Bank of America invests $2 billion in Countrywide Financial
Bank of America Corp has announced its investment in Countrywide Financial Corporation, one of nation’s largest mortgage lenders, to aid restoration of normal liquidity in the mortgage market. Bank of America will invest $2 billion in the form of a non-voting convertible security fetching 7.25% annually. The security can be converted into common stock at $18 per share. Bank of America, one of the world's largest financial institutions, caters to major business groups and other large corporations providing a full range of banking, investing, asset management, and other financial products and services.
MoneyShow.com partners with Forbes Media
MoneyShow.com, the largest multimedia investment education destination for traders, investors, and financial advisors has announced an online media affiliation with Forbes Media, LLC. The alliance of investors, traders, and financial advisors with MoneyShow.com will now have access to all of the latest investment content provided by Forbes.com and Forbes’s newsletter editors. The website has hundreds of hours of investing education, analysis of market trends, and customized content searches specific to investor's portfolio needs. MoneyShow.com offers a free membership and provides 24-hour access to investment education directly from Wall Street and trading experts.
National Bancshares Corp appoints Schantz as Director
National Bancshares Corp., has announced that its Board of Directors has appointed Victor B. Schantz, president of the Schantz Organ Company, as a director of the company and its subsidiary First National Bank. Schantz has been appointed as a Class I Director with a tenure that will expire in April 2009. John W. Kropf, chairman of the bank, said Schantz’s experience and belief in community banking will help in building the bank. Founded in 1881, National Bancshares Corp. has 14 offices across America and is the parent company for First National Bank.
