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Mercantile Bank Corporation Announces Completion of Merger with Eastern Michigan Financial Corporation
Prnewswire· 2025-12-31 21:00
Core Viewpoint - Mercantile Bank Corporation has successfully completed its merger with Eastern Michigan Financial Corporation, enhancing its ability to serve Michigan's communities and businesses [1][3]. Group 1: Merger Details - The merger will see Eastern Michigan Bank operate alongside Mercantile Bank until the first quarter of 2027, after which a consolidation is planned, pending regulatory approvals [2]. - Eastern shareholders will receive $32.32 per share and 0.7116 shares of Mercantile common stock for each share of Eastern common stock [3]. Group 2: Company Overview - Mercantile Bank Corporation, based in Grand Rapids, Michigan, now includes Eastern Michigan Bank, creating one of the largest Michigan-based banking organizations with total combined assets of approximately $6.9 billion [4]. - The combined institutions aim to provide personalized financial products and services, emphasizing exceptional service and community commitment [4].
Electric Metals (USA) Limited Announces Continuance to the State of Delaware
Accessnewswire· 2025-12-30 23:15
Core Viewpoint - Electric Metals (USA) Limited has successfully transitioned from a British Columbia corporation to a Delaware-domiciled U.S. corporation, enhancing its operational framework under the Delaware General Corporation Law [1] Group 1 - The company has completed its previously announced continuance, which is a significant corporate restructuring move [1] - The registered office of Electric Metals is now located in Wilmington, Delaware, reflecting its new corporate status [1]
Eastern International Ltd. Entered into Contract for its First Photovoltaic Power Generation Construction Project With a Total Contract Price of RMB 42.5 Million (approximately US$ 6.04 million)
Prnewswire· 2025-12-24 13:30
Core Viewpoint - Eastern International Ltd. has made significant progress in expanding its business into the new energy sector by entering a construction contract for a photovoltaic power generation project [1][3]. Group 1: Contract Details - Guizhou Tianrun, a wholly-owned subsidiary of Eastern International, has signed a construction contract with the Weifang Branch of CSCEC Southwest Architecture & Design Institute for the Hebei Laiyuan 300 MW Centralized Photovoltaic Power Generation Project [1][2]. - The contract involves Guizhou Tianrun acting as a subcontractor for Phase I, which is a 50 MW project, with a total contract value of RMB 42.5 million (approximately US$ 6.04 million) [2]. - The scope of work includes foundation works, installation of photovoltaic mounting structures, module installation, wiring, and supply of auxiliary materials, with construction expected to start before December 31, 2025 [2]. Group 2: Business Expansion and Strategy - The commencement of this project marks a key milestone in the company's strategy to engage in large-scale clean energy projects, reflecting its commitment to supporting the green transformation of the regional energy structure [3]. - The company aims to leverage its professional engineering and construction team to ensure high-quality and timely delivery of services in the new energy sector [3]. Group 3: Company Overview - Eastern International Ltd. is a holding company incorporated in the Cayman Islands, providing domestic and cross-border professional logistic services through its subsidiaries [4]. - The company operates a network that includes 7 wholly-owned subsidiaries, 5 warehouses/logistic centers, and 3 branch offices across key cities in mainland China, Hong Kong, Southeast Asia, and Central Asia [4].
Richard Tyson, Jr. Announced As A Senior Vice President, Wealth Relationship Manager Of Cambridge Trust Wealth Management, A Division Of Eastern Bank
Businesswire· 2025-12-18 18:30
Group 1 - Rick Tyson has been appointed as Senior Vice President, Wealth Relationship Manager at Cambridge Trust Wealth Management, bringing over 25 years of experience in integrated wealth management services [1][2] - Cambridge Trust Wealth Management is focused on outstanding client service and expertise in financial planning, investment management, trusts and estates, and private banking [4] - Eastern Bank, the parent company of Cambridge Trust Wealth Management, has approximately $25.5 billion in assets as of September 30, 2025, and offers a full range of banking and wealth management solutions [5] Group 2 - Rick Tyson's previous roles include Vice President, Senior Client Development Officer at Fiduciary Trust Company, where he provided corporate trustee services and investment management to high net worth individuals [2] - The company emphasizes a holistic approach to managing clients' financial well-being, integrating various services such as banking, financial planning, and investment management [3][4] - Eastern Bank has made over $240 million in charitable giving since 1994, highlighting its commitment to community support [5]
BASF and OQEMA Ink Distribution Deal in Central and Eastern Europe
ZACKS· 2025-12-18 15:07
Core Insights - BASF SE (BASFY) has announced a new distribution partnership with OQEMA to supply polymer dispersions and additives for construction and architectural paints and coatings, effective from January 1, 2026, covering selected Central and Eastern European countries [2][8] Group 1: Partnership Details - The collaboration aims to integrate BASFY's innovative solutions with OQEMA's strong local presence, extensive sales network, technical expertise, and storage facilities [3] - Customers will benefit from swift deliveries, prompt technical advice, and a transition towards more sustainable and high-performance formulations [4] Group 2: Market Impact - The partnership is positioned to support innovation and growth in the Central and Eastern European paints and coatings market, covering 14 countries [5] - Both companies share a commitment to quality, reliability, and sustainable development, aiding customers in transitioning to a circular ecosystem [5] Group 3: Financial Performance - BASFY's shares have gained 21.9% over the past year, contrasting with the industry's decline of 14.5% [5]
The Eastern Company Declares 342nd Consecutive Quarterly Cash Dividend
Accessnewswire· 2025-12-17 19:38
Core Viewpoint - The Eastern Company has declared a quarterly cash dividend of $0.11 per share, marking its 342nd consecutive quarterly dividend [1] Group 1 - The dividend is payable on March 13, 2026, to common shareholders of record as of February 13, 2026 [1]
Mercantile Bank Corporation and Eastern Michigan Financial Corporation Announce Receipt of All Required Regulatory Approvals for Pending Merger
Prnewswire· 2025-12-16 23:23
Core Viewpoint - The Federal Reserve Bank of Chicago has approved the merger between Mercantile Bank Corporation and Eastern Michigan Financial Corporation, marking a significant step towards the completion of the merger process [1][3]. Group 1: Merger Details - Mercantile and Eastern have entered into a Merger Agreement, where Eastern will merge into Shamrock Merger Sub LLC, a subsidiary of Mercantile, which will then merge into Mercantile itself [2]. - Following the merger, Mercantile will temporarily operate as a two-bank holding company, with plans to consolidate Eastern Michigan Bank into Mercantile Bank by the first quarter of 2027, pending regulatory approvals [2]. - The merger is expected to be completed on December 31, 2025, subject to Eastern shareholder approval and customary closing conditions [3]. Group 2: Leadership Comments - Ray Reitsma, President and CEO of Mercantile, expressed satisfaction with receiving all necessary regulatory approvals and emphasized the merger's potential to create value for shareholders, customers, and communities [4]. - Willam Oldford, President and CEO of Eastern, shared enthusiasm for the merger and highlighted the opportunity to enhance products and services for customers [4]. Group 3: Company Profiles - Mercantile Bank Corporation, based in Grand Rapids, Michigan, has approximately $6.3 billion in assets and is one of the largest Michigan-based banks, providing a range of financial products and services [5]. - Eastern Michigan Financial Corporation, based in Croswell, Michigan, operates 12 branches and has $505 million in assets, holding the 1 deposit market share among community banks in its primary market [6].
Eastern Bank Named #1 SBA Lender in Massachusetts for the 17th Year in a Row
Businesswire· 2025-12-09 18:30
Core Insights - Eastern Bank has been recognized as the top lender for SBA 7(a) loans in Massachusetts for 17 consecutive years, reflecting its commitment to supporting local businesses [1][3]. Company Overview - Eastern Bank, founded in 1818, is the leading local bank in Greater Boston with over 110 locations serving eastern Massachusetts, southern and coastal New Hampshire, Rhode Island, and Connecticut [5]. - As of September 30, 2025, Eastern Bank had approximately $25.5 billion in assets and offers a full range of banking and wealth management solutions [5]. - The bank has a strong community focus, having contributed over $240 million in charitable giving since 1994 [5]. SBA Lending Performance - In the most recent fiscal year, Eastern Bank originated 290 SBA 7(a) loans totaling approximately $43.5 million, helping businesses that may not qualify for conventional loans [3]. - The bank's Equity Alliance for Business program supports women and entrepreneurs of color, enhancing its SBA lending activity [3]. Customer Impact - A real estate investor, Greg Banks, successfully purchased a home staging business with the help of an SBA 7(a) loan from Eastern Bank, highlighting the bank's role in facilitating business ownership [4].
Electric Metals Confirms Non-Binding MOU Regarding Corcoran Canyon Property
Accessnewswire· 2025-12-08 23:00
Core Viewpoint - Electric Metals (USA) Limited has confirmed the existence of a memorandum of understanding (MOU) regarding the potential sale of its Corcoran Canyon silver-gold property in Nevada, which was announced by an unrelated third party and not previously disclosed by the Company [1] Group 1 - The MOU is dated December 4 and was executed on December 5, 2025 [1] - The agreement is non-binding, non-exclusive, and can be cancelled by either party at any time [1] - The MOU is preliminary and subject to negotiation and execution of a definitive agreement [1]
China Eastern Airlines Launches New 'Shanghai–Auckland–Buenos Aires' Route, Building 'Air Bridge' on Pacific
Businesswire· 2025-12-08 05:48
Core Points - China Eastern Airlines (CEA) launched a new route connecting Shanghai, Auckland, and Buenos Aires on December 4 [1] - The inaugural flight utilized a themed aircraft named "National Museum of China" and carried 282 passengers on a journey of 20,000 kilometers [1] - This new route represents the first direct flight from Shanghai to a major city in South America, establishing a new "southbound corridor" across the Pacific [1] - The route provides an alternative to traditional transfer routes that typically go through Europe or North America [1]