latest news releases from the newsroom
NewStar Financial, Inc.
NewStar Financial Announces Renewal of Warehouse Line
BOSTON, Nov. 25, 2008 (GLOBE NEWSWIRE) -- NewStar Financial, Inc. (Nasdaq:NEWS) announced today that it has completed its previously announced renewal of its warehouse line with Citicorp North America, Inc. to, among other things, extend the maturity of the liquidity line to November 19, 2009, reduce the commitment amount to $300 million, and amend pricing and advance rates.
State Bancorp, Inc.
State Bancorp, Inc. Announces Preliminary Approval for $36 Million of Capital From U.S. Treasury Capital Purchase Program
JERICHO, N.Y., Nov. 25, 2008 (GLOBE NEWSWIRE) -- State Bancorp, Inc. (the "Company") (Nasdaq:STBC), parent company of State Bank of Long Island ("State Bank"), announced today it has received preliminary approval to participate in the U.S. Treasury Department's Capital Purchase Program. Through the Company's participation in this program, the U.S. Treasury will invest approximately $36 million in senior preferred shares of the Company and receive warrants on standardized terms as described in the program's term sheet for public companies available at the U.S. Treasury's website located at http://www.treas.gov. This program, which is available to qualifying financial institutions, will further strengthen State Bank's already strong capital position and support the continued growth of its core business.