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Stock Market & Financial Investment News

News Breaks
January 9, 2013
09:12 EDTBAC, ONBOld National Bancorp acquires branches in Northern Indiana and SW Michigan from Bank of America
Old National Bancorp announced that its bank subsidiary, Old National Bank, entered into a purchase and assumption agreement to acquire 24 retail bank branches of Bank of America (BAC). The branches are located in the Northern Indiana cities of South Bend and Elkhart, and the Southwest Michigan cities of Adrian, Battle Creek, Benton Harbor, Blissfield, Brooklyn, Constantine, Jackson, Kalamazoo, Niles, Paw Paw, Portage, and St. Joseph. Deposit and loan balances to be included in the transaction were $778.8M and $7.7M, respectively, as of August 2012. This transaction is subject to regulatory approval from the Office of the Comptroller of the Currency and the satisfaction of customary closing conditions. Clients of the banking centers included in this transaction will not experience any changes to their accounts or banking routines at this time.
News For ONB;BAC From The Last 14 Days
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January 29, 2015
08:38 EDTBACAmeris Bancorp announces private placement of common stock
Ameris Bancorp (ABCB)announced the sale of shares of the company's common stock at a price of $22.50 per share to institutional accredited investors through a private placement. The company has received commitments for the sale of up to 5,320,000 shares and is in the process of closing the issuance, which is expected to be completed by January 30. The company expects to receive net proceeds from the private placement of approximately $114.5M, which it intends to use, in part, to fund the cash consideration for its recently announced acquisitions of Merchants & Southern Banks of Florida, Inc. and eighteen Bank of America (BAC) branches located in North Florida and South Georgia.
January 28, 2015
16:56 EDTBACFederal judge says FOREX manipulation case to proceed, Reuters reports
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January 26, 2015
12:49 EDTBACFederal Reserve discloses plan to improve U.S. payment system, WSJ reports
The Federal Reserve released a plan that would improve the U.S. payment system, saying the current outlook, which covers banking, checking, credit cards and online transactions is fragmented and outdated with respect to new technologies that may harm consumers, the Wall Street Journal reports. The Federal Reserve invited banks, credit card companies and payment processors to coordinate efforts. Publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
January 23, 2015
07:23 EDTBACBass does not expect large U.S. banks to break up
Publicly traded companies in the space include Bank of America (BAC), Citi (C), JPMorgan (JPM), and Wells Fargo (WFC). Kyle Bass of Hayman Capital continues speaking on CNBC.
06:42 EDTBACU.S. banks preparing for prolonged low bond yields, Reuters says
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January 22, 2015
16:00 EDTBACOptions Update; January 22, 2015
iPath S&P 500 VIX Short-Term Futures down 2.13 to 31.32 Option volume leaders: AAPL TSLA TWTR AMZN FB FXCM AVP BAC according to Track Data.
13:32 EDTONBOld National Bancorp says has repurchased 1.1M shares of stock as of Jan. 21
On November 28, Old National Bancorp entered into a Rule 10b5-1 plan under which Old National's designated broker would have the authority to repurchase up to 1M shares of common stock of Old National commencing on November 28, 2014 and expiring January 28, 2015. This plan was established in connection with the Company's previously disclosed stock repurchase plan, which was approved by the Board of Directors on October 23, 2014, and authorizes the repurchase of up to 6M shares of the company's common stock, as conditions warrant, through January 31, 2016. As of January 21, 2015, 1.1M shares of ONB common stock had been repurchased under both the Rule 10b5-1 and Repurchase Plan.
13:31 EDTONBOld National Bancorp raises quarterly dividend 9.1% to 12c per share
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January 20, 2015
09:38 EDTBACActive equity options trading
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08:54 EDTBACBank of America upgraded to Conviction Buy from Buy at Goldman
Goldman added Bank of America to the Conviction Buy List with an $18 price target following recent underperformance. The firm continues to believe shares to will be driven by better than expected top-line growth, accelerated capital returns, and a business shift towards less capital intensive earnings streams.
07:28 EDTBACTreasury Institute for Higher Education to hold a symposium
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January 16, 2015
16:36 EDTBACMarket finishes week lower on continued oil, global growth worries
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16:00 EDTBACOptions Update; January 16, 2015
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09:37 EDTBACActive equity options trading
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08:25 EDTBACMorgan Stanley says to buy the dip in Bank of America
Morgan Stanley said investors are missing the fact that Bank of America's the $578M FAS91 charge is non-cash and temporary and can reverse with higher rates. The analyst said Bank of America's expense decline is ahead of expectations and expects increased capital returns. Morgan Stanley recommends buying Bank of America on the dip and reiterates its Overweight rating and $21 price target.
07:02 EDTBACWet Seal files for Chapter 11 bankruptcy protection
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