First Federal Bankshares, Inc. Receives Notice From NASDAQ Confirming Delisting of Common Stock Sep 15, 2009
SIOUX CITY, Iowa, Sept. 14 /PRNewswire-FirstCall/ -- First Federal Bankshares, Inc. (Nasdaq: ) (the "Company"), announced today that on September 8, 2009, the Company received a NASDAQ Staff Determination letter (the "Letter") notifying the Company that as a result of concerns about the Company's ability to sustain compliance with all of the requirements for continued listing on NASDAQ, principally due to the closure of Vantus Bank, the Company's principal operating subsidiary, NASDAQ Staff had... (PR Newswire)
How safe is your bank? (32) Sep 13, 2009
"It's certainly useful for consumers, but our consumers interpret that as a matter of personal preference,'' McBride said.Monitor regulatory actionThe FDIC Web site lists the name of the main regulator of each bank. As a federally-chartered thrift, Vantus Bank, for example, was regulated by the Office of Thrift Supervision.Because its holding company, First Federal Bankshares, was publicly traded, the bank was required to disclose OTS regulatory orders, providing early warning signs into the... (Sioux City Journal, IO)
NASDAQ Changes Trading Halt Status of First Federal Bankshares, Inc. Sep 10, 2009
NEW YORK, Sept. 9, 2009 (GLOBE NEWSWIRE) -- The NASDAQ Stock Market(r) (Nasdaq: - ) announced today that the trading halt status in First Federal Bankshares, Inc. (Nasdaq: - ) was changed to "additional information requested" from the company ... Trading will remain halted until First Federal Bankshares has fully satisfied NASDAQ's request for additional information. (Primezone Releases)
Federal regulators seize Vantus Bank Sep 5, 2009
Great Southern Bank pointed out they are considered "well capitalized'' -- the highest rating given by regulators -- both before and after the Vantus acquisition.Regulators act quicklyA small team of federal agents entered Vantus' offices at the end of business hours at 6 p.m. Friday to begin shutting it down. The Office of Trust Supervision, the primary regulator for federally chartered Vantus, appointed the FDIC as a receiver.Vantus, Sioux City's only publicly traded financial institution,... (Sioux City Journal, IO)
Vantus appoints new CEO Sep 1, 2009
"Scott is well-known to our banking customers and to our community, and will provide a source of strength and continuity to Vantus Bank in the future,'' Arlene Curry, chair of the bank's board of directors, said in a statment.Sehnert, who will be president and CEO of both the bank and its publicly-traded holding company, First Federal Bankshares, will succeed Levon Mathews. Mathews, who joined Vantus at the start of this year, announced Aug. 11 he would step down as president and CEO, effective... (Sioux City Journal, IO)
First Federal Bankshares, Inc. and Vantus Bank Announce Appointment of Scott T. Sehnert as New President and Chief Executive Officer Sep 1, 2009
Aug. 31 /PRNewswire-FirstCall/ -- First Federal Bankshares, Inc. (Nasdaq: ) (the "Company"), the holding company for Vantus Bank, a $503 ... First Federal Bankshares, Inc. and its banking subsidiary, Vantus Bank, are headquartered in Sioux City, Iowa ... SOURCE First Federal Bankshares, Inc.. (PR Newswire)
Analysis: Where Vantus went wrong Aug 30, 2009
Two weeks ago, the federal Office of Thrift Supervision told Vantus' parent company, First Federal Bankshares, that its plan to increase capital was "unacceptable.'' The OTS intends to issue a directive that would require the bank to be acquired or merged with another financial institution by Sept. 30, according to a filing with the U.S. Securities and Exchange Commission.If that date passes without a sale or merger, regulators could take further action. Under a worst-case scenario, they could... (Sioux City Journal, IO)
Vantus bank at risk of closing after 86 years (2798) Aug 26, 2009
Federal regulators have told the Sioux City-based bank's parent company, First Federal Bankshares it must be sold to or merged with another financial institution by Sept. 30 ... In mid-day trading, shares of First Federal Bankshares (FFSX) were down 9 percent, or 9 cents, at 1. (Sioux City Journal, IO)
Vantus buyer unlikely to emerge Aug 26, 2009
On deposits, the bank can not pay rates higher than the prevailing rates on deposits of "comparable amounts and maturities in the bank's normal market area,'' according to the SEC filing.Federal regulators also would have to provide written permission for the bank to forgive a loan before it is paid off, invest in financial subsidiaries or enter into any contract to purchase goods, supplies or equipment worth more than 20,000. Vantus Bank's historyThe bank, founded in 1923 as the Sioux City... (Sioux City Journal, IO)
Vantus CEO steps down after 8 months Aug 13, 2009
The bank's parent company, First Federal Bankshares, disclosed his resignation in conjunction with its latest quarterly and fiscal year earnings ... Stock price punishedShares of First Federal Bankshares (FFSX) fell 9 cents, or 6. (Sioux City Journal)
First Federal Bankshares, Inc. Reports Fourth Quarter and Fiscal Year End Results and Resignation of Chief Executive Officer Aug 12, 2009
SIOUX CITY, Iowa, Aug. 11 /PRNewswire-FirstCall/ -- First Federal Bankshares, Inc. (the "Company") (Nasdaq: ), the parent company of Vantus Bank (the "Bank"), recorded a net loss for the three months ended June 30, 2009, of $17 ... FIRST FEDERAL BANKSHARES, INC. and SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) June 30 June 30 (Dollars in thousands, except per share amounts) 2009 2008 --------------------------------------- ---- ---- ASSETS ------ Cash and due from banks $12,313... (PR Newswire)
Vantus parent preparing capital plan for regulators Aug 6, 2009
The Aug. 31 deadline was agreed to in a "consent order'' First Federal Bankshares signed July 31 with the Office of Thrift Supervision. The Sioux City-based bank disclosed the agreement in a filing Wednesday with the U.S. Securities and Exchange Commission.In May, the OTS notified First Federal that it was considered "significantly undercapitalized ... Shares of First Federal Bankshares (FFSX) fell 13 cents, or 8. (Sioux City Journal, IO)
First Federal Bankshares, Inc. Receives Nasdaq Deficiency Letter May 31, 2009
SIOUX CITY, Iowa, May 29 /PRNewswire-FirstCall/ -- First Federal Bankshares, Inc. (the "Company") (Nasdaq: ), the parent company of Vantus Bank, announced today that the Company has received a Nasdaq Staff Determination letter dated May 22, 2009 notifying the Company that, because of the Company's failure to timely file its Form 10-Q for the period ended March 31, 2009, the Company has not complied with Nasdaq Marketplace Rule 5250(c)(1) ... SOURCE First Federal Bankshares, Inc.. (PR Newswire)
'Stick-to-it-ism' pays off for the bank's new CEO (30) Feb 8, 2009
Such dogged determination stands to serve Mathews well in his new role as president and CEO of Sioux City-based First Federal Bankshares, which has been going through one of the most difficult stretches in its 86-year history. Amidst a global financial crisis and slumping housing market, the bank holding company, parent to Vantus Bank, struggled last year with falling profits, a big increase in troubled loans and a steep decline in its stock price. (Sioux City Journal)
