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  • National Holdings Corporation and vFinance, Inc. Announce Completion of Merger

    National Holdings Corporation (OTCBB:NHLD) ("National") and vFinance, Inc. (OTCBB:VFIN) ("vFinance"), full service investment banking companies, today announced the completion of the merger between the two companies. The combined company will continue to operate its three separate broker-dealers under the existing names of National Securities Corporation, vFinance Investments, Inc. and EquityStation, Inc. In addition, concurrent with the completion of the merger, National closed on a $3.0 million private placement consisting of a Convertible Note and a Warrant with St. Cloud Capital Partners II, L.P.

  • Nationally Ranked Wholesaler Obtains New $1.75 Billion Funding Facility

    Ocala Funding LLC, a wholly owned subsidiary of Taylor, Bean & Whitaker Mortgage Corp. (TB&W) successfully closed a $1.75 billion funding facility yesterday. This transaction will provide Taylor Bean & Whitaker with substantial additional warehouse capacity.

  • Certified Diabetic Services, Inc. Closes $2 Million Equity Financing

    Certified Diabetic Services, Inc. ("CDS") (Pink Sheets:CDIP), a national direct-to-consumer mail-order distributor of diabetic supplies and pharmaceutical services, announced that it has closed a $2 million private placement. The funds will be used to purchase a new headquarters for the Company and to provide working capital for growth. The $2 million was structured as preferred shares which are convertible into common shares; the investor also received warrants in the deal. Midtown Partners & Co., LLC acted as sole placement agent in this transaction.

  • ProVest Opens Maryland Branch to Assist With New Legislative Demands

    ProVest (www.provest.us), a national process server management company dedicated to improving the default servicing industry, announced that it opened an office in Maryland to support the state's home retention efforts. The new office provides local attorneys and mortgage servicers with resources necessary to meet Maryland's emergency legislation requiring a private process server to attempt to personally notify homeowners of the intent to foreclose.

  • Palm Beach Capital Announces Acquisition of SUNZ Group, LLC

    Palm Beach Capital, through one of its investment entities, today announced that it has acquired SUNZ Group, LLC ("SUNZ"). Terms of the transaction were not disclosed. This transaction is the tenth equity investment by Palm Beach Capital from Palm Beach Capital Fund II and its twenty-seventh overall since inception.

  • Cataldo Capozza Seeks Leave to File Second Amended Complaint

    Cataldo J. Capozza, an original member and shareholder of NYMEX Holding, Inc. ("NYMEX") (NYSE:NMX), who filed a class action on March 17, 2008, in the Delaware Chancery Court on behalf of all NYMEX shareholders, announced today that his attorneys have sought permission from the Court to file a Second Consolidated and Amended Class Action Complaint in the action which provides substantial details of the defendants' alleged breaches of fiduciary duty. A copy of the complaint is available from the court or can be viewed by clicking on the link at the firm's website, www.whafh.com, under the heading "NYMEX SHAREHOLDER LITIGATION."

  • BankUnited Financial Corporation Holds Special Meeting of Stockholders

    BankUnited Financial Corporation (NASDAQ:BKUNA), parent company of BankUnited FSB, today announced that it is pursuing alternative sources of capital and strategic opportunities in addition to those previously announced.

  • Atlantic Coast Federal Corporation Reduces Quarterly Dividend to $0.12 Per Common Share

    Atlantic Coast Federal Corporation (NASDAQ: ACFC), the holding company for Atlantic Coast Bank, today announced that its Board of Directors has declared a quarterly cash dividend on common stock of $0.12 per share, down from the previous rate of $0.15 per share. The dividend will be paid on July 28, 2008, to all stockholders of record as of July 11, 2008.

  • Credit Union 24 Extends Agreement with Allpoint to Offer Nearly 50,000 Surcharge-Free ATMs Through CU HERE Premium Network

    Credit Union 24, the largest credit union-owned point-of-sale (POS) network in the U.S., announced today it has extended its relationship with the Allpoint Network and will continue to offer the CU HERE Premium network and its nearly 50,000 surcharge-free ATMs to its credit union participants.

  • The South Financial Group Declares Dividend on Preferred Stock

    The South Financial Group, Inc. (NASDAQ: TSFG) ("TSFG") today announced its Board of Directors has declared a quarterly cash dividend on its Mandatory Convertible Non-cumulative Preferred Stock (Series 2008 ND-V, Series 2008 ND-NV, Series 2008D-V, and Series 2008D-NV). The dividend is equal to $23.33 per preferred share. This amount, which is based on a rate per annum of 10%, is pro-rated over the initial dividend period from the May 8, 2008 issuance date through July 31, 2008 using 30-day months.

  • TIB Financial Corp. to Distribute Stock Dividend in Lieu of Quarterly Cash Dividend; Updates Developments in the Second Quarter

    TIB Financial Corp. (NASDAQ:TIBB), parent company of TIB Bank, The Bank of Venice and Naples Capital Advisors, leading financial services providers serving the greater Naples, Bonita Springs and Fort Myers area, Highlands County, South Miami-Dade County, the Florida Keys and Sarasota County, today said its Board of Directors has voted to distribute a 1% (one percent) stock dividend valued at approximately $0.06 per share to holders of record as of July 7, 2008. The stock dividend will be distributed July 17, 2008 and is comparable in value to the company's most recent quarterly cash dividend paid April 10, 2008.

  • Federal Home Loan Bank of San Francisco Awards $37.3 Million in Affordable Housing Program Grants in Eight States

    The Federal Home Loan Bank of San Francisco today awarded $37.3 million in Affordable Housing Program (AHP) grants in the first round of the 2008 competition. The AHP grants will generate 4,510 affordable housing units in Arizona, California, Florida, Illinois, Nevada, Pennsylvania, Texas, and Washington. The Bank also announced today that it has allocated $7.8 million to help eligible lower-income Arizona, California, and Nevada residents become first-time homebuyers.

  • Fitch Rates Jacksonville, Florida's $68MM Capital Projects Revs Series 2008A 'AAA/F1+'

    Fitch has assigned a 'AAA/F1+' rating to the $68,355,000 Jacksonville, Florida (the city) Capital Projects Revenue Bonds, Series 2008A 'AAA/F1+' (the bonds). The rating is based on the rating of a direct-pay letter of credit (LOC) supporting the Bonds and the application of Fitch's joint probability methodology. The long-term 'AAA' rating assigned to the Bonds is based, jointly, on the underlying rating assigned to the Bonds (rated 'A+' by Fitch) and the support provided by an LOC issued by Bank of America, N.A. (the bank, currently rated 'AA/F1+' by Fitch) securing the bonds. The bank's long-term 'AA' rating is on Rating Watch Negative as of March 7, 2008 The short-term 'F1+' rating is based solely on the LOC.

  • Fitch Rates $68.355MM Jacksonville, Florida, Capital Projects Rev Bonds, Series 2008B 'AA/F1+'

    Fitch Ratings has assigned an 'AA/F1+' rating to the $68,355,000 City of Jacksonville, Florida, capital projects revenue bonds, series 2008B 'AA/F1+' (the bonds). The rating is based on the rating of a direct-pay letter of credit (LOC) supporting the bonds and the application of Fitch's joint probability methodology. The long-term 'AA' rating assigned to the bonds is based, jointly, on the underlying rating assigned to the bonds (rated 'A+' by Fitch) and the support provided by an LOC issued by SunTrust Bank (the bank, currently rated 'A+/F1+') securing the bonds. The bank's long-term 'AA' rating is on Rating Watch Negative as of March 7, 2008. The short-term 'F1+' rating is based solely on the LOC.

  • A.M. Best Affirms Negative Outlook on Ratings of Assurant, Inc. and Its Operating Subsidiaries

    A.M. Best Co. has affirmed the negative outlook on the financial strength ratings (FSR) and issuer credit ratings (ICR) of Assurant, Inc. (Assurant) (New York, NY) (NYSE: AIZ) and its operating insurance subsidiaries. Additionally, A.M. Best has affirmed the ratings on most life/health and property/casualty subsidiaries of Assurant. Concurrently, A.M. Best has downgraded the FSR to A- (Excellent) from A (Excellent) and ICRs to "a-" from "a" of American Bankers Life Assurance Company of Florida (ABLAC), Caribbean American Life Assurance Company (CALAC) and Reliable Lloyds Insurance Company (Reliable Lloyds). (See link below for a detailed list of the companies and ratings.)

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