Northrop's Unit Sale to KKR, General Atlantic Shows Buyout Firms Return Nov 9, 2009
The firm, focused on so-called growth equity investments, last month was part of a group that agreed to buy First Republic Bank from Bank of America Corp.. After only two buyouts of more than $1. (Bloomberg)
KKR's Northrop Unit Buyout Said to Be Backed by Barclays and Royal Bank Nov 6, 2009
General Atlantic, based in Greenwich, Connecticut, was part of a group that agreed to buy First Republic Bank from. To contact the reporters on this story: in New York at ; in New York at ; Jason Kelly in New York at. (Bloomberg -- Canada)
BofA Announces Sale of First Republic Oct 22, 2009
Bank of America (BAC) announced Wednesday that it will sell First Republic Bank (FRPC) to a group of investors, including General Atlantic LLC and Colony Capital LLC, two private-equity firms. The bank said it had signed a definitive agreement which will see the transaction close in the second quarter of 2010, according to a press release. (Fox News)
BofA selling First Republic Bank Oct 22, 2009
Bank of America selling First Republic Bank ... CHARLOTTE, N.C. - Bank of America Corp. said Wednesday it has agreed to sell First Republic Bank, a private bank it inherited from Merrill Lynch & Co., to a group of investors. (MSNBC -- Business)
BofA to sell S.F.'s First Republic Oct 22, 2009
Bank of America has agreed to sell First Republic Bank of San Francisco to a group of investors including First Republic's management and funds managed by Colony Capital and General Atlantic. Images. (San Francisco Chronicle -- Business)
Kurt Chambliss Joins Heritage Commerce Corp as Vice President, SBA Aug 8, 2009
Formerly with First Republic Bank, Chambliss served as a Senior SBA Lender developing and expanding bank relationships using SBA financing as a lead product, specifically the SBA 7(a) and 504 loan program. Chambliss, a fifteen-year veteran of banking and SBA lending, was previously Vice President and Senior Business Development Officer at Greater Bay Bank, where he was responsible for managing the entire SBA sales process and was the number one producer of 7(a) and 504 loans, in dollars loaned,... (Primezone Releases)
READ THE RELEASE: Bank of America pays $713M to U.S. Jul 18, 2009
" "Most importantly, we continue to serve our customers and clients around the world every day, helping them with their accounts, meeting their financial needs and adding new business," Lewis added. Second Quarter 2009 Business Highlights -- Bank of America increased its Tier 1 common capital by nearly $40 billion through multiple actions during the quarter that included issuing shares of common stock, exchanging certain non-government preferred stock for common stock, and asset sales. -- Bank... (USA Today -- Money)
Feeding the hungry Jul 2, 2009
Prior to his tenure at Jefferson Bank, he held positions with Interfirst Bank and its successor banks First Republic Bank, NCNB Bank (now ) and National Bank of Commerce (also now Bank of America). Jefferson Bank is a privately held company with $665 million in assets and 10 branches in San Antonio and New Braunfels. (San Antonio Business Journal, TX)
BofA prices share offering Jun 24, 2009
The company has said it could raise more money by selling assets such as First Republic Bank, a San Francisco-based bank, and entering into joint ventures. Reader Comments. (Charlotte Business Journal, NC)
Blackstone, Carlyle Pursue Bank LBOs as Obama Changes Landscape Jun 19, 2009
and Carlyle Group, along with s TPG Capital, are attempting to buy First Republic Bank, according to people familiar with the matter. With each firm seeking a minority stake, the takeover would resemble last months agreement by New York-based Blackstone and Carlyle in Washington to purchase BankUnited Financial Corp.. (Bloomberg -- US)
Report: Carlyle eyes First Republic Bank Jun 18, 2009
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BUSINESS BRIEFS Jun 17, 2009
Carlyle Group and Blackstone Group are leading a group of bid ders in talks to buy Bank of America's First Republic Bank, a lender catering to wealthy in dividuals, sources said. Saab sold. (New York Post -- Business)
Carlyle, Blackstone Bid for First Republic: Report Jun 17, 2009
NEW YORK (Reuters) - Carlyle Group and Blackstone Group LP are leading an investor group that is bidding to acquire First Republic Bank, a private banking unit of Bank of America Corp , Bloomberg News said on Tuesday, citing three people familiar with the matter. The private equity firms may partner with First Republic Chairman James Herbert, the report said, citing one of the people. (ABC News -- Wire)
Bank of America says it's close to $34 billion goal Jun 3, 2009
The bank has said it wants to sell Columbia Management and 00000037 First Republic Bank to shore up money for regulators. I 00004000 t did not mention those units in Tuesday's press release. (Fresno Bee -- Lifestyle)
BofA raises $26B for fed buffer May 29, 2009
The company (NYSE:BAC) reiterates that it could raise more funds by selling assets such as First Republic Bank, a San Francisco-based bank, and entering into joint ventures. Early this month, the federal government told BofA it needed to raise $33. (Triad Business Journal, NC)
Bofa's $26b Capital Jolt May 28, 2009
The company also plans to sell First Republic Bank and Columbia Management Group. "If people had said six months ago that the banks could raise this much capital, people would have laughed," said Jeffrey Schappe, chief investment officer at BB&T Asset Management in Raleigh, NC. "Obviously there is dilution, but the fear for survival is gone.". (New York Post -- Business)
BofA Boosts Capital by $5.9B Via Share Exchange May 28, 2009
9 billion shortfall, including potential sales of non-strategic units like First Republic Bank and Columbia Management Group. Bank of America also said it would pursue joint ventures to help improve its capital base. (ABC News -- Wire)
BofA raises $13.5B in stock sale May 22, 2009
The bank, which has said it plans to sell First Republic Bank of San Francisco, recently raised $7. 3 billion from the sale of a 5. (Wichita Business Journal, KS)
Ken Lewis: Economy Now Hitting Bottom May 21, 2009
3 billion from the sale of part of its stake in China Construction Bank Corp. It has said it may sell its Columbia asset management unit and the First Republic Bank unit, which it inherited when it bought Merrill. Regulators said that in a severe downturn, Bank of America could face a potential $136. (Newsmax)
Bank of America bolsters capital May 20, 2009
The lender is considering selling its Columbia Funds asset management group and First Republic Bank, a private bank acquired through its purchase of Merrill Lynch. Bank of America faces potential losses for 2009 and 2010 of $US136. (Sydney Morning Herald -- Business)
B of A sells $7.3-billion China Construction stake May 15, 2009
The bank previously said it planned to sell its First Republic Bank unit, which it inherited when it bought Merrill Lynch & Co. Those sales could help raise $10-billion (U.S.). Another $17-billion will likely be raised through the issuance of common stock, and the rest of the capital could come from cash flow from operations in the coming quarters, Bank of America has said. (Globe and Mail -- Business)
WSJ: BofA raises $7.3B in China Bank sale May 13, 2009
The bank recently announced it already plans to sell First Republic Bank, a San Francisco-based bank. Reader Comments. (Charlotte Business Journal, NC)
BofA shedding prestige bank to raise capital May 10, 2009
First Republic Bank of San Francisco, which caters to well-off clients in the Bay Area and beyond, could soon have a new owner - its third in less than two years. Images. (San Francisco Chronicle -- Business)
BofA officials lay out plans to raise capital, repay TARP loan May 9, 2009
It previously said it planned to sell its First Republic Bank unit, which it inherited when it bought Merrill Lynch. Those sales could help it raise $10 billion. (USA Today -- Money)
BofA setting strategy after stress tests May 9, 2009
The bank recently announced it already plans to sell First Republic Bank. BofA also detailed some areas it disagrees with the Federal Reserve s conclusions. (Charlotte Business Journal, NC)
Lewis: Bank of America will be able to meet stress-test needs May 9, 2009
Lewis said the assets BofA could sell could include its Columbia Management investment division as well as First Republic Bank of San Francisco. Some accounting adjustments also will help. (Charlotte Business Journal, NC)
READ: Bank of America's press release May 9, 2009
" Price said that the company could increase the Tier 1 common ratio in a number of ways. He said the company intends to sell common stock and/or convert existing privately held preferred stock into common shares. Bank of America has already announced it will sell First Republic Bank and is considering the sale of several other business units including Columbia Management. It may also consider several joint ventures. "Our intention will be to reach the government's target on our own without... (USA Today -- Money)
BofA CEO Lewis Lays out Plans for Bank's Future May 9, 2009
It previously said it planned to sell its First Republic Bank unit, which it inherited when it bought Merrill Lynch hose sales could help it raise $10 billion. Another $17 billion will likely be raised through the issuance of common stock, including through converting at less than face value some preferred shares held by private investors. (ABC News -- Wire)
Banks move fast to overcome stress test flaws May 8, 2009
The Bay Area's second largest bank plans to raise an additional $10 billion by selling assets or businesses, including Columbia Management, its mutual fund operation, and First Republic Bank of San Francisco, which it acquired along with Merrill Lynch. BofA expects to raise the remaining $7 billion through earnings improvement in the second and third quarters of this year and "various other items." The company explicitly said it will not seek additional funds from the government or convert the... (San Francisco Chronicle -- Business)
Graded On A Curve May 7, 2009
As The Post first reported, BofA is in the process of selling Columbia Management and is also hawking First Republic Bank. At this point, it's unclear what sort of pressure might be applied to the banks' management given the possibility that the government might have to inject more capital into them. (New York Post -- Business)
Bank of America needs $34-billion in capital: source May 7, 2009
Bank of America has also said it may sell its First Republic Bank business. If it cannot sell enough assets, the bank might have to convert some of the earlier government aid into common stock, making the government one of its biggest shareholders. (Globe and Mail -- Business)
BofA, Citi, Wells need capital under stress tests May 7, 2009
It might also sell its Columbia asset management unit, and has said it may sell its First Republic Bank business. WELLS FARGO, CITI, GMAC. (Yahoo News -- Top Stories)
Asset sales could be a first step, analysts say Mar 14, 2009
It is reportedly exploring the sale of First Republic Bank, a private-banking and wealth-management firm based in San Francisco that Merrill Lynch acquired for $1. 8 billion in 2007. (Charlotte Business Journal, NC)
Asset Triage At BofA Mar 6, 2009
Already, the Charlotte, NC-based bank is reportedly in the midst of shopping its private-bank First Republic Bank, and sources said the asset sales might not stop with Columbia. One banker speculated that BofA's stake in China Construction Bank andwealth-management unit US Trust could also be monetized if the bank needs to raise funds. (New York Post -- Business)
Report: BofA seeks to sell First Republic Feb 26, 2009
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Bank of America puts First Republic on block to cut mounting losses Feb 26, 2009
Bank of America Corp. hopes to sell First Republic Bank as it struggles to preserve capital amid mounting losses, according to a report in the Wall Street Journal. Get Quote. (San Francisco Chronicle -- Business)
Bank of America Mulls Sale of Ex-Merrill Unit Feb 26, 2009
The private bank, First Republic Bank, was purchased by Merrill for $1. 8 billion in September 2007 to bolster the securities company's wealth-management and banking operations. (ABC News -- Wire)
