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With mortgage rates down in the US , many homebuyers are looking locally to their communitybanks to finance their new, potentially life-changing purchase. In the spirit of the go local movement, new data from Sageworks Bank Information peeked in on 10 cities to see which communitybanks were making an impact on local mortgage lending.
The Connecticutbank expects to report a $9.5 million net loss for the fourth quarter, but it said it's made headway in its efforts to cultivate investors and bolster its capital levels.
." - Gregory Schreacke, President of First Financial Service Corporation in Elizabethtown, KY on his bank''s sale to CommunityBank Shares of Indiana, Inc. of Ocala, Florida on the bank''s sale to Heritage Financial Group, Inc. ." - Loralee Hutchinson, President of Alarion Financial Services, Inc. Our combination.
Senate Banking Committee. She explained why lawmakers should exempt communitybanks from Basel III capital rule. Community bankers score big changes in final credit-loss standard. Connecticut headquarters. Speaking Out—ICBA Chairman Rebeca Romero Rainey (far left) testified in June before the U.S.
The Stamford, Connecticut-based bank hired Steven Sugarman to be its president. The former bank CEO, who now heads one of the country's largest mission-based lenders, will help drive an effort to close a capital gap.
A New Accounting Twist—ICBA’s accounting expert James Kendrick tells communitybanks to closely watch for the Financial Accounting Standards Board’s pending new standards for recognizing credit losses, much earlier than currently required. Under the FASB plan, banks would instead take a hit the moment they make a loan.
The Connecticutbank disclosed that Nasdaq waived a shareholder approval requirement so it could urgently raise more than $50 million. Patriot also said its finance chief would step down.
Daniel Galindo, pictured, and Doug Schaeffer of Woodforest National Bank helped involve the communitybank in providing funding for and access to affordable housing. It’s being responsive to the needs and taking the tools we built—and those we’ll continue to build—to help underinvested communities lift up.”.
The Connecticutbank said its newly minted president, Steven Sugarman, successfully led a private placement and signed a long-term employment agreement that makes him a potential CEO. David Lowery, current chief executive of Patriot, plans to step down in April.
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