Commercial banks
Union Bank reported a notable increase in net income for the third quarter of 1995, more than doubling the earnings from the same period in 1994. The bank's net income applicable to common stock was $57.8 million, up from $22.6 million in the third quarter of
Commercial banks
Turner Corp., the nation's leading general builder, has been awarded a significant $100 million contract to construct a new office building for Swiss Bank Corp. in Stamford, Conn. The project, which will be completed in less than two years, will feature a 12-story building with 580,000 square
Commercial banks
BayBank, a leading bank in New England, has announced the introduction of HomeLink, a full-function "real-time" home banking product that will revolutionize the way customers manage their finances from the comfort of their own homes. This innovative product will be available to customers in a MAC or Windows
Commercial banks
Banknorth Group Inc., a leading financial institution in New England, has announced a major expansion into the Massachusetts market with the acquisition of 13 branches from Shawmut Bank. The acquisition, valued at $33.2 million, is Banknorth's first in Massachusetts and marks a significant step in the company&
Commercial banks
North Fork Bancorporation Inc., a commercial bank headquartered on Long Island, has agreed to purchase 10 Long Island branches of First Nationwide Bank with total deposits of approximately $590 million for $37.5 million in cash. This acquisition is part of North Fork's strategy to expand its presence
Commercial banks
The parent company of Southern California Bank has announced further restructuring measures to boost ongoing profitability. As part of this plan, SC Bancorp will incur approximately $1.9 million in one-time, pre-tax charges in the third quarter, affecting its quarterly and year-to-date performance. The restructuring actions are aimed at reducing
Commercial banks
Reliance Bancorp, Inc., a holding company for Reliance Federal Savings Bank, has announced a 15% increase in its regular cash dividend for the quarter ending September 30, 1995. The new dividend of $0.115 per common share is up from the previous quarter's dividend of $0.100. This
Commercial banks
Enfield Savings Bank, a North Carolina-chartered mutual savings bank, has completed its conversion to a stock savings bank. This significant change was approved by the bank's depositor and borrower members at a Special Meeting on June 23, 1995. As part of the conversion, the bank's holding
Banking industry
Hewlett-Packard Company has been awarded a contract to build a global risk-management system for Tokyo-based Sakura Bank, which will cover trading positions in London, New York, Tokyo, Hong Kong, and Singapore. The project will involve the use of HP 9000 business servers, HP Openview network-management software, and products and services
Banking industry
BayBank, a pioneer in the adoption of Internet banking, has launched an innovative World Wide Web site targeted specifically at college students. This interactive site, accessible at http://www.BayBank.com, features a "BayBank Hall" that recreates a typical New England college dorm, complete with a bulletin board,
Commercial banks
China has experienced a significant upswing in foreign direct investment (FDI) since the introduction of its open-door policy in 1979. However, to maintain its competitiveness and attract further investment, China needs to offer more concrete incentives to foreign investors. The country's growth in gross domestic product (GDP) and
Commercial banks
KeyCorp and its subsidiary Society National Bank have launched a fundraising initiative in support of the 1995 United Way campaign in Greater Cleveland. The initiative encourages customers to use their ATM cards at the bank's MAC machines more frequently throughout the month of September, with a guarantee of
