Naugatuck Valley Financial Corporation (the "Company") (Nasdaq:NVSL - News), the parent company of Naugatuck Valley Savings and Loan (the "Bank"), announced net income of $314,000 for the quarter ended March 31, 2010, compared to net income of $369,000 for the quarter ended March 31, 2009, a decrease of $55,000 or 14.9%. Earnings per share (basic and diluted) for the quarters ended March 31, 2010 and March 31, 2009 was $0.05.

In addition, the Board of Directors of the Company declared a cash dividend for the quarter ended March 31, 2010, of $.03 per share to stockholders of record on May 10, 2010. Payment of the cash dividend will be made on or about June 1, 2010. Naugatuck Valley Mutual Holding Company, the Company's mutual holding company, has waived receipt of the dividend. [Read the full article]

Southwest Bancorp, Inc. (Nasdaq:OKSB - News), ("Southwest"), today announced the closing of its public offering of 4,600,000 common shares at a price to the public of $12.50 per share, for gross proceeds of $57.5 million, which included 600,000 common shares pursuant to the exercise of the underwriters' over-allotment option.  

The proceeds from the offering will be used to increase the Company's working capital and for general corporate purposes, including investment in Stillwater National Bank and Trust Company or Bank of Kansas. Pending these uses, the Company may invest net proceeds in marketable investment securities or short-term, interest-bearing assets. [Read the full article]

Sterling Financial Corporation (NASDAQ:STSA - News), (“Sterling”), the bank holding company of Sterling Savings Bank and Golf Savings Bank, today announced that under the terms of its previously announced agreement with private equity firm Thomas H. Lee Partners, L.P. (“THL”), it has entered into a definitive exchange agreement with the U.S. Treasury and has signed a definitive investment agreement with THL.

The terms of such agreements are described in Sterling press release of April 27, 2010. The transactions are conditioned upon each other and on the other closing conditions previously described, including the raise by Sterling of a total of at least $720 million (inclusive of the THL investment), which is expected to enable Sterling to meet all of its regulatory capital requirements. [Read the full article]

Parkvale Financial Corporation (Nasdaq:PVSA - News) reported net income for the quarter ended March 31, 2010 of $1.4 million compared to a net loss of $14.1 million for the quarter ended March 31, 2009. Income available to common shareholders, after the payment of dividends on preferred stock was $1.0 million or $0.18 per diluted common share for the quarter ended March 31, 2010 compared to a loss of $14.5 million or $2.65 per diluted common share for the quarter ended March 31, 2009. The $15.5 million increase in net income for the March 2010 quarter reflects a lower level of debt security impairment charges of $1.0 million compared to $20.9 million for the quarter ended March 31, 2009. In addition, the provision for loan losses decreased by $662,000 to $1.2 million for the quarter. The above positive factors were partially offset by increases in tax expense and noninterest expense and by a decrease in net interest income. [Read the full article]