ATLANTA - (10/28/04) -- Credit union outsourcer John H.Harland Co. said Wednesday net income fell 18% for its thirdquarter to $12.1 million, or 43 cents a share, due to a one-time$7.9 million impairment charge for development of new customer caresystems for the company's printed products unit. The companydecided that upgrading certain existing systems would be moreeconomical than continuing to develop new systems. Total revenuesrose 2% in the quarter to $196 million. Sales in the company's coreprinted products division continued to slump, falling less than 1%to $117.9 million for the quarter. For the first three quarters netincome was down 13% to $34 million, or $1.21 a share, on flatrevenue growth to $579.5 million.
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Liberty Bank in Salt Lake City had been "structurally unprofitable" since 2008, according to its regulators. Experts criticized the FDIC for allowing the bank's demise to play out in slow motion.
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The New York-based bank says it will push its concentration of commercial real estate loans below 400% of risk-based capital over the next two years and focus more on C&I.
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The San Francisco-based firm's Anchorage Digital Trusted Liquidity and Settlement network, better known as Atlas, will allow clients to settle a range of cryptocurrency transactions.
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Artificial intelligence models are energy hogs. Climate First Bank and UBS are among the very few trying to solve this problem.
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The FDIC board debated and ultimately withdrew two separate proposals to address asset managers' control over banks, but acting Comptroller of the Currency Michael Hsu said he couldn't support either and called for more research and debate about how asset managers' control over banks impacts safety and soundness.
April 25