RALEIGH, N.C. - (07/12/06)State Employees' Credit Union hasopened its 200th branch. The newest facility is in Hayesville, N.C.The credit union boasts one of the most extensive branch networksin the movement, with branches in 87 of North Carolinas 100counties to serve its more than 1.3 million members. Earlier thisyear, SECU CEO Jim Blaine told The Credit Union Journal the$13-billion credit union plans to continue expanding its branchingthroughout the state, reaching out to top-tier markets first andthen continuing to fill in from there.
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The Cincinnati, Ohio-based bank delivered third quarter earnings that mostly met expectations, even as it took a $200 million blow to credit.
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The Charlotte, North Carolina-based bank reported net income of $1.45 billion for the third quarter and earnings per share of $1.04, which beat analysts' forecast of $0.99 per share.
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Earlier in the day, Fed Gov. Stephen Miran chastised the Fed for wading into politics under the Biden administration, as he currently takes unpaid leave from President Donald Trump's top advisory council.
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CEO Chris Gorman applauded what he sees as a transformation of bank regulation since President Trump took office. He described a shift from layers of exams and documentation to a streamlined focus on liquidity, capital and earnings.
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Zions Bancorp. is among the latest banks to report material losses due to alleged borrower fraud. Stocks of regional lenders plunged on Thursday.
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Merchants alleged the major card networks illegally conspired to shift fraud liability onto them with the adoption of EMV chip technology.
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