Merchants Bancshares (MBVT) 31.50 $MBVT
Anita Bourgeois is promoted to SVP and Senior Director, Deposit Growth and Profitability at Merchants Bank
PR Newswire - Fri May 20, 4:32PM CDT
Geoffrey Hesslink, President and Chief Executive Officer for Merchants Bank, is pleased to announce the promotion of Anita Bourgeois to Senior Vice President and Senior Director, Deposit Growth and Profitability.
MBVT: 31.50 (+0.54)
Merchants Bank Supports Spectrum Youth and Family Services with $5,000 Donation
PR Newswire - Tue May 03, 7:30AM CDT
Merchants Bank is proud to support Spectrum Youth and Family Services ("Spectrum"
with a $5,000 donation to the Basic Needs and Stable Homes programs. Funding will help vulnerable youth with critical support including meals, material needs, shelter, housing and improved connections to community support services.
MBVT: 31.50 (+0.54)
Merchant Bancshares posts 1Q profit
Automated Insights - Thu Apr 28, 3:45PM CDT
SOUTH BURLINGTON, Vt. (AP) _ Merchants Bancshares Inc. (MBVT) on Thursday reported first-quarter profit of $3.5 million.
MBVT: 31.50 (+0.54)
Merchants Bancshares, Inc. Announces Dividend and First Quarter 2016 Results
PR Newswire - Thu Apr 28, 3:01PM CDT
Merchants Bancshares, Inc. (NASDAQ: MBVT), the parent company of Merchants Bank, today announced net income of $3.49 million, or $0.51 per basic share and $0.50 per diluted share for the first quarter of 2016. Excluding merger costs and severance expense, net of tax, the Company's core net income was $3.82 million or $0.56 per basic share and $0.55 per diluted share. This compares to core net income of $3.94 million or $0.61 per basic and diluted share on a linked quarter basis.
MBVT: 31.50 (+0.54)
Merchants Bancshares, Inc. Announces First Quarter 2016 Earnings Release Date and Conference Call
PR Newswire - Mon Apr 04, 3:01PM CDT
Merchants Bancshares, Inc. (NASDAQ: MBVT), the parent company of Merchants Bank, announced today that it will report first quarter 2016 earnings at the close of business on Thursday, April 28, 2016.
MBVT: 31.50 (+0.54)
Merchants Bank Helps Raise Over $24,000 for Vermont CARES
PR Newswire - Thu Mar 17, 7:00AM CDT
On Saturday, March 5th with Merchants Bank as the presenting sponsor, Vermont CARES hosted the 30th Annual Live and Silent Auction. Merchants Bank gathered with supporters to celebrate the accomplishments of Vermont CARES. Attendance was at an all-time high, up over 30% as compared to past years. This year's event rose over $24,000 with all funds going directly to prevention programs and Vermont CARES new campaign "ON THE ROAD TO ZERO" -- to assist Vermont in becoming the first state to have zero new HIV infections by 2020.
MBVT: 31.50 (+0.54)
Merchants Bank and Employees Contribute Over $90,000 to United Way throughout Vermont
PR Newswire - Mon Mar 14, 12:29PM CDT
For decades Merchants Bank and Merchants Bank employees have been pledging to United Way throughout Vermont. This year, Merchants Bank continued its tradition of running a successful campaign, with individual employee pledges of $55,000 and a corporate pledge of $35,000. Merchants Bank employee pledges combined with the Merchants Bank donation, contributed to over $90,000 to United Way throughout Vermont.
MBVT: 31.50 (+0.54)
Merchants Bank WARMTH Challenge Grant Helped Raise Over $100,000 in the Month of December
PR Newswire - Wed Mar 09, 7:30AM CST
Merchants Bank partnered with WARMTH again this year to help prevent low-income Vermonters across the state from going without heat this winter. Merchants Bank matched dollar-for-dollar donations raised for WARMTH throughout the month of December. Coupled with the Merchants Bank match of $40,000, the Vermont community raised $107,000.
MBVT: 31.50 (+0.54)
Merchants Bancshares, Inc. Announces 2016 Annual Meeting Information
PR Newswire - Thu Mar 03, 3:01PM CST
Merchants Bancshares, Inc. (NASDAQ: MBVT), the parent company of Merchants Bank, today announced that its 2016 Annual Meeting will be held on Thursday, May 26, 2016 at 10:00 AM Eastern Time. Stockholders of record of the Company's Common Stock as of the close of business on March 28, 2016 are entitled to vote at the Annual Meeting. The meeting will be held at The Essex Resort and Spa, 70 Essex Way, Essex Junction, Vermont 05452.
MBVT: 31.50 (+0.54)
BUYINS.NET: SFNC, MBVT, LKFN, RJF, CVGI, Expected to Trade Higher After Bullish Insider Trading
M2 - Thu Jan 28, 8:45AM CST
BUYINS.NET / http://www.squeezetrigger.com is monitoring top insider trading patterns and these stocks are the most likely to trade Higher in the next 6 months. SIMMONS FIRST NATIONAL CORPORATION (NASDAQ:SFNC), Merchants Bancshares Inc (NASDAQ:MBVT), Lakeland Financial Corp (NASDAQ:LKFN), Raymond James Financial Inc (NYSE:RJF), Commercial Vehicle Group Inc (NASDAQ:CVGI) are all expected to go Higher as Buy signals have been generated by top insider trading patterns.
RJF: 53.98 (+1.34), MBVT: 31.50 (+0.54), SFNC: 48.11 (+1.54), CVGI: 5.55 (+0.35), LKFN: 48.42 (+1.28)
Merchants Bancshares reports Q4 2015 net income of USD2.3m
M2 - Wed Jan 27, 4:46AM CST
Merchants Bancshares, Inc. (NASDAQ: MBVT), the parent company of Merchants Bank, has reported net income of USD2.31 million, or USD0.36 per basic and diluted share for the fourth quarter of 2015, the company said. The fourth quarter of 2015 included USD1.6 million of merger-related expenses, net of tax, related to the acquisition of NUVO Bank & Trust Company, which closed on December 4, 2015, and retirement costs net of tax. Excluding these items, the company's core net income was USD3.94 million or USD0.61 per basic and diluted share. This compares to net income of USD2.50 million, or USD0.40 per basic and USD0.39 per diluted share, for the fourth quarter of 2014. As a result of the acquisition of NUVO, Merchants Bancshares added assets of USD165 million, loans of USD149 million and deposits of USD143 million. For the year ended December 31, 2015, net income totaled USD12.62 million, or USD1.98 per basic and diluted share, compared to net income of USD12.13 million, or USD1.92 per basic and USD1.91 per diluted share for the year ended December 31, 2014. The return on average assets was 0.49 percent and 0.71 percent for the three months and year ended December 31, 2015, respectively, compared to 0.59 percent and 0.73 percent for the same periods in 2014. The return on average equity was 6.73 percent and 9.69 percent for the three months and year ended December 31, 2015, respectively, compared to 7.95 percent and 9.84 percent for the same periods in 2014. The company's board of directors approved a dividend of USD0.28 per share, payable February 18, 2016, to stockholders of record as of February 4, 2016. Net interest income on a fully taxable basis was USD13.25 million for the three months ended December 31, 2015, compared to USD12.60 million for the quarter ending September 30, 2015, and USD12.02 million for the same period in 2014. The company recorded a zero provision for credit losses during the fourth quarters of 2015 and 2014. The year to date provision for credit losses totaled USD250 thousand compared to USD150 thousand for the twelve months ended December 31, 2014, reflecting the trend of solid credit quality. Noninterest income for the fourth quarter of 2015 was USD3.09 million, a decrease of USD362 thousand on a linked quarter basis and an increase of USD284 thousand from the fourth quarter of 2014. The decline on a linked quarter basis was attributable to non-recurring miscellaneous income recognized in the prior quarter. The increase from the fourth quarter of 2014 was due to higher seasonal volumes in debit card and overdraft fee income. Excluding merger-related, severance and retirement costs for 2015, and conversion and severance expenses for 2014, noninterest expense was USD10.9 million for the fourth quarter of 2015, an increase of USD805 thousand on a linked quarter basis and an increase of USD543 thousand from the fourth quarter of 2014. The primary drivers of the increases were incentive accruals.
MBVT: 31.50 (+0.54)
Merchants Bancshares declares slightly lower net income for Q4 2015 over Q4 2014
M2 - Fri Jan 22, 3:10AM CST
Merchants Bancshares Inc (NASDAQ:MBVT) reported on Thursday for the fourth quarter of 2015 a net income of USD2.31m or USD0.36 per basic and diluted share, slightly down from the net income of USD2.50m or USD0.39 per diluted share in the fourth quarter of 2014.
MBVT: 31.50 (+0.54)
Merchants Bancshares, Inc. Announces Dividend, Fourth Quarter and Year End 2015 Results
PR Newswire - Thu Jan 21, 3:01PM CST
Merchants Bancshares, Inc. (NASDAQ: MBVT), the parent company of Merchants Bank, today announced net income of $2.31 million, or $0.36 per basic and diluted share for the fourth quarter of 2015. The fourth quarter of 2015 included $1.6 million of merger-related expenses, net of tax, related to the acquisition of NUVO Bank & Trust Company, which closed on December 4, 2015, and retirement costs net of tax. Excluding these items, the Company's core net income was $3.94 million or $0.61 per basic and diluted share. This compares to net income of $2.50 million, or $0.40 per basic and $0.39 per diluted share, for the fourth quarter of 2014. For the year ended December 31, 2015, net income totaled $12.62 million, or $1.98 per basic and diluted share, compared to net income of $12.13 million, or $1.92 per basic and $1.91 per diluted share for the year ended December 31, 2014.
MBVT: 31.50 (+0.54)
Merchants Bancshares, Inc. Announces Fourth Quarter and Full Year 2015 Earnings Release Date and Conference Call
PR Newswire - Fri Jan 08, 3:30PM CST
Merchants Bancshares, Inc. (NASDAQ: MBVT), the parent company of Merchants Bank, announced today that it will report fourth quarter and full year 2015 earnings at the close of business on Thursday, January 21, 2016.
MBVT: 31.50 (+0.54)
Merchants Bancshares NUVO Bank & Trust Company complete merger
M2 - Fri Dec 11, 7:20AM CST
Merchants Bancshares, Inc. (NASDAQ: MBVT), said it has completed the merger of NUVO Bank & Trust Company (NUVO), located in Springfield, Massachusetts. NUVO's banking business will be operated as a division of Merchants Bank, a wholly owned subsidiary of Merchants. Total compensation paid by Merchants for NUVO's outstanding stock is comprised of approximately 517,100 shares of common stock and USD5.106 million in cash. Merchants also paid an aggregate of approximately USD878,000 to cash out NUVO stock options and a portion of its common stock warrants and issued replacement warrants to purchase Merchants common stock on adjusted terms. With completion of the merger, Merchants Bancshares now has consolidated assets of approximately USD2.0 billion and 33 banking locations, including the new office in Springfield, Massachusetts. Merchants Bancshares, Inc. (NASDAQ: MBVT) is the parent company of Merchants Bank, headquartered in South Burlington, Vermont. Established in 1849, Merchants Bank is a large Vermont-based bank, independently and locally operated.
MBVT: 31.50 (+0.54)
Merchants Bancshares reveals NUVO Bank & Trust merger election results
M2 - Thu Dec 10, 5:21AM CST
Merchants Bancshares, Inc. (NASDAQ: MBVT) said it has released results of the cash/stock elections regarding the merger consideration to be received by shareholders of NUVO Bank & Trust Company in connection with the pending merger of NUVO with and into Merchants' wholly owned subsidiary, Merchants Bank. As of the election deadline, 2,854,439 shares of NUVO common stock were outstanding. Holders of 1,368,911 shares, or 48 percent, made a stock election to receive Merchants common stock; holders of 688,227 shares, or 24.1 percent made a cash election to receive cash; and holders of 797,301 shares, or 27.9 percent, did not make a valid election or did not express a preference. Merchants Bancshares, Inc. is the parent company of Merchants Bank, headquartered in South Burlington, Vermont. Established in 1849, Merchants Bank is a large Vermont-based bank, independently and locally operated.
MBVT: 31.50 (+0.54)
Merchants Bancshares, Inc. Announces Completion of Merger with NUVO Bank & Trust Company
PR Newswire - Fri Dec 04, 4:01PM CST
Merchants Bancshares, Inc. (NASDAQ: MBVT), today announced the completion of the merger of NUVO Bank & Trust Company (NUVO), located in Springfield, Massachusetts. NUVO's banking business will be operated as a division of Merchants Bank, a wholly owned subsidiary of Merchants. Total compensation paid by Merchants for NUVO's outstanding stock is comprised of approximately 517,100 shares of common stock and $5.106 million in cash. Merchants also paid an aggregate of approximately $878,000 to cash out NUVO stock options and a portion of its common stock warrants and issued replacement warrants to purchase Merchants common stock on adjusted terms.
MBVT: 31.50 (+0.54)
Merchants Bancshares appoints president/CEO
M2 - Thu Dec 03, 6:47AM CST
Board of directors of Merchants Bancshares, Inc. (NASDAQ: MBVT) has appointed Geoffrey R. Hesslink as the president and CEO of Merchants Bancshares, Inc., effective January 1, 2016. Hesslink currently serves as president and CEO and a director of Merchants' operating subsidiary, Merchants Bank. The board of directors also appointed Hesslink to serve as a director on the Merchants' board, effective January 1, 2016. Michael R. Tuttle, who currently serves as president and CEO of Merchants, will step down from those positions at the end of 2015, but will remain on the boards of directors of both Merchants' and Merchants Bank. Tuttle served as President and CEO of the Bank from January 1, 2006 until December 31, 2014 and has served as president and CEO of Merchants since January 1, 2007. Merchants Bank is Vermont's sole remaining statewide independent bank. Consumer, business, municipal and investment customers enjoy personalized relationships, sophisticated online and mobile banking options, and 32 branches statewide.
MBVT: 31.50 (+0.54)
Anita Bourgeois is promoted to SVP and Senior Director, Deposit Growth and Profitability at Merchants Bank
PR Newswire - Fri May 20, 4:32PM CDT
Geoffrey Hesslink, President and Chief Executive Officer for Merchants Bank, is pleased to announce the promotion of Anita Bourgeois to Senior Vice President and Senior Director, Deposit Growth and Profitability.
MBVT: 31.50 (+0.54)
Merchants Bank Supports Spectrum Youth and Family Services with $5,000 Donation
PR Newswire - Tue May 03, 7:30AM CDT
Merchants Bank is proud to support Spectrum Youth and Family Services ("Spectrum"
with a $5,000 donation to the Basic Needs and Stable Homes programs. Funding will help vulnerable youth with critical support including meals, material needs, shelter, housing and improved connections to community support services. MBVT: 31.50 (+0.54)
Merchant Bancshares posts 1Q profit
Automated Insights - Thu Apr 28, 3:45PM CDT
SOUTH BURLINGTON, Vt. (AP) _ Merchants Bancshares Inc. (MBVT) on Thursday reported first-quarter profit of $3.5 million.
MBVT: 31.50 (+0.54)
Merchants Bancshares, Inc. Announces Dividend and First Quarter 2016 Results
PR Newswire - Thu Apr 28, 3:01PM CDT
Merchants Bancshares, Inc. (NASDAQ: MBVT), the parent company of Merchants Bank, today announced net income of $3.49 million, or $0.51 per basic share and $0.50 per diluted share for the first quarter of 2016. Excluding merger costs and severance expense, net of tax, the Company's core net income was $3.82 million or $0.56 per basic share and $0.55 per diluted share. This compares to core net income of $3.94 million or $0.61 per basic and diluted share on a linked quarter basis.
MBVT: 31.50 (+0.54)
Merchants Bancshares, Inc. Announces First Quarter 2016 Earnings Release Date and Conference Call
PR Newswire - Mon Apr 04, 3:01PM CDT
Merchants Bancshares, Inc. (NASDAQ: MBVT), the parent company of Merchants Bank, announced today that it will report first quarter 2016 earnings at the close of business on Thursday, April 28, 2016.
MBVT: 31.50 (+0.54)
Merchants Bank Helps Raise Over $24,000 for Vermont CARES
PR Newswire - Thu Mar 17, 7:00AM CDT
On Saturday, March 5th with Merchants Bank as the presenting sponsor, Vermont CARES hosted the 30th Annual Live and Silent Auction. Merchants Bank gathered with supporters to celebrate the accomplishments of Vermont CARES. Attendance was at an all-time high, up over 30% as compared to past years. This year's event rose over $24,000 with all funds going directly to prevention programs and Vermont CARES new campaign "ON THE ROAD TO ZERO" -- to assist Vermont in becoming the first state to have zero new HIV infections by 2020.
MBVT: 31.50 (+0.54)
Merchants Bank and Employees Contribute Over $90,000 to United Way throughout Vermont
PR Newswire - Mon Mar 14, 12:29PM CDT
For decades Merchants Bank and Merchants Bank employees have been pledging to United Way throughout Vermont. This year, Merchants Bank continued its tradition of running a successful campaign, with individual employee pledges of $55,000 and a corporate pledge of $35,000. Merchants Bank employee pledges combined with the Merchants Bank donation, contributed to over $90,000 to United Way throughout Vermont.
MBVT: 31.50 (+0.54)
Merchants Bank WARMTH Challenge Grant Helped Raise Over $100,000 in the Month of December
PR Newswire - Wed Mar 09, 7:30AM CST
Merchants Bank partnered with WARMTH again this year to help prevent low-income Vermonters across the state from going without heat this winter. Merchants Bank matched dollar-for-dollar donations raised for WARMTH throughout the month of December. Coupled with the Merchants Bank match of $40,000, the Vermont community raised $107,000.
MBVT: 31.50 (+0.54)
Merchants Bancshares, Inc. Announces 2016 Annual Meeting Information
PR Newswire - Thu Mar 03, 3:01PM CST
Merchants Bancshares, Inc. (NASDAQ: MBVT), the parent company of Merchants Bank, today announced that its 2016 Annual Meeting will be held on Thursday, May 26, 2016 at 10:00 AM Eastern Time. Stockholders of record of the Company's Common Stock as of the close of business on March 28, 2016 are entitled to vote at the Annual Meeting. The meeting will be held at The Essex Resort and Spa, 70 Essex Way, Essex Junction, Vermont 05452.
MBVT: 31.50 (+0.54)
BUYINS.NET: SFNC, MBVT, LKFN, RJF, CVGI, Expected to Trade Higher After Bullish Insider Trading
M2 - Thu Jan 28, 8:45AM CST
BUYINS.NET / http://www.squeezetrigger.com is monitoring top insider trading patterns and these stocks are the most likely to trade Higher in the next 6 months. SIMMONS FIRST NATIONAL CORPORATION (NASDAQ:SFNC), Merchants Bancshares Inc (NASDAQ:MBVT), Lakeland Financial Corp (NASDAQ:LKFN), Raymond James Financial Inc (NYSE:RJF), Commercial Vehicle Group Inc (NASDAQ:CVGI) are all expected to go Higher as Buy signals have been generated by top insider trading patterns.
RJF: 53.98 (+1.34), MBVT: 31.50 (+0.54), SFNC: 48.11 (+1.54), CVGI: 5.55 (+0.35), LKFN: 48.42 (+1.28)
Merchants Bancshares reports Q4 2015 net income of USD2.3m
M2 - Wed Jan 27, 4:46AM CST
Merchants Bancshares, Inc. (NASDAQ: MBVT), the parent company of Merchants Bank, has reported net income of USD2.31 million, or USD0.36 per basic and diluted share for the fourth quarter of 2015, the company said. The fourth quarter of 2015 included USD1.6 million of merger-related expenses, net of tax, related to the acquisition of NUVO Bank & Trust Company, which closed on December 4, 2015, and retirement costs net of tax. Excluding these items, the company's core net income was USD3.94 million or USD0.61 per basic and diluted share. This compares to net income of USD2.50 million, or USD0.40 per basic and USD0.39 per diluted share, for the fourth quarter of 2014. As a result of the acquisition of NUVO, Merchants Bancshares added assets of USD165 million, loans of USD149 million and deposits of USD143 million. For the year ended December 31, 2015, net income totaled USD12.62 million, or USD1.98 per basic and diluted share, compared to net income of USD12.13 million, or USD1.92 per basic and USD1.91 per diluted share for the year ended December 31, 2014. The return on average assets was 0.49 percent and 0.71 percent for the three months and year ended December 31, 2015, respectively, compared to 0.59 percent and 0.73 percent for the same periods in 2014. The return on average equity was 6.73 percent and 9.69 percent for the three months and year ended December 31, 2015, respectively, compared to 7.95 percent and 9.84 percent for the same periods in 2014. The company's board of directors approved a dividend of USD0.28 per share, payable February 18, 2016, to stockholders of record as of February 4, 2016. Net interest income on a fully taxable basis was USD13.25 million for the three months ended December 31, 2015, compared to USD12.60 million for the quarter ending September 30, 2015, and USD12.02 million for the same period in 2014. The company recorded a zero provision for credit losses during the fourth quarters of 2015 and 2014. The year to date provision for credit losses totaled USD250 thousand compared to USD150 thousand for the twelve months ended December 31, 2014, reflecting the trend of solid credit quality. Noninterest income for the fourth quarter of 2015 was USD3.09 million, a decrease of USD362 thousand on a linked quarter basis and an increase of USD284 thousand from the fourth quarter of 2014. The decline on a linked quarter basis was attributable to non-recurring miscellaneous income recognized in the prior quarter. The increase from the fourth quarter of 2014 was due to higher seasonal volumes in debit card and overdraft fee income. Excluding merger-related, severance and retirement costs for 2015, and conversion and severance expenses for 2014, noninterest expense was USD10.9 million for the fourth quarter of 2015, an increase of USD805 thousand on a linked quarter basis and an increase of USD543 thousand from the fourth quarter of 2014. The primary drivers of the increases were incentive accruals.
MBVT: 31.50 (+0.54)
Merchants Bancshares declares slightly lower net income for Q4 2015 over Q4 2014
M2 - Fri Jan 22, 3:10AM CST
Merchants Bancshares Inc (NASDAQ:MBVT) reported on Thursday for the fourth quarter of 2015 a net income of USD2.31m or USD0.36 per basic and diluted share, slightly down from the net income of USD2.50m or USD0.39 per diluted share in the fourth quarter of 2014.
MBVT: 31.50 (+0.54)
Merchants Bancshares, Inc. Announces Dividend, Fourth Quarter and Year End 2015 Results
PR Newswire - Thu Jan 21, 3:01PM CST
Merchants Bancshares, Inc. (NASDAQ: MBVT), the parent company of Merchants Bank, today announced net income of $2.31 million, or $0.36 per basic and diluted share for the fourth quarter of 2015. The fourth quarter of 2015 included $1.6 million of merger-related expenses, net of tax, related to the acquisition of NUVO Bank & Trust Company, which closed on December 4, 2015, and retirement costs net of tax. Excluding these items, the Company's core net income was $3.94 million or $0.61 per basic and diluted share. This compares to net income of $2.50 million, or $0.40 per basic and $0.39 per diluted share, for the fourth quarter of 2014. For the year ended December 31, 2015, net income totaled $12.62 million, or $1.98 per basic and diluted share, compared to net income of $12.13 million, or $1.92 per basic and $1.91 per diluted share for the year ended December 31, 2014.
MBVT: 31.50 (+0.54)
Merchants Bancshares, Inc. Announces Fourth Quarter and Full Year 2015 Earnings Release Date and Conference Call
PR Newswire - Fri Jan 08, 3:30PM CST
Merchants Bancshares, Inc. (NASDAQ: MBVT), the parent company of Merchants Bank, announced today that it will report fourth quarter and full year 2015 earnings at the close of business on Thursday, January 21, 2016.
MBVT: 31.50 (+0.54)
Merchants Bancshares NUVO Bank & Trust Company complete merger
M2 - Fri Dec 11, 7:20AM CST
Merchants Bancshares, Inc. (NASDAQ: MBVT), said it has completed the merger of NUVO Bank & Trust Company (NUVO), located in Springfield, Massachusetts. NUVO's banking business will be operated as a division of Merchants Bank, a wholly owned subsidiary of Merchants. Total compensation paid by Merchants for NUVO's outstanding stock is comprised of approximately 517,100 shares of common stock and USD5.106 million in cash. Merchants also paid an aggregate of approximately USD878,000 to cash out NUVO stock options and a portion of its common stock warrants and issued replacement warrants to purchase Merchants common stock on adjusted terms. With completion of the merger, Merchants Bancshares now has consolidated assets of approximately USD2.0 billion and 33 banking locations, including the new office in Springfield, Massachusetts. Merchants Bancshares, Inc. (NASDAQ: MBVT) is the parent company of Merchants Bank, headquartered in South Burlington, Vermont. Established in 1849, Merchants Bank is a large Vermont-based bank, independently and locally operated.
MBVT: 31.50 (+0.54)
Merchants Bancshares reveals NUVO Bank & Trust merger election results
M2 - Thu Dec 10, 5:21AM CST
Merchants Bancshares, Inc. (NASDAQ: MBVT) said it has released results of the cash/stock elections regarding the merger consideration to be received by shareholders of NUVO Bank & Trust Company in connection with the pending merger of NUVO with and into Merchants' wholly owned subsidiary, Merchants Bank. As of the election deadline, 2,854,439 shares of NUVO common stock were outstanding. Holders of 1,368,911 shares, or 48 percent, made a stock election to receive Merchants common stock; holders of 688,227 shares, or 24.1 percent made a cash election to receive cash; and holders of 797,301 shares, or 27.9 percent, did not make a valid election or did not express a preference. Merchants Bancshares, Inc. is the parent company of Merchants Bank, headquartered in South Burlington, Vermont. Established in 1849, Merchants Bank is a large Vermont-based bank, independently and locally operated.
MBVT: 31.50 (+0.54)
Merchants Bancshares, Inc. Announces Completion of Merger with NUVO Bank & Trust Company
PR Newswire - Fri Dec 04, 4:01PM CST
Merchants Bancshares, Inc. (NASDAQ: MBVT), today announced the completion of the merger of NUVO Bank & Trust Company (NUVO), located in Springfield, Massachusetts. NUVO's banking business will be operated as a division of Merchants Bank, a wholly owned subsidiary of Merchants. Total compensation paid by Merchants for NUVO's outstanding stock is comprised of approximately 517,100 shares of common stock and $5.106 million in cash. Merchants also paid an aggregate of approximately $878,000 to cash out NUVO stock options and a portion of its common stock warrants and issued replacement warrants to purchase Merchants common stock on adjusted terms.
MBVT: 31.50 (+0.54)
Merchants Bancshares appoints president/CEO
M2 - Thu Dec 03, 6:47AM CST
Board of directors of Merchants Bancshares, Inc. (NASDAQ: MBVT) has appointed Geoffrey R. Hesslink as the president and CEO of Merchants Bancshares, Inc., effective January 1, 2016. Hesslink currently serves as president and CEO and a director of Merchants' operating subsidiary, Merchants Bank. The board of directors also appointed Hesslink to serve as a director on the Merchants' board, effective January 1, 2016. Michael R. Tuttle, who currently serves as president and CEO of Merchants, will step down from those positions at the end of 2015, but will remain on the boards of directors of both Merchants' and Merchants Bank. Tuttle served as President and CEO of the Bank from January 1, 2006 until December 31, 2014 and has served as president and CEO of Merchants since January 1, 2007. Merchants Bank is Vermont's sole remaining statewide independent bank. Consumer, business, municipal and investment customers enjoy personalized relationships, sophisticated online and mobile banking options, and 32 branches statewide.
MBVT: 31.50 (+0.54)
