MIDDLE ATLANTIC

As financial institutions across the country confront mounting piles of repossessed properties, Sovereign Bank in Dallas is using an unusual strategy to clear its inventory and clean up its balance sheet.

DENVER – The Credit Union of Colorado is expanding its branch network with a new facility in nearby Parker.

WICHITA, Kan. – Cessna Employees CU, which has watched thousands of its members lose their jobs during the past seven months, is constructing a free-standing branch at Cessna’s Pawnee facility.

ALEXANDRIA, Va. – Pentagon FCU yesterday it is expanding its operations in Omaha, Neb., with the addition of a second customer-care center to handle mortgages and collections.

To the Editor:

Chris Bauer, who took the helm last month at Anchor BanCorp Wisconsin, has a plan to shore up the listing Madison company, but acknowledges he may not have enough time to execute it.

ALLENTOWN, Penn. – People First FCU will give away a 42-inch HDTV as part of the opening of its newest branch, the $300 million credit union’s sixth.

WICHITA, Kan. – Catholic Family FCU said it will build a second branch and house its administrative offices there.

Federal banking regulators have reached an agreement with Amboy Bancorp. through which the New Jersey bank has pledged to take actions aimed at strengthening its capital position.

Lee Bradley, who has spent much of the last two decades raising start-up capital for banks, is turning his energies to recapitalizing them.

WORCESTER, Mass. – Webster First FCU has opened an 85,000-square-foot operations center in Worcester, next to one of its branches.

The uber-capitalized Iberiabank Corp. may soon have a way to put its extra cash to work.

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The struggling Irwin Financial Corp. is selling branches and loans to buy time as it negotiates with the government to come to its rescue.

The ailing Temecula Valley Bancorp Inc. has lost its lifeline.

With the Bank of Lincolnwood's demise last month, Illinois briefly tied Georgia for the dubious distinction of having the most bank failures this year.

NB&T Financial Group Inc. in Wilmington, Ohio, has agreed to buy Community National Corp. in Franklin for $6.8 million in cash and stock.

There are a couple of slides that I use in presentations that seem to be getting more head nods than usual these days. My suspicion is that the increased internal and external stress that branch teams are feeling makes these particular subjects hit home.