PORTLAND, Ore. - (04/06/05) -- TRM Corp. said costs associated withlast fall's acquisition of eFunds' sprawling ATM fleet pushed downnet income for is fourth quarter by 73% to $500,000, or two cents ashare, compared to the fourth quarter in fiscal 2003. Still, theacquisition of eFunds' 15,800 cash machines, which made TRM thenation's second-largest independent operator of ATMs, helped fuel a45% rise in annual earnings over 2003 to $7.9 million, or 56 centsa share. The eFunds deal pushed up revenues for the fourth quarterby 69% to $42.3 million, and for the year by 33% to $126 million.The eFunds ATMs form the basis of The CO-OP Network, which connectsto about 10,00o of the machines. Cardtroncs, which claims 27,000ATMs, is the only independent operator with a larger ATM fleet thanTRM.
-
As AI and digital assets become mainstream, banks are spotting new opportunities to integrate payments with other activities.
July 4 -
House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
July 3 -
A new partnership with Google Cloud will let the Spanish bank offer Gemini to all staff after a successful ChatGPT deployment.
July 3 -
Atlanta-based CoastalSouth's initial public offering prices at $21.50 a share; Valley National Bancorp announces Lyndsey Sloan will succeed Gary Michael as general counsel; Webster Financial Corporation taps a new chief risk officer and appoints a new board member; and more in this week's banking news roundup.
July 3 -
Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
July 3 -
In a rare move for a credit union, the Seattle institution has snapped up the 13-member team that created EarnUp's AI Advisor product.
July 3