Banking industry
Second Bancorp, a leading banking institution in Warren, Ohio, is set to embark on a significant expansion into Cuyahoga County with the acquisition of Enterprise Bank, a one-branch operation in Solon. The merger, announced last week, will see Enterprise Bank operate as a branch of Second National Bank of Warren,
Banking industry
Peter Wood, the founder of the Direct Line group owned by the Royal Bank of Scotland, has been appointed chairman of Northcross, a marketing, design, and exhibition company. Wood, credited with transforming financial services, set up Direct Line 13 years ago but left in June and stepped down as a
Banking industry
The Royal Bank of Scotland is expected to seek an external candidate to replace Iain Robertson as head of corporate and institutional banking, following his promotion to head of UK banking. This move comes after a reshuffle that has resulted in Tony Schofield's retirement and is part of
Banking industry
The Birmingham Midshires Building Society has opted out of recommending its members accept the Royal Bank of Scotland's £630 million takeover bid. This decision comes amidst a more attractive offer from the Halifax, valued at £780 million, which includes a potential 25% increase in the windfall bonus. Despite
Banking industry
The battle for Birmingham Midshires between Royal Bank and Halifax has taken a significant turn after the society's management announced it cannot recommend Royal Bank's $630 million bid to its members, citing concerns over its fairness and reasonableness. This move comes as the Building Societies Commission
Banking industry
The Yorkshire Building Society, the fourth largest in the sector, has reaffirmed its commitment to mutuality by returning £68 million to its one million members through lower mortgage rates and higher savings rates. This move comes as the building society reports a 28% increase in pre-tax profits to £55.3
Banking industry
The proposed takeover of Birmingham Midshires Building Society by Royal Bank of Scotland has hit a snag, as Halifax's counterbid of $780 million has emerged. Despite initial intentions to stick to the original $630 million plan, both parties are now reconsidering their strategies. The deal's fate
Banking industry
Royal Bank of Scotland's decision not to pursue Birmingham Midshires through a cash auction after a bid was agreed is seen as a strategic move, avoiding a potential legal battle. Halifax's bid, worth an average £600 to Midshires' members, compared to Halifax's £780,
Banking industry
Royal Bank of Scotland has refused to increase its bid for Birmingham Midshires, despite a rival $780 million offer from Halifax. The bank's offer, which valued Birmingham Midshires at between $605 million and $630 million, was rejected by the building society's board, citing concerns over the
Banking industry
Birmingham Midshires, a leading building society, has announced that its executives will be publishing their personal phone numbers in the organization's next annual report, in a bid to increase transparency and improve customer service. However, the move has been met with skepticism by Save Our Building Societies (SOBS)
Banking industry
The nationwide bid to host the 2006 FIFA World Cup has received a significant boost as the Nationwide Building Society signed on as the first official supporter, committing £1 million in backing. This move marks a crucial step in the bid team's efforts to secure business support, with
Banking industry
A recent surge in criticism from Philadelphia-area advocacy, church, and consumer groups regarding the impending job losses resulting from First Union Corp's acquisition of CoreStates Financial Services has sparked a distinct contrast to the more subdued response to the NationsBank purchase of Barnett Banks Inc. While 8,000
