Bank Holding Company Act

NEW YORK COMMUNITY BANCORP, INC. CLOSES OVER $1 BILLION EQUITY INVESTMENT STRENGTHENING BALANCE SHEET AND LIQUIDITY POSITION

Retrieved on: 
Dienstag, März 12, 2024
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HICKSVILLE, N.Y., March 11, 2024 /PRNewswire/ -- New York Community Bancorp, Inc. (NYSE: NYCB) ("NYCB" or the "Company") announced today it completed the previously announced transactions resulting in individual investments aggregating to approximately $1.05 billion in the Company by Liberty Strategic Capital ("Liberty"), funds managed by Hudson Bay Capital Management ("Hudson Bay"), funds managed by Reverence Capital Partners ("Reverence Capital"), and other investors (collectively, the "Investors").

Key Points: 
  • Our Company enters this next phase with an enhanced balance sheet and liquidity position."
  • We believe that this transaction has strengthened the Company's balance sheet and liquidity position and look forward to working with management and the dedicated workforce of NYCB to deliver shareholder value."
  • Mr. DiNello, Marshall Lux, Lawrence Savarese, Peter Schoels, David Treadwell and Jennifer Whip remain members of the Board.
  • In addition, in connection with Reg Y Transfers, the Series C Preferred Stock is automatically convertible into 1,000 shares of our common stock.

Metro Bank retains residential mortgage portfolio

Retrieved on: 
Montag, Dezember 25, 2023
Sale, Bank Holding Company Act

Metro Bank Holdings plc (LSE: MTRO LN)

Key Points: 
  • Metro Bank Holdings plc (LSE: MTRO LN)
    Following the completion of its recent capital package and cost reduction plan announced on 30 November, Metro Bank Holdings PLC has renewed balance sheet strength.
  • The Board has carefully considered a potential sale of up to £3bn of residential mortgages and concluded that, given the prevailing market environment, it is in the best interests of shareholders to retain the existing loan portfolio.
  • The information contained within this announcement is deemed by the Group to constitute inside information as stipulated under the Market Abuse Regulations (EU) No.
  • 596/2014 (which forms part of UK law pursuant to the European Union (Withdrawal) Act 2018) and was authorised for release by Clare Gilligan, Company Secretary.

Publication of the Prospectus and Circular

Retrieved on: 
Montag, Dezember 25, 2023
LSE, Bank Holding Company Act, Mass meeting, BANK, Prospectus, A4200 road, London Stock Exchange, Annual general meeting, Official List, ANY, METRO, FCA, Proxy, Cryptocurrency

Metro Bank Holdings PLC (LSE: MTRO LN)

Key Points: 
  • Metro Bank Holdings PLC (LSE: MTRO LN)
    NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART IN, OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE UNLAWFUL.
  • The Prospectus contains a Notice of General Meeting, which will be held at One Southampton Row, London WC1B 5HA on 27 November at 11.30am.
  • The Prospectus has been approved by the FCA and, together with a form of proxy relating to voting at the General Meeting, is available on the Company’s website at: www.metrobankonline.co.uk/investor-relations .
  • Terms used in this announcement shall, unless the context otherwise requires, be as defined in the Prospectus.

Results of Voting at the General Meeting

Retrieved on: 
Donnerstag, Dezember 14, 2023
Prospectus, Admission, LSE, Metrobank, Takeover, Letter, Mergers and acquisitions, Panel, Pseudo city code, BANK, ANY, Concert party (business), Official List, Bank Holding Company Act, Annual general meeting, METRO, Mass meeting, Telephone numbers in Hungary, Holding company, Security (finance)

Metro Bank is pleased to announce that, at the General Meeting convened pursuant to the Notice of General Meeting, the Resolutions (as set out in the Notice of General Meeting) were duly passed with very strong support with over 90% of shareholders voting in support of all resolutions.

Key Points: 
  • Metro Bank is pleased to announce that, at the General Meeting convened pursuant to the Notice of General Meeting, the Resolutions (as set out in the Notice of General Meeting) were duly passed with very strong support with over 90% of shareholders voting in support of all resolutions.
  • The Prospectus contained a Notice of General Meeting seeking shareholder approval to undertake the Firm Placing and to approve the waiver of the obligation of the Concert Party to make an offer under Rule 9 of the City Code on Takeovers and Mergers.
  • Capitalised terms defined in the Prospectus have the same meaning when used in this announcement, unless otherwise defined in this announcement.
  • The Company will release further announcements in respect of the progress to completion of the Capital Package as required.

Board Update

Retrieved on: 
Donnerstag, Dezember 14, 2023
Metro, LSE, Growth, Chair, Risk, Bank, Metrobank, Bank Holding Company Act

Metro Bank Holdings PLC (LSE: MTRO LN)

Key Points: 
  • Metro Bank Holdings PLC (LSE: MTRO LN)
    Metro Bank Holdings PLC (“Metro Bank” or the “Company”) today announces that, having steered the Company through its turnaround plan and delivered the recapitalisation announced on 8 October 2023 Anne Grim, Ian Henderson and Monique Melis have decided to step down from the Board effective 31 December 2023.
  • Following these changes, the Board (excluding the Chair) will comprise five Non-Executive Directors, four of whom are independent, and two Executive Directors.
  • Commenting, Robert Sharpe, Metro Bank Chair, said: "In the years which Anne, Ian and Monique have served the Board, the Bank has made significant improvements to its risk and control framework and is now primed for growth.
  • I would like to thank each of the Directors for their contribution and dedicated service to Metro Bank.”

Update on Cost Reduction Plan and Completion of the Firm Placing

Retrieved on: 
Dienstag, Dezember 5, 2023
European Union (Withdrawal) Act 2018, Automation, ANY, Metrobank, Element, Bank Holding Company Act, LSE, IT, OR, London Stock Exchange Group, FCA, Growth, Official List, Financial Conduct Authority, AFRICA, Environment, Cryptocurrency, Bank, Security (finance), EU

After further evaluation of the cost base, Metro Bank has now identified potential cost savings of up to £50 million per year.

Key Points: 
  • After further evaluation of the cost base, Metro Bank has now identified potential cost savings of up to £50 million per year.
  • The cost reduction plan will support Metro Bank in taking advantage of this opportunity.
  • The £150 million of new equity was structured as a firm placing of 500,000,000 new ordinary shares at an issue price of 30 pence per new ordinary share (the “Firm Placing”).
  • On 27 November 2023, the Company announced the passing of the shareholder resolutions necessary to approve the Firm Placing.

Update on Capital Planning*

Retrieved on: 
Samstag, September 16, 2023
LSE, PRA, Metro, Metrobank, Bank Holding Company Act, European Union (Withdrawal) Act 2018, Bank, EU

In its latest discussions, the PRA has indicated that at this stage more work is required by the Company which means approval will not be attained during 2023.

Key Points: 
  • In its latest discussions, the PRA has indicated that at this stage more work is required by the Company which means approval will not be attained during 2023.
  • The Company continues to consider how best to optimise its capital resources to allow it to take advantage of the deposit and asset origination platform that has been built.
  • The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No.
  • 596/2014 (which forms part of UK law pursuant to the European Union (Withdrawal) Act 2018) and was authorised for release by Clare Gilligan, Company Secretary.

Metro Bank Holdings PLC: Capital Update

Retrieved on: 
Freitag, Juli 28, 2023
LSE, Note, European Union Withdrawal Agreement (Public Vote) Bill 2017–19, Tier 2, Bank Holding Company Act, Bank, Metrobank, EU

Metro Bank Holdings PLC (LSE: MTRO LN)

Key Points: 
  • Metro Bank Holdings PLC (LSE: MTRO LN)
    Metro Bank Holdings PLC (the “Company”) today announces that the Bank of England’s Resolution Directorate has agreed to a further extension to the pre-existing adjustment (announced 9 December 2022) with respect to the existing £250 million 9.139% Tier 2 Notes (the “Notes”) issued by Metro Bank PLC (the “Operating Company”) regarding minimum requirement for own funds and eligible liabilities (“MREL”) eligibility.
  • The adjustment permits the Notes to remain eligible to count towards the Company’s MREL requirement until the maturity date of 26 June 2028.
  • The Notes’ recognition as Tier 2 regulatory capital will amortise from the call date (26 June 2023) over the remaining life of the instrument.
  • The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No.

Coastal Community Bank is making its first move towards the Metaverse with 3D Game and Marketplace

Retrieved on: 
Dienstag, Juni 20, 2023
Bank Holding Company Act, Coast, Foot, Greg Sprink, San Juan Islands, CCB, Community Bank, Bank holding company, Bank, Aspiration, Cryptocurrency, Fintech, Metaverse

EVERETT, Wash., June 20, 2023 (GLOBE NEWSWIRE) -- Coastal Financial Corporation (Nasdaq: CCB), the Bank holding company for Coastal Community Bank, is making its first move towards the Metaverse.

Key Points: 
  • EVERETT, Wash., June 20, 2023 (GLOBE NEWSWIRE) -- Coastal Financial Corporation (Nasdaq: CCB), the Bank holding company for Coastal Community Bank, is making its first move towards the Metaverse.
  • Eric Sprink, Chief Executive Officer, stated, "We consider this to be our first big step towards a marketplace in the Metaverse, marking a milestone for us.
  • Coastal World provides a gamified experience for digitally savvy users hungry for a different way to manage their money.
  • We firmly believe that banking doesn't have to be mundane, and it should be available to everyone."

Troutman Pepper Continues to Grow Market-Leading Financial Services Team with Addition of Joseph Reilly in DC

Retrieved on: 
Mittwoch, April 26, 2023
Fair Credit Reporting Act, OCC, LLP, CFPB, Fintech, University, Fannie Mae, Stanford University, United States Court of Appeals for the Second Circuit, FDIC, Privacy, Bank Holding Company Act, GLBA, Virginia School for Girls, Federal Reserve, JD, Troutman Pepper, Consumer, Bank holding company, American College, Virginia Law Review, Manatt, Phelps & Phillips, Financial adviser

WASHINGTON, April 26, 2023 /PRNewswire/ -- Joseph "Joe" Reilly, an experienced attorney who advises financial services companies in a wide variety of regulatory, enforcement, and compliance matters, has joined Troutman Pepper's nationally recognized Consumer Financial Services Practice Group as a partner. He most recently practiced at Manatt, Phelps & Phillips, LLP.

Key Points: 
  • WASHINGTON, April 26, 2023 /PRNewswire/ -- Joseph "Joe" Reilly , an experienced attorney who advises financial services companies in a wide variety of regulatory, enforcement, and compliance matters, has joined Troutman Pepper's nationally recognized Consumer Financial Services Practice Group as a partner.
  • "We are delighted to welcome Joe – a highly sought-after financial services and bank regulatory compliance attorney – to Troutman Pepper," said John West, chair of the firm's Business Litigation department.
  • Reilly is the third partner to join the firm's highly regarded Consumer Financial Services team in the last two months.
  • "Troutman Pepper has a market-leading financial service team that is known for its dedication to client service," Reilly said.