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The company wants to supplement the loss of revenue from mortgage banking with a potentially large acquisition. CEO Gary Douglass says he is interested in banks with $400 million to $1 billion in assets.
February 7 -
Pulaski Financial (PULB) in St. Louis plans to take out a $10 million loan in order to redeem preferred stock shares issued to the Treasury Department under the Troubled Asset Relief Program.
January 23 -
Pulaski Financial (PULB) in St. Louis said Monday that it had discovered a fraud scheme by a commercial borrower that wiped out the profit for its latest quarter and nearly a third of its annual profit.
November 11
Pulaski Financial (PULB) in St. Louis is looking to convert to a national bank from a federal savings bank.
The $1.3 billion-asset company said it expects to complete the conversion later this year. After the conversion, Pulaski will still be regulated by the Office of the Comptroller of the Currency and the Federal Reserve Board.
"Our business model and our balance sheet are no longer well-suited to the federal thrift charter," Gary Douglas, Pulaski's chief executive, said in a press release. "The charter conversion will give us the flexibility to continue to grow our commercial business alongside of our traditional retail business. In addition, we expect Pulaski and its shareholders ultimately will benefit from comparison to a peer group of banks, rather than thrifts."
