Client News Release
Baltimore County Savings Banks closes $10.8M TARP deal (at bizjournals.com) and Regional Bank Sees 30% Gain in '08 (at CNBC)
City of Industry, CA --(www.FinancialNewsUSA.com)-- 12/31/2008 - Savings and Loans industry news provided by Financial News USA. The holding company for Baltimore County Savings Bank completed the sale of $10.8 million in shares to the U.S. Treasury under its stock purchase program late Tuesday. BCSB Bancorp Inc. (Nasdaq: BCSB) said Dec. 16 it had gained preliminary approval to participate in Treasury's Capital Purchase Program. In a news releas, BCSB said it issued 10,800 shares of Fixed Rate Cumulative Perpetual Preferred Stock to the Treasury. The stock will pay a dividend of 5 percent for the first five years and 9 percent thereafter. The deal also gives the government a warrant to buy up to 183,465 shares of common stock at an exercise price of $8.83. Shares of the bank's stock closed Tuesday at $7.75. "This infusion of capital provides an additional measure of liquidity that will enable us to help both new and existing loan and deposit customers manage through these difficult times as well as enable us to continue our long-term initiatives," BCSB President Joseph J. [Read the full article]
Skip navigationpd_top('Story','html40','28380344','Regional Bank Sees 30% Gain in '08','The market has seen steep losses this year, but First Niagara Financial Group is coming out of 2008 with impressive gains. [Read the full article]
SEATTLE, WA--(MARKET WIRE)--Dec 29, 2008 -- On December 22, 2008, Washington Federal (Nasdaq: WFSL) announced a decrease in its quarterly cash dividend from 21 cents per share to 5 cents per share. In this release, the Company stated that due to continued deterioration in the general economy and the housing market specifically, it expects to record a provision for loan losses of approximately $35 million and believes that total non-performing assets will be approximately $300 million or 2.43% of total assets for the quarter ending December 31, 2008. The release restated Washington Federal's philosophy of
managing the dividend payout ratio to 50% of earnings or less in the
long term. This statement should not be interpreted to mean that earnings for the first fiscal quarter ending December 31, 2008 will be $.10 per share. [Read the full article]
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