Thu, Aug. 18, 9:00 AM| Thu, Aug. 18, 9:00 AM
Thu, Aug. 18, 8:01 AM
Wed, Aug. 17, 7:48 AM
- A deal could be announced as early as this week (it could also fall through), according to the report.
- Northern Virginia-based Cardinal (NASDAQ:CFNL) has total assets of $4.2B, and United Bankshres (NASDAQ:UBSI) - based out of D.C. and Charleston, WV - has about $14B in assets.
- A deal would be the latest in regional bank mergers, as lenders - facing a revenue squeeze thanks to low rates, and an expense squeeze from post-crisis regulations - look to add value by getting bigger.
- Cardinal reportedly put itself on the block in late July.
- UBSI -0.6%, CFNL +3% premarket
Jan. 30, 2013, 8:32 AM
More action in community bank M&A where Virginia Commerce Bancorp (VCBI) agrees to be acquired by United Bankshares (UBSI). The stock deal has a value of $14 based on the 10-day average closing price of United. VCBI closed at $12.21 yesterday, but were around $9.50 two weeks ago when the bank put itself on the block. Book value as of Sept. 30 was $7.63 ... nice.| Jan. 30, 2013, 8:32 AM | 1 Comment