Capital Funding Bancorp to Acquire AmericasBank
2009年4月7日 - 9:30PM
PRニュース・ワイアー (英語)
Deal Substantially Strengthens AmericasBank BALTIMORE, April 7
/PRNewswire-FirstCall/ -- Capital Funding Bancorp, Inc. and
AmericasBank Corp. (OTC Pink Sheets: AMAB), the parent company of
AmericasBank, a Maryland-chartered commercial bank with three
branches, announced today that they have entered into a definitive
merger agreement. Under the terms of the agreement, AmericasBank
Corp. will be acquired by Capital Funding Bancorp, Inc. in a cash
transaction to AmericasBank Corp. shareholders. AmericasBank Corp.
will become a wholly-owned subsidiary of Capital Funding Bancorp,
Inc. Financial terms of the agreement were not disclosed. (Photo:
http://www.newscom.com/cgi-bin/prnh/20090407/PH95291-a ) (Photo:
http://www.newscom.com/cgi-bin/prnh/20090407/PH95291-b ) Capital
Funding Bancorp, Inc. was formed in early 2009 by Jack Dwyer, a
leading Baltimore businessman. Mr. Dwyer is the owner of Capital
Funding Group, Inc. which specializes in mortgage loans and working
capital financing for the health care industry and has provided
more than $1 billion in HUD-insured health care financing
nationwide since its founding in 1993. As a result of the
transaction, Capital Funding Bancorp, Inc. will assume certain
finance and lending functions of Capital Funding Group, Inc. Per
the agreement, Capital Funding Bancorp, Inc. will assume ownership
of AmericasBank assets, including the bank branches. Capital
Funding Bancorp, Inc. will become the parent corporation of
AmericasBank which will continue to operate as a community bank
offering small business loans, sound savings, innovative cash
management and private banking solutions. AmericasBank has three
area branches doing business as Towson Community Bank, Annapolis
Community Bank, and AmericasBank in the Highlandtown community of
the City of Baltimore. The transaction is anticipated to be
transparent to AmericasBank account holders with no major changes
anticipated at this time to either the bank's branches or its local
service offerings. After the close of the transaction, Capital
Funding Bancorp, Inc. intends to inject more than $35 million in
capital to the bank in the form of cash, a $1 billion loan
servicing portfolio and other assets without any taxpayer subsidy.
Capital Funding Bancorp, Inc. intends to retain the vast majority
of the banks' approximately 30 full-time employees The agreement
has been approved by each company's board of directors and is
subject to AmericasBank shareholder and regulatory approval. The
deal is expected to close in the second quarter of 2009. "We are
excited to grow AmericasBank into a leading community lender, and a
thriving commercial bank with national expertise in health care,"
commented Jack Dwyer, chairman and owner of Capital Funding
Bancorp, Inc. "We also see AmericasBank as an excellent platform
for continuing to grow the success of Capital Funding Group's
health care related mortgage loans and working capital financing
programs." "This agreement provides us with the necessary capital
and financial strength to operate in today's challenging banking
environment, and positions us nicely, as a well-capitalized bank,
for a strong future of growth and success," commented Lee W.
Warner, Chairman of AmericasBank. "I'm confident that this
agreement delivers the best outcome for our stockholders,
customers, employees and the community," At the close of the
transaction, A. Patrick Linton will serve as president and CEO of
AmericasBank. Mr. Linton, a seasoned bank executive, currently
serves as senior vice president of Capital Funding Bancorp, Inc. He
served as president, CEO and director of FCNB Bank and Corp in
Frederick, Maryland. After that entity merged with BB&T, Mr.
Linton served as BB&T's Potomac Region president and executive
vice president of government affairs and public policy. At the
close of the transaction A. Gary Rever, the current acting CEO of
AmericasBank, will serve as CFO of the bank and Ellen Fish, current
president of AmericasBank will serve as executive vice president of
community banking. Kennedy & Baris, LP and Whiteford Taylor
& Preston LLP acted as legal advisor to Capital Funding
Bancorp, Inc. during the transaction. David H. Lavine, CPA LLC
served as financial advisor to Capital Funding Bancorp, Inc. during
the transaction. Howe Barnes Hoefer & Arnett, Inc. rendered a
fairness opinion to AmericasBank Corp. in connection with the deal
and Ober|Kaler acted as legal advisor to AmericasBank during the
transaction. About Capital Funding Bancorp, Inc. and Capital
Funding Group, Inc. http://www.capfundinc.com/ Capital Funding
Bancorp, Inc. was formed in early 2009 by Jack Dwyer. Capital
Funding Bancorp will assume certain of the financial and lending
operations of Capital Funding Group, Inc., a full-service provider
of comprehensive financing solutions for health care facilities
nationwide, focusing exclusively on the long-term care, assisted
living and hospital sectors. Capital Funding Group, Inc. was
founded in 1993 and has provided more than $1 billion in
HUD-insured health care financing nationwide. Capital Funding
Bancorp, Inc. and Capital Funding Group, Inc. are headquartered in
Baltimore, MD. About AmericasBank Corp.
http://www.americasbank.com/ AmericasBank Corp. is the parent
company of AmericasBank, a Maryland-chartered commercial bank
headquartered in Towson, Maryland. AmericasBank is dedicated to the
growth and prosperity of the communities it serves, with a special
focus on serving the needs of the business community.
Forward-looking Statements: The statements in this press release
that are not historical facts are forward-looking statements as
defined by Federal securities laws. Forward-looking statements
include statements regarding consummation of the merger,
AmericasBank's post-merger capital levels and strength, and Capital
Funding Bancorp's expansion and management of AmericasBank after
the merger. These statements are based on Capital Funding Bancorp
Inc.'s and AmericasBank's current expectations and involve risks
and uncertainties that may cause results to differ materially than
those set forth in these statements. These risks and uncertainties
include, among others: further deterioration of economic conditions
in AmericasBank's market area and nationally; dependence on key
personnel; competitive factors within our market area; adequacy of
AmericasBank's allowance for loan losses; and changes in regulatory
requirements and/or restrictive banking legislation.
http://www.newscom.com/cgi-bin/prnh/20090407/PH95291-a
http://www.newscom.com/cgi-bin/prnh/20090407/PH95291-b
http://photoarchive.ap.org/ DATASOURCE: Capital Funding Bancorp,
Inc. CONTACT: Susan Goodell for Capital Funding Bancorp, Inc.,
+1-410-367-2700, ext. 15, Web Site: http://www.capfundinc.com/
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