New CU To Open

April 25, 2006, 1:00 a.m. EDT 1 Min Read

CHARLSTON, S.C. - (04/25/06) - Organizers of the newly charteredPort Trust FCU, the Charleston area's first new credit union inalmost 40 years, have hired a manager and plan to begin operationaround the middle of next month. The operation will be managed byDavid Torres, a local mortgage banker. Port Trust FCU, which willserve about 65,000 area residents, is one of two credit unionschartered in South Carolina so far this year. The other one isSouth Carolina Firefighters FCU in Columbia.

For reprint and licensing requests for this article, click here.

MORE FROM AMERICAN BANKER

Earnings

Huntington dials up its forecast after strong third quarter

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.

By John Reosti

October 17
Industry News

Flagstar's shareholders approve plan to dissolve holding company

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.

By Editorial Staff

October 17
Earnings

Ally beats expectations despite auto industry tumult

In a tough quarter for the auto industry, the Detroit-based lender posted earnings that sped past Wall Street's expectations.

By Nathan Place

October 17
Originations

Cornerstone Capital to acquire another Texas bank

Approximately three years after the one-time non-depository bought Roscoe (Texas) State Bank, Cornerstone Capital Bancorp agreed to purchase Peoples Bancorp.

By Brad Finkelstein

October 17
Credit quality

'Cockroaches' or 'isolated events'? Banks face credit nerves

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.

By Catherine Leffert

October 17
Cyber security

US seizes $15 billion in huge bust of cybercriminal group

Coordinated sanctions target two networks behind so-called pig butchering scams, human trafficking and money laundering for North Korean cybercrime groups.

By Carter Pape

October 17