United Community Financial (UCFC) in Youngstown, Ohio, is looking to raise $5 million through a rights offering.
The $1.8 billion-asset company said Monday that all holders of its common stock as will be given the right to buy 5.5% of a common share for each share they own as of March 21.
United Community will announce the final terms of the offering after a review by the Securities Exchange Commission, the company said. United Community's stock closed at $3.65 on Monday.
The company launched a
The Federal Reserve, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency issued a 30-page guidebook on managing affiliate risks. The report builds on formal guidance issued last year.
The efforts, which respond to President Biden's October executive order on AI, aim to improve synthetic content detection and improve the trustworthiness of AI models.
Tighter merchant connections between Square and Cash App helped Block produce stronger-than-expected results during the first quarter, while Jack Dorsey said the firm will launch its first remittance product later this year leveraging decentralized finance.
In talks with OCC officials, "it became obvious that we would not gain near-term approval given their recent experience with multifamily and CRE positions," FirstSun CEO Neal Arnold says. The companies announced other revisions to their deal, too.
The Federal Reserve has proposed that the two payments services run seven days a week, meaning they'd no longer close on weekends or holidays. The public has 60 days to comment.
Former Silicon Valley Bank exec Floyd Kessler joins Comerica as executive vice president and chief business control officer; Melissa Holding succeeds Michael Robinson as head of wealth management at Huntington; Goldman Sachs' Alexander Mayer is set to take on a senior position at JPMorgan Chase; and more in this week's banking news roundup.
