Coastal Banking Company Reports Third Quarter 2009 Earnings Nov 13, 2009
8 million-asset bank holding company of CBC National Bank, which operates as Lowcountry National Bank in Beaufort, S.C., First National Bank of Nassau County in Fernandina Beach, Fla. and The Georgia Bank in Meigs, Ga. (Primezone Releases)
Horizon Financial Receives NASDAQ Notice Nov 10, 2009
Nov. 9, 2009 (GLOBE NEWSWIRE) -- Horizon Financial Corp. (Nasdaq: - ) ("Company"), the bank holding company for Horizon Bank, today reported it has been contacted by the Nasdaq Stock Market regarding its listing status under Marketplace Rule 5450(a)(1) because its securities have not maintained a minimum bid price of $1 ... 30 billion, bank holding company headquartered in Bellingham, Washington. (Primezone Releases)
Horizon Financial Reports Second Quarter Fiscal 2010 Results and Form 10-Q Filing Nov 10, 2009
Nov. 9, 2009 (GLOBE NEWSWIRE) -- Horizon Financial Corp. (Nasdaq: - ) ("Horizon"), the bank holding company for Horizon Bank, today reported a net loss of $35. 1 million, or $2. (Primezone Releases)
SW Fla. banks hit hard by bad debt Nov 8, 2009
Bank of Florida Corp., a bank holding company that operates Bank of Florida-Southwest here, announced this week plans to offer shares of stock for sale to raise $71 million to capitalize its banks. "We are just going to keep slugging away and raising capital because that is the prudent thing to do in this environment," said Chief Executive Officer Michael McMullan. (The News-Press -- Business)
Who deserves Wall Street bonuses? Nov 7, 2009
Second, by executive fiat, the Federal Reserve let Goldman magically metamorphose into a bank holding company so it could qualify for cheap funds from the central bank. Third, the FDIC (which exists to insure money that people deposit in banks) put its governmental guarantee behind billions of dollars in Goldman bonds, thus allowing the firm to raise even more capital very cheaply. (Paragould Daily Press, AR)
FDIC deals boost First Citizens' net 320% Nov 7, 2009
The Raleigh-based bank holding company (NASDAQ:FCNCA) on Thursday reported third-quarter net income of $82. 5 million, or $7. (Charlotte Business Journal, NC)
Home BancShares, Inc. to Present at the Sandler O'Neill Conference Nov 6, 2009
Home BancShares, Inc. is a bank holding company, headquartered in Conway, Arkansas. Our wholly-owned subsidiary Centennial Bank provides a broad range of commercial and retail banking and related financial services to businesses, real estate developers and investors, individuals and municipalities. (Primezone Releases)
Sterling hikes loan-loss provisions Nov 4, 2009
Shares of tumbled Tuesday after the Houston bank holding company said it would hike loan-loss provisions while disposing of $32 million worth of commercial real estate loans. Sterling (NASDAQ: SBIB) boosted loan loss provisions dramatically by $28. (Houston Business Journal, TX)
Our view: Market? No, jungle Nov 4, 2009
If anyone thinks our financial industry doesn't need tougher regulation, just check out the McClatchy newspaper series on the Goldman Sachs Group, a bank holding company, that began Sunday and concludes today. Story tools. (Anchorage Daily News)
CIT strikes deals in struggle for survival Nov 3, 2009
Even after it became a bank holding company to receive $US2. 3 billion in government bail-out money, CIT struggled to finance itself in the capital markets. (Sydney Morning Herald -- Business)
U.S. Bank won't lower CD rates on acquired ... Nov 3, 2009
On Friday, U.S. Bank took over San Diego National and eight other banks nationwide owned by bank holding company FBOP of Oak Park, Ill. in a transaction brokered by federal regulators. (San Diego Union-Tribune)
US lender CIT declares bankruptcy Nov 2, 2009
Operating in more than 50 countries, CIT is a bank holding company that provides financial products and advisory services to small and middle market businesses. Topics. (India Times, India)
FDIC Closes Two Central Texas Banks Nov 2, 2009
NEW YORK (November 1, 2009)--Madisonville State Bank in Madisonville and Citizens National Bank of Teague are among nine banks belonging to a bank holding company in Chicago that the Federal Deposit Insurance Corporation closed Friday. The banks deposits and most of the assets of the nine subsidiaries of FBOP Corp. were assumed by U.S. Bank, NA, of Minneapolis, Minnesota, which is a wholly owned subsidiary of U.S. Bancorp, the FDIC said. (KWTX.com, TX)
The billionaire next door: FBOP's Michael Kelly Nov 1, 2009
Mr. Kelly's craving for anonymity is matched only by his passion for control at , a 12-bank holding company with nearly $15 billion in assets stretching from here to Texas and California ... FBOP is now the second-largest independent bank holding company based in the Chicago area. (Crain's Chicago Business)
Regulators Close 9 Banks, Mostly in West Nov 1, 2009
They were divisions of privately-held , a bank holding company based in Oak Park. Ill. (CBS News)
Federal regulators close 9 banks, mostly in West Nov 1, 2009
They were divisions of privately held FBOP Corp., a bank holding company based in Oak Park ... They were divisions of privately held FBOP Corp., a bank holding company based in Oak Park. (Fresno Bee -- Business)
Chevron production up, but profits decline 51% Nov 1, 2009
They were divisions of privately held FBOP Corp., a Chicago-based bank holding company. U.S. Bank in Minneapolis, a division of US Bancorp, agreed to assume the deposits and most of the assets of the banks. (Honolulu Advertiser)
Federal regulators close 9 banks, mostly in West Nov 1, 2009
They were divisions of privately held FBOP Corp., a bank holding company based in Oak Park. Ill. (WCAX.com, VT)
MB Financial Declares Penny-Per-Share Dividend Nov 1, 2009
Bank holding company MB Financial Inc. declared a dividend of a penny per share late Friday, unchanged from the quarter before. The dividend is payable Nov. 30 to shareholders on record as of Nov. 16. (ABC News -- Wire)
Federal Regulators Close 9 Banks Oct 31, 2009
The banks were units of privately held FBOP Corp., a Chicago-based bank holding company. The Federal Deposit Insurance Corporation said U.S. Bank in Minneapolis agreed to assume the deposits and most of the assets of the banks. (ABC News -- Wire)
Federal Regulators Close 9 Banks, Mostly in West Oct 31, 2009
They were divisions of privately held FBOP Corp., a bank holding company based in Oak Park. Ill. (ABC News -- Business)
FBOP fails, U.S. Bancorp buys Oct 31, 2009
(Crains) Oak Park-based , Chicagos third-largest locally headquartered bank holding company, was seized Friday by the ... 6-billion-asset bank holding company, owned solely by CEO , into a capital hole it couldnt fill. (Crain's Chicago Business)
Community Capital Corporation Announces Completion of Offering and Results of Operations for Third Quarter Oct 31, 2009
William G. Stevens, President/CEO of Community Capital Corporation, stated, "During this difficult economic environment, we are aggressively executing our strategy of strengthening our balance sheet and addressing our troubled assets. We continue to grow our low cost local deposit base while virtually eliminating our dependence on more volatile short term wholesale funding. Simultaneously we are being creative but disciplined as we work through our troubled loans. We established a "task force"... (Primezone Releases)
MetroCorp holds steady in 3Q Oct 31, 2009
Although MetroCorp had been working to clear more nonperforming assets from its balance sheet and has been under additional scrutiny from regulators to clean up its balance sheet, the bank holding company s provision for loan losses doubled to $3 ... The bank holding company s total risk-based capital ratio improved sharply to 13. (Houston Business Journal, TX)
> BANKING UPDATE: Court clears CIB Marine reorganization plan Oct 30, 2009
which is the bank holding company for Marine Bank, said the federal bankruptcy court has confirmed the Pewaukee company s pre-packaged reorganization plan under Chapter 11 of the United States Bankruptcy Code. CIB Marine, which is traded over-the-counter as CIBHQ.PK, said a bankruptcy court judge s approval of the plan paves the way for CIB Marine Bancshares to emerge from Chapter 11 in a stronger position. (Milwaukee Business Journal, WI)
McIntosh Bancshares under regulatory order Oct 30, 2009
-based bank holding company of McIntosh State Bank, said Thursday it has entered into a cease and desist order with state and federal bank regulators. A cease-and-desist order is a formal agreement between regulators and a bank that the operations must undergo an overhaul for the institution overseen by regulators or face potential seizure. (Atlanta Business Chronicle, GA)
Treasury considers billions more in taxpayer money for GMAC Oct 29, 2009
This would be the third government cash infusion for GMAC, a bank holding company that was formerly the lending arm of. The company became a financial giant and major mortgage lender which led to some of its troubles. (USA Today -- Money)
PrivateBancorp pursues $175M offering despite market rout Oct 29, 2009
PrivateBancorp, Inc. (PrivateBancorp) is a bank holding company. PrivateBancorp, through its; Ralph MandellChairman Larry RichmanPresident, Chief Executive Officer, Director From The Lists Your resource for everything related to business in Chicago. (Crain's Chicago Business)
BankAtlantic to Sponsor CBS 4's Neighbors 4 Neighbors Oct 29, 2009
BankAtlantic Bancorp (NYSE: - ) is a bank holding company and the parent company of BankAtlantic. Except for historical information contained herein, the matters discussed in this press release contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the Securities Act), and Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act). (Yahoo! Wire -- Entertainment News)
PAB Bankshares, Inc. Delays Announcement of Third Quarter 2009 Financial Results Oct 28, 2009
26 billion bank holding company headquartered in Valdosta, Georgia, and its sole operating subsidiary is The Park Avenue Bank. Founded in 1956, the Bank operates through 18 branch offices and two loan production offices in 13 counties in Georgia and Florida. (Primezone Releases)
Icahn's plan for CIT Oct 28, 2009
The lender said in a prepared statement, "The Company is confident that CIT will emerge as a strong bank holding company with improved capital, liquidity and earnings potential." ... The lender said in a prepared statement, "The Company is confident that CIT will emerge as a strong bank holding company with improved capital, liquidity and earnings potential.". (New York Post -- Business)
OptimumBank losses deepen in Q3 Oct 27, 2009
The Fort Lauderdale-based bank holding company (NASDAQ: OPHC) lost $941,497 in the third quarter, down from a loss of $736,061 in the second quarter. OptimumBank earned $201,499 in the third quarter of 2008. (South Florida Business Journal, FL)
Washington Mutual Sues to Get Billions Back From FDIC Oct 27, 2009
The hydralike litigation has become a case study in how a bank holding company can create a legal headache for the government, and for companies that buy banking assets, long after its main business has disappeared. The Federal Deposit Insurance Corp. took control of Washington Mutual's bank on Sept. 25, 2008. (Law.com)
Guaranty Bancorp loss widens in Q3 Oct 27, 2009
Denver-based Guaranty (NASDAQ: GBNK) is a bank holding company that operates 34 branches in Colorado through a single bank. In a company statement late Friday, among the reasons for the widening loss were: a $4. (Denver Business Journal, CO)
United Community Banks deeper in red Oct 26, 2009
-based bank holding company said it is coming to grips with its credit problems and expects to return to profitability sometime in 2010. The third-largest bank holding company in Georgia had a net loss of $68. (Atlanta Business Chronicle, GA)
DNB Financial Corporation Announces Third Quarter 2009 Earnings Oct 24, 2009
DNB Financial Corporation is a bank holding company whose bank subsidiary, DNB First, National Association, is a community bank headquartered in Downingtown, Pennsylvania. Founded in 1860, DNB First is the oldest independent bank in Chester County, with thirteen offices in Chester and Delaware Counties. (Primezone Releases)
Florida Shores Bancorp obtaining controlling interest in Naples-based Shamrock Bank Oct 24, 2009
Shamrock, founded in 2007, has two locations and brings $70 million in assets to Florida Shores, a bank holding company that operates full-service commercial banks under the names ofFlorida Shores-Southwest and Florida Shores-Southeast. Once approved, Shamrock will operate under the name of Florida Shores-Gulfcoast. (The News-Press -- Business)
Washington Banking Declares 46th Consecutive Quarterly Dividend Oct 23, 2009
Washington Banking Company is a bank holding company based in Oak Harbor, Washington, that operates Whidbey Island Bank, a state-chartered full-service commercial bank. Founded in 1961, Whidbey Island Bank provides various deposit, loan and investment services to meet customers' financial needs. (Primezone Releases)
Heritage Commerce Corp Reports Financial Results for Third Quarter 2009 Oct 23, 2009
Heritage Commerce Corp, a bank holding company established in February 1998, is the parent company of Heritage Bank of Commerce, established in 1994 and headquartered in San Jose with full-service branches in Los Gatos, Fremont, Danville, Pleasanton, Walnut Creek, Morgan Hill, Gilroy, Mountain View, and Los Altos. Heritage Bank of Commerce is an SBA Preferred Lender with Loan Production Offices in Sacramento, Oakland and Santa Rosa, California. (Primezone Releases)
It’s a tough way to make a living Oct 23, 2009
Failing Bank Holding Company Garden. - to take in a Michael Flaherty-Sam Yoon friendraiser at the Greatest Bar, just off Causeway Street. (Boston Globe)
MBT Financial Corp. Announces Third Quarter 2009 Results Oct 23, 2009
MBT Financial Corp. (Nasdaq: - ), a single bank holding company headquartered in Monroe, Michigan, is the parent company of Monroe Bank & Trust (MBT). Founded in 1858, MBT is one of the largest community banks in Southeast Michigan, with $1. (Primezone Releases)
Earnings Roundup: Terra Nitrogen, Chipotle Oct 23, 2009
HOUSTON (AP) Texas bank holding company Sterling Bancshares Inc. posted a third-quarter loss, reversing a year-ago profit, as the weak economy forced the company to set aside more money to cover loan losses. 1. (ABC News -- Wire)
American River Q3 earnings drop 56% Oct 23, 2009
For the first nine months, the bank holding company for American River Bank earned $1. 4 million, down from earnings of $5. (Sacramento Business Journal, CA)
Synovus posts big 3Q loss Oct 23, 2009
The order requires the bank holding company to improve its capital position, reduce nonperforming loans, limit concentrations of commercial loans and improve credit risk management practices. Synovus officials touted the bank s improved liquidity position, but declined to discuss specifics of the regulatory order. (Atlanta Business Chronicle, GA)
Morgan Stanley returns to profit in third quarter Oct 22, 2009
The New York-based bank holding company said it earned 498 million U.S. dollars or 38 cents a share, beating expectations. Earnings from continuing operations were 757 million dollars in the third quarter, after a loss of 159 million dollars in the second quarter. (Xinhuanet, China)
IberiaBank earnings up 194% Oct 22, 2009
-based bank holding company (Nasdaq: IBKC) announced net income of nearly $25 million, up 194 percent from the second quarter and a 185 percent jump from a year earlier. Part of the increase was due to assuming the failed Birmingham-based CapitalSouth Bank on Aug. 21 from regulators, giving it three branches in Jacksonville and 10 branches total. (Jacksonville Business Journal, FL)
Up to 3,000 homes proposed for ex-Ryerson site Oct 22, 2009
Mr. Kelly, a veteran commercial real estate lender, is chairman and CEO of Oak Park-based bank holding company , which owns Park National. Even if Mr. Kelly wins zoning approval for the massive project, the development must then confront a harsh housing market and a cold climate for retail projects. (Crain's Chicago Business)
South Financial Q3 loss widens Oct 22, 2009
Greenville, S.C.-based South Financial (NASDAQ: TSFG) is a bank holding company with $12. 3 billion in assets. (South Florida Business Journal, FL)
Mercantile parent South Financial 3Q loss widens Oct 22, 2009
South Financial (NASDAQ: TSFG) is a bank holding company with $12. 3 billion in assets headquartered in Greenville, S.C. It has operations in North Carolina, South Carolina and in Florida, where it operates as. (Tampa Bay Business Journal, FL)
Access National posts income of $2.2M Oct 21, 2009
The bank holding company said nonperforming assets were about $15. 8 million as of Sept. 30, or 2. (Washington Business Journal, DC)
Savannah Bancorp Reports Third Quarter Earnings of $346,000 and Declares Quarterly Dividend Oct 21, 2009
The Savannah Bancorp, Inc. ("SAVB" or "Company"), a bank holding company for Savannah, Bryan Bank & Trust (Richmond Hill, Georgia), and Minis & Co., Inc., is headquartered in Savannah, Georgia and began operations in 1990. SAVB has ten branches in Coastal Georgia and South Carolina. (Primezone Releases)
Dearborn Bancorp Reports Third Quarter Results Oct 21, 2009
Dearborn Bancorp, Inc., is a registered bank holding company. Its sole banking subsidiary is Fidelity Bank. (Primezone Releases)
Anchor 1Q restated to show added loss Oct 21, 2009
The Madison-based bank holding company (NASDAQ: ABCW) said its total loss for the quarter ending June 30 was $62 ... 24 billion in assets, has been beset with credit problems and in June voluntarily entered into a cease-and-desist agreement with the Office of Thrift Supervision that requires the bank holding company to provide the federal agency with a plan for increasing capital and improving asset quality. (Milwaukee Business Journal, WI)
ALL BUSINESS: Lobbyists influence financial reform Oct 18, 2009
Goldman Sachs Set to Become 4th Biggest US Bank Holding Company. Featured. (Yahoo News)
First Horizon third quarter loss narrows Oct 18, 2009
The Memphis-based bank holding company s (NYSE: FHN) net loss improved on total revenue of $494. 7 million for the quarter ended Sept. 30. (Nashville Business Journal, TN)
Goldman Sachs Bonus Stigma Etched Too Deep for Philanthropy to Wash Away Oct 16, 2009
While the company repaid the U.S. Treasury, it also won government guarantees on about $30 billion of debt, was allowed to become a bank holding company to gain Federal Reserve support and was one of the biggest recipients of funds through the government bailout of. Rescued by Taxpayers. (Bloomberg)
Regions Financial Names President, COO Oct 16, 2009
Board vice chairman O.B. Grayson Hall Jr., 52, was appointed president and chief operating officer of the bank holding company. He is head of Regions' General Banking Group, which includes the company's four geographic regions covering 16 states as well as operations and technology and the Morgan Keegan ubsidiary. (ABC News -- Wire)
Goldman Sachs Profit Tops $3 Billion Oct 16, 2009
During the peak of the credit crisis last fall, Goldman became a bank holding company and changed to calendar quarterly reporting periods. Related. (ABC News -- Business)
Glancy Binkow & Goldberg LLP, Representing Shareholders of UCBH Holdings, Inc., Announces There are 27 Days Remaining to Move for Appointment as Lead Plaintiff -- UCBH Oct 15, 2009
UCBH operates as the bank holding company for United Commercial Bank, which provides personal and commercial banking services to small-and medium-sized businesses, business executives, professionals and other individuals, and primarily engages in generating deposits and originating loans. The Complaint charges the Company and certain of its current and former executive officers with violations of the Securities Exchange Act of 1934, among other things, and further alleges that throughout the... (Primezone Releases)
Citizens opens record number of accounts Oct 15, 2009
Citizens, a $153 billion commercial bank holding company, is owned by the Royal Bank of Scotland Group plc, Edinburgh. Most Read Stories. (Pittsburgh Business Times, PA)
Tenacious entrepreneur aims to launch new bank in the District Oct 12, 2009
But Brandy Williams, chairman of aspiring bank holding company , is not your typical chairman. He is a 27-year-old with a dream of forming a D.C. bank focused on the minority community. (Washington Business Journal, DC)
Cadwalader Slashes Billing Rates for Treasury Work Oct 9, 2009
Most recently, Cadwalader was selected to represent the government in the restructuring of CIT, the distressed bank holding company. Billing rates for another Treasury law firm, Sonnenschein Nath & Rosenthal (which acquired Thacher Proffitt's structured finance practice in December), were , reported National Law Journal sibling publication The American Lawyer. (Law.com)
M&I seeing trouble on loans to banks Oct 8, 2009
M&I executives said they continue taking aggressive action on the bank holding company s loan portfolio. Those actions include: a third-quarter special provision of approximately $185 million for bank holding company loans ... The special provision for the bank holding company loans is due to a series of recent events, M&I said. (Tampa Bay Business Journal, FL)
WaMu employees' lawsuit against JPMorgan dismissed Oct 8, 2009
The case is the first to pose the questions of whether a successor corporation is liable for retirement fund management under the Employee Retirement Income Security Act and of whether ERISA liability is transferred from a bank holding company such as WaMu to the buyer of the bank that is its principal asset, Berman said. Retirement plans for tens of thousands of employees of the Seattle-based bank shriveled in the banking industry crisis that began in 2007, and many vaporized after the FDIC... (Longview Daily News, WA)
OceanFirst Financial Corp. and Central Jersey Bancorp Announce Shareholder Approvals of Proposed Strategic Combination Oct 6, 2009
Central Jersey Bancorp is a bank holding company headquartered in Oakhurst, New Jersey. The holding company was incorporated in New Jersey on March 7, 2000, and became an active bank holding company on August 1, 2000 through the acquisition of Monmouth Community Bank, N.A. On January 1, 2005, Monmouth Community Bancorp changed its name to Central Jersey Bancorp and completed its strategic business combination transaction with Allaire Community Bank, a New Jersey state chartered bank, pursuant to... (Primezone Releases)
