BROCKTON, Mass. - (04/07/06) -- The son of the Rockland police chiefpleaded guilty Thursday to robbery charges in connection with astring of five hold-ups over 12 days last summer--including one atCrescent CU and another HarborOne CU. Kevin C. Donovan, 35, the sonof Police Chief Kevin Donovan, was arrested a few days after thelast heist hiding in a laundry room of a Randolph apartmentbuilding after leading police on a high-speed car chase from nearbyBrockton. The younger Donovan is a convicted bank robber who servedthree years in prison. He worked as lead singer in a local rockband called Gun Dog and posed in handcuffs with two men appearingto be local police officers in front of a police cruiser on theband's web site.
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The Cleveland-based bank is projecting steady growth in net interest income even as credit losses remain manageable. But Chairman and CEO Chris Gorman also said that he thinks a recession is likely.
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The first-quarter increase involved commercial real estate loans, including some problematic multifamily loans and an office credit, but none of the criticized loans were to consumers, officials at the Dallas company say. Further CRE deterioration is anticipated.
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The House Financial Services Committee also sent to the full House two bipartisan bills, including one that would prevent large banks from opting out of having to recognize Accumulated Other Comprehensive Income in regulatory capital.
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Amid healthy first-quarter loan growth and improving credit quality, Discover Financial Services slashed its profits by $800 million to offset remediation costs from a 16-year period when it overcharged certain merchants.
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