JACKSONVILLE, Fla. - (10/01/04) -- Fidelity National Financial Inc.said will change the structure of its planned acquisition ofAtlanta-based payments processor InterCept Inc., to all cash.Fidelity National, the nation's largest title insurer, hadoriginally agreed to pay the $18.90 a share, or $425 million,acquisition price in either cash or a combination of cash andstock. Fidelity said it still plans to spin off its fledglingfinancial services unit, which will include InterCept, AurumTechnology, ALLTEL Information Services, VISTA InformationSolutions, and Sanchez Computer Associates, in an initial publicoffering probably next year.
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Strong loan and deposit growth led to a double-digit increase in revenues and an even bigger jump in profits at the Columbus, Ohio-based regional bank.
October 17 -
Flagstar shareholders approved a plan to merge its holding company into the bank; Huntington tapped a new chief auditor, along with two new business leaders; First Foundation hired a new chief credit officer; and more in this week's banking news roundup.
October 17 -
In a tough quarter for the auto industry, the Detroit-based lender posted earnings that sped past Wall Street's expectations.
October 17 -
Approximately three years after the one-time non-depository bought Roscoe (Texas) State Bank, Cornerstone Capital Bancorp agreed to purchase Peoples Bancorp.
October 17 -
Regional banks say their asset quality is solid amid skittish investors. The KBW Nasdaq Regional Banking Index was largely stable Friday after falling by as much as 7% the day before.
October 17 -
Coordinated sanctions target two networks behind so-called pig butchering scams, human trafficking and money laundering for North Korean cybercrime groups.
October 17