SOUTHFIELD, MICH. - Franklin Bank declared its third straight quarterly dividend - 5 cents per share.
The $388 million-asset bank in the Detroit suburbs said it is turning away from reliance on home mortgages because of competition from nonbanks.
The bank recently opened an upscale office in Southfield proding "concierge" services such as travel arrangements for executives from the city's many office buildings.
Franklin said it believes the upscale office is among the first of its kind in the country.
FISHKILL, N.Y. - First Inter-Bancorp earned 22 cents per share in the third quarter, down from 31 cents a year earlier.
The parent of Mid-Hudson Savings Bank attributed the drop to a $1.2 million rise in its provision for losses on real estate investments and a $284,000 increase in the net loss from other real estate owned operations.
The $522 million-asset bank, which serves an area hit hard by layoffs at International Business Machines Corp., said the third-quarter dividend is its 25th consecutive one.