NEW YORK - An initial offering of 850,000 million common shares of Commercial Bankshares of Miami was priced at $11.50 each through underwriters led by Advest.
The parent of Commercial Bank of Florida had expected the shares to be offered at $11 to $13. Delivery is set for Oct. 14.
Commercial Bankshares said proceeds are expected to be used for acquisitions or investment, to redeem preferred stock, for dividends, and for working capital or general use.
Congressional Review Act resolutions are ramping up ahead of the 2024 election cycle. Experts say that, although none are likely to become law, the resolutions are still powerful messaging and political tools.
The ABA is testing an information-exchange network to allow banks to share their fraud data with each other. Companies including Baselayer are also building solutions.
Republicans on the House and Senate Small Business committees are accusing the SBA of being irresponsible in granting Funding Circle permission to participate in its flagship loan-guarantee program.
Strong consumer spending and cross-border activity drove an 8% increase in Visa's total payments volume during the first quarter of the year, although Asia's economic recovery is taking longer than expected.
Mastercard launches service to fight instant-payment fraud, EU may green-light Apple's NFC-access plan, and more.
The top five banks and thrifts had combined assets of more than $13 trillion as of December 31, 2023.
