SAN DIEGO - (04/11/05) -- A former operations manager forNorth Island CU was sentenced to 15 months in prison Friday forstealing $338,000 from the credit union, which she spent to financea lavish lifestyle. Authorities said Leanne Truitt, 40, of ImperialBeach, used the credit union funds to pay for parties, a new pool,trips to Las Vegas and designer clothing. Truitt pleaded guilty tomaking false entries in the credit union's books to make it appearthe branch had more money than it actually did. Herresponsibilities at the credit union included ordering cash fromthe Federal Reserve and reconciling cash balances.
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Strong loan and deposit growth led to a double-digit increase in revenues and an even bigger jump in profits at the Columbus, Ohio-based regional bank.
October 17 -
Flagstar shareholders approved a plan to merge its holding company into the bank; Huntington tapped a new chief auditor, along with two new business leaders; First Foundation hired a new chief credit officer; and more in this week's banking news roundup.
October 17 -
In a tough quarter for the auto industry, the Detroit-based lender posted earnings that sped past Wall Street's expectations.
October 17 -
Approximately three years after the one-time non-depository bought Roscoe (Texas) State Bank, Cornerstone Capital Bancorp agreed to purchase Peoples Bancorp.
October 17 -
Regional banks say their asset quality is solid amid skittish investors. The KBW Nasdaq Regional Banking Index was largely stable Friday after falling by as much as 7% the day before.
October 17 -
Coordinated sanctions target two networks behind so-called pig butchering scams, human trafficking and money laundering for North Korean cybercrime groups.
October 17