Northern States Financial Corp. (NSFC) 0.6300 $NSFC
NorStates Bank Announces Release From Consent Order
Marketwire - Wed Aug 13, 3:46PM CDT
Northern States Financial Corporation (OTCQB: NSFC) today announced that its subsidiary, NorStates Bank, has been released from its Consent Order with the Federal Deposit Insurance Corporation and the Illinois Department of Financial and Professional Regulation. This termination ends a period of over 4 years in which NorStates Bank was under an Order with its regulators.
Northern States Financial Corporation Reports Income After Recapitalization
Marketwire - Fri Aug 01, 1:21PM CDT
Northern States Financial Corporation (OTCQB: NSFC) today reported net income of $367,000 for the second quarter of 2014. Highlighting the quarter was a successful $25 million recapitalization of the Company, which was completed on April 30, 2014, through which the Company was able to retire its TARP obligations with the United States Department of the Treasury and to pay the deferred interest relating to its outstanding trust preferred securities. Consolidated income available to common stockholders of the Company for the three months ended June 30, 2014 totaled $16.1 million, or $0.18 per share based on 87,604,088 outstanding shares of the Company as of June 30, 2014. The amount of consolidated income available to common stockholders was due primarily to the Company's accounting for the recapitalization transaction, as well as earnings from the Company's wholly owned banking subsidiary, NorStates Bank. Stockholders' equity at June 30, 2014 was approximately $32 million, or $0.37 per share. The Company also continued to carry approximately $26 million in a valuation allowance on its deferred tax assets.
Northern States Financial Corporation to Deregister Common Stock With the SEC
Marketwire - Mon Apr 01, 5:01PM CDT
Northern States Financial Corporation (OTCQB: NSFC) (the "Company"
announced today that on March 28, 2013, the Company filed a Form 15 with the Securities and Exchange Commission (the "SEC" to deregister the Company's common stock and suspend its reporting obligations under the Securities Exchange Act of 1934, as amended. The Company is eligible to file Form 15 because its common stock is currently held of record by less than 1,200 persons. The Company expects the deregistration to become effective within 90 days of filing with the SEC. Upon the filing of the Form 15, the Company's obligation to file reports with the SEC, including annual reports on Form 10-K, quarterly reports on Form 10-Q and periodic reports on Form 8-K, is immediately suspended.
Northern States Financial Corporation Appoints P. David Kuhl to Board of Directors
Marketwire - Fri Dec 21, 3:01PM CST
Northern States Financial Corporation (OTCQB: NSFC), holding company for NorStates Bank, a FDIC-insured financial institution, today announced that P. David Kuhl has been appointed as a director of the Company to serve until the next annual meeting of stockholders. The addition of Mr. Kuhl to the Board of Directors of the Company increases the number of directors to ten members. Mr. Kuhl will also serve as a director of NorStates Bank.
NorStates Bank Announces Release From Consent Order
Marketwire - Wed Aug 13, 3:46PM CDT
Northern States Financial Corporation (OTCQB: NSFC) today announced that its subsidiary, NorStates Bank, has been released from its Consent Order with the Federal Deposit Insurance Corporation and the Illinois Department of Financial and Professional Regulation. This termination ends a period of over 4 years in which NorStates Bank was under an Order with its regulators.
Northern States Financial Corporation Reports Income After Recapitalization
Marketwire - Fri Aug 01, 1:21PM CDT
Northern States Financial Corporation (OTCQB: NSFC) today reported net income of $367,000 for the second quarter of 2014. Highlighting the quarter was a successful $25 million recapitalization of the Company, which was completed on April 30, 2014, through which the Company was able to retire its TARP obligations with the United States Department of the Treasury and to pay the deferred interest relating to its outstanding trust preferred securities. Consolidated income available to common stockholders of the Company for the three months ended June 30, 2014 totaled $16.1 million, or $0.18 per share based on 87,604,088 outstanding shares of the Company as of June 30, 2014. The amount of consolidated income available to common stockholders was due primarily to the Company's accounting for the recapitalization transaction, as well as earnings from the Company's wholly owned banking subsidiary, NorStates Bank. Stockholders' equity at June 30, 2014 was approximately $32 million, or $0.37 per share. The Company also continued to carry approximately $26 million in a valuation allowance on its deferred tax assets.
Northern States Financial Corporation to Deregister Common Stock With the SEC
Marketwire - Mon Apr 01, 5:01PM CDT
Northern States Financial Corporation (OTCQB: NSFC) (the "Company"
announced today that on March 28, 2013, the Company filed a Form 15 with the Securities and Exchange Commission (the "SEC" to deregister the Company's common stock and suspend its reporting obligations under the Securities Exchange Act of 1934, as amended. The Company is eligible to file Form 15 because its common stock is currently held of record by less than 1,200 persons. The Company expects the deregistration to become effective within 90 days of filing with the SEC. Upon the filing of the Form 15, the Company's obligation to file reports with the SEC, including annual reports on Form 10-K, quarterly reports on Form 10-Q and periodic reports on Form 8-K, is immediately suspended. Northern States Financial Corporation Appoints P. David Kuhl to Board of Directors
Marketwire - Fri Dec 21, 3:01PM CST
Northern States Financial Corporation (OTCQB: NSFC), holding company for NorStates Bank, a FDIC-insured financial institution, today announced that P. David Kuhl has been appointed as a director of the Company to serve until the next annual meeting of stockholders. The addition of Mr. Kuhl to the Board of Directors of the Company increases the number of directors to ten members. Mr. Kuhl will also serve as a director of NorStates Bank.
