WALL, N.J. – A member of First Financial FCU who won a new Honda Accord turned around and gave it to her parents to say thanks for all they have done for her. First Financial gave the car away as part of a sweepstakes open to new or existing members who opened a qualifying account. The purpose of the promotion was to ‘shift’ the members’ banking relationship to First Financial. The $180-million First Financial reported that in addition to having more than 1,000 ACH transactions switched over to the credit union, the promotion brought in $1.3 million in core deposits, $3.7 million in auto loans, and more than $2 million in home equity loans and lines. After receiving more than 10,500 entries, Deborah Stabile-Wisniewski’s name was drawn. A single mother of three, Stabile-Wisniewski told the credit union that she was giving the car to her father, whose car broke down the week prior. She went on to explain that 2006 was the year that she wanted to become financially healthy and that she purchased a new car in October 2006, never thinking that she could possibly win. She said that her parents have always been there for her – watching her children while she works nights at the hospital and have never asked for a dime.
-
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