EDINA, Minn. - (06/14/05) -- Call it a consolation prize, if youwill. Dean Wickstrom, the president of Real Financial Centers CU,won't be seeing the $50,000 reward offered for his role in thecapture of the state's most prolific bank robber because employeesare not eligible for the prize. But Wickstrom, who helped trackdown the man responsible for as many as 25 credit union robberiesover a two-year period may end up with a prize anyway--anautographed replica of the robber's trademark fishing hat, worn inmany of the hold-ups. Wickstrom, who helped track the bandit forauthorities after the January robbery at his credit union, recentlyreceived a letter from jail the bandit, John Whitrock. In it the57-year-old serial robber apologized for scaring Wickstrom'stellers and offering an autographed replica of his signaturefishing hat. The man dubbed the Fishing Hat Bandit had read in thelocal newspaper about Wickstrom's request for the hat fromauthorities, who turned him down because the hat is evidence.Whitrock, who never showed a gun, pleaded guilty last month to 21counts of bank robbery and one count of attempted robbery and isbeing held in the county jail while awaiting sentencing.
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Lake Shore Bancorp in Western New York has reached a "standstill agreement" with the Stilwell Group, which has promised not to force a merger or sale in the next three years.
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Swiss banking giant UBS Group received federal approval from the Office of the Comptroller of the Currency to convert its $1.6 trillion-asset UBS Bank USA from a Utah-chartered industrial bank to a national charter.
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Early industry reaction to the Federal Reserve's Basel III proposals points to potential capital relief for banks, though stakeholders say the complexity of the changes makes their overall impact unclear.
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Financial institutions that delay or fail to take this leap risk losing customers and revenue, said speakers at the inaugural On-Chain Executive Summit.
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CISA and Microsoft urge organizations to secure endpoint management systems as threat actors increasingly seek to disrupt operations with wiper malware.
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Piermont Bank hired Dennis Day for a new executive role focused on payments; the American Bankers Association announced the global expansion of its widely used Fraud Contact Directory; MC Bankshares moved one step closer to finalizing its sale to an investor group; and more in this week's banking news roundup.
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