Netbank (WKN 907126)

ist netbank übernommen wurden?

NetBank Reaches Agreement With EverBank for Sale of Select Assets and Assumption of Deposit Liabilities
Transaction is Expected to Close by End of June 2007; NetBank Begins Immediate Shut-Down of Third-Party Mortgage Origination Business
ATLANTA, May 21, 2007 (PRIME NEWSWIRE) -- NetBank, Inc. (Nasdaq:NTBK), parent company of NetBank (www.netbank.com), an online financial services provider and national prime mortgage lender, today announced that the bank has executed an asset purchase and liability assumption agreement with EverBank, an FDIC-insured, federal savings bank and subsidiary of EverBank Financial Corp., a privately held financial services holding company headquartered in Jacksonville, Fla., with approximately $4.7 billion in assets. The purchase price represents a discount to the current carrying value of the assets and liabilities being conveyed, and NetBank anticipates recording a loss on sale of between $60 and $70 million at close.

The transaction is expected to close by the end of June 2007, subject to regulatory approval, and relates to the broader initiative the company began earlier in the year to consider strategic alternatives that would allow management to serve the interests of its customers, while protecting the company's equity position from continued erosion. The company has been under extreme financial pressure for more than a year due to a difficult mortgage origination market, a flat yield curve environment and other factors. These pressures have resulted in large operating losses that have significantly reduced the company's capital position and prompted heightened regulatory oversight.

NetBank worked closely with regulators as it evaluated various opportunities. Regulators have been increasingly concerned about the bank's capital and earnings trends and advised management to find an alternative immediately that covered all of the bank's deposit obligations. NetBank and EverBank expect to execute a separate transition service agreement where NetBank will continue to support the deposit relationships after the close until EverBank converts these relationships to its core online banking platform sometime in the third quarter.

The primary assets and liabilities in the transaction include:



* The bank's held for investment loan portfolio;
* All of the assets and liabilities of NetBank Business Finance, the
  bank's small business equipment leasing and financing operation;
* The bank's $2.5 billion in core and brokered deposits; and
* The NetBank brand and related trademarks and service marks.

Management Commentary

"In spite of our best efforts to improve the company's operating profile through the restructuring plan we undertook last year, our company has remained very vulnerable and at risk due to the weakened fundamentals of our core businesses," said Steven F. Herbert, chief executive officer, NetBank, Inc. "Our mortgage operations continue to struggle in the face of a highly competitive marketplace, especially the third-party origination channel. Bank earnings have also fallen sharply as we have had to de-leverage the balance sheet in order to maintain risk-based capital ratios within appropriate regulatory guidelines.

"Our effort to manage and address these pressures was further complicated by the delay of the annual audit and greater day-to-day regulatory oversight and involvement.

"The board of directors and executive management team have spent considerable time and effort over the past several months reviewing every opportunity presented to us as well as working to create others," Herbert continued. "In contemplating any action, we had the interests of our shareholders, customers and employees firmly in mind.

"The transaction we are announcing today monetizes a significant portion of the company's assets and will allow the bank to fulfill all of its deposit liabilities. EverBank offers a full line of products with industry leading deposits rates. It is better positioned than almost anyone else in the online banking marketplace to build on the value proposition that our customers came to us for in the first place.

"By transferring the deposit relationships and resolving the chief concern of regulators, we are now positioned to move forward with other restructuring initiatives, such as the shutdown of our third-party mortgage origination business, NetBank Funding Services.

"Our remaining businesses will include our mortgage servicing operation, along with our retail prime mortgage franchise, Market Street Mortgage," Herbert concluded. "We are actively evaluating their long-term strategic alternatives as well as those of the parent company as a whole. We have also retained our CMC claim and the deferred tax asset that we generated in the fourth quarter of 2006. After consummation of the EverBank transaction, we will focus intensely on prosecuting the CMC sureties and pursuing our claim against them, which we now estimate at $150 million."

Additional Details & Conference Call Information

NetBank and its affiliate, MG Reinsurance, a captive mortgage reinsurance operation, are finalizing additional agreements with EverBank. EverBank intends to acquire the bank's held-for-investment portfolio of mortgage servicing rights ("MSRs"). The loans associated with these MSRs currently have an underlying principal balance of $3.2 billion. EverBank also plans to purchase select assets and assume associated liabilities of MG Reinsurance.

NetBank has begun a shut down of its third-party conforming mortgage business, NetBank Funding Services. The process is expected to be complete in approximately 60 days. The unit has stopped taking locks on loans from its correspondent and broker partners but will honor locks in its pipeline through specified dates that the company will communicate today.

NetBank initiated litigation in 2002 over lease receivables originated by Commercial Money Center, Inc. ("CMC"). The CMC lease receivables that NetBank had purchased as an investment carried insurance policies or surety bonds guaranteeing payments in full in the event of a shortfall. NetBank pursued collection under these policies and bonds shortly after it ceased receiving payments on these investments. To date, the sureties -- which include Illinois Union Insurance Company, Royal Indemnity Company and SAFECO Insurance Company of America -- have not honored their obligations.

Management has scheduled an analyst-investor call to discuss the EverBank transaction. The call will be held today at 11 a.m. EDT. Interested parties may dial in or listen via an audiocast on the company's Web site.



Call Title:      NetBank Investor Call
Call Leader:     Steven F. Herbert
Pass Code:       NetBank
Domestic:        888-677-1895
International:   +1-210-795-9306
One-Week Replay: 866-511-1889

About NetBank, Inc.

NetBank, Inc. (Nasdaq:NTBK) is a financial holding company that operates a family of businesses focused primarily on consumer and small business banking, as well as conforming mortgage lending. The company's businesses have a shared value proposition of providing consumers in select markets an attractive combination of price, service and experience through skilled associates and advanced technology systems. Retail brands include NetBank and Market Street Mortgage. For more information, please visit www.netbankinc.com.

 

Forderungen und Verbindlichkeiten bilanziert haben, die tatsächlich nicht existieren, darauf hin war der Kurs eingebrochen; im Juni müssten jedenfalls Stellungnahmen bzw. News kommen.  

absichtlich den Kurs so runter gedrückt hat um eine Übernahme möglich zu machen; zumindest interessant was noch kommt.  

babelfish übersetzt:
...Nach consummation der EverBank Verhandlung, konzentrieren wir intensiv auf das Verfolgen der Sicherheiten CMC und das Ausüben unseres Anspruches gegen sie, die wir jetzt bei $150 million." schätzen; Zusätzliches Details & Konferenz-Anruf-Informationen NetBank und sein...

 

 

0,255  +16,97%  
+0,037
 

also wenn ich xl generation sehe oder worldwater, dann scheint die stimmung an den märkten immer bullischer zu werden...

Börse
NASDAQ

Aktuell
0,35 USD

Zeit
14.06.07  20:47

Diff. Vortag
+25,00 %

Tages-Vol.
1,44 Mio.

Gehandelte Stück
4,5 Mio.

Geld
0,35

Brief
0,355

Zeit
14.06.07  20:47

Spread
1,408%

Geld Stk.
39.900

Brief Stk.
200

 

bis morgen!  

USD 0,36 = Euro 0,27  

0,38USD=0,285Euro?  

guten morgen

Wechselkurs = 1,3321
aber SK USA war 0,36 und nicht 0,38 und daher 0,27 Euro

Heute dürften wir trotzdem die Euro 0,30 in Angriff nehmen; mein KZ USA = 0,46  

alles klar, danke für die Info! Was sagen die Futures?  

oder hatte ich gestern ein bier zu viel? ;=)

Schluss Vortag
0,28

Eröffnung
0,29

Hoch
0,38

 

Aktuell
0,36 USD

Zeit
15.06.07  15:36

Diff. Vortag
+9,09 %
 

bin gerade zu Hause angekommen; Aufwärtstrend setzt sich fort wie ich sehe.

Bid: 15:52:21 0,28  26.406  
Ask: 15:52:21 0,29  5.000  
 

auf zur 1usd! ;=)(Dilistinggefahr abgewendet)

Börse
NASDAQ

Aktuell
0,3696 USD

Zeit
15.06.07  15:43

Diff. Vortag
+12,00 %

Tages-Vol.
118.992,31

Gehandelte Stück
336.209

Geld
0,3603

Brief
0,37

 

 

 

 

habe aufgestockt, denke die nächsten tage oder wochen die 1 usd durchbrochen?!
Aktuell
0,39 USD

Zeit
15.06.07  16:10

Diff. Vortag
+18,18 %

Tages-Vol.
373.224,37

Gehandelte Stück
995.821
 

wie bist du eigentlich auf netbank aufmerksam geworden?  

durch einen user von ariva, guter kumpel! zuerst war ich skeptisch, da man ja nie in ein fallendes messer greifen soll, aber die news sind gut, das volumen steigt und die stimmung für pennystocks ist 1a, man sieht immer mehr turnarounds an der nasdaq, die wende (aufschwung)ist eindeutig da und die investitionsbereitschaft steigt usw...

lg  

der wert erinnert mich irgendwie an broadvision, in der ersten phase waren täglich 10-20% immer gewinn, später kamen dann erst die großen sprünge...da wird doch step by step eingesammelt, der kurs steigt echt noch in zeitlupe meiner meinung, da könnten noch viel größere sprünge in zukunft auf uns zu kommen, wenn da überraschende news veröffentlicht werden...bis ende juni soll nun was vorgelegt werden?

Aktuell
0,3777 USD

Zeit
15.06.07  20:11

Diff. Vortag
+14,45 %

Tages-Vol.
853.222,05

Gehandelte Stück
2,3 Mio.

Geld
0,3701

Brief
0,377
 

Recent Trades - Last 10
Time Ex Price Change Volume
18:56:01 Q 0.36 +0.03 500
17:17:57 Q 0.36 +0.03 1,842
17:10:55 Q 0.36 +0.03 2,500
16:21:00 Q 0.3723 +0.0423 98,191  
16:21:00 Q 0.3723 +0.0423 98,191  
16:10:55 Q 0.3398 +0.0098 180
16:06:06 Q 0.3398 +0.0098 943
16:01:18 Q 0.3398 +0.0098 180
16:01:17 Q 0.3398 +0.0098 1,100
16:01:07 Q 0.33 - 300
 

Danke an waxweazle für die tolle Chartanalyse!