Word: bankamerica
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...reschedulings of commercial bank loans have multiplied, raising fears of a kind of domino effect of international banking collapses. That grim prospect came uncomfortably close to actuality last month when Mexico declared it could not make its payments. Such action would have left such blue-chip U.S. lenders as BankAmerica, Chase Manhattan and Citicorp holding bad loans of more than $10 billion...
Last week Citicorp's pursuit of consumer cash paid its biggest dividend so far. After a four-month campaign that in directly pitted it against the only larger U.S. financial institution, San Francisco's BankAmerica Corp. (assets: $121.5 bil lion), the Federal Home Loan Bank Board approved Citicorp's bid to buy the troubled Fidelity Savings & Loan Association of San Francisco. If upheld by the Federal Reserve Board, as expected, the takeover would mark the first time feder al regulators have allowed a bank holding company to cross both state and industry lines to buy a thrift...
Under pressure from California S and Ls and California Senator Alan Cranston, the Federal Home Loan Bank Board an nounced a second round of bidding on June 17. Despite BankAmerica's offer to back financially a California-only merg er, the board announced that the highest bid of the three California S and Ls that participated was still $143 million lower than Citicorp's offer...
...institution that took notice: nearby Bank America Corp., parent company of the nation's largest bank, which was eager to move in fresh directions under its new president, Samuel H. Armacost. BankAmerica approached Schwab about a takeover last September, in a move to become the first U.S. bank to acquire a broker. After weeks of agonizing, Schwab decided to sell. The price: $53 million in BankAmerica stock. If the deal is approved by regulators, Schwab will stay on as boss of the new bank subsidiary...
...stop for services ranging from savings accounts and stocks to insurance. This year several of the largest U.S. companies went further in that direction by moving to acquire investment firms. American Express snared Shearson Loeb Rhoades; Prudential Insurance purchased Bache; Sears reached a preliminary agreement to buy Dean Witter; BankAmerica plans to absorb Charles Schwab...