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LOCAL EDITION ANALYTICS Customers Bancorp Acquires Acacia Federal IN A DEAL THAT'S EXPECTED TO CLOSE DURING THE FOURTH QUARTER OF 2012, THE BANK HAS ENTERED INTO A PURCHASE AGREEMENT FOR $65 MILLION. PENNSYLVANIA // Customers Bancorp, Inc., is set to acquire Acacia Federal Savings Bank from Ameritas Mutual Holding Company. Bancorp, the parent company Jay S. Sidhu, chairman and CEO of Bancorp and Customers Bank. "From our perspective, Customers Bank is a great partner to ensure that our customers continue to receive personalized service across all channels and have access to innovative bank products and technology," said James Barber, chairman and CEO bers, Meritage's recently released survey also catalogs the company's closings and backlog figures. ARIZONA // Arizona-based Meritage Homes has reported second-quarter data that shows eight consecutive months of year-over-year increases in orders for the company. In addition to home orders num- and CEO of Meritage, comment- ed on the company's findings, stating, "Our quarter-end back- log has swelled by 62 percent from one year ago, increasing our confidence that 2012 will be a year that puts Meritage on its way to achieving more normal- ized operating results." Steven J. Hilton, chairman of $2-billion-asset Customers Bank, will acquire all of the stock of Acacia Federal from Ameritas for a consideration of $65 million. Bancorp will issue its voting and non-voting com- mon stock for about $45 million at 115 percent of GAAP book value at time of closing. Approximately $20 million of Capital Economics Wins Prestigious Award for Eurozone Study GARNERING THE WOLFSON ECONOMICS PRIZE, THE COMPANY'S TEAM TAKES TOP HONORS FOR ITS SOLUTION- ORIENTED LOOK AT GLOBAL ECONOMIC ISSUES. Tier 1 qualifying non-cumulative Perpetual Preferred Stock will be issued by Bancorp to Ameritas at a rate of 3.72 fixed for the first five years. As of closing, Ameritas will hold 9.9 percent of voting stock of Bancorp. It will also have a 19.9 percent economic ownership and will own all preferred stock issued by Bancorp. Bancorp will not acquire any LONDON // Consultancy Capital Economics has announced one of its teams won the prestigious 2012 Wolfson Economics Prize, an award second only to the Nobel Prize, for a study on the breakup of the eurozone. The team, led by Roger Bootle, non-performing loans or other assets it deems to be high risk. It will also not be responsible for severance obligations, charges as- sociated with early termination of O.S.I. technology contract, or lease termination charges on Acacia Federal's corporate headquarters building beyond one year. Acacia Federal had about $1 billion in assets as of March 31. It also possessed a deposit, lending, and mortgage operation covering the greater Washington, D.C., market area and about $125 mil- lion in tangible common equity. "We are excited about having Ameritas as a partner and look forward to providing the many individuals, families, and small and medium-sized business customers of Acacia Federal Savings Bank with our 'high touch, high tech' bank services and products, " said 66 | THE M REPORT of Acacia Federal. "There will be new growth and expansion pros- pects for Customers Bank in the Washington, D.C., market." Closing is expected to take place in Q4 2012. At closing, Bancorp expects to be about a $3 billion asset bank holding com- pany. The acquisition will expand its number of offices to 15. Meritage Shows Strong Q2 Home Order Data NUMBERS RECORDED DURING THE SECOND QUARTER REPRESENT THE EIGHTH CONSECUTIVE MONTH OF HOME ORDER INCREASES FOR THE HOMEBUILDER. orders reached 1,353 units for the quarter ended June 30, repre- senting a 49 percent rise year- over-year. Home order value shot up by 63 percent versus 2011 numbers, totaling $385,829. Meritage closed 1,042 units, According to Meritage, home demonstrating an uptick of 22 percent year-over-year. In terms of revenue, Meritage's home clos- ings rose 28 percent from totals recorded in 2011, hitting $281,340 for the second quarter of 2012. The company's backlog of won the £250,000 prize for its essay answer to the question "If member states leave the Economic and Monetary Union, what is the best way for the economic process to be man- aged to provide the soundest foundation for the future growth and prosperity of the current membership?" Capital Economics' submis- sion, titled "Leaving the euro: A practical guide," was one of more than 400 entries submitted by various research companies, academic economists, and re- search teams of banks and other financial institutions. The judges unanimously agreed units to end the quarter was 1,611, which indicates a 62 percent increase year-over-year. By value, Meritage's backlog was 75 percent higher on a year-over-year basis, ringing in at $457,650 to conclude the second quarter. that Capital Economics' answer was the "most credible solution" to the question of how to orderly exit from the eurozone. The full essay explained that electronic payment methods and euros could be used until new notes and coins are introduced. The exiting country could redenominate its debts into the new currency and announce SECONDARY MARKET ANALYTICS SERVICING ORIGINATION