Everbank closes $10 billion deal
EverBank closed the deal with Troy, Mich.-based Flagstar Bancorp Inc. to purchase its residential servicing rights Friday night, according EverBank’s PR firm, SHIFT Communications. The Jacksonville-based EverBank Financial Corp. was reportedly working on a $10 billion deal to acquire the residential servicing rights from the savings bank (NYSE: FBC), according to an article American Banker on Friday. EverBank would not confirm the deal with the Business Journal at the time. The article cited investment banking sources familiar with the matter as saying the bid price is in the range of 75 basis points, though the figure could not be confirmed. EverBank is the 22nd largest mortgage servicer in the nation with about $46 billion in residential loans, according to the Quarterly Data Report. The deal will jump EverBank to the 20th largest residential loan servicer nationwide. [Read the full article]
Camco Financial Corporation (Nasdaq:CAFI – News), the financial holding company for Advantage Bank, announced a loss of $11.8 million or $1.64 per share for the three months ending December 31, 2009 as compared to a net loss of $15.8 million or $2.20 per share for the same period in 2008. For the year ended December 31, 2009 the Company reported a loss of $11.2 million or $1.56 per share, as compared to a loss of $15.3 million or $2.14 per share, for the prior year.
The decline in earnings during the fourth quarter reflects current economic conditions and the recognition of losses identified in certain larger impaired commercial real estate relationships. During 2009, the Company significantly increased its credit risk management efforts, addressing many of the loans that were categorized as classified and nonaccrual. These efforts also helped to identify the status of the mentioned loans during the fourth quarter. [Read the full article]
Ameriana Bancorp (NASDAQ: ASBI – News), parent company for Ameriana Bank, today announced that Michael L. Wenstrup has been named Chief Credit Officer for Ameriana Bank.
Prior to joining Ameriana Bank, Wenstrup worked for approximately 10 years with Parkway Bank & Trust Company, a $2.1 billion financial institution with 40 branches in Illinois and Arizona. Most recently serving as Executive Vice President – Chief Credit Officer and Director, he was responsible for overall credit management, lending and risk analysis, including FDIC/State exams. Wenstrup also oversaw internal and regulatory requirements for lending policies and procedures, as well as the management, expansion and monitoring of the loan portfolio. [Read the full article]
HOME FINANCIAL BANCORP, (OTCBB: HWEN – News), the holding company for a federal savings bank based in Spencer, Indiana (the “Corporation”), announced today that it has declared a cash dividend of $.03 on each share of its Common Stock for its third fiscal quarter ended March 31, 2010. The dividend is payable on April 1, 2010, to holders of record on March 12, 2010.
Home Financial BancorpKurt D. [Read the full article]