Rs 50K cr investments coming soon Nov 12, 2009
Wholesale deposits (corporate surpluses) will never come to equity funds for sure. Such pools will chase short-term debt funds or be ploughed back to the company itself for capex initiatives, said Huzaifa Husain, head of equities, AIG Investments. (India Times)
Community Central Bank Corporation Announces Q3 Results Nov 11, 2009
Mr. Widlak further stated, "An ongoing effort to increase our core deposits has resulted in a reduction in our cost of funds. During the first nine months of 2009, our deposits increased $13.3 million, with organic deposits increasing $47.8 million, as wholesale deposits decreased $34.6 million. We also replaced $20.5 million of Federal Home Loan Bank advances during the first nine months with lower cost core deposit funding.". Net interest income before the provision for loan losses for the... (Primezone Releases)
HSBC remains Buffalo's biggest bank Oct 20, 2009
M&T Bank NA, $746 million in deposits, which represents the bank s wholesale deposits arm. $681 million in deposits; 1. (Buffalo Business First, NY)
FDIC: Freedom grew too fast, govt too slow Sep 24, 2009
Quarterly off-site examinations starting in 2007 reported concerns about loan growth and dependence on wholesale deposits and pricy CDs. Pages: 1. (Atlanta Business Chronicle, GA)
Regulators force closure of Irwin Union Sep 19, 2009
It also had to devise a plan to reduce the bank s reliance on wholesale deposits. In a filing with the U.S. Securities and Exchange Commission, Irwin Financial officials said they doubted they would be able to raise enough capital or devise the required wholesale deposit plan by the end of the month. (Louisville Business First, KY)
Irwin Union parent gets cease and desist order Sep 18, 2009
Irwin also must submit a plan to reduce the bank s reliance on wholesale deposits ... They added that they likely would not be able to reduce the bank s reliance on wholesale deposits by Sept. 30. (Louisville Business First, KY)
FDIC: FirstBank took too many risks Sep 12, 2009
Annual bank examinations found the bank grew too quickly, fueled by wholesale deposits and loans to real estate developers, but regulators could have provided additional and timelier attention to force the bank to right itself, according to an audit released Thursday by the Office of the Inspector General of the ... Loan growth, fueled by expensive and volatile wholesale deposits, skyrocketed. (Atlanta Business Chronicle, GA)
MagnetBank post-mortem reveals problems Aug 28, 2009
Deteriorating real estate development loans, suspect loan practices and an over-reliance on wholesale deposits felled , the Utah-based, but Atlanta-run bank that was seized by regulators last January, federal auditors said in a report issued Wednesday. A report by the Office of the Inspector General of the said high concentrations of commercial real estate and acquisition, development and construction loans, coupled with weak management controls, left the MagnetBank unprepared to deal with... (Atlanta Business Chronicle, GA)
> FDIC report details demise of MagnetBank Aug 28, 2009
Deteriorating real estate development loans, suspect loan practices and an overreliance on wholesale deposits felled , the Utah-based, but Atlanta-run bank that was dissolved by regulators in February, federal auditors said in a report issued Wednesday. The Raleigh-Durham area was one of four key markets for MagnetBank. (Triangle Business Journal)
Text of his comments Aug 22, 2009
For example, unsubstantiated rumors circulated in late September that some large Swedish banks were having trouble rolling over wholesale deposits, and on October 13 the Swedish government announced measures to guarantee bank debt and to inject capital into banks. 2. (MSNBC -- Business)
Your 10 questions Aug 22, 2009
Banks pay interest on the retail and wholesale deposits and the interbank funding that fund the loans we give out and our investments in other assets. Banks have to make timely payments towards these interest obligations. (The Star Online, Malaysia -- Business)
Audit faults gov't, bankers at Haven Trust Aug 12, 2009
An FDIC audit of the December failure of faults lax bank management, a superheated commercial real estate portfolio, too heavy a reliance on wholesale deposits and ineffective government oversight as the root cause of the bank s collapse, regulators said in a report issued Aug. 10. Auditors noted that the and the Georgia Department of Banking and Finance should have paid greater attention to warning signs. (Atlanta Business Chronicle, GA)
Audits highlight bank failures Aug 12, 2009
To fuel its growth, the bank turned to wholesale deposits brokered by national dealers -- funds that are more expensive to generate than other sources such as checking accounts, which can be hard to attract in competitive markets like Atlanta. The higher interest rates Haven Trust had to pay for deposits, the audit said, forced the bank to take greater risks to maintain profits. (Atlanta Journal-Constitution -- Business)
Irish Investment Chief O'Dwyer Tells Government: Don't `Stick it' to Banks Aug 12, 2009
Where we all want to end up is with Irish banks that are attractive to international financial investors, who provide capital, bonds and wholesale deposits, ODwyer said, adding any levy is a long way out. . (Bloomberg -- UK)
Flagstar Reports 2009 Second Quarter Results Jul 29, 2009
July 28 /PRNewswire-FirstCall/ -- Flagstar Bancorp, Inc. (NYSE: ), the holding company for Flagstar Bank FSB, today reported a second quarter 2009 net loss applicable to common stockholders of $76. 32) per share (diluted), as compared to a net loss of $67. (PR Newswire)
China Construction Bank Corporation Holds Grand Opening Celebration of New York Branch Jun 6, 2009
Located at 1095 Avenue of the Americas, the New York Branch will engage in wholesale banking activities, including lending, acceptance of wholesale deposits, trade finance, US dollar clearing and treasury. As the initial operating platform in the United States, the New York Branch will use CCB's extensive financial resources, robust global network and solid infrastructure to provide premium financial services to its clients, including multinational corporations and financial institutions. (PR Newswire)
First United Corporation Announces First Quarter Financial Results May 9, 2009
William B. Grant, Chairman and Chief Executive Officer stated, "The efforts of our retail staff continue to be commendable as deposit growth remains strong and profitable. Reduced interest expense on both retail and wholesale deposits continues to drive our increasing net interest margin.". The provision for loan losses was $2. (PR Newswire)
HSBC Bank Canada first quarter 2009 results* May 7, 2009
0 billion over 31 December 2008 mainly driven by growth in the number of High Rate and Direct Savings accounts, while higher cost wholesale deposits decreased by C$2. 5 billion as a result of lower client borrowings and securitizations of C$1. (Canada Newswire)
Atlantic Southern Financial Group, Inc. Reports First Quarter Net Earnings May 2, 2009
Management was able to decrease wholesale deposits at March 31, 2009 by $6. 3 million from December 31, 2008 due to an effort to reduce reliance on them for funding needs. (Primezone Releases)
Kochhar, as ICICI's New Chief, to Buck Central Bank Demand for Loan Growth Apr 30, 2009
In a volatile scenario like this, its important that we reduce the reliance on bulk and wholesale deposits and increase our proportion of current and savings accounts. . (Bloomberg -- Asia)
Columbia Bancorp Reports First Quarter 2009 Financial Results Apr 30, 2009
9 million of wholesale deposits. For the quarter ended March 31, 2009, the ratio of average gross loans to average deposits measured 88. (PR Newswire)
Bryn Mawr Bank Corporation Reports Strong First Quarter 2009 Financial Results and Enhances Its Capital Base Apr 29, 2009
29% Bryn Mawr Bank Corporation Consolidated Selected Financial Data (GAAP) (Dollars in thousands) March 31, 2009 (unaudited) Balance Sheet For the period ended: Mar 31, Dec 31, Sep 30, Jun 30, Mar 31, 2009 2008 2008 2008 2008 ---- ---- ---- ---- ---- Assets Interest bearing deposits with banks $ 30,283 $ 45,100 $ 11,413 $ 621 $ 513 Fed funds sold -- -- 6,000 -- 10,500 Money market funds 72,433 5,109 10,172 163 161 Investment securities 106,191 108,329 107,048 111,707 96,691 Loans held for sale... (Primezone Releases)
AMCORE Financial, Inc. Reports 1st Quarter Results; Announces Corporate Restructuring Apr 28, 2009
BALANCE SHEET 2009 2008 2008 2008 2008 -------------- ------------------------------------------------------ Assets: Investment securities, at cost $ 725,592 $ 846,415 $ 883,057 $ 895,852 $ 876,254 Short-term investments 343,094 76,115 95,259 16,909 3,890 Loans held for sale 14,671 2,862 4,523 7,811 8,565 Loans: Commercial 739,413 773,736 765,776 785,912 774,482 Commercial real estate 2,180,385 2,222,806 2,234,286 2,310,215 2,346,154 Residential real estate 441,809 445,372 445,837 455,929... (Primezone Releases)
Bendigo Bank cuts profit forecast Apr 6, 2009
"While we expect to see continued volatility and uncertainty in global financial markets, we believe Bendigo and Adelaide Bank is in an ideal position to weather these conditions and provide lasting sustainable returns to our shareholders.'' Dividend policy has been maintained at a 60 to 70% payout ratio of cash earnings per share, Bendigo said. Funding continues to be constrained, reflected by a significant increase in the cost of retail and wholesale deposits, the bank said. Assets such as... (Sydney Morning Herald -- Business)
Analysts' picks: Axis Bank, Maruti Suzuki, Cairn India, HDFC Apr 1, 2009
Axis is, however, a beneficiary of the currently surplus liquidity - on wholesale deposits (and margins), asset acquisition and its trading portfolio. Its high growth trajectory is also leveraged into the economic cycle. (India Times)
