MILWAUKEE - (10/15/04) -- Marshall & Ilsley said thirdquarter earnings climbed 11% to $155.4 million, or 69 cents ashare, due to the continued growth in its Metavante financialservices unit. Total non-interest income for the bank holdingcompany rose 13% for the quarter to $367.9 million. Through thefirst nine months of the year net income increased 12% to $453.3million, or $2.01 a share, and on-interest revenues, most of itearned by Metavante, climbed 11% to $1 billion. Metavante, a whollyowned unit of M&I, has completed six major acquisitions in thefirst three quarters, including the NYCE electronic funds network,Advanced Financial Solutions (AFS), owner of the CheckpointExchange check clearing network, the Kirchman Corp. and ResponseData, a provider of bill pay and check processingservices.
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Lake Shore Bancorp in Western New York has reached a "standstill agreement" with the Stilwell Group, which has promised not to force a merger or sale in the next three years.
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Swiss banking giant UBS Group received federal approval from the Office of the Comptroller of the Currency to convert its $1.6 trillion-asset UBS Bank USA from a Utah-chartered industrial bank to a national charter.
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Early industry reaction to the Federal Reserve's Basel III proposals points to potential capital relief for banks, though stakeholders say the complexity of the changes makes their overall impact unclear.
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Financial institutions that delay or fail to take this leap risk losing customers and revenue, said speakers at the inaugural On-Chain Executive Summit.
March 20 -
CISA and Microsoft urge organizations to secure endpoint management systems as threat actors increasingly seek to disrupt operations with wiper malware.
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Piermont Bank hired Dennis Day for a new executive role focused on payments; the American Bankers Association announced the global expansion of its widely used Fraud Contact Directory; MC Bankshares moved one step closer to finalizing its sale to an investor group; and more in this week's banking news roundup.
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