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First Merchants Corp Agrees To Buy CFS Bancorp Inc For About $115 Million-DJ

Monday, 13 May 2013 09:21am EDT

Dow Jones reported that First Merchants Corp has agreed to buy CFS Bancorp Inc. for about $115 million in stock. Under the deal's terms, CFS shareholders will receive 0.65 shares of First Merchants for each share of CFS owned. The implied per-share price is about $10.49, a 14% premium over Friday's closing price. The deal is expected to be completed in the fourth quarter. The combined company, doing business as First Merchants Bank, expects to complete its integration during the first quarter of 2014.

Sterling Financial Corp's Subsidiary Completes Acquisition of Seattle-Area Operations Of Boston Private Bank & Trust Company

Monday, 13 May 2013 08:30am EDT

Sterling Financial Corp announced that its principal operating subsidiary completed the acquisition of the Seattle-area operations of Boston Private Bank & Trust Company effective May 10, 2013. The transaction included the acquisition of approximately $276 million in performing loans and $172 million in deposits.

Banco Santander Brasil SA Updates on Sale of Total Stake in Subsidiary to Banco Santander SA

Monday, 13 May 2013 08:28am EDT

Banco Santander Brasil SA announced that following the announcements made on February 22, 2011 and July 14, 2011, in relation to the sale of the total shares of its wholly owned subsidiary Zurich Santander Brasil Seguros e Previdencia SA (current name Santander Seguros SA) (Zurich Santander Seguros) to Zurich Santander Insurance America SL (current name of ZS Insurance America SL), a holding company located in Spain whose 51% stake is held by Zurich Financial Services Ltd and its affiliated companies and 49% by Banco Santander SA, the Company’s controlling shareholder, the total value of the transaction was of BRL 2,744,990,429.98 resulting in a price reduction of BRL 6,567,142.00. The Company will call a general meeting to offer its shareholders the preference right for the acquisition of shares of Zurich Santander Seguros.

National Bank of Greece SA Absorbs Healthy Assets And Liabilities Of First Business Bank (FBB)

Saturday, 11 May 2013 03:31am EDT

National Bank of Greece SA (NBG) announced that it will absorb the healthy assets and liabilities of the First Business Bank (FBB). On Monday, May 13, 2013 the network of the 19 branches of FBB will operate under the umbrella and the responsibility of National Bank of Greece. The healthy assets and liabilities of FBB, obtained by National Bank of Greece (based on March 31, 2013 data) relate to: EUR 1,403 million in liabilities of which EUR 1,241 million deposits and EUR 162 million other liabilities and EUR 1,498 million in assets of which EUR 1,230 million net loans and EUR 152 million other Assets. An independent audit firm will evaluate the Balance Sheet of FBB through due diligence process. The difference between the value of assets and liabilities will be covered by the Hellenic Financial Stability Fund, according to the existing procedure, which will have the effect of providing additional liquidity to NBG. The healthy part of FBB will be completely recapitalized by the Hellenic Financial Stability Fund, before its absorption by NBG. Credit Suisse Securities (Europe) Limited acted as the sole advisor to National Bank of Greece in the tender process.

Banca Monte dei Paschi di Siena SpA Comments on Merger

Friday, 10 May 2013 06:37am EDT

Banca Monte dei Paschi di Siena SpA announced that the deed of merger by absorption of MPS Gestione Crediti Banca Spa into the Company was signed on May 6, 2013 with effect as of May 12, 2013 for civil code purposes and as of January 1, 2013 for accounting and tax effect purposes. The transaction follows on the resolution adopted by the Board of Directors of Banca Monte dei Paschi di Siena SpA and the Shareholders of MPS Gestione Crediti Banca SpA.

Indre Sogn Sparebank Acquires Fjord og Fjell Eigedomsmekling AS

Friday, 10 May 2013 02:56am EDT

Indre Sogn Sparebank announced that it has bought 100% of shares in Fjord og Fjell Eigedomsmekling AS in Ardal. The company has three employees and has office in Ovre Ardal. Financial details were not disclosed.

Bank of America Corp Sells $110 Billion CMBS Servicing Rights Portfolio To KeyCorp's Unit-Reuters

Thursday, 9 May 2013 10:14pm EDT

Reuters reported that Bank of America Corp will sell a commercial mortgage servicing rights portfolio valued at around $110 billion to a KeyCorp's unit for an undisclosed amount, the latest offloading of servicing assets which many big banks consider costly to collect on. KeyBank Real Estate Capital said in a statement it will more than double its servicing portfolio to $205 billion with the acquisition, which includes about $14 billion in special servicing rights. The transaction needs the approval of private investors.

KeyCorp's KeyBank Real Estate Capital To Acquire Bank Of America CMBS Servicing Portfolio And Berkadia CMBS Special Servicing Business

Thursday, 9 May 2013 09:11pm EDT

KeyCorp announced that KeyBank Real Estate Capital, the commercial real estate business unit, has entered into a series of agreements that will substantially increase commercial mortgage servicing business. Under the terms of an agreement with Bank of America, N.A., KeyBank has agreed to purchase certain commercial mortgage servicing rights from Bank of America. KeyBank will purchase substantially all of the third party CMBS and special servicing rights from Bank of America's Global Mortgages & Securitized Products business. This portfolio also includes servicing for a variety of private investors, subject to investor consent. The Company anticipates a seamless transition and closing of the transactions in the second quarter. Financial terms of the transaction were not disclosed.

Republic of Slovenia Raises Stake in NOVA KBM dd

Thursday, 9 May 2013 07:56am EDT

NOVA KBM dd announced that the Republic of Slovenia acquired a total 98,522,167 shares of the Company on April 29, 2013. Prior to the issuance of 98,522,167 new shares arising from the conversion of the EUR 100 million hybrid loan facility, which was provided to the Company by the Republic of Slovenia in accordance with the Hybrid Loan Facility Agreement from December 31, 2012, into Bank equity, the Republic of Slovenia held 10,822,805 shares of the Company, representing a 27.66% of the voting rights in and share capital of the Company. Following the issuance of 98,522,167 new shares arising from the conversion of the EUR 100 million hybrid loan facility, which was provided to the Company by the Republic of Slovenia into Bank equity, the Republic of Slovenia owns 109,344,972 of the Company's shares, which represent 79.44% of the voting rights in and share capital of Nova KBM dd.

Boubyan Bank KSC Makes Purchase Offer of Property from Al Safat Real Estate Co KSCC

Tuesday, 7 May 2013 08:00pm EDT

Boubyan Bank KSC announced that it has made an offer for the purchase of a property from Al Safat Real Estate Co KSCC situated at Al Qiiblah district for a total value of KWD 7.3 million.

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Analyst Research

Report Title Price
FIRST INTERSTATE - COMPANY REPORT
Provider: Brown Brothers Harriman & Co.
$12.00
Buy
FIRST INTERSTATE - COMPANY REPORT
Provider: Brown Brothers Harriman & Co.
$12.00
Buy
FIRST INTERSTATE - COMPANY REPORT
Provider: Brown Brothers Harriman & Co.
$35.00
Buy
FIRST INTERSTATE - COMPANY REPORT
Provider: Brown Brothers Harriman & Co.
$35.00
Buy
BRD – H1, 2006 RESULTS, IN LINE WITH EXPECTATIONS
Provider: Swiss Capital
$92.00
Buy

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