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2Q Results

TIB Financial of Florida Posts Wider Loss

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TIB Financial Corp. of Naples, Fla., said its net loss nearly tripled in the second quarter as it awaits a takeover by North American Financial Holdings Inc.

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The $25 billion mortgage robo-signing settlement is:
Political extortion from the banks in an election year
A slap on the wrist — the banks put reserves away for this long ago, they won't even feel it
A source of relief for both banks and homeowners that could help the housing market and economy recover
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