Commercial banks
Union Planters Corporation, a $9.7 billion multi-bank holding company, has announced the acquisition of Eastern National Bank, a Miami-based commercial bank with over $250 million in total assets. The merger, subject to regulatory approval, is expected to be complete by the end of the third quarter of 1995. Eastern
Commercial banks
Duff & Phelps Credit Rating Co. has upgraded the credit ratings of Wells Fargo & Company and its primary subsidiary, Wells Fargo Bank, N.A., reflecting significant improvements in asset quality measures and a reduced risk profile. The upgrade raises Wells Fargo's ratings for senior debt, subordinated debt,
Bank holding companies
National City Corporation, a $33 billion diversified financial services company, has launched a new service for business customers: the National City Purchasing Card for Business. The card aims to streamline the purchasing process for corporate customers, reducing time and effort in procurement. The company has partnered with ProCard, Inc., a
Bank holding companies
Under an exclusive strategic alliance with Hong Kong Shanghai Banking Corp., First Bank System is set to extend its Visa corporate card services internationally to employees of multinational organizations based outside of the United States. Midland Bank plc, a London-based wholly owned subsidiary of Hong Kong Shanghai Bank, will become
Commercial banks
SunTrust Banks, a regional bank holding company, has announced the completion of its acquisition of Peoples State Bank, a $124 million asset institution based in New Port Richey. The merger will bring the total number of offices in Pasco, Citrus, and Hernando counties to 30 and strengthen SunBank's
Commercial banks
Foothill Independent Bancorp, a community bank based in Glendora, California, has announced its expansion into Riverside County with the opening of its 10th branch in Corona. This move is in line with the company's vision to remain a community-focused regional bank in its current counties of Los Angeles
Commercial banks
The dismissal of the lawsuit by William A. Brandt, Jr., bankruptcy trustee for the Chapter 7 estate of Southeast Banking Corporation, against First Union National Bank of Florida and its parent, First Union Corporation, has sparked renewed controversy. Brandt's lawsuit, which was filed to pursue claims against First
Commercial banks
EMC Corporation, a world leader in data storage and retrieval technology, has announced that First Union Corporation, the nation's ninth largest bank holding company, has purchased additional Symmetrix 5500-9 Integrated Cached Disk Arrays (ICDA) for its mission-critical applications. This latest purchase makes First Union the largest EMC data
Bank holding companies
BankAtlantic Bancorp, Inc., the holding company for Fort Lauderdale, Florida-based BankAtlantic, reported significant financial growth in the first quarter of 1995. The company's net income for the quarter was $4.38 million, a 2.3% increase from the same quarter in 1994. This growth was driven by the
Bank holding companies
San Francisco Federal Savings and Loan Association, the primary subsidiary of SFFed Corp., reported a net loss for the quarter ended March 31, 1995, due in part to a significant reduction in net interest income and a pre-tax charge of $3.6 million for provisions related to real estate loans
Bank holding companies
The acquisition of Bank of A. Levy by First Interstate Bank has brought about a significant expansion of the bank's presence in Ventura County. The merger, which was completed on February 1, has more than doubled First Interstate's local branch network and customer base. As of
Commercial banks
Colonial BancGroup Chairman Robert E. Lowder and Farmers and Merchants Bank of Ariton, Alabama Chairman D.K. Wilson announced a merger between the two institutions. The deal, pending shareholder and regulatory approval, will see Colonial BancGroup acquire Farmers and Merchants for $10 million in cash and common stock. This move
