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Stock Market & Financial Investment News

News Breaks
July 16, 2014
06:05 EDTBPFHBoston Private Financial, Boston Private Bank to acquire Banyan Partners
Boston Private Bank & Trust announced the signing of an agreement to acquire all of the assets of Banyan Partners. Banyan Partners has over $4.3B in client assets, and is headquartered in Palm Beach Gardens, Florida with locations in Boston, New York, Miami, Naples, Atlanta, Wisconsin, Texas and California. Boston Private Bank will establish a new, wholly owned subsidiary that will combine its existing wealth management business with that of Banyan Partners. Subject to regulatory approval and customary closing conditions, the transaction is expected to close in the Q4. Boston Private expects to pay approximately $60M in cash and stock upon closing, and Banyan Partners will also have the opportunity to receive additional consideration over a two year earn-out period.
News For BPFH From The Last 14 Days
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October 15, 2014
16:10 EDTBPFHBoston Private Financial reports Q3 EPS 22c, consensus 21c
Net Interest Income for the third quarter was $44.8M, down 3% from $46.3 million for Q214. On a year-over-year basis, Net Interest Income increased 6% from $42.3M. Net Interest Margin was 2.93% at the end of the third quarter, down 21 basis points from 3.14% at the end of Q2. Net Interest Margin was down six basis points from September 30, 2013.

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