Commercial banks
Edward E. Crutchfield, the former chief executive of First Union Corp., earned the nickname "Fast Eddie" for his aggressive approach to buying banks, building the company into the country's sixth largest bank with 2,600 branches along the Eastern seaboard. Despite being absent from recent blockbuster
Commercial banks
The banking industry is on the cusp of a significant shift, as two major players, NationsBank Corp. and BankAmerica Corp., prepare to merge, creating the nation's first coast-to-coast bank. The deal, which will result in a stock-for-stock transaction, will make the combined corporation the second-largest bank holding company
Commercial banks
Banc One Corp., a Columbus, Ohio-based bank, is set to acquire First Chicago NBD Corp. in a record-breaking deal worth approximately $30 billion in stock. The acquisition, pending approval, will create the largest bank in the Midwest, with Banc One shareholders owning 60% of the company and First Chicago investors
Commercial banks
In a shock move that has sent bank shares soaring, Travelers and Citicorp have merged to create the world's largest bank holding company, Citigroup. The deal, valued at $166 billion, has left the industry scrambling to keep up, with rivals already vying for partnerships and acquisitions. Sandy Weill,
Commercial banks
The Birmingham Midshires Building Society has found itself at an impasse, with Royal Bank of Scotland (RBS) set to lose its bid to take over the building society. To resolve the situation, RBS is seeking compensation from Midshires, which would allow it to accept a significantly higher offer from Halifax.
Commercial banks
The leading finance union, Banking Insurance and Finance Union (BIFU), has expressed concerns over the potential takeover of Birmingham Midshires Building Society by Halifax, citing job losses and duplication of branches as the primary issues. BIFU representatives have urged the society to stick with its agreed takeover by the Royal
Commercial banks
Halifax's chief executive, Mike Blackburn, has urged the Royal Bank of Scotland to allow the Birmingham Midshires building society to discuss the Halifax's rival takeover bid. The move comes after the Yorkshire-based organisation accepted that its original pounds 630 million bid could not be put to
Commercial banks
The Halifax has called on the Royal Bank of Scotland to release Midshires from its exclusivity agreement, following the bid of £780 million by the Halifax for the Birmingham-based building society. The Royal Bank previously agreed a £630 million deal with Midshires in August, but Halifax's higher offer
Commercial banks
Birmingham Midshires has written to Royal Bank of Scotland, seeking permission to engage in discussions with Halifax after the latter made a rival offer of £780m for the building society. This move is a result of the stalemate that has arisen from the original bid by Royal Bank of Scotland,
Commercial banks
The Royal Bank of Scotland has lost out on its bid to acquire the Birmingham Midshires Building Society after refusing to increase its offer price in response to a higher bid from rival bank Halifax. The Halifax's offer valued the building society at $780 million, significantly higher than
Commercial banks
Halifax, the UK building society, has made a surprise £800 million offer for Birmingham Midshires, a move that could give its 1.24 million members an average £150 windfall. The offer is said to be up to 25 per cent higher than the current suitor, Royal Bank of Scotland'
Commercial banks
A brazen bandit in pinkish-orange sunglasses and black gloves targeted two High Point banks, First Bank and NationsBank, on Monday morning, but his plans were foiled by security glass at the first location, prompting him to move on and rob the second bank. The suspect, whose identity remains unknown, entered
