Daily Briefing


December 12, 2009

More than 10,000 seek extra jobless benefits

More than 10,000 Marylanders have applied online for newly available federal unemployment benefits that extend by 14 weeks the time out-of-work residents can collect, the state said Friday. The Maryland Department of Labor, Licensing and Regulation needed time to reconfigure its system to allow people to get the additional payments - which were approved by Congress last month - but said eligible residents can get payments for the weeks beginning Nov. 8 retroactively. It said the state is one of the first to allow people to apply for the money. The agency recommends applying online at mdunemployment.com.

- Jamie Smith Hopkins

'Copy Cat' building to be auctioned Tuesday

A Charles Village landmark, the "Copy Cat" building at 2443 N. Charles St., will go on the auction block at 11 a.m. Tuesday. Attorney Jeffrey Pritzker said the auction, which will be held on the premises, is a voluntary sale on behalf of the owner. Alex Cooper Auctioneers is handling the sale. The building, dating from the 1890s and marked by a corner turret, contains two street-level retail spaces and four upper-level apartments. It originally housed an offshoot of the old Thomas and Thompson pharmacy, once located at Baltimore and Light streets. Until about a year ago, it contained offices of the Copy Cat printing company. It received a preservation award in 2004 from Baltimore Heritage for the restoration of its exterior.

- Baltimore Sun staff reports

Regulators shut Florida bank, 131st of year

WASHINGTON - Regulators on Friday shut down Republic Federal Bank in Florida, the 131st to succumb so far this year as U.S. banks big and small have been undermined by sour loan portfolios and the battered economy. The Federal Deposit Insurance Corp. took over Miami-based Republic Federal, with $433 million in assets and $352.7 million in deposits. A bank based in Boca Raton, Fla., 1st United Bank, agreed to assume all the deposits and $267.1 million of the assets of the failed bank. The FDIC will retain the rest for eventual sale. In addition, the FDIC and 1st United Bank agreed to share losses on $210.4 million of Republic Federal's loans and other assets. The FDIC estimates the failure of Republic Federal will cost the deposit insurance fund $122.6 million. Maryland has had two bank failures this year.

- Associated Press

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