Financial services
Mellon Bank has embarked on a comprehensive initiative to modernize its retail delivery system in western Pennsylvania. By 1997, the bank aims to complete a market-by-market reconfiguration of its retail regions, enhancing nontraditional delivery channels, streamlining internal processes, and expanding products and services. As part of this initiative, four existing
Financial services
Cole Taylor Financial Group, Inc. has declared its regular quarterly cash dividend of $0.07 cents per share, payable on October 11, 1995, to shareholders of record as of September 30, 1995. This announcement comes as the company continues to operate its nine branches in Cook and DuPage counties in
Commercial banks
China has experienced a significant upswing in foreign direct investment (FDI) since the introduction of its open-door policy in 1979. However, to maintain its competitiveness and attract further investment, China needs to offer more concrete incentives to foreign investors. The country's growth in gross domestic product (GDP) and
Commercial banks
KeyCorp and its subsidiary Society National Bank have launched a fundraising initiative in support of the 1995 United Way campaign in Greater Cleveland. The initiative encourages customers to use their ATM cards at the bank's MAC machines more frequently throughout the month of September, with a guarantee of
Commercial banks
First Union Corporation and MCI Communications Corporation have entered into an unprecedented partnership to revolutionize the banking industry on the Internet. The joint venture aims to provide First Union customers with simple and convenient access to the Internet, allowing them to perform banking transactions, browse the web, and access a
Commercial banks
Aspen Bancshares, a leading bank in Colorado, has announced a significant move to boost its shareholders' returns. The company's Board of Directors has approved a five-for-four common stock split, which will be distributed as a stock dividend to shareholders on record by October 10, 1995. This decision
Bank holding companies
The Stockholders of Main Street Community Bancorp, Inc. (Nasdaq: MSCB) have approved an Affiliation Agreement and Plan of Reorganization with Lexington Savings Bank (Nasdaq: LEXB) at a Special Meeting in Lieu of Annual Meeting held on August 22, 1995. The agreement, dated March 14, 1995, paves the way for a
Commercial banks
COMBANCORP, the holding company for Commerce National Bank, has announced a strong financial performance in the second quarter of 1995. The company reported net income of $173,553, or 31 cents per share, compared to $94,117, or 17 cents per share, in the same period in 1994. This represents
Commercial banks
CoreStates Financial Corp, a leading financial institution in the Philadelphia area, has announced agreements for the sale of ten branch offices located in New Jersey and Pennsylvania. The branch offices are being sold in clusters to three different purchasers, with all three sales scheduled to close in the fourth quarter
Commercial banks
Following the merger with State Bank and Trust, Hibernia Corporation has successfully converted the former bank's computer systems and installed new signs in various locations across Louisiana. The company's Ascension Parish president, Ken Bailey, expressed the bank's commitment to improving banking services and convenience
Commercial banks
Following a $3.5 million capital infusion in March 1995, BKLA Bancorp has reported improved earnings and removed restrictions imposed by the Federal Deposit Insurance Corp. and the Federal Reserve of San Francisco. Chairman M.J. Burford announced that the bank has earned $66,000 in the second quarter, bringing
Bank holding companies
Charles K. Gifford, the bank's president, has been promoted to replace Ira Stepanian as chairman and CEO, following an all-day board meeting. The surprising move comes after the bank's attempt to merge with Corestates Financial of Philadelphia collapsed, sparking criticism from investors and divisions within the
