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| October 20, 2000
UniCapital Announces Extension of Bank of America Amendment MIAMI--(BUSINESS WIRE)--Oct. 20, 2000--UniCapital Corporation (NYSE:UCP) today announced it has reached an agreement with Bank of America, N.A., its principal financial creditor, to continue through November 6, 2000, the amendment of certain terms of the company's revolving credit facility with Bank of America. UniCapital Corporation provides asset-based financing in strategically $iverse sectors of the commercial equipment leasing industry. Headquartered in Miami, UniCapital originates, acquires, sells and services equipment leases and arranges structured financing in the big ticket, middle market, small ticket and computer and telecommunications segments of the commercial equipment leasing industry. For more information, visit UniCapital's Web site at www.unicapitalcorp.com. Certain statements contained in this press release (including, without limitation, statements regarding the Company's relationship with its financial creditors) may be deemed to be forward-looking statements that involve risks and uncertainties. These statements are made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, and should be read in conjunction with the risk factors set forth in the Company's Annual Report on Form 10-K for the year ended December 31, 1999, as filed with the Securities and Exchange Commission. Those risk factors include, among others, limitations imposed by the Company's credit facilities, risks related to the need for additional capital, risks related to the Company's acquisition strategy, risks arising from the absence of combined operating history for the Company and its subsidiaries, risks related to internal growth and operating strategies, interest rate risks, risks related to fluctuations in quarterly operating results, risks related to consummating securitization transactions and other risks. These risks and other factors could cause actual results to differ materially from those expressed or implied in any forward-looking statements contained in this press release. In addition, results may vary as a result of factors set forth from time to time in the documents filed by the Company with the Securities and Exchange Commission. The Company assumes no obligation to update any forward-looking statements to reflect actual results or changes in the factors affecting such forward-looking statements. CONTACT:
or Investors
Contact: KEYWORD: FLORIDA Copelco just exited the broker business. Several brokers told me they cut existing approvals and leases off, not notice. I am trying to confirm that. Copelco does a lot of medical business. This is obviously the result of the poor stock rating they received this week. We have been receiving from brokers e-mail like: Copelco just told us they would be closing and to take all our submissions somewhere else, just five minutes ago,no notice. Name with held I hope they lose their medical business, as Copelco gave us no notice. Please put them on your list. name with held I've been calling them for days. Can't get them to return my calls. We were waiting for three deals ($175k) to fund (two of which we partially funded)only to have all three sets of docs returned by Airborne today(afternoon delivery no less). No letter of explanation , no note, no nothing. I'm seething. Will send you an email for publication over the weekend or Monday. name with held Unicapital: What is the Verdict? ( reason for late report, was trying to get the latest news--editor ) BSB Management made an offer in the morning to purchase the company from Unicapital. They have not sent fundings for ninety days, developing more programs that made them popular, when Unicapital first made their offer for this Super Broker operation. As of 5:00pm, Florida time, I spoke with Jodi Paradise, the investors media contact. She was awaiting news. I spoke once again, and she told me "they are still meeting, and I am waiting, too." At 5:30pm, Florida time, I was put into voice mail, and called several times after that, and no return telephone call, and then at 6:05pm, I was told by the operator she had gone home. No news on PR wire, 4:00pm, California time. This is like waiting for the jury to come out. Guilty or Not Guilty? And what is the sentence? Comment of Employee Pay: Employees are protected for pay up to about $4,300. Over that and they become just another unsecured creditor. Or so my bankruptcy counsel says... a former BankVest Capital employee. [name withheld, please] Humboldt Bancorp Announces Third Quarter Income Up 99% ( parent of Bancorp Financial Services _ EUREKA, Calif., Oct. 19 /PRNewswire/ -- Humboldt Bancorp (Nasdaq: HBEK) (the Company) announced third quarter net income of $2,181,000, up 99.0% from $1,096,000 during the same period last year. Earnings per share (diluted) were $.36 compared to $.20 in 1999. Return on average equity was 18.90%. For the nine months ending September 30, 2000, earnings totaled $5,020,000 compared to $3,190,000 for the same period in 1999, a 57.4% increase. Company assets currently stand at over $592 million. According to Theodore S. Mason, Humboldt Bancorp President & CEO, earnings growth over 1999 can be attributed to increases throughout the Company's subsidiaries. In addition to continued strong core earnings at Humboldt Bank, which includes a new branch in Henderson Center - Eureka, Capitol Valley Bank in Roseville contributed to company performance, enjoying its first full profitable quarter since opening in March 1999. Napa-based Capitol Thrift & Loan Association, acquired by the Company in April 2000, also contributed to the earnings performance with a third quarter income of over $364,000. The Capitol Thrift data processing system conversion is expected to occur in early November. "We are very pleased to report such a substantial increase in earnings last quarter," Mason stated. "As we mature into our diversified financial holding company structure, we continue to focus on improving our efficiency ratio as well as on growing deposits, loans, and assets, while providing a very favorable return to our shareholders. As we near the end of 2000, we expect to achieve our financial goals for the year and look forward to continued emphasis on growth and profitability in the future." As of September 30, 2000, bank deposits were up $138 million to nearly $517 million, a 36.5% increase from year-end 1999. The Company's loan portfolio currently stands at $389 million. During the third quarter, $352,000 was expensed as a reserve for Loan Losses. Non-performing assets as a percent of total assets were 0.73%, compared to 0.27% for the same period last year. Delinquent loans as a percent of total loans were 1.15%, compared to 1.07% last year. The increases (expected and budgeted) were the result of the Capitol Thrift & Loan Association acquisition (acquired 4/7/00) and the integration of that organization's loans into Humboldt Bancorp's financial statements. In September, Humboldt Bancorp announced the signing of a definitive agreement with Tehama Bancorp (OTC Bulletin Board: THMB), headquartered in Red Bluff, California, whereby Tehama would merge into Humboldt. Tehama Bank, the wholly owned subsidiary of Tehama Bancorp, will become a separate subsidiary of Humboldt Bancorp. Tehama Bank operates six branches in four counties. The merger is expected to close by the end of the first quarter of 2001, subject to regulatory and shareholder approval. Humboldt Bancorp is a California bank holding company established in 1996 with Humboldt Bank as its principal subsidiary. Founded in 1989, Humboldt Bank has ten branches in Humboldt, Trinity, and Mendocino counties. Other subsidiaries include Capitol Valley Bank, a community bank with one branch in Roseville; Bancorp Financial Services, Inc., a small-ticket leasing company in Sacramento that is owned in partnership with Tehama Bancorp; and Capitol Thrift & Loan Association, a licensed industrial loan company headquartered in Napa with eight branches throughout California. Humboldt Bancorp currently employs 440 individuals. The Company's award-winning web site is located at www.humboldtbank.com. This release may contain forward-looking statements that are subject to risks and uncertainties. Such risks and uncertainties may include but are not necessarily limited to fluctuations in interest rates, inflation, government regulations and general economic conditions, and competition within the business areas in which the Company is conducting its operations, including the real estate market in California and other factors beyond the Company's control. Such risks and uncertainties could cause results for subsequent interim periods or for the entire year to differ materially from those indicated. For a discussion of factors which could cause results to differ, please see the Company's reports on Forms 10-K and 10-Q as filed with the Securities and Exchange Commission and the Company's press releases. Readers should not place undue reliance on the forward-looking statements, which reflect management's view only as of the date hereof. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances. Additional Information and Where to Find It: It is expected that Humboldt Bancorp will file a Registration Statement on SEC Form S-4, and Humboldt and Tehama will file a Joint Proxy Statement/Prospectus with the SEC in connection with the merger, and that Humboldt and Tehama will mail a Joint Proxy Statement/Prospectus to stockholders of Humboldt and Tehama containing information about the merger. Investors and security holders are urged to read the Registration Statement and the Joint Proxy Statement/Prospectus carefully when they are available. The Registration Statement and the Joint Proxy Statement/Prospectus will contain important information about Humboldt, Tehama, the merger, the persons soliciting proxies relating to the merger, their interests in the merger, and related matters. Investors and security holders will be able to obtain free copies of these documents through the web site maintained by the SEC at http://www.sec.gov . When available, free copies of the Joint Proxy Statement/Prospectus and these other documents may also be obtained from Humboldt by mail to Humboldt Bancorp, P.O. Box 1007, Eureka, California, 95502, attention: Investor Relations, telephone, 707-445-3233. In addition to the Registration Statement and the Joint Proxy Statement/Prospectus, Humboldt and Tehama file annual, quarterly, and special reports, proxy statements and other information with the SEC. You may read and copy any reports, statement, or other information filed by Humboldt or Tehama at the SEC public reference rooms in New York, New York, and Chicago, Illinois. Please call the SEC at 800-SEC-0330 for further information on the public reference rooms. Humboldt's and Tehama's filings with the SEC are also available to the public from commercial document-retrieval services and at the web site maintained by the SEC at http://www.sec.gov . Participants in Solicitation: Humboldt, its directors, executive officers, and certain other members of management and employees may be soliciting proxies from Humboldt stockholders in favor of the issuance of common stock in the merger. 50 Leasing Companies Major Changes American
Business Leasing ( gone ) any corrections, additions, comments will be appreciated. We are presently working on dividing the list into last twelve months and prior. Heller Financial Reports Strong Earnings Growth Third Quarter Net Income to Common up 25% to $65 million; First Nine Months Net Income to Common up 28% to $197 million; Diluted EPS $0.67, up 22% from $0.55 CHICAGO, Oct. 19 /PRNewswire/ -- Heller Financial, Inc. (NYSE: HF) today reported net income of $72 million for the third quarter of 2000, an increase of 22 percent over third quarter 1999. For the nine months ended September 30, 2000, net income was $218 million, an increase of 25 percent over t he prior year period. Earnings growth for the quarter and first nine months was driven by a stable net interest margin, increased operating revenues, improved operating efficiency, strong new business volume and continued strong performance in the credit quality of Heller's portfolio. Net income applicable to common stock was $65 million for the quarter and $197 million for the first nine months, increases of 25 percent and 28 percent over prior year periods, respectively. Diluted earnings per share were $0.67 for the third quarter and $2.03 for the first nine months, increases of 22 percent and 21 percent, respectively, over the prior year. "We are proud to report another solid quarter of results," said Chairman and Chief Executive Officer Richard J. Almeida. "2000 is on track. We have made measurable progress toward our strategic and performance objectives. Our leadership positions in growth markets, coupled with our continued commitment to maintain our credit standards and operate more efficiently, make us confident about the future." Earnings highlights included: Operating revenues were $261 million for the quarter and $785 million year-to-date. Excluding factoring commissions, which fell due to the impact of the 1999 sale of the domestic factoring business, operating revenues grew 17% for the quarter and 22% for the nine months. Heller's diverse revenue sources continued to drive the growth in operating revenues. Net interest income increased 23 percent for the quarter and 28 percent for the first nine months compared to prior year periods, due to growth in the Company's portfolio of lending assets. Fees and other income grew 8 percent for the quarter and 14 percent for the first nine months. Net interest margin was 3.7 percent for the third quarter, consistent with both the first and second quarters of 2000. Heller's operating revenue margin was 6.0 percent for the quarter and 6.3 percent for the first nine months. Total lending assets and investments at $18.2 billion were down modestly from the second quarter, as originations were offset by the sale of approximately $700 million of corporate finance, real estate CMBS and equipment assets during the third quarter. Excluding these sales, lending assets and investments would have been up 3% over the second quarter. Heller's new business volume totaled $1.8 billion for the quarter and $5.8 billion year-to-date. New business was particularly strong in leasing services and healthcare finance. Credit quality in Heller's portfolio remained strong. Net writedowns totaled $29 million during the quarter, or 0.7 percent of average lending assets on an annualized basis, consistent with Heller's target level of 75 basis points. Heller's nonearning assets were 1.8 percent of total lending assets, favorable to Heller's target range of two to four percent. The Company's loan loss reserve totals 2.2 percent of receivables. Operating expenses totaled $116 million for the third quarter, consistent with the second quarter of 2000 and an increase of 5 percent over the third quarter of 1999. Year-to-date operating expenses totaled $349 million, an increase of 7 percent over the prior year period. Heller's efficiency ratio was 44 percent for the quarter and for the nine months, down from 46 percent for the third quarter of 1999 and 47 percent for the first nine months of 1999. According to Mr. Almeida, "This was a very solid quarter. Heller is well positioned, and we are optimistic about the prospects for our business and financial performance as we conclude 2000." Heller Financial, Inc. is a worldwide commercial finance company providing a broad range of financing solutions to middle-market and small business clients. With over $19 billion in total assets, Heller offers equipment financing and leasing, sales finance programs, collateral and cash flow-based financing, financing for healthcare companies and financing for commercial real estate. The company also offers trade finance, factoring, asset-based lending, leasing and vendor finance products and programs to clients in Europe, Asia and Latin America. Heller's common stock is listed as "HF" on the New York and Chicago Stock Exchanges. Heller can be found on the World Wide Web at http://www.hellerfinancial.com . The statements made by the Company in this news release may include certain forward-looking statements that reflect the Company's current expectations regarding its future growth, results and performance. These forward-looking statements are subject to a variety of risks and uncertainties, which could cause the Company's future growth, results and performance to differ materially from those expressed in, or implied by, these statements. Information concerning these risks and uncertainties is contained in the quarterly and annual reports that the Company files with the Securities and Exchange Commission.
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