CREDIT/DEBIT/ATMs:
H. KURT HELWIG was named executive director of the Electronic Funds Transfer Association, in the latest of a series of reshufflings.
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WASHINGTON:
PHILIP S. CORWIN, director and counsel for retail banking and operations at the ABA, will join a private lobbying firm and bring along a nice golden parachute - a multiyear contract to consult for the trade group. Page 2
REGIONAL BANKING:
SAN FRANCISCO-based First Nationwide will pay $71 million for Home Federal Financial - 134% of the thrift's tangible book value. Page 6
INVESTMENT PRODUCTS:
A SMALL Ohio-based brokerage, Butler, Wick & Co., is setting up a local trust company to compete with the big banks that run trust businesses in the state. Page 8
IN ADVANCE of their pending merger, Chase and Chemical have chosen a Chemical executive to lead insurance sales at the new Chase. Dennis R. Kosovac is president of Chemical Insurance Agency.
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COMMUNITY BANKING:
HEARTLAND BANK in Jewell, Kan., has strayed from farm lending over the years - and business has suffered. For the bank's new president, it's a tale with a moral: Don't forget where you came from.
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CUTBACKS at the ABA's Stonier school signal the end of an era, Paul Nadler writes.
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MORTGAGES:
THE LARGEST mortgage lenders have failed to dominate any single market, leaving ample room for regional lenders to grab share, according to a study by TRW Redi Property Data. The largest lenders in most areas produce well under 10% of all home loans there.
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CREDIT UNIONS:
THE INDUSTRY'S largest credit card company, trade group-owned CUNA Card Services, is looking for a rebirth, but its critics doubt it can rise from the ashes of a dismal 1995.
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MILITARY-AFFILIATED credit unions are mobilizing to support U.S. peacekeepers in Bosnia and Herzegovina. The institutions plan to extend help and financial services to the 20,000 troops. "Back home there are going to be some leaky roofs to take care of," says Pentagon Federal's CEO.
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TECHNOLOGY:
BANK SYSTEMS stocks ended last week mainly lower, as investors continued to lock in profits after a banner year for the technology sector.
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FINANCE:
PITTSBURGH'S PNC Bank Corp. continues to have the highest short interest among banks traded on the New York Stock Exchange. Arbitrage related to its pending purchase of Midlantic pushed short sales to 17% of PNC shares outstanding.
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