latest news releases from the newsroom
Security Bank Corporation
Security Bank Corporation Announces Definitive Agreement to Sell Glynn County Offices to The Heritage Bank
MACON, Ga., March 30, 2009 (GLOBE NEWSWIRE) -- Security Bank Corporation (Nasdaq:SBKC) today announced a definitive agreement to sell two Glynn County branches, located in Brunswick and St. Simons Island, to The Heritage Bank. The Heritage Bank operates one branch in Brunswick and 29 other branches throughout southeast Georgia. Following the closing of the transaction, the Brunswick and St. Simons branches of Security Bank would become branch offices of The Heritage Bank. The transaction is subject to regulatory approval and other customary closing conditions and is expected to be completed in the second quarter of 2009.
Ocwen Financial Corp.
Ocwen Financial Corporation Announces $60 Million PIPE Investment
WEST PALM BEACH, Fla., March 30, 2009 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE:OCN) announced that it has entered into a definitive agreement to sell newly issued shares of its Common Stock in a private transaction for an aggregate purchase price of approximately $60 million. The purchasers, most of whom are existing Ocwen shareholders, are affiliated with a prominent Boston-based investment management firm, and will pay $11.00 per share for 5,471,500 shares, or approximately 8% of the total outstanding shares giving effect to the new issuance. Along with their existing stockholdings, the purchasers will own approximately 9.6% of Ocwen's total outstanding shares.