Foundation Bancorp (FDNB) 12.2600 $FDNB
Pacific Continental Corporation Announces Plan to Acquire Foundation Bancorp, Inc.
PR Newswire - Tue Apr 26, 6:01PM CDT
Pacific Continental Corporation (NASDAQ: PCBK) (the "Company"
, the holding company of Pacific Continental Bank, and Foundation Bancorp, Inc. (OTCPink: FDNB) ("Foundation", the holding company of Foundation Bank, announced the signing of an agreement and plan of merger pursuant to which Foundation shall be merged with and into the Company. Foundation is headquartered in downtown Bellevue, Washington and had $422.4 million in total assets, $299.3 million in gross loans and $367.5 million in total deposits as of March 31, 2016.
PCBK: 16.77 (+0.18)
Foundation Bancorp Earnings More Than Doubled to $743,000 in First Quarter 2016, from First Quarter 2015
GlobeNewswire - Wed Apr 20, 8:00AM CDT
Foundation Bancorp, Inc. (OTCPink:FDNB), (Foundation or Company), the holding company for Foundation Bank, today reported earnings of $743,000 in the first quarter of 2016, an increase of 122% compared to $334,000 in the first quarter a year ago. "Our strong first quarter profits and improved net interest margin are a direct result of the actions we implemented at the end of 2015 to reduce non-performing assets and position the Bank for improved profitability," said Randy Cloes, CFO. "At the end of the fourth quarter we took significant charge offs and write downs related to the sale and disposal of foreclosed assets. These actions reduced our non-performing assets by 66% and provided meaningful cost savings from reduced legal fees. These transactions improved our profitability in the current quarter."
Foundation Bancorp Reports Fourth Quarter 2015 Results; Announces Significant OREO Sales
GlobeNewswire - Thu Jan 28, 3:00PM CST
Foundation Bancorp, Inc. (OTCPink:FDNB), (Foundation or Company), the holding company for Foundation Bank, today reported that is has made significant reductions to its Other Real Estate Owned ("OREO" and Other Property Owned ("OPO" portfolios through foreclosed asset sales and write-downs in the fourth quarter of 2015. Non-performing loans are now at the lowest levels since 2009.
Foundation Bancorp Reports Third Quarter 2015 Results
GlobeNewswire - Fri Oct 30, 8:00AM CDT
Foundation Bancorp, Inc. (OTCPink:FDNB) (Foundation or Company), the holding company for Foundation Bank, today reported that it earned $23,000 in the third quarter, compared to $304,000 in the third quarter a year ago. In the preceding quarter, Foundation lost $1.5 million, following a $3.0 million charge off related to the discovery of loan fraud. In the first nine months of 2015, Foundation reported a net loss of $1.1 million compared to net income of $1.2 million in the first nine months of 2014.
Foundation Bank Reports Management Change
GlobeNewswire - Tue Oct 20, 10:13AM CDT
Foundation Bank, subsidiary of Foundation Bancorp, Inc. (OTCPink:FDNB), today announced that Chief Executive Officer Diane Dewbrey has informed the Board of Directors that she will be resigning to pursue other interests. Chairman of Foundation Bank, Lou Mills announced that CEO Diane Dewbrey will be leaving the bank effective October 19, 2015.
Foundation Bancorp Reports Second Quarter 2015 Results
GlobeNewswire - Fri Aug 07, 8:00AM CDT
Foundation Bancorp, Inc. (OTCPink:FDNB), the holding company for Foundation Bank, today reported that following a $3.0 million total increase to its provision for loan losses, it lost $1.5 million in the second quarter of 2015, compared to net income of $351,000 in the second quarter a year ago. In the first six months of 2015, Foundation reported a net loss of $1.1 million compared to net income of $888,000 in the first six months of 2014.
Foundation Bancorp Announces Increase to Loan Loss Provision Following Discovery of Fraud
GlobeNewswire - Mon Aug 03, 8:00AM CDT
Foundation Bancorp, Inc. ("Foundation" (OTCQB:FDNB), the holding company for Foundation Bank ("Bank", today announced that its second quarter results will include a $2.9 million increase in its provision for loan losses in response to the discovery of fraudulent activity by one of its Washington-based customers. As a result, the net loss for the first half of 2015 is expected to be in the range of $0.25 to $0.30 per diluted share, compared to earnings of $0.25 per diluted share in the first half of 2014.
Foundation Bancorp Reports Operational Profits of $334,000 in First Quarter, Non-Interest Bearing Demand Deposits Increase 22%, Core Deposits Represent 99% of Total Deposits
GlobeNewswire - Mon May 04, 3:00PM CDT
Foundation Bancorp, Inc. (OTCQB:FDNB), the holding company for Foundation Bank, today reported that it earned $334,000 in the first quarter of 2015 compared to $536,000 in the first quarter a year ago. Net income available to common shareholders after dividends for preferred stock was $320,000. Earnings were $0.06 per diluted share in the first quarter of 2015 compared to $0.15 per diluted share, in the first quarter of 2014. Book value per share was $9.61 at March 31, 2015, compared to $9.50 per share a year ago.
Foundation Bancorp Announces Completion of $15 Million Private Placement of Convertible Preferred Equity
GlobeNewswire - Fri Mar 27, 1:19PM CDT
Foundation Bancorp, Inc. (OTCQB:FDNB), the holding company for Foundation Bank ("Bank", today announced that it had completed the sale of $15 million of the Company's convertible preferred stock in a private placement. The shares of preferred stock are convertible into shares of the Company's common stock at a price of $10.00 per share, subject to certain agreed upon adjustments, and, therefore, are not dilutive to existing shareholders. The Company expects to use the proceeds from the capital raise for general corporate purposes, including growth, expansion and supporting the capital needs of the Bank.
Foundation Bancorp Earns $304,000, or $0.09 per Diluted Share, in Third Quarter 2014, Non-Interest Bearing Demand Deposits Increase 10%, Core Deposits Represent 96% of Total Deposits
GlobeNewswire - Tue Oct 21, 3:00PM CDT
Foundation Bancorp, Inc. (OTCQB:FDNB), the holding company for Foundation Bank, today reported that it earned $304,000, or $0.09 per diluted share in the third quarter of 2014, compared to $363,000, or $0.10 per diluted share in the third quarter of 2013. In the first nine months of 2014, Foundation earned $1.2 million, or $0.34 per diluted share compared to $1.9 million, or $0.53 per diluted share in the first nine months of 2013. Earnings in the third quarter and first nine months of 2014 included a provision for income taxes which was not required previously and reduced net earnings.
Jocelyn Lane Joins Foundation Bank as Executive Vice President/Market President
GlobeNewswire - Wed Sep 24, 8:00AM CDT
Foundation Bancorp, Inc. (OTCBB:FDNB), the holding company for Foundation Bank, today announced that Jocelyn Lane is now Executive Vice President and Market President, where she will lead marketing and sales for all commercial and private banking efforts. Lane will be directly responsible for developing and implementing a business strategy that emphasizes full relationship business development; recruiting and managing the sales and business team; and ongoing portfolio management of a diverse portfolio of Commercial & Industrial, Commercial Real Estate, SBA and other types of loans.
Pacific Continental Corporation Announces Plan to Acquire Foundation Bancorp, Inc.
PR Newswire - Tue Apr 26, 6:01PM CDT
Pacific Continental Corporation (NASDAQ: PCBK) (the "Company"
, the holding company of Pacific Continental Bank, and Foundation Bancorp, Inc. (OTCPink: FDNB) ("Foundation", the holding company of Foundation Bank, announced the signing of an agreement and plan of merger pursuant to which Foundation shall be merged with and into the Company. Foundation is headquartered in downtown Bellevue, Washington and had $422.4 million in total assets, $299.3 million in gross loans and $367.5 million in total deposits as of March 31, 2016. PCBK: 16.77 (+0.18)
Foundation Bancorp Earnings More Than Doubled to $743,000 in First Quarter 2016, from First Quarter 2015
GlobeNewswire - Wed Apr 20, 8:00AM CDT
Foundation Bancorp, Inc. (OTCPink:FDNB), (Foundation or Company), the holding company for Foundation Bank, today reported earnings of $743,000 in the first quarter of 2016, an increase of 122% compared to $334,000 in the first quarter a year ago. "Our strong first quarter profits and improved net interest margin are a direct result of the actions we implemented at the end of 2015 to reduce non-performing assets and position the Bank for improved profitability," said Randy Cloes, CFO. "At the end of the fourth quarter we took significant charge offs and write downs related to the sale and disposal of foreclosed assets. These actions reduced our non-performing assets by 66% and provided meaningful cost savings from reduced legal fees. These transactions improved our profitability in the current quarter."
Foundation Bancorp Reports Fourth Quarter 2015 Results; Announces Significant OREO Sales
GlobeNewswire - Thu Jan 28, 3:00PM CST
Foundation Bancorp, Inc. (OTCPink:FDNB), (Foundation or Company), the holding company for Foundation Bank, today reported that is has made significant reductions to its Other Real Estate Owned ("OREO"
and Other Property Owned ("OPO" portfolios through foreclosed asset sales and write-downs in the fourth quarter of 2015. Non-performing loans are now at the lowest levels since 2009. Foundation Bancorp Reports Third Quarter 2015 Results
GlobeNewswire - Fri Oct 30, 8:00AM CDT
Foundation Bancorp, Inc. (OTCPink:FDNB) (Foundation or Company), the holding company for Foundation Bank, today reported that it earned $23,000 in the third quarter, compared to $304,000 in the third quarter a year ago. In the preceding quarter, Foundation lost $1.5 million, following a $3.0 million charge off related to the discovery of loan fraud. In the first nine months of 2015, Foundation reported a net loss of $1.1 million compared to net income of $1.2 million in the first nine months of 2014.
Foundation Bank Reports Management Change
GlobeNewswire - Tue Oct 20, 10:13AM CDT
Foundation Bank, subsidiary of Foundation Bancorp, Inc. (OTCPink:FDNB), today announced that Chief Executive Officer Diane Dewbrey has informed the Board of Directors that she will be resigning to pursue other interests. Chairman of Foundation Bank, Lou Mills announced that CEO Diane Dewbrey will be leaving the bank effective October 19, 2015.
Foundation Bancorp Reports Second Quarter 2015 Results
GlobeNewswire - Fri Aug 07, 8:00AM CDT
Foundation Bancorp, Inc. (OTCPink:FDNB), the holding company for Foundation Bank, today reported that following a $3.0 million total increase to its provision for loan losses, it lost $1.5 million in the second quarter of 2015, compared to net income of $351,000 in the second quarter a year ago. In the first six months of 2015, Foundation reported a net loss of $1.1 million compared to net income of $888,000 in the first six months of 2014.
Foundation Bancorp Announces Increase to Loan Loss Provision Following Discovery of Fraud
GlobeNewswire - Mon Aug 03, 8:00AM CDT
Foundation Bancorp, Inc. ("Foundation"
(OTCQB:FDNB), the holding company for Foundation Bank ("Bank", today announced that its second quarter results will include a $2.9 million increase in its provision for loan losses in response to the discovery of fraudulent activity by one of its Washington-based customers. As a result, the net loss for the first half of 2015 is expected to be in the range of $0.25 to $0.30 per diluted share, compared to earnings of $0.25 per diluted share in the first half of 2014. Foundation Bancorp Reports Operational Profits of $334,000 in First Quarter, Non-Interest Bearing Demand Deposits Increase 22%, Core Deposits Represent 99% of Total Deposits
GlobeNewswire - Mon May 04, 3:00PM CDT
Foundation Bancorp, Inc. (OTCQB:FDNB), the holding company for Foundation Bank, today reported that it earned $334,000 in the first quarter of 2015 compared to $536,000 in the first quarter a year ago. Net income available to common shareholders after dividends for preferred stock was $320,000. Earnings were $0.06 per diluted share in the first quarter of 2015 compared to $0.15 per diluted share, in the first quarter of 2014. Book value per share was $9.61 at March 31, 2015, compared to $9.50 per share a year ago.
Foundation Bancorp Announces Completion of $15 Million Private Placement of Convertible Preferred Equity
GlobeNewswire - Fri Mar 27, 1:19PM CDT
Foundation Bancorp, Inc. (OTCQB:FDNB), the holding company for Foundation Bank ("Bank"
, today announced that it had completed the sale of $15 million of the Company's convertible preferred stock in a private placement. The shares of preferred stock are convertible into shares of the Company's common stock at a price of $10.00 per share, subject to certain agreed upon adjustments, and, therefore, are not dilutive to existing shareholders. The Company expects to use the proceeds from the capital raise for general corporate purposes, including growth, expansion and supporting the capital needs of the Bank. Foundation Bancorp Earns $304,000, or $0.09 per Diluted Share, in Third Quarter 2014, Non-Interest Bearing Demand Deposits Increase 10%, Core Deposits Represent 96% of Total Deposits
GlobeNewswire - Tue Oct 21, 3:00PM CDT
Foundation Bancorp, Inc. (OTCQB:FDNB), the holding company for Foundation Bank, today reported that it earned $304,000, or $0.09 per diluted share in the third quarter of 2014, compared to $363,000, or $0.10 per diluted share in the third quarter of 2013. In the first nine months of 2014, Foundation earned $1.2 million, or $0.34 per diluted share compared to $1.9 million, or $0.53 per diluted share in the first nine months of 2013. Earnings in the third quarter and first nine months of 2014 included a provision for income taxes which was not required previously and reduced net earnings.
Jocelyn Lane Joins Foundation Bank as Executive Vice President/Market President
GlobeNewswire - Wed Sep 24, 8:00AM CDT
Foundation Bancorp, Inc. (OTCBB:FDNB), the holding company for Foundation Bank, today announced that Jocelyn Lane is now Executive Vice President and Market President, where she will lead marketing and sales for all commercial and private banking efforts. Lane will be directly responsible for developing and implementing a business strategy that emphasizes full relationship business development; recruiting and managing the sales and business team; and ongoing portfolio management of a diverse portfolio of Commercial & Industrial, Commercial Real Estate, SBA and other types of loans.
