Key Developments For MB Financial Inc
MB Financial Inc (MBFI.O) (Nasdaq)
MB Financial, Inc. Approves Dividend
MB Financial, Inc. announced that it will pay a cash dividend, distributing $0.01 per share to shareholders of record as of November 16, to be paid on November 30. The MB Financial Board of Directors approved the payment at its recent meeting.
MB Financial, Inc. Announces Closing of $201.3 Million Underwritten Public Offering of Common Stock, Including Exercise of Underwriters Over Allotment Option
MB Financial, Inc. announced that it has completed its previously announced underwritten public common stock offering by issuing 12,578,125 shares of the Company`s common stock, including 1,640,625 shares issued pursuant to the underwriters` over allotment option, at a public offering price of $16.00 per share, for aggregate gross proceeds of $201.3 million. The net proceeds to the Company after deducting underwriting discounts and commissions and estimated offering expenses are expected to be approximately $190.9 million. The Company intends to use the net proceeds for general corporate purposes. With the proceeds from this offering and the proceeds received by the Company from issuances pursuant to its Dividend Reinvestment and Stock Purchase Plan, the Company has now received aggregate gross proceeds from "Qualified Equity Offerings" in excess of the $196.0 million aggregate liquidation preference amount of its Series A preferred stock issued under the U.S. Treasury Department's Capital Purchase Program. J.P. Morgan Securities Inc. acted as the sole book-running manager. Sandler O'Neill & Partners, L.P., FBR Capital Markets & Co., Howe Barnes Hoefer & Arnett, Inc. and Sterne, Agee & Leach, Inc. were co managers.
MB Financial, Inc. Announces Pricing of Underwritten Public Offering of Common Stock
MB Financial, Inc. announced that it has priced its underwritten public offering of $175 million of its common stock at $16.00 per share, for a total of approximately 10.9 million shares of common stock. The Company intends to use the net proceeds from the offering for general corporate purposes. The offering is expected to close on September 17, 2009. J.P. Morgan Securities Inc. acted as the sole book running manager. The Company also has granted to the underwriters a 30-day option to purchase up to an additional approximately 1.6 million shares offered to cover over-allotments, if any.
MB Financial, Inc. Announces Commencement of Underwritten Public Offering of Common Stock
MB Financial, Inc. announced that it has commenced an underwritten public offering of $150 million of its common stock. The Company intends to use the net proceeds from the offering for general corporate purposes. J.P. Morgan Securities Inc. is the sole book-running manager. The Company intends to grant the underwriters a 30-day option to purchase up to an additional 15 percent of the shares offered to cover over-allotments, if any.
MB Financial, Inc.'s MB Financial Bank, N.A. Acquires Deposits of Corus Bank
MB Financial, Inc. announced that its subsidiary, Chicago-based MB Financial Bank, N.A., acquired the deposits of Chicago-based Corus Bank at the close of business on September 11, 2009, in a transaction facilitated by the Federal Deposit Insurance Corporation (FDIC). MB Financial Bank did not acquire Corus` commercial real estate loans or loans and other real estate owned related to Corus` construction lending business. These loans have been retained by the FDIC. The 11 branches of Corus will reopen as MB Financial Bank branches on their next normally scheduled business day. In addition, MB agreed to purchase Corus` investment grade securities and approximately $47 million of local consumer and small business loans.
