“Pacific Valley Bank Announces $2.0 Million Private Placement Offering ... - PR Inside” plus 4 more |
- Pacific Valley Bank Announces $2.0 Million Private Placement Offering ... - PR Inside
- Neighbors trade services, bond through 'time banking' - Detroit News
- Finance - Business Life Lebanon
- Bangladesh To Take Hardline Approach Against Banks For Rationalizing ... - All Headline News
- Dubai Bank launches utility payment service - AME Info
| Pacific Valley Bank Announces $2.0 Million Private Placement Offering ... - PR Inside Posted: 23 Aug 2009 04:51 AM PDT 2009-08-23 13:50:06 - SALINAS, CA -- (Marketwire) -- 08/21/09 -- Pacific Valley Bank (OTCBB: PVBK) announces that its Board of Directors today authorized a private placement offering ("Offering") for up to $2.0 million, with an over subscription option equal to 20% over the offering maximum, of the Bank's shares of common stock (the "Common Stock") to accredited investors, in order to increase the Bank's capital which will (i) allow for growth, (ii) enhance the Bank's capital position, (iii) increase the Bank's lending limits, and (iv) may be used for other general corporate purposes. The Offering is subject to receipt of all necessary regulatory approvals, including the issuance of a stock permit from the California Department of Financial Institutions. Pacific Valley Bank expects to commence the Offering before the end of the third quarter 2009.
An offering price of $7.00 per share has been independently established by the Board of Directors, who took into consideration several factors, including the book value of the Bank's Common Stock, the Bank's results of operations, analysis of historical growth and growth potential of the Bank in the Bank's market area, assessment of the Bank's management, information received from consultants to the Bank, its financial condition and stock prices of peer banks.
The Offering is for a maximum of up to 285,715 shares, with an over subscription option equal to 20% over the maximum number of shares (the "Shares") of the Common Stock, no par value.
About Pacific Valley Bank
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| Neighbors trade services, bond through 'time banking' - Detroit News Posted: 23 Aug 2009 05:41 AM PDT Catherine Jun / The Detroit NewsThe idea is simple: You lend your neighbor a hand -- maybe mow his lawn or drive him to the supermarket -- and in return, another neighbor patches your roof or walks your dog. This arrangement -- part collective bartering, part pay-it-forward -- is called "time banking," and at least two Michigan communities have put the idea into action. And more neighborhoods are getting on board as families and seniors find they need to help each other in this tough economy. At a time when even struggling theater groups and museums are bartering for free services, volunteerism has become a tradable commodity. Michigan is one of 46 states where neighborhoods have established such neighbor-to-labor networks, according to Time Banks USA. Advertisement "I think we're living in a different world and we need to operate in new ways," said Kim Hodge, who founded the Lathrup Village Time Bank a year and a half ago. From meals to swim lessonsMore than 100 neighbors, from ages 8 to 89, have joined the time bank in this small Oakland County community. To participate, each pays a nominal membership fee and posts their unique skills on a secure Web site. Once they perform a deed, they "bank" the hours, and can later redeem them by selecting services others have posted. Recently, neighbors helped each other in the following ways: Maddie Blondin, a 14-year-old high school swimmer, offered private swim lessons. Afshan Siddiqi, 42, picked up the lessons for her 6-year-old daughter. Siddiqi posted an offer to make an Indian meal. Ian Ferguson selected the meal, paying $5 for the ingredients, to feed his busy family. "I get a sense of satisfaction that I'm contributing to something larger that makes us closer," said Ferguson, 45. Ferguson, in turn, spends 15 minutes a week taking out the trash for Margaret Whitehead, 79, who lives down the street and has severe arthritis. Whitehead, who can drive, said she plans to post rides to the local supermarket. "I can run errands for people," she said. A wish to give backGrowing local interest is mirroring a national trend. This year, Time Banks USA has received 120 requests for time bank starter kits, triple the demand compared to the same period last year, said Jen Moore, an associate at Time Banks USA, a Washington-based nonprofit. "We're certainly seeing an acceleration of interest," Moore said. Such a program turns traditional volunteerism on its head, changing what is often a one-way service into a two-way street, and transforming recipients into givers, givers into recipients. Such an arrangement can foster closer communities and help seniors -- who have growing needs as their numbers expand in most communities -- feel more integral in a neighborhood, said Natalie Zappella, program associate with the Community Foundation for Southeastern Michigan. That's one reason why the nonprofit has taken up the charge to spread this idea to other communities. "There's a pride issue. People don't want to be needy. They want to give back, too," Zappella said. With Hodge's help, the foundation has held informational sessions to assist communities that want to establish their own time banks. The Rev. Barry Randolph, of Church of the Messiah, joined a planning committee of neighbors now investigating ways time banking can work in the near east section of Detroit. The church runs a food pantry for seniors and a free summer camp for children of low-income families, and has been seeking ways to draw seniors out of isolation. He hopes to launch a time bank that allows seniors to get help they need and permits them to "bank" service hours by walking area children to school or offering to do cooking or gardening. "Some seniors, they don't feel like they have anything to offer, but they do," Randolph said. A six-year-old time bank in Ann Arbor gives its members, many disabled, countless ways to help one another. More than 200 people are part of the Washtenaw Talent Exchange, a free network run out of the Ann Arbor Center for Independent Living. Kay Zajac, 27, has cerebral palsy and uses a walker and electric scooter to get around. She recently contacted the exchange and enlisted a volunteer who helped her clear her backyard, plant lilies and trim overgrown trees. "Our garden has kind of gone to heck," Zajac said. She in turn gave back by mentoring a 25-year-old who is cognitively impaired from multiple seizures and hence has difficulty making friends. Zajac took her out to dinners and helped her fill out job applications. "We got to do things she wouldn't normally get to do," Zajac said. "I learned a lot of stuff about myself." cjun@detnews.com (313) 222-2019  This posting includes an audio/video/photo media file: Download Now |
| Finance - Business Life Lebanon Posted: 23 Aug 2009 05:34 AM PDT
Oman Arab Bank has an active presence in the Sultanate of Oman ever since it was established on 1st October, 1984 as a joint closed stock company. The bank started operations after acquiring the branches of Arab Bank Limited, Jordan that existed in the Sultanate since 1973. In 1992, Oman Arab Bank expanded its operations by acquiring all branches of Omani European Bank and then merged together in 1994. Oman Arab Bank's principal shareholders are Oman International Development and Investment Company (OMINVEST) with 51% share and Arab Bank Limited with a 49% share holding.
The bank also actively contributes to the major development in industrial and infrastructure projects in the Sultanate of Oman and is an active provider of both retail and investment banking products and services. Financing Projects and Providing Services The bank has kept its position as a leader in financing projects in various sectors such as infrastructure, industrial and petrochemical. It has supported many companies such as Oman Shipping Company's vessel financing, and the expansion of Oman Cement Company. It has also provided banking services for several companies in different projects such as Wastewater Treatment Station Project in Seeb, Duqum Port project (phase 2) and Dry Dock, Power and Water Desalination Station in Barka II, in additional to various infrastructure, industrial, and services projects. Main Financial Indicators The bank continue to achieved positive results such as a 26% growth in profits (RO 24.6 million as compared to RO 19.4 million), 39% growth in net loans and advances (RO 539 million compared to RO 389 million), and 15% growth in customer deposits (RO 611 million as compared to RO 533 million). Total Shareholders' Funds as at 31st December, 2008 was RO 110 million as compared to RO 88 million in the previous year. Return on Total Assets was 3.47%. As a result of the prudent lending policy, the non-performing loans reduced to 1.6% out of the total loans and the provision coverage increased to 169% of the non-performing loans. Branches and Offices Throughout the current year and last year, the bank has opened new branches in Shatti Al Qurum, Al Tarif in Sohar, Bowshar, Mabelah, Sumail, Nizwa Hospital and Quriyat. The bank has a total of 53 branches and offices across the Sultanate. Investment Banking Given the financial crisis which resulted in the bankruptcy of investment companies and banks globally, our Investment Management Group is still in the forefront in terms of developing investment products and services. The investment group did not show negative effects, but instead of that it gained a higher share in the local trade and achieved 4th position in Muscat Securities Market in transactions by end of April 2009. At the beginning of 2009, it has been agreed to establish the Investment stabilization Fund with a capital of RO 150 million where the government contributed 60%, while 40% was distributed on pension funds and the private sector represented by banks, investment companies, and securities companies. Our investment group (the investment banking arm of Oman Arab Bank) has been assigned as an investment manager to manage the fund's assets in partnership with another local bank. During the first half of this year, the bank will announce establishing Oman Al-Arabi Fund that will be completely managed by us. The fund will be investing 75% in MSM, and 25% in the GCC markets. Marketing and Developing Banking Services The bank is always striving to provide the best banking services and products for its clients to meet their financial needs. Some of the new initiatives launched by the bank are Markabati Auto Loan, Al Himaya Car Insurance, and Al Mustaqbal Education Loan. In addition, to the latest services launched by the bank such as Tawasul SMS Banking and Internet Banking. Omanisation The bank's management gives prime importance to Omanisation as it focuses on developing the human resources. This has led the bank to be the first bank to achieve the required Omanisation percentage of 90% in early 1996. The Omanisation percentage in the bank is now 92.19%. E-Banking Services Oman Arab Bank has worked relentlessly to cope with the rapid development in the e-services field. The bank has also become a leader in providing high quality services through e-channels that enable the client to get the services without time or place constraints. One can clearly observe the rapid progress of Oman Arab Bank in the e-services field in public and private projects across Oman. It demonstrates the bank's commitment in developing its relationship with different sectors in the e-services field and e-payment.  This posting includes an audio/video/photo media file: Download Now |
| Bangladesh To Take Hardline Approach Against Banks For Rationalizing ... - All Headline News Posted: 23 Aug 2009 06:38 AM PDT 
August 23, 2009 9:40 a.m. EST Dhaka, Bangladesh (AHN) - The central bank of Bangladesh is likely to take a hardline approach against the commercial banks that are charging higher commissions and fees for their services, officials said on Saturday. The Bangladesh Bank (BB), the country's central bank, will now show rigidity in some of its activities including issuance of license for authorized dealer (AD) branch, generally known as foreign exchange branch, and approval for opening of new branches. The indirect intervention may take place after receiving opinions from the Association of Bankers, Bangladesh (ABB) by August 27 about fixation of commissions and fees, recommended by the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), the central bank officials added. "We'll take such measures against the banks that do not follow our advice relating to charges properly," a BB senior official told AHN Media in Dhaka, preferring anonymity. The central bank may issue a fresh guideline on the commissions and charges regulation for some specific services, provided by the banks to their clients, taking into account the recommendations of trade bodies and the ABB, the BB official added. The ABB is now preparing a statement mentioning its latest position on the issue within the stipulated time, set by the BB earlier. "We'll send reply to the central bank clarifying our position on the issue by August 27," ABB Chairman K Mahmood Sattar told AHN without elaborating. The central bank of Bangladesh is now reviewing the latest position of service charges and commissions following allegation made by different trade bodies to the BB governor recently, according to BB officials. "The commissions and service charges will be brought down at a minimal level to facilitate the country's business activities," Acting President of the FBCCI Abul Kashem Ahmed told AHN, adding that the FBCCI, the country's apex trade body, has already had talks about reasonable charges and commissions. The BB previously issued a guideline on the basis of recommendations from a high-powered committee, the central bank official said, adding that the BB thinks that there is more scope to rationalize the rates of commissions and charges.
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| Dubai Bank launches utility payment service - AME Info Posted: 22 Aug 2009 10:46 PM PDT Disclaimer: The information comprised in this section is not, nor is it held out to be, a solicitation of any person to take any form of investment decision. The content of the AME Info Web site does not constitute advice or a recommendation by AME Info FZ LLC / Emap Limited and should not be relied upon in making (or refraining from making) any decision relating to investments or any other matter. You should consult your own independent financial adviser and obtain professional advice before exercising any investment decisions or choices based on information featured in this AME Info Web site. AME Info FZ LLC / Emap Limited can not be held liable or responsible in any way for any opinions, suggestions, recommendations or comments made by any of the contributors to the various columns on the AME Info Web site nor do opinions of contributors necessarily reflect those of AME Info FZ LLC / Emap Limited. In no event shall AME Info FZ LLC / Emap Limited be liable for any damages whatsoever, including, without limitation, direct, special, indirect, consequential, or incidental damages, or damages for lost profits, loss of revenue, or loss of use, arising out of or related to the AME Info Web site or the information contained in it, whether such damages arise in contract, negligence, tort, under statute, in equity, at law or otherwise. |
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