M&A
M&A
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A breakdown of M&A announcements in the financial services industry for the week ended Nov. 2.
November 4 -
The Treasury Department plans to auction seven more lenders' Troubled Asset Relief Program shares, with a total face value of about $90 million.
November 4 -
Taylor Capital Group (TAYC) in Chicago is buying back its outstanding Troubled Asset Relief Program shares as it waits to close its sale to MB Financial (MBFI).
November 4 - PSO content
Fidelity Creditor Service Inc., a Glendale, Calif.-based collection agency, has acquired another San Fernando Valley collection firm, its eighth acquisition in eight years.
November 4 -
Half of banking and other business leaders expect a stronger economy, and 44% expect a stronger M&A market, in the next 12 months, according to a new survey. Regulation remains a concern, but dealmakers are largely ignoring the lingering problems in Washington, observers say.
November 1 -
Royal Bank of Scotland has accelerated its plans to sell its U.S. subsidiary. The company will conduct a partial initial public offering of its Citizens Financial Group unit in the second half of 2014, and plans to fully divest itself through offerings in 2015 and 2016.
November 1 -
Camco Financial (CAFI) said its Advantage Bank has been released from a 2012 enforcement action less than a month after agreeing to sell itself to Huntington Bancshares (HBAN) in Columbus, Ohio.
November 1 - Utah
Zions Bancorp (ZION) in Salt Lake City has raised $162 million in an auction of subordinated debt.
November 1 -
NewBridge Bancorp (NBBC) in Greensboro, N.C., has agreed to buy CapStone Bank (CPSE) in Raleigh, N.C.
November 1 -
The Pennsylvania company is raising $150 million. Two-thirds of it will go toward redeeming trust-preferred securities, but the remaining funds could be used to do bigger deals.
October 31 -
The Capital Asset Pricing Models value is debatable in normal times. If misapplied in todays ultralow interest rate environment, it can severely overvalue banks and excuse poor operating performance.
October 31 -
CommunityOne Bancorp (COB) in Asheboro, N.C., reported its first quarterly profit since 2008.
October 31 -
Mortgage servicer Ocwen Financial (OCN) in Atlanta missed Wall Street's earnings estimates because of delays in integrating servicing rights portfolios it acquired.
October 31 -
EverBank Financial Corp. (EVER) in Jacksonville, Fla., has agreed to sell its default mortgage servicing platform, along with more than $20 billion in rights, to a subsidiary of Walter Investment Management.
October 31 -
The $1.7 billion-asset company submitted a shelf registration with the Securities and Exchange Commission on Wednesday that would allow it to sell up to $150 million of equities or debt.
October 30 -
Santander Bank, which recently changed its name from Sovereign Bank, casts Robert De Niro as an annoying moviegoer in an advertisement for its new checking account that offers a monthly bonus of $20.
October 30 -
The Securities and Exchange Commission recently lifted its ban on advertising private stock offerings, and it's just in time for community banks that are struggling to attract money from sophisticated investors to bolster capital and avoid selling out to other banks.
October 30 -
Cullen/Frost Bankers (CFR) in San Antonio reported a small downtick in quarterly profit after announcing a merger that would expand its business in the Texas energy sector.
October 30 -
Baylake Corp. (BYLK) in Sturgeon Bay, Wis., has been approved to join the Nasdaq.
October 30 -
Provident New York Bancorp (PBNY) in Montebello, N.Y., reported strong earnings in the quarter that ended Sept. 30 thanks to loan growth and a major decrease in merger-related expenses.
October 30



