LAS VEGAS – One Nevada Credit Union continues to show a robust turnaround.
ONCU reported net income of $1.1 million through Sept. 30, compared with a $2.4-million loss over the same period in 2011. It earned $530,764 during Q3.
The credit union, formerly known as Nevada Federal, has been among those hard hit by the economic decline in Nevada. As of Sept. 30 One Nevada reported $668 million in assets, including net worth of 9.7%.
Sens. Thom Tillis, R-N.C., and Angela Alsobrooks, D-Md., have released compromise language on stablecoin yield for a long-awaited crypto market structure bill, clearing the way for a markup in the near future.
The FDIC moved quickly on Friday to sell $288 million in assets Community Bank and Trust – West Georgia to Anchor Bank, but the sale announcement leaves the fate of $27 million in uninsured deposits to be determined.
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Banner Bank is poised to merge with Bank of the Pacific in an all-stock deal valued at $177 million. The two Washington-based commercial banks both have branches in Washington and Oregon.
BayFirst Financial in St. Petersburg named veteran Tampa-area banker Al Rogers as its CEO and announced an $80 million capital raise. The bank sold its SBA-lending business last year, but it's still struggling to work through problems in its legacy loan portfolio.
San Diego County Credit Union won a court ruling that should help in its effort to get out of its deal to merge with a local competitor. A lawyer for SDCCU said he believes the judge's decision "signals the end of any merger between the two institutions."
