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The board of directors at VIST Financial (VIST) in Wyomissing, Pa., has formed a special litigation committee to investigate shareholder claims that the board breached its fiduciary duty when it agreed to sell VIST to an upstate New York company for $86 million.
April 12 -
Tompkins Financial in Ithaca, N.Y., is planning to raise $30 million in a secondary stock offering and may use the proceeds to redeem securities issued to VIST Financial through the Treasury Department's Troubled Asset Relief Program.
March 27 -
VIST Financial Corp. in Wyomissing, Pa., said after markets closed Thursday that it lost $24.6 million in the fourth quarter after it wrote down $25 million of goodwill in connection with its pending sale to Tompkins Financial Corp. of Ithaca, N.Y.
February 9
Tompkins Financial (TMP) in Ithaca, N.Y., has hired an executive from National Penn Bancshares (NPBC) to run its bank in southeast Pennsylvania.
The $4.8 billion-asset company hired Scott Gruber as its chief operating officer, effective April 30. He will also become the president and chief operating officer of VIST Bank in Wyomissing, Pa., the company said in a press release Tuesday. Gruber will also become the bank's CEO when Robert Davis retires and the end of this year.
Gruber is an executive vice president and head of corporate banking at National Penn Bank. He has been with the in Boyertown, Pa., company for 16 years.
Gruber "is an outstanding addition to our team," Stephen Romaine, Tompkins' president and CEO, said in the release. "He brings an incredible depth of banking experience, knowledge of the marketplace and the clients he serves, plus a deep commitment to the community. We are absolutely delighted to have him join VIST Bank and the Tompkins organization."
Tompkins has four banks in New York and Pennsylvania. VIST has 24 branches and $1.3 billion in assets.
