COMMUNITY BANKING: IN THE SIX YEARS since his plan to acquire a rival bank failed, William R. Wilcox Jr., president of Willimantic, Conn.-based Savings Institute, has been at the center of a bizarre tale in which former associates claimed he was bent on revenge. Last month, he resigned under a barrage of lawsuits. Page 8 WSFS FINANCIAL reported sharply higher earnings in the second quarter from some profitable balance sheet moves and an increase in its net interest margin. Profits totaled $3.2 million, a 98% increase from the year-earlier period. Page 9 MORTGAGES: OFFICIALLY, registration at the Western League of Savings Institutions' secondary market meeting was down only 5% from last year, to about 1,000. But several participants said the conference, which was held in the shadow of a shrinking mortgage market, seemed much smaller, and lacked energy. Page 10 CREDIT/DEBIT/ATMs: VERIFONE has joined the Object Definition Alliance, a multi-industry group organized by Oracle Corp. to create technical standards for electronic commerce. Page 14 SEVEN NORTHEASTERN states have allied to invite bids for an electronic benefits transfer system. Banks and transaction processors are expected to enter the bidding, trying to rack up the processing fees and use the experience as an entree to other government work. Page 15 TECHNOLOGY: AMERICAN BANKERS Association representatives are to meet today with government officials to urge that the Data Encryption Standard, a widely used bank standard for encrypting financial transactions, be certified for another 10 years. Page 16 FINANCE: THE EXCESS of an acquisition bid over market value is often called the "control premium" because it represents the value the buyer believes it can add by virtue of controlling the target. Arthur Loomis and Robert Jones offer what they call a better way to value potential acquisitions. Page 22

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