latest news releases from the newsroom
KCAP Financial, Inc.
Kohlberg Capital Announces Withdrawal of Public Offering of Common Stock
NEW YORK, Sept. 10, 2008 (GLOBE NEWSWIRE) -- Kohlberg Capital Corporation (Nasdaq:KCAP), a publicly traded business development company, today announced that it has withdrawn a proposed public offering of 4,500,000 shares of its common stock due to general stock market conditions and unusual trading activity in the Company's stock.
Jeffersonville Bancorp Announces Developments Regarding Freddie Mac Stock
JEFFERSONVILLE, N.Y., Sept. 10, 2008 (GLOBE NEWSWIRE) -- Following the action taken by the United States Treasury Department and the Federal Finance Agency to place the Federal Home Loan Mortgage Corporation ("Freddie Mac") in conservatorship, Jeffersonville Bancorp (the "Company") (Nasdaq:JFBC) announced today that it will evaluate the Freddie Mac series Z preferred stock held by its wholly owned subsidiary, The First National Bank of Jeffersonville, for impairment as of the end of the third quarter of 2008. As of June 30, 2008, the Bank held shares of Freddie Mac series Z preferred stock with a carrying value of $5.1 million. As a result of the action taken to place Freddie Mac in conservatorship, dividends for these securities have been suspended and the market value of these securities has declined. Based on the closing trading price of Freddie Mac series Z preferred stock on September 9, 2008, the market value of the Bank's shares was $0.5 million.
Financial Institutions, Inc.
Financial Institutions, Inc. Provides Additional Investment Details
WARSAW, N.Y., Sept. 10, 2008 (GLOBE NEWSWIRE) -- Financial Institutions, Inc. (the Company) (Nasdaq:FISI), the parent company of Five Star Bank, in connection with the action taken by the United States Treasury Department and the Federal Housing Finance Agency (FHFA) with respect to the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac), today provided additional details regarding its ownership in auction rate preferred equity securities collateralized by preferred stock of Fannie Mae and Freddie Mac.
Save The World Technologies Inc.
Save The World Technologies Announces Australian Forestry Initiatives
BRISBANE, Australia, Sept. 10, 2008 (GLOBE NEWSWIRE) -- Save The World Technologies Inc. (Other OTC:SWTG), an environmental technologies company, is pleased to announce its plans for the creation of future forests for Australia by creating large scale reforestation projects to provide ongoing bio sequestration of greenhouse gases and delivering sustainable supplies of timber for export and domestic use.