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By Eileen Ambrose, The Baltimore Sun | May 24, 2013
Talbot Bank of Easton, Maryland said Friday it has entered into a consent order with federal and state regulators. That order from the Federal Deposit Insurance Corp. and the Commissioner of Financial Regulation of Maryland requires the bank to improve its credit quality and revise some of its policies and procedures, the bank said. "No bank has been immune from the challenges created by the economic downturn," CEO Patrick M. Bilbrough said in a statement. "As we deal with those challenges, we are working closely with the FDIC and the commissioner to make sure that we handle these challenges in the correct way in a timely manner.
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BUSINESS
By Eileen Ambrose, The Baltimore Sun | May 24, 2013
Talbot Bank of Easton, Maryland said Friday it has entered into a consent order with federal and state regulators. That order from the Federal Deposit Insurance Corp. and the Commissioner of Financial Regulation of Maryland requires the bank to improve its credit quality and revise some of its policies and procedures, the bank said. "No bank has been immune from the challenges created by the economic downturn," CEO Patrick M. Bilbrough said in a statement. "As we deal with those challenges, we are working closely with the FDIC and the commissioner to make sure that we handle these challenges in the correct way in a timely manner.
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BUSINESS
By Dan Thanh Dang and Dan Thanh Dang,SUN STAFF | October 18, 2002
Despite a weakened economy, low interest rates and a sagging stock market, Mercantile Bankshares Corp. has posted a 6.2 percent increase in earnings, a solid gain that resulted from strong credit quality and fewer bad-loan write-offs. The state's largest independently owned banking company said yesterday that it earned $48.6 million, or 69 cents per diluted share, in the quarter that ended Sept. 30, compared with $46 million, or 65 cents per diluted share, in last year's quarter. Analysts applauded the company's meeting Wall Street expectations and posting gains despite an unfavorable banking environment.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | July 26, 2012
For the second quarter in a row, First Mariner Bancorp reported a profit, thanks to low interest rates, which have triggered a burst of mortgage lending. The Baltimore-based parent of 1st Mariner Bank announced Thursday that it earned $5.7 million in the second quarter ended in June, compared with an $11 million loss a year ago. That builds on a $1.8 million profit posted in the first quarter. Before this year, the last time the company saw a profit was in early 2007. "Our improved operating results for the second quarter were driven by a robust mortgage banking environment, improved credit quality, and continued reductions in operating expenses," said CEO Mark A. Keidel.
BUSINESS
By Andrew Leckey and Andrew Leckey,Tribune Media Services | July 7, 1992
It's the only game in town. With more than $10 billion in `D municipal bonds being called for early redemption starting this month, bondholders face disappointing current tax-free yields of about half the level of 10 years ago.So what will many of them be investing in next? More municipal bonds, of course. Even with those seemingly paltry 6 percent yields."Don't stay out of the municipal market the next two years and put money in cash instruments in anticipation of yields rising from record lows, for even low inflation will eat away at your dollar," warned Christine Carter Lynch, managing editor of the monthly Lynch Municipal Bond Advisory in Santa Fe, N.M.Despite lower yields, the municipal bond remains, "the only game in town" in legal tax-free shelters, she said.
BUSINESS
By BLOOMBERG NEWS | April 11, 1997
CHARLOTTE, N.C. -- First Union Corp. said yesterday that its first-quarter earnings rose 12 percent, fueled by the bank's capital markets and asset management businesses.The bank said net income rose to $471 million, or $1.67 a share, from $420 million, or $1.50, before a charge in the year-ago period. Per-share earnings reflect payment of preferred dividends.First Union also had $50 million in income from the sale of adjustable-rate mortgages during the quarter, a spokesman said."Overall, a solid quarter; everything was in line with expectations," said Michael Ancell, a bank analyst at Edward Jones.
BUSINESS
By William Patalon III and William Patalon III,SUN STAFF | April 24, 2003
Mercantile Bankshares Corp. said yesterday that first-quarter earnings rose more than 6 percent as the Baltimore-based bank was able to boost deposits and loans despite a difficult economy. Mercantile said it had net income of $48.99 million in its fiscal first quarter, which ended March 31, a 6.1 percent increase over net income of $46.18 million earned during the first three months of 2002. Earnings per share were 71 cents on a fully diluted basis, a jump of 7.6 percent from the 66 cents earned a year earlier, and a penny ahead of the consensus estimate of 70 cents, according to a survey of 10 analysts conducted by Zacks Investment Research.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | July 26, 2012
For the second quarter in a row, First Mariner Bancorp reported a profit, thanks to low interest rates, which have triggered a burst of mortgage lending. The Baltimore-based parent of 1st Mariner Bank announced Thursday that it earned $5.7 million in the second quarter ended in June, compared with an $11 million loss a year ago. That builds on a $1.8 million profit posted in the first quarter. Before this year, the last time the company saw a profit was in early 2007. "Our improved operating results for the second quarter were driven by a robust mortgage banking environment, improved credit quality, and continued reductions in operating expenses," said CEO Mark A. Keidel.
BUSINESS
By Ross Hetrick and Ross Hetrick,Evening Sun Staff | April 19, 1991
Helped by the sale of its Delaware credit-card operation, MNC Financial Inc., the parent of Maryland National Bank, reported first quarter net income of $154 million, or $1.75 a share.In 1990, MNC reported first-quarter net income of $6 million, or 5 cents a share.However, without the one-time gain from the sale of the credit-card division, MNC would have lost about $150 million, or $1.75 a share.The credit-card sale amounted to a $444 million pre-tax gain, or about a $300 million after-tax gain, according to a MNC spokesman yesterday.
BUSINESS
By WENER RENBERG | August 22, 1993
If it makes sense for you to invest in a general municipal bond fund whose income dividends are exempt from federal income tax, consider investing in a high-yield muni fund. And if President Clinton and Congress put you into a higher income tax bracket this year, such funds carry added benefits.As a taxpayer in the 28 percent bracket, you might earn more income from a municipal bond fund than you'd have left after tax on a taxable bond fund of similar maturity and quality.To exceed the income that a 5 percent dividend from a high-grade tax-exempt fund would provide, for example, you would have to earn more than 6.94 percent before tax from a taxable fund.
BUSINESS
By Randi F. Marshall and Randi F. Marshall,Newsday | July 20, 2008
Where will the money come from? Gas and food prices are rising, mortgage interest rates are adjusting higher, loans are harder to find and unemployment is ticking up. There's only one place left to turn, many consumers believe: credit cards. Now, instead of using cards for large items such as a plasma television or new furniture, many people are charging gasoline, milk, food and even, in some cases, other bills, experts said. And many of them are only making the minimum payment on each card - if they can afford even that.
BUSINESS
By William Patalon III and William Patalon III,SUN STAFF | April 24, 2003
Mercantile Bankshares Corp. said yesterday that first-quarter earnings rose more than 6 percent as the Baltimore-based bank was able to boost deposits and loans despite a difficult economy. Mercantile said it had net income of $48.99 million in its fiscal first quarter, which ended March 31, a 6.1 percent increase over net income of $46.18 million earned during the first three months of 2002. Earnings per share were 71 cents on a fully diluted basis, a jump of 7.6 percent from the 66 cents earned a year earlier, and a penny ahead of the consensus estimate of 70 cents, according to a survey of 10 analysts conducted by Zacks Investment Research.
BUSINESS
By Trif Alatzas and Trif Alatzas,SUN REAL ESTATE EDITOR | January 8, 2003
The percentage of homes in foreclosure reached a record in the third quarter of 2002, though a banking group said yesterday that fewer people are falling behind on their mortgage payments, a sign that housing credit is likely to improve during the coming months. The Mortgage Bankers Association of America said yesterday that 1.15 percent of the country's home mortgages were in foreclosure during the three months that ended Sept. 30. That was up from 1.13 percent in the second quarter and the most since the industry group began tracking the figures in 1972.
BUSINESS
By Dan Thanh Dang and Dan Thanh Dang,SUN STAFF | October 18, 2002
Despite a weakened economy, low interest rates and a sagging stock market, Mercantile Bankshares Corp. has posted a 6.2 percent increase in earnings, a solid gain that resulted from strong credit quality and fewer bad-loan write-offs. The state's largest independently owned banking company said yesterday that it earned $48.6 million, or 69 cents per diluted share, in the quarter that ended Sept. 30, compared with $46 million, or 65 cents per diluted share, in last year's quarter. Analysts applauded the company's meeting Wall Street expectations and posting gains despite an unfavorable banking environment.
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | January 21, 2001
A nervous banker is a good banker, and there are plenty of nervous bankers these days. After eight years of surging profits and rapid loan growth, bankers are worried this year that the slowing economy will result in more problem loans and a stunted bottom line. Already, they are seeing signs of trouble, even though the Federal Reserve Board recently cut interest rates. Bad loans are growing, profit margins are shrinking, and income from fees charged consumers and corporate borrowers is declining.
BUSINESS
By BLOOMBERG NEWS | April 11, 1997
CHARLOTTE, N.C. -- First Union Corp. said yesterday that its first-quarter earnings rose 12 percent, fueled by the bank's capital markets and asset management businesses.The bank said net income rose to $471 million, or $1.67 a share, from $420 million, or $1.50, before a charge in the year-ago period. Per-share earnings reflect payment of preferred dividends.First Union also had $50 million in income from the sale of adjustable-rate mortgages during the quarter, a spokesman said."Overall, a solid quarter; everything was in line with expectations," said Michael Ancell, a bank analyst at Edward Jones.
BUSINESS
By David Conn and David Conn,Sun Staff Writer | July 19, 1994
NationsBank Corp. yesterday reported a stronger-than-expected increase in second-quarter earnings, largely due to its acquisitions last year, including Baltimore-based MNC Financial Inc.NationsBank, based in Charlotte, N.C., said earnings rose 43 percent in the period that ended June 30, to $437 million, or $1.58 a share. A year ago the company earned $306 million, or $1.20 a share.Aside from its four major acquisitions last year, NationsBank's financial improvement came from higher loan volumes, lower expenses and better credit quality.
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | January 21, 2001
A nervous banker is a good banker, and there are plenty of nervous bankers these days. After eight years of surging profits and rapid loan growth, bankers are worried this year that the slowing economy will result in more problem loans and a stunted bottom line. Already, they are seeing signs of trouble, even though the Federal Reserve Board recently cut interest rates. Bad loans are growing, profit margins are shrinking, and income from fees charged consumers and corporate borrowers is declining.
BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,SUN STAFF | January 17, 1996
NationsBank Corp. said yesterday that its profits grew 15 percent in 1995, and approached $2 billion as the company consolidated its ever-growing heft to make itself more efficient.NationsBank earned $1.95 billion last year, a 15 percent increase over the $1.69 billion earned in 1994, the Charlotte, N.C.-based bank said. But the stock traded lower for much of the day, before it recovered to close up 50 cents at $66.125, because the fourth quarter's profit was about a nickel a share lower than analysts had predicted.
BUSINESS
By David Conn and David Conn,Sun Staff Writer | July 19, 1994
NationsBank Corp. yesterday reported a stronger-than-expected increase in second-quarter earnings, largely due to its acquisitions last year, including Baltimore-based MNC Financial Inc.NationsBank, based in Charlotte, N.C., said earnings rose 43 percent in the period that ended June 30, to $437 million, or $1.58 a share. A year ago the company earned $306 million, or $1.20 a share.Aside from its four major acquisitions last year, NationsBank's financial improvement came from higher loan volumes, lower expenses and better credit quality.
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