Project on Government Oversights Dec 19, 2008
Hartford Financial is acquiring Federal Trust Corporation, the parent company of Federal Trust Bank in Florida. Genworth Financial is purchasing InterBank FSB in Minnesota. (Harper's Magazine)
Four Insurers Seek to Buy Lenders to Get Bailout ... Nov 16, 2008
Hartford isnt interested in buying Federal Trust Bank unless the purchase will give it access to government bailout money: its statement said that Hartfords purchase of FTB is contingent on Treasury's approval of The Hartford's participation in the CPP, approval of the acquisition by the shareholders of Federal Trust Corporation, and the Office of Thrift Supervision's approval of The Hartford's application to become a savings and loan holding company. . (Fox News)
Federal Trust Corporation Enters into Letter of Intent with Respect to Private Recapitalization Transaction Sep 20, 2008
(PRNewsFoto/FEDERAL TRUST CORPORATION) SANFORD, FL UNITED STATES ... Sept. 19 /PRNewswire-FirstCall/ -- Federal Trust Corporation (Amex: ) today announced that it has entered into a non-binding letter of intent with an investor group based in New York and Florida, whereby this group would invest between $40 million and $55 million in Federal Trust Corporation ("Federal Trust") and acquire control of Federal Trust ... Accordingly, Federal Trust has discontinued its previously-announced... (PR Newswire)
Federal Trust Corporation Enters Into Letter of Intent With Respect to Private Recapitalization Transaction; Announces Restatement of Earnings Aug 12, 2008
(PRNewsFoto/FEDERAL TRUST CORPORATION) SANFORD, FL UNITED STATES ... Aug. 11 /PRNewswire-FirstCall/ -- Federal Trust Corporation (Amex: ) today announced that it has entered into a non-binding letter of intent with Sidhu Advisors FDT, LLC, whereby Sidhu Advisors FDT, LLC, or a newly-formed affiliate, would invest at least $30 million in Federal Trust Corporation and acquire control of the Company ... The proposed transaction remains subject to entering into a definitive agreement between Federal... (PR Newswire)
Federal Trust Corporation Announces Addition of Officer Dec 1, 2007
(PRNewsFoto/FEDERAL TRUST CORPORATION) SANFORD, FL UNITED STATES ... Nov. 30 /PRNewswire-FirstCall/ -- Federal Trust Corporation (Amex: ), Dennis T. Ward, Chief Executive Officer and President of Federal Trust Corporation, announced an officer appointment at its subsidiary, Federal Trust Bank; Mark E. McRae -- Executive Vice President and Senior Loan Officer ... Federal Trust Corporation is a unitary thrift holding company and is the parent company of Federal Trust Bank, a $723 million... (PR Newswire)
Federal Trust Corporation Files Joint Bankruptcy Petition Against TransLand Aug 25, 2007
(PRNewsFoto/FEDERAL TRUST CORPORATION) SANFORD, FL UNITED STATES ... Aug. 24 /PRNewswire-FirstCall/ -- James V. Suskiewich, Chairman of the Board, Chief Executive Officer and President of Federal Trust Corporation (Amex: ), announced today that its wholly-owned subsidiary, Federal Trust Bank ("Bank"), and two other out-of-state financial institutions, yesterday filed a joint petition for involuntary Chapter 11 bankruptcy against TransLand Financial Services, Inc. ("TransLand"), a mortgage... (PR Newswire)
Federal Trust Corporation Announces 2007 Second Quarter Results Jul 31, 2007
(PRNewsFoto/FEDERAL TRUST CORPORATION) SANFORD, FL UNITED STATES ... July 30 /PRNewswire-FirstCall/ -- James V. Suskiewich, Chairman, Chief Executive Officer and President of Federal Trust Corporation (Amex: ), announced today that the Company had a $3 ... Chief Executive Officer Suskiewich concluded by saying, "notwithstanding the second quarter results, Federal Trust Bank remains 'well capitalized' under the regulatory capital guidelines. The Board of Directors has decided however, to suspend... (PR Newswire)
