Key Developments: 1st United Bancorp Inc (FUBC.OQ)

FUBC.OQ on NASDAQ Stock Exchange Global Select Market

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Latest Key Developments (Source: Significant Developments)

Valley National Bancorp to acquire 1st United Bancorp Inc
Thursday, 8 May 2014 08:20am EDT 

Valley National Bancorp and 1stUnited Bancorp:Companies have entered into merger agreement whereby common shareholders of 1stUnited will receive 0.89 of share of Valley common stock for each 1stUnited share they own.Transaction is valued at an estimated $312 mln, based on Valley's closing stock price on May 5.Transaction closing is anticipated early in Q4 of 2014.  Full Article

1stUnited Bancorp Inc announces dividend
Monday, 21 Apr 2014 10:00am EDT 

1stUnited Bancorp Inc:Declares cash dividend of $0.02 per share on shares of 1stUnited common stock.Payable on May 23, to shareholders of record as of close of business on May 5.  Full Article

1st United Bancorp Inc declares cash dividend
Tuesday, 11 Feb 2014 09:05am EST 

1st United Bancorp Inc:Declares a cash dividend of $0.02 per share on shares of 1stUnited common stock, payable on Mar. 7 to shareholders of record as of the close of business on Feb. 24.  Full Article

1st United Bancorp Inc announces special dividend
Monday, 23 Dec 2013 04:15pm EST 

1st United Bancorp Inc:Says its board of directors has declared a special cash dividend on 1st United common stock of $0.10 per share, payable Jan. 20, 2014, to shareholders of record as of the close of business on Jan. 6, 2014.  Full Article

1st United Bancorp Inc Announces Dividend
Tuesday, 22 Oct 2013 09:15am EDT 

1st United Bancorp Inc announced that its board of directors has declared a cash dividend of $0.01 per share on shares of 1st United common stock, payable on November 15, 2013 to shareholders of record as of the close of business on November 4, 2013.  Full Article

1st United Bancorp Inc Announces Dividend
Tuesday, 23 Jul 2013 04:30pm EDT 

1st United Bancorp Inc announced that its board of directors has declared a cash dividend of $0.01 per share on shares of 1st United common stock, payable on August 15, 2013 to shareholders of record as of the close of business on August 5, 2013.  Full Article

1st United Bancorp Inc Completes Merger With Enterprise Bancorp Inc
Monday, 1 Jul 2013 11:00am EDT 

1st United Bancorp Inc announced that it has completed its acquisition by merger of Enterprise Bancorp Inc. (EBI) and its wholly-owned subsidiary Enterprise Bank of Florida (Enterprise Bank) for an estimated $45.8 million in total consideration. The total estimated consideration of $45.8 million includes approximately $5 million in cash, $22.2 million consisting of all former Enterprise Bank non-performing assets and certain other classified Enterprise Bank loans, and $18.6 million in impaired and below investment grade securities and other investments of Enterprise Bank. 1st United currently estimates goodwill from the transaction of approximately $9 million, with an earn-back period currently estimated at approximately three years. Bancorp's capital, liquidity and balance sheet will remain strong immediately after this merger.  Full Article

1st United Bancorp Inc Announces First Quarterly Dividend
Monday, 22 Apr 2013 08:20am EDT 

1st United Bancorp Inc announced that its board of directors has declared their first quarterly cash dividend of $0.01 per share on shares of 1st United common stock, payable on May 8, 2013 to shareholders of record as of the close of business on May 2, 2013.  Full Article

1st United Bancorp Inc's 1st United Bank to Acquire Enterprise Bancorp Inc
Friday, 22 Mar 2013 02:25pm EDT 

1st United Bancorp Inc(Bancorp) and Enterprise Bancorp Inc (EBI) announced the signing of a definitive agreement (the Agreement) under which Bancorp and 1st United Bank (1st United), the wholly-owned subsidiary of Bancorp, will acquire EBI and its wholly owned subsidiary Enterprise Bank of Florida (Enterprise Bank) for approximately $45 million total consideration. In accordance with the Agreement, the total consideration of approximately $45 million will be paid in $6 million in cash, $24 million consisting of all Enterprise Bank non-performing assets and certain other classified Enterprise Bank loans, and $15 million in impaired and below investment grade investments of Enterprise Bank. In accordance with the Agreement, the value of the non-cash consideration will be based on the carrying value of the assets prior to the closing. The transaction, unanimously approved by the board of directors of both companies, expands 1st United's existing franchise in the northern Palm Beach County market place.The merger is expected to be completed during the second half of 2013.  Full Article

1st United Bancorp Inc Adopts Stock Repurchase Program
Thursday, 13 Dec 2012 04:20pm EST 

1st United Bancorp Inc announced that its Board of Directors has adopted a stock repurchase program. Under the repurchase program, 1st United may repurchase up to 1,703,000 shares of its common stock, or approximately 5% of the current outstanding shares.  Full Article

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