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A fight over board seats at South Street Financial pits the company's management against the president and CEO of a bank in Pennsylvania.
April 11 -
Porter Bancorp's shareholders have granted the struggling company more flexibility to raise capital to meet the demands of regulators.
May 17 -
Shareholders also recommended that the CEO and chairman jobs, now held by Beth Mooney, be split.
May 17
Shareholders of First Citizens Bancshares (FCNCA) rejected a proposal that would have limited the control of the family that has run the Raleigh, N.C., company for generations.
Gerald Armstrong failed to collect enough support for his proposal to eliminate the 16-votes-per-share voting power of First Citizens' Class B stock at last month's annual meeting, the $20.9 billion-asset company disclosed in a regulatory
First Citizens had recommended that shareholders reject the proposal. Roughly 12.1 million shares voted against the measure, while 6.3 million supported it.
Armstrong, who is based in Denver who owns about $5,000 worth of the company's common stock, argued in
First Citizens is the
Robert Holding, Ames' grandfather, was CEO in the 1930s. Her father, Lewis Holding, was CEO from 1957 through 2008, when he was succeeded by Frank Holding Jr.
Armstrong is known for issuing proposals to rein in executive pay at banks including Wells Fargo (WFC), KeyCorp (KEY) and Porter Bancorp (PBIB).