Latest news for Citba Finl (OTC:CBAF) Stock

Citba Finl

CITBA FINCL CP

Citba Financial Corp is a financial service provider. It functions through its wholly-owned subsidiary. The company is a bank holding company whose principal activity is the ownership and management of the Bank. It operates under a state bank charter and provides full banking services including personal and business banking facilities such as banking, checking, savings, business checking, business saving, and commercial loans. The Bank generates commercial, mortgage, and consumer loans and receives deposits from customers located primarily in Morgan County, Indiana and surrounding counties. The Company's primary sources of revenue are derived from interest and dividends earned on loans, investment securities, and other financial instruments.

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CITBA Financial, Merchants Bancorp Agree to Merger

CITBA FINANCIAL CORP by Citba Financial Corp.

Citba Financial Corp

CITBA Financial Corporation goes ex-dividend tomorrow

CITBA Financial Corporation goes ex dividend tomorrow

Citba Financial

Pre-open movers
US stock futures are lower this morning. Futures for the Dow Jones Industrial Average dropped 1 point to 15,061.00 and S&P 500 index futures dropping 0.90 points to 1,627.80. Nasdaq 100 futures dropped 4.75 points to 2,957.00.

 
A Peek Into Global Markets
 
European markets were mixed today. The STOXX Europe 600 Index rose 0.04%, London's FTSE 100 index gained 0.05%, French CAC 40 Index dropped 0.77% and German DAX 30 index dropping 0.02%.

Asian markets were mostly lower, with Japan's Nikkei Stock Average dropping 0.66%, China's Shanghai Composite dropping 0.59% and Australia's S&P/ASX 200 index rose 0.05%. Hong Kong's Hang Seng Index dropping 0.14% and India's Sensex dropping 0.26%.


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Analysts at Goldman Sachs downgraded Tesla Motors (NASDAQ: <a class="ticker" href="/stock/tsla#NASDAQ">TSLA</a>) from “buy” to “neutral.” The target price for Tesla Motors has been raised from $45 to $61.

Tesla Motors' shares closed at $55.79 yesterday.



 
Breaking news 
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<li> Resolute Energy (NYSE: <a class="ticker" href="/stock/ren#NYSE">REN</a>) announced today the pricing of a previously announced registered underwritten public offering of 13,250,000 shares of common stock offered by the Company and 3,000,000 shares of common stock offered by certain selling stockholders. To read the full news, <a href="http://www.benzinga.com/news/13/05/3573834/resolute-energy-prices-16-25m-share-common-stock-offering-at-8-00share">click here. </a></li>
 
<li> Orion Marine Group (NYSE: <a class="ticker" href="/stock/orn#NYSE">ORN</a>) (the "Company"), a leading heavy civil marine contractor serving the infrastructure sector, today announced a contract award of approximately $9 million. To read the full news, <a href="http://www.benzinga.com/news/13/05/3573832/orion-marine-group-announces-9m-contract-award-from-us-army-corps-of-engineers">click here.</a></li>
 
<li> CITBA Financial Corporation (CITBA) (OTC: <a class="ticker" href="/stock/cbaf#OTC">CBAF</a>), Mooresville, IN, the bank holding company of Citizens Bank, and Merchants Bancorp (Merchants)(private), Carmel, IN, the bank holding company of Merchants Bank of Indiana, announced today they have signed a definitive agreement for the merger of Merchants with and into CITBA. To read the full news, <a href="http://www.benzinga.com/news/13/05/3573194/citba-financial-merchants-bancorp-agree-to-merger">click here.</a></li>
 
<li> TeleCommunication Systems (NASDAQ: <a class="ticker" href="/stock/tsys#NASDAQ">TSYS</a>), today announced that it has been awarded $2 million in incremental funding to provide the U.S. Marine Corps (USMC) with Deployed Engineering Services for its Wireless Point to Point Link (WPPL) systems and commercialization effort in theater. To read the full news, <a href="http://www.benzinga.com/news/13/05/3574276/telecommunication-systems-receives-2m-in-incremental-funding-to-deliver-communica">click here.</a></li>
</ul>

CITBA Financial Corporation (CITBA) (OTC: <a class="ticker" href="/stock/cbaf#OTC">CBAF</a>), Mooresville, IN, the bank holding company of Citizens Bank, and Merchants Bancorp (Merchants)(private), Carmel, IN, the bank holding company of Merchants Bank of Indiana, announced today they have signed a definitive agreement for the merger of Merchants with and into CITBA.&nbsp; CITBA will be the surviving corporation, and will be renamed Merchants Bancorp.&nbsp; Citizens Bank will be merged with and into Merchants Bank of Indiana.&nbsp; 

(Logo: http://photos.prnewswire.com/prnh/20130508/DE10495LOGO-a )(Logo: http://photos.prnewswire.com/prnh/20130508/DE10495LOGO-b )

CITBA serves the retail banking needs of Morgan, Johnson and Hendricks County markets with eleven locations, and has $375 million in assets, 133 employees, and over 400 shareholders.&nbsp; Merchants focuses on several aspects of mortgage and agricultural lending and wealth services from four Central Indiana locations, has $1.2 billion in assets, 74 employees, and 8 shareholders.&nbsp; Merchants Bank of Indiana owns P/R Mortgage &amp; Investment Corp., a leading multi-family housing mortgage company in the Midwest United States.&nbsp; 

"I am very excited about the combination of our two strong community banks with complimentary business models.&nbsp; This unique opportunity creates an exceptional community bank with multiple revenue streams and a strong foundation for further growth," stated Lynn
 
 <a href="http://www.benzinga.com/pressreleases/13/05/n3573065/citba-financial-corporation-and-merchants-bancorp-agree-to-merge">See full press release</a>

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Thursday, May 09, 2013