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10.12.25 - 17:36
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Cambridge Savings Bank Appoints Cal Navatto as Senior Vice President, Senior Asset-Based Lending Relationship Manager (Business Wire)
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CAMBRIDGE, Mass.--(BUSINESS WIRE)--Cambridge Savings Bank (CSB) today announced that W. Calvin “Cal” Navatto has joined the Bank as Senior Vice President, Senior Asset-Based Lending (ABL) Relationship Manager within its Commercial Division. In this role, Navatto will focus on expanding CSB's asset-based lending portfolio, deepening relationships with middle-market companies, and supporting the continued growth of the Bank's ABL business.
Navatto brings decades of experience in commercial finance, business development, and asset-based lending, including senior leadership roles at eCapital Corp., CIT (a subsidiary of First Citizens Bank), and UMB Capital Finance. His career includes sourcing and closing complex ABL and factoring transactions across the Northeast, reestablishing and scaling regional offices, and building strong networks of referral partners.
“We are thrilled to welcome Cal to Cambridge Savings Bank,” said Yvonne Kizner, Head of Asset-Based Lending at CSB. “He is a proven leader w...
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04.11.25 - 21:57
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KBRA Comments on Park National Corporation′s Acquisition of First Citizens Bancshares, Inc. (Business Wire)
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NEW YORK--(BUSINESS WIRE)--#creditratingagency--On October 27, 2025, Newark, OH-based Park National Corporation (NYSE: PRK) ("Park" or “the company”) announced a definitive agreement to acquire Dyersburg, TN-based First Citizens Bancshares, Inc. (FIZN) in an all-stock transaction valued at approximately $317 million, representing 1.68x tangible book value at the time of deal announcement. The transaction is expected to close in 1Q26, pending shareholder and regulatory approvals, with integration anticipated in 3Q26. Upon completion, First Citizens National Bank will merge into The Park National Bank, and the combined company will have approximately $12.7 billion in assets, $9.5 billion in loans, and $10.4 billion in deposits on a pro forma basis and will result in PRK exceeding the $10 billion regulatory threshold. The transaction is expected to be slightly accretive to tangible book value at close with a modest impact on pro forma capital ratios, including TCE of ~11% and CET1 of ~13%, refl...
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27.10.25 - 21:03
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Park National Bank welcomes First Citizens National Bank in strategic partnership (GlobeNewswire EN)
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NEWARK, Ohio and DYERSBURG, Tenn., Oct. 27, 2025 (GLOBE NEWSWIRE) -- Park National Corporation (“Park”) (NYSE AMERICAN: PRK) and First Citizens Bancshares, Inc. (“FIZN”) (OTCEM: FIZN) have signed a definitive merger agreement, pursuant to which FIZN will merge with and into Park (the “parent merger”). Following the parent merger, First Citizens National Bank (First Citizens), the bank subsidiary of FIZN, will merge with and into Park's bank subsidiary, The Park National Bank (the “bank merger”). After closing, First Citizens' CEO and President, Jeff Agee, will lead the new Tennessee Region of Park National Bank. One current FIZN director will join Park's Board of Directors, and Park will maintain First Citizens' current two local community advisory boards. Park will continue First Citizens' strong legacy of community support through local partnerships, investment and engagement, and will maintain First Citizens' philanthropic commitments to organizations across its footprint....
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