4 Financial Stock Stories for Tuesday Enjoyment

Berkshire Hathaway (NYSE:BRKB): Current price $103.53

The Goldman Sachs Group announced Tuesday that it has modified its warrant agreement with Berkshire Hathaway, and certain of its subsidiaries  from cash settlement to net share settlement. Chairman and Chief Executive Officer of Berkshire Hathaway Warren Buffett commented, ”We intend to hold a significant investment in Goldman Sachs, a firm that I did my first transaction with more than 50 years ago. I have been privileged to have known and admired Goldman’s executive leadership team since my first meeting with Sidney Weinberg in 1940.” The press release reported that “Under the amended agreement, Goldman Sachs will deliver to Berkshire Hathaway the number of shares of common stock equal in value to the difference between the average closing price over the 10 trading days preceding October 1, 2013 and the exercise price of $115 multiplied by the number of shares of common stock covered by the warrant (43,478,260).”

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BRKB

M&T Bank Corporation (NYSE:MTB): Current price $102.68

Later in the spring, Bank of America Corporation intends to close its mortgage-servicing operations at CrossPoint Business Park in Getzville, New York, and when that happens hundreds of jobs, perhaps up to 500, will be eliminated. However, there is a bright side for the current 1,300 employees there now: M&T Bank has agreed to assume BofA’s current lease beginning May 31st, and intends to fill 600 positions in support of its growing mortgage sub-servicing division, according to a spokesperson.

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MTB

Fiserv (NASDAQ: FISV): Current price $86.71

The supplier of financial services tech solutions, has announced a partnership with a Romanian solution integrator, Eutron Invest Romania, through which to provide the entire Cash and Logistics solution portfolio from Fiserv to the Romanian market. The solution portfolio will mostly concentrate upon the Integrated Currency Manager cash management system, Device Manager, and CorPoint, which is the end-to-end cash management system for retailers, but will also cover the full spectrum of cash and logistics needs.

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FISV

Intervest Bancshares Corp. (NASDAQ:IBCA): Current price $5.92

The holding company for Intervest National Bank reported that actions taken by the bank have caused the termination of the formal agreement dated December 9, 2010 between the bank and the Office of the Comptroller of the Currency. The bank is thus no longer subject to any formal or informal regulatory agreement.

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IBCA

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