LEXINGTON, Ky. - (11/24/04) -- A former employee at Trane CUconfessed in court Tuesday to concocting a fake robbery at thecredit union to conceal his theft of as much as $120,000. BradleyElkins pleaded guilty to charges of embezzlement, tellingauthorities he made up a story of being robbed to cover his trail.Elkins estimated he stole between $104,000 and $120,000 betweenlast December and this July. He is scheduled to be sentenced onFeb. 17.
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The Federal Open Market Committee's decision to reduce interest rates for the first time in nine months lifted bank stocks Wednesday. The 25-basis-point reduction could lead to net interest income headwinds now, but loan growth later, analysts said.
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