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NEWS
May 1, 2013
I am not a fan of former President George W. Bush, but I must comment on the hatchet job that was The Sun's editorial about the opening of the Bush library in Dallas ("Misoverestimating Bush," April 28). During the last two years of Mr. Bush's presidency both the Senate and House had Democratic majorities, and the policies enacted by that Congress led to the worst economic downturn since the Great Depression. The policy of forcing banks to give loans to people who could not afford them was pushed by Democratic Rep. Barney Frank and Sen. Chris Dodd.
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NEWS
May 3, 2013
I must take issue with letter writer Stanley Glinka's assertion that it was "the policy of forcing banks to give loans to people who could not afford them" that led to our current financial mess ("Stop blaming Bush," May 1). First of all, we need to remember that the bad loans that crashed the economy were in the trillions of dollars, and low-income Americans obviously did not receive trillions of dollars in loans in the years up to the crash. There is legislation called the Community Reinvestment Act (CRA)
BUSINESS
By Peter H. Frank | January 24, 1991
Bank Maryland Corp., the newly created parent of Bank of Maryland, returned to profitability during the fourth quarter last year, reporting slight income as the company rebounded at the end of an otherwise difficult year.The Towson-based company, with 13 branches in the state, said it earned $8,806, or less than 1 cent a share, in contrast to a loss of $1.4 million, or 74 cents a share, during the same period the year before.For all of 1990, Bank Maryland lost nearly $11 million, or $5.40 a share, compared with a loss of $1.3 million, or 70 cents a share, in 1989.
BUSINESS
By Peter H. Frank | March 16, 1991
Second National Federal Savings Bank, a struggling thrift based in Annapolis and Salisbury, said yesterday that it lost $5.5 million, or 80 cents a share, during last year's fourth quarter after making a large provision to its reserves for souring loans.The company, which has seen its portfolio of loans badly deteriorate in the past year, said that it added $10.5 million during the last three months of 1990 to its pool of funds used to cover the costs of bad loans. That compared with a similar addition of $555,000 for the same period a year earlier, when the S&L earned $2.4 million, or 32 cents a share.
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | January 19, 1996
Crestar Financial Corp., which last month captured a chunk of Baltimore's banking market with the acquisition of Loyola Capital Corp., said yesterday that it earned a record $209.1 million for the year.Full-year earnings were up 14 percent from 1994 excluding nonrecurring merger charges associated with the Loyola acquisition, the company said.Crestar earned $55.6 million, or $1.28 a share, excluding the one-time charge of $29.3 million in the fourth quarter.Richard G. Tilghman, Crestar's chairman and chief executive, said the year was a success because the company completed five acquisitions and increased profits.
BUSINESS
By BLOOMBERG NEWS | April 11, 2003
ATLANTA - SunTrust Banks Inc., the first of the 10 biggest U.S. banks to report first-quarter results, said yesterday that its net income climbed 8 percent as it cut bad loans and curbed expenses. The company's shares recorded their biggest advance in almost three years as net income rose to $327.8 million, or $1.17 a share, from $304.9 million, or $1.06 a share, a year earlier, the company said. Revenue slid about 1 percent. SunTrust's earnings gain helped send bank stocks higher because they signaled loan defaults are ebbing, investors said.
NEWS
By Knight Ridder News Service | March 5, 1993
WASHINGTON -- Ask investigators to name the best government computer systems and long silences are likely to follow. Ask for horror stories and the response is rapid.What follows are some of the worst cases cited by computer experts at the General Accounting Office, the House Government Operations Committee and agency inspectors general:* The Veterans Benefit Administration, concerned about taking an average of 151 days to decide whether a veteran was disabled, spent $94 million on a computer system to speed up claims.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | October 23, 2012
The Federal Reserve announced Tuesday that Patapsco Bancorp of Dundalk has agreed to take steps to maintain the soundness of the company and its Patapsco Bank subsidiary The company and the bank must submit plans showing how they will sustain sufficient capital, improve the bank's earnings, strengthen board oversight of management and operations, and reduce problem assets and exposure to commercial real estate. The company also can't declare dividends or borrow any money without regulators' approval.
BUSINESS
By New York Times News Service | February 21, 1995
Remember the credit crunch, when executives and entrepreneurs around the country squawked that banks had raised standards so high that no one could get a loan?Well, the only crunch today is the sound of bankers slamming into each other as they race to shower loans on business and consumers.But now that banks are lending again with gusto, helping to fuel the rebound in the economy, banking officials warn that the industry is getting caught up in another frenzy likely to end badly. The fear is that banks are taking too many risks and losing sight of some cautious practices instituted after the collapse of the commercial real estate market in the late 1980s.
BUSINESS
By Peter H. Frank | December 22, 1990
The parent of Loyola Federal Savings and Loan Association, joining a growing chorus of financial institutions worried by the region's slowing economy, said yesterday it would report sharply lower earnings for the fourth quarter after pumping about $6.4 million into its reserves to guard against the possibility of mounting bad loans.Baltimore-based Loyola Capital Corp., the state's second-largest thrift, said the move was not in response to any evidence of weakness in its current portfolio.
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