July 2 – Peoples Bancorp Inc. (Nasdaq: PEBO), holding company for Peoples Bank, National Association, has announced that on July 1, 2013, Peoples Bank signed a definitive agreement to acquire all of the outstanding common stock of Ohio Commerce Bank, which operates a single branch in the highly attractive banking market of Beachwood, Ohio.
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March 1 – Following its final redemption earlier this month of the remaining $19 million portion of the $59 million of series A preferred stock originally issued to the United States Department of Treasury in February 2009, Lakeland Bancorp Inc. (Nasdaq:LBAI), the holding company for Lakeland Bank, Newfoundland, N.J., has repurchased the warrant issued to the Treasury under the Capital Purchase Program for $2.8 million. Prior to its repurchase, the warrant permitted the Treasury to purchase 997,049 shares of common stock at an exercise price of $8.88. The repurchase price was based upon the fair market value of the warrant as agreed upon by Treasury and Lakeland.
Sept 2 – Cleveland-based bankers Pam Caprara and John Moses have joined CapitalMark as it expands into the Cleveland market pending regulatory approval. The two long-time bankers assume their roles as directors of client services reporting to Keith Barrett, CapitalMark’s Cleveland president.
June 6 – Lakeland Bancorp and Lakeland Bank, Oak Ridge, N.J., board of directors have elected Mary Ann Deacon, a 16-year director, as chairman of the board of directors of both the holding company and the bank. She succeeds John Fredericks in this office. Fredericks became director emeritus under the bank’s director age retirement program after 42 years of service.
Feb 7 – Kaiser Federal Financial Group Inc., based in Covina, Calif., (Nasdaq:KFFG) and the holding company for Kaiser Federal Bank, has announced that Kay M. Hoveland has retired as president of the bank, effective immediately, and will retire as CEO of Kaiser Federal Bank, effective July 1, 2011. As part of the succession plan, the board of directors appointed Dustin Luton to the position of president of the bank in addition to his current position of chief operating officer of the bank, effective immediately. Hoveland will remain as president and CEO of the company and will continue to be involved in the strategic direction and shareholder enhancement efforts of the company.
Dec 8 – AmTrust Bank, Cleveland, Ohio, has been closed by the Office of Thrift Supervision, which appointed the Federal Deposit Insurance Corporation as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with New York Community Bank, Westbury, New York, to assume all of the deposits of AmTrust Bank.
In a speech on steps toward a new financial regulatory architecture, Federal Reserve Bank of Cleveland President Sandra Pianalto suggested a tiered parity in which the government would “construct a small number of tiers and assign each financial company to one of the tiers based on the complexity of its operations and the degree of risk it poses to the financial system.” Her speech is below.
July 3 – The Federal Reserve Bank of Cleveland and the FDIC’s Center for Financial Research invite submissions for a conference on the topic of Identifying and Resolving Financial Crises, to be held April 17-18, 2008 in Cleveland. The organizers are particularly interested in papers related to: