Word: bankes
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...Banks still have time to be approved for the TARP program. Applications for the program are officially not due until Nov. 14. And the Treasury Department has confirmed only a few of its investments. Moreover, taking government funds will force the firms to restrict executive compensation as well as make it tougher for them to increase their stock dividend. So some banks may pass. On Wednesday, officials of the Bank of Oklahoma said they would not tap the TARP program, adding that the bank was well capitalized...
...There are a handful of midsize banks that a lot of investors feel like we should have heard from by now about TARP," says Kevin Fitzsimmons, a bank analyst at investment firm Sandler O'Neill. "But we haven't, and there is a growing sense of unease about...
...loans in the past few years to residential builders, particularly in Florida, many of which have now gone bad. As of the end of September, Colonial had $678 million in so-called nonperforming loans, which means the borrower is no longer paying interest. Fitch Ratings recently downgraded the bank to a credit rating of BBB-, which puts Colonial's debt just above junk. "From an overall capital perspective, they are all right, but Colonial is exposed to residential construction in problematic markets," says Fitch analyst Ken Ritz. "The risk profile of the company's loans is problematic." Synovus, which executives...
...Bank and New York Community Bank have both made money in the past year and are probably examples of financial firms that may not need assistance from the government. Still, observers say the consensus among bank executives is that the TARP program is a good deal. So any firm that decides to opt out may raise concerns among investors and customers...
...Rodgin Cohen, a top banking lawyer at Sullivan & Cromwell, says being approved for TARP funds is do or die for any bank perceived to have problems. "The consequences are unmistakable, and I don't think we should blink at them," Cohen told the attendees of a banking-industry conference earlier this month. "It is failure within maybe a day, maybe a couple of days. It's hard for me to see how a bank survives if the regulators have said it is not sufficiently viable to be in these [federal assistance] programs...