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BCB Bancorp, Inc., Announces Commencement of Public Offering of $40 Million in Shares of Common Stock
September 14, 2015: 08:00 AM ET
BAYONNE, N.J., Sept. 14, 2015 (GLOBE NEWSWIRE) -- BCB Bancorp, Inc. (the "Company") (NASDAQ:BCBP), the parent company of BCB Community Bank (the "Bank"), today announced that it had commenced a public offering of $40 million in shares of its common stock. The shares will be issued pursuant to a prospectus supplement filed as part of a shelf registration statement previously filed and effective with the Securities and Exchange Commission on Form S-3.
Sandler O'Neill + Partners, L.P. will serve as the sole underwriter for the offering. The Company intends to grant the underwriter a 30-day option to purchase from the Company up to an additional 15% of the amount of the Company's common stock offered to cover over-allotments, if any.
The Company expects to use the net proceeds from the offering for general corporate purposes, including maintaining liquidity, supporting core business growth, the possible early retirement of debt, future acquisitions, funding working capital needs and maintaining the Company's capital and liquidity ratios, and the ratios of the Bank, at acceptable levels.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering will be made by means of a preliminary prospectus supplement, copies of which may be obtained without charge from Sandler O'Neill + Partners, L.P., 1251 Avenue of the Americas, 6th Floor, New York, New York 10020, Attn: Syndicate Operations, or by phone at 1-866-805-4128.
BCB Bancorp, Inc.
BCB Bancorp, Inc., is a New Jersey bank holding company headquartered in Bayonne, New Jersey, and is the parent company of BCB Community Bank, which commenced operations in 2000. The Bank operates through 14 branches in New Jersey and one branch in Staten Island, New York. The Company's focus is on building a franchise with meaningful market share and consistent revenue growth complemented by operational efficiencies which it believes will produce attractive risk-adjusted returns for its shareholders.
http://money.cnn.com/news/newsfeeds/articles/globenewswire/10149201.htm
Marker:
Bcb Bancorp (NJ) (BCBP)
$10.35 down -0.06 (-0.58%)
Volume: 31,463
* FD: I hold no position on BCBP
Nicolet, Baylake merger would form $2.2B bank
Date : 09/08/2015 @ 5:28PM
Source : PR Newswire (US)
Stock : Baylake Corp (MM) (BYLK)
Quote : $14.55 1.7 (13.23%) @ 3:26PM
Baylake Bank and Nicolet National Bank are merging to become the fifth-largest Wisconsin-based bank in both assets and deposits.
The banks' parent companies, Baylake Corp. and Nicolet Bankshares Inc. filed documents with the U.S. Securities and Exchange Commission Tuesday afternoon to combine operations under the name Nicolet National Bank, an institution that would have $2.15 billion in assets and $1.7 billion in deposits. The merger requires the approval of two federal agencies and both bank's shareholders. Executives with both banks expect the process to be completed in the first half of 2016.
[....]
Shareholder Impact
Under the terms of the agreement, Baylake Corp. shareholders would receive 0.4517 shares of Nicolet National Bankshares stock for every share of Baylake Corp. stock they own and a one-time 40-cent dividend.
[....]
http://www.greenbaypressgazette.com/story/money/2015/09/08/nicolet-baylake-merger/71892740/
*The race to merge remains in full swing.
Mr. Market is not known for his fairness or rational thinking....more often than not anything oil related is still being taken to the woodshed. :(
Marker:
Frontline Ltd (FRO)
$2.72 up 0.02 (0.74%)
Volume: 499,607
Sliding oil prices send tanker demand and rates soaring
Eric Atkins
The Globe and Mail
Published Sunday, Sep. 06, 2015 5:19PM EDT
The crash in oil prices that sent the Canadian economy reeling has been a gift to the oil shipping business.
Demand and rates for tankers have soared in the wake of last summer’s 50-per-cent plunge in crude prices as the Organization of the Petroleum Exporting Countries boosted output and China stocked up on cheap oil.
Owners of the largest tankers raised daily rates to as much as $90,000, far above the $10,000 a day it costs an owner to pilot a ship laden with Mideastern crude to Asia. In 2012 and 2013, rates averaged about $25,000 a day.
[....]
Historically, the link is weak between crude prices and tanker rates, Mr. Wetherbee said. “The ships themselves are the commodity, not crude. It’s really supply and demand for ships that drives the rates,” he said by phone.
[....]
http://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/sliding-oil-prices-send-tanker-demand-and-rates-soaring/article26240438/
Marker:
Frontline Ltd (FRO)
$2.70 0.0 (0.00%)
Volume: 1,105,286
The number of common shares outstanding in Gyrodyne following the merger is 1,482,680.
http://www.gyrodyne.com/investor.php?go=download&file=FORM_8K_-_090115.pdf
Marker:
Gyrodyne, Llc (GYRO)
$31.00 up 0.5 (1.64%)
Volume: 4,769
Bank merger creates East Tennessee's biggest locally owned bank
September 2nd, 2015
Since he joined the board of Cornerstone Bancshares Inc. six years ago, Miller Welborn has worked to help navigate the Chattanooga bank through the storms of the Great Recession, often under the watchful eye of federal regulators who placed additional oversight on Cornerstone following several years of losses.
But with the bank profitable again for the past couple of years and with a stronger capital footing, Cornerstone merged Tuesday with the Knoxville-based SmartFinancial Inc., to create the largest bank holding company based in East Tennessee. The combined bank has a relatively clean balance sheet, nearly $1 billion in assets and a market capital of nearly $95 million in a more liquid stock.
"After playing defense for six years, we're ready to play offense again," said Welborn, the new chairman of SmartFinancial Inc. "We think we're hitting the starting line at a pretty good jogging pace and we're in the best part of the country, we believe, for future growth."
Cornerstone Bank, the sixth largest bank in metro Chattanooga with five offices in Hamilton County, plus a loan production office in Dalton, Ga., will combine with Smart Bank in the first quarter of 2016. SmartBank operates five branches in Sevier and Knox counties in East Tennessee, plus a couple of locations in the Panhandle of Florida.
For now, Cornerstone and SmartBank will operate as separate banks under a common bank holding company.
"This is a true merger of equals which will allow us to retain our existing talented team, build on our combined strengths, shared values and culture, while operating more efficiently for the benefit of shareholders," said Billy Carroll, the CEO of SmartFinancial.
Carroll, who father Bill previously operated Citizens National Bank in Sevierville, started SmartBank in 2007. With the addition of a couple of branches acquired from a bank failure in Florida in 2010, Carroll has grown the Knoxville-based bank to more than $500 million in assets through the recession and its aftermath. The Florida bank operations alone in the past five years have grown assets by nearly $80 million.
"We're in a sweet spot for banking," Carroll said. "We're small enough to make credit decisions quickly in local markets by local people, but we also have the horsepower to do about any deal that you want to do."
At age 47, Carroll says he is eager to grow SmartBank, both organically and with acquisitions of other community banks in the Southeast.
"Bank is an old school business that is never going away, but often it is slow moving and cumbersome — but it doesn't have to be," Welborn said. "As we transform into a more dynamic and innovative bank, we will be better positioned to grow with our strong Southeastern markets."
To help cut the bank's cost of capital, Cornerstone's preferred stock that previously paid a 10 percent annual coupon was replaced with the sale this summer of $15 million of additional common stock. The company expects the new stock, which will trade under the symbol SMBK, will soon be added to the Nasdaq stock exchange to provide more liquidity and opportunities for future bank purchases involving stock, as well as cash.
The lower cost of capital, combined with cost advantages of combining the two banks, should help boost the bank's profits.
For now, Welborn said he expects to retain all of the bank staff, at least initially, and to soon add credit officers. The bank also plans to move into residential lending with an expanded effort to market mortgages, both for its own portfolio and to sell in the secondary market, Carroll said.
The merger of Cornerstone and SmartBank is one of four such bank combinations this year among Chattanooga's four biggest independent banks.
CapitalMark Bank merged last month with Pinnacle Bank in Nashville; FSG is preparing to combine with Atlantic Capital Bancshares by the end of the year, and FirstBank is buying Northwest Georgia Bank.
http://www.timesfreepress.com/news/business/aroundregion/story/2015/sep/02/bank-merger-creates-east-tennessees-biggest-l/323011/
Marker:
Cornerstone Bancshar (CSBQ)
$3.85 0.0 (0.00%)
Volume: 3,900
*This is the merger of 2 mediocre banks. Misery loves company but if all goes well, as hoped by both parties, the merger should produce better results than these banks were capable of generating on their own.
(25-NSE)
Date : 08/31/2015 @ 4:01PM
Source : Edgar (US Regulatory)
Stock : Gyrodyne Company of America, Inc. (MM) (GYRO)
Quote : $2.8007 -0.0493 (-1.73%) @ 5:20PM
FORM 25
NOTIFICATION OF REMOVAL FROM LISTING AND/OR REGISTRATION UNDER SECTION 12(b) OF THE SECURITIES EXCHANGE ACT OF 1934.
http://ih.advfn.com/p.php?pid=nmona&article=68350771
There's not one thing about this 2nd qtr financial report to complain about EI... in fact I would say its' exemplary. A+
I'm especially impressed with the continuance of a high NIM [4.23%].
Marker:
Sierra Vista Bank (c (SVBA)
$3.62 0.0 (0.00%)
Volume: 0
Does a guy with over 8.4mm shares out of a possible 10.4MM O/S really need 1,486 more shares?? Did he do it to send a cryptic message that he reads the BDCO board because I highly doubt he did it in response to that last earnings report. ':~O
Marker:
Blue Dolphin Energy (BDCO)
$4.75 up 0.5 (11.76%)
Volume: 450
* I no longer have an Ihub account...which means no PM's.
Marker:
Texas Pacific Land T (TPL)
$117.53 up 0.28 (0.24%)
Volume: 21,422
CL/V15 Light Sweet Crude is currently $40.29 @ bbl.
*TPL is on its' way to retesting January low of $109.
so tell me nealbilly how many "big players" had your arm up behind your back and forced you to buy this?
Big players win big but also lose big. Your either a capitalist or a socialist...pick one ...but don't play ball on a capitalist field with a socialist bat. You can't have it both ways.
This is a no cry-baby zone.
"....We note that prior to the merger, holders of GSD interests and Dividend Notes have not been able to freely transfer or sell these interests. Following the merger, such holders will own approximately 77.4% of Gyrodyne, LLC. To the extent these holders were to seek liquidity immediately after the merger, substantial volatility in share price and volume could result."
Exclusive: Greek bank access to bailout cash to be restricted
[....]
An initial 10 billion euros ($11.16 billion) will be made available "immediately" to shore up confidence in Greek banks, but it will be placed in a restricted account, at least until a "stress test" is finished by the middle or end of October, they said.
[....]
http://news.yahoo.com/exclusive-greek-bank-bailout-funds-depend-business-plan-112736777--sector.html
Marker:
Natl BK Greece Ameri (NBG)
$0.8035 down -0.0465 (-5.47%)
Volume: 6,479,689
BDCO is making the case that there is such a thing as too much insider ownership.
Marker:
Blue Dolphin Energy (BDCO)
$4.95 0.0 (0.00%)
Volume: 0
And the beat goes on!
First Internet Banco (INBK)
$36.35 up 1.94 (5.64%)
Volume: 19,738
Marker:
SVB Financial Grp. (SIVB)
$147.72 up 2.48 (1.71%)
Volume: 366,112
*52 week high
Marker:
First Internet Bancorp (INBK)
$ 33.50 up 1.5101 (4.72%)
Volume: 26,771
Marker:
Bofi Holding, Inc. (BOFI)
$133.40 up 8.09 (6.46%)
Volume: 595,592
*Up another 12% just in the past week.
• Maintained a very favorable YTD and QTD Net Interest Margin of 4.15% and 4.11%, respectively.
Yes..thank you for posting. I had read that story last week on a phone but was unable to post it...thanx for the reminder.
It was only a matter of time before this bank would be acquired. It was a very small community bank but a gem for any acquirer to have in the stable none the less.
Congrats to shareholders!
Marker:
Sutter Community Ban (SUTB)
$8.06 0.0 (0.00%)
Volume: 0
Bid- $9
Ask- $9.35
Marker:
Coast Bancorp (PC) (CTBP)
$1.45 0.0 (0.00%)
Volume: 0
*As of 6/30/2015 BV is .64 ...the bank is improving but with a P/B of 2.3 it remains over-priced.
http://www.snl.com/IRWebLinkX/reports.aspx?keyreport=-58&iid=4065986
Marker:
Amerco (UHAL)
$357.20 up 5.82 (1.66%)
Volume: 34,817
*Up 19% YoY.
This isn't your fathers Oldsmobile...opps.. I meant bank.
Historical rules of the road re: P/B multiples don't apply in the new age of non-brick n' mortar banking.
This is where the under 30 crowd goes when looking for a bank.
See INBK for further evidence. ":~O
Current Report Filing (8-k)
Date : 07/30/2015 @ 9:01AM
Source : Edgar (US Regulatory)
Stock : Bofi Holding, Inc. (MM) (BOFI)
Quote : $118.24 5.12 (4.53%) @ 3:13PM
BofI Holding, Inc. Announces Record Fourth Quarter Net Income of $24.4 million
Q4 Diluted EPS Increases 41.3%; Full-Year Diluted EPS Increases 39.5%
SAN DIEGO, CA – (MARKETWIRED) – July 30, 2015 – BofI Holding, Inc. (NASDAQ: BOFI) (“BofI”), parent company of BofI Federal Bank (the “Bank”), today announced financial results for the fourth quarter and the fiscal year ended June 30, 2015. Net income was a record $24.4 million, an increase of 52.4% over net income of $16.0 million for the quarter ended June 30, 2014. Earnings attributable to BofI’s common stockholders were $24.3 million or $1.54 per diluted share for the fourth quarter of fiscal 2015, an increase of 52.6% from $15.9 million or $1.09 per diluted share for the fourth quarter of fiscal 2014.
[....]
Other Highlights:
• Total assets reached $5,823.7 million, up $1,420.7 million or 32.3% compared to June 30, 2014
• Loan portfolio grew by $1,395.8 million or 39.5% compared to June 30, 2014
• Loan originations increased by $1,281.4 million, up 42.2% compared to the year ended June 30, 2014
• Deposits grew by $1,410.4 million, or 46.4% compared to June 30, 2014
• Net interest margin remained relatively steady with a slight decrease of 3 bps to 3.92% compared to 3.95% for the year ended June 30, 2014
• Asset quality continues to be strong with total non-performing assets of 0.55% of total assets and non-performing loans equal to 0.62% of total loans at June 30, 2015
• Tangible book value increased to $33.92 per share, up $8.65 per share compared to June 30, 2014
[....]
http://ih.advfn.com/p.php?pid=nmona&article=67949826
Marker:
Bofi Holding, Inc. (BOFI)
$112.50 down -1.39 (-1.22%)
Volume: 133,697
Marker:
First Internet Banco (INBK)
$31.71 up 3.9899 (14.39%)
Volume: 31,339
*Remarkable performance ..a double in 6 months!
Marker:
Blue Dolphin Energy (BDCO)
$5.35 up 0.43 (8.74%)
Volume: 2,808
*The highly anticipated 2nd qtr financials won't be out until mid-August.
I'm still confused, why didnt this move up with the deal announcement?
...somebody has to be the adult in the room.. might as well be Merkel.
Sandridge Energy, In (SDRXN)
$18.00 down -2.0 (-10.00%)
Volume: 550
CL\N15 Light Sweet Crude at this moment; $51.91
SD common equity 10am pps @ $0.70
EUR/USD
1.09421
*This was "Greek" week.
**China is waning...and far more serious.
Sandridge Energy, In (SDRXP)
$21.25 down -0.92 (-4.15%)
Volume: 6,444
CL\N15 Light Sweet Crude at this moment; $51.91
SD common equity 10am pps @ $0.70
EUR/USD
1.09421
*This was "Greek" week.
**China is waning...and far more serious.
JOE currently has $103.8 million available for shareholder initiatives.
Marker:
Mack Cali Realty Cor (CLI)
$18.60 down -0.32 (-1.69%)
Volume: 783,284
Proceeds of the LE Credit Facility will primarily be used to construct new petroleum product storage tanks and expand the crude oil and condensate processing facility located in Nixon, Texas (the “Nixon Facility”), as well as refinance approximately $8.5 million of debt owed to American First National Bank.
HOW HEALTHY IS THIS BANK? In a word - toxic.
CECB's woes continue into their 7th year running. It's astonishing to me the bank hasn't been closed down by regulators.
http://banktracker.investigativereportingworkshop.org/banks/maryland/elkton/cecil-bank/
Q1 of 2015 the bank had a loss of (-$1.326MM)
https://cdr.ffiec.gov/public/Reports/UbprReport.aspx?rptCycleIds=82%2c78%2c81%2c76%2c72&rptid=283&idrssd=813572&peerGroupType=&supplemental=
Marker:
Cecil Bancorp, Inc. (CECB)
$0.07 0.0 (0.00%)
Volume: 0
Marker:
BOFI Holding, Inc. (BOFI)
$106.88 UP $2.63 (2.5%)
Volume: 53,287
*stock is up another 10% over last 3 month.
Marker:
United American Bank (UABK)
$0.38 0.0 (0.00%)
Volume: 0
https://unitedamericanbank.com/About/invest.asp
Tri-Valley Bank servicing area Info.
Demographics;
Average people per household: 2.61
Median age of population: 38.9
Unemployment Rate: 4.8%
Job growth in past 1 year: -5.08%
Project job growth next 10 years: 25.04%
Median income of household: $118,740
http://www.homes.com/Home-Prices/CA/SAN-RAMON/
Example of the Housing situation in and around San Ramon, CA where Tri-Valley Bank HQ is located;
http://www.zillow.com/homes/for_sale/San-Ramon-CA/pmf,pf_pt/20337_rid/days_sort/37.885964,-121.821728,37.645772,-122.268047_rect/11_zm/
Marker:
Tri-valley Bank (ram (TRVB)
$0.32 0.0 (0.00%)
Volume: 0
Marker;
Svb Financial Grp. (SIVB)
$148.50 up 1.53 (1.04%)
Volume: 225,528
Thus, the 9-month period referenced runs through 6/19/15. If the FDIC settles before 6/19/15, the fee will only be 20 percent of Net Recoveries. Afterwards, the firms receive 25 percent of Net Recoveries.