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Banc Of California reaches cooperation agreement with Legion Partners

Tuesday, 14 Mar 2017 06:00am EDT

Banc Of California Inc : Banc Of California reaches cooperation agreement with legion partners asset management . Banc Of California - agreed to expand size of board by 2 members, conduct search in consultation with legion for 2 additional independent directors . Banc Of California - Legion Partners agreed to withdraw its notice of nomination, submission of a business proposal submitted to company on February 6 . Says new independent directors will be in addition to previous appointments of Richard Lashley and W. Kirk Wycoff . Banc Of California Inc - Legion Partners and its affiliates beneficially own approximately 6.6% of company's outstanding common stock . Banc Of California - says under terms of agreement, Legion Partners will vote its shares in support of any director nominated and recommended by board . Banc Of California Inc - Legion Partners has also agreed to abide by certain customary standstill provisions . Banc Of California Inc - Legion Partners also agreed to abide by certain customary standstill provisions . Banc Of California Inc - Legion Partners will not acquire greater than 10% of outstanding common stock of company . Banc Of California Inc - Legion Partners agreed, that it will not acquire greater than 10% of outstanding common stock of company . Banc Of California - agreement will be in effect for period starting from signing of agreement through first day following co's 2017 annual meeting.

Farmers National Banc Corp to acquire Monitor Bancorp Inc

Monday, 13 Mar 2017 08:45am EDT

Farmers National Banc Corp : Farmers National Banc Corp to acquire Monitor Bancorp Inc . Farmers National Banc Corp - transaction valued at approximately $7.8 million . Farmers National Banc Corp says transaction valued at approximately $7.8 million . Farmers National Banc Corp - upon consummation of transaction, Monitor Bank will be merged with and into Farmers National Bank of Canfield . Farmers National Banc Corp - expects deal to be immediately accretive to tangible book value per share with no tangible book value dilution . Farmers National Banc Corp - expects transaction to be accretive to earnings per share, excluding items, beginning in first full year of combined operations .Farmers National Banc Corp - merger is expected to qualify as a tax-free reorganization for those shareholders electing to receive Farmers' shares.

CTBC Financial says profit from overseas banking business to be contributed by SE Asia, China, Japan

Monday, 13 Mar 2017 02:59am EDT

CTBC Financial Holding Co Ltd <2891.TW>, among Taiwan's major financial firms expanding overseas aggressively, made the following comments in its investor conference: Says percentage of profits from overseas banking business to rise to 44-50 percent this year versus 44 percent in 2016. . Says sees such profits will be mainly from markets of South East Asia, China, Japan and north America. . CTBC recently got an approval from Taiwan's financial regulators for a stake purchase in Thailand's LH Financial Group for 16.6 billion baht ($473.20 million). [nL3N1GK3CB] Further company coverage: [2891.TW] (Reporting by Faith Hung) ((faith.hung@thomsonreuters.com;)).

CIBC says banks and insurance companies announce canadian business growth fund of up to $1 bln

Thursday, 9 Mar 2017 10:00am EST

Canadian Imperial Bank Of Commerce : banks and insurance companies announce canadian business growth fund of up to $1 billion . typical investment amounts in each company will range between $3 million and $20 million .fund expected to have initial capital commitments of over $500 million, with possibility for future contributions of up to $1 billion.

Firstrand says HY headline EPS 211.5 cents vs. 185.4 cents

Thursday, 9 Mar 2017 01:25am EST

Firstrand Ltd - : HY basic headline earnings per share 211.5 cents versus 185.4 cents . Group is exploring strategic options to protect its counterparty status . Expects economic growth to pick up slightly in 2017, although unlikely to provide significant support to topline growth for some time . Group aims to deliver real growth in earnings and an ROE of between 18-22 pct .Declared a gross cash dividend totalling 119 cents per ordinary share out of income reserves for six months ended Dec. 31 2016.

Banque Cantonale du Valais FY net profit up 1.3 pct at CHF 57.5 million

Wednesday, 8 Mar 2017 01:05am EST

Banque Cantonale du Valais : FY net profit increased by 1.3 pct to 57.5 million Swiss francs ($56.72 million) . Dividend 3.0 francs per share . Tier 1 ratio rose from 16.4 pct (2015) to 16.8 pct (end 2016) . For the year 2017 expects business results to be at the same level as the previous years, in a still uncertain economic environment .Is expected to reach an annual result of 2017 which will not be in line with the good result in 2016.

VP Bank FY net interest income up 15.8 pct to CHF 102.4 mln

Tuesday, 7 Mar 2017 01:36am EST

VP Bank AG : Group net income of 58.0 million Swiss francs ($57.36 million) for the 2016 financial year . Tier 1 ratio (core capital ratio): 27.1 percent . Will propose to pay out a dividend of 4.50 francs per registered share A (previous year 4.00 francs) and 0.45 franc per registered share B (previous year 0.40 franc) . FY total operating income decreased by 10.9 percent, from 306.6 million francs to 273.2 million francs . FY total net interest income result showed an increase of 15.8 percent in relation to the previous year, totalling 102.4 million francs .FY income from commission business and services decreased by 6.0 percent to 118.8 million francs, whereas the income from trading activities rose by 5.5 percent to 44.5 million francs.

Bank of East Asia updates on legal proceedings

Monday, 6 Mar 2017 04:17am EST

Bank Of East Asia Ltd <0023.HK> : Has been served with a statement of claim filed by China Medical Technologies, Inc . Plaintiff alleges that Supreme Well was controlled by same directors and/or executives of plaintiff who caused funds to be paid by plaintiff to Supreme Well . Believes that claims in statement of claim are without merit and will vigorously oppose them . Board considers that statement of claim will not have any material adverse impact on normal business and operations of bank .Plaintiff alleges that payments of over US$180 million were made from accounts of supreme well and other related entities.

DVB Bank swings to consolidated net loss of 138.7 mln euros in FY

Thursday, 2 Mar 2017 12:14pm EST

DVB Bank SE : Reported a consolidated net loss before taxes of 135.3 million euros ($142.20 million) for 2016 (previous year: consolidated net income of 46.1 million euros) . Since DVB Bank SE, parent company of DVB Bank Group, did not generate a net retained profit during financial year, no dividends will be paid . FY net interest income rose by 13.8%, from 183.7 million euros to 209.0 million euros, due to new business originated . FY net interest income after allowance for credit losses was down from 42.2 million euros to -172.4 million euros . FY net fee and commission income developed favourably, rising by 15.4% to 119.2 million euros (previous year: 103.3 million euros .FY consolidated net income/loss (after taxes) amounted to -138.7 million euros(previous year: 45.6 million euros).

Aktia Real Estate Mortgage Bank Plc merged into Aktia Bank Plc

Tuesday, 28 Feb 2017 06:02am EST

Aktia Bank Abp : Aktia Real Estate Mortgage Bank Plc has been merged into Aktia Bank Plc .Aktia Real Estate Mortgage Bank has ceased to exist as a separate legal entity.

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