How the Puerto Rican company's decision to sell operations in California, Illinois and central Florida fit into the plans of three community banks looking to grow.
Three of Certus' ousted executives depict a behind-the-scenes struggle at the Greenville, S.C., bank as management, directors and investors were often working at cross purposes. The lawsuit also discusses a possible merger with an unnamed bank that never took place.
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Harvard Illinois Bancorp wants to name the son of a retiring director to replace him. It says the son is qualified for the job, but investor Joseph Stilwell -- who is backing another nominee to the board -- disagrees.
The lawsuit claims that Benjamin Weinger of 3-Sigma Value conspired with certain directors to defame the executives before the board fired them earlier this month.
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The Buffalo, N.Y., bank's chief operating officer and chief financial officer discuss how M&T is spending tens of millions of dollars toward upgrading compliance with the Bank Secrecy Act and high-tech retail services. Its deal to buy Hudson City hangs in the balance.
The Portland, Ore., company aquired Sterling Financial last week. Though it created a $22 billion-asset regional player in the Pacific Northwest, CEO Ray Davis says the bank can keep its identify as a community bank.
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The Chicago-area company has shown a willingness to pursue small branch deals and expand in nearby Wisconsin as it looks for liquidity and lending opportunities.
Robert Wilmers, chairman and CEO of M&T Bank, told shareholders at its annual meeting that times are tough for banking and that the continued delay of its Hudson City deal, and associated high costs, are disappointing. But he insisted that the deal is still worth doing.
The company, which was an active acquirer before the financial crisis, has returned to its roots after a long hiatus brought on by the downturn and integration problems. Archie Brown, who became CEO in 2008, says the company is taking a more disciplined approach this time.
Joseph Stilwell used a photo of the then-chairman of Harvard Illinois snoozing at last year's annual meeting as part of his fight for representation on the board. Harvard's board accused Stilwell of waging his battle "in the gutter."
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New York's top financial services regulator Benjamin Lawsky has indicated he will hold individuals accountable in enforcement actions. But it’s imperative his agency – and... Read More
