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By BLOOMBERG BUSINESS NEWS | August 24, 1996
WASHINGTON -- The Federal Reserve Board yesterday proposed changes it said would make it easier for banks to offer new products and acquire other financial institutions.The proposal would reduce the number of steps bank holding companies must take when they apply to the central bank to expand operations, whether through purchasing another institution or offering new services.The plan also would enable such institutions to broaden the scope of derivatives trading, the Fed said.The Fed's action is an effort to update its regulations to grant the bank holding companies it supervises the same powers enjoyed by banks outside its jurisdiction.
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BUSINESS
By Eileen Ambrose, The Baltimore Sun | November 9, 2012
First Mariner Bancorp announced Friday that it is dropping out of an agreement that called for Priam Capital Fund I, a New York investment firm, to invest $36.4 million in the Baltimore-based bank holding company. "Circumstances of the bank have changed considerably since we entered into the agreement over a year and a half ago, and the board of directors believed it was in the best interest of the company to withdraw from the agreement at this time," said CEO Mark A. Keidel in a statement.
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BUSINESS
By Lyle Denniston and Lyle Denniston,Washington Bureau of The Sun | March 5, 1991
WASHINGTON -- The Supreme Court agreed yesterday to consider the Federal Reserve Board's plea to revive its power to order bank holding companies to transfer some of their own money to troubled banks they own.A federal appeals court ruled last May that the Fed had no authority, under federal banking law, to adopt its so-called "source of strength" rule against bank holding companies it regulates.That rule, applied by the Fed since 1966 and codified since 1984, is designed to make sure that those companies' banking subsidiaries can turn to their parents in times of financial stress and get money to strengthen their capital reserves.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | August 26, 2011
First Mariner Bancorp says it has been notified by Nasdaq Stock Market that it still fails to meet the standards to remain listed on the exchange, according to documents filed with securities regulators on Friday. Nasdaq had given the Baltimore-based bank holding company an extension until Aug. 22 to raise its stock price to meet the $1 per share minimum for being listed. First Mariner said it appealed Nasdaq's finding during a hearing held Thursday, and the results are expected within 30 days.
BUSINESS
By Timothy J. Mullaney and Ross Hetrick | January 22, 1992
The state's second-largest bank holding company, First Maryland Bancorp, and one of the Maryland's largest thrifts, Loyola Capital Corp., today reported record profits for 1991. Loyola Capital, parent of Loyola Federal Savings and Loan, also announced more good news: the company's first quarterly dividend.Another bank holding company, Signet Banking Corp., yesterday announced it lost $51.7 million in the fourth quarter, bringing its annual loss to $25.7 million. Signet's earnings were hurt by a $165 million addition to loan loss reserves.
BUSINESS
By Peter H. Frank | September 29, 1990
Bank Maryland Corp., a Towson-based bank holding company, said yesterday that it had completed the consolidation of its six banking units and would open its doors Monday as a unified Bank of Maryland.The decision to merge the separate banking affiliates, announced at the shareholders meeting in May, was aimed at paring costs and smoothing the bank's operations by adopting a single structure under a single banner, the company said."Restructuring the holding company's affiliates into a single bank to operate under one name will promote increased efficiency in operations, marketing and will enable the organization to make more effective use of its capital," said E. Neil Jacobs, president and chief executive.
BUSINESS
October 1, 1990
MNC Financial Inc. has formally locked into place a previously announced, $750 million line of credit that the Baltimore-based company is expected to use to meet short-term funding requirements.The 18-month line of credit, part of an infusion of capital designed to help the troubled bank holding company's equity position, is being funded by a syndicate of nine banks led by Morgan Guaranty Trust Co., of New York.MNC spokesman Daniel Finney described the new credit as a "back up" for the company's commercial paper.
BUSINESS
By Ross Hetrick and George Marudas and Ross Hetrick and George Marudas,Evening Sun Staff | October 18, 1991
Still working its way out of bad commercial real estate loans, MNC Financial Inc., the state's largest bank holding company, reported a loss for the third quarter while Signet Banking Corp. and Provident Bankshares Corp. reported profits.MNC Financial Inc., the parent company of Maryland National Bank and American Security Bank in Washington, yesterday reported it lost $59 million in the third quarter ended Sept. 30. But it made a profit for the first nine months, thanks to the sale of its credit-card subsidiary.
NEWS
September 2, 1993
Taneytown Bank donates to Red CrossEmployees at Taneytown Bank and Trust Co. had a fund-raising "Casual Day" at work Aug. 20. Each employee contributed to the Red Cross Flood Relief Fund and came to work dressed in casual wear.The total collected from employees exceeded $700. President and Chief Executive Officer Carroll D. Myers matched the contributions on behalf of the bank for a total of $1,414.The Red Cross in Westminster accepted the contribution on behalf of Marge Libertini, a volunteer counselor on duty in the Midwest.
NEWS
By MARGIE MULLER | June 26, 1991
Of all the elements comprising the president's banking reform package, interstate branching is the sleeper that looks like a shoo-in during this session of Congress.Who could oppose a streamlining of regulatory authority at a time when bank losses threaten to spill onto the shoulders of the taxpayer? How can anyone mount objections to the removal of artificial barriers to the interstate flow of financial transactions when funds can circle the globe in seconds?Bank holding companies already own banks across state lines; why not let them convert those separate subsidiaries to branches of the headquarters bank?
BUSINESS
By New York Times News Service | January 24, 2008
NEW YORK -- Even as stocks ended five days of losses with a surprising recovery yesterday, officials began moving to defuse another potential time bomb in the markets: the weakened condition of two large insurance companies that have guaranteed buyers against losses on more than $1 trillion of bonds. Regulators fear that, in a worst-case scenario, the troubled bond insurers, MBIA Inc. and Ambac Financial Group Inc., might be unable keep their promise to pay investors if borrowers default on their debt.
FEATURES
By Edward Gunts and Edward Gunts,SUN ARCHITECTURE CRITIC | December 6, 2004
Will the Old Goucher Historic District become Baltimore's next hot neighborhood? The answer could depend on what happens to one of the district's most prominent buildings when it goes up for auction next week. The former headquarters of the Federal Land Bank of Baltimore, built starting in 1926 at 2315 St. Paul St., will be offered for sale at 2 p.m. Dec. 14. Now largely vacant, the six-story structure is one of the largest office buildings in the historic district where Goucher College operated before moving to Baltimore County in the 1940s.
NEWS
By Peter Hermann and Peter Hermann,SUN STAFF | March 7, 2001
A group of masked thieves has embarked on a wave of brazen thefts from Baltimore convenience stores by hauling away automated teller machines that can hold tens of thousands of dollars. In many cases, city police say, they crash stolen cars into storefront windows and knock the floor-bolted machines free. Other times, they simply walk in and rip off the ATMs using brute force. Four attacks since Sunday have brought to 16 the number of ATM thefts in the past three months. Police believe the same group of five men has been involved in all the thefts.
SPORTS
By Mike Preston and Mike Preston,SUN STAFF | November 12, 1999
The second half of the Ravens' 1999 season and their future revolve around starting quarterback Tony Banks.If Banks succeeds and limits the turnovers, then the Ravens have a decent shot at winning six of their remaining eight games.If Banks succeeds, then the Ravens don't have to search through free agency to find another possible starting quarterback.If Banks succeeds, then the Ravens have other pressing holes they can fill in the first round of the draft, where they have two picks.If, if, if"In this league, regardless of your quarterback situation, if there is a quarterback you value, and he's available, you got to think about him," Ravens coach Brian Billick said.
BUSINESS
By BLOOMBERG BUSINESS NEWS | December 31, 1996
WASHINGTON -- The Office of the Comptroller of the Currency issued a final rule yesterday clarifying how national banks may manage assets held in trust funds.The revised rules will give banks more flexibility in deciding how to invest trust-fund money and will ease restrictions on who may act as a broker for the bank, and how bank holding company affiliates may assist in managing trust funds.The OCC said the regulation, known as Part 9, had not been revised in 30 years."The revisions are designed to recognize the substantial changes and diversity in how banks conduct fiduciary activities today, and to bring the OCC's standards more in line with modern fiduciary law and practice," said Julie Williams, chief counsel at the agency.
BUSINESS
By BLOOMBERG BUSINESS NEWS | August 24, 1996
WASHINGTON -- The Federal Reserve Board yesterday proposed changes it said would make it easier for banks to offer new products and acquire other financial institutions.The proposal would reduce the number of steps bank holding companies must take when they apply to the central bank to expand operations, whether through purchasing another institution or offering new services.The plan also would enable such institutions to broaden the scope of derivatives trading, the Fed said.The Fed's action is an effort to update its regulations to grant the bank holding companies it supervises the same powers enjoyed by banks outside its jurisdiction.
BUSINESS
By Ross Hetrick and Ross Hetrick,Evening Sun Staff | October 18, 1990
In contrast to the financial woes of other banks, Baltimore Bancorp, the parent company of the Bank of Baltimore, eked out slightly improved earnings in the third quarter.The bank holding company had third quarter net income of $5.02 million, just $2,000 more than earnings for the third quarter in 1989. The earnings per share was 39 cents for both quarters.However, this quarter's results got a special boost from an extraordinary credit of $1.1 million, which the bank received after repurchasing some long-term bonds, which it bought at a discount on the original amount.
NEWS
October 6, 1994
Elkridge National Bank, which has assets of about $80 million, has signed an agreement to be purchased by FCNB Corp., a bank holding company based in Frederick.The merger deal, which the companies say is worth more than $10 million, must be approved by state and federal regulators.Elkridge National Bank officers said the bank's 6,500 customers would see little change in banking services as a result of theagreement. Elkridge National Bank operates banks in Columbia, Glen Burnie and Elkridge, its headquarters.
BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,Sun Staff Writer | June 6, 1995
American National Bankshares MHC said yesterday that it plans to convert from a mutual savings bank holding company to a stockholder-owned corporation, a move it says will beef up capital and position the Baltimore S&L to capitalize on coming bank industry restructuring."
BUSINESS
April 13, 1995
H&R Block CEO resignsH&R Block Inc. President and Chief Executive Thomas Bloch announced his resignation yesterday, saying he wants to spend more time with his family.After 19 years with the tax preparation company his father and uncle founded, Mr. Bloch, 41, said he is considering opportunities outside business.Mr. Bloch has served as chief executive since 1992, when he replaced his father, Henry Bloch.F&M Bancorp. earnings up 4.3%F&M Bancorp., parent company of Farmers and Mechanics National Bank of Frederick, reported its net income in the first quarter increased 4.3 percent, to $1.9 million, or 48 cents a share, from $1.8 billion, or 46 cents a share, in the previous first quarter.
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