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A group of investment firms has forced American Bancorp. into liquidation over unpaid trust-preferred debt. Creditors have threatened to go this route before but this is the first time any have followed through, serving as an ominous precedent for the up to 300 banks in danger of defaulting on the hybrid securities.
June 2 -
Mercantile Bank (MBWM) in Grand Rapids, Mich., has finally completed its acquisition of Firstbank (FBMI) in Alma, Mich.
June 2 -
Deposits and assets have fallen, and some customers and employees have fled, while Hudson City in Paramus, N.J., has been stuck in an M&A limbo. But the situation might save buyer M&T Bank some headaches later if it can just close the deal.
June 2
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More than 40% of the 2 million recently modified mortgages facing interest-rate resets are underwater, according to Black Knight Financial Services data.
June 2 -
Innovative branch design and technology won't win the day alone. Finding the right manager and staff is still the key factor in creating a thriving branch.
June 2
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Astoria Federal Savings (AF) in Lake Success, N.Y., has changed its name to Astoria Bank.
June 2 -
Los Alamos National Bank in New Mexico named community banking veteran John S. Gulas as its next chief executive officer.
June 2 -
A payday lending operation affiliated with a Native American tribe is liable for engaging in deceptive practices and violating federal law by failing to disclose loan terms, U.S. District Judge Gloria Navarro in Las Vegas has ruled.
June 2 -
A new law in Connecticut is designed to reduce unsolicited commercial phone intrusions by banning text messages.
June 2 -
Banks that drive customers away with pre-recession practices should clean up their act or get ready for competitors to use their missteps against them.
June 2
