ALBANY, Ga. - (05/26/06) The board of former creditunion Heritage Financial Group has approved a buy back of 220,328of the companys shares valued at $2.9 million which it plansto give to top management under its Equity Incentive Plan, thecredit union-convert announced Thursday. Less than a year aftergoing public in an IPO, the company, known until 2001 as AGE FCU,said it plans to buy those 220,328 shares back from thepublicrepresenting 6.5% of the public floatand grantthem to top management. Heritage Financial is a holding company forHeritageBank, a $365-million savings bank. Heritage, MHC, themutual holding company, holds 70% of the shares of HeritageFinancial Group. The remaining 30% of Heritage Financial Group'sshares are held by public stockholders following the company's June2005 initial public offering. At its annual meeting last month thecompany approved an Equity Incentive Plan of as many as 771,149shares.
-
Liberty Bank in Salt Lake City had been "structurally unprofitable" since 2008, according to its regulators. Experts criticized the FDIC for allowing the bank's demise to play out in slow motion.
9h ago -
The New York-based bank says it will push its concentration of commercial real estate loans below 400% of risk-based capital over the next two years and focus more on C&I.
11h ago -
The San Francisco-based firm's Anchorage Digital Trusted Liquidity and Settlement network, better known as Atlas, will allow clients to settle a range of cryptocurrency transactions.
April 25 -
Consumer spending slowed and charge-offs rose during the first quarter, but Bread Financial said a pending late-fee rule may not be as devastating to its revenue as the Columbus, Ohio-based firm initially feared.
April 25 -
Artificial intelligence models are energy hogs. Climate First Bank and UBS are among the very few trying to solve this problem.
April 25 -
The FDIC board debated and ultimately withdrew two separate proposals to address asset managers' control over banks, but acting Comptroller of the Currency Michael Hsu said he couldn't support either and called for more research and debate about how asset managers' control over banks impacts safety and soundness.
April 25