Shareholders of Comm Bancorp Inc. have approved the Clarks Summit, Pa., company's sale to F.N.B. Corp. in Hermitage, Pa.
The deal, valued at $70 million, was announced in early August. Comm shareholders are to receive about 3.5 shares of F.N.B. common stock and $10 in cash for each Comm share. F.N.B. has $9 billion in assets, and Comm is a $652.8 million-asset company.
The transaction is expected to close on Dec. 31, the companies said in a Dec. 3 press release.
The first U.S. bank to offer an exchange-traded product tied to bitcoin saw $34 million in trading on the first day.
Oil rights can be a surprisingly illiquid asset. A fintech called Frontlands is hoping to change that by offering a credit card for the owners of oil wells and other natural resources.
The fintech rolled out Intelligent Money Movement, a treasury service that combines payments, liquidity management and disbursements as it looks to capitalize on its multiple banking licenses.
Most banks are likely not large enough to not support stablecoins and tokenized deposits on their own, creating a new way for legacy IT firms to compete with fintechs.
It doesn't have to be all or nothing, but all paths are complex, capital markets and policy experts in the Treasury Market Practices group say.
The payments processing firm recently filed for Chapter 7 bankruptcy with a nearly $3 million disputed charge owed to a subsidiary of Global Payments.
