Commercial banks
As the banking industry heads into 1995, management consultants at Towers Perrin are predicting a severe primary spread squeeze for U.S. commercial banks, driven by increased competition from non-bank loan origination and demand for investment-quality loan-backed securities. The consultants also expect mortgage origination volumes to remain below 1993-94 record
Commercial banks
First Federal Financial Corporation of Kentucky, a $320 million financial holding company, has completed its merger with Bullitt Federal Savings Bank in an all-cash transaction. The merger will provide First Federal access to the growing Bullitt County community and expand its lending activities into a new market. Under the terms
Commercial banks
Intercontinental Bank, one of the largest independent banks in Florida, has expanded its presence in South Florida with the acquisition of Boca Bancorp and its subsidiary, Boca Bank. The deal, valued at $4.9 million, marks the bank's seventh acquisition in three years and its first in Palm
Banking industry
Bauer Financial Reports Inc. has evaluated bank data for the quarter ended September 30, 1994, and reported that only 183 banks out of 11,199 banks reporting, less than 2%, failed to meet federal capital requirements or were projected to fail to meet capital requirements in the fourth quarter 1994.
Banking industry
Union Planters Corp. (NYSE:UPC), a leading financial institution, and Grenada Sunburst System Corp. (GSSC), a bank holding company, announced a merger on December 28, 1994. The agreement was approved by over 95% of shareholders from both companies, marking a significant expansion for Union Planters. The merged entity, effective December
Commercial banks
CoreStates Financial Corp, a regional bank with assets totaling $27 billion, has chosen the 20/20 Small Business Lending System developed by APPRO Systems to automate its credit evaluation process for small business lending. This decision aligns with the bank's strategy to streamline operations and provide enhanced customer
Commercial banks
State Commerce Commissioner Gualberto Medina encouraged more than 12 New Jersey banks to support the state's Disability & Non-Profit Micro Loan Fund, a program that provides loans to businesses run by individuals with disabilities or employing disabled people. The meeting was hosted by The Bank of New York
Commercial banks
Eldorado Bancorp, parent company of Eldorado Bank, has reassured investors about the impact of Orange County's bankruptcy filing on the company's operations. Despite the economic uncertainty, the bank's president, J.B. Crowell, maintains that Eldorado Bank has experienced no immediate impact from the bankruptcy.
Commercial banks
Citibank's Moscow subsidiary, Citibank T/O, has introduced a safekeeping service for Russian Federation Ministry of Finance issued US dollar-denominated (MinFin) bonds, catering to the growing demand from international customers. The new service is expected to be complemented by equity custody services, further expanding Citibank's securities
Commercial banks
As a leading bond insurer, AMBAC Indemnity Corp. has committed to ensuring timely payment of principal and interest to its policyholders in the event of a default by Orange County, California, which recently filed for bankruptcy. According to Phillip B. Lassiter, chairman, president, and CEO of AMBAC Indemnity Corp., the
Commercial banks
Peter E. Fisher, 47, has been promoted to the position of President and Director of Charter National Bank-Houston, the largest banking subsidiary of Charter Bancshares. Fisher, formerly Executive Vice President for Charter-Houston, will oversee the bank's operations while continuing to have supervisory responsibility over the area. The promotion
Banking industry
Fujitsu-ICL Systems Inc., the nation's third-largest supplier of automated teller machines (ATMs), has completed the installation of 20 of its Series 7000 ATMs at Mahoning National Bank in Youngstown, Ohio. The new ATMs replace all of the IBM 3624 ATMs that were previously installed at Mahoning, a community
