Month: September 2025

HOUSTON, Sept. 02, 2025 (GLOBE NEWSWIRE) — Skyward Specialty Insurance Group, Inc.® (Nasdaq: SKWD) (“Skyward Specialty” or the “Company”) today announced it has entered into a definitive agreement with the majority sellers to acquire 100% of Apollo Group Holdings Limited (“Apollo”) for a total consideration of $555 million from Alchemy, management, employees, and other strategic investors. Employees and strategic investors will receive $184 million of stock consideration(1), while the remaining $371 million will be paid in cash, with committed debt financing in place. The transaction is expected to deliver double-digit adjusted operating EPS(2) accretion in the first full year post closing while adding more than $1.5 billion of managed premium(3), further reinforcing Skyward Specialty’s position as a leader in U.S. specialty markets. Apollo...

SUFFOLK, Va., Sept. 02, 2025 (GLOBE NEWSWIRE) — TowneBank (Nasdaq: TOWN) announced today the completion of its merger with Old Point Financial Corporation (“Old Point”), the parent company of The Old Point National Bank of Phoebus (“Old Point National Bank”) and Old Point Trust & Financial Services, N.A. (“Old Point Wealth Management”). The merger, which included Old Point National Bank’s merger into TowneBank, enhances TowneBank’s position in the Hampton Roads MSA with the addition of a high-quality core deposit franchise. Following the merger, which was effective on September 1, 2025, Old Point National Bank locations will operate as “Old Point National Bank, a Division of TowneBank” until February 2026, when the core systems and operations of Old Point National Bank are scheduled to be converted into those of TowneBank....