Commercial banks
The Big Three US banking companies, J.P. Morgan & Co., Chase Manhattan Corp., and Citicorp, released their fourth-quarter earnings, showing a mixed bag in the face of the Asian currency and economic crisis. While J.P. Morgan reported a 35% drop in profits, Chase Manhattan and Citicorp saw stronger
Commercial banks
Tyson Foods Inc., the leading poultry producer, was fined $4 million for giving gifts to former Agriculture Secretary Mike Espy. The company's sentence included a four-year probation and a threat to be barred from doing business with the government if it didn't comply with the terms.
Commercial banks
NationsBank, a leading financial institution, has teamed up with VeriSign, a pioneer in Internet security services, to provide secure electronic commerce solutions over the Internet. This strategic partnership aims to offer a secure environment for NationsBank to conduct large-scale electronic commerce globally, while also ensuring the privacy and security of
Commercial banks
NationsBank Corporation has completed the largest-ever acquisition in the banking industry with the closing of its purchase of Barnett Banks, Inc., creating a preeminent banking company in Florida and the third-largest in the United States. The combined entity now spans 16 states and the District of Columbia, with over 3,
Commercial banks
Sumitomo Trust & Banking Co. (U.S.A.), a subsidiary of Japan's largest bank, The Sumitomo Trust & Banking Co. Ltd., with total trust assets of US$263 billion as of March 1997, has selected SunGard Asset Management Systems as its software solutions partner for its new millennium.
Commercial banks
The merger between Resource Bancshares Mortgage Group, Inc. (RBMG) and Resource Bancshares Corporation has been approved by their stockholders, paving the way for the two companies to combine their operations. The proposed merger, which was first announced in 1997, will result in stockholders of Resource Bancshares Corporation receiving 1.13747
Commercial banks
The Board of Directors of Patapsco Bancorp, Inc., the parent company of The Patapsco Bank, has declared a cash dividend in the amount of $0.10 per share. This decision was made in light of the company's financial condition and results of operations. The dividend will be payable
Commercial banks
Peoples Bancorp Inc. announced the successful completion of its acquisition of Russell Federal Savings Bank, a federal savings bank subsidiary, for approximately $9.25 million in cash. The acquisition was effective January 1, 1997, and marks a significant milestone for Peoples Bancorp, a Marietta, Ohio-based financial institution with total assets
Commercial banks
Hemet Federal Savings and Loan Association, a 76-year-old community banking institution with over $1 billion in assets and 19 branches across North San Diego County and the Coachella Valley area in Riverside County, has appointed Mark R. Andino as senior vice president and CFO. Andino brings extensive experience in the
Commercial banks
Security Bank Holding Co. has made a strategic investment of up to $2.0 million in Lincoln Security Bank, a new bank being formed in Newport, Oregon. This move is part of the company's growth strategy to expand into new geographic areas while maintaining a focus on local
Commercial banks
Hibernia has expanded its coverage of northeast Louisiana to five parishes from three after its merger with FNB Bancshares, Inc., parent of First National Bank of Lake Providence, became effective on January 1, 1996. The merger had been approved by regulators and FNB shareholders. With this expansion, Hibernia's
Commercial banks
Haven Bancorp, the holding company for Columbia Federal Savings Bank, has received regulatory approval to launch its third share repurchase program. The program authorizes the repurchase of up to 225,537 shares of common stock, which is approximately five percent of the company's outstanding shares of 4,510,
