Danvers Bancorp, Inc. and Beverly National Corporation Sign Definitive Merger Agreement for Acquisition of Beverly National Corporation

Danvers Bancorp, Inc. [NASDAQ: DNBK] (“Danvers”) and Beverly National Corporation [AMEX: BNV] (“Beverly”) today announced the signing of an agreement and plan of merger, pursuant to which Beverly will merge with and into Danvers.

Under the terms of the agreement, Beverly stockholders will receive 1.66 shares of Danvers common stock in exchange for each common share of Beverly. Based on the closing price of Danvers common stock on June 16, 2009, the transaction is valued at approximately $23.04 per share or $61.95 million in the aggregate.

Danvers, the parent company of Danversbank, is a publicly-traded bank holding company with approximately $1.7 billion in assets and 16 branches in Massachusetts in the counties of Essex, Middlesex and Suffolk.

Published: 17 June 2009
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Scotia Economics Sees Double-Digit Decline in Western Canada's Auto Sales

"We have reduced our 2009 Canadian sales forecast to 1.38 million units as the weakness has intensified, alongside a sharp reversal in purchases in British Columbia and Alberta," said Carlos Gomes, Scotiabank Senior Economist and Auto Industry Specialist"Preliminary data through February indicate that sales in these two provinces have plunged 35 per cent year-over-year (y/y), nearly 10 percentage points worse than in the rest of Canada."

Published: 30 March 2009
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Majority of Canadians consider water to be Canada's most important natural resource

<< New study reveals more people concerned about quality and availability of freshwater than oil, fisheries, or forests - yet use 329 litres per day >>

The majority of Canadians (53 per cent) rank freshwater as the country's most important natural resource; ahead of forests (20 per cent), agriculture/farmland (14 per cent), oil (eight per cent) and fisheries (two per cent), according to the 2009 Canadian Water Attitudes Study released today. More than eight in 10 think Canada will have a freshwater shortage problem if we do not pay attention to conservation. But despite this appreciation of the value of freshwater, Canadians continue to waste it at alarming rates, using five times more water per day than they think they do.

Published: 17 March 2009
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CI Financial to acquire Perimeter Financial

CI Financial Corp. ("CI") today announced that its wholly owned subsidiary CI Investments Inc. has entered into a definitive agreement to acquire Perimeter Financial Corp. ("Perimeter"), an operator of alternative trading systems.

Perimeter, through its wholly owned subsidiary Perimeter Markets Inc., operates three alternative trading systems, CBID Institutional, CBID Retail and CBID Futures, which provide transparent marketplaces to trade Canadian fixed-income instruments for institutional and retail customers.

Published: 10 March 2009
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Read more: CI Financial Corp ( CIX )

TD Canada Trust lowers prime lending rate

TD Canada Trust has lowered its prime lending rate by 50 basis points to 2.50 per cent, effective March 4, 2009.

Kelly Hechler, TD Bank Financial Group, (416) 982-2469

Published: 03 March 2009
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TSX   Financial  
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