Camco Financial Announces Termination of Consent Order
01 Novembre 2013 - 2:21PM
Camco Financial Corporation (Nasdaq:CAFI), the bank holding company
for Advantage Bank (Advantage), today announced the termination,
effective immediately, of the Consent Order dated February 9, 2012,
issued by the Federal Deposit Insurance Corporation (FDIC) and the
State of Ohio's Department of Commerce, Division of Financial
Institutions (Ohio Division).
James E. Huston, President and CEO, said, "We are extremely
pleased to have the Consent Order terminated following four years
of hard work to restore Advantage Bank to a sound financial
position while also pursuing our long-term growth
strategy. The significant progress that has been achieved
during this period reflects the strong support we have received
from employees, customers and shareholders. We can now move
forward with increased confidence."
Advantage Bank has an understanding with the FDIC and Ohio
Division that it will submit certain plans and reports to the FDIC
and the Ohio Division, to seek the FDIC's and Ohio Division's prior
consent before issuing any dividends to CAFI, and to maintain its
Tier 1 Leverage Capital Ratio at a minimum of 8.50% and its Total
Risk Based Capital Ratio at a minimum of 12.00%. At September
30, 2013, Advantage's Tier 1 Leverage Capital Ratio was 8.88% and
its Total Risk Based Capital Ratio was 12.91%.
About Camco Financial Corporation: Camco
Financial Corporation, holding company for Advantage Bank, is a
multi-state bank holding company headquartered in Cambridge, Ohio.
Advantage Bank offers community banking that includes commercial,
business and consumer financial services and internet banking from
22 offices. Additional information about Camco Financial may be
found on the Company's web sites:
www.camcofinancial.com or
www.advantagebank.com.
The words or phrases "will likely result," "are expected to,"
"will continue," "is anticipated," "estimate," "project" or similar
expressions are intended to identify "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. Such statements are subject to certain risks and
uncertainties including changes in economic conditions in the
Company's market area, changes in policies by regulatory agencies,
fluctuations in interest rates, demands for loans in the Company's
market area and competition, that could cause actual results to
differ materially from historical earnings and those presently
anticipated or projected. The Company wishes to caution
readers not to place undue reliance on any such forward-looking
statements, which speak only as of the date made. The Company does
not undertake, and specifically disclaims any obligation, to
publicly release the result of any revisions that may be made to
any forward-looking statements to reflect events or circumstances
after the date of such statements or to reflect the occurrence of
anticipated or unanticipated events.
CONTACT: James E. Huston, CEO
John E. Kirksey, CFO
Phone: 740-435-2020
Grafico Azioni Consumer Automotive Fina... (PK) (USOTC:CAFI)
Storico
Da Apr 2024 a Mag 2024
Grafico Azioni Consumer Automotive Fina... (PK) (USOTC:CAFI)
Storico
Da Mag 2023 a Mag 2024