Banks

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IBERIABANK completes acquisition of Old Florida Bancshares

5:46pm EDT

IBERIABANK:Completes acquisition of Old Florida Bancshares, Inc. and its subsidiary banks, Old Florida Bank and New Traditions Bank, each of which were based in Orlando, Florida.Acquisitions, including the mergers of Old Florida Bank and New Traditions Bank with and into IBERIABANK, were completed effective on March 31.Branch and operating systems conversions are expected to be completed within the next 50.Under the terms of the Agreement and Plan of Merger, Old Florida common stock shareholders shall receive 0.34 of a share of IBERIABANK Corporation common stock for each outstanding share of Old Florida common stock.Number of IBERIABANK Corporation shares issued in the merger was based on the weighted average trading price of the Company's common stock during the 15-trading day period ended March 30, of $63.18.Based on the Company's closing common stock price of $63.03 per share on March 31, the aggregate value of the common stock received at the time of closing was $21.43 per share of Old Florida common stock.Stock transfer agent will send to Old Florida common shareholders instructions regarding the process to exchange shares within approximately two weeks from the closing date.

Banc of California announces pricing of senior debt and preferred stock offerings

5:41pm EDT

Banc of California:Prices its offering of $175 mln aggregate principal amount of 5.25 pct Senior Notes due 2025.Prices its offering of an aggregate of 4 mln depositary shares, each representing a 1/40th interest in a share of its 7.375 pct Non-Cumulative Perpetual Preferred Stock, Series D, par value $0.01 per share and liquidation preference of $1,000 per share.Says offering price is of $25 per depositary share, for gross proceeds of $100 mln.Expects to use the net proceeds from the offerings for general corporate purposes.Intends to apply to list the depositary shares on the New York Stock Exchange under the symbol BANCPRD.Sandler O'Neill + Partners, L.P., BofA Merrill Lynch, Keefe, Bruyette & Woods, UBS Investment Bank and Wells Fargo Securities are acting as joint book-running managers for the notes offering.BofA Merrill Lynch and UBS Investment Bank are acting as lead book-running managers for the depositary shares offering.Wachtell, Lipton, Rosen & Katz is serving as outside legal counsel to the Company.

Carolina Bank Holdings announces $15.1 million private placement

5:19pm EDT

Carolina Bank Holdings:Enters into securities purchase agreements with select institutional investors pursuant to which it has raised $15.1 mln of convertible preferred equity.Says $15.1 mln capital raise was executed through a private placement of 15,500 shares of the company's Series B Non-Voting Convertible Preferred Stock at a price of $975 per share.Each share of the Series B Preferred Stock will automatically convert into 100 shares of the company's common stock after the company has received shareholder approval for the conversion at its annual meeting of shareholders, which is expected to be held on or about May 19.Proceeds of the capital raise, net of placement agent fees and expenses, will be about $14.1 mln and are expected to be used, to redeem the company's outstanding Fixed Rate Cumulative Perpetual Preferred Stock, Series A, and for general corporate purposes.FIG Partners, LLC acted as placement agent for the transaction.Wyrick Robbins Yates & Ponton LLP served as legal counsel to the company and Nelson Mullins Riley & Scarborough LLP served as legal counsel to FIG Partners.

Franklin Financial Network Inc announces closing of initial public offering

5:18pm EDT

Franklin Financial Network Inc:Completes its initial public offering of 2,640,000 shares of its common stock at a price to the public of $21.00 per share.Franklin Financial Network's common stock began trading on the New York Stock Exchange on March 26, under the ticker symbol FSB.BofA Merrill Lynch acted as sole book-running manager of the offering.Raymond James acted as lead-manager and Sterne Agee acted as co-manager.Franklin Financial Network, Inc. was represented in the transaction by Baker, Donelson, Bearman, Caldwell & Berkowitz, PC.Underwriters were represented in the transaction by Sidley Austin LLP.

Riverview Bancorp Inc reinstates cash dividend

4:00pm EDT

Riverview Bancorp Inc:Declares quarterly cash dividend of $0.01125 per share.Dividend will be payable April 21, of record April 6.

Sierra Bancorp finalizes CEO succession

1:35pm EDT

Sierra Bancorp:Says it has officially appointed Kevin McPhaill as President and Chief Executive Officer, effective April 1.

Nordjyske Bank elects Mads Hvolby as chairman

8:35am EDT

Nordjyske Bank A/S:Board elects Mads Hvolby as chairman.

Sydbank receives necessary approvals for fulfilling Sydinvest Administration acquisition

6:00am EDT

Sydbank A/S:Says announced on Feb. 18 acquisition of Sydinvest Administration A/S.Says deal was subject to adoption of transfer by investment funds' unit-holders at investment funds' general meetings as well as subject to approval of acquisition by Danish FSA.Says consequently conditions of acquisition have been fulfilled and acquisition is final.

Guaranty Trust Bank PLC announces change of Chairman

2:00am EDT

Guaranty Trust Bank PLC:Says retirement of Egbert Ulogo Imomoh, Chairman, at the end of the forthcoming Annual General Meeting of the Bank holding on March 31.Apponts Osaretin Afusat Demuren as Chairman to take over.

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Analyst Research

Report Title Price
Provider: Brown Brothers Harriman & Co.
$12.00
Provider: Brown Brothers Harriman & Co.
$12.00
Provider: Brown Brothers Harriman & Co.
$35.00
Provider: Brown Brothers Harriman & Co.
$35.00
Provider: Swiss Capital
$92.00

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