Bank & Trust Company News
PlainsCapital To Acquire First Southwest Holdings
Dallas -- PlainsCapital Corporation, holding company for PlainsCapital Bank, has signed a definitive agreement to acquire First Southwest Holdings, Inc. the holding company for Dallas-based financial advisory and investment bank First Southwest Company. The acquisition brings together Texas’ second-largest privately held commercial bank and the second-ranked public finance advisory firm in the United States to create a full-service middle market bank for Texas and the Southwest.
With $3.4 billion in assets, PlainsCapital Bank is a commercial and private bank that specializes in serving middle market companies and high-net-worth individuals.
Wells Fargo Elder Services Program Extends Service To Chicago
Chicago -- Wells Fargo & Company announced the expansion into Chicago of its Wells Fargo Private bank Elder Services program, which offers a comprehensive set of financial, personal and life management services to help clients maintain their independence and quality of life. The program combines wealth management and estate services with life management assistance to help senior with everything from loss of a spouse to mobility and health challenges.
Northern Trust Enhances Performance Tools
Chicago -- Northern Trust announced it has introduced significant new performance and analysis capabilities for clients investing in private equity, hedge funds and other alternative assets. New features include an expanded range of resources and functions available online to meet the unique needs of alternative assets investors, and specialized tools to assist limited partners in administering private equity portfolios.
Northern Trust’s online performance analysis tool Fundamentals, now provides access to internal rate of return (IIR) measures and on-the-fly analysis of the funding status and growth of private market assets, including private equity and real assets.
Harleysville National To Acquire Willow Financial Bancorp
Harleysville and Wayne, Pa. -- Harleysville National Corporation (HNC) and Willow Financial Bancorp, Inc. announced that they have reached a definitive agreement for Willow Financial Bancorp to merge with and into HNC. Willow Financial Bancorp’s wholly owned subsidiary, Willow Financial Bank, a $1.6 billion savings bank with 29 banking offices in Southeastern Pennsylvania, will merge with and into Harleysville National Bank and Trust Company (HNB), HNC’s banking subsidiary.
Northern Trust Vice President Named Top Advisor
Chicago -- Northern Trust announced that Senior Vice President David Murdock has been named one of Worth magazine’s Top 250 Wealth Advisors for 2008. This is the second year in a row that Murdock has been named to the list, which honors America’s premier financial strategists.
Murdock, a 17-year veteran of the financial services industry, specializes in providing comprehensive financial and investment advice to high-net-worth individuals, business owners and corporate executives.
Union Bank Of California Changes Its Name
San Francisco -- UnionBanCal Corporation announced that its primary subsidiary, Union Bank of California, N.A., has legally changed its name to Union Bank, N.A. The name of the bank holding company, UnionBanCal Corporation, will not change. Bank customers will not be impacted by the legal name change, in terms of the effectiveness of contracts and other important documents bearing the Union Bank of California name, which will remain in force.
Washington Trust Opens New Branch
Westerly, R.I. -- More than seventy people, including Providence Mayor David Cicilline, Greater Providence Chamber of Commerce President Laurie White, city and state officials, local attorneys and accountants and other guests, celebrated the opening of Washington Trust’s new branch at 156 Westminster Street in Providence. The bank relocated its office from 180 Washington Street in the city to this new location in Providence’s Financial District.
The Fauquier Bank Announces Ground Breaking Ceremonies
Warrenton, Pa. -- The Fauquier Bank recently held ground breaking ceremonies for its relocated Warrenton and new Bristow offices.
The bank’s View Tree office is moving from its current location at 216 Broadview Avenue in Warrenton to the intersection of Fletcher Drive and Route 29. The branch is expected to open its doors in the fall of 2009. The new, two-story facility will be a Leadership in Energy and Environmental Design (LEED)-Certified Green Building and will include drive-thru lanes, a free standing ATM and a drive-thru ATM machine. In addition to the full service banking center, the building will house administrative offices.
Farmers National Banc Corp. Acquires Butler Wick Trust Company
Canfield, Ohio -- Farmers National Banc Corp. announced that it has entered into a stock purchase agreement with United Community Financial Corp to acquire all of the outstanding capital stock of Butler Wick Trust Company, Inc., a wholly-owned subsidiary of Butler Wick Corp. Formed in 1995, Butler Trust provides investment, trust, and estate services to private individuals and small corporate clients with a high level of attention and confidentiality.
Texas Capital Bank Wealth Management Presents At Collin County Bar Meeting
Dallas -- Texas Capital Bank’s executive vice president of the Bank’s Wealth Management and Trust Group, David Folz, recently presented at a meeting of the Estate Planning and Probate Section of the Collin County Bar Association in Allen, Texas. His topic was “Rollover IRAs in the New Millennium, An Update on the Minimum Distribution, Roth, Charitable Contribution Rules and Estate Planning Considerations.”