Banks

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Banner Corp receives regulatory approval for branch acquisitions

11:00am EDT

Banner Corp:Says Banner Bank has received regulatory approval for the acquisition of six branches in Oregon from Sterling Savings Bank, together with about $226 mln in deposits and $95 mln in loans.Five of the six branches are located in Coos County, Oregon and the sixth branch is located in Douglas County.Purchase of the branches is expected to be completed in June 2014.Banner Corp is the parent company of Banner Bank and Islanders Bank.

Pohjola Bank announces preliminary results of extra offer period in OP-Pohjola's bid for Pohjola Bank shares

8:00am EDT

Pohjola Bank plc:Says the shares tendered in the extra offer period relating to OP-Pohjola's tender offer for Pohjola Bank shares represent about 3.20 percent of all the shares and about 1.74 percent of all votes in Pohjola Bank.The shares tendered in the extra offer period increase OP-Pohjola's ownership to about 97.26 percent of all the shares and about 98.51 per cent of all votes in Pohjola Bank.The final outcome of the extra offer period and the entire tender offer will be confirmed and published on or about April 25.

Banc of California Inc's subsidiary to acquire Popular Community Bank's California Branch Network

7:00am EDT

Banc of California Inc:Wholly owned subsidiary Banc of California N.A. enters into agreement to acquire select assets and assume certain liabilities comprising California branch network of Popular Community Bank.Banc of California will pay about $5.4 mln for deposits assumed and loans acquired.Transaction includes a loss share provision that provides indemnification of up to 1.5 pct of credit losses on loans acquired in transaction during two-year period following close of transaction.

First Midwest Bancorp Inc's subsidiary to acquire Chicago banking operations of Popular Community Bank

7:00am EDT

First Midwest Bancorp Inc:First Midwest Bank, subsidiary agreement to acquire Chicago banking operations of Popular Community Bank, subsidiary of Popular Inc.Acquisition includes Popular Community Bank's retail banking offices and small business and middle market commercial lending activities in the Chicago metropolitan area.

Community Bank Shares of Indiana Inc to acquire First Financial Service Corp of Elizabethtown, Kentucky

Tuesday, 22 Apr 2014 08:28am EDT

Community Bank Shares of Indiana Inc and First Financial Service Corp:Entered into an agreement and plan of share exchange.Under the terms of the agreement, Community Bank Shares of Indiana, Inc. will exchange all of the issued and outstanding common shares of First Financial Service Corp for 0.153 shares of CBIN's common stock.As part of the transaction, FFKY's outstanding preferred stock, all of which was issued in the Troubled Assets Relief Program, will be redeemed at or promptly following closing of the acquisition for about $12.3 mln, plus accrued but unpaid interest.In addition, CBIN has entered into subscription agreements with investors to purchase about $25.0 mln of CBIN common stock immediately prior to the consummation of the share exchange transaction at a price of $22.33 per share.The transaction is expected to close in the late third or fourth quarter of 2014.Upon the consummation of the transaction, First Federal Savings Bank of Elizabethtown will be merged with and into Your Community Bank.Sterne, Agee & Leach, Inc. is serving as financial advisor to CBIN on the transaction and as placement agent on the offering.Stoll Keenon Ogden PLLC is serving as legal counsel to CBIN on the transaction and the offering.FFKY is represented by the investment banking firms of Keefe, Bruyette & Woods and Professional Bank Services, Inc. and the law firm of Frost Brown Todd LLC.

Community Bank Shares of Indiana Inc to acquire First Financial Service Corp of Elizabethtown, Kentucky

Tuesday, 22 Apr 2014 08:28am EDT

Community Bank Shares of Indiana Inc and First Financial Service Corp:Entered into an agreement and plan of share exchange.Under the terms of the agreement, Community Bank Shares of Indiana, Inc. will exchange all of the issued and outstanding common shares of First Financial Service Corp for 0.153 shares of CBIN's common stock.As part of the transaction, FFKY's outstanding preferred stock, all of which was issued in the Troubled Assets Relief Program, will be redeemed at or promptly following closing of the acquisition for about $12.3 mln, plus accrued but unpaid interest.In addition, CBIN has entered into subscription agreements with investors to purchase about $25.0 mln of CBIN common stock immediately prior to the consummation of the share exchange transaction at a price of $22.33 per share.The transaction is expected to close in the late third or fourth quarter of 2014.Upon the consummation of the transaction, First Federal Savings Bank of Elizabethtown will be merged with and into Your Community Bank.Sterne, Agee & Leach, Inc. is serving as financial advisor to CBIN on the transaction and as placement agent on the offering.Stoll Keenon Ogden PLLC is serving as legal counsel to CBIN on the transaction and the offering.FFKY is represented by the investment banking firms of Keefe, Bruyette & Woods and Professional Bank Services, Inc. and the law firm of Frost Brown Todd LLC.

Heritage Financial Group Inc signs definitive agreement to acquire Alarion Financial Services Inc

Tuesday, 22 Apr 2014 07:30am EDT

Heritage Financial Group Inc:Enters into definitive agreement to acquire all of common stock of Alarion Financial Services Inc in stock transaction valued at about $22.1 mln.Alarion's shareholders will receive 0.44 shares of company's common stock for each share of Alarion common stock owned resulting in issuance of total of about 1,159,000 shares inexchange.Affiliates of Jacobs Asset Management, LLC that are investors in both Heritage and the preferred stock of Alarion will exchange about $3.5 mln of Alarion preferred stock and accrued but unpaid dividends for about 178,000 shares of Heritage common stock.Transaction is expected to close in third quarter of 2014.

AKB Bank Moskvy OAO receives permission from FAS to acquire 95 pct stake in BPO Pechatniki OAO-AK&M

Monday, 21 Apr 2014 08:00pm EDT

AKB Bank Moskvy OAO:Federal Anti Monopoly Service of Russian Federation (FAS) has provided AKB Bank Moskvy OAO with the permission for the acquisition of a 95 pct stake in BPO Pechatniki OAO-AK&M.Following the transaction, the bank will consolidate 100 pct of BPO Pechatniki OAO's stake.No further details were disclosed.

Peoples Bancorp announces acquisition of North Akron Savings Bank

Monday, 21 Apr 2014 05:00pm EDT

Peoples Bancorp Inc and Akron, Ohio-based North Akron Savings Bank:Signing of definitive merger agreement.Under the agreement, North Akron Savings Bank will merge with and into Peoples Bank in cash and stock transaction valued at $20.1 million or $7,655 per share.

First Defiance Financial Corp and First Community Bank announce termination of merger agreement

Monday, 21 Apr 2014 04:45pm EDT

First Defiance Financial Corp:Says the company and First Community Bank jointly announced the termination of the merger agreement signed in February 2014.

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