Key Developments For Integra Bank Corporation
Integra Bank Corporation (IBNK.O) (Consolidated Issue listed on NASDAQ Global Market)
Integra Bank Corporation Announces Appointment Of Chief Financial Officer
Integra Bank Corporation announced that its Board of Directors appointed Michael B. Carroll as Chief Financial Officer effective December 1, 2009.
Integra Bank Corporation Announces Resignation Of CFO
Integra Bank Corporation announced that Martin M. Zorn has notified the Company of his intention to resign as Chief Operating Officer and Chief Financial Officer (CFO) effective November 13, 2009. Mr. Zorn has indicated his desire to pursue another business opportunity. The Company also announced that the Board of Directors will appoint Executive Vice President Controller and Chief Accounting Officer, Michael B. Carroll, to fill Martin's responsibilities as CFO. Martin's other responsibilities are expected to be allocated among the existing officer group
Integra Bank Corporation Announces Suspension of Dividend
Integra Bank Corporation announced that its Board of Directors suspended the payment of cash dividends on the Company's common stock for an indefinite period. The quarterly cash dividend had previously been $0.01 per share.
Integra Bank Corporation And The Bank of Kentucky Financial Corp Announce Agreement for Purchase by Bank of Kentucky of Northern Kentucky Branches, Commercial Loans and Other Assets of Integra
The Bank of Kentucky Financial Corp and Integra Bank Corporation announced that The Bank of Kentucky Financial Corporation's wholly owned bank subsidiary, The Bank of Kentucky, Inc., has agreed to purchase three banking offices of Integra Bank Corporation's wholly owned bank subsidiary, Integra Bank N.A., located in Crittenden, Dry Ridge and Warsaw, Kentucky. In addition, The Bank of Kentucky has agreed as part of the branch purchase to acquire certain deposit liabilities and assets of Integra Bank's banking offices located in Union and Florence, Kentucky. In a separate transaction, The Bank of Kentucky has agreed to purchase a portfolio of commercial loans originated by Integra Bank's Covington, Kentucky, loan production office. In the branch purchase transaction, The Bank of Kentucky will assume approximately $85 million (as of September 2, 2009) of deposit liabilities related to the five branches and buy certain branch-related assets, including at least $35 million (as of September 2, 2009) in selected loans. Integra Bank intends to close the Union and Florence banking offices following the completion of this transaction and seek a buyer for the real estate. It is anticipated that additional commercial loans related to Integra Bank's Covington, Kentucky loan production office will be purchased prior to the closing of the branch purchase transaction. The parties expect the branch purchase transaction to close during the fourth quarter of 2009.
Integra Bank Corporation Announces Resignation Of Michael T. Vea As President-Form 8-K
Integra Bank Corporation reported in its Form 8-K that on August 28, 2009, entered into a Separation and release agreement with Michael T. Vea concerning his departure from the Company. Mr. Vea has agreed to resign from his position as President of the Company and as an officer of any affiliate of the Company effective August 31, 2009.
