Banking industry
The proposed merger between midmarket Chase Manhattan Corp. and upper-crust J.P. Morgan & Co. Inc. will create a banking behemoth with $660 billion in assets, making it the third-largest player in the world. The deal, valued at $34 billion, combines Chase's consumer banking, mortgage, and insurance businesses
Banking industry
The two banking giants, Chase Manhattan Corp. and J.P. Morgan & Co., have agreed to merge in a deal valued at approximately $36 billion in stock. The combined firm, J.P. Morgan Chase & Co., will have assets of about $660 billion and stockholders' equity of more than
Banking industry
Tiffany and Co, an exclusive jewelry retailer, has announced that it will close its Southbank store in Melbourne for the duration of the World Economic Forum (WEF) next week due to concerns over potential clashes between protestors and police. The company, which has its premises in the Crown Casino complex,
Banking industry
Winston-Salem-based BB&T Corporation, the nation's 18th largest financial holding company, plans to acquire FirstSpartan Financial Corp. of Spartanburg, S.C., in a $103.9 million stock swap. The acquisition expands BB&T's presence in South Carolina's rapidly-growing Upstate region and increases
Banking industry
Flagstar Bancorp, a leading bank holding company, has announced the opening of its newest banking center in Fort Wayne, Indiana. This move marks the bank's second location within a Wal-Mart store in the city, as it continues to expand its presence in the region. The new banking center
Banking industry
Cleveland banks are investing in the local Hispanic community with a teller training program that aims to provide new career opportunities for residents. National City Bank, Fifth Third Bank, and Third Federal Bank have contributed to the program, which provides free training to students in core curriculum, computer skills, and
Banking industry
Washington Mutual, the nation's biggest savings and loan, has agreed to acquire Bank United, the largest financial institution based in Texas, in a deal valued at $1.5 billion. The acquisition will significantly increase Washington Mutual's presence in Texas, where it already has a connection through
Banking industry
After receiving approval from its Board of Directors, InterWest Bancorp, a $2.83 billion financial services holding company, will undergo a name change to Pacific Northwest Bancorp. This move will affect the company's commercial banking subsidiaries and will result in a unified brand identity across all 55 financial
Banking industry
Flagstar Bancorp, Inc. has opened its newest banking center in Coldwater, Michigan, its fifth Wal-Mart banking center. Located within the Wal-Mart store at 800 E. Chicago St., the new center extends operating hours from 10 a.m. to 7 p.m. Monday through Friday, 10 a.m. to 4 p.
Banking industry
Washington Mutual, the nation's third largest retail loan originator, has teamed up with Organic, Inc. to launch a new mortgage web site, wamumortgage.com. The site aims to provide a user-friendly online experience for customers to research, apply for, and be approved for a mortgage online. The redevelopment
Banking industry
Investors showed renewed optimism in the UK banking sector this week, following Barclays' £5.4bn bid for Woolwich, a former building society. The news sparked a significant rally in bank share prices, with many increasing by over 5% in a single day. However, despite the positive short-term trend, many
Banking industry
The long-struggling mortgage bank sector saw shares of several institutions surge on hopes that Barclays' proposed acquisition of Woolwich could spark a wave of bids for other banks. Shares jumped by 4-6% with Abbey National, Alliance & Leicester, Northern Rock, and Halifax seeing gains of 19p, 31p, 25p, and
