EUGENE, Ore. - (06/15/06) OnPoint Community CU said itwill open a branch in Eugene, two years after a failed merger witha local credit union that would have established a foothold in thestates second largest city. OnPoint, formerly known asPortland Teachers CU, plans to open a 4,300 square-footfull-service service center to serve fast-growing Lane County.OnPoint, which claims $2.1 billion in assets, tried to enter theEugene market by a proposed merger with Eugene-based OregonCommunity CU in 2004, but the deal eventually wasscotched.
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The New York-based bank, which serves plaintiff law firms, agreed to pay $348 million for a Windy City community bank.
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A New York state bill would reduce the barrier for minority-bank and community-bank participation in the state's long-standing Banking Development District program.
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The conflict pushed oil price futures above $100 a barrel for a short time earlier this week, which affected bond investors and the 10-year Treasury yield.
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