Banking industry
Lockport Savings Bank, a wholly owned subsidiary of Niagara Bancorp, Inc., has completed its purchase of Empire National Leasing, Inc., a nationwide provider of equipment lease financing based in Buffalo, N.Y. This acquisition is part of Lockport Savings Bank's expansion efforts to become a one-stop financial center.
Banking industry
Webster Bank has announced the appointment of Francis P. Duggan as senior vice president of Internet Development, as part of its efforts to enhance its online financial services offerings. Duggan will lead the development of Webster's Internet strategy, focusing on designing, implementing, and supporting online financial products and
Banking industry
In a press release dated December 29, ISB Financial Corporation (Nasdaq: ISBF), the holding company for IBERIABANK, announced restructuring strategies aimed at enhancing operational efficiency and profitability as the company transitions into the new millennium. The restructuring plans involve significant charges, including a $1.3 million pre-tax charge, which will
Banking industry
First Financial Bank, a leading community bank, is taking a significant step forward in its growth strategy by opening a Trust Office in Philadelphia. This new office will operate within the Philadelphia Corporation for Investment Services (PCIS) office at One Liberty Place, marking the bank's first foray into
Banking industry
A 19-year-old man who hacked into America Online's (AOL) computers, causing $50,000 in damages, has been sentenced to a year in jail and five years without a home PC. Meanwhile, John B. McCoy is stepping down as the head of troubled Bank One Corp., with Verne Istock
Banking industry
The securities class action lawsuit was filed against Bank One Corp., First USA, and certain officers and directors on behalf of all persons and entities who purchased Bank One stock during the period from October 22, 1998, to November 10, 1999. The complaint alleges that defendants made false and misleading
Banking industry
BancWare, a leading provider of integrated asset-liability management (ALM) and financial planning and forecasting solutions, has been selected by Richmond County Savings Bank to implement its Convergence solution. As a $2.8 billion asset bank headquartered in Staten Island, NY, Richmond County Savings Bank was seeking a tightly integrated ALM
Banking industry
Washington Mutual, Inc. and Franchise Finance Corporation of America (FFCA) have entered into a strategic alliance for the sale and purchase of commercial loans, enabling Washington Mutual to add high-quality, high-yield assets to its portfolio. The agreement allows FFCA to continue its rapid growth with less reliance on new capital
Banking industry
Provident Financial Group, a Cincinnati-based commercial banking and financial services company, has completed its acquisition of OHSL Financial Corp. and its subsidiary, Oak Hills Savings and Loan Company. The acquisition, which took effect on December 3, 1999, marks a significant expansion of Provident's assets and retail banking network
Banking industry
Charter One Financial Inc., the parent company of Cleveland-based bank Charter One, is rapidly transforming operations at St. Paul Bancorp, Chicago's largest independent thrift, following its acquisition on October 1. The company is discontinuing the St. Paul brand and overhauling the bank's management, loan sales, and
Banking industry
British Telecom (BT) expressed optimism on its Asia-Pacific joint ventures, expecting revenues to surge to £1 billion this financial year. The ventures have served 30 million customers, with BT investing £2 billion to date. Meanwhile, the Royal Bank of Scotland's takeover of NatWest has hit a snag, with
Banking industry
The Royal Bank of Scotland has made a bid to acquire NatWest, but the bid's terms have raised concerns over the uncertainty surrounding its approval and the competition from Bank of Scotland. According to reports, Royal Bank of Scotland gave NatWest just 24 hours to approve the deal,
