Protective Announces Application for Bank Holding Company Status
November 18 2008 - 6:15PM
Business Wire
Protective Life Corporation (�Protective�) (NYSE: PL) announces
that it has filed a bank holding company application with the U.S.
Federal Reserve Board of Governors and that it has filed an
application for the U.S. Treasury Department�s Capital Purchase
Program (CPP) under the Troubled Asset Relief Program (TARP). Both
of these applications are subject to regulatory approval. In
connection with these applications, Protective announces that it
has entered into a letter of intent to acquire Bonifay Holding
Company, Inc., and its subsidiary, The Bank of Bonifay, of Bonifay,
Florida. The acquisition is subject to various conditions,
including negotiation of a definitive agreement and approval of
Protective�s participation in the CPP. FORWARD-LOOKING STATEMENTS
This release includes �forward-looking statements,� which express
our plans, intentions, objectives, or expectations of future events
and/or results. All statements based on future expectations rather
than on historical facts are forward-looking statements that
involve a number of risks and uncertainties, and the Company cannot
give assurance that such statements will prove to be correct.
Factors that could affect the Company�s expectations include
whether the Company will receive needed regulatory approvals,
whether it will be able to negotiate definitive agreements, and
whether it will be able to execute such agreements in order to
accomplish its plans. Please refer to Exhibit 99 of the Company�s
most recent Form 10-K/10-Q for more information about these and
other factors that could affect future results.
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