April 16th, 2014 by admin | Permalink
FNB Corp. has announced plans for yet another acquisition, as the Hermitage bank continues to grow by buying smaller institutions.
OBA Financial Services Inc., the Germantown, Md.-based parent of OBA Bank, has agreed to an all-stock transaction valued at about $23.56 per share, or $94 million, according to an announcement this morning. The value was calculated using the 20-day average closing stock price of FNB Corp.
The deal is expected to add about $390 million in total assets, $290 million in total deposits, $300 million in loans and six banking locations, according to the announcement.
FNB, which operates under the First National Bank banner, last year expanded its Maryland...
April 12th, 2014 by admin | Permalink
The departments of Commerce and Housing and Urban Development and the Coast Guard
are planning to outsource their financial management systems in the coming year.
These three agencies have only one choice in how they modernize their financial
management systems through a federal shared services provider.
The Office of Management and Budgets March 2013
policy created a federal first priority for agencies to modernize their
financial management systems through a shared services provider.
But this second attempt by OMB to move agencies to financial management shared
services is fraught with the same obstacles of a decade ago.
In the mid-2000s,...