Encore Bancshares, Inc. Issues $34 Million in Senior Preferred Shares to the U.S. Treasury Dec 6, 2008
Encore Bancshares, Inc. is a financial holding company headquartered in Houston, Texas and offers a broad range of banking, wealth management and insurance services through Encore Bank, N.A., and its affiliated companies. Encore Bank operates 11 private client offices in the Greater Houston area and six in southwest Florida. (Primezone Releases)
Hampton Roads Bankshares and Gateway Financial Holdings Receive Preliminary Approval for a Total Investment of $80.3 Million Under the U.S. Treasury's TARP Capital Purchase Program Dec 6, 2008
Dec. 5, 2008 (GLOBE NEWSWIRE) -- Hampton Roads Bankshares, Inc. (NasdaqGS: - ), the financial holding company for Bank of Hampton Roads and Shore Bank, and Gateway Financial Holdings, Inc. (NasdaqGS: - ), the financial holding company of Gateway Bank & Trust Co., jointly announced today that they have received preliminary approval for a total investment of $80. 3 million from the United States Department of the Treasury under the TARP Capital Purchase Program. (Primezone Releases)
IBC Insurance buys up InsCorp Dec 5, 2008
5 billion multi-bank financial holding company headquartered in Laredo, Texas. It has more than 263 facilities and 420 ATMs serving more than 101 communities in Texas and Oklahoma. (San Antonio Business Journal, TX)
South Korean banks feel pressure to merge Dec 2, 2008
"Given that excessive competition for size has been blamed as one of reasons for banks' current problems, we need a large-size M&A to put an end to that competition. Easing of bank ownership and financial holding company laws would provide a stimulus.". Today in Business with Reuters. (International Herald Tribune -- Business)
Wintrust Financial Corporation Selected To Participate in U.S. Treasury Department's Capital Purchase Program Nov 27, 2008
Wintrust is a financial holding company whose common stock is traded on the Nasdaq Stock Market(R) (Nasdaq: ). Its 15 community bank subsidiaries are: Lake Forest Bank & Trust Company, Hinsdale Bank & Trust Company, North Shore Community Bank & Trust Company in Wilmette, Libertyville Bank & Trust Company, Barrington Bank & Trust Company, Crystal Lake Bank & Trust Company, Northbrook Bank & Trust Company, Advantage National Bank in Elk Grove Village, Village Bank & Trust in Arlington Heights,... (PR Newswire)
Wintrust Financial Corporation Announces Application to Participate in U.S. Treasury Capital Purchase Program and Filing of Shelf Registration Statement Nov 25, 2008
Wintrust is a financial holding company with assets of approximately $10 billion whose common stock is traded on the Nasdaq Stock Market (Nasdaq: ). Wintrust operates fifteen community bank subsidiaries that are located in the greater Chicago and Milwaukee market areas. (PR Newswire)
Bailout bandwagon: Some local banks join; others decline Nov 22, 2008
Cadence is a financial holding company with banking and other services in Mississippi, Tennessee, Alabama, Florida and Georgia. And Trustmark National Bank seeks federal bailout funds. (Columbus Commercial Dispatch, MS)
Like Trump, other developers may sue lenders Nov 19, 2008
E. Sun Commercial Bank, a Taiwan-based bank and financial holding company with offices in New York. Greenwich Capital Financial, an affiliate of the Royal Bank of Scotland that specializes in fixed-income investments. (Crain's Chicago Business)
IBERIABANK Corporation Reports Recent Events Nov 19, 2008
IBERIABANK Corporation is a multi-bank financial holding company with 153 combined offices, including 87 bank branch offices in Louisiana, Arkansas, and Tennessee, 30 title insurance offices in Arkansas and Louisiana, and mortgage representatives in 36 locations in eight states. The Company's common stock trades on the NASDAQ Global Select Market under the symbol "IBKC" and the Company's market capitalization is approximately $642 million. (PR Newswire)
First Community buys Coddle Creek Nov 19, 2008
05 billion financial holding company and the parent of First Community Bank, which operates 58 branches in the Carolinas, Virginia, West Virginia and Tennessee. Reader Comments. (Charlotte Business Journal, NC)
Prosperity Bancshares, Inc.(R) Makes Decision Not to Apply for Government's Capital Purchase Program Nov 18, 2008
5 billionHouston, Texas based regional financial holding company, formed in 1983, operates under a community banking philosophy and seeks to develop broad customer relationships based on service and convenience. Prosperity offers a variety of traditional loan and deposit products to its customers, which consist primarily of small and medium sized businesses and consumers. (PR Newswire)
CIT announces exchange offers to become bank Nov 18, 2008
Combined with its capital raising efforts, an investment from the government would provide CIT with sufficient capital to exceed regulatory capital requirements to be a financial holding company, CIT said. Last week, CIT said it applied to the Federal Reserve to become a bank holding company, a move that would enable it to create a large deposit base to help fund its operations and provide insulation from the fallout of massive investment losses. (NJ.com -- Times)
Cease-and-desist order for Capital South Nov 18, 2008
-based financial holding company (NASDAQ: CAPB) expanded its bank into Jacksonville last year by acquiring Jacksonville-based. The company entered into the cease-and desist order with federal and state regulators Oct. 29, which is a notice that suspends unsound or unlawful practices, primarily in lending, of the institution. (Jacksonville Business Journal, FL)
Mr. Carlos M. Garcia, President of Banco Santander Puerto Rico, Will Leave His Position to Accept Senior Executive Position in Puerto Rico Government Nov 14, 2008
Santander BanCorp is a publicly held financial holding company that is traded on the New York Stock Exchange (SBP) and on Latibex (Madrid Stock Exchange) (XSBP). 91% of the outstanding common stock of Santander BanCorp is owned by Banco Santander, S.A. (Santander). (PR Newswire)
Osborn sheds executive role at Northern Nov 12, 2008
Top Finance Headlines. Top Government Headlines. (Crain's Chicago Business)
Prosperity acquires Franklin Bank Nov 9, 2008
5 billion, financial holding company and parent of Prosperity Bank, said it would take over Franklin s deposits of about $3. 7 billion from the receiver, the , at close of business on Nov. 7 and would provide services to former Franklin customers from Nov. 8. (Houston Business Journal, TX)
Prosperity Bank(R) to Acquire All Deposits of Franklin Bank From FDIC Nov 8, 2008
5 billion Houston, Texas based regional financial holding company, formed in 1983, operates under a community banking philosophy and seeks to develop broad customer relationships based on service and convenience. Prosperity offers a variety of traditional loan and deposit products to its customers, which consist primarily of small and medium sized businesses and consumers. (PR Newswire)
First United Corporation Announces Third Quarter Earnings Nov 8, 2008
Nov. 7 /PRNewswire-FirstCall/ -- First United Corporation (Nasdaq: ), a financial holding company and the parent company of First United Bank , announces net income for the quarter ended September 30, 2008 of $1. 9 million, or earnings per share of. (PR Newswire)
Frost will not seek federal bailout funds Nov 4, 2008
Cullen/Frost Bankers will not seek federal bailout funds - San Antonio Business Journal. for free extra services. (San Antonio Business Journal, TX)
Columbia Bancorp Reports Third Quarter 2008 Financial Results Nov 1, 2008
ABOUT COLUMBIA BANCORP Columbia Bancorp () is the financial holding company for Columbia River Bank, which operates 22 branches located in The Dalles (2), Hood River, Bend (3), Madras, Redmond (2), Pendleton, Hermiston, McMinnville, Lake Oswego, Canby, and Newberg, Oregon, and in Goldendale, White Salmon, Sunnyside, Yakima, Vancouver, Pasco and Richland, Washington. To supplement its community banking services, Columbia River Bank also provides and brokerage services through CRB Financial... (PR Newswire)
Mizuho More Than Halves Net Profit Estimates Oct 31, 2008
said Friday that it has cut its group net profit forecast for April-September by 62. 4 pct to 94 billion yen from the 250 billion yen forecast in July, due to growing bad loan disposals and securities losses. (JCN Network, Japan)
Cadence reports $5.3 million loss Oct 29, 2008
Lewis Mallory Jr., chairman and CEO of the financial holding company, said the company had to downgrade approximately $13 million in loans when all interest and principal payments were abruptly stopped by one customer during the third quarter of 2008. Cadence is a financial holding company with banking and other services in Mississippi, Tennessee, Alabama, Florida and Georgia. (WREG.com, TN)
Cadence reports $5.3M net loss for 3rd quarter Oct 29, 2008
Lewis Mallory Jr., chairman and CEO of the financial holding company, said the company had "a significant increase in our loan loss provision related to a credit downgrade on a single customers relationships.". "We downgraded approximately $13 million in loans when all interest and principal payments were abruptly stopped by the customer during the third quarter of 2008," Mallory said in a news release. (The Clarion-Ledger)
Mizuho $7 Billion Loss Turned on Toxic Aardvark Pushed by CDO Maker Rekeda Oct 29, 2008
Mizuho, formed in 2000 in a merger of three banks, beat out rivals and to win approval from U.S. regulators to set up a financial holding company. That enabled it to operate as a full-service investment bank. (Bloomberg -- Japan)
Evans Bancorp, Inc. to Present At the 2008 Western New York Investors Conference Oct 28, 2008
Evans Bancorp, Inc. is a financial holding company and the parent company of Evans Bank, N.A., a commercial bank with $485 million in assets and $371 million in deposits at June 30, 2008. The bank has twelve branches located in Western New York. (Primezone Releases)
IBC's earnings up 3.7 percent for 3Q 2008 Oct 25, 2008
The financial holding company s net income for the first nine months of 2007 was negatively impacted by an after-tax impairment charge of $13 ... IBC is a multi-bank financial holding company with 263 facilities and 420 ATMs in Texas and Oklahoma. (San Antonio Business Journal, TX)
CoBiz Financial Announces $0.07 Dividend Oct 24, 2008
6 billion financial holding company headquartered in Denver. The company operates Colorado Business Bank and Arizona Business Bank, full-service commercial banking institutions that offer a broad range of sophisticated banking services to a targeted customer base of professionals and small to mid-sized businesses. (PR Newswire)
Dow down another 514 points on earnings reports Oct 23, 2008
the troubled financial holding company that agreed to be acquired by , posted a $24 billion third-quarter loss. The news wasn't all bad. (Boston Globe)
Rand sinks as stocks slide Oct 23, 2008
99 and financial holding company RMB Holdings fell 7. 77 percent to R19. (Business Report, South Africa)
Farmers Capital Bank Corporation Announces Third Quarter Results, Remains 'Well-Capitalized' Oct 22, 2008
Farmers Capital Bank Corporation is a financial holding company headquartered in Frankfort, Kentucky. The Company operates 36 banking locations in 23 communities throughout Central and Northern Kentucky, a leasing company, a data processing company, and an insurance company. (PR Newswire)
IBERIABANK Corporation Reports Third Quarter 2008 Results Oct 22, 2008
IBERIABANK Corporation IBERIABANK Corporation is a multi-bank financial holding company with 153 combined offices, including 87 bank branch offices in Louisiana, Arkansas, and Tennessee, 30 title insurance offices in Arkansas and Louisiana, and mortgage representatives in 36 locations in eight states. The Company's common stock trades on the NASDAQ Global Select Market under the symbol "IBKC" and the Company's market capitalization is approximately $627 million. (PR Newswire)
Taiwan banks missed the merger window Oct 21, 2008
"Banks in South Korea and elsewhere in Asia went through a dramatic consolidation during the 1997 Asia crisis, but Taiwan banks did not. This time, it won't happen either," said Simon Ozeng, an executive vice president of state-controlled Mega Financial holding company. "Even with the current shock wave, no mergers between larger Taiwan lenders are in sight, though a few weak banks are under mounting pressure to put themselves up for sale.". (International Herald Tribune -- Business)
Comerica Shines Amid The Gloom Oct 18, 2008
Comerica is a financial holding company with operations in Arizona, California, Florida, Michigan and Texas. The lender has cut its dividend and begun a program to improve loan quality, which it said is producing the desired results. (Forbes -- Markets)
Capital One Reports Third Quarter Earnings per Share (diluted) of $1.00 Oct 17, 2008
About Capital One Capital One Financial Corporation ) is a financial holding company whose subsidiaries collectively had $98. 9 billion in deposits and $147. (PR Newswire)
Surge in violence, suicides big concern in tough times Oct 15, 2008
Rajaram once worked for a major accounting firm and for Sony Pictures, and he had been part-owner of a financial holding company. But he had been out of work for several months. (Honolulu Advertiser)
IBC Bank adds Apple iPhone as approved mobile banking device Oct 14, 2008
IBC Bank is owned by (NASDAQ: IBOC), an $11 billion multi-bank financial holding company based in Laredo. The company has more than 260 branches in Texas and Oklahoma. (San Antonio Business Journal, TX)
Frost Bank develops new Schertz center Oct 14, 2008
Frost is the banking, investments and insurance subsidiary of (NYSE: CFR), a financial holding company with headquarters in San Antonio. The company had assets of $13. (San Antonio Business Journal, TX)
L.A. murder-suicide put counselors on alert about money woes Oct 8, 2008
Rajaram, who had master's of business administration degree in finance, once worked for a major accounting firm and for Sony Pictures, and he had been part-owner of a financial holding company. But he had been out of work for several months, police said. (Honolulu Advertiser)
Taiwan doubles bank deposit insurance Oct 8, 2008
Last week, Taishin Financial Holding Company Chairman Thomas Wu acknowledged his bank had lost NT$30 billion ($920 million) in deposits over the past two weeks but denied rumors it would be taken over by the government. Several leading bankers have urged the government to set up a sovereign wealth fund to prop up the stock market, possibly by dipping into the island's $280 billion in foreign reserves. (San Diego Union-Tribune -- Business)
Police: Jobless father kills family... Oct 8, 2008
Rajaram was involved in a financial holding company as part owner "at least," Moore said. There is no evidence he had had any history of mental difficulties, nor was there an indication he had sought counseling, Moore said. (CNN -- Law)
Northern money-market hit could swell Oct 7, 2008
Northern Trust Corporation is a financial holding company, which provides investment management; William OsbornChairman of the Board Frederick WaddellPresident, Chief Executive Officer, Director From The Lists Your resource for everything related to business in Chicago. 2. (Crain's Chicago Business)
Gunman kills self, five kin over financial woes in L.A.... Oct 7, 2008
Investigators quickly found two suicide letters and a will, and determined that the man once worked for a major accounting firm and was at least the part-owner of a financial holding company, said ... The deputy chief did not identify the financial holding company, though records show an incorporation there. (The Drudge Report)
Unemployed man killed himself and five family over financial woes Oct 7, 2008
Mr Moore did not detail Mr Rajaram's financial troubles though noted the father-of-three was at least part-owner of a Nevada incorporated financial holding company. The US is in the grip of an economic and property crisis with rising unemployment and growing talk of recession. (Telegraph.co.uk)
6 Bodies Found In SoCal Gated Community Oct 7, 2008
"Apparently he has a background in finance with an MBA and has been involved in some type of a financial holding company where he was at least a part owner.". Two newer-model SUVS were parked in the driveway of the neatly kept two-story residence. (TheSanDiegoChannel.com, CA)
6 bodies found in San Fernando Valley home Oct 7, 2008
Investigators have determined that Rajaram was at least the part-owner of a financial holding company, Moore said. He is listed as a co-manager of a corporation called SKGL LLC, which is incorporated in Nevada, according to state records. (USA Today)
New York bankers will decide on Jacksonville bank jobs Oct 6, 2008
The financial holding company has about 700 employees in Jacksonville servicing back office mortgage processing. Spokespeople from all the institutions agreed that it was too soon to determine what would happen to employees of the local operations. (Jacksonville Business Journal, FL)
BancorpSouth added to S&P 400 Sep 24, 2008
-based BancorpSouth is a financial holding company with approximately $13. 4 billion in assets. (Memphis Business Journal, TN)
W-S entrepreneur targets health care with venture Sep 23, 2008
a financial holding company investing in new applications for wireless sensor systems, has set up shop in the Triad. The company s first subsidiary, Roanoke-based , has begun contracting initial manufacturing work to Nimbus Technologies in High Point, according to Optimum Sensor CEO Dan Wrappe. (Business Journal of the Greater Triad Area)
Life goes on for Atlanta Life Sep 23, 2008
Clement calls it the adoption of the model on a far smaller scale: an overarching financial holding company with branches of specialized services. We want to be a one-stop shop for our clients, offering all the services they could need whether it is insurance, investment advisory work, [or] corporate finance, he said. (Atlanta Business Chronicle, GA)
Morgan Stanley to Sell Stake to Mitsubishi UFJ Sep 23, 2008
The official said that, because MUFG doesn't have Financial Holding Company status in the U.S., taking the stake is conditional on approval by the U.S, authorities. A stake of 20% would make MUFG the biggest shareholder in Morgan Stanley, the Japanese bank said. (SmartMoney)
JSE hiccups as rand sheds gains Sep 18, 2008
01 rand and financial holding company RMB Holdings - which posted a 6 percent fall in full-year earnings - lost 6. 35 percent to 23. (Business Report, South Africa)
IBC Bank launches "Go Green" initiative Sep 6, 2008
IBC Bank is a subsidiary of Laredo-based (NASDAQ: IBOC), an $11 billion multi-bank financial holding company. Reader Comments. (San Antonio Business Journal, TX)
Update Regarding Hurricane Gustav Impact Sep 5, 2008
Daryl G. Byrd, President and Chief Executive Officer of the Company, commented, "Hurricane Gustav brought significant rain, wind, and anxiety to our region. Clean-up efforts and resumption of commerce will take a little time. They will be completed due to the patience, hard work, and determination of our people in the affected communities. Lessons learned from prior storms, such as Hurricanes Katrina, Rita, and Lilli, provide us an excellent roadmap to a rapid recovery in our region and positive... (PR Newswire)
> Lender branching out with new H-E-B locations Sep 4, 2008
is a subsidiary of Laredo-based (NASDAQ: IBOC) a multi-bank financial holding company that has $11 billion in assets. The lender s assets in San Antonio total $1. (San Antonio Business Journal, TX)
IBC Bank adds BlackBerry to list of mobile banking devices Sep 3, 2008
IBC Bank is owned by Laredo-based (NASDAQ: IBOC), an $11 billion multi-bank financial holding company with more than 260 facilities and more than 415 ATMs across Texas and Oklahoma, including San Antonio. Reader Comments. (San Antonio Business Journal, TX)
Analyst: BB&T ripe for merger Sep 2, 2008
Headquartered in Winston Salem, N.C., BB&T is the nation's 14th largest financial holding company with $132. 6 billion in assets. (Nashville Business Journal, TN)
Should Americans patronize businesses owned by foreign Muslim companies practicing Sharia? Aug 29, 2008
One giant Bahrain-based financial holding company that follows Sharia, once named the First Islamic Investment Bank (now called Arcapita), is the largest Middle-East based investment firm in the U.S.. Caribou Coffee, PODS, and Church s Chicken are just three of their many holdings. (Atlanta Journal-Constitution -- Opinion)
Commercial Bank & Trust earns two four-star ratings Aug 29, 2008
-based financial holding company also received a similar four star recommended rating from , a bank rating service. It is the 69th consecutive time that Commercial Bank & Trust has received the recommended rating from BauerFinancial. (Memphis Business Journal, TN)
First Financial Bankshares Names Randy Christian as Senior Vice President of Marketing and Advertising Aug 28, 2008
Headquartered in Abilene, Texas, First Financial Bankshares is a financial holding company that operates ten separately chartered banks with 48 locations in Texas. The bank subsidiaries are First Financial Bank, N.A., Abilene, Albany, Clyde and Moran; First Financial Bank, N.A., Eastland, Ranger and Rising Star; First Financial Bank, N.A., Cleburne, Burleson, Alvarado and Midlothian; Hereford State Bank, Hereford; First Financial Bank, N.A., Mineral Wells; San Angelo National Bank, San Angelo;... (PR Newswire)
The Bird named to All-America mascot team Aug 28, 2008
com) is a financial holding company whose subsidiaries collectively had $92. 4 billion in deposits and $147. (Airforcesports.com)
BB&Ts John Allison to retire as CEO on Dec. 31 Aug 28, 2008
After 60 bank and thrift acquisitions since 1989, the former eastern North Carolina farm bank has grown to become the nation s 14th largest financial holding company ... 5 billion in assets, Winston-Salem, N.C.-based BB&T Corporation (NYSE: BBT) is the nation s 14th largest financial holding company. (Orangeburg Times and Democrat, SC)
BB&T CEO Allison to retire at year's end Aug 28, 2008
5 billion in assets and is the nation's 14th largest financial holding company. It operates nearly 1,500 financial centers in 11 states and Washington, D.C.. (Nashville Business Journal, TN)
BB&T's longtime CEO to retire Aug 28, 2008
Allison, 60, oversaw 60 bank and thrift acquisitions during his tenure and watched the bank grow into the nation s 14th-largest financial holding company. BB&T Corp. s (NYSE:BBT) assets have increased to $136. (Birmingham Business Journal, AL)
Taiwan investigates alleged money laundering Aug 25, 2008
A financial holding company denied there was any wrongdoing, but the accusations still sparked deep plunges in financial shares on the Taiwan stock exchange last week. AP. (Sydney Morning Herald -- World)
Taiwan Ex-Pres Alleged $ Laundering Aug 25, 2008
A financial holding company denied there was any wrongdoing, but the accusations still sparked deep plunges in financial shares on the Taiwan stock exchange last week. More from. (Time.com)
