Cascade Bank sale gets OK from federal regulators
Published 12:01 am Tuesday, June 28, 2011
Federal regulators have approved the sale of Everett’s Cascade Bank to California-based Opus Bank, the companies said Monday. The Federal Deposit Insurance Corporation and the California Department of Financial Institutions have approved the previously announced merger. Cascade’s shareholders approv
ed the sale on May 31. The deal is expected to close June 30. Once the transaction is completed, each share of Cascade Financial’s outstanding common stock will be exchanged for approximately 45 cents, under the terms of the merger agreement.
Boeing declares quarterly dividend
The board of directors for the Boeing Co. has approved a quarterly dividend of 42 cents per share, the company said Monday. The dividend is payable Sept. 2, 2011, to shareholders of record as of Aug. 12, 2011.
Facebook sells $6.6 million in shares
Facebook has sold about $6.6 million worth of its shares to the investment fund GSV Capital Corp. as the company is believed to be preparing for an initial public offering next year. GSV said it had purchased 225,000 shares Monday morning, at an average price of $29.28 a share. GSV, which itself went public earlier this year, is known for investing in privately held companies. The investment fund did not say how large its stake in Facebook is.
US plans to protect business websites
Businesses facing a growing threat of cyberattacks against their websites will now have more tools to protect themselves and harden their Internet sites against hackers. A new Homeland Security Department program will help small companies and non-profit groups avoid programming problems that allow hackers to get into their websites. The government’s latest effort comes on the heels of a series of high-profile hacking attacks, including one that shut down the CIA’s site for several hours last week. The new program was developed with the Mitre Corp. and is an effort to shore up known weaknesses in programming that give hackers a backdoor into websites. The effort began well before the recent website attacks.
Washington Fed approves share buyback
Washington Federal said Monday that its board authorized an expansion of its share buyback program and declared a quarterly dividend of 6 cents a share. The Seattle-based parent of Washington Federal Savings said an additional 10 million shares may be repurchased under the expanded authorization. Washington Federal repurchased nearly 1.66 million shares at a weighted average price of $15.72 during the quarter that’s scheduled to end Thursday. The dividend of 6 cents a share is unchanged from the previous quarter’s payout. It will be paid July 22 to shareholders of record as of July 8.
Herald wire services
