WASHINGTON - (02/28/05) -- CUNA reported net income of morethan $1.4 million for 2004, based on accelerated earnings in itsinvestment portfolio. Earnings on CUNA investments soared to$702,000 for the fourth quarter, up from a projected $172,500,according to Allan McMorris, treasurer of the CUNA Board, who gavethe annual financial results during Saturday's CUNA Board meeting.Net income form operations was also positive for last year by$153,000. "This was a very good year, financially," McMorris toldThe Board. CUNA reported net income of just $450,000 the yearbefore, after two years of losses. CUNA's service subsidiary, knownas CSSI, of which CUNA owns a 51% stake, also broke into the blackfor the first time in 2004, to the tune of $702,000. For the year,CUNA reported total revenues of $46.1 million and total expenses of$45.7 million.
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At a time of mild or nonexistent loan growth, middle-market borrowers in the Lone Star State are providing a boost to Fifth Third Bancorp and Huntington Bancshares.
April 19 -
New details have emerged about the negotiations that culminated in Capital One's blockbuster $35 billion agreement to acquire Discover. At one point last December, the two parties broke off discussions, according to a securities filing.
April 19 -
According to the Federal Reserve Board's latest financial stability report, persistent inflation and policy uncertainty are the primary worries for banks. Survey respondents expressed heightened anxiety over murky policy outlooks due to geopolitical turmoil and rapidly approaching domestic elections.
April 19 -
The Alabama regional lender says it expects expenses to taper off this year and anticipates challenged loans will gradually rise to historically average levels.
April 19 -
Truist Financial's top executive leadership team announces departures; First Horizon's chief credit officer is retiring; Ferry teams with Highnote to roll out a new Visa-branded payroll card; and more in the weekly banking news roundup.
April 19 -
The Dallas-based regional bank tapped a client for its co-pilot capabilities, where employees can message a bot instead of a human to get tech assistance.
April 19