Key Developments For FNB United Corp.
FNB United Corp. (FNBN.O) (Nasdaq)
FNB United Corp. Comments On Q3 2009 Charge Guidance; Temporarily Discontinues Quarterly Common Stock Cash Dividend
FNB United Corp. announced that it will book a third quarter non-cash charge of $52.4 million to eliminate the remaining goodwill on the balance sheet. The Company also announced that its Board of Directors has decided to discontinue the quarterly cash dividend previously paid on shares of its common stock. Due to the current uncertainty in markets, the Board believes it prudent to bolster the Company`s capital position by eliminating the regular quarterly cash dividend payment.
FNB United Corp. Declares $0.025 Cash Dividend
FNB United Corp. announced that it has declared a quarterly cash dividend of $0.025 per share, the same as paid in the previous quarter. The dividend will be paid on July 24, 2009, to common shareholders of record on July 2, 2009.
FNB United Corp. Declares $0.025 Cash Dividend
FNB United Corp. announced that its Board of Directors has declared a quarterly cash dividend of $0.025 per share, a reduction from $0.10 per share in the previous quarter. The dividend will be paid on April 24, 2009, to shareholders of record on March 26, 2009.
FNB United Corp. Receives $51.5 Million as an Approved Participant in the U.S. Treasury Department Capital Purchase Program
FNB United Corp. announced that it has received $51.5 million as a participant in the U.S. Treasury Department's Capital Purchase Program (CPP). The Company issued 51,500 shares of senior preferred stock and a related warrant for 2,207,143 shares of FNB United common stock to the U.S. Treasury, which represents 15.0% of the senior preferred stock or $7.725 million. The preferred stock issued by the Company will pay a 5% dividend for the first five years, after which the rate will increase to 9% if the Company does not redeem the preferred shares.
FNB United Corp. Receives $54.3 Million Commitment From U.S. Treasury's Capital Purchase Program
FNB United Corp. announced that it has received preliminary approval to participate in the U.S. Treasury Department's Capital Purchase Program. As a participant, the Company may issue up to $54.3 million in senior preferred stock to the U.S. Treasury. The anticipated sale of the preferred stock is expected to close within 30 days and is contingent upon the completion of standard closing documents.
