Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements often include words such as "believe," "expect," "anticipate," "estimate," and "intend" or future or conditional verbs such as "will," "would," "should," "could," or "may." Forward-looking statements are not historical facts but instead represent management's current expectations and forecasts regarding future events, many of which are inherently uncertain and outside of our control. Actual results may differ, possibly materially, from those currently expected or projected in these forward-looking statements. Factors that could cause our actual results to differ materially from those described in the forward-looking statements, include expected cost savings, synergies and other financial benefits from our acquisitions  might not be realized within the expected time frames or at all, and costs or difficulties relating to integration matters might be greater than expected; increased competitive pressures; changes in the interest rate environment; changes in general economic conditions and conditions within the securities markets; legislative and regulatory changes; and other factors described in HomeTrust's latest annual Report on Form 10-K and Quarterly Reports on Form 10-Q and other documents filed with or furnished to the Securities and Exchange Commission - which are available on our website at www.htb.com and on the SEC's website at www.sec.gov. Any of the forward-looking statements that we make in this press release or the documents we file with or furnish to the SEC are based upon management's beliefs and assumptions at the time they are made and may turn out to be wrong because of inaccurate assumptions we might make, because of the factors described above or because of other factors that we cannot foresee. We do not undertake and specifically disclaim any obligation to revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements. These risks could cause our actual results for fiscal 2019 and beyond to differ materially from those expressed in any forward-looking statements by, or on behalf of, us and could negatively affect our operating and stock performance.

About HomeTrust Bancshares, Inc.
HomeTrust Bancshares, Inc. is the holding company for HomeTrust Bank. As of September 30, 2018, the Company had assets of $3.4 billion. The Bank, founded in 1926, is a North Carolina state chartered, community-focused financial institution committed to providing value added relationship banking through 43 locations as well as online/mobile channels. Locations include:  North Carolina (including the Asheville metropolitan area, the "Piedmont" region, Charlotte, and Raleigh/Cary), Upstate South Carolina (Greenville), East Tennessee (including Kingsport/Johnson City/Bristol, Knoxville, and Morristown) and Southwest Virginia (including the Roanoke Valley). The Bank is the second largest community bank headquartered in North Carolina.

www.htb.com 

www.hometrustbancshares.com

 
Contact:

Dana L. Stonestreet – Chairman, President and Chief Executive Officer
Tony J. VunCannon – Executive Vice President, Chief Financial Officer, Corporate Secretary and Treasurer
828-259-3939

Categories: State

CBTX, Inc. Announces Redemption of Certain of its Trust Preferred Securities

9 November 2018 - 4:30pm

HOUSTON, Nov. 09, 2018 (GLOBE NEWSWIRE) -- CBTX, Inc. (Nasdaq: CBTX), the bank holding company for CommunityBank of Texas N.A. (the “Company”), today announced that Crosby Statutory Trust I (the “Crosby Trust”) will redeem all of the Crosby Trust’s issued and outstanding trust preferred securities (the “Crosby Securities”) on December 17, 2018 (the “Crosby Redemption Date”). The aggregate redemption price (the “Crosby Redemption Price”) is $5,155,000 plus accrued and unpaid interest to the Crosby Redemption Date, totaling approximately $5.2 million.

The redemption of the Crosby Securities is a result of the concurrent redemption that will be made by the Company, as the successor in interest to Crosby Bancshares, Inc., of its Junior Subordinated Debt Securities due December 15, 2035, all of which are held by the Crosby Trust. Notice of the redemption and payment of the aggregate Crosby Redemption Price will be made to registered holders of the Crosby Securities on the Crosby Trust’s behalf by U.S. Bank National Association (the “Crosby Trustee”). The Crosby Securities are to be surrendered for payment of the Crosby Redemption Price to U.S. Bank National Association, 100 Wall Street, 19th Floor, New York, New York 10005, Attention: Corporate Trust Services - Crosby Statutory Trust I. Questions regarding the redemption of the Crosby Securities may be directed to the Crosby Trustee by calling (617) 603-6431.

The Company today also announced that County Bancshares Trust I (the “County Trust”) will redeem all of the County Trust’s issued and outstanding trust preferred securities (the “County Securities,” and together with the Crosby Securities, the “Capital Securities”) on January 7, 2019 (the “County Redemption Date”). The aggregate redemption price (the “County Redemption Price”) is $5,671,000 plus accrued and unpaid interest to the County Redemption Date, totaling approximately $5.7 million.

The redemption of the County Securities is a result of the concurrent redemption that will be made by the Company, as the successor in interest to County Bancshares, Inc., of its Junior Subordinated Debt Securities due April 7, 2035, all of which are held by the County Trust. Notice of the redemption and payment of the aggregate County Redemption Price will be made to registered holders of the County Securities on the County Trust’s behalf by Wells Fargo, National Association (the “County Trustee”). The County Securities are to be surrendered for payment of the County Redemption Price to Wells Fargo, National Association, 919 Market Street, Suite 700, Wilmington, DE 19801 Attention: Corporate Trust Division. Questions regarding the redemption of the County Securities may be directed to the County Trustee by calling (302) 575-2007.

About CBTX, Inc.

CBTX, Inc. is the bank holding company for CommunityBank of Texas, N.A., a commercial bank offering solutions to small and mid-sized businesses and professionals in Houston, Beaumont, Dallas and surrounding communities in Texas. Visit www.communitybankoftx.com for more information.

Forward-Looking Statements

This press release includes forward-looking statements within the meaning of the “Safe-Harbor” provisions of the Private Securities Litigation Reform Act of 1995, which include, but are not limited to, statements containing the words “will”, “may”, “intend”, or “believe” and statements concerning the timing and the redemption of the Capital Securities. These statements are necessarily subject to risk and uncertainty, including the risk that negative performance of our business may impact the timing and the redemption of the Capital Securities, and actual results could differ materially from those anticipated due to various factors, including those set forth from time to time in the documents filed or furnished by the Company with the Securities and Exchange Commission, such as the risk factors discussed in the Company’s Annual Report on Form 10-K. You should not place undue reliance on forward-looking statements and the Company undertakes no obligation to update any such statements to reflect circumstances or events that occur after the date on which the forward- looking statement is made.

CONTACT: Investor Relations: James L. Sturgeon 281.325.5013 investors@CBoTX.com Media Contact: Ashley Warren 713.210.7622 awarren@CBoTX.com
Categories: State

First Midwest Bancorp to Acquire Northern Oak Wealth Management

8 November 2018 - 5:50pm

Milwaukee-Based Investment Adviser Further Enhances
First Midwest’s Wealth Management Business

CHICAGO, Nov. 08, 2018 (GLOBE NEWSWIRE) -- First Midwest Bancorp, Inc. (“First Midwest”) (NASDAQ NGS: FMBI) today announced that it has entered into a definitive agreement to acquire Northern Oak Wealth Management, Inc. (“Northern Oak”), a Milwaukee-based registered investment adviser with approximately $800 million of wealth assets under management.

This acquisition further strengthens First Midwest’s position as one of the Midwest’s largest independent wealth management providers, with more than $11 billion in assets under management and clients across 30 states.

“Northern Oak is a highly respected investment adviser that shares our commitment to the financial success of our clients and to delivering a highly personalized client experience,” said Bob Diedrich, executive vice president and director of wealth management at First Midwest. “We look forward to working closely with the Northern Oak team to meet the financial needs of their high net worth clients through a wider range of private banking and wealth management solutions.”

Northern Oak’s executive team of Mark Zellmer and David Becker, who have a combined 46 years of tenure at the firm, will continue to serve in leadership roles at Northern Oak, which will operate as a subsidiary of First Midwest.

“The financial markets are becoming increasingly complex, and clients are looking for an experienced and trusted adviser who can help them achieve their investment goals,” said Mark Zellmer, chairman of Northern Oak. “We are excited to join First Midwest and look forward to leveraging their broad range of wealth management and banking products and services to create enhanced value for our clients.”

The transaction is subject to customary regulatory approvals and closing conditions and is expected to close in the first quarter of 2019.

About First Midwest

First Midwest is a relationship-focused financial institution and one of the largest independent publicly-traded bank holding companies based on assets headquartered in Chicago and the Midwest, with over $15 billion in assets and an additional $11 billion in trust assets under management.  First Midwest’s principal subsidiary, First Midwest Bank, and other affiliates provide a full range of commercial, treasury management, equipment leasing, retail, wealth management, private banking and trust products and services through locations in metropolitan Chicago, northwest Indiana, central and western Illinois and eastern Iowa. First Midwest’s common stock is traded on the NASDAQ Stock Market under the symbol FMBI. First Midwest’s website is www.firstmidwest.com.

CONTACTS:

InvestorsMediaPatrick S. Barrett Maurissa KanterEVP, Chief Financial Officer   SVP, Director of Corporate Communications(708) 831-7231 (708) 831-7345pat.barrett@firstmidwest.com maurissa.kanter@firstmidwest.com 
Categories: State

CommunityBank of Texas, N.A. Announces New Loan and Deposit Production Office in Dallas, Texas

8 November 2018 - 4:07pm

HOUSTON, Nov. 08, 2018 (GLOBE NEWSWIRE) -- CommunityBank of Texas, N.A. today announced its expansion into Dallas, Texas with the opening of its new Dallas Loan and Deposit Production Office (LPO) located at 5956 Sherry Lane, Suite 1000, Dallas, Texas 75225. CommunityBank of Texas is primed to meet the growing demand of businesses as the new LPO further expands its network and Texas community presence.

“We are excited about our new Dallas Loan and Deposit Production Office,” said Robert R. Franklin, Jr., Chairman and CEO of CommunityBank of Texas. “The expansion into the North Texas market allows us to readily meet the needs of businesses in a rapidly growing region and we look forward to serving the Dallas community.”

CommunityBank of Texas is excited to announce their partnership with veteran Dallas banker, William “Bill” C. Murphy, to serve as its North Texas Regional Chairman. With over 46 years of Dallas business banking experience in executive roles, Mr. Murphy offers in-depth knowledge of the region’s unique economic climate and brings significant commercial banking expertise.

“We are privileged to have Bill as a member of our team,” said Franklin. “As a relationship bank, adding him to our team allows us to make an immediate impact on the development of our expansion strategy in addition to sustaining the long-term goals of the bank. Bill will be a huge asset as a leader within CommunityBank of Texas and in the communities we serve.”

CommunityBank of Texas will continue to look for additional growth opportunities in the Dallas market that fit within their development strategy along with new talent to add to the team.

About CommunityBank of Texas, N.A.
CommunityBank of Texas, N.A. is a commercial bank offering solutions to small and mid-sized businesses and professionals in Houston, Beaumont, Dallas and surrounding communities in Texas. CommunityBank of Texas, N.A. is the wholly-owned bank subsidiary of CBTX, Inc., a bank holding company traded on the Nasdaq Global Select Market under the symbol “CBTX.” Visit www.communitybankoftx.com for more information.

Forward-Looking Statements
This press release includes forward-looking statements within the meaning of the “Safe-Harbor” provisions of the Private Securities Litigation Reform Act of 1995. These statements are necessarily subject to risk and uncertainty and actual results could differ materially from those anticipated due to various factors, including those set forth from time
to time in the documents filed or furnished by CBTX, Inc. with the Securities and Exchange Commission. You should not place undue reliance on forward-looking statements and CBTX, Inc. and CommunityBank of Texas, N.A. undertakes no obligation to update any such statements to reflect circumstances or events that occur after the date on which the forward-looking statement is made.

Investor Relations:                              
James L. Sturgeon                                
281.325.5013                                      
investors@CBoTX.com                      

Media Contact:
Ashley K. Warren
713.210.7622
awarren@CBoTX.com 

Categories: State

Midland States Bancorp, Inc. Appoints Jennifer L. DiMotta to Board of Directors

8 November 2018 - 4:05pm

EFFINGHAM, Ill., Nov. 08, 2018 (GLOBE NEWSWIRE) --  Midland States Bancorp, Inc. (NASDAQ: MSBI) (the “Company” or “Midland”) announced today that Jennifer L. DiMotta has been appointed to the Board of Directors of the Company and Midland States Bank. With the addition of Mrs. DiMotta, the Company’s Board of Directors has increased to 11 members, with eight of the directors classified as independent.

“We are very pleased to add an executive of Jennifer’s caliber to our Board of Directors,” said John M. Schultz, Chairman of the Board of the Company. “We believe that Jennifer’s experience in leadership, business development and information technology will be a great asset to the Board. Jennifer’s entrepreneurial background will also be valuable as Midland continues to meet the evolving multi-channel banking needs of our customers.”

Mrs. DiMotta is the President of DiMotta Consulting LLC, a strategic eCommerce and digital marketing consulting firm, which she founded in 2017. Prior to launching her consulting business, Mrs. DiMotta served as Vice President Digital and Omnichannel of Bluemercury Inc., a cosmetics retailer, as Vice President eCommerce of Sports Authority, Inc., a sporting goods retailer, and as Senior Director of eCommerce of Office Depot. In each of these positions she was responsible for developing eCommerce and digital marketing efforts. Mrs. DiMotta holds a B.A. in Criminal Justice from the University of Nebraska, and a Master’s Degree in Leadership from Bellevue University.

About Midland States Bancorp, Inc.

Midland States Bancorp, Inc. is a community-based financial holding company headquartered in Effingham, Illinois, and is the sole shareholder of Midland States Bank. As of September 30, 2018, the Company had total assets of approximately $5.7 billion and its Wealth Management Group had assets under administration of approximately $3.2 billion. Midland provides a full range of commercial and consumer banking products and services, business equipment financing, merchant credit card services, trust and investment management, and insurance and financial planning services. In addition, multi-family and healthcare facility FHA financing is provided through Love Funding, Midland’s non-bank subsidiary. For additional information, visit www.midlandsb.com or follow Midland on LinkedIn at https://www.linkedin.com/company/midland-states-bank.

Special Note Concerning Forward-Looking Statements

Readers should note that in addition to the historical information contained herein, this press release includes "forward-looking statements," including but not limited to statements about the Company’s future performance. These statements are subject to many risks and uncertainties, including changes in interest rates and other general economic, business and political conditions, including changes in the financial markets; changes in business plans as circumstances warrant; and other risks detailed from time to time in filings made by the Company with the Securities and Exchange Commission. Readers should note that the forward-looking statements included in this press release are not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking statements. Forward- looking statements generally can be identified by the use of forward-looking terminology such as "will," "propose," "may," "plan," "seek," "expect," "intend," "estimate," "anticipate," "believe" or "continue," or similar terminology. Any forward-looking statements presented herein are made only as of the date of this press release, and we do not undertake any obligation to update or revise any forward-looking statements to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.

CONTACTS:
Douglas J. Tucker, Sr. V.P., Corporate Counsel, at dtucker@midlandsb.com or (217) 342-7321

Categories: State

Federal Home Loan Bank of Atlanta Awards over $25 Million for Affordable Housing Development

8 November 2018 - 11:24am

Funding will Create, Improve, or Preserve 4,239 Affordable Rental and Homeownership Units

ATLANTA, Nov. 08, 2018 (GLOBE NEWSWIRE) -- Federal Home Loan Bank of Atlanta (the Bank) announced today that it has awarded $25,592,918 million to assist in the funding of 62 affordable housing projects in 17 states as part of its 2018 Affordable Housing Program (AHP). The projects represent $856,920,540 in total housing development. For every $1 dollar in AHP funding, another $32 dollars of financing was leveraged under the FHLBank Atlanta 2018 AHP.

Local for-profit and nonprofit developers, in partnership with FHLBank Atlanta member financial institutions, will use $19.4 million of AHP funds to assist in the acquisition, new construction, rehabilitation, or preservation of 3,166 affordable rental and homeownership units in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, and Virginia. Developers with projects in states outside of the Bank’s district, including Colorado, Connecticut, Delaware, Illinois, Louisiana, Massachusetts, Mississippi, Pennsylvania, Tennessee, and Texas, will receive more than $6.1 million in AHP funding to develop 1,073 housing units. For the complete list of winners, click here.

“The Affordable Housing Program has had a long track record of success providing access to safe and affordable housing for low- and moderate-income families,” said Robert Dozier, FHLBank Atlanta Executive Vice President and Chief Business Officer. “It is an effective way for our member financial institutions to partner with developers and community groups to not only provide affordable housing, but to also help create job opportunities and boost economic development in the communities they serve every day.”

FHLBank Atlanta awards AHP funds annually through a competitive application process. Since 1990, FHLBank Atlanta has awarded more than $760 million in AHP Competitive grants, providing more than 120,000 housing opportunities for moderate, low-, and very low-income households. Applications for the 2019 AHP funding round will be accepted beginning June 2019. Potential applicants must work with an FHLBank Atlanta member financial institution to complete the AHP Competitive program application. A list of member financial institutions is available on the FHLBank Atlanta website at www.fhlbatl.com.

FHLBank Atlanta’s AHP awards range from $57,000 to $500,000 per project and will be made in the following states:

StateRental UnitsOwner UnitsAHP FundsTotal DevelopmentAlabama3077$2,065,450$64,267,531Florida24251$1,538,000$43,513,995Georgia524--$1,928,327$71,718,846Maryland329--$1,950,000$82,365,879North Carolina484--$3,390,000$70,812,248South Carolina90--$500,000$17,208,346Virginia1,11715$8,068,741$282,884,279Out of District1,073--$6,152,400$224,149,416

About the Federal Home Loan Bank of Atlanta
FHLBank Atlanta offers competitively-priced financing, community development grants, and other banking services to help member financial institutions make affordable home mortgages and provide economic development credit to neighborhoods and communities. The Bank's members—its shareholders and customers—-are commercial banks, credit unions, savings institutions, community development financial institutions, and insurance companies located in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia. FHLBank Atlanta is one of 11 district banks in the Federal Home Loan Bank System. Since 1990, the FHLBanks have awarded approximately $5.8 billion in Affordable Housing Program funds, assisting more than 865,000 households.

For more information, visit our website at www.fhlbatl.com.

CONTACT: Peter E. Garuccio
Federal Home Loan Bank of Atlanta
pgaruccio@fhlbatl.com
404.888.8143

Categories: State

Old National joins movement to educate consumers on fraud

8 November 2018 - 9:00am
  • International Fraud Awareness Week is Nov. 11 – 17
  • Old National offers experts and resources on fraud awareness

EVANSVILLE, Ind., Nov. 08, 2018 (GLOBE NEWSWIRE) --  Old National Bank is joining companies throughout the world to help educate and raise awareness about fraud during International Fraud Awareness Week (Nov. 11-17).  Fraud costs organizations worldwide an estimated 5 percent of their annual revenues, according to a study conducted by the Association of Certified Fraud Examiners (ACFE).

Old National Bank joins hundreds of organizations who have partnered with the ACFE, the world's largest anti-fraud organization and premier provider of anti-fraud training and education, for the yearly Fraud Week campaign.

Old National is pleased to provide its fraud subject matter experts for interview opportunities about fraud awareness and how to protect yourself.  These experts include:

  • Eric Williams, Security Director, Old National Bank and former Vanderburgh County Sheriff
  • Candice Rickard, Chief Risk Officer, Old National Bank
  • Ben Joergens, Financial Empowerment Officer, Old National Bank

Please contact Kathy Schoettlin at 812-465-7269 to schedule an interview.

In addition, Old National has the following short videos on fraud awareness available on its YouTube channel:

Visit https://www.oldnational.com/security for more information and resources on fraud awareness.

“Fraud results in billions of dollars lost every year and reducing that loss and the number of victims is a priority for Old National.  That’s why we partner with law enforcement and other agencies to help educate and protect our clients and communities from this increasing crime,” said Candice Rickard, Old National Bank Chief Risk Officer.

ACFE CEO and President Bruce Dorris, J.D., CFE, CPA, said that the support of organizations around the world helps make Fraud Week an effective tool in raising anti-fraud awareness.

“The latest statistics tell us that fraud isn’t going away, and companies that don’t have protective measures in place stand to lose the most,” Dorris said. “That’s why it is reassuring to me to see so many businesses, agencies, universities and other organizations involved in the Fraud Week movement. The first step in combating fraud is raising awareness worldwide that it is a serious problem that requires a proactive approach toward preventing it.”

“Since our first Fraud Week almost 20 years ago, the movement continues to grow,” Dorris said. “I heartily thank all of the supporters of Fraud Week for making it what it is today.”

For more information about increasing awareness and reducing the risk of fraud during International Fraud Awareness Week, visit FraudWeek.com.

About Old National
Old National Bancorp (NASDAQ: ONB) is the holding company of Old National Bank. Headquartered in Evansville with $17.5 billion in assets, it is a top 100 U.S. bank, the largest Indiana-based bank and has been recognized as a World’s Most Ethical Company by the Ethisphere Institute for seven consecutive years. For nearly 185 years, Old National has been a community bank committed to building long-term, highly valued relationships with clients. With locations in Indiana, Kentucky, Michigan, Minnesota and Wisconsin, Old National provides retail and commercial banking services along with comprehensive wealth management, investment and capital markets services. For information and financial data, please visit Investor Relations at oldnational.com.

About the Association of Certified Fraud Examiners
Based in Austin, Texas, the ACFE is the world's largest anti-fraud organization and premier provider of anti-fraud training and education. Together with nearly 85,000 members, the ACFE is reducing business fraud worldwide and inspiring public confidence in the integrity and objectivity within the profession. For more information, visit ACFE.com.

Old National Contact:
Media Relations
Kathy A. Schoettlin (812) 465-7269

Categories: State

Ottawa Bancorp, Inc. approves Stock Repurchase Program

7 November 2018 - 5:56pm

FOR IMMEDIATE RELEASE

Ottawa, Illinois, Nov. 07, 2018 (GLOBE NEWSWIRE) -- Ottawa Bancorp, Inc. (NasdaqCM: OTTW) (the “Company”), the holding company for Ottawa Savings Bank, FSB (the “Bank”), announced today that it has approved a stock repurchase program authorizing the purchase of 337,440 shares, representing 10% of the Company’s outstanding shares of common stock.  As of September 30, 2018, the Company had repurchased a total of 100,235 shares of its common stock at an average price of $14.08 per share as part of its previously approved stock repurchase program, which will expire on November 15, 2018.  Repurchases will be conducted through open market purchases, which may include purchases under a trading plan adopted pursuant to Securities and Exchange Commission Rule 10b5-1, or through privately negotiated transactions.  Repurchases will be made from time to time depending on market conditions and other factors. 

Ottawa Bancorp, Inc. is the holding company for Ottawa Savings Bank, FSB which provides various financial services to individual and corporate customers in the United States. The Bank offers various deposit accounts, including checking, money market, regular savings, club savings, certificate, and various retirement accounts. Its loan portfolio includes one-to-four family residential mortgage, multi-family and non-residential real estate, commercial, and construction loans as well as auto loans and home equity lines of credit. Ottawa Savings Bank, FSB was founded in 1871 and is headquartered in Ottawa, Illinois. For more information about the Company and the Bank, please visit www.ottawasavings.com.

The foregoing material may contain forward-looking statements concerning the financial condition, results of operations and business of the Company.  We caution that such statements are subject to a number of uncertainties and actual results could differ materially and, therefore, readers should not place undue reliance on any forward-looking statements.  The Company does not undertake, and specifically disclaims, any obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.

CONTACT: Contact: Jon Kranov President and Chief Executive Officer (815) 366-5436
Categories: State

Hawthorn Bancshares Announces Cash Dividend

7 November 2018 - 3:50pm

JEFFERSON CITY, Mo., Nov. 07, 2018 (GLOBE NEWSWIRE) -- Hawthorn Bancshares of Jefferson City, MO (NASDAQ: HWBK) announced today that its Board of Directors approved a quarterly cash dividend of $0.10 per share, payable January 1, 2019 to shareholders of record at the close of business on December 15, 2018. The current cash dividend rate is consistent with the prior quarter.

About Hawthorn Bancshares

Hawthorn Bancshares, Inc., a financial-bank holding company headquartered in Jefferson City, Missouri, is the parent company of Hawthorn Bank of Jefferson City, Missouri with locations in the Missouri communities of Lee's Summit, Liberty, Springfield, Branson, Independence, Columbia, Clinton, Osceola, Warsaw, Belton, Drexel, Harrisonville, California and St. Robert, Missouri.

Statements made in this press release that suggest Hawthorn Bancshares' or management's intentions, hopes, beliefs, expectations, or predictions of the future include "forward-looking statements" within the meaning of Section 21E of the Securities and Exchange Act of 1934, as amended.  It is important to note that actual results could differ materially from those projected in such forward-looking statements.  Additional information concerning factors that could cause actual results to differ materially from those projected in such forward-looking statements is contained from time to time in the company's quarterly and annual reports filed with the Securities and Exchange Commission.

Contact:       Bruce Phelps
                   Chief Financial Officer
                   TEL: 573.761.6100   FAX: 573.761.6272
                   www.HawthornBancshares.com

Categories: State

Live Oak Bank Named USDA Lender of the Year

7 November 2018 - 11:00am

WILMINGTON, N.C., Nov. 07, 2018 (GLOBE NEWSWIRE) -- Live Oak Bank has been named the 2018 Lender of the Year by the U.S. Department of Agriculture’s Rural Business and Cooperative Service.  

Live Oak was presented the award Oct. 24 for being the highest volume lender nationwide for USDA’s Rural Business-Cooperative loan guarantee programs encompassing the Rural Energy for American Program (REAP) and the Business & Industry (B&I) loan program.

The award was presented by USDA Rural Business-Cooperative Service Administrator Bette Brand at the National Rural Lender’s Association Conference in Washington, D.C.

“Live Oak Bank is proud to serve American small business owners who are vital to our country’s economy,” said Jordan Blanchard, general manager of Live Oak’s energy and environmental lending team. “The REAP and B&I programs are important means for getting capital into the hands of companies that are increasing our country’s energy independence while bolstering job opportunities in rural America.”

To learn more about Live Oak’s energy and environmental lending services, visit www.liveoakbank.com/renewable.

About Live Oak Bank
Live Oak Bank, a subsidiary of Live Oak Bancshares, Inc. (Nasdaq: LOB), is a digitally focused, FDIC-insured bank serving customers across the country. Live Oak brings efficiency and excellence to the banking process, without branches, by using a focused approach to technology and innovation. To learn more, visit www.liveoakbank.com.

Contact:
Claire Parker, Senior Public Relations Manager
910.597.1592
claire.parker@liveoak.bank

Categories: State

Mountain America Credit Union Awards PTA Grants to Support Classroom Education

6 November 2018 - 7:10pm

SANDY, Utah, Nov. 06, 2018 (GLOBE NEWSWIRE) -- Mountain America Credit Union is proud to announce it has awarded ten grants to teachers and PTA leaders of K-12 classrooms in Utah and Idaho. Up to $1,500 was awarded to each grant winner. To be eligible for the Mountain America Credit Union PTA Grants, recipients had to be members of both Mountain America and their local PTA.

The funds will be used for a wide variety of classroom purposes, including a school-wide art program, robotic kits, science lab, musical instruments, reading programs, and flexible seating equipment. This year’s recipients are Sara Alzheimer, Maple Grove Elementary; Jessica Payne, Windridge Elementary; Emily Tanner, Crestview Elementary; Tiffany Lemos, Chubbuck Elementary; Joel Bennett, Spring Lake Elementary; Andrea Griggs, McMillan Elementary; Keri Reynolds, Whitesides Elementary; Amy Wittwer, South Elementary; Kori Hales, Moroni Elementary; Katie Rogers, Thunder Ridge Elementary.

“Mountain America is honored to enhance classroom education by providing additional funding for learning-based equipment and projects,” says Spencer Carver, assistant vice president of SEG development at Mountain America Credit Union. “Education provides the foundation to help individuals reach their potential and ensures a strong community.”

Mountain America will again be accepting applications in Spring 2019. Further details can be found at https://www.macu.com/pta.

About Mountain America Credit Union
With more than 780,000 members and $8 billion in assets, Mountain America Credit Union assists members on the right path to help them identify and achieve their financial dreams. Mountain America provides consumers and businesses with a variety of convenient, flexible products and services, as well as sound, timely advice. Members enjoy access to secure, cutting-edge mobile banking technology, over 90 branches across five states, thousands of shared-branching locations nationwide and more than 50,000 surcharge-free ATMs. Mountain America—safely guiding you forward along your financial journey. Learn more at macu.com.

CONTACT: Media Contact: Tony Rasmussen 801-325-6430 trasmussen@macu.com

Categories: State

Logix Federal Credit Union Board Names Ana Fonseca as New President and CEO

6 November 2018 - 12:12pm

BURBANK, Calif., Nov. 06, 2018 (GLOBE NEWSWIRE) -- Logix Federal Credit Union announced today that its Board of Directors has chosen Ana Fonseca as the Credit Union’s next President and CEO. Fonseca, who currently serves as LFCU’s Executive Vice President and Chief Operating Officer, will succeed Dave Styler, the company’s current President and CEO, on December 31, 2018.

“Ana is abundantly qualified for the Logix CEO position,” Styler said. “With more than 30 years of financial services experience, including her current role as COO, and a long tenure as our CFO, Ana has worked closely with every part of our company,” he added. “With Ana at the helm, coupled with a strong leadership team, and a terrific staff, I am very confident that Logix will continue to be an industry leader in financial and operational performance, as well as service reputation.”

Fonseca holds a bachelor’s degree from University of Phoenix, a master’s degree in Business Administration from Pepperdine University, and she completed the Executive Leadership Program at Stanford University. Her leadership experience ranges from Accounting, Finance, Facilities, Security, Fraud Risk Management, Lending, Sales, and Branch Operations, and she is an active participant in development and execution of the Logix strategy. 

“I started my career with Lockheed in 1986 and the journey has been incredibly rewarding. I look forward to this leadership role and continuing to champion our culture and core values,” Fonseca said. “After working at Logix for more than 26 years, my goal is to maintain our culture of service and success, providing our members with the best possible combination of financial value, service experience, and convenient access through technology.”

About Logix
Chartered in 1937, Logix Federal Credit Union offers a full menu of financial services, and surcharge-free access to 35,000 ATMs nationwide. Logix Federal Credit Union is rated “superior” for financial strength, and is the largest credit union headquartered in Los Angeles County, with more than 190,000 members and nearly $6 billion in assets. Logix operates 15 branches in Los Angeles and Ventura counties.

This year, Logix Federal Credit Union was named the best credit union in California by Forbes and the best credit union by readers of the Santa Clarita Valley’s “The Signal” for 13 consecutive years. In 2015, the credit union was named one of Los Angeles Business Journal’s best places to work. Savings are federally insured by the National Credit Union Administration, a U.S. Government Agency. Logix is an equal housing lender. For more information, visit www.lfcu.com.

CONTACT: Media Contact: Alethia Calagias 818.565.2520 acalagias@lfcu.com

Categories: State

Pacific Mercantile Bank Provides Financing for Expansion of MonkeySports Capital

6 November 2018 - 8:00am

COSTA MESA, Calif., Nov. 06, 2018 (GLOBE NEWSWIRE) -- Pacific Mercantile Bank (“the Bank”), the wholly owned subsidiary of Pacific Mercantile Bancorp (NASDAQ:PMBC), today announced that it has provided a $7.8 million owner-occupied commercial real estate loan to finance the expansion of MonkeySports Capital, a sporting goods retailer.  In addition to the financing, MonkeySports utilizes Pacific Mercantile Bank’s depository products and treasury management services. 

MonkeySports is a leading retailer of ice hockey, lacrosse, baseball and softball equipment.  MonkeySports operates 11 retail stores in California, Texas, New Jersey, Massachusetts, Colorado, New Hampshire, Sweden and Canada.  The company also runs six online stores, including its flagship site www.hockeymonkey.com, the largest e-commerce hockey site as measured by traffic, product offering and sales.  Founded in 1999, the company has leveraged its reputation as a premier provider of hockey equipment to steadily expand into additional sports.

“We are seeing attractive opportunities to expand the MonkeySports brand both nationally and internationally,” said John Naaman, CEO of MonkeySports.  “The financing provided by Pacific Mercantile Bank will enable us to expand our warehouse and increase our presence in the Northeastern United States and Canada, two of the largest markets for hockey and lacrosse equipment sales.  We spoke with a number of banks and Pacific Mercantile demonstrated the strongest understanding of our cash flow cycle, and provided us with flexible and timely solutions.  They made the process of obtaining financing very simple so that we could devote more of our attention to operating the business and moving ahead with our growth strategies.”

“MonkeySports has grown from one small hockey equipment store in 1999 to a burgeoning international omni-channel franchise,” said Jim Roby, Senior Vice President at Pacific Mercantile Bank.  “We are excited to work with the company and support the continued growth of the MonkeySports brand.”

For more information about Pacific Mercantile Bank and its commitment to helping companies succeed, visit www.pmbank.com.

About Pacific Mercantile Bank

Pacific Mercantile Bancorp (NASDAQ:PMBC) is the parent holding company of Pacific Mercantile Bank, which opened for business March 1, 1999. The Bank, which is an FDIC insured, California state-chartered bank and a member of the Federal Reserve System, provides a wide range of commercial banking services to businesses, business professionals and individual clients. The Bank is headquartered in Orange County and has seven locations in Southern California, located in Orange, Los Angeles, San Diego, and San Bernardino counties. The Bank offers tailored flexible solutions for its clients including an array of loan and deposit products, sophisticated treasury management services, and comprehensive online banking services accessible at www.pmbank.com.

Forward-Looking Information

This news release contains statements regarding our expectations, beliefs and views about our plans to continue to build our loan portfolio and supporting systems and processes.  These statements, which constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995, can be identified by the fact that they do not relate strictly to historical or current facts. Often, they include words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," "project," or words of similar meaning, or future or conditional verbs such as "will," "would," "should," "could," or "may." These forward-looking statements are subject to numerous risks and uncertainties. Actual results may differ materially from the results discussed in these forward-looking statements because such statements are inherently subject to significant assumptions, risks and uncertainties, many of which are difficult to predict and are generally beyond our control. These risks and uncertainties include, but are not limited to, the following: the impact of interest rates and other external economic factors and competition among financial services providers. We undertake no obligation (and expressly disclaim any such obligation) to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. For additional information concerning factors that could cause actual conditions, events or results to materially differ from those described in the forward-looking statements, please refer to the factors set forth under the headings "Risk Factors" in our most recent Form 10-K and 10-Q reports and to our most recent Form 8-K reports, which are available online at www.sec.gov. No assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what impact they will have on our results of operations or financial condition.

Pacific Mercantile Bank Contact:
Robert Anderson
EVP & Chief Banking Officer
714-438-2500

Categories: State

Seacoast Commerce Bank Announces the Hiring of Eric LaPrad SVP and SBA Business Development Officer, Columbus, OH

5 November 2018 - 9:00am

SAN DIEGO, Nov. 05, 2018 (GLOBE NEWSWIRE) -- Seacoast Commerce Bank, a wholly-owned subsidiary of Seacoast Commerce Banc Holdings (OTC Pink: SCBH) today announced the hiring of Eric LaPrad as Senior Vice President and Small Business Administration (“SBA”) Business Development Officer. Mr. LaPrad will be located in Columbus, Ohio.  He brings proven success in SBA production, specifically in the dental and medical industries, to Seacoast's already "best in class" SBA Division and will be helping medical professionals facilitate the acquisition, development, and refinance of their commercial real estate properties.  

Mr. LaPrad has over 14+ years of banking experience with regional and national lenders and establishing his own consulting firm serving dentists.  He began his career in banking in 2004 with MBNA Practice Solutions after attending Ohio State University.  Mr. LaPrad went on to work for Bank of America for 12 years, serving in several roles after the bank bought MBNA.  Over the years, he has managed BofA’s Practice Finance Commercial Real Estate department, created and managed their Practice Banking/Client Manager department, and served as a Regional Sales Manager (RSM) responsible for managing a multi state region in the Midwest/Mid Atlantic.  During his time as an RSM, he set up over 500 dental offices and grew the Mid South territory to one of the top performing regions in the group. 

After leaving BofA, Mr. LaPrad started his own financial consulting firm providing dentists with tailored financial solutions for commercial real estate; purchase, refinance & construction; 1st time practice owner financing; practice sale and acquisitions; equipment loans; and working capital.  He positioned his firm for success, establishing a nationwide network of referral sources solely dedicated to the dental industry, signing over 56 formal referral agreements with national and regional SBA lenders and culminating in a sale of his firm earlier this year.

“Eric is an outstanding addition to our SBA Team.  We are very excited to have his deep and varied experience as we look to expand our business in the dental and medical industries and are confident that his skills, expertise and consultative approach to helping our medical professional clients pursue their dreams of growing their practices and owning their facilities will resonate positively with our clients,” stated Don Mercer, Executive Vice President, SBA National Sales Manager.  Eric can be reached by email at elaprad@sccombank.com or at (484) 506-1490.

About Seacoast Commerce Banc Holdings: Seacoast Commerce Banc Holdings is a bank holding company with one wholly-owned banking subsidiary, Seacoast Commerce Bank, which also operates as Capital Bank, a division of Seacoast Commerce Bank.  Both the holding company and the bank are headquartered in San Diego, California, with the Bank having four full-service banking branches in San Diego and Orange County, California, and loan and deposit production offices throughout Arizona, California, Colorado, Georgia, Illinois, Ohio, Oregon, Massachusetts, Minnesota, Missouri, Nevada, Texas, Utah and Washington. 

For more information on Seacoast Commerce Banc Holdings, please visit www.scbholdings.com; to learn more about Seacoast Commerce Bank, visit www.sccombank.com, or contact Richard M. Sanborn, President and Chief Executive Officer at (858) 432-7001.

For more information on Seacoast Commerce Bank’s SBA lending platform, please contact David H. Bartram, Senior Executive Vice President, Chief Operating Officer, and SBA Division Manager at (858) 432-7002. 

Certain statements in this press release, including statements regarding the anticipated development and expansion of the Bank’s business, and the intent, belief or current expectations of the Bank, its directors or its officers, are “forward-looking” statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such “forward-looking” statements. These risks and uncertainties include, but are not limited to, risks related to the local and national economy, the Bank’s performance and regulatory matters.

Categories: State

First Horizon Announces Leadership Appointments to Advance Strategic Objectives

1 November 2018 - 5:41pm

Realigns Leadership Structure in Consumer and Wholesale Banking to Drive Enhanced Customer Experience and Operational Excellence

MEMPHIS, Tenn., Nov. 01, 2018 (GLOBE NEWSWIRE) -- First Horizon National Corporation (NYSE:FHN) today announced executive leadership appointments and a realignment of its consumer and wholesale banking segments to advance its long-term strategic objectives. The realignment is effective immediately and includes the following appointments:

Todd Jones, previously managing director and group head of franchise finance, has been appointed as executive vice president of wholesale banking and will report directly to David Popwell, president of banking for First Horizon. In this newly created role, Jones will be responsible for serving commercial and business banking customers with oversight of treasury management, commercial real estate, corporate finance, syndications and the specialty lending areas. Additionally, Jones will also serve as a member of First Horizon’s executive management committee.

Tammy LoCascio, executive vice president of consumer banking, will expand her role to include leadership responsibility for mortgage and consumer loan delivery, consumer products and business analytics. Prior to this announcement, LoCascio led retail, private client, wealth management, small business, mortgage and consumer loan delivery, call centers, consumer products and business analytics. Her expanded responsibilities are in addition to these areas of consumer banking. LoCascio will continue to report directly to David Popwell and serve as a member of the executive management committee.

“As we continue to successfully execute on our strategic priorities and drive growth, First Horizon is committed to ensuring our leadership and structure advances our objectives,” said David Popwell, president of banking for First Horizon. “These appointments and realignment streamline decision-making and position the bank to continue delivering operational excellence while enhancing the customer experience. Tammy and Todd bring incredible leadership, as well as enterprise expertise to the roles, having successfully guided the growth of our retail banking and franchise finance businesses. We are confident they will continue our momentum in consumer and wholesale banking and their new roles reflect the advancements we are driving across our organization.”

About Todd Jones

Jones brings more than 22 years of experience in the financial services industry. He joined First Horizon in 2016 to lead a newly created franchise finance vertical following the acquisition of a restaurant loan portfolio from a leading sector lender. Under his leadership, the franchise finance team has been established as one of the premier firms in their sector, growing customers and commitments. He has been frequently featured as a keynote speaker at various restaurant industry and individual brand events.

Before joining First Horizon, Jones spent 16 years in various capacities at GE Capital. His experience includes roles of increasing responsibility in capital markets, sales, and marketing. He earned a bachelor’s degree in business with a major in accounting from the Carlson School of Management at the University of Minnesota. Jones is active in the community with Junior Achievement of Arizona and serves on the Board of Governors for the Boys & Girls Clubs of Greater Scottsdale.

About Tammy LoCascio

LoCascio has served as executive vice president of consumer banking of First Horizon, delivered a strategy that transformed the consumer organization and doubled profitability twice in the last six years. Previously, LoCascio led First Horizon’s retail line of business working with the markets across the company to provide strategic direction as well as sales and operational support.

Prior to joining First Horizon, she held several retail banking executive leadership roles including mid-south region chief administrative officer at Regions Bank, director of retail banking at Union Planters Bank and training director and retail executive at National City Bank. LoCascio earned a bachelor’s degree in marketing and business administration from the University of Florida. She was honored as one of Memphis’ most influential women in business by the Memphis Business Journal, receiving the 2018 Super Women in Business Award.

About First Horizon
First Horizon National Corp. (NYSE:FHN) provides financial services through its First Tennessee, Capital Bank, FTB Advisors, and FTN Financial businesses. First Horizon operates approximately 300 bank locations across the southern U.S. and 28 FTN Financial offices across the entire U.S.  Our banking subsidiary was founded in 1864 and has the 14th oldest national bank charter in the country. Our First Tennessee and Capital Bank brands have the largest deposit market share in Tennessee and one of the highest customer retention rates of any bank in the country. We have been ranked by American Banker as No. 5 among the Top 10 Most Reputable U.S. Banks. Our FTB Advisors wealth management group has more than 300 financial professionals and provides services to about $4.8 billion in assets under management.  FTN Financial is a capital markets industry leader in fixed income sales, trading and strategies for institutional customers in the U.S. and abroad. We have been recognized as one of the nation’s best employers by Working Mother and American Banker magazines and the National Association for Female Executives. More information is available at www.FirstHorizon.com.

FHN-G
CONTACT:
First Horizon Media Relations, Silvia Alvarez, (901) 523-4465
First Horizon Investor Relations, Aarti Bowman, (901) 523-4017

Categories: State

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

1 November 2018 - 3:34pm

SEATTLE, Nov. 01, 2018 (GLOBE NEWSWIRE) -- Laurie Stewart, President and CEO of Sound Community Bank, advanced from Vice Chair to Chair Elect on the American Bankers Association (ABA) slate of officers.  The formal recognition took place at the ABA Annual Convention in New York City mid-October.  This is the second year of a three year term.  In 2019, the position advances from Chairman-Elect to Chairman.

“I am honored to help lead the ABA Board of Directors,” said Stewart.  “The evolution of the banking industry signals the importance of collaboration, good public policy, and ensuring a positive impact.  I plan to advocate for the industry with these ideals in mind.”

“We’re grateful that the nominating committee delivered such a terrific slate of officers for the coming year,” said ABA President and CEO Rob Nichols. “These passionate industry leaders dedicate a tremendous amount of their time to represent America’s banks before Congress, regulatory agencies and across the globe.  We appreciate their expertise, leadership and dedication to our industry.”

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, safeguarding more than $13 trillion in deposits and extending more than $9 trillion in loans.  The association provides educational benefits and programs for its members, represents the industry in Washington DC, and speaks on behalf of the industry in the press.

Stewart celebrates 29 years with Sound Community Bank in December.  In these years, Stewart led the conversion of the organization from a $38 million dollar credit union to a $715 million publicly 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, 2017 and once again in 2018, she served as Chair of the Board of Directors of the Washington Bankers Association (WBA) and is incoming Chair of the Board of Directors for the National Arthritis Foundation.  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 eighth 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).

For additional information:

Media Contact:
Brady Robb, Vice President, Marketing Director
(206) 448-0884 x202

Categories: State

Washington Trust Provides $2.5 Million for Refinancing of Retail Property in Barkhamsted, CT

1 November 2018 - 1:05pm

BARKHAMSTED, Conn., Nov. 01, 2018 (GLOBE NEWSWIRE) -- Washington Trust’s Commercial Real Estate Group recently provided $2.5 million to Sound Garrett Barkhamsted, LLC, for the refinancing of a 16,559 square foot retail property in Barkhamsted, Connecticut.

Located at 390 New Hartford Road in Barkhamsted, the property includes two stand-alone retail tenants, Dollar General and O’Reilly Auto Parts. Dollar General was founded in 1939 and operates more than 13,600 stores in 44 states. O’Reilly Auto Parts was founded in 1957 by the O’Reilly family and currently operates more than 4,800 stores across 47 states.

“This well located center in Barkhamsted includes two niche retailers who serve the local population very well,” said Julia Anne M. Slom, Senior Vice President & Team Leader of Washington Trust’s Commercial Real Estate Group. “Our client has a real talent for locating and building this type of property and we are pleased to partner with them again.” 

Sound Garrett Barkhamsted, LLC, is a single owner limited liability company.

Washington Trust's Commercial Real Estate Group provides commercial real estate mortgages for the construction, refinancing, or purchasing of investment real estate projects. Financing ranges in size from several hundred thousand dollars up to multi-million dollar projects. For more information, contact Mary Ettinger, Vice President, Commercial Real Estate Group, at 401-348-1415 or 1-800-475-2265 ext. 1415.

ABOUT WASHINGTON TRUST®
Founded in 1800, Washington Trust is the oldest community bank in the nation and one of the Northeast’s premier financial services companies. Washington Trust offers a full range of financial services, including commercial banking, mortgage banking, personal banking and wealth management and trust services through its offices located in Rhode Island, Connecticut and Massachusetts. The Washington Trust Company is a subsidiary of Washington Trust Bancorp, Inc., (NASDAQ: WASH). Additional information on Washington Trust and its subsidiaries can be found at https://www.washtrust.com/.

  MEDIA CONTACT:Tony Nunes Public Relations  401.348.1657 ajnunes@washtrust.com 
Categories: State

First Citizens Bank Completes Merger With Palmetto Heritage Bancshares Inc., Palmetto Heritage Bank

1 November 2018 - 8:35am

RALEIGH, N.C., Nov. 01, 2018 (GLOBE NEWSWIRE) -- First-Citizens Bank & Trust Company (First Citizens Bank) announced that the merger of Palmetto Heritage Bancshares, Inc. (Palmetto Heritage) and its subsidiary, Palmetto Heritage Bank & Trust (Palmetto Heritage Bank), into First Citizens Bank is effective today (Nov. 1).

The three Palmetto Heritage Bank branch offices will initially operate as Palmetto Heritage Bank, a division of First Citizens Bank. Customers should bank as they normally do at their existing branches. Palmetto Heritage Bank customer accounts will be converted to First Citizens Bank’s systems and new First Citizens signage will be installed at a later date.

Frank B. Holding Jr., chairman and CEO of First Citizens Bank, said: “First Citizens and Palmetto Heritage are an excellent fit for one another and will be even better together as we strengthen our presence in coastal South Carolina. We look forward to serving Palmetto Heritage customers and leveraging our stability and robust product base so that, together, we can build on an already solid foundation.”

On Oct. 29, the shareholders of Pawleys Island, S.C.-based Palmetto Heritage voted to approve the merger agreement with Raleigh, N.C.-headquartered First Citizens Bank. The merger was previously  approved by the Federal Deposit Insurance Corp., the North Carolina Commissioner of Banks and the South Carolina Board of Financial Institutions.

Palmetto Heritage Bank customers should continue to use their current checks and cards. They will continue to have the same online and mobile access to their accounts. Customers with questions about their accounts can contact a representative at any of the Palmetto Heritage Bank division branches. For questions about First Citizens Bank, they can call the First Citizens Customer Care Center, 1.888.323.4732, between 7 a.m. and 11 p.m. Eastern time daily.

The completed merger will complement First Citizens’ operations in coastal South Carolina. In addition to the three Palmetto Heritage Bank division locations in Pawleys Island, Mount Pleasant and Murrells Inlet, First Citizens operates 18 branches in Georgetown, Horry and Charleston counties and 135 branches throughout South Carolina.

Founded in 1898 and headquartered in Raleigh, N.C., First Citizens Bank serves customers at more than 500 branches in 19 states. First Citizens Bank is a wholly owned subsidiary of First Citizens BancShares, Inc. (Nasdaq: FCNCA), which has $35 billion in assets.  For more information, call toll free 1.888.FC DIRECT (1.888.323.4732) or visit www.firstcitizens.com. First Citizens Bank. Forever First®.

Contact: Barbara Thompson
First Citizens Bank
919.716.2716

Categories: State

Hanmi Financial Corp. Announces Participation at Upcoming November Investor Conferences

1 November 2018 - 8:00am

LOS ANGELES, Nov. 01, 2018 (GLOBE NEWSWIRE) -- Hanmi Financial Corporation (Nasdaq: HAFC) (“Hanmi”), the holding company for Hanmi Bank (the “Bank”), today announced that they will participate in the following upcoming investor conferences:

  • Piper Jaffray’s Western Bank Symposium, to be held November 8, 2018 at the Resort at Pelican Hill in Newport Coast, California. The Company will be participating in one-on-one meetings with investors.
     
  • KBW’s West Coast Field Trip, to be held November 14, 2018 at the Langham Hotel in Pasadena, California. The Company will be participating on a panel and in meetings with investors.

Conference participation is by invitation only and registration is mandatory. For more information on the conference or to schedule a one-on-one meeting, please contact a Piper Jaffray or KBW representative.

About Hanmi Financial Corporation

Headquartered in Los Angeles, California, Hanmi Financial Corporation owns Hanmi Bank, which serves multi-ethnic communities through its network of 40 full-service branches and 9 loan production offices in California, Texas, Illinois, Virginia, New Jersey, New York, Colorado, Washington and Georgia. Hanmi Bank specializes in real estate, commercial, SBA and trade finance lending to small and middle market businesses. Additional information is available at www.hanmi.com.

Contact:

Richard Pimentel
Senior Vice President & Corporate Finance Officer
213-427-3191

Lasse Glassen
Addo Investor Relations
310-829-5400

Categories: State

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