GRAND RAPIDS, Mich. and TAMPA, Fla., June 16, 2021 /PRNewswire/ -- The Boards of Directors of Lake Michigan Credit Union ("LMCU") and Pilot Bancshares, Inc, (OTCQX: PLBN), the holding company for Tampa-based Pilot Bank and National Aircraft Finance Company ("NAFCO") (collectively "Pilot"), today announced the execution of a definitive agreement by which LMCU will acquire Pilot in an all-cash transaction. In connection with the transaction, shareholders of Pilot will receive $6.25 in cash for each share. LMCU will also cash out the outstanding options at Pilot at the difference between the strike price and the per share cash consideration to Pilot shareholders.

The Boards of Directors of both financial institutions have unanimously approved the purchase, which will bring LMCU's footprint to 19 branches in Florida and total assets of over $1.7 billion in the state. The combined entity will have over $11 billion in assets across its Michigan and Florida operations with a total of 65 branch locations and nine mortgage offices.

Continued Jelinski, "The combination of the two operations will further enhance LMCU's product offerings for our members through Pilot's aircraft finance business and SBA origination channels, while also adding a strong core deposit base in Hillsborough, Polk and Pinellas counties. We look forward to welcoming ...

First Bancorp (Nasdaq: FBNC), the parent company of First Bank, and Select Bancorp, Inc. ("Select") (Nasdaq: SLCT), the parent company of Select Bank and Trust Company ("Select Bank"), announced today the signing of a definitive merger agreement under which First ...

This week I am returning to the idea of shareholder yield. Last time we talked about combing high shareholder yields combined with insider buying. One of three picks, Mannatech (MTEX), announced a tender offer this morning, and the stock has ...

Most of you have been with me for some time now and are aware that I spend a lot of time testing ideas and strategies. I get lots of ideas, and as Victor Niederhoffer once said," If it can be ...

I read the headlines this morning, and it's really hard not to laugh out loud at the mainstream media and analyst community and see what they find surprising.

Everyone is surprised that retail sales do not match last month's. Sales ...

I read the headlines this morning, and it's really hard not to laugh out loud at the mainstream media and analyst community and see what they find surprising.

Everyone is surprised that retail sales do not match last month's. Sales ...

This morning I am just taking a walk through the markets kicking tires and turning over rocks in the constant search for opportunities. Rather than bore you with more data from the Fed (as important as that is in the ...

This morning I am just taking a walk through the markets kicking tires and turning over rocks in the constant search for opportunities. Rather than bore you with more data from the Fed (as important as that is in the ...

GREEN BAY, Wis. and MANISTIQUE, Mich., April 12, 2021 /PRNewswire/ -- Nicolet Bankshares, Inc. (NASDAQ: NCBS) ("Nicolet") and Mackinac Financial Corporation (NASDAQ: MFNC) ("Mackinac") today jointly announced the execution of a definitive merger agreement, ...

I was thinking about what I should write about this morning over my coffee. My core instinct was to send a two-word edition of eh Friday note that just said: "Do nothing."

Markets have rallied straight up since last March. ...

The Fed has made it clear that they are content to let inflation run a little hot if it keeps the economy moving higher. They had adopted that as policy last year. Deflation has become the real fear for central ...

We saw a much-improved jobs report this morning with 379,000 new jobs created last month. That's well above analyst expectations of 179,000. While some analysts are not happy that 355,000 of these jobs are in leisure and hospitality, I would ...