Citizens Bank

Progress Announces Amended Credit Facility

Retrieved on: 
Thursday, March 7, 2024

BURLINGTON, Mass., March 07, 2024 (GLOBE NEWSWIRE) --  Progress (NASDAQ: PRGS), the trusted provider of infrastructure software, today announced that it has entered into a Fourth Amended and Restated Credit Agreement (the “Amended Credit Agreement”), which provides a revolving credit facility in an aggregate principal amount of $900 million, and replaces the Company’s existing secured credit facilities. The revolving facilities under the Amended Credit Agreement will mature on March 7, 2029. As of the closing date, the Amended Credit Agreement has no term loan facility and there are no revolving credit loans outstanding.  

Key Points: 
  • BURLINGTON, Mass., March 07, 2024 (GLOBE NEWSWIRE) -- Progress (NASDAQ: PRGS), the trusted provider of infrastructure software, today announced that it has entered into a Fourth Amended and Restated Credit Agreement (the “Amended Credit Agreement”), which provides a revolving credit facility in an aggregate principal amount of $900 million, and replaces the Company’s existing secured credit facilities.
  • The revolving facilities under the Amended Credit Agreement will mature on March 7, 2029.
  • As of the closing date, the Amended Credit Agreement has no term loan facility and there are no revolving credit loans outstanding.
  • Progress CFO Anthony Folger stated, “This new credit facility provides more scale and flexibility, both of which are important to support Progress’ continued growth.

Fluent Announces Expected Fourth Quarter and Full-Year 2023 Financial Results

Retrieved on: 
Thursday, February 29, 2024

NEW YORK, Feb. 29, 2024 (GLOBE NEWSWIRE) -- Fluent, Inc. (NASDAQ: FLNT), a leading data-driven performance marketing company, today reported results for the expected fourth quarter and fiscal year ended December 31, 2023.

Key Points: 
  • NEW YORK, Feb. 29, 2024 (GLOBE NEWSWIRE) -- Fluent, Inc. (NASDAQ: FLNT), a leading data-driven performance marketing company, today reported results for the expected fourth quarter and fiscal year ended December 31, 2023.
  • Our full year results also reflect our investments into growing higher quality consumer engagements designed to further establish Fluent as an industry leader in performance marketing.
  • We are creating more effective customer acquisition solutions for our clients, while positioning Fluent as a market leader.
  • Fluent, Inc. will announce in a subsequent press release the date and time of a conference call to discuss its 2023 fourth quarter and full-year financial results, and the means of accessing the call.

FLEETCOR® Upsizes Credit Facility by $600 million; Establishing 10b5-1 Plan to Repurchase Shares

Retrieved on: 
Wednesday, February 7, 2024

The transaction was leverage neutral and results in a $600 million increase in the Company’s capacity under its facilities.

Key Points: 
  • The transaction was leverage neutral and results in a $600 million increase in the Company’s capacity under its facilities.
  • This amendment resulted in an increase to the Company’s revolver from $1.5 billion to $1.775 billion.
  • In addition, the Company increased its borrowings under its Term Loan A facility by $325 million and used those proceeds to paydown its revolver balance.
  • FLEETCOR anticipates using the increased debt facility to drive earnings growth through both M&A and repurchasing FLEETCOR stock in 2024.

MAPay Launches Charitable Apierion Impact Fund To Combat Global Health Inequities and Names Atif Bostic Executive Director

Retrieved on: 
Wednesday, February 7, 2024

VOORHEES, N.J., Feb. 7, 2024 /PRNewswire/ -- MAPay LLC (soon to be Apierion), the global healthcare fintech company revolutionizing healthcare payments and data exchange with a distributed ledger, today announced the formation of a charitable impact fund to combat health inequities worldwide, led by economic development veteran Atif Bostic.

Key Points: 
  • The SDG Impact Fund and Apierion Impact Fund believe that humanity must transition into Regenerative Global Solutions that are adaptable, inclusive, and honorable — where no one is left behind.
  • The SDG Impact Fund and Apierion Impact Fund are committed to mobilizing the world's largest asset and capital resources to achieve prosperity for all.
  • "The Apierion Impact Fund is proud to be a component of the SDG Impact Fund, and we hope to propel our philanthropic efforts to new heights by joining forces," added Atif Bostic, Chief Executive Officer of The Apierion Impact Fund.
  • Atif Bostic is the newly named Executive Director and Lead Impact Steward of The Apierion Impact Fund.

BAFS Announces the Launch of its Borrower Portal, a Platform Designed to Streamline Commercial Lending for Financial Institutions

Retrieved on: 
Tuesday, February 6, 2024

MONROE, La., Feb. 6, 2024 /PRNewswire/ -- BAFS (Business Alliance Financial Services) announced today the launch of its Borrower Portal – a commercial lending platform designed to link commercial lenders directly to borrowers.

Key Points: 
  • MONROE, La., Feb. 6, 2024 /PRNewswire/ -- BAFS (Business Alliance Financial Services) announced today the launch of its Borrower Portal – a commercial lending platform designed to link commercial lenders directly to borrowers.
  • White-labeled with the lending institution's branding, BAFS' Borrower Portal allows borrowers to input loan request information, upload documents, and submit loan applications.
  • "We are so proud to be launching the BAFS Borrower Portal," said Ricky Guillot, CEO at BAFS.
  • Features of the Borrower Portal:
    The Borrower Portal syncs directly with BLAST®, giving borrowers insight into the status of their loan.

Gluware Welcomes Three Tech Veterans to Advisory Board to Support its Growth and Innovation Trajectory as Network Automation Adoption Surges

Retrieved on: 
Wednesday, January 31, 2024

 SACRAMENTO, Calif., Jan. 31, 2024 /PRNewswire/ -- Gluware, Inc., the leader in intelligent network automation, today announced the addition of three highly respected industry veterans to its advisory board, including Frank Fanzilli, Tony Farinacci, and Stephen White.

Key Points: 
  • Their insights are a welcome addition as we continue to innovate and lead in the network automation space."
  • With an impressive career spanning technology and finance, Frank Fanzilli brings invaluable expertise to his role on Gluware's advisory board.
  • The shift from DIY network solutions to streamlined, prebuilt automation is critical," said Tony Farinacci, Advisory Board Member, Gluware.
  • "I am excited to collaborate with Gluware's dynamic leadership team and esteemed advisory board," said Stephen White, Advisory Board Member, Gluware.

Brookline Bancorp, Inc. Chief Operations Officer James Cosman to Retire

Retrieved on: 
Wednesday, January 24, 2024

BOSTON, Jan. 24, 2024 (GLOBE NEWSWIRE) -- Brookline Bancorp (NASDAQ: BRKL) Co-President and Chief Operating Officer Michael McCurdy announced today three key changes affecting leadership positions at Brookline Bancorp, Inc. (the “Company”).

Key Points: 
  • Mona Macero Will Become Chief Digital Officer of Brookline Bancorp, Inc.
    BOSTON, Jan. 24, 2024 (GLOBE NEWSWIRE) -- Brookline Bancorp (NASDAQ: BRKL) Co-President and Chief Operating Officer Michael McCurdy announced today three key changes affecting leadership positions at Brookline Bancorp, Inc. (the “Company”).
  • After fifteen years as the Company’s Chief Operations Officer, James Cosman will retire effective April 1, 2024.
  • With respect to Macero’s appointment, McCurdy stated: “We are fortunate that Mona will assume the position of Executive Vice President and Chief Digital Officer.
  • With Kelly, our operations foundation is solid.”
    Jim Cosman joined the Company in 2009 as Chief Operations Officer.

MIMEDX Announces Improved Capital Structure with New Senior Secured Credit Facilities and Debt Refinancing

Retrieved on: 
Monday, January 22, 2024

MARIETTA, Ga., Jan. 22, 2024 (GLOBE NEWSWIRE) -- MiMedx Group, Inc. (Nasdaq: MDXG) (“MIMEDX” or the “Company”) today announced that it has enhanced its capital structure by refinancing its existing indebtedness and obtaining additional borrowing capacity in support of the Company’s future growth objectives.

Key Points: 
  • MARIETTA, Ga., Jan. 22, 2024 (GLOBE NEWSWIRE) -- MiMedx Group, Inc. (Nasdaq: MDXG) (“MIMEDX” or the “Company”) today announced that it has enhanced its capital structure by refinancing its existing indebtedness and obtaining additional borrowing capacity in support of the Company’s future growth objectives.
  • These new senior secured credit facilities (the “Facilities”), totaling $95 million and due in January 2029, are comprised of a $75 million revolving credit facility and a $20 million term loan facility and were obtained through a syndicate of banks comprised of Citizens and Bank of America, N.A.
  • MIMEDX Chief Financial Officer, Doug Rice commented, “As a result of the Company’s strong financial performance over the last year, we were in the position to strengthen our balance sheet and improve our overall capital structure.
  • We have a deep understanding of the increasingly complex challenges our clients face and a strong track record of helping them succeed.

Citizens Holding Company Announces Sale and Leaseback Transaction

Retrieved on: 
Monday, January 22, 2024

Citizens Holding Company (the “Company”) (OTCQX:CIZN), the holding company for The Citizens Bank of Philadelphia (the “Bank”), today announced it has executed an agreement for sale-leaseback of 3 of its currently owned properties.

Key Points: 
  • Citizens Holding Company (the “Company”) (OTCQX:CIZN), the holding company for The Citizens Bank of Philadelphia (the “Bank”), today announced it has executed an agreement for sale-leaseback of 3 of its currently owned properties.
  • The Company expects to realize a pre-tax gain of approximately $4.5 million (after transaction-related expenses).
  • The current market conditions, combined with the terms of the leaseback agreement, make this a very positive move for the Company both in the near and long term.
  • This sale only strengthens our balance sheet and allows us to continue to pursue organic growth and future transactions that bolster the Company’s existing value.

Citizens Launches Seventh Annual Small Business Community Champion Award Contest

Retrieved on: 
Thursday, January 18, 2024

Today Citizens announced it has opened its annual Small Business Community Champion Award Contest, which will again recognize the positive contributions small businesses make within their communities.

Key Points: 
  • Today Citizens announced it has opened its annual Small Business Community Champion Award Contest, which will again recognize the positive contributions small businesses make within their communities.
  • Citizens created the Small Business Community Champion Award program as part of its ongoing commitment to strengthen local economies and communities.
  • How would you use the Citizens Small Business Community Champion Award to strengthen and sustain your business?
  • (100-word maximum)
    How would you use the Citizens Small Business Community Champion Award to support your community’s growth and their evolving needs and behaviors?