-
Royal Financial in Chicago has agreed to buy PNA Bank in Chicago.
November 14 -
The repeal of the swaps push-out provision will reduce banks' operational costs, but it makes little difference in terms of increasing the size of the government safety net. The reason: with or without the rule, the government protects the swaps contracts of the largest institutions.
December 18 -
Toronto-Dominion Bank's second video smash hit is the latest example of how marketing is evolving to suit digital audiences' tastes. The key to the video's success is an emphasis on customers and community, not the TD brand.
December 23
A federal bankruptcy court has approved the sale of PNA Bank in Chicago.
Last month Royal Financial, also in Chicago, agreed
Royal's next step will be to file for merger approval from state and federal regulators, which it expects to complete by the second quarter. Royal would gain slightly under $100 million in assets, pushing its total to $232 million.
"We are pleased with the court's decision today, which removes the cloud of FLC Holding's bankruptcy from PNA Bank and enables us to move forward with applications for regulatory approval," Jim Fitch, the chairman of Royal Financial, said in a press release.
Royal Financial is the parent company of Royal Savings Bank, which would absorb PNA.
