DALLAS - (0/16/05) -- TNB Card Services said Monday it haspurchased four more credit card portfolios from separate creditunions, making more than 65 portfolios acquired by creditunion-owned TNB since mid-2002. The four new credit union dealswere for portfolios owned by: Great Plains FCU, Joplin, Mo.;SourceOne FCU, Brooklyn Center, Minn.; Hereford Texas FCU,Hereford, Texas; and Thiokol Ordnance FCU, Marshal, Texas. TNB is aunit of credit union-owned Town North National Bank ofDallas.
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The combination of two Pacific Northwest banks was supposed to create a regional powerhouse, but rising deposit costs have stung. CEO Clint Stein says he's "laser-focused" on making Columbia a top performer again.
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A set of panels discussing minority depository institutions and digitization found that cost is a significant challenge to minority depository institutions, especially in the core processing space.
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The Federal Reserve, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency issued a 30-page guidebook on managing affiliate risks. The report builds on formal guidance issued last year.
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In talks with OCC officials, "it became obvious that we would not gain near-term approval given their recent experience with multifamily and CRE positions," FirstSun CEO Neal Arnold says. The companies announced other revisions to their deal, too.
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