$46M

First Citizens launches $46M hostile takeover bid

First Citizens Bank has launched a $46 million hostile takeover of KS Bank, a bank with nine branches in the greater Triangle and Eastern North Carolina. Raleigh-based First Citizens is offering $35 per share in cash, or about $45.8 million, to acquire KS Bank’s corporate parent, Smithfield-based KS Bancorp Inc. First Citizens said it was […]

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BofA fined $46M for ‘cruel’ treatment of mortgage borrowers

A California judge has fined Bank of America Corp. $46 million for its “heartless” and “cruel” treatment of a couple as they struggled to prevent losing their home to foreclosure. In his ruling, U.S. Bankruptcy Court Judge Christopher Klein said the Charlotte-based bank pushed the couple to “battle-fatigued demoralization” during their fight to hang onto […]

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