A midsize flight from Nasdaq to the Big Board

Article Abstract:

Wilmington Trust Corp (Wilmington, DE) has followed other Philadelphia-area companies in listing its stock on the New York Stock Exchange. Wilmington Trust had been listed on Nasdaq since the all-electronic exchange opened in 1970. Eighty six Philadelphia-area companies are now listed on NYSE, and of those, over 20% moved to NYSE from Nasdaq in the 1990s. Wilmington Trust Chairman Ted T. Cecala was willing to pay the extra $10,000 annual fee for a New York Stock Exchange listing, because NYSE employs specialists to prevent wild stock swings.

Commercial Banking, Delaware, Commercial banks, Abstract, WILM, Wilmington Trust Corp.

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Citizens lines up its latest bank deal

Article Abstract:

The Rhode Island Company, Citizens Bank that is working to establish as a major player in the Philadelphia market, has agreed to buy Roxborough-Manayunk Bank and its 15 branches for $136 million. The smaller bank has about $550 million in deposits and $320 million in loans at its branches, which are concentrated along the western edge of Philadelphia.

Acquisitions & mergers, Banking industry, Mergers, acquisitions and divestments, Company acquisition/merger, Securities, Company securities, Citizens Bank of Americus, Roxborough-Manayunk Federal Savings Bank

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