Federal Deposit Insurance Corporation

Type: Organization
Name: Federal Deposit Insurance Corporation
First reported Apr 23 2014 - Updated 9 hours ago - 2 reports

Opus Bank Prices Initial Public Offering

By a News Reporter-Staff News Editor at Investment Weekly News -- Opus Bank (Nasdaq: OPB) announced that it has priced its initial public offering of 5,125,864 shares of common stock at a price to the public of $30.00 per share. In the offering, Opus ... [Published HispanicBusiness.com - 9 hours ago]
First reported 16 hours ago - Updated 16 hours ago - 2 reports

Sun Bancorp, Inc. to Webcast First Quarter Earnings Conference Call on Thursday, April 24 at 11:00 AM

SOURCE Sun Bancorp, Inc.MOUNT LAUREL, N.J., April 23, 2014 /PRNewswire/ -- Sun Bancorp, Inc. (Nasdaq: SNBC) will announce its fourth quarter earnings after the market close on Wednesday, April 23, 2014. The Company will hold a conference call on Thursday, ... [Published 3 WRCB-TV - 16 hours ago]
First reported 17 hours ago - Updated 17 hours ago - 1 reports

Former directors, CEO of failed Palm Beach County bank settle with FDIC

The former CEO and four former directors of the failed Integrity Bank settled for $1.8 million on allegations raised by regulators that they mismanaged the bank.Jupiter-based Integrity Bank had $105 million in assets when it failed in July 2009 and had ... [Published Los Angeles Business - 17 hours ago]
First reported Apr 22 2014 - Updated 22 hours ago - 6 reports

The Average Bank Regulator Is Makes More Money Than The Average Banker

American Enterprise Institute (AEI) scholar Paul Kupiec has published a research report comparing the average salaries of regulators and bankers. Politico's Ben White points to it in today's Morning Money .  Kupiec's research found that the average ... [Published Clusterstock - 22 hours ago]
First reported Apr 22 2014 - Updated Apr 23 2014 - 2 reports

1st United Bancorp Reports First Quarter Earnings

1st United Bancorp, Inc. reported net income of $2.7 million ($0.08 per share) for the three months ended March 31, which is a 66 percent increase compared to net income of $1.6 million ($0.05 per share) for the three months ended March 31, 2013. In a ... [Published Individual.com - Apr 23 2014]
First reported Apr 23 2014 - Updated Apr 23 2014 - 1 reports

Testimony begins in bankers' federal trial

PANAMA CITY — Much of Tuesday afternoon in the trial of three leaders of a failed local bank was spent on testimony about the 2008 rollout of the Federal Deposit Insurance Corporation’s Temporary Liquidity Guarantee Program (FDIC TLGP).And that was the ... [Published Panama City News Herald - Apr 23 2014]
First reported Apr 22 2014 - Updated Apr 22 2014 - 3 reports

Former FDIC chair offers money tips to millennials

CNBC's Sharon Epperson talks with Pew Charitable Trust senior advisor and former FDIC Chairman Sheila Bair about how millennials can protect their financial ... ... [Published Big News Network - Apr 22 2014]
First reported Apr 22 2014 - Updated Apr 22 2014 - 2 reports

FDIC Loses Appeal Over IndyMac Tax Refunds

Three appeals court judges in California sided with lower court decisions that $55 million in tax-related benefits should stay with the bankruptcy estate of IndyMac's parent company. ... [Published American Banker - Apr 22 2014]
First reported Apr 22 2014 - Updated Apr 22 2014 - 2 reports

FDIC Advisory Committee on Economic Inclusion Set to Meet and Discuss Expanding Banking Access to Consumers

Press Release April 22, 2014Media Contact: David Barr (202) 898-6992, dbarr@fdic.gov , The Federal Deposit Insurance Corporation (FDIC) Advisory Committee on Economic Inclusion (ComE-IN) will meet on Thursday, April 24, 2014 , to discuss Safe Accounts, ... [Published HispanicBusiness.com - Apr 22 2014]
First reported Apr 22 2014 - Updated Apr 22 2014 - 1 reports

ABC : Regulations Transferred From Office of Thrift Savings and Rules of Practice and Procedure

SUMMARY: The Federal Deposit Insurance Corporation (" FDIC ") proposes to rescind and remove regulations transferred from the Office of Thrift Savings ("OTS"), and amend its rules of practice and procedure in ways that will ensure that all insured depository ... [Published 4 Traders - Apr 22 2014]
First reported Apr 22 2014 - Updated Apr 22 2014 - 2 reports

Citigroup seeks to sell 50 branches in California

Pedestrians walk in front of a Citigroup Inc. bank branch in San Francisco, California. (Bloomberg) Citigroup Inc. is seeking buyers for about 50 branches holding $3 billion of deposits in California as the third-largest U.S. lender pares brick-and-mortar ... [Published Korea Herald - Apr 22 2014]
First reported Apr 22 2014 - Updated Apr 22 2014 - 1 reports

Insured v. insured exclusion bars coverage for claim by FDIC as receiver

An exclusion from a failed bank’s D&O liability policy for any claim brought by the insured bank—or any receiver of the bank—barred coverage for a claim by the Federal Deposit Insurance Corporation (FDIC), as receiver of the bank, according to a summary ... [Published Lexology - Apr 22 2014]

Quotes

...The allowance for loan losses amounted to $10.6 million and $10.3 million at March 31, 2014 and December 31, 2013, respectively. "We continue to see strong growth in demand and momentum in generating new prospects into our pipelines consistent with prior periods. The success that we have achieved continued to aid in growing the portfolio in 2014, as cited by our committed loan volume. During the first quarter we had a number of loans that delayed closing until late in the quarter and in certain cases into the second quarter of 2014. This, coupled with the prepayment volume, dampened the overall average growth; however, we expect the volume to continue to fuel overall net growth in future periods, "commented Mr. Weagley. At March 31, 2014, the Corporation had $184.5 million in overall undisbursed loan commitments, which consisted primarily of unused commercial lines of credit, home equity lines of credit and available usage from active construction facilities. Included in the overall undisbursed commitments are the Corporation's "Approved, Accepted but Unfunded" pipeline, which includes approximately $29.8 million in commercial and commercial real estate loans and $3.4 million in residential mortgages expected to fund over the next 90 days."
...ability to produce solid profitability while concurrently investing in future growth opportunities," said James C Cherry, Chief Executive Officer. "For the three months ended March 31, 2014, we reported net income available to common shareholders of $3.6 million, or $0.08 per share. While down modestly from the $4.0 million, or $0.09 per share, reported last quarter, current period results include an $842,000 increase in personnel expense related to hiring additional bankers, product specialists and related support that we expect to help drive future growth and increased profitability. Hiring activity included the earlier announced de novo entry into Richmond and new leadership for wealth management, mortgage banking and marketing, as well as added wealth specialists in Richmond and Charlotte, commercial bankers in Charleston, Greenville and Charlotte, a treasury services specialist in Greenville, and product specialists in Retail Banking. We expect to continue adding exceptional talent when available, as evidenced earlier this week by our hiring of Janet Sarn as Market Executive for Gaston County."
...Total noninterest expenses returned to normalized levels with total expenses representing just 2.77% of average assets," said Benoist. "We are continuing to focus on opportunities to manage the expense side of our business and drive greater efficiencies." Net interest income in the first quarter decreased $2.0 million from the linked fourth quarter and $6...
...strong capital and credit quality, in light of a softer mortgage origination market," said Ray Davis, president and CEO of Umpqua Holdings Corp. "We are pleased to close the Sterling Financial Corp. merger. Our integration program is on target, and we look forward to being recognized as the West Coast's largest community bank."

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All (2535) | News (2126) | Reports (1) | Blogs (310) | Audio/Video (3) | Fact Sheets (3) | Press Releases (88)
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Blogs

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Bill Isaac: A B-52 Cluster Snark Bomber [Published Bank Lawyer's Blog - 8 hours ago]
While my blog was knocked off the air for several days due to the massive DDoS attack on Typepad (my blog hosting service), former FDIC Chairman stepped up to the plate and held high the mighty fist of snark, which he shook at one of our favorite subjects ...
The Average Bank Regulator Is Makes More Money ... [Published Clusterstock - 22 hours ago]
American Enterprise Institute (AEI) scholar Paul Kupiec has published a research report comparing the average salaries of regulators and bankers. Politico's Ben White points to it in today's Morning Money .  Kupiec's research found that the average ...
Grand Central: Housing Recovery, We Hardly Knew... [Published WSJ.com: Real Time Economics - Apr 23 2014]
The Wall Street Journal’s Daily Report on Global Central Banks for Wednesday, April 23, 2014 Sign up for the newsletter:  http://on.wsj.com/grandcentralsignup . Highlights Hilsenrath’s Take: Housing Recovery, We Hardly Knew You Fed Looks Likely to ...
Regulators Make More Money than Bankers [Published Washington Free Beacon - Apr 22 2014]
While bankers’ salaries has long been decried by the public, but it is really the financial regulators who are making the big bucks, according to an opinion piece in the Wall Street Journal . Paul Kupiec found that the average bank employee made ...
Big, Not Strong [Published TAPPED - Apr 22 2014]
From Andrew Mellon’s nearly 11 years as Treasury secretary under Presidents Warren G. Harding, Calvin Coolidge, and Herbert Hoover to our time, when Timothy Geithner went from financial regulator at the New York Federal Reserve to Treasury secretary ...
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Audio/Video

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Breakingviews: Jamie Dimon strikes back [Published Reuters Video: Top News - Dec 18 2013]
Breakingviews: Jamie Dimon strikes back [Published Reuters Video: Business - Dec 18 2013]
Number of banks at Depression low- report [Published Reuters Video: Business - Dec 03 2013]
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Press Releases

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Mohave State Bank is Released From Its Consent ... [Published GlobeNewswire: Advertising News - 12 hours ago]
Great Southern Bancorp, Inc. Reports Preliminar... [Published Financial Services - Apr 22 2014]
Provident Financial Services, Inc. and Team Cap... [Published GlobeNewswire: Acquisitions News - Apr 21 2014]
Merrill Lynch Wins Money Management Institute’s... [Published Bank of America Press Release - Apr 17 2014]
Bank of America Reports First-quarter 2014 Net ... [Published Bank of America Press Release - Apr 16 2014]
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