Key Developments For Harleysville National Corporation
Harleysville National Corporation (HNBC.O) (Nasdaq)
Law Offices of Howard G. Smith Announces Investigation On Behalf Of Shareholders Of Harleysville National Corporation
Law Offices of Howard G. Smith announced that it is investigating potential claims against the Board of Directors of Harleysville National Corporation related to its agreement with First Niagara Financial Group, Inc. (First Niagara) to acquire Harleysville in an all-stock transaction valued at approximately $237 million. Under the terms of a definitive purchase agreement entered into by the parties, each Harleysville shareholder will receive 0.474 shares of First Niagara common stock for each Harleysville share owned. The investigation concerns possible breaches of fiduciary duty and other violations of state law related to approval of the acquisition by the Harleysville Board of Directors.
First Niagara Financial Group, Inc. to Acquire Harleysville National Corporation
First Niagara Financial Group, Inc. and Harleysville National Corporation announced that First Niagara has agreed to acquire the Philadelphia-area financial services company in an all-stock transaction valued at approximately $237 million or $5.50 per share. The companies signed a definitive purchase agreement for the transaction, which is expected to close in the first quarter of 2010. Under the terms of the agreement, each Harleysville shareholder will receive 0.474 shares of First Niagara common stock for each Harleysville share owned. The exchange ratio is based on First Niagara's five-day average closing stock price of $11.60 on July 22, 2009. The exchange ratio is subject to adjustment under certain circumstances if loan delinquencies at Harleysville exceed specified amounts.
Harleysville National Corporation Subsidiary Launches GenGreensm Banking Initiatives and Products
Harleysville National Bank, the banking subsidiary of Harleysville National Corporation, announced that it has launched its GenGreensm suite of banking products. The bank`s GenGreensm suite of products, consisting of GenGreensm Checking, GenGreensm Savings and e-Business Checking are fully electronic and designed to provide free, paperless banking.
Harleysville National Corporation Declares Dividend
Harleysville National Corporation announced that its Board of Directors of the Company declared a regular cash dividend of $.01 per share on 42,715,408 shares of outstanding common stock as of April 22, 2009. The dividend is payable June 15, 2009, to shareholders of record on May 30, 2009.
Harleysville National Corporation Declares Dividend
Harleysville National Corporation announced that its Board of Directors has declared a regular cash dividend of $0.10 per share on 42,977,569 shares of outstanding common stock as of January 22, 2009. The dividend is payable March 13, 2009, to shareholders of record on February 27, 2009.
