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Business Wire
6 hours ago
- Business
- Business Wire
Independent Bank Corp. and Enterprise Bancorp, Inc. Announce the Receipt of All Regulatory Approvals and Anticipated Closing Date
ROCKLAND, Mass. & LOWELL, Mass.--(BUSINESS WIRE)--Independent Bank Corp. (NASDAQ: INDB) ('Independent'), parent of Rockland Trust Company ('Rockland Trust'), and Enterprise Bancorp, Inc. (NASDAQ: EBTC) ('Enterprise'), parent of Enterprise Bank and Trust Company ('Enterprise Bank'), jointly announce the following in connection with Independent's proposed acquisition of Enterprise: All required regulatory approvals relating to the proposed transaction have now been received. The proposed transaction is expected to be completed on July 1, 2025, subject to the satisfaction of the remaining customary closing conditions. 'Securing all required regulatory approvals is a significant milestone and the result of thoughtful collaboration between our two organizations,' said Jeffrey Tengel, Chief Executive Officer at Rockland Trust. 'The success of this combination will come from the people behind it, our colleagues, customers, and communities. We are excited to move forward and grow as a community-oriented bank that is deeply rooted in relationships and ready to meet the evolving needs of those we serve.' 'This integration brings together two banks with shared values and a commitment to serving others,' said Steven Larochelle, Chief Executive Officer at Enterprise Bank. 'I'm incredibly proud of what our Enterprise team has built and am confident that, as part of Rockland Trust, this next chapter will bring expanded opportunities and continued support to the customers and communities we are honored to serve.' ABOUT INDEPENDENT BANK CORP. Independent Bank Corp. (NASDAQ Global Select Market: INDB) is the holding company for Rockland Trust Company, a full-service commercial bank headquartered in Massachusetts. With retail branches in Eastern Massachusetts and Worcester County as well as commercial banking and investment management offices in Massachusetts and Rhode Island, Rockland Trust offers a wide range of banking, investment, and insurance services to individuals, families, and businesses. Rockland Trust also offers a full suite of mobile, online, and telephone banking services. Rockland Trust is an FDIC member and an Equal Housing Lender. ABOUT ENTERPRISE BANCORP, INC. Enterprise Bancorp, Inc. is a Massachusetts corporation that conducts substantially all its operations through Enterprise Bank and Trust Company, commonly referred to as Enterprise Bank, and has reported 142 consecutive profitable quarters. Enterprise Bank is principally engaged in the business of attracting deposits from the general public and investing in commercial loans and investment securities. Through Enterprise Bank and its subsidiaries, Enterprise offers a range of commercial, residential and consumer loan products, deposit products and cash management services, electronic and digital banking options, as well as wealth management, and trust services. Enterprise's headquarters and Enterprise Bank's main office are located at 222 Merrimack Street in Lowell, Massachusetts. Enterprise's primary market area is the Northern Middlesex, Northern Essex, and Northern Worcester counties of Massachusetts and the Southern Hillsborough and Southern Rockingham counties in New Hampshire. Enterprise Bank has 27 full-service branches located in the Massachusetts communities of Acton, Andover, Billerica (2), Chelmsford (2), Dracut, Fitchburg, Lawrence, Leominster, Lexington, Lowell (2), Methuen, North Andover, Tewksbury (2), Tyngsborough and Westford and in the New Hampshire communities of Derry, Hudson, Londonderry, Nashua (2), Pelham, Salem and Windham. CAUTION REGARDING FORWARD-LOOKING STATEMENTS This communication may contain forward-looking statements, including, but not limited to, certain plans, expectations, goals, projections, and statements about the benefits of the proposed transaction, the plans, objectives, expectations and intentions of Independent and Enterprise, the expected timing of completion of the transaction, and other statements that are not historical facts. Such statements are subject to numerous assumptions, risks, and uncertainties. Statements that do not describe historical or current facts, including statements about beliefs and expectations, are forward-looking statements. Forward-looking statements may be identified by words such as expect, anticipate, believe, intend, estimate, plan, target, goal, or similar expressions, or future or conditional verbs such as will, may, might, should, would, could, or similar variations. The forward-looking statements are intended to be subject to the safe harbor provided by Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995. Independent and Enterprise caution that the forward-looking statements in this communication are not guarantees of future performance and involve a number of known and unknown risks, uncertainties and assumptions that are difficult to assess and are subject to change based on factors which are, in many instances, beyond Independent's and Enterprise's control. While there is no assurance that any list of risks and uncertainties or risk factors is complete, below are certain factors which could cause actual results to differ materially from those contained or implied in the forward-looking statements: (1) changes in general economic, political, or industry conditions; (2) uncertainty in U.S. fiscal and monetary policy, including the interest rate policies of the Board of Governors of the Federal Reserve System; (3) volatility and disruptions in global capital and credit markets; (4) movements in interest rates; (5) the resurgence of elevated levels of inflation or inflationary pressures in the United States and the Enterprise and Independent market areas; (6) increased competition in the markets of Independent and Enterprise; (7) success, impact, and timing of business strategies of Independent and Enterprise; (8) the nature, extent, timing, and results of governmental actions, examinations, reviews, reforms, regulations, and interpretations; (9) the expected impact of the proposed transaction between Enterprise and Independent on the combined entities' operations, financial condition, and financial results; (10) the failure to satisfy any of the conditions to the closing of transaction on a timely basis or at all or other delays in completing the proposed transaction; (11) the occurrence of any event, change or other circumstances that could give rise to the right of one or both of the parties to terminate the merger agreement; (12) the outcome of any legal proceedings that may be instituted against Independent or Enterprise; (13) the possibility that the anticipated benefits of the proposed transaction are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of the two companies or as a result of the strength of the economy and competitive factors in the areas where Independent and Enterprise do business; (14) the possibility that the proposed transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; (15) diversion of management's attention from ongoing business operations and opportunities; (16) potential adverse reactions or changes to business or employee relationships, including those resulting from the announcement or completion of the proposed transaction; (17) the dilution caused by Independent's issuance of additional shares of its capital stock in connection with the proposed transaction; (18) a deterioration of the credit rating for U.S. long-term sovereign debt or uncertainty regarding U.S. fiscal debt, deficit and budget matters; (19) cyber incidents or other failures, disruptions or breaches of our operational or security systems or infrastructure, or those of our third-party vendors or other service providers, including as a result of cyber-attacks; (20) severe weather, natural disasters, acts of war or terrorism, geopolitical instability or other external events, including as a result of changes in U.S. presidential administrations or Congress, including potential changes in U.S. and international trade and tariff policies and the resulting impact on Independent and Enterprise and their respective customers; and (21) other factors that may affect the future results of Independent and Enterprise. Additional factors that could cause results to differ materially from those described above can be found in Independent's Annual Report on Form 10-K for the year ended December 31, 2024 and in its subsequent Quarterly Reports on Form 10-Q, including in the respective 'Risk Factors' and 'Management's Discussion and Analysis of Financial Condition and Results of Operations' sections of such reports, as well as in subsequent SEC filings, each of which is on file with the U.S. Securities and Exchange Commission (the 'SEC') and available in the 'Investor Relations' section of Independent's website, under the heading 'SEC Filings' and in other documents Independent files with the SEC, and in Enterprise's Annual Report on Form 10-K for the year ended December 31, 2024 and in its subsequent Quarterly Reports on Form 10-Q, including in the respective 'Risk Factors' and 'Management's Discussion and Analysis of Financial Condition and Results of Operations' sections of such reports, as well as in subsequent SEC filings, each of which is on file with and available in the 'Investor Relations' section of Enterprise's website, under the heading 'SEC Filings' and in other documents Enterprise files with the SEC. All forward-looking statements speak only as of the date they are made and are based on information available at that time. Neither Independent nor Enterprise assumes any obligation to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements were made or to reflect the occurrence of unanticipated events except as required by federal securities laws. As forward-looking statements involve significant risks and uncertainties, caution should be exercised against placing undue reliance on such statements. All forward-looking statements, express or implied, included in the document are qualified in their entirety by this cautionary statement.
Yahoo
3 days ago
- Business
- Yahoo
Consolidated Water Increases Dividend and Declares Third Quarter Cash Dividend of $0.14 per Share
GEORGE TOWN, Cayman Islands, June 02, 2025 (GLOBE NEWSWIRE) -- Consolidated Water Co. Ltd. (NASDAQ Global Select Market: CWCO), a leading designer, builder and operator of advanced water supply and treatment plants, has increased its quarterly cash dividend and declared a dividend of $0.14 per share for the third quarter of 2025. This third quarter dividend of $0.14 per share represents an increase of 27.3% from the second quarter 2025 dividend of $0.11 per share. The cash dividend is payable on July 31, 2025 to shareholders of record at the close of business on July 1, 2025. 'Our continued positive and consistent financial performance in our retail, bulk and manufacturing segments has resulted in increased cash flows and liquidity for our company,' stated Consolidated Water president and CEO, Rick McTaggart. 'These results, along with the cash from our settlement of the Mexico arbitration last year and our positive outlook for our services segment, has led to the decision by our board of directors to increase our quarterly dividend for our stockholders.' The company recently reported revenue of $33.7 million and earnings per share of $0.30 in the first quarter of 2025. About Consolidated Water Co. Water Co. Ltd. develops and operates advanced water supply and treatment plants and water distribution systems. The company designs, constructs and operates seawater desalination facilities in the Cayman Islands, The Bahamas and the British Virgin Islands, and designs, constructs and operates water treatment and reuse facilities in the United States. The company has underway a $204 million design-build-operate project for a seawater desalination plant in Hawaii. The company also manufactures and services a wide range of products and provides design, engineering, management, operating and other services applicable to commercial and municipal water production, supply and treatment, and industrial water and wastewater treatment. For more information, visit Company Contact:David W. SasnettExecutive Vice President and CFOTel (954) 509-8200Email ContactInvestor & Media Relations Contact:Ron Both or Grant StudeEncore Investor & Media RelationsTel (949) 432-7557Email contactError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
21-05-2025
- Business
- Yahoo
Tim Juliano Joins Peapack Private Bank & Trust
BEDMINSTER, NJ - May 21, 2025 (NEWMEDIAWIRE) - Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) and Peapack Private Bank & Trust announce that Tim Juliano has joined the Bank's commercial banking division as a Senior Managing Director based out of its growing Melville, New York location. Tim will lead a team of relationship managers as a group director, responsible for growing Peapack Private's presence on Long Island. With more than 37 years of commercial banking experience, Tim joins from Flagstar Bank where as a senior vice president and managing group director, he was responsible for the overall management of team activities in business development, relationship management and day to day servicing of an existing portfolio of middle market clients, and a portfolio of over 50 relationships, with a peak of $440 million in deposits and $350 million in credit commitments. Prior to Flagstar, he held similar senior leadership level roles at Dime Community Bank, Sterling National Bank, and Capital One Bank. Earlier in his career he was a vice president and finance manager in business financial services with Merrill Lynch. His banking career began with roles at Manufacturers Hanover Trust, Chemical Bank and Chase Manhattan Bank (via mergers), where he was a relationship manager in the business banking space. An ex-captain with the Hauppauge Volunteer Fire Department, Tim has a Bachelor of Arts in economics from the State University of New York Stony Brook. About the Company Peapack-Gladstone Financial Corporation is a New Jersey bank holding company with total assets of $7.1 billion and assets under management and/or administration of $11.8 billion as of March 31, 2025. Founded in 1921, Peapack Private Bank & Trust is a commercial bank that offers a client-centric approach to banking, providing high-quality products along with customized and innovative wealth management, investment banking, commercial and personal banking solutions. The Bank's wealth management division offers comprehensive financial, tax, fiduciary and investment advice and solutions to individuals, families, privately held businesses, family offices and not-for-profit organizations, which help them to establish, maintain and expand their legacy. Peapack Private Bank & Trust offers an unparalleled commitment to client service. Visit for more information. Contact: Denise Pace-Sanders, Peapack Private Bank & Trust, SVP Managing Principal, Brand and Marketing Director, 500 Hills Drive, Suite 300, Bedminster, NJ 07921, dpace@ (908) 470-3322 View the original release on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Upturn
15-05-2025
- Business
- Business Upturn
ArrowMark Financial Corp. Releases Month End Estimated Net Asset Value as of April 2025
By GlobeNewswire Published on May 15, 2025, 02:30 IST DENVER, May 14, 2025 (GLOBE NEWSWIRE) — ArrowMark Financial Corp., (NASDAQ: BANX) ('ArrowMark Financial'), today announced that BANX's estimated and unaudited Net Asset Value ('NAV') as of April 30, 2025, was $21.74. This estimated NAV is not a comprehensive statement of our financial condition or results for the month April 30, 2025. About ArrowMark Financial Corp. ArrowMark Financial Corp. is an SEC registered non-diversified, closed-end fund listed on the NASDAQ Global Select Market under the symbol 'BANX.' Its investment objective is to provide shareholders with current income. BANX pursues its objective by investing primarily in regulatory capital securities of financial institutions. BANX is managed by ArrowMark Asset Management, LLC. To learn more, visit or contact Destra at 877.855.3434 or by email at [email protected]. Disclaimer and Risk Factors: There is no assurance that ArrowMark Financial will achieve its investment objective. ArrowMark Financial is subject to numerous risks, including investment and market risks, management risk, income and interest rate risks, banking industry risks, preferred stock risk, convertible securities risk, debt securities risk, liquidity risk, valuation risk, leverage risk, non-diversification risk, credit and counterparty risks, market at a discount from net asset value risk and market disruption risk. Shares of closed-end investment companies may trade above (a premium) or below (a discount) their net asset value. Shares of ArrowMark Financial may not be appropriate for all investors. Investors should review and consider carefully ArrowMark Financial's investment objective, risks, charges and expenses. Past performance does not guarantee future results. The Annual Report, Semi-Annual Report and other regulatory filings of the Company with the SEC are accessible on the SEC's website at and on the BANX's website at Contact: [email protected] Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
Business Wire
02-05-2025
- Business
- Business Wire
Organigram to Report Second Quarter Fiscal 2025 Results on May 12, 2025
TORONTO--(BUSINESS WIRE)--Organigram Global Inc. (NASDAQ: OGI) (TSX: OGI), (the 'Company' or 'Organigram'), Canada's #1 cannabis company by market share, announced today it will report earnings results for its second quarter fiscal 2025 ended March 31, 2025, on Monday, May 12, 2025, prior to market open. The Company will host a conference call to discuss its results with details as follows: To register for the conference call, please use this link: To ensure you are connected for the full call, we suggest registering a day in advance or at minimum 10 minutes before the start of the call. After registering, a confirmation will be sent through email, including dial in details and unique conference call codes for entry. Registration is open through the live call. To access the webcast: Participants will receive their details via email. A replay of the webcast will be available within 24 hours after the conclusion of the call at and will be archived for a period of 90 days following the call. About Organigram Organigram Global Inc. is a NASDAQ Global Select Market and TSX listed company whose wholly owned subsidiaries include Organigram Inc., a licensed cultivator and processor. Through its recent acquisition of Collective Project Limited, Organigram Global participates in the US and Canadian cannabinoid beverages markets. Organigram Global is focused on producing high-quality cannabis for adult recreational consumers, as well as developing international business partnerships to extend the Company's global footprint. Organigram Global has also developed and acquired a portfolio of legal adult-use recreational cannabis brands, including Edison, Holy Mountain, Big Bag O' Buds, SHRED, SHRED'ems, Monjour, Tremblant Cannabis, Trailblazer, BOXHOT, DEBUNK and Collective Project. Organigram Global operates facilities in Moncton, New Brunswick and Lac-Supérieur, Quebec, with a dedicated edibles manufacturing facility in Winnipeg, Manitoba. The Company also operates two additional cannabis processing facilities in Southwestern Ontario; one in Aylmer and the other in London. The facility in Aylmer houses best-in-class CO2 and Hydrocarbon extraction capabilities, and is optimized for formulation refinement, post-processing of minor cannabinoids, and pre-roll production. The facility in London will be optimized for labelling, packaging, and national fulfillment. The Company is regulated by the Cannabis Act and the Cannabis Regulations (Canada). Forward-Looking Information This news release contains forward-looking information. Often, but not always, forward-looking information can be identified by the use of words such as 'plans', 'expects', 'estimates', 'intends', 'anticipates', 'believes' or variations of such words and phrases or state that certain actions, events, or results 'may', 'could', 'would', 'might' or 'will' be taken, occur or be achieved. Forward-looking information including expectations regarding market performance, involves known and unknown risks, uncertainties and other factors that may cause actual results, events, performance or achievements of Organigram Global to differ materially from current expectations or future results, performance or achievements expressed or implied by the forward-looking information contained in this news release. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information include factors and risks disclosed in the Company's most recent annual information form, management's discussion and analysis, and other Company documents filed from time to time on SEDAR+ (see and filed or furnished to the Securities and Exchange Commission on EDGAR (see Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. The forward-looking information included in this news release are made as of the date of this news release and the Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
