latest news releases from the newsroom
MBT Financial Corp.
MBT Announces TARP/CPP Not Necessary
MONROE, Mich., Jan. 29, 2009 (GLOBE NEWSWIRE) -- Today, the Board of Directors of MBT Financial Corp.(Nasdaq:MBTF), parent company for Monroe Bank and Trust, directed the withdrawal of its application for funding under the Capital Purchase Program (CPP) of the U.S. Treasury's Troubled Asset Relief Plan (TARP).
PVF Capital Corp.
PVF Capital Names Mark D. Grossi Board Chairman; Jack Male to Retire
SOLON, Ohio, Jan. 29, 2009 (GLOBE NEWSWIRE) -- PVF Capital Corp. (Nasdaq:PVFC) today announced the appointment of Mark D. Grossi, a veteran banking executive, as chairman of the board of the Company and its wholly owned subsidiary, Park View Federal Savings Bank, succeeding John R. (Jack) Male. In addition, Male will retire as chief executive of the Company and Bank by March 31, 2009.
Heritage Commerce Corp
Heritage Commerce Corp Declares Quarterly Cash Dividend of $0.02 Per Share
SAN JOSE, Calif., Jan. 29, 2009 (GLOBE NEWSWIRE) -- Heritage Commerce Corp (Nasdaq:HTBK), today announced that its Board of Directors declared a $0.02 per share quarterly cash dividend. The dividend will be paid on March 10, 2009, to shareholders of record on February 27, 2009. "We have reduced our dividend from $0.08 per share per quarter in our effort to conserve capital so we can continue to improve our franchise and support our customers and communities during these uncertain economic times," said Walter Kaczmarek, President and Chief Executive Officer.
Heritage Commerce Corp
Heritage Commerce Corp Reports Financial Results for 2008
SAN JOSE, Calif., Jan. 29, 2009 (GLOBE NEWSWIRE) -- Heritage Commerce Corp (Nasdaq:HTBK), parent company of Heritage Bank of Commerce, announced today earnings for 2008 of $1.8 million, or $0.13 per diluted common share. Heritage Commerce Corp earned $14.1 million, or $1.12 per diluted common share, for the year ended December 31, 2007. In the fourth quarter of 2008, net income was $700,000, or $0.04 per diluted common share, compared to $2.8 million, or $0.21 per diluted common share for the same quarter a year ago.
MBT Financial Corp.
MBT Financial Corp. Announces Profit for 2008
MONROE, Mich., Jan. 29, 2009 (GLOBE NEWSWIRE) -- MBT Financial Corp., (Nasdaq:MBTF), the parent company of Monroe Bank & Trust, reported a fourth quarter 2008 net loss of $3.0 million, or $0.19 per diluted share, compared to the loss of $2.7 million, or $0.17 per diluted share in the fourth quarter of 2007. Net income for the year ended December 31, 2008 was $1.7 million, or $0.10 per diluted share, compared to $7.7 million, or $0.47 per diluted share in 2007.
Flint Telecom Group, Inc.
Flint Telecom Group Acquires U.S. Subsidiaries of China Voice Holding Corp.
BOCA RATON, Fla., Jan. 29, 2009 (GLOBE NEWSWIRE) -- Flint Telecom Group, Inc. (OTCBB:FLTT) announced today that it has acquired six U.S. subsidiaries of China Voice Holding Corp. (CHVC) that provide distribution of prepaid calling cards within in the U.S. The acquisition provides Flint Telecom with the operational infrastructure and U.S. based management team to further leverage the Company's current network, products and enhanced services platform.
Gilman and Pastor LLP
Gilman and Pastor, LLP Announces Filing of Class Action Lawsuit Against American International Group, Inc. and Investment Banking Firms
BOSTON, Jan. 29, 2009 (GLOBE NEWSWIRE) -- Notice is hereby given that Gilman and Pastor, LLP filed a lawsuit on January 15, 2009 in the United States District Court for the Southern District of New York seeking class action status on behalf of purchasers of American International Group, Inc. ("AIG") Medium-Term Notes, Series AIG-FP ("Notes") issued by AIG pursuant and/or traceable to AIG's public offerings of Notes pursuant to a prospectus dated July 24, 2006 and a series of prospectus supplements (the "Offering Documents"), during the period from November 17, 2006 through April 10, 2008. AIG issued a prospectus supplement for each of the 59 series of Notes offered for sale, commencing with the prospectus supplement for FP-1 on November 17, 2006.
Independence Holding Company
A.M. Best Company Affirms Group Rating of 'A-' (Excellent) of All Carriers in the IHC Group
STAMFORD, Conn., Jan. 29, 2009 (GLOBE NEWSWIRE) -- Independence Holding Company (NYSE:IHC) today announced that A.M. Best Company affirmed the financial strength rating of "A-" (Excellent) for each of Standard Security Life Insurance Company of New York, Madison National Life Insurance Company, Inc. and Independence American Insurance Company. The outlook for all ratings has been revised to "negative" from "stable."
TowneBank Announces Cash Dividend On Preferred Stock
SUFFOLK, Va., Jan. 29, 2009 (GLOBE NEWSWIRE) -- Hampton Roads-based TowneBank (Nasdaq:TOWN) announced today that its Board of Directors on January 28, 2009 declared a quarterly cash dividend of $2.00 per preferred share on its 8% Non-Cumulative Convertible Preferred Stock, Series A for the period December 1, 2008 through February 28, 2009. The dividend is payable on March 2, 2009 to shareholders of record on February 13, 2009.