Equal Housing Lender Archives - Bartle Doo Article Archives

the little bank Announces Repurchase of Common Stock

KINSTON, N.C.–(BUSINESS WIRE)– the little bank (OTCBB: LTLB) announced today that it has received regulatory approval to repurchase up to 56,485 shares, or approximately 2%, of the Company’s outstanding common stock. The Company currently intends to repurchase shares on an ongoing basis through open market purchases and block trades. Actual repurchases will be subject to the availability of stock , general market conditions, the trading price of stock, alternative uses for capital and the Company’s financial performance.

Vincent R. Jones, President and Chief Executive Officer noted, “We are extremely pleased to initiate our stock repurchase program at this time. We are fortunate that the little bank has weathered the financial storm quite well and maintained a strong capital position. Our Board does not believe that recent trading prices accurately reflect the value of the Company’s shares and that the deployment of a portion of capital in this program is prudent and in the best interest of our shareholders.”

the little bank, with total assets of approximately $306 million at December 31, 2012 is a North Carolina chartered financial institution which operates six offices serving individuals and small to mid-sized businesses in Eastern North Carolina. the little bank is a member of the FDIC and an Equal Housing Lender.

The little bank is headquartered in Kinston, North Carolina and currently serves the Lenoir, Wayne, Onslow, Pitt, and Craven county markets. The Bank prides itself on the special care with which it serves its customers. The Bank’s website is www.thelittlebank.com . The little bank stock can be found on the Over-the-Counter Electronic Bulletin Board trading under the symbol LTLB.

the little bank
Doyle M. Thigpen, 252-317-2804
Chief Financial Officer

KEYWORDS: United States North America North Carolina

INDUSTRY KEYWORDS:

The article the little bank Announces Repurchase of Common Stock originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

By Business Wirevia The Motley Fool

Filed under: Investing

Parent Company of Minnesota Bank & Trust Recognized as a Forbes Best Bank in America for 2013

EDINA, Minn.–(BUSINESS WIRE)– Minnesota Bank & Trust, through its parent company, Heartland Financial USA, Inc. (NAS: HTLF) , has been named a “Forbes Best Bank 2013.”

In its annual review of the largest publicly traded banks and thrifts, Forbes ranked Heartland 39^th among a nationwide group of 100 leading banking organizations with assets ranging from $4.5 billion to over $2 trillion.

“We are proud to be named among the best banks in America for 2013,” said Kate Kelly, President and CEO of Minnesota Bank & Trust. “As community banks, what sets us apart is our strong commitment to our customers, combined with access to ‘big-bank’ products and services as part of Heartland. The Forbes ranking underscores the benefits of our unique structure—the strength and capabilities of a big bank, combined with the personal touch and local decision-making of a community bank.”

To compile the rankings, Forbes used data collected by SNL Financial through the third quarter of 2012 on the country’s largest publicly traded banks and thrifts. The data covered eight metrics of financial health: return on average equity; net interest margin; nonperforming loans (NPLs) as a percentage of loans; nonperforming assets as percentage of assets; reserves as a percentage of NPLs; two capital ratios (Tier 1 and risk-based); and leverage ratio. Forbes generated its ranking based on an average of the individual ranks of each metric.

“We attribute our strong performance to our loyal and satisfied customers, our disciplined financial management and our employees,” said Kelly.

In 2012, Heartland net income increased by 76 percent over 2011, with earnings per share growing by 122 percent. That strong shared success provides Minnesota Bank & Trust with an outstanding platform for continued growth.

About Minnesota Bank & Trust

Minnesota Bank & Trust, a subsidiary of Heartland Financial USA, Inc., (NAS: HTLF) , is a state chartered bank with more than $126 million in assets and located in Edina, MN. The bank specializes in business lending and deposit services, and provides a wide variety of personal credit, private client services and deposit services along with complete electronic banking programs. Minnesota Bank & Trust is a member of the FDIC and an Equal Housing Lender.
Visit www.mnbankandtrust.com for more information.

Bartle Doo Article Archives

Tag Archives: Equal Housing Lender

the little bank Announces Repurchase of Common Stock

Parent Company of Minnesota Bank & Trust Recognized as a Forbes Best Bank in America for 2013

Articles Archive