TIB Financial Corp. of Naples, Fla., said its fourth-quarter loss widened to $45.1 million from $13.2 million a year earlier.
The parent company of TIB Bank in Naples said Monday that as of Dec. 31 it had assets of $1.7 billion, up 6% from a year earlier. It had a net loss of $61.5 million for 2009, compared with a $21 million loss for 2008.
Its nonperforming loans of $72.8 million were 4.28% of its assets, up 10%. Its loan-loss provision grew by 8.6%, to $16.4 million.
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The top five banks and thrifts had combined assets of more than $13 trillion as of December 31, 2023.
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Many legal experts think the Supreme Court will rule in favor of the Consumer Financial Protection Bureau in a case challenging its funding. Such a ruling would unleash a flurry of litigation that has been on hold pending the outcome of the constitutional challenge.
Lawmakers including one of the original sponsors of the Corporate Transparency Act have filed an amicus brief in the appeal against an Alabama court ruling that the law is unconstitutional, which would throw into question Treasury's newly-established beneficial ownership structure.
The Connecticut bank —a regional traditionally regarded as a cautious lender — said nonperforming loans and leases rose 53% year-over-year. The uptick was in mostly the commercial-and-industrial loan space, although there was one nonperforming commercial real estate loan, executives said.
