bizjournals (Free subscription) | 2 hours ago
Federal regulators closed San Francisco’s troubled United Commercial Bank — one of the nation’s largest banks serving the Chinese-American community — and sold the bank and its $6.5 billion in deposits to East West Bancorp. (EWBC)
Market Watch (Free subscription) | yesterday
A California-based bank that focused on the Chinese-American market was the largest of five failures on Friday that cost U.S. taxpayers more than $1.5 billion.
The Tampa Bay Business Journal (Free subscription) | 06/11/2009
New guidelines that change the way bank examiners view commercial real estate loans will free up capital for lending, according to Alex Sink, Florida’s chief financial officer. (STI) (BBT)
Science Daily (Free subscription) | yesterday
ScienceDaily (Nov. 7, 2009) — Cyber criminals are using fake messages claiming to be from the Federal Deposit Insurance Corporation (FDIC) to deliver a virus capable of stealing unsuspecting victims' bank passwords and other sensitive personal information, says Gary Warner, the director of research in computer forensics at the University of Alabama at Birmingham (UAB).
Credit Writedowns (Free subscription) | yesterday
Of the five, United Commercial is pretty darn big ($11.2 billion in assets) United Commercial Bank San Francisco, CA As of October 23, 2009, United Commercial Bank had total assets of $11.2 billion and total deposits of approximately $7.5 billion. East West Bank paid the FDIC a premium of 1.1 percent for the right [...]
The Charlotte Business Journal (Free subscription) | 06/11/2009
First Citizens BancShares Inc. gained more than just two acquisitions when it bought two failed West Coast banks during the third quarter. Thanks to arrangements with the Federal Deposit Insurance Corp. on the deals, First Citizens gained 320 percent in profit for the quarter, which ended Sept. 30. (FCNCA)
The Atlanta Business Chronicle (Free subscription) | yesterday
Federal regulators closed San Francisco’s troubled United Commercial Bank — one of the nation’s largest banks serving the Chinese-American community — and sold the bank and its $6.5 billion in deposits to East West Bancorp. (EWBC)
The South Florida Business Journal (Free subscription) | 06/11/2009
New guidelines that change the way bank examiners view commercial real estate loans will free up capital for lending, according to Alex Sink, Florida’s chief financial officer. (STI) (BBT)
The Jacksonville Business Journal (Free subscription) | 06/11/2009
New guidelines that change the way bank examiners view commercial real estate loans will free up capital for lending, according to Alex Sink, Florida’s chief financial officer. (STI) (BBT)
The San Francisco Business Times (Free subscription) | yesterday
Federal regulators closed San Francisco’s troubled United Commercial Bank — one of the nation’s largest banks serving the Chinese-American community — and sold the bank and its $6.5 billion in deposits to East West Bancorp. (EWBC)
USA Today (Free subscription) | 06/11/2009
... — insured up to $250,000 per account — is not at risk, with the backed by the government. The FDIC still has billions in loss reserves apart from the insurance fund. It can also tap a Treasury Department credit line of up to $500 billion.Last week, regulators shut nine banks — including California National Bank of Los Angeles, the fourth-largest failure this year with $7.8 billion in assets...
The Business Journal of the Greater Triad Aera (Free subscription) | 05/11/2009
“Under the purchase and assumption agreements with the FDIC, First Citizens received cash, investments securities, loans, foreclosed real estate, deposits and borrowings,” the bank says. “The loans and foreclosed real estate acquired are covered by loss-sharing agreements with the FDIC that provide significant loss protection to First Citizens.”
The Triangle Business Journal (Free subscription) | 05/11/2009
“Under the purchase and assumption agreements with the FDIC, First Citizens received cash, investments securities, loans, foreclosed real estate, deposits and borrowings,” the bank says. “The loans and foreclosed real estate acquired are covered by loss-sharing agreements with the FDIC that provide significant loss protection to First Citizens.”
The Dayton Business Journal (Free subscription) | 04/11/2009
... even if the restructured loans have weaknesses that result in adverse credit classifications, the FDIC said.
Wall Street Weather (Free subscription) | 04/11/2009
Published by WallStreetWeather.net A Full Moon occurs when the Sun and Moon are in opposition to one another, and the November 2 Full Moon in Taurus shines the spotlight on banking and lending practices. A front page story in The Wall Street Journal highlights the conflict between GMAC’s Ally Bank and the FDIC. The Federal Reserve granted GMAC emergency approval on Christmas Eve to become...
