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Seems we made it another week ..
http://www.fdic.gov/bank/individual/failed/banklist.html
LOL - I check every Friday night!
Will we make yet again ?
INteresting.. 18 pennies 4 days ago.. and now knocking on .25 already. Breakout after .30. It's coming soon IMO
-Hero
According to the last report ( Jan.16th ) , Calpers have been selling a good chunck of their position on VNBC.. 159,255 shares !
Made it again!
http://www.fdic.gov/bank/individual/failed/banklist.html
Yes, there was a big-boy buy of 45,410 shares at precisely 4 p.m. (according to my brokerage account)
(lol)
Bid is now .17/Ask is .39.
Crazy times.
Its gittin' some last minute lovin' here ... LOL - have a good weekend all ...
Going back to sleep ... CYA s in the Spring ...
Added a bit this morning ... methinks we are basing in the low .20s here ..
Nice find there Sir .. I think I will add ...
8-k from 1-9-09
On January 7, 2009, Vineyard Bank, N.A. (“Vineyard”), the wholly-owned subsidiary of Vineyard National Bancorp (the “Company”) entered into an Employee Retention Agreement (the “Agreement”) with certain employees of Vineyard, including named executive officer, Donald Pelgrim, Executive Vice President and Chief Administrative Officer of Vineyard and the Company.
Under the terms of his Agreement, Mr. Pelgrim will receive an aggregate cash retention bonus of $37,500, payable in three equal installments during the first quarter of 2009. Payment of each installment is subject to certain terms and conditions, which include Mr. Pelgrim’s continued employment with the Company.
http://ih.advfn.com/p.php?pid=nmona&cb=1231765885&article=35706526&symbol=N%5EVNBC
In addition, the Treasury Department would be required to quickly make funds available for smaller community banks, which Frank says have gotten short shrift under the federal program.
http://money.aol.com/news/articles/_a/bbdp/new-rules-for-rest-of-financial-bailout/300091
VNBC chart
Trending towards bottom boli of around .10 - and then rubber band bounce!
Tonight is FDIC seize night - grab a pizza - LOL:
First bank failures of 2009 - should be listed tonight if there are any!
http://www.fdic.gov/bank/individual/failed/banklist.html
List of banks tarp money - Vineyard not listed! Guess they don't need the assistance!
Citigroup Inc. (New York) -- $25 billion
JPMorgan Chase & Co. (New York) - $25 billion
Wells Fargo & Co. (San Francisco) -- $25 billion
Bank of America Corp. (Charlotte, N.C.) -- $15 billion
Goldman Sachs Group Inc. (New York) -- $10 billion
Merrill Lynch & Co. (New York) -- $10 billion
Morgan Stanley (New York) -- $10 billion
PNC Financial Services Group Inc. (Pittsburgh) -- $7.6 billion
US Bancorp (Minneapolis) -- $6.6 billion
GMAC LLC (Detroit) -- $5 billion
SunTrust Banks Inc. (Atlanta) -- $4.9 billion
Capital One Financial Corp. (McLean, Va.) -- $3.55 billion
Regions Financial Corp. (Birmingham, Ala.) -- $3.5 billion
Fifth Third Bancorp (Cincinnati) -- $3.4 billion
American Express Co. (New York) -- $3.39 billion
BB&T Corp. (Winston-Salem, NC) -- $3.13 billion
Bank of New York Mellon (New York) -- $3 billion
Keycorp (Cleveland) -- $2.5 billion
CIT Group Inc. (New York ) -- $2.33 billion
Comerica Inc. (Dallas) -- $2.25 billion
State Street Corp. (Boston) -- $2 billion
Marshall & Ilsley Corp. (Milwaukee) -- $1.71 billion
Northern Trust Corp. (Chicago) -- $1.5 billion
Huntington Bancshares Inc. (Columbus, Ohio) -- $1.4 billion
Zions Bancorporation (Salt Lake City) -- $1.4 billion
Synovus (Columbus, Ga.) -- $968 million
Popular Inc. (San Juan, Puerto Rico) -- $935 million
First Horizon National Corp. (Memphis, Tenn.) -- $866 million
M&T Bank Corp (Buffalo, N.Y.) -- $600 million
New York Community Bancorp (Westbury, N.Y.) -- $596 million
Colonial BancGroup Inc. (Montgomery, Ala.) -- $550 million
Associated Banc-Corp. (Green Bay, Wis.) -- $525 million
First BanCorp (San Juan, Puerto Rico) -- $400 million
Webster Financial Corp. (Waterbury, Conn.) -- $400 million
City National Corp. (Beverly Hills, Calif.) -- $395 million
Fulton Financial Corp. (Lancaster, Pa.) -- $376 million
Astoria Financial Corp. ( New York ) -- $375 million
TCF Financial Corp. (Wayzata, Minn.) -- $361 million
The South Financial Group (Greenville, N.C.) -- $347 million
Wilmington Trust (Wilmington, Del.) -- $330 million
East West Bancorp (Pasadena, Calif.) -- $306 million
Sterling Financial Corp. (Spokane, Wash.) -- $303 million
Whitney Holding Corp. (New Orleans) $301 million
Citizens Republic Bancorp (Flint, Mich.) -- $300 million
Susquehanna Bancshares Inc. (Lititz, Pa.) -- $300 million
Valley National Bancorp (Wayne, N.J.) -- $300 million
UCBH Holdings Inc. (San Francisco) -- $298 million
First Banks Inc. (Clayton, Mo.) -- $295 million
Flagstar Bancorp (Troy, Mich.) -- $266 million
Cathay General Bancorp (Los Angeles) -- $258 million
Wintrust Financial Corp. (Lake Forest, Ill.) -- $250 million
FirstMerit Corp. (Akron, Ohio) -- $248 million
SVB Financial Group (Santa Clara, Calif.) -- $235 million
International Bancshares Corp. (Laredo, Tex.) -- $216 million
Trustmark Corp. (Jackson, Miss.) -- $215 million
Umpqua Holdings Corp. (Portland, Ore.) -- $214 million
Washington Federal Savings (Seattle) -- $200 million
United Bankshares Inc. (Washington D.C. and Charleston, W.Va.) -- $197 million
MB Financial Inc. ( Chicago) -- $196 million
First Midwest Bancorp Inc. (Itasca, Ill.) --$193 million
First Niagara Financial Group Inc. (Buffalo, N.Y.) -- $184 million
Pacific Capital Bancorp (Santa Barbara, Calif.) -- $181 million
United Community Banks (Blairsville, Ga.) -- $180 million
Boston Private Financial Holdings Inc. (Boston) -- $154 million
Provident Bankshares (Baltimore) -- $151 million
National Penn Bancshares Inc. (Boyertown, Pa.) -- $150 million
Western Alliance Bancorporation (Las Vegas) -- $140 million.
Central Pacific Financial Corp. (Honolulu) -- $135 million
CVB Financial Corp. (Ontario, Calif.) -- $130 million
Sterling Bancshares Inc. (Houston) -- $125 million
Banner Corp. (Walla Walla, Wash.) -- $124 million
Signature Bank (New York) -- $120 million
1st Source Corp. (South Bend, Ind.) -- $111 million
S&T Bancorp. (Indiana, Pa.) -- $109 million
Taylor Capital Group Inc. (Rosemont, Ill.) -- $105 million
Old National Bank (Evansville, Ind.) -- $100 million
Park National Corp. (Newark, Ohio) -- $100 million
Pinnacle Financial Partners (Nashville, Tenn.) -- $95 million
Iberiabank Corp. (Lafayette, La.) -- $90 million
PlainsCapital Corp. (Dallas) -- $87.6 million
Midwest Banc Holdings Inc. (Melrose Park, Ill.) -- $84.8 million
Sandy Spring Bancorp (Olney, Md.) -- $83.1 million.
Heartland Financial USA Inc. (Dubuque, Iowa) -- $81.7 million
First Financial Bancorp. (Cincinnati) -- $80 million
Independent Bank Corp. (Rockland, Mass.) -- $78 million
Dime Community Bancshares Inc. (Brooklyn, N.Y.) -- $77.3 million
Columbia Banking System Inc. (Tacoma, Wash.) -- $76.9 million
TowneBank (Suffolk, Va.) -- $76.5 million
Bank of the Ozarks Inc. (Little Rock, Ark.) -- $75 million
Wesbanco Inc. (Wheeling, W.Va.) -- $75 million
Virginia Commerce Bancorp Inc. (Arlington, Va.) -- $73 million
Green Bankshares (Greeneville, Tenn.) -- $72.3 million
Independent Bank Corp. (Ionia, Mich.) -- $72 million
Southwest Bancorp (Stillwater, Okla.) -- $70 million
Flushing Financial Corp. (Lake Success, N.Y.) -- $70 million
Superior Bancorp (Birmingham, Ala.) -- $69 million
Community Trust Bancorp Inc. (Pikeville, Ky.) -- $68 million
Nara Bancorp (Los Angeles) -- $67 million,
First Bancorp (Troy, N.C.) -- $65 million
First Financial Holdings Inc. (Charleston, S.C.) -- $65 million
SCBT Financial Corp. (Columbia, S.C.) -- $64.8 million
CoBiz Financial Inc. (Denver) -- $64.5 million
Wilshire Bancorp (Los Angeles) -- $62 million
Lakeland Bancorp Inc. (Oak Ridge, N.J.) -- $59 million
Union Bancshares Inc. (Bowling Green, Va.) -- $59 million
Gateway Financial Holdings Inc. (Virginia Beach, Va.) -- $58 million
Great Southern Bancorp (Springfield, Mo.) -- $58 million
MainSource Financial Group (Greensburg, Ind.) -- $57 million
Center Financial Corp. (Los Angeles) -- $55 million
NewBridge Bancorp. (Greensboro, N.C.) -- $52.4 million
Ameris Bancorp (Moultrie, Ga.) -- $52 million
BancTrust Financial Group (Mobile, Ala.) -- $50 million.
Home Bancshares Inc. (Conway, Ark.) -- $50 million
Seacoast Banking Corp. of Florida (Stuart, Fla.) -- $50 million
Fidelity Southern Corp. (Atlanta) -- $48.2 million
The Bancorp Inc. (Wilmington, Del.) -- $45.2 million.
MetroCorp Bancshares Inc. (Houston) -- $45 million
Cadence Financial Corp. (Starkville, Miss.) -- $44 million
Exchange Bank (Santa Rosa, Calif.) -- $43 million
S.Y. Bancorp Inc. (Louisville, Ky.) -- $43 million
Southern Community Financial Corp. (Winston-Salem, N.C.) -- $42.7 million
Sterling Bancorp (New York) -- $42 million.
First Community Bancshares Inc. (Bluefield, Va.) -- $41.5 million
Capital Bank Corp. (Raleigh, N.C.) -- $41.3 million
Cardinal Financial Corp. (Tysons Corner, Va.) -- $41.2 million
Berkshires Hills Bancorp (Pittsfield, Mass.) -- $40 million
First M & F Corp. (Kosciusko, Miss.) -- $40 million.
Heritage Commerce Corp. (San Jose., Calif.) -- $40 million
Simmons First National Corp. (Pine Bluff, Ark.) -- $40 million
Cascade Financial Corp. (Everett, Wash.) -- $39 million
Peoples Bancorp (Marietta, Ohio) -- $39 million
Eagle Bancorp Inc. (Bethesda, Md.) -- $38.2 million
Bridgeview Bancorp Inc. (Bridgeview, Ill.) -- $38 million
Smithtown Bancorp (Smithtown, N.Y.) -- $37.8 million
Financial Instutions Inc. (Warsaw, N.Y.) -- $37.5 million
First Defiance Financial Corp. (Defiance, Ohio) -- $37 million
TIB Financial Corp. (Naples, Fla.) -- $37 million
State Bancorp Inc. (Jericho, N.Y.) --$36.8 million
Fidelity Financial Corp. (Wichita, Kan.) -- $36.3 million
West Bancorporation Inc. (West Des Moines, Iowa) -- $36 million
Yadkin Valley Financial Corp. (Elkin, N.C.) -- $36 million
Marquette National Corp. (Chicago) -- $35.5 million
Enterprise Financial Services Corp. (St. Louis) -- $35 million
Porter Bancorp Inc. (Louisville, Ky.) -- $35 million
MidWestOne Financial Group (Iowa City, Iowa) -- $34.9 million
Encore Bancshares Inc. (Houston) -- $34 million.
Centrue Financial Corp. (St. Louis, Mo.) -- $32.7 million
Pulaski Financial Corp. (St. Louis, Mo.) -- $32.5 million
MutualFirst Financial Inc. (Muncie, Ind.) -- $32.4 million
Parkvale Financial Corp (Monroeville, Pa.) -- $31.8 million
BNC Bancorp (Thomasville, N.C.)-- $31.3 million
Hawthorne Bancshares Inc. (Lee's Summit, Mo.) -- $30.3 million
Bancorp Rhode Island Inc. (Providence, R.I.) -- $30 million
Century BanCorp Inc. (Medford, Mass.) -- $30 million
Farmers Capital Bank Corp. (Frankfort, Ky.) -- $30 million
Royal Bancshares of Pennsylvania Inc. (Narberth, Penn.) -- $30 million.
StellarOne Corp. (Charlottesville, Va.) -- $30 million
Tennessee Commerce Bancorp (Franklin, Tenn.) -- $30 million
Peapack-Gladstone Financial Corp. (Gladstone, N.J.) -- $28.7 million
Colony Bankcorp Inc. (Fitzgerald, Ga.) -- $28 million
Bank of Marin Bancorp (Novato, Calif.) -- $28 million
CenterState Banks of Florida Inc. (Davenport, Fla. ) -- $27.9 million
Intermountain Community Bancorp (Sandpoint, Idaho) -- $27 million
Alliance Financial Corp. (Syracuse, N.Y.) -- $26.9 million
Patriot Bancshares (Houston) -- $26 million
Washington Banking Co. (Oak Harbor, Wash.), $26.4 million
HMN Financial Inc. (Rochester, Minn) -- $26 million
LNB Bancorp Inc. (Lorain, Ohio) -- $25.2 million
First California Financial Group (Los Angeles) -- $25 million
HF Financial Corp. (Sioux Falls, S.D.) -- $25 million
Horizon Bancorp (Michigan City, Ind.) -- $25 million
Intervest Bancshares Corp. (New York) -- $25 million
Peoples Bancorp of North Carolina Inc (Newton, N.C.) --$25 million
Shore Bancshares Inc. (Easton, Md.) -- $25 million
The First Bancorp (Damariscotta, Maine) -- $25 million
VIST Financial Corp. (Wyomissing, Pa.) -- $25 million
Crescent Financial Corp. (Cary, N.C.) -- $24.9 million
Eastern Virginia Bankshares (Tappahannock, Va.) -- $24 million
Heritage Financial Corp. (Olympia, Wash.) -- $24 million.
Bridge Capital Holdings (San Jose, Calif.) -- $23.9 million
Severn Bancorp (Annapolis, Md.) -- $23.4 million
First Citizens Banc Corp (Sandusky, Ohio) -- $23.2 million
Hampton Roads Bankshares Inc. (Norfolk, Va.) -- $22.3 million
Wainwright Bank & Trust Co. (Boston) -- $22 million
Blue Valley Ban Corp. (Overland Park, Kan.) -- $21.8 million
Indiana Community Bancorp (Columbus, Ind.) -- $21.5 million
AmeriServ Financial (Johnstown, Pa.) -- $21 million
Unity Bancorp (Clinton, N.J.) -- $20.6 million
Citizens South Banking Corp. (Gastonia, N.C.) -- $20.5 million
C&F Financial Corp. (West Point, Va.) --$20 million
Legacy Bancorp Inc. (Pittsfield, Mass.) -- $20 million
MidSouth Bancorp (Lafayette, La.) -- $20 million
First PacTrust Bancorp Inc. (Chula Vista, Calif.) -- $19.3 million
Bar Harbor Bankshares (Bar Harbor, Maine) -- $18.8 million
HopFed Bancorp Inc. (Hopkinsville, Ky.) -- $18.4 million
Security Federal Corp. (Aiken, S.C.) -- $18 million
Community Bankers Trust Corp. (Glen Allen, Va.) -- $17.7 million
Bank of Commerce Holdings Inc. (Redding, Calif.) -- $17 million
Timberland Bancorp (Hoquiam, Wash.) -- $16.6 million
1st Financial Services Corp. (Hendersonville, N.C.) -- $16.4 million
Pacific City Financial (Los Angeles) -- $16.2 million
Carolina Bank Holdings Inc. (Greensboro, N.C.) -- $16 million
Valley Financial Corp. (Roanoke, Va.) -- $16 million
Community West Bancshares (Goleta, Calif.) -- $15.6 million
Tri-County Financial Corp. (Waldorf, Md.) -- $15.5 million
LSB Corp. (North Andover, Mass.) -- $15 million
Nicolet Bankshares Inc. (Green Bay, Wis.) -- $15 million
Monarch Bank (Chesapeake, Va.) -- $14.7 million
Tidelands Bancshares (Mount Pleasant, S.C.) -- $14.4 million
Magna Bank (Memphis, Tenn.) -- $13.8 million
Oak Valley Bancorp (Oakdale, Calif.) -- $13.5 million
Community Financial Corp. (Staunton, Va.) -- $12.6 million
OneUnited Bank (Boston) -- $12.1 million
Wilber Corp. (Oneonta, N.Y.) -- $12 million
1st Constitution Bancorp (Cranbury, N.J.) -- $12 million
Pacific Coast Bankers' Bancshares (San Francisco) -- $11.6 million
Cecil Bancorp (Elkton, Md.) -- $11.6 million
First Community Corp. (Lexington, S.C.) -- $11.4 million
Central Jersey Bancorp. (Oakhurst, N.J.) -- $11.3 million
BCSB Bancorp (Baltimore) -- $10.8 million
First Community Bank Corp of America (Pinellas Park, Fla.) -- $10.7 million
Citizens Bancorp (Nevada City, Calif.) -- $10.4 million
Community Partners Bancorp (Middletown, N.J.) -- $10.35 million
United Bancorporation of Alabama (Atmore, Ala.) -- $10.3 million
North Central Bancshares Inc. (Fort Dodge, Iowa) -- $10.2 million
Center Bancorp (Union, N.J.) -- $10 million
Central Bancorp Inc. (Somerville, Mass.) -- $10 million
First Litchfield Financial Corp. (Litchfield, Conn.) -- $10 million
Mid Penn Bancorp Inc. (Millersburg, Pa.) -- $10 million
NCAL Bancorp (Los Angeles) -- $10 million
Sussex Bancorp (Franklin, N.J.) -- $10 million
Uwharrie Capital Corp. (Albemarle, N.C.) -- $10 million
Coastal Banking Co. (Beaufort, S.C.) -- ($9.95 million).
Southern Missouri Bancorp (Poplar Bluff, Mo.) -- $9.5 million
FCB Bancorp (Louisville, Ky.) -- $9.3 million
Elmira Savings Bank (Elmira, N.Y.) --- $9.09 million
Broadway Financial Corp. ( Los Angeles) -- $9 million
Citizens First Corp. (Bowling Green, Ky.) - $8.78 million
Summit State Bank (Santa Rosa, Calif.) -- $8.5 million
Annapolis Bancorp Inc. (Annapolis, Md.) -- $8 million
Commonwealth Business Bank (Los Angeles) -- $7.7 million
Emclaire Financial Corp. (Emlenton, PA.) -- $7.5 million
The Little Bank Inc. (Kinston, N.C.) -- $7.5 million
First Sound Bank (Seattle) -- $7.4 million
FFW Corp. (Wabash, Ind.) -- $7.3 million
Western Community Bancshares Inc. (Palm Desert, Calif.) -- $7.29 million
Central Federal Corp. (Fairlawn, Ohio) -- $7.23 million.
CNB Financial Corp. (Worcester, Mass.) -- $7 million
Fidelity Bancorp Inc. (Pittsburgh) -- $7 million
Old Line Bancshares Inc. (Bowie, Md.) -- $7 million
Idaho Bancorp (Boise, Idaho) -- $6.9 million
Western Illinois Bancshares Inc. (Monmouth, Ill.) -- $6.85 million
Security California Bancorp (Riverside, Calif.) -- $6.8 million
Pacific International Bancorp (Seattle) -- $6.5 million
American River Bankshares (Sacramento) -- $6 million
Beach Business Bank (Manhattan Beach, Calif.) -- $6 million
ICB Financial (Ontario, Calif.) -- $6 million
Patapsco Bank (Dundalk, Md.) -- $6 million
Leader Bancorp Inc. (Arlington, Mass.) -- $5.83 million
FPB Bancorp (Port St. Lucie, Fla.) -- $5.8 million
Mission Valley Bancorp. (Sun Valley, Calif.) -- $5.5 million
Connecticut Bank and Trust Co. (Hartford, Conn.) -- $5.4 million
Commerce National Bank (Newport Beach, Calif.) -- $5 million
Cache Valley Banking Co. (Logan, Utah) -- $4.77 million
Capital Bancorp Inc. (Rockville, Md.) -- $4.7 million
Northeast Bancorp, of Lewiston, Maine, will get $4.2 million.
Pacific Coast National Bancorp (San Clemente, Calif.) -- $4.12 million.
Pacific Commerce Bank (Los Angeles) -- $4.1 million
Capital Pacific Bancorp (Portland, Ore.) -- $4 million
Santa Lucia Bancorp (Atascadero, Calif.) -- $4 million
First Bankshares Inc. (Suffolk, Va.) -- $3.5 million
TriStone Community Bank -- $3.5 million
California Oaks State Bank (Thousand Oaks, Calif.) -- $3.3 million.
Citizens Community Bank (South Hill, Va.) -- $3 million
Tennessee Valley Financial Holdings Inc. (Oak Ridge, Tenn.) -- $3 million
Community Investors Bancorp Inc. (Bucyrus, Ohio) -- $2.6 million
Community 1st Bank (Roseville, Calif.) -- $2.55 million
TCNB Financial Corp., Dayton, Ohio, $2 million
Monadnock Bancorp Inc. (Peterborough, N.H.) -- $1.83 million
Seacoast Commerce Bank (Chula Vista, Calif.) -- $1.8 million
Manhattan Bancorp (El Segundo, Calif.) -- $1.7 million
Saigon National Bank (Westminster, Calif.) -- $1.55 million
Hows that buyout coming you dope? Price was at .60 when you were pumping it.. Looks like it hit about .13 shortly after.
VNBC looking strong.. ticking up on little volume. Offers coming?? I still maintain.. holders / buyers will see $3-$5 offers.
-Hero
I was just spoutin' hehe... but yes .. it would be nice .. seems to be more interest this last couple of days.. and it DOES make one wonder ...
GLTY/Us
that would be a welcomed moment, i do like the increse in volume , makes ya wonder.
glta
Hmmm. Me thinks same ol manipulation game so we might have to wait a bit more .. would be nice to see .60
cmon .26 , looking for a little rally here, nice to see there is some life left in this
New year brings new events and status for VNBC ?
back to .30's by 2morrow. This will be bought for > 2 bucks IMO
been moving on air this morning , keeping a close eye. some more volume and she pops(JMHO)
Looks like it just may go ...
Regular VNBC's up 20% Preferred's up 200% VXC.PR.D or VXC.D depending on your broker. Stock2 is out this am or I would ask him is something cooking?
I noticed that - looks good - just needs volume
For those of you looking at preferred shares of VNBC -
VXC-D (ameritrade)
VXC.PR.D (Etrade)
VXCpD (Scott Trade)
I am hoping the same thing for the preferred - no volume and no one willing to sell!
I got this one BOARDMARKED and on CLOSE WATCH. Looks ready! If I can find some dry powder, I'm in.
Rhino
i played that one today.
that is normal and what we wanna see
u wanna see descending volume as the price goes gown, as we have here, and ascending volume as the price goes up.
volume will return if the stock starts turning back up
when u see alot of increasing volume when the price goes down it is typically dilution.
Maybe we are next,
Consortium Reportedly to Buy IndyMacBy CHRISTOPHER S. RUGABER, AP
posted: 37 MINUTES AGOcomments: 19filed under: Bankruptcies, Financial CrisisPrintShare
Text SizeAAAWASHINGTON (Dec. 29) - A trio of private investors — J.C. Flowers & Co., Dune Capital Management and Paulson & Co. — have teamed up in an effort to buy failed thrift IndyMac, a person familiar with the deal said Monday.
The two private-equity firms and hedge-fund Paulson have applied for a federal holding company charter, according to the person, who asked not to be named because the deal has not been completed.
The investors want to convert IndyMac Federal Bank, which was seized by the Federal Deposit Insurance Corp. in July in the second-largest bank failure of the year, to a stock-held institution.
A spokesman for Paulson & Co. declined to comment Monday. Representatives from J.C. Flowers & Co. and Dune Capital Management did not respond to requests for comment.
The FDIC is considering selling IndyMac to a company named HoldCo LLC, whose partners include J.C. Flowers founder Christopher Flowers, John Paulson, and Steve Mnuchin, the chairman and co-chief executive of Dune. The FDIC has discussed a closing date of late January or early February, the person familiar with the deal said.
A spokeswoman for the FDIC declined to comment Monday.
http://money.aol.com/news/articles/_a/bbdp/buyers-step-forward-for-indymac-bank/288337?icid=sphere_newsaol_inpage
between this week and last the volume just isnt there right now. My hopes are that after the holidays things pick up to a healthier pace. It does seem to be holding pretty strong at these levels, so far.
I wouldn't mind getting some .06's again - LOL
Ugggg
60 min chart looks ok - just need that Sar to drop
It is definately coming back around!
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Main office
1260 Corona Pointe Court
Corona, CA 92879
Phone: 951-271-4232
www.vineyardbank.com
Profile
Vineyard National Bancorp operates as a holding company for Vineyard Bank, National Association, which provides community banking services. It accepts non-interest bearing demand deposits, certificates of deposit, time deposits, savings deposits, negotiable order of withdrawal, and money market deposit accounts. The bank also offers single-family residential luxury and tract construction loans, SBA 7(a) and 504 loans, commercial and residential real estate loans, and loans to non-profit organizations. In addition, it provides cash management services that comprise electronic deposit services; online banking services, including automated wire processing, electronic tax payments, electronic transfers, loan payments, bill payments, and account reconciliation; lockbox services; and Positive Pay service that allows business customers to review checks presented against accounts prior to disbursing funds. The bank serves commercial businesses, single-family residential developers and builders, individuals, commercial real estate developers and investors, non-profit organizations, and other local private and public organizations. As of December 31, 2006, it operated sixteen full-service banking centers located in Chino, Corona, Covina, Crestline, Diamond Bar, Irvine, Irwindale, Lake Arrowhead, La Verne, Manhattan Beach, Rancho Cucamonga, San Diego, San Dimas, San Rafael, Upland, and Walnut communities in Los Angeles, Marin, Orange, Riverside, San Bernardino, and San Diego counties; and five loan production offices in Anaheim, Carlsbad, Palo Alto, Monterey, and Westlake Village located in Orange, San Diego, Santa Clara, Monterey, and Ventura counties in California. The bank was founded in 1981 and is headquartered in Corona, California.
Officers
Mr. James G. LeSieur III., 66
Chairman, Interim Chief Exec. Officer, Interim Pres, Chairman of Audit Committee and Chairman of Vineyard Bank
Mr. Richard S. Hagan, 57
Chief Operating Officer
Mr. Tom Rosa
Sr. VP of Vineyard Bank
Mr. Mark Drews
Sr. VP
Governance
Vineyard National Bancorp's Corporate Governance Quotient (CGQ®) as of 1-Apr-08 is better than 77.8% of CGQ Universe companies and 64.5% of Banks companies.
Ownership
Shares Outstanding: 10.05M
Float: 8.88M
% Held by Insiders: 14.79%
% Held by Institutions: 37.50%
PREFERRED SHARES TRADE AS
VXC-D or VXC.PR.D
CORONA, CA--(Marketwire - June 27, 2007) - Vineyard National Bancorp (NASDAQ: VNBC) ("the company") announced today the closing, on June 26, 2007, of the offering of 2,300,000 shares of the company's 7.50% Series D Noncumulative Preferred Stock, with a $10.00 liquidation preference per share. The dividend on each Series D preferred share will accrue at a fixed rate of 7.50% per annum. If declared by the board of directors, dividends will be payable quarterly on the Series D preferred shares, commencing on September 15, 2007, on a noncumulative basis. The Series D preferred shares may be redeemed for cash at their $10.00 liquidation preference, in whole or in part, at any time on or after June 25, 2012. The Series D preferred shares are not convertible into or exchangeable for any other property or securities of the company.
Recent developments
Vineyard National Bancorp Reports Glass Lewis & Co. Joins Institutional Shareholder Services and Proxy Governance in Recommending That Shareholders Vote Against the Bylaw Proposal by Messrs. Morales and Salmanson
Wednesday April 9, 3:00 pm ET
CORONA, CA--(MARKET WIRE)--Apr 9, 2008 -- Vineyard National Bancorp (the "Company") (NasdaqGS:VNBC - News), parent company of Vineyard Bank, N.A. ("Vineyard") and other subsidiaries, today reported that Glass Lewis & Co. ("Glass Lewis") has joined two other major proxy advisory services -- Institutional Shareholder Services ("ISS") and Proxy Governance, Inc. ("PGI") -- in recommending that shareholders vote AGAINST the changes to the Company's bylaws that are being proposed by a stock broker, Jon Salmanson, and the Company's former Chief Executive Officer ("CEO"), Norman Morales.
Source: Vineyard National Bancorp
"We are pleased that each of these three major proxy advisory services has independently made the same recommendation: that shareholders vote AGAINST the proposed bylaw changes of Messrs. Salmanson and Morales," said James LeSieur, Chairman and Interim CEO. "Glass Lewis recognized that the proposal would 'neither produce a qualified board of directors nor a board that is more responsive to shareholders.' As we have maintained all along, the campaign by Messrs. Morales and Salmanson is not about shareholder rights generally but is a transparent attempt by a former CEO to return to power with the help of his friends and associates."
The Glass Lewis report says, in part:
Proposal 1: "While Glass Lewis supports measures that protect shareholder interests and make boards more accountable to shareholders, it does not support this proposal. [...] [T]he amendment permits shareholders to nominate directors without any objective reason, which will neither produce a qualified board of directors nor a board that is more responsive to shareholders [...] the current proposed amendment is narrowly written and only serves the purposes of the dissident shareholders" […] Accordingly, we recommend that shareholders vote the Management (Blue) card and REVOKE CONSENT from this proposal."
Proposal 2: "Glass Lewis believes that companies require some flexibility in scheduling their annual meeting dates based on possible developments at the Company or external to the Company [...] However, this flexibility does not include changing a date in order to implement a dissident shareholder proposal that is narrowly drawn in order to meet the specific needs of the dissidents. In particular, this proposal seeks to further the dissidents' objectives regarding Proposal 1 and their ability to propose a new slate of directors prior to the 2008 annual meeting [...] Accordingly, we recommend that shareholders vote the Management (Blue) card and REVOKE CONSENT from this proposal."
Proposal 3: "Glass Lewis is concerned by a proposal that clearly seeks to amend bylaws in order to further the interests of dissident shareholders and not all shareholders in general [...] Accordingly, we recommend that shareholders vote the Management (Blue) card and REVOKE CONSENT from this proposal."
Glass Lewis, ISS and PGI each provide proxy advisory services to institutional investors, mutual funds and other fiduciaries worldwide.
The Consent Solicitation Statement by Messrs. Salmanson and Morales proposes three amendments to the Company's Amended and Restated Bylaws in order to allow them to nominate candidates for election to the Board of Directors. In a mailing to shareholders, the Company's Board of Directors urges shareholders to vote AGAINST the solicitation and the proposed bylaw amendments by checking "REVOKE CONSENT," signing, dating and returning the BLUE Consent Revocation Card that is included in the Company's mailings.
If you have any questions about giving your consent revocation or require assistance, please call:
D.F. KING & CO. INC.
48 Wall Street
New York, New York 10005
Shareholders Call Toll-Free at: 800-967-7921
Banks and Brokers Call Collect at: 212-269-5550
Important Additional Information
The Company filed a Definitive Consent Revocation Statement on Schedule 14A with the Securities Exchange Commission ("SEC") on March 13, 2008 (the "Definitive Consent Revocation Statement") relating to the solicitation of consent revocations from shareholders of the Company, and in the future will file a proxy statement relating to the election of directors of the Company (the "Proxy Statement"). Investors and security holders are advised to read the Definitive Consent Revocation Statement, the Proxy Statement and other materials filed by the Company related to the Definitive Consent Revocation Statement and Proxy Statement solicitations, when available, because they contain important information. Investors and security holders may obtain a free copy of the Definitive Consent Revocation Statement, the Proxy Statement and all other related materials filed by the Company with the SEC (when they are filed and become available) free of charge at the SEC's website at www.sec.gov or by contacting D.F. King & Co., Inc., 48 Wall Street, New York, New York 10005, 1-800-967-7921. The Company also will provide a copy of these materials without charge on its website at www.vnbcstock.com.
The Company, its Board of Directors and one or more of its executive officers may be deemed to be participants in the Definitive Consent Revocation Statement and Proxy Statement solicitations. Information regarding the names of the Company's Board of Directors and executive officers and their respective interests in the Company is set forth in the Definitive Consent Revocation Statement.
About Vineyard National Bancorp
The Company is a $2.5 billion financial holding company headquartered in Corona and the parent company of Vineyard, 1031 Exchange Advantage Inc., and 1031 Funding & Reverse Corp. (collectively, "the exchange companies"). Vineyard, also headquartered in Corona, operates through 16 full-service banking centers and four regional financial centers in the counties of Los Angeles, Marin, Orange, Riverside, San Bernardino, San Diego, Santa Clara and Ventura, CA. The exchange companies are headquartered in Encinitas, CA. The Company's common stock is traded on the NASDAQ Global Market System under the symbol "VNBC." For additional information on the Company visit www.vnbcstock.com or for additional information on Vineyard and to access internet banking, please visit www.vineyardbank.com. For additional information on the exchange companies, visit www.1031exchangeadvantage.com.
Forward-Looking Statements
Certain matters discussed herein may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Federal securities laws. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond the Company's ability to control or predict. Important factors that may cause actual results to differ materially and could impact the Company and the statements contained herein can be found in the Company's filings with the SEC including quarterly reports on Form 10-Q, current reports on Form 8-K, annual reports on Form 10-K, and the Consent Revocation Statement on Schedule 14A. For forward-looking statements herein, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and other protections under the Federal securities laws. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise.
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Vineyard National Bancorp Reports ISS Recommendation That Shareholders Reject and Vote Against the Bylaw Changes Proposed by Messrs. Morales and Salmanson
Thursday April 3, 7:06 pm ET
CORONA, CA--(MARKET WIRE)--Apr 3, 2008 -- Vineyard National Bancorp (the "Company") (NasdaqGS:VNBC - News), parent company of Vineyard Bank, N.A. ("Vineyard") and other subsidiaries, reported today that Institutional Shareholder Services ("ISS"), the nation's leading independent proxy voting advisory and corporate governance service, has recommended that Company shareholders vote AGAINST changes to the Company's bylaws that are being proposed by a stock broker, Jon Salmanson, and the Company's former Chief Executive Officer ("CEO"), Norman Morales.
"We are pleased that ISS has recommended that our shareholders reject and vote AGAINST the proposed bylaw changes, which the Board of Directors (the 'Board') believes would be a step toward pursuing business plans that we consider to be risky and ill-advised in today's economic climate," said James LeSieur, Chairman and Interim CEO. "The Board believes the campaign by Messrs. Morales and Salmanson is not about shareholder rights, but instead, is a transparent attempt by a former CEO to return to power with the help of his friends and associates."
ISS, which provides proxy advisory services to institutional investors, mutual funds, and other fiduciaries worldwide, commented on each of the proposed bylaw amendments. The ISS report says in part:
Item 1: "We believe that the proposed bylaw amendment could possibly require shareholders to vote on director election with insufficient time or information to assess the candidate. Moreover, there seems to be lack of an imminent need to amend the bylaw especially given that both the company and the dissidents have similar strategies. We also highlight concerns about Mr. Morales underlying motivation for the proxy contest, given that he was the CEO until Jan 2008 and initiated a proxy contest after negotiating a termination agreement with the Company. Finally, we believe that the Board's April 2, 2008 bylaw amendments largely mitigate concerns about timing gap between the meeting date and the advance notice date. As such, we recommend shareholders vote AGAINST the proposed amendment."
Item 2: "The proposal seeks shareholder approval to amend Article II, Section 2 of the company's bylaws to require the Company's Annual Meeting of shareholders be held no earlier than the third Wednesday of May of each year and within at least thirteen (13) months of the previous Annual Meeting of shareholders. Given that the company has a history of holding its annual meeting of shareholders in the third week of May, and our lack of support for Item 1, we recommend shareholders vote AGAINST Item 2."
Item 3: "The repeal of each provision of the Company's bylaws or amendments of the bylaws that are adopted after August 2, 2007 and before the effectiveness of the bylaw amendments. Given our lack of support for Item 1, we recommend shareholders vote AGAINST Item 3."
The Consent Solicitation Statement by Messrs. Salmanson and Morales proposes three amendments to the Company's Amended and Restated Bylaws in order to allow them to nominate candidates for election to the Board of Directors. In a mailing to shareholders, the Company's Board urges shareholders to reject and vote AGAINST the solicitation and the bylaw amendments by checking "REVOKE CONSENT," signing, dating and returning the BLUE Consent Revocation Card that is included in the Company's mailings.
If you have any questions about giving your consent revocation or require assistance, please call:
D.F. KING & CO. INC.
48 Wall Street
New York, New York 10005
Shareholders Call Toll-Free at: 800-967-7921
Banks and Brokers Call Collect at: 212-269-5550
Important Additional Information
The Company filed a Definitive Consent Revocation Statement on Schedule 14A with the Securities Exchange Commission ("SEC") on March 13, 2008 (the "Definitive Consent Revocation Statement") relating to the solicitation of consent revocations from shareholders of the Company, and in the future will file a proxy statement relating to the election of directors of the Company (the "Proxy Statement"). Investors and security holders are advised to read the Definitive Consent Revocation Statement, the Proxy Statement and other materials filed by the Company related to the Definitive Consent Revocation Statement and Proxy Statement solicitations, when available, because they contain important information. Investors and security holders may obtain a free copy of the Definitive Consent Revocation Statement, the Proxy Statement and all other related materials filed by the Company with the SEC (when they are filed and become available) free of charge at the SEC's website at www.sec.gov or by contacting D.F. King & Co., Inc., 48 Wall Street, New York, New York 10005, 1-800-967-7921. The Company also will provide a copy of these materials without charge on its website at www.vnbcstock.com.
The Company, its Board and one or more of its executive officers may be deemed to be participants in the Definitive Consent Revocation Statement and Proxy Statement solicitations. Information regarding the names of the Company's Board and executive officers and their respective interests in the Company is set forth in the Definitive Consent Revocation Statement.
About Vineyard National Bancorp
The Company is a $2.5 billion financial holding company headquartered in Corona and the parent company of Vineyard, 1031 Exchange Advantage Inc., and 1031 Funding & Reverse Corp (collectively, "the exchange companies"). Vineyard, also headquartered in Corona, operates through 16 full-service banking centers and three regional financial centers in the counties of Los Angeles, Marin, Orange, Riverside, San Bernardino, San Diego, Santa Clara and Ventura, CA. The exchange companies are headquartered in Encinitas, CA. The Company's common stock is traded on the NASDAQ Global Market System under the symbol "VNBC." For additional information on the Company visit www.vnbcstock.com or for additional information on Vineyard and to access internet banking, please visit www.vineyardbank.com. For additional information on the exchange companies visit www.1031exchangeadvantage.com.
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