Ailing ATM ISO Delays Financial Reporting

Published March 26, 2007, 1:00 a.m. EDT

|

Updated August 27, 2020, 1:59 a.m. EDT

1 Min Read

PORTLAND, ORE. - TRM Corp., the nation's second-biggest independent operator of ATMs and a key credit union partner, has delayed the filing of its fourth quarter and annual reports while the company struggles to account for a major restructuring.

Processing Content

The company, which reported a massive $105 million third quarter loss as it wrote down major assets, said it requires additional time to complete its consolidated financial statements. Since its third quarter report, TRM has raised more than $100 million with the sale of half of its business, including ATM operations in Canada and the United Kingdom, and its former core business of copier rentals.

TRM, which operates more than 17,000 ATMs in the U.S., provides about 6,000 machines for the CO-OP Network.

For reprint and licensing requests for this article, click here.

MORE FROM AMERICAN BANKER

Federal Reserve

Fed extends deadline for Regulation O comments

The central bank extended the deadline for comments on Regulation O by one month, to Nov. 4.

By Maria Volkova
Reporter

October 2
Digital banking

Nubank shuts down rumors it's buying Monzo

The Brazil-based digital bank, which recently launched a U.S. business, submitted an SEC filing to stop the spread of misinformation.

By Melinda Lucy
Tech Reporter

October 2
The Clearing House Association

The Clearing House plots next gen settlement for on-chain network

The bank-owned payments company has been developing an interoperable payments network that will allow banks to clear and settle tokenized deposit transactions. It's targeting an early 2027 launch for the network, and is working toward an atomic future thanks to bank demand.

By Joey Pizzolato
Reporter

October 2
CDFIs

As CDFIs face headwinds, states bolster their support

More states are providing funding to community development financial institutions, which are contending with hostility from the Trump administration and challenges from high interest rates.

By Kevin Wack
Banking Editor

October 2
Industry News

Northern Trust begins search for CFO to succeed Fox

Chicago-based Northern Trust has started its search for a new CFO as David Fox plans to retire in March; the American Fintech Council has been appointed as an observer on the Conference of State Bank Supervisors' newly formed nonbank industry advisory; Wells Fargo has hired JPMorganChase investment banker David Harkin to advise on technology deals, and more in this week's banking news roundup.

By Traci Parks
Copy editor, American Banker

October 2
Regulation and compliance

SEC seeks to ease advisors' custody burdens with discretionary trading

A proposal is meant to ensure advisors can trade client assets on a discretionary basis without triggering onerous custody requirements, while also giving them a self-custody option for crypto.

By Dan Shaw
Reporter

October 2

Load More