Press release from CNW Group
Canadian Western Bank completes its purchase of the preferred shares of National Leasing Group Inc.
Tuesday, May 29, 2012
Canadian Western Bank completes its purchase of the preferred shares of National Leasing Group Inc.18:02 EDT Tuesday, May 29, 2012EDMONTON, May 29, 2012 /CNW/ - Canadian Western Bank (TSX: CWB) ("CWB" or the "Bank") today completed its previously announced agreement to purchase the preferred shares of National Leasing Group Inc. (the "Preferred Shares").Under terms of the purchase, CWB acquired 100 per cent of the Preferred Shares in exchange for $63.5 million of CWB common shares (2,256,868 CWB common shares based on an issue price of $28.14). The transaction increases the Bank's regulatory capital ratios by approximately 45 basis points.About Canadian Western Bank GroupCanadian Western Bank offers a full range of business and personal banking services across the four western provinces and is the largest publicly traded Canadian bank headquartered in Western Canada. The Bank, along with its operating affiliates, National Leasing Group Inc., Canadian Western Trust Company, Valiant Trust Company, Canadian Direct Insurance Incorporated, Adroit Investment Management Ltd. and Canadian Western Financial Ltd., collectively offer a diversified range of financial services across Canada and are together known as the Canadian Western Bank Group. The common shares of Canadian Western Bank are listed on the Toronto Stock Exchange under the trading symbol "CWB". The Bank's Series 3 Preferred Shares trade on the Toronto Stock Exchange under the trading symbol "CWB.PR.A". Refer to www.cwbankgroup.com for additional information.For further information: Kirby Hill, CFA Director, Investor and Public Relations Canadian Western Bank Phone: (780) 441-3770 Email: email@example.com Tracey Ball, FCA Executive Vice President and CFO Canadian Western Bank Phone: (780) 423-8888