Word: bancorp
(lookup in dictionary)
(lookup stats)
Dates: during 2000-2009
Sort By: most recent first
(reverse)
...Then there is Fifth Third Bancorp. The Cincinnati-based financial firm is one of a number of banks that have had to spend the past month pulling off some fancy financial gymnastics to meet their capital requirements. The stress test found that Fifth Third was $1.1 billion short of the common equity it needed to be considered well funded. Earlier this week, the bank announced that it had raised $1 billion by selling new stock. But that left the bank $100 million short of its goal. So the bank couldn't stop there. Instead, it offered $365 million...
Already, Citigroup has named four new directors to its board this year, and each has financial experience. Two, Jerry Grundhofer and Michael O'Neill, are former chief executives of other banks, U.S. Bancorp and Bank of Hawaii, respectively. And a number of Citi's shareholders are pushing for the bank to make further changes to its board...
...Bank of America and Citigroup are not alone in needing to make changes. At Wells Fargo, only four of that bank's 17 independent board members have a background in the financial-services industry. And even among that group, only two have been executives at a bank. Fifth Third Bancorp, which was deemed to need an additional $1.1 billion in capital in the government's recent stress test, has no independent directors on its board with prior experience working at a bank. Two of its board members do have financial-services experience, but with insurance companies. At JPMorgan Chase, none...
...more fundamental questions about, whether they will be broken up or will fail. Everything is rallying at the moment, but we would much rather be in the former group, the long-term plays in leadership banks. I'm talking about such companies as Goldman Sachs, JPMorgan Chase, Visa, US Bancorp and Wells Fargo...
That was also true when Grameen first came to the U.S., in the late 1980s, and tripped up. Under Grameen's tutelage, Southern Bancorp started making microloans to entrepreneurs in Arkansas. At first, the loss rate was a shocking 30%. Even after getting that under control, Southern found that what people really needed wasn't seed capital but broader help developing work skills and finding jobs...