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Rapid Diagnostek developing bug-detection device
Posted: January 31st, 2010, 11:00pm EST
Rapid Diagnostek Inc., a firm developing a product that can quickly detect viruses and bacteria, has raised about $1.5 million in financing. -
Maryland wineries seek end to ‘crazy rules’
Posted: January 31st, 2010, 11:00pm EST
A toilet stands between John and Denise Wilkerson’s dream of turning their 45-acre farm into a winery. -
Hermann’s legacy lives on in hospital and green space
Posted: January 31st, 2010, 11:00pm EST
The name Hermann is spoken by many Houstonians every day. They may be referring to a hospital, a park, a street, a building or a public square. While the name is well-known, people may know little about the man behind the name: George Henry Hermann. -
Bank deal adds work for Columbia’s Mark Brandon
Posted: January 31st, 2010, 11:00pm EST
Mark Brandon’s job just got harder. -
North Pacific assets for sale
Posted: January 31st, 2010, 11:00pm EST
North Pacific Group Inc., Oregon’s third-largest private company, has set a Friday deadline to accept bids for its business units. -
Pilgrim’s Pride Corp. to pay up to $1M to settle pay dispute
Posted: January 29th, 2010, 4:04pm EST
Poultry company Pilgrim’s Pride Corp. has agreed to pay up to $1 million to settle a suit filed by workers at the company's Dallas facility who said they should be paid for time spent putting on layers of protective gear. (PPC) -
Maui sugar plantation stays open, for now
Posted: January 29th, 2010, 2:55pm EST
The owner of Hawaii’s only sugar plantation may shut down operations next year, citing drought conditions and disputes over diverted water. (ALEX) -
Leprino Foods says it no longer gets milk from dairy accused of abusing cows
Posted: January 28th, 2010, 6:52pm EST
Denver cheese maker Leprino Foods Co. said Thursday that a New York dairy accused by an animal-rights group of abusing its cows no longer supplies one of its cheese plants with milk. -
Monsanto brings R&D facility to Kannapolis
Posted: January 28th, 2010, 8:05am EST
Agricultural-technology giant Monsanto Co. will establish a research-and-development operation at the N.C. Research Campus within six months. (MON) -
Front Range uses only 19% of Colorado’s water, report says
Posted: January 27th, 2010, 3:04pm EST
A new report on Colorado’s water usage concludes that the Front Range uses about 19 percent of the state’s water, yet generates between 80 and 86 percent of its economic activity and tax revenue. -
Applications open for agricultural grants
Posted: January 27th, 2010, 1:38pm EST
The N.C. Value-Added Cost Share program is accepting applications for the spring funding cycle. The program is administered by N.C. MarketReady, part of the educational outreach efforts of Greensboro’s N.C. A&T State University and Raleigh’s N.C. State University. It is supported by the N.C. Tobacco Trust Fund Commission to support the development of value-added agricultural operations, an emerging sector of the state’s agriculture. -
Bunge to sell Brazilian fertilizer assets for $3.8B
Posted: January 27th, 2010, 8:19am EST
Bunge Ltd. plans to sell its fertilizer nutrients assets in Brazil, including its interest in Fertilizantes Fosfatados S.A. (Fosfertil), for $3.8 billion in cash to Vale S.A. (VALE) (BG) -
SF investor in huge Marin land deal
Posted: January 26th, 2010, 3:27pm EST
San Francisco-based Virtu Investments has paid $4.5 million for the 865-acre Borello Ranch in West Marin, one of the largest land sales in Marin County in years. -
Target to stop selling farmed salmon
Posted: January 26th, 2010, 3:15pm EST
Target Corp., which has more than a dozen locations in the Raleigh-Durham area, on Tuesday said it has eliminated farmed salmon from its stores, instead selling only wild-caught Alaskan salmon. (TGT) -
Crispin Cider gets Fox Barrel Cider
Posted: January 26th, 2010, 1:04pm EST
Crispin Cider Co., which makes a high-end alcoholic cider, has bought Fox Barrel Cider Co. in a bid to broaden its brand and reach. -
Full text of Strickland's State of the State speech
Posted: January 26th, 2010, 12:31pm EST
What follows is the full text of Gov. Ted Strickland's annual address to the state legislature. The governor spoke at noon on Jan. 26 at the Ohio Statehouse: -
Target says no to farmed salmon
Posted: January 26th, 2010, 11:01am EST
Target Corp. on Tuesday said it has eliminated farmed salmon from its stores, instead selling only wild-caught Alaskan salmon. (TGT) -
Mexico OKs Monsanto corn seeds
Posted: January 25th, 2010, 2:34pm EST
Three types of Monsanto Co.’s genetically modified corn seed traits have won regulatory approval for import in Mexico. (MON) -
Former tribal leader knew to take advantage of opportunities
Posted: January 24th, 2010, 11:00pm EST
Ivan Makil grew up on the Salt River Pima-Maricopa Indian Community near the corner of Pima and McDowell roads. He watched housing and commercial developments creep closer and closer to the reservation boundaries and pondered how one street could so definitively divide a land of rapid development and a land of farming. -
How Seattle conventions spread the wealth, even in thrifty times
Posted: January 24th, 2010, 11:00pm EST
Wendell and Naomi Wimberly couldn’t have been happier than to be in Seattle for the annual meeting of the American Farm Bureau Federation. -
$25M biomass test plant big opportunity for Hawaii
Posted: January 24th, 2010, 11:00pm EST
The company planning to build a biomass plant in Kapolei said it chose the Islands for its multimillion-dollar test project because of the state’s commitment to “green” energy and accessibility to a variety of feedstocks that can be grown year-round. -
Receiver appointed for $1B North Pacific Group Inc.
Posted: January 21st, 2010, 5:36pm EST
The North Pacific Group Inc., Oregon’s third-largest private company, has been taken over by a court-appointed receiver after what appears to be at least three failed attempts to sell the company. -
Consumer groups seek ban on Monsanto sugar beets
Posted: January 21st, 2010, 2:32pm EST
Earthjustice and Center for Food Safety attorneys filed court papers this week on behalf of organic seed growers, conservation groups and food safety groups seeking a ban on Monsanto’s genetically engineered sugar beets and sugar beet seeds. (MON) -
Fla. Farm Bureau blasts new EPA standards
Posted: January 21st, 2010, 11:53am EST
The Florida Farm Bureau Federation has joined a growing number of groups blasting new water quality standards proposed last week by the U.S. Environmental Protection Agency. -
Drought leaves 99% of Hawaii dry
Posted: January 20th, 2010, 5:05pm EST
Hawaii agriculture continues to be damaged by an unrelenting drought that has continued into the state’s rainy season. -
Coke partners to help African farmers
Posted: January 20th, 2010, 9:06am EST
The Coca-Cola Co., the Bill & Melinda Gates Foundation and nonprofit TechnoServe formed a four-year $11.5 million partnership to help 50,000 small fruit farmers in Uganda and Kenya boosts productivity and double their incomes by 2014. (KO) -
Abengoa, Mid-Kansas to partner on hybrid power plant
Posted: January 19th, 2010, 3:30pm EST
Abengoa Bioenergy and Mid-Kansas Electric Co. LLC announced Tuesday plans to develop the country’s first commercial-scale hybrid cellulosic ethanol and power plant. The facility will be built in Stevens County at a cost of $550 million and will have the ability to generate both electric power and cellulosic ethanol. -
Cargill donates $2M to Macalester for charter-school program in MN
Posted: January 19th, 2010, 10:08am EST
The Cargill Foundation has awarded a $2 million grant to the new Center for School Change at Macalester College in St. Paul, intended to improve the academic and operational performance of Minneapolis-area charter public schools that serve a high percentage of students from low-income families. -
Delphi named as alternative site for casino
Posted: January 19th, 2010, 8:03am EST
Penn National Gaming Inc. has picked the former Delphi Automotive Systems LLC site as an alternate location for its Columbus casino. -
Online wine seller Vinfolio takes unusual ‘insolvency’ route
Posted: January 18th, 2010, 5:42pm EST
Vinfolio Inc., a San Francisco-based online wine seller that raised $4.5 million in venture funding last September, entered into an “Assignment for the Benefit of Creditors” filing late last week. The filing is a state-level alternative to filing under Chapter 7 or Chapter 11 for federal bankruptcy protection. -
Jacksonville shares ‘tastiest’ moniker
Posted: January 18th, 2010, 12:04pm EST
Jacksonville is among the featured cities in Florida’s Tastiest Catch, a new Web site launched by the Florida Department of Agriculture and Consumer Services. -
Novus opens Singapore plant
Posted: January 18th, 2010, 11:02am EST
Novus International Inc. has opened a new blending plant in Singapore for animal feed supplements. -
Report: Mendocino's Fetzer Vineyards lays off 12 transportation workers
Posted: January 18th, 2010, 10:22am EST
Fetzer Vineyards laid off 12 workers in its trucking unit and will outsource that role “to save money,” the Santa Rosa Press Democrat reported late Friday. -
Monsanto wins part of DuPont license dispute
Posted: January 18th, 2010, 9:41am EST
DuPont cannot combine its seed trait technology with rival Monsanto Co.'s, a federal judge in St. Louis ruled Friday in the companies' ongoing license agreement dispute. (MON) -
Murphy Tomatoes seeks to take advantage of ripe opportunities
Posted: January 17th, 2010, 11:00pm EST
Murphy Tomatoes is settling into a new home and looking for expansion opportunities. -
With financing finally in place, Troy food co-op plans summer opening
Posted: January 17th, 2010, 11:00pm EST
Supporters of opening a fresh food market in downtown Troy got the last bit of financing they needed to finally move ahead with the Troy Community Food Co-op. -
Capay Valley farmers sue Caltrans over plan to widen highway
Posted: January 17th, 2010, 11:00pm EST
A group of Yolo County residents and farmers have filed a lawsuit challenging a $58 million project to widen Highway 16 in rural Yolo County. -
Ohio soybean industry: They’re for more than food
Posted: January 17th, 2010, 11:00pm EST
The underrated soybean may be ready to blossom into a bigger part of consumers’ everyday lives. -
Hawaii shrimp trucks don’t go easy on competition (or garlic)
Posted: January 17th, 2010, 11:00pm EST
It’s lunchtime on a Friday and the smell of garlic cuts through the voggy air near the McDonald’s in Haleiwa. -
Supreme Court to take up Monsanto alfalfa case
Posted: January 15th, 2010, 4:47pm EST
The Supreme Court said Friday it would consider overturning a court order that has blocked Monsanto Co. from selling alfalfa seeds that are genetically modified to resist its Roundup weed killer. (MON) -
Crist requests freeze disaster declaration for all of Florida
Posted: January 15th, 2010, 1:32pm EST
Gov. Charlie Crist cited extensive losses for agriculture producers in all 67 Florida counties in seeking a disaster declaration for the entire state due to cold weather losses. -
AeroGrow names top shareholder its CEO, changes focus
Posted: January 15th, 2010, 10:14am EST
Colorado's AeroGrow International Inc. said Friday it has named a new CEO, changed its sales focus and embarked on additional staff reductions as part of an effort to save the company $1.6 million per year. (AERO) -
Agriculture department offers added funds to groups that provide meals to seniors
Posted: January 14th, 2010, 10:43am EST
Texas Agriculture Commissioner Todd Staples is awarding $1.1 million to San Antonio area service providers that deliver meals to home-bound elderly and disabled residents. -
Justice Department seeks assurances from Monsanto
Posted: January 14th, 2010, 10:06am EST
Monsanto Co. said Thursday that the U.S. Department of Justice has issued a civil investigative demand requesting information on its soybean traits business as part of it ongoing inquiry into antitrust issues and marketing tactics in the agriculture and seed industry. (MON) -
Mosaic investment hurts Cargill earnings
Posted: January 14th, 2010, 9:54am EST
Cargill Inc. earned $489 million in its fiscal 2010 second quarter ended Nov. 30, down 59 percent from $1.19 billion in the same period a year ago. -
Crowds gather on state's wine trails
Posted: January 14th, 2010, 2:48am EST
New York wine trails uncorked a surge of about 5 million tourist visits in 2009 that gave a boost to rural economies in the state, the grape and wine industry said. -
Listeria scare prompts Parkers Farm recall
Posted: January 13th, 2010, 11:43am EST
Coon Rapids food maker Parkers Farm Inc. is recalling spreads, salsas and cheeses after products have been found “potentially contaminated” with Listeria. -
Cornerstone warm enough for plant replacement financing plan
Posted: January 13th, 2010, 10:58am EST
Cornerstone Solutions Group weathered freezing temperatures with minimal loss and decided to offer zero percent financing to qualified customers for replacing cold-damaged plants and trees. -
Cargill sweetener Truvia dives into yogurt
Posted: January 13th, 2010, 10:47am EST
Agriculture giant Cargill Inc.’s no-calorie natural sweetener Truvia has made its way into another tabletop favorite, yogurt. -
Sonoma Valley's B.R. Cohn Winery announces "slew" of promotions
Posted: January 12th, 2010, 6:51pm EST
B.R. Cohn Winery’s founder and owner Bruce Cohn announced late Tuesday a “slew” of promotions at the Sonoma Valley winery, including title upgrades for longtime CFO Terry Gard and Tasting Room Manager Sherri Hewitt. -
Bunge ups stake in Brazil sugarcane mills
Posted: January 12th, 2010, 5:23pm EST
Bunge Ltd. said Tuesday it reached agreements to become the owner of additional interests in the Moema Group cluster of sugarcane mills located in Brazil. (BG) -
Oahu farm owners expected to plead guilty
Posted: January 12th, 2010, 3:12pm EST
The owners of Kapolei-based Aloun Farms are expected to plead guilty in federal court on Wednesday to running a human trafficking conspiracy in which they recruited Thai workers to Hawaii and forced them to work for low wages. -
Farmers in Seattle: ‘Don’t cap our future’
Posted: January 12th, 2010, 1:42pm EST
Farmers and ranchers attending a conference in Seattle Tuesday approved a resolution opposing “cap and trade” proposals before Congress and also said they’ll support “any legislation that would suspend the EPA’s authority to regulate greenhouse gases.” -
'08 Hawaii ag industry value up 5%
Posted: January 12th, 2010, 1:13pm EST
The value of agricultural products grown in Hawaii rose 5 percent in 2008, boosted by a huge increase in seed crops. -
Northern California exports outpace Southern California
Posted: January 12th, 2010, 11:54am EST
California’s export trade is “peeking around an important corner here, (but is) not fully turning it,” a local international trade adviser reported Tuesday after analyzing the latest trade data. -
Clermont nursery owners arrested
Posted: January 12th, 2010, 11:52am EST
The husband and wife owner of John’s Citrus Trees nursery in Clermont, along with their son, have been arrested for allegedly violating state statutes involving the movement of citrus products from a quarantined location. -
Strawberry give-away to support USF scholarship, introduce brand
Posted: January 12th, 2010, 10:36am EST
Wishnatzki Farms will give away thousands of pounds of strawberries at the University of South Florida on Jan. 19 to raise money for a scholarship fund and to publicize its new Wish Farms brand. -
Monsanto, Stokes Bio partner on plant breeding
Posted: January 12th, 2010, 9:16am EST
Biotechnology firms Monsanto Co. of St. Louis and Stokes Bio Ltd. of Limerick, Ireland, said Tuesday they have entered into a licensing agreement and collaboration to help accelerate the pace of new advancements in plant breeding. (MON) -
Danforth Center to collaborate with Dow on cassava research
Posted: January 12th, 2010, 8:00am EST
Researchers at the Donald Danforth Plant Science Center and Dow AgroSciences, a subsidiary of The Dow Chemical Co., have partnered to study how technology can help improve the root crop cassava for millions of people living in developing countries. -
Sterling Financial hit with employee suit
Posted: January 11th, 2010, 7:11pm EST
An employee of Sterling Savings Bank has filed a lawsuit intended to be a class action against the bank’s Spokane-based holding company in federal court, alleging that it failed to protect employees’ investments in company stock through their 401(k) plans. (STSA) -
Adams Dairy Bank will buy out majority shareholder
Posted: January 11th, 2010, 6:04pm EST
Adams Dairy Bank has agreed to buy out Capitol Bancorp Ltd.’s 51 percent interest in the bank for an undisclosed amount. (CBC) -
Investment advisors Neil Moody, Chris Moody face fraud charges
Posted: January 11th, 2010, 4:24pm EST
In fallout from the an alleged Ponzi scheme operated by Arthur Nadel, the Securities and Exchange Commission has charged a father-son investment advisor team in Sarasota with securities fraud. -
SEC won’t file civil charges against BofA execs
Posted: January 11th, 2010, 4:17pm EST
The Securities and Exchange Commission said Monday that it won’t file civil charges against Bank of America’s former CEO Ken Lewis or the bank’s executives and directors. (BAC) -
USDA buys Fluidigm test for cattle
Posted: January 11th, 2010, 4:06pm EST
The U.S. Department of Agriculture has bought a testing system from Fluidigm Corp. to help manage America's dairy and beef cattle. -
Wash Federal shares fall after acquisition
Posted: January 11th, 2010, 3:54pm EST
Shares of Washington Federal Inc. dropped nearly 6 percent on Monday following the company's acquisition of Horizon Bank, which was seized and sold by regulators Friday. (WFSL) -
SEC seeks further charges against BofA
Posted: January 11th, 2010, 3:36pm EST
The Securities and Exchange Commission is seeking to charge Bank of America for not disclosing “extraordinary losses” at Merrill Lynch before asking bank shareholders to approve the deal. (BAC) -
SEC seeks to hike charges vs. BofA
Posted: January 11th, 2010, 3:04pm EST
The Securities and Exchange Commission wants to charge Bank of America Corp. with failing to disclose extraordinary financial losses at Merrill Lynch & Co. before BofA shareholders voted to approve the deal. (BAC) (BAC) -
Baird Ventures takes minority stake in Fellon-McCord
Posted: January 11th, 2010, 2:54pm EST
A Chicago-based private equity firm has acquired part of Fellon-McCord Associates LLC. -
Mastro agrees to state securities consent order
Posted: January 11th, 2010, 2:34pm EST
Bankrupt Seattle developer Michael R. Mastro Sr. has agreed to refrain from violating state securities laws under a consent order with the Washington state Department of Financial Institutions, the agency said Monday in a press release. -
Greensboro credit union joins Self-Help
Posted: January 11th, 2010, 2:06pm EST
Choice Federal Credit Union has merged with Self-Help Credit Union in Durham, according to an announcement. -
Venture fund raising plummets in 2009
Posted: January 11th, 2010, 1:56pm EST
Venture capital fund raising nationwide hit its lowest rate in at least five years in 2009, according to a Thomson Reuters/National Venture Capital Association study released Monday. -
Federal panel expected to question JPMorgan CEO
Posted: January 11th, 2010, 1:53pm EST
Jamie Dimon, the chief executive of JPMorgan Chase, will be among the first officials to testify Wednesday at the two-day hearings of the Financial Crisis Inquiry Commission, a Congress-appointed panel designated to examine the financial events of the past several years. (JPM) -
AG Cuomo quizzes banks on bonuses
Posted: January 11th, 2010, 1:36pm EST
State Attorney General Andrew Cuomo asked eight of the nation’s largest banks for details on Monday about the size and scope of year-end bonuses to employees. (BAC) (BK) (C) (GS) (JPM) (MS) (SST) (WFC) -
Dual citizen Amirnazmi sentenced to 4 years for doing business with Iran
Posted: January 11th, 2010, 1:33pm EST
A Berwyn, Pa., man was sentenced to four years in prison for violating U.S. sanctions against Iran by conducting business with the country. -
SEC sues former Indevus exec over insider trading allegations
Posted: January 11th, 2010, 1:31pm EST
The U.S. Securities and Exchange Commission has filed an insider trading lawsuit in Massachusetts District Court against a former senior executive at Indevus Pharmaceuticals. -
Cuomo seeks info on BofA, Wells bonuses
Posted: January 11th, 2010, 1:29pm EST
New York Attorney General Andrew Cuomo is seeking information on employee bonuses for 2009 from eight U.S. banks, including Bank of America Corp. and Wells Fargo & Co. (BAC) (WFC) -
Missouri uses more sugar beets to melt icy roads
Posted: January 11th, 2010, 12:53pm EST
Missouri highway workers are using more sugar beets to melt ice off the state’s roads. -
Fidelity’s venture capital arm breaks off
Posted: January 11th, 2010, 12:45pm EST
The staff of Fidelity Investments’ venture arm has broken off from the Boston mutual fund giant to form an independent venture capital firm called Volition Capital, partners at the new firm announced in an e-mail Monday. -
Pacific Ethanol shares skyrocket 80%
Posted: January 11th, 2010, 12:37pm EST
Shares of Pacific Ethanol Inc. soared more than 80 percent Monday, following a positive report by InvestorSoup.com. -
U.S. Bank opens branch at Reuters offices
Posted: January 11th, 2010, 12:36pm EST
U.S. Bank on Monday said it recently opened a branch at Thomson Reuters’ Eagan office campus. (USB) -
Equity Estates teams with Hideaways Club
Posted: January 11th, 2010, 12:01pm EST
An Atlanta-based luxury vacation home fund company has formed an alliance with a similar firm in Europe. -
Lockhart: Economy on the mend
Posted: January 11th, 2010, 11:58am EST
Federal Reserve Bank of Atlanta President and Chief Executive Officer Dennis P. Lockhart told the Rotary Club of Atlanta on Monday that the economy “is on the mend, but it’s not free of drags or risk.” -
Investment Management Consultants Association names new executive director
Posted: January 11th, 2010, 11:42am EST
Sean Walters has been hired as the new executive director of the Investment Management Consultants Association, officials said Monday. -
SonoSite to buy back $100M in stock
Posted: January 11th, 2010, 11:31am EST
Ultrasound device maker SonoSite Inc. said it will purchase up to $100 million of its common stock. (SONO) -
Dow up slightly Monday, Alcoa stock rises before earnings announcement
Posted: January 11th, 2010, 11:27am EST
Alcoa Inc.’s stock price was up slightly by end of trading Monday as the company prepares to release its fourth quarter and fiscal 2009 financials after close of market, kicking off the earnings season. (AA) (AEO) (BK) (CNX) (DKS) (FII) (KMT) (KOP) (PNC) (PPG) (X) (WAB) (WCC) -
White House views sought on Janus lawsuit
Posted: January 11th, 2010, 11:18am EST
The U.S. Supreme Court on Monday invited the White House to weigh in on whether justices should hear Janus Capital Group’s appeal in a class-action lawsuit dating to 2003. (JNS) -
KPMG exec named CFO of Community Bank Partners
Posted: January 11th, 2010, 10:12am EST
Tensie Homan will become the chief financial officer and a founding partner of Colorado's Community Bank Partners, effective Jan. 18, the company said Monday. -
JPMorgan Chase & Co. to open 24 more homeownership centers, including one in Dallas
Posted: January 11th, 2010, 10:04am EST
Banking giant JPMorgan Chase said Monday the company is opening 24 more Chase Homeownership Centers across the nation, including one in Dallas, to counsel struggling homeowners. -
AcadiaSoft raises $4M in venture backing
Posted: January 11th, 2010, 10:04am EST
Financial software maker AcadiaSoft Inc. has landed $4 million in venture backing from a handful of major banking and investment firms. -
AIC Ventures partner steps down
Posted: January 11th, 2010, 9:38am EST
AIC Ventures Managing Partner David Steinwedell, who closed more than $375 million during his tenure, resigned from the company Friday. -
Baird Venture Partners invests in Louisville firm
Posted: January 11th, 2010, 9:30am EST
Baird Venture Partners, a unit of Milwaukee-based Robert W. Baird & Co., acquired “a significant minority interest” in Fellon-McCord, a Louisville, Ky., energy consulting and management company. -
Hillenbrand to buy K-Tron of Pitman for $435M
Posted: January 11th, 2010, 9:28am EST
Hillenbrand Inc., a holding company, has agreed to buy K-Tron International Inc. for roughly $435 million, or $150 per share in cash. (KTII) (HI) -
Survey: M&A to pick up in Florida in first half
Posted: January 11th, 2010, 9:25am EST
Merger and acquisition activity in Florida remains stagnant but market experts predicted it will pick up in the first half of 2010, according to a survey released Dec. 8. -
Associated sets stock offer, posts 4Q loss
Posted: January 11th, 2010, 9:02am EST
Associated Banc-Corp simultaneously announced Monday morning a $400 million stock offering and a $180.6 million fourth-quarter net loss. (ASBC) -
Banks regard franchise operators as good loan prospects
Posted: January 10th, 2010, 11:00pm EST
Many bankers say that associating with a strong franchise gives new businesses a leg up on other customers seeking loans, but lenders are still taking close looks at these borrowers before they put ink to paper. -
Are banks too big to tame?
Posted: January 10th, 2010, 11:00pm EST
Robin Lyle isn’t afraid of new rules about overdraft fees. -
Keeping FDIC in the black has bankers seeing red
Posted: January 10th, 2010, 11:00pm EST
Ever since the banking crisis started, a debate has ensued behind the scenes about how to make sure the Federal Deposit Insurance Corp. has enough cash to fund the losses caused by failing banks. Most people know deposits in U.S. banks are insured by the federal government through the FDIC, but they don’t think about where the funds come from to pay for that insurance. Even though deposits are backed by the full faith and credit of the U.S. government, losses from failed banks are actually covered by a deposit-insurance fund maintained by the FDIC. The cash in that fund is obtained from premiums paid by the banking industry. -
New CEO takes the reins at Technology Credit Union
Posted: January 10th, 2010, 11:00pm EST
One of the Bay Area’s largest credit unions has turned to an executive who was once in Silicon Valley Bank’s senior ranks for new leadership. -
Colorado M&A deals rise in 2009 fourth quarter
Posted: January 10th, 2010, 11:00pm EST
Colorado mergers-and-acquisitions activity accelerated noticeably in the fourth quarter of 2009, buoying hopes for a stronger 2010. -
Parish eyes $1.1B for two new funds
Posted: January 10th, 2010, 11:00pm EST
CHAPEL HILL – Private equity investor Parish Capital Advisors is seeking to raise two new investment funds totaling a combined $1.1 billion. -
Litigation wave may hit failed banks
Posted: January 10th, 2010, 11:00pm EST
The nation’s bank failures could soon lead to a wave of legal action against some officers and directors of some failed lenders. And Georgia, with its nation-leading tally of seized banks, could be ground zero. -
Private equity firm starting $200M health-care fund
Posted: January 10th, 2010, 11:00pm EST
Private equity firm EDG Partners LLC could raise an up to $200 million health-care-focused investment fund. -
WashingtonFirst recruits Kevin Curtis to lead Virginia market
Posted: January 10th, 2010, 11:00pm EST
Kevin Curtis, CEO of defunct would-be startup First Financial Bank, has landed a new gig at WashingtonFirst Bank as president of the Virginia market, a newly created position. -
CompuCredit to spin off short-term loan unit
Posted: January 10th, 2010, 11:00pm EST
CompuCredit Holdings Corp. plans to spin off its micro-loan operations in the United States and United Kingdom into a new publicly traded company, in a move that could help the struggling subprime lender attract outside capital. (SNV) (STI) -
Sapient Financial launches career development program
Posted: January 10th, 2010, 11:00pm EST
Sapient Financial Group has launched a new three-year career development program designed to groom future financial professionals called GET THERE. -
Melnuk, Hillman buy WestBridge Bank
Posted: January 10th, 2010, 11:00pm EST
WestBridge Bank & Trust Co. is planning to sell itself for $480,246 to a new corporation owned by Paul Melnuk and Tom Hillman, owners of FTL Finance. The bank was launched in 2006 with about 225 investors who provided $12.5 million in capital. -
Bio events build on J.P. Morgan
Posted: January 10th, 2010, 11:00pm EST
Inspired by a who’s-who list of executives and investors in San Francisco next week for biopharma’s premier annual shindig — the J.P. Morgan Healthcare Conference — two spinoff conferences look to make their mark on Union Square. -
DynaVox offering sign that IPO market is starting to rebound
Posted: January 10th, 2010, 11:00pm EST
With the announcement this week that South Side technology company DynaVox Inc. is planning an initial public offering, local investors are expressing some optimism that this move might signal a more robust IPO market for 2010. -
Truman raises $13 million from investors, bank sales
Posted: January 10th, 2010, 11:00pm EST
Truman Bank, which has been under regulatory orders to restructure, has raised $8 million in new capital from about 10 investors since June and is projecting a profit of $2.4 million in 2010 after a loss of $7.1 million in 2009. -
Recession boosts investors’ interest in tax certificates
Posted: January 10th, 2010, 11:00pm EST
Steve Sjuggerud points to a check for $2,257, the first return on property tax-related investments he made several months ago. -
Jacksonville small-business owners struggling to get surety bonds
Posted: January 10th, 2010, 11:00pm EST
General contractor Joseph Hutchinson can’t break the surety bond ceiling. -
Short sellers put BofA in the crosshairs
Posted: January 10th, 2010, 11:00pm EST
Short sellers were piling into Bank of America last month even as California’s largest bank was announcing its exit from the government’s bailout program. -
Yadkin Valley Financial balks at detailing source of $4.3 million theft
Posted: January 10th, 2010, 11:00pm EST
Two unidentified former employees at Charlotte’s American Community Bank are believed to be responsible for $4.3 million in missing cash at the bank, a company official says. -
SNL data: Two local CUs are among weakest
Posted: January 10th, 2010, 11:00pm EST
Two Dallas-area credit unions rank among the weakest in the nation, according to new data from SNL Financial LLC. -
Consumer Financial Protection Agency could further tighten credit
Posted: January 10th, 2010, 11:00pm EST
Legislation creating the Consumer Financial Protection Agency could make credit more expensive and harder to get, opponents of the bill contend. -
Who knew? BofA’s stock turns out a winner in ’09
Posted: January 10th, 2010, 11:00pm EST
Only one Charlotte-area bank stock increased in value in 2009. No surprise there — it was a bad year for banks. (BAC) (WFC) (BBT) (YAVY) (GRAN) -
Commerce boss pledges profitability
Posted: January 10th, 2010, 11:00pm EST
When Commerce Bank of Oregon opened its doors on the 12th floor of downtown Portland’s Pacwest Center, its goals were as lofty as its high-rise offices. -
Cauble duo joins Consolidated Planning as it starts expansion
Posted: January 10th, 2010, 11:00pm EST
Consolidated Planning is preparing for a major expansion by hiring former city lobbyist Boyd Cauble as an adviser. -
Washington state bank execs depart en masse
Posted: January 10th, 2010, 11:00pm EST
These are dangerous days to be a banker. -
Ex-Wachovia foursome starts investment firm
Posted: January 10th, 2010, 11:00pm EST
Four former Wachovia Corp. bankers are launching a boutique investment bank here, hoping to capitalize on the changing commercial real estate environment. -
A third of New Mexico households shun banks
Posted: January 10th, 2010, 11:00pm EST
A new national survey by the Federal Deposit Insurance Corp. shows that New Mexico has one of the highest rates of unbanked and underbanked populations in the U.S. -
Federal boost helps ramp up lending in Washington state
Posted: January 10th, 2010, 11:00pm EST
Redhawk Drywall Service has rented its office space during its 13 years in business. -
Banks, credit unions reach out to underserved populations
Posted: January 10th, 2010, 11:00pm EST
Alejandra Seluja, manager of Santa Fe-based Guadalupe Credit Union’s branch on the city’s south side, knows firsthand why Spanish-speaking immigrants often shun financial institutions. -
Investment houses vie for talent in ‘unprecedented’ jockeying
Posted: January 10th, 2010, 11:00pm EST
As the investment world emerges from 2009, our collective annus horribilis, there are increasing signs of optimism. -
Ponzi suit again tags Regal Financial, Tam
Posted: January 10th, 2010, 11:00pm EST
Regal Financial Bank is again facing allegations in a federal lawsuit that claims the bank and its former chief executive were involved in a multimillion-dollar Ponzi scheme that bilked Indonesian investors out of millions of dollars. -
Quality over quantity: National venture-capital expert Mark Heesen, Chrysalis Ventures’ David Jones Jr. discuss how Louisville fits in competitive VC world
Posted: January 10th, 2010, 11:00pm EST
National venture-capital expert Mark Heesen put a sharp spin on his talk Wednesday to the Venture Club of Louisville. -
Mutual funds make comeback in 2009
Posted: January 10th, 2010, 11:00pm EST
The investment market, which shrunk the assets of Milwaukee-based mutual funds in 2008 and early 2009, fed a strong rebound by the end of 2009. -
Kansas City-area banks push to improve key figures
Posted: January 10th, 2010, 11:00pm EST
Some of the same issues that plagued five area banks closed by regulators in 2009 continue to haunt other local banks. -
New federal rule will require banks to keep more loans on books
Posted: January 10th, 2010, 11:00pm EST
Banks involved in loan participations or securitizing loans now are subject to a new accounting rule that requires them to recognize more of those assets. -
Credit worthy: Higher returns, cheaper loans prompt customers to transfer deposits to credit unions
Posted: January 10th, 2010, 11:00pm EST
Credit unions remain a comforting presence amidst the financial crisis, giving them advantages during a period when consumers are diving for cover. -
Mergers help Credit Union of Johnson County offer members more services
Posted: January 10th, 2010, 11:00pm EST
On Feb. 1, Credit Union of Johnson County officially will become Mainstreet Credit Union. -
Proposed new rules would test corporate credit unions
Posted: January 10th, 2010, 11:00pm EST
Area credit union leaders are concerned about how proposed rules to tighten the safety and security of the corporate credit unions will affect them. -
Sentinel credit union opens membership to Darden
Posted: January 10th, 2010, 11:00pm EST
Multi-Media Federal Credit Union changed its name to Darden Federal Credit Union and expanded its turf in late December as it shifted its primary corporate affiliation from Orlando Sentinel Communications to Darden Restaurants Inc. -
Colorado's agriculture outlook has pluses, minuses
Posted: January 10th, 2010, 11:00pm EST
As the National Western Stock Show kicks off its 104th year, the state’s $16 billion agriculture industry is facing a “mixed bag” of good and bad news on the economic front. -
NCSU says time is ripe for starting greenhouses
Posted: January 10th, 2010, 11:00pm EST
N.C. State University hopes to advance its research at the N.C. Research Campus by adding two temporary greenhouses in Kannapolis early next year. -
A bountiful harvest
Posted: January 10th, 2010, 11:00pm EST
The Oregon Food Bank had a year most businesses would kill for: In the 12 months that ended June 30, revenue grew 16.5 percent and it added 37 distribution points and 20 percent more customers, roughly half of them first-timers. -
Bogle hopes to bring winegrape crushing, bottling home to Yolo
Posted: January 10th, 2010, 11:00pm EST
Bogle Vineyards Inc. plans to bring wine production jobs home to Yolo County by building a crushing and bottling plant about four miles southwest of Clarksburg, where the winery has a tasting room. -
Horizon Bank fails; bought by Washington Federal
Posted: January 8th, 2010, 8:15pm EST
State regulators seized Horizon Bank on Friday evening, making it Washington’s first bank failure of 2010 and the fourth community bank to be seized in the state in the last 13 months. (WSFL) -
Assets of failed Fla. banks part of FDIC sale
Posted: January 8th, 2010, 4:00pm EST
The Federal Deposit Insurance Corp. struck a deal with Los Angeles-based Colony Capital Acquisitions to manage $1.02 billion in commercial real estate loans from failed banks – with three-quarters of the assets in Florida, Georgia, California and Nevada. -
Hampton Roads Bankshares gives CEO Davies bonus, stock
Posted: January 8th, 2010, 3:36pm EST
Virginia-based Hampton Roads Bankshares, (Nasdaq: HMPR), which owns the Gateway branch network in the Triangle, has given its new CEO, John A.B. “Andy” Davies, Jr,. a cash bonus of $58,000 and 75,000 fully-vested shares of restricted stock as inducement awards. -
Denver CPA gets prison sentence in college-fund, rent theft
Posted: January 8th, 2010, 3:34pm EST
A Denver accountant was sentenced to prison Friday and ordered to pay $2.9 million in restitution in connection with thefts from college trust funds and apartment rent payments. -
Old Line Bank nabs lender team from The Columbia Bank
Posted: January 8th, 2010, 3:31pm EST
Old Line Bank has hired a team of four commercial lenders in Prince George’s County from The Columbia Bank, the company announced Friday. -
VC fundraising worst since ’03
Posted: January 8th, 2010, 1:51pm EST
As predicted after a dismal third quarter, 2009 was the worst fundraising year for U.S. venture capital funds since 2003. -
SBA loans grow in southeast Wisconsin
Posted: January 8th, 2010, 1:41pm EST
Lending activity for U.S. Small Business Administration-backed loans in December 2009 continued the recent trend of significant increases in southeast Wisconsin. -
Ex-PricewaterhouseCoopers exec opens Fennebresque office in Raleigh
Posted: January 8th, 2010, 1:24pm EST
Jeff Barber, former longtime manager of PricewaterhouseCoopers’ Raleigh operation, has joined the Charlotte-based investment banking firm of Fennebresque & Co. and is opening a Raleigh office for the firm. -
BofA ready to pay big bonuses
Posted: January 8th, 2010, 1:22pm EST
Bank of America Corp. will pay significantly higher bonuses to some employees this year, particularly in its investment-banking operations. (BAC) -
Schwab’s price cut may spur industry consolidation
Posted: January 8th, 2010, 1:18pm EST
Charles Schwab’s surprise decision to cut commissions for online stock trades to $8.95 is likely to spur a price war that could see some weaker players join forces with rivals. (ETFC) (AMTD) (SCHW) -
Free Flow Power generates $5.7M in venture capital
Posted: January 8th, 2010, 1:05pm EST
Free Flow Power Corp., a developer of hydropower technologies, has raised $5.7 million in venture capital from 31 investors, the company disclosed in a regulatory filing Friday. -
North Valley Bank working with Federal Reserve to strengthen operations
Posted: January 8th, 2010, 12:43pm EST
North Valley Bank, parent company of North Valley Bancorp, entered into a written agreement with the Federal Reserve Bank of San Francisco to develop a plan in 45 days to strengthen the bank’s policies and 60 days to submit a capital plan. -
Harland Clarke buys two marketing technology companies
Posted: January 8th, 2010, 12:33pm EST
Harland Clarke Corp. has expanded the company’s direct and digital marketing capabilities through the strategic acquisition of two key companies. -
BofA ready to pay big bonuses
Posted: January 8th, 2010, 12:04pm EST
Bank of America (NYSE, BAC) will pay significantly higher 2009 bonuses to some employees, particularly in its investment banking operations, a spokesman for the bank said. -
Baltimore’s foreclosure suit against Wells Fargo is dismissed
Posted: January 8th, 2010, 12:00pm EST
Big banks might be popular scapegoats for the nation’s economic woes, but that won't necessarily hold up in court. A federal judge has dismissed a lawsuit against Wells Fargo in which the City of Baltimore blamed its economic problems on the bank’s foreclosures. (WFC) -
Bill Me Later hit with class-action lawsuit over interest rates
Posted: January 8th, 2010, 11:35am EST
Bill Me Later is facing a class-action lawsuit claiming the online sales processor skirts California consumer protection laws to hike its interest rates. -
Investors buy Austin alarm system company
Posted: January 8th, 2010, 11:04am EST
Round Rock-based residential alarm seller Protect America Inc. was sold to several investment firms and the company's founder for an undisclosed amount, according to the chief financial advisor in the deal. -
DecisionPoint advises on Edgewater Technology acquisition
Posted: January 8th, 2010, 10:58am EST
DecisionPoint International was the adviser to Edgewater Technology Inc. in its acquisition of Fullscope Inc., an Alabama-based technology-consulting firm. (EDGW) -
Two Rochester hotels going back to lender
Posted: January 8th, 2010, 10:23am EST
Sunstone Hotel Investors Inc. said it is walking away from a mortgage by Massachusetts Mutual Life Insurance Co. and 11 hotels securing that loan, including two in Minnesota: the Marriott Rochester and Kahler Inn & Suites Rochester. (SHO) -
Waukesha women's fund hits $1M goal
Posted: January 8th, 2010, 10:14am EST
The Women and Girls Fund of Waukesha County said Thursday that it has reached its multiyear endowment fund goal of raising $1 million by year-end 2009. -
Northern Pines hedge fund raises first $16.7M
Posted: January 8th, 2010, 10:09am EST
Northern Pines Capital, a newly launched hedge fund manager in Boston, kicked off its much-anticipated fundraising this week by collecting $16.7 million from six investors. -
Former PricewaterhouseCoopers exec Barber to bring Charlotte bank to Raleigh
Posted: January 8th, 2010, 9:56am EST
Jeff Barber, the former longtime manager of PricewaterhouseCoopers’ Raleigh operation, has joined the Charlotte-based investment banking firm of Fennebresque & Co. and is opening a Raleigh office for the firm. -
Athena Alpha raises $57M for new hedge fund
Posted: January 8th, 2010, 9:26am EST
Money management firm Athena Capital Advisors LLP has raised $57.6 million for a new hedge fund to be run by two of the operations senior executives. -
Konarka raises $24M in stock, warrant sale
Posted: January 8th, 2010, 8:55am EST
Konarka Technologies Inc. has raised $23.8 million in a stock and warrant sale, according to regulatory filings. -
MassMutual's $246M hotel mortgage sours
Posted: January 8th, 2010, 8:43am EST
Massachusetts Mutual Life Insurance Co.’s $246 million non-recourse loan on a group of U.S. hotels has hit a rough patch. (SHO) -
St. Louis County unveils new small business loan program
Posted: January 8th, 2010, 7:30am EST
The St. Louis County Economic Council is introducing a new small business loan program it’s calling Boost. The program, believed to be the first of its kind in the nation, will be an alternative to a popular U.S. Small Business Administration loan known as the 504 program, a loan primarily used by businesses for capital improvement investments, including real estate purchases. -
Bank stocks get boost on Wall Street
Posted: January 7th, 2010, 4:58pm EST
Banks with operations in the Dayton area saw an uptick in their stock prices today. (PNC) (KEY) (JPM) (USB) -
WaMu shareholders could get seat at bankruptcy table
Posted: January 7th, 2010, 4:27pm EST
After fighting for more than a year, Washington Mutual shareholders are close to gaining crucial representation in the bank holding company’s bankruptcy, a move that would allow them a piece of any money that is divvied up among creditors. -
Hawaii scores well for credit, insurance risk
Posted: January 7th, 2010, 4:25pm EST
Hawaii ranks among the best states when it comes to consumers managing credit and insurance risk. -
First Heritage Bank raises $3M
Posted: January 7th, 2010, 3:36pm EST
First Heritage Bank said it raised about $3 million in a sale of 2,757 shares of its stock. -
Mass. startups rack up $95M in VC for the week
Posted: January 7th, 2010, 3:15pm EST
Massachusetts companies kicked off the new year with roughly $95 million in venture capital investments this week. -
Mass. startups rack up over $100M in VC for the week
Posted: January 7th, 2010, 3:15pm EST
Massachusetts companies kicked off the new year with roughly $147 million in venture capital investments this week. -
Global Payments posts $63M Q2 profit
Posted: January 7th, 2010, 3:13pm EST
Global Payments Inc. got a boost from higher revenue in the second quarter of 2010. (GPN) -
TimeTrade lands $1.7M investment round
Posted: January 7th, 2010, 2:58pm EST
TimeTrade Systems Inc. has taken in $1.7 million in new equity, debt and warrant financing, according to a regulatory filing posted by the Securities and Exchange Commission Wednesday. -
Merriman Curhan Ford strengthens research team
Posted: January 7th, 2010, 2:05pm EST
Merriman Curhan Ford said Thursday that it brought on board two industry veterans to expand its research team. (MERR) -
Fannie Mae relaxes rules for Florida condos
Posted: January 7th, 2010, 2:00pm EST
Florida’s condominium market is getting some attention from Fannie Mae, which is granting “special approval” status to hundreds of condominium properties. -
BioCryst Pharmaceuticals had best local stock price gain in 2009
Posted: January 7th, 2010, 1:46pm EST
The first three months of 2009 were tough for the stock prices of Birmingham’s public companies, but the market rally that followed pushed most local stocks into positive territory for the year. (BAMM) (HLS) (EGN) (MPW) (RF) (VMC) -
Cyberlux ends dispute with investor
Posted: January 7th, 2010, 1:46pm EST
Cyberlux Corp. has reached a settlement with one of its backers, N.I.R. Group Ltd., in a dispute about whether the investor failed to abide by the terms of the investment agreement. -
PNC Financial Services Group pays TARP dividend to Treasury
Posted: January 7th, 2010, 1:33pm EST
PNC Financial Services Group Inc. said Thursday it paid a quarterly dividend of $95 million to the U.S. Treasury Department on the PNC shares purchased by the government through the Troubled Asset Relief Program, commonly known as TARP. (PNC) -
Carbonite lands $20M venture round
Posted: January 7th, 2010, 1:30pm EST
Carbonite Inc., a developer of data storage and management technologies, has raised another $20 million in equity financing, according to a regulatory filing posted Thursday by the Securities and Exchange Commission. -
Coastal Federal to close Charlotte branches
Posted: January 7th, 2010, 1:14pm EST
Coastal Federal Credit Union will close its two branches in Charlotte as well as its office in Concord. -
BB&T seeks foreclosure on Hollywood warehouses
Posted: January 7th, 2010, 12:55pm EST
Branch Banking and Trust Co. wants to seize a group of warehouse and industrial properties in Hollywood. -
Google ups bid for On2 Technologies
Posted: January 7th, 2010, 12:35pm EST
Google Inc. has increased its offer to buy On2 Technologies after the Halfmoon, N.Y., company failed to generate enough support from shareholders to approve the merger. -
TIB Financial gets Nasdaq warning
Posted: January 7th, 2010, 12:00pm EST
TIB Financial Corp. has fallen out of compliance with listing rules for The Nasdaq Stock Market. -
GroundedPower closes venture round
Posted: January 7th, 2010, 11:43am EST
GroundedPower Inc., a developer of energy-efficiency technologies for residential and commercial properties, has raised $918,000 in venture capital. -
State of the State: Paterson highlights ‘insurance exchange’
Posted: January 7th, 2010, 11:33am EST
New York Gov. David Paterson wants to create an “insurance exchange” that could bring in at least $7 billion in premiums and create thousands of jobs upstate. -
Coastal Federal Credit Union closing four offices
Posted: January 7th, 2010, 11:30am EST
Raleigh-based Coastal Federal Credit Union says it will close three offices in or near Charlotte and one branch in Johnston County in a move to focus its operations in the Triangle. -
Heritage Bancshares makes written agreement with regulator
Posted: January 7th, 2010, 11:23am EST
The Federal Reserve Bank of Atlanta required Heritage Bancshares Inc. to make a written agreement “to maintain financial soundness” so the company can strengthen its bank. -
MicroChips raises $16.5M venture round
Posted: January 7th, 2010, 11:15am EST
MicroChips Inc. has raised $16.5 million in venture capital to further the development of its implantable sensor system used to control the delivery of drugs. -
Dow passes 10,600 by Thursday close; PNC rises 5 percent
Posted: January 7th, 2010, 11:13am EST
Wall Street ended Thursday trading with the Dow Jones Industrial Average pushing past the 10,600 barrier. The Dow finished at 10,606.86, up 33.18 points or 0.31 percent. Nasdaq barely budged, dipping 1.04 points or 0.05 percent to 2,300.05. (PNC) (AA) (AYE) (ATI) (AEO) (BK) (CNX) (DKS) (HNZ) (KMT) (PPG) (X) (WCC) -
Ironwood closes on East Texas deal
Posted: January 7th, 2010, 11:10am EST
Ironwood Oil & Gas LLC has acquired interests in 171 wells and more than 60,000 net undeveloped acres in East Texas from a private company. -
PNC pays dividend to Treasury on TARP
Posted: January 7th, 2010, 10:58am EST
PNC Financial Services Group Inc., Pittsburgh, on Thursday said it paid a quarterly dividend of $95 million to the U.S. Treasury Department on the PNC shares purchased by the government through the Capital Purchase Program of the Troubled Asset Relief Program. (PNC) -
Halifax agrees to $3.8M buyout
Posted: January 7th, 2010, 10:05am EST
Government information technology contractor Halifax Corp., which has been struggling with declining revenue and earnings, has agreed to be acquired by Global Iron Holdings LLC, an affiliate of Global Equity Capital LLC. -
SteelCloud loses Nasdaq listing
Posted: January 7th, 2010, 9:56am EST
Software maker SteelCloud, whose stock has lost most of its value in the past two years, has been delisted from the Nasdaq stock market after failing to meet listing requirements. -
Janus names PIMCO exec Weil as new CEO
Posted: January 7th, 2010, 9:34am EST
Janus Capital Group Inc. has hired PIMCO executive Richard Weil as chief executive officer, the company said Thursday. (JNS) -
Phoenix Cos. selling PFG to Tiptree Financial
Posted: January 7th, 2010, 9:21am EST
The Phoenix Cos. Inc. said Wednesday that it has agreed to sell its private placement insurance business, PFG Holdings Inc., to Tiptree Financial Partners. (DUF) -
Dimensional Fund commences broker-agreement initiative
Posted: January 7th, 2010, 8:59am EST
Austin-based Dimensional Fund Advisors wants to solidify selling agreements with independent brokers and dealers, officials said with the naming of a former Commonwealth Financial Inc. executive to lead the program. -
TSYS partners with Degussa Bank
Posted: January 7th, 2010, 8:40am EST
TSYS reported Thursday it expanded in Germany with a multi-year payment services agreement with Degussa Bank. (TSS) -
Anpath unit signs distribution deal
Posted: January 7th, 2010, 8:26am EST
A subsidiary of Anpath Group Inc. has signed an exclusive distribution agreement for its products in South Korea. Seoul-based Clebio will distribute EnviroSystems Inc.’s disinfecting and deodorizing cleaner. -
Trustco to open 131st branch
Posted: January 7th, 2010, 8:18am EST
Trustco Bank is opening its 131st branch this month, this one in Brunswick, N.Y. -
To comply with TARP, SunTrust freezes salaries of most executives
Posted: January 6th, 2010, 7:28pm EST
SunTrust Banks Inc. froze the salaries of all but one of its senior officers to comply with pay restrictions required by participation in the Troubled Asset Relief Program, the bank said Wednesday in a regulatory filing. (STI) -
NEA raises $2.5 billion venture fund
Posted: January 6th, 2010, 7:08pm EST
New Enterprise Associates, the global venture capital firm with major offices in Menlo Park, has closed a $2.5 billion fund, the company said Wednesday. -
West Coast Bank sells foreclosed homes
Posted: January 6th, 2010, 4:51pm EST
West Coast Bank on Dec. 30 sold 69 foreclosed homes to S-Cap 09-5080 LLC. -
Alliance Bank got $5M for insurance agency
Posted: January 6th, 2010, 4:49pm EST
Alliance Bank announced Wednesday in a securities filing that it is receiving $5.025 million for the previously announced Dec. 29 sale of its insurance agency, Alliance Insurance Agency Inc. -
Dolan to head local Southwest Securities office
Posted: January 6th, 2010, 4:18pm EST
V. William “Bill” Dolan Jr. will serve as president of a new Southwest Securities FSB banking center being established in Albuquerque. (SWS) -
Finance questions delay Parcel 9 decision
Posted: January 6th, 2010, 4:17pm EST
The development of Parcel 9 in the Rose Fitzgerald Kennedy Greenway suffered another delay Wednesday when a top state transportation official sought more time to evaluate proposals before endorsing any particular one. -
Higginbotham & Associates acquires McKinney Insurance Group
Posted: January 6th, 2010, 4:14pm EST
Independent property and casualty insurance brokerage McKinney Insurance Group has been acquired by Higginbotham & Associates. -
Invesco Mortgage plans $161M offering
Posted: January 6th, 2010, 3:32pm EST
Invesco Mortgage Capital Inc. (NYSE: IVR) reported on Wednesday plans for a public offering of common stock that could be worth about $161 million. (IVR) (IVZ) -
Denver Public Schools sells $250M in construction bonds
Posted: January 6th, 2010, 3:05pm EST
Denver Public Schools on Wednesday said it has finalized the sale of $250 million in bonds, part of its $454 million construction program that Denver voters approved in 2008. -
SV Bank commits $1M to microloan firm
Posted: January 6th, 2010, 2:21pm EST
Grameen Bank could soon be lending in the Bay Area. -
WBA: Business loan demand to remain weak
Posted: January 6th, 2010, 2:18pm EST
Wisconsin bankers say that demand for business loans remains weak across the state and is expected to stay that way for at least the first half of 2010, according to a new survey. -
Mesa will stop trading common stock
Posted: January 6th, 2010, 1:19pm EST
Mesa Air Group will stop trading its common stock after receiving a delisting notice from the Nasdaq Stock Market Exchange. -
Bank of the West changes overdraft practices
Posted: January 6th, 2010, 1:18pm EST
San Francisco-based Bank of the West said Wednesday that it will help customers avoid overdraft fees. -
Arts & Science Council releases symphony grant
Posted: January 6th, 2010, 1:10pm EST
The Arts & Science Council will release the remainder of its operating grant to the Charlotte Symphony Orchestra. The release of the $375,000 was contingent on the symphony meeting its bridge funding goal of $1.77 million. -
Conterra Ultra completes stock offering
Posted: January 6th, 2010, 1:06pm EST
Conterra Ultra Broadband Holdings Inc. has completed a $25 million senior preferred stock offering led by The Goldman Sachs Group Inc. -
Massachusetts bucked 2009's national decline in clean-tech investing
Posted: January 6th, 2010, 1:05pm EST
Massachusetts cleantech companies saw a 21 percent year-over-year increase in venture capital investments in 2009, bucking a national trend that saw a decline in total outlays within the sector, according to a report released today by the Cleantech Group and Deloitte LLP. -
Comerica Bank sees California job growth in 2010
Posted: January 6th, 2010, 12:56pm EST
Comerica Bank expects California to generate job growth later this year. (CMA) -
Swank Capital launches master limited partnership index
Posted: January 6th, 2010, 12:24pm EST
Dallas investment adviser Swank Capital LLC has launched a new index fund of 30 energy-infrastructure businesses called the Cushing 30 MLP Index. -
CIB Marine Bancshares emerges from Chp. 11
Posted: January 6th, 2010, 12:01pm EST
CIB Marine Bancshares Inc. said Wednesday that it has completed its financial restructuring and emerged from a pre-packaged plan of reorganization under Chapter 11 of the U.S. bankruptcy code. -
Innovalight raises $18 million
Posted: January 6th, 2010, 11:50am EST
In its fourth round of venture funding, Innovalight Inc. raised $18 million. -
Markets mixed by Wednesday close; U.S. Steel hits new 52-week high
Posted: January 6th, 2010, 11:08am EST
Wall Street finished Wednesday with minor fluctuations. The Dow Jones Industrial Average edged up 1.66 points or 0.02 percent to 10.573.68. Nasdaq dipped 7.62 points or 0.33 percent to 2,301.09. (AA) (AYE) (ATI) (AEO) (BK) (CNX) (DKS) (FII) (HNZ) (KMT) (KOP) (PNC) (PPG) (WAB) (WCC) -
Clean Power Finance raises $6.9M
Posted: January 6th, 2010, 11:01am EST
Clean Power Finance Inc. raised $6.9 million in venture funding. (STP) (AOC) -
SunTrust sports unit hits San Diego
Posted: January 6th, 2010, 10:53am EST
Atlanta-based SunTrust Banks Inc. will open a San Diego office for its SunTrust Sports and Entertainment Specialty Group. (STI) -
First Cherokee under fed, state oversight
Posted: January 6th, 2010, 10:30am EST
First Cherokee Bancshares Inc. has been placed under a “written agreement” and is now under the regulatory oversight of the Federal Reserve Bank of Atlanta and banking commissioner of Georgia. -
CombinatoRx reassigns new CEO, COO steps down
Posted: January 6th, 2010, 10:27am EST
Drug developer CombinatoRx Inc., which completed its merger last month with Canada’s Neuromed Pharmaceuticals Inc., has already reshuffled its senior executive ranks. -
Tortoise Energy Capital expects $27.5M from sale of new shares
Posted: January 6th, 2010, 10:16am EST
Tortoise Energy Capital Corp. expects to raise about $27.5 million by selling new shares to an undisclosed institutional investor. (TYY) -
New Enterprise Associates closes $2.5B venture fund
Posted: January 6th, 2010, 9:56am EST
New Enterprise Associates Inc. has closed its thirteenth venture capital investment fund with a commitment of $2.5 billion from limited partners to invest in information technology, energy technology and health care companies at various stages of operation. -
Court grants Advanta freedom from tennis sponsorships
Posted: January 6th, 2010, 9:34am EST
Advanta Corp. has been given permission to terminate two tennis sponsorships that would have cost it another $6 million through 2011. -
NEA closes 13th fund with $2.5B
Posted: January 6th, 2010, 9:08am EST
Venture capital firm New Enterprise Associates Inc. announced the close of its 13th fund at nearly $2.5 billion. -
Chautauqua hires former Templeton manager as COO
Posted: January 6th, 2010, 8:56am EST
Chautauqua Capital Management has hired John Lynch, formerly a portfolio manager for Franklin Templeton Investments, as chief operating officer. -
Invesco names U.S. sales chief
Posted: January 6th, 2010, 8:46am EST
Global investment management company Invesco Ltd. hired Eric P. Johnson as head of U.S. sales, client service and consultant relations for Invesco Institutional. (IVZ) -
DynaVox files IPO
Posted: January 6th, 2010, 8:00am EST
South Side-based DynaVox Inc. is planning to sell up to $125 million in common stock as part of a planned initial public offering, according to a filing Tuesday with the Securities and Exchange Commission. -
Cisco was top acquirer of past decade
Posted: January 6th, 2010, 7:23am EST
Cisco Systems Inc. bought more venture-backed companies than anybody else in the past decade, according to a report released on Tuesday. (CSCO) (IBM) (ORCL) (EMC) (GOOG) (TRI) (MSFT) (BRCM) (SYMC) (HPQ) (JAVA) -
UBS whistle-blower fights back
Posted: January 5th, 2010, 5:28pm EST
Former UBS banker Bradley Birkenfeld is seeking a U.S. Department of Justice review of his 40-month sentence in a widely publicized case involving client assets hidden in Switzerland. -
Loan fails on large apartment complex
Posted: January 5th, 2010, 4:29pm EST
The Falcon Lake apartment complex on the Northside has gone back to the lender in a deed in lieu of foreclosure for $23 million. -
Aviva Investors to buy River Road Asset Management
Posted: January 5th, 2010, 4:02pm EST
A United Kingdom-based insurance conglomerate has agreed to buy out a Louisville-based institutional-management firm. -
Riverside expands fund size — again
Posted: January 5th, 2010, 3:50pm EST
Riverside Partners has announced the close of its ever-expanding fourth fund at $406 million — just over the $400 million mark it set in filings first reported in the Boston Business Journal last month. -
Five Star Bancorp stock offering raises $8M
Posted: January 5th, 2010, 3:44pm EST
Five Star Bancorp raised $8 million in a common stock offering with existing shareholders completed Dec. 30. -
Morris, Manning & Martin reps SORL
Posted: January 5th, 2010, 2:43pm EST
Morris, Manning & Martin LLP will represent SORL Auto Parts Inc. in a public offering of up to $80 million in securities, which could include common stock, preferred stock, warrants and/or debt securities. (SORL) -
Forbes: Bank of Hawaii nation's healthiest
Posted: January 5th, 2010, 2:31pm EST
Bank of Hawaii is at the top of the Forbes magazine list of the nation’s healthiest banks. (BOH) (CPF) -
Candela acquisition officially closes
Posted: January 5th, 2010, 1:55pm EST
Cosmetic laser maker Candela Corp. said Tuesday it’s acquisition by Israel-based Syneron Medical Ltd. is complete. -
PSCU tops 1 billion in transaction volume
Posted: January 5th, 2010, 1:48pm EST
PSCU Financial Services said it reached 1.1 billion in credit and debt card transactions in 2009. -
SWBC taps Seaman to lead business development
Posted: January 5th, 2010, 1:40pm EST
SWBC has hired a former executive with the San Antonio Hispanic Chamber of Commerce, in part, to help broaden the financial services company’s presence in the Hispanic market. -
Guidry joins PKF national board
Posted: January 5th, 2010, 1:38pm EST
Kenneth Guidry, president of Pannell Kerr Forster of Texas PC, has been appointed to the board of directors of PKF North America. -
Park, AEP execs keep Fed board seats
Posted: January 5th, 2010, 1:33pm EST
Two Central Ohio executives have been re-elected to the board at the Federal Reserve Bank of Cleveland. (AEP) -
Shareholder group fights SSTI acquisition
Posted: January 5th, 2010, 1:16pm EST
An activist shareholder group is opposing the acquisition of Silicon Storage Technology Inc. by Technology Resource Holdings Inc., saying the proposed deal represents a significant discount to the company’s value at a time when the semiconductor industry is emerging from a multi-year recession. (SSTI) (TMTA) -
Island Oasis downs $10M in private equity
Posted: January 5th, 2010, 1:02pm EST
Do you like piña coladas? How many do you think you could buy with $10 million? -
Cleveland Fed reappoints Wadhwani, Weir, Paul
Posted: January 5th, 2010, 12:48pm EST
The Federal Reserve Bank of Cleveland on Tuesday announced that Sunil T. Wadhwani was reappointed chairman of the board of its Pittsburgh branch for 2010. He has held that post since 2008. Wadhwani is co-chairman of iGATE Corp., Pittsburgh. -
Vanguard settles discrimination case
Posted: January 5th, 2010, 12:38pm EST
The U.S. Equal Employment Opportunity Commission (EEOC) said Tuesday that it settled a discrimination case with Vanguard Group for $300,000 on behalf of a qualified black applicant who the federal agency says was refused hire for a financial planning manager position because of her race, despite substantial work experience. -
Paulson links with East Coast firm
Posted: January 5th, 2010, 12:05pm EST
Paulson Investment Co. has affiliated with an East Coast wealth management company under an alliance with Acumen Investment Services, it announced Tuesday. -
MPS to settle shareholder suits over sale to Adecco
Posted: January 5th, 2010, 11:29am EST
MPS Group Inc. said Tuesday it agreed to settle two shareholder class-action lawsuits related to its proposed sale to Swiss staffing firm Adecco Inc. -
Voyageur changes name to RBC Global Asset Management
Posted: January 5th, 2010, 11:13am EST
Voyageur Asset Management Inc. has changed its name to RBC Global Asset Management (U.S.) Inc., a moniker that better reflects ties to its parent company, Royal Bank of Canada (RBC). -
Nordic Windpower raises $38M
Posted: January 5th, 2010, 11:11am EST
Turbine maker Nordic Windpower raised $38 million in its third round of venture funding. -
German investor buys foreclosed hotel note for half off
Posted: January 5th, 2010, 10:55am EST
A German investor bought the distressed note on a Lauderdale-by-the-Sea hotel and apartment property for less than half of the bank’s foreclosure judgment. -
The Echo Nest raises $1.3M venture round
Posted: January 5th, 2010, 10:48am EST
The Echo Nest Corp., a developer of so-called music-intelligence technologies, has raised $1.3 million in venture funding. -
Amcore to sell 12 Illinois branches
Posted: January 5th, 2010, 10:21am EST
Amcore Bank NA, the Rockford, Ill.-based bank that recently sold four Wisconsin branches to help shore up its capital position, said Tuesday that it agreed to sell a dozen Illinois branches and two stand-alone drive-ups to Midland States Bank of Effingham, Ill. (AMFI) -
Report: Quattro Wireless to be acquired by Apple
Posted: January 5th, 2010, 10:17am EST
Quattro Wireless Inc., a provider of mobile-advertising services and technologies, will be acquired by Apple Inc. for $275 million, according to an online posting by the Wall Street Journal. -
United Guaranty sells Canadian unit
Posted: January 5th, 2010, 9:52am EST
A private investor group has entered into an agreement to purchase AIG United Guaranty Mortgage Insurance Co. Canada, the Canadian unit of the Greensboro-based mortgage insurer. -
Huntington adds emerging markets fund
Posted: January 5th, 2010, 9:38am EST
Huntington Bancshares Inc.’s money-management arm has added a mutual fund aimed at stocks in emerging markets. -
Tower Bancorp to buy piece of merger partner First Chester County’s loan portfolio
Posted: January 5th, 2010, 9:00am EST
The banking subsidiary of Tower Bancorp, which last week agreed to acquire First Chester County Corp., said it has agreed to buy $52.5 million in First Chester’s residential real estate and commercial loan participations at a 1.5 percent discount. The transaction allows First Chester to satisfy minimum regulatory capital requirements established by the Office of the Comptroller of the Currency. -
IRS to regulate tax firms
Posted: January 5th, 2010, 8:49am EST
The Internal Revenue Service plans to regulate the nation’s tax-preparation firms, including H&R Block Inc., Jackson Hewitt Tax Service Inc. and mom-and-pop shops. -
Intuity Medical raises $64 million
Posted: January 5th, 2010, 8:29am EST
Diabetes test maker Intuity Medical Inc. raised $64 million in its fourth round of venture funding. -
BATS Exchange market share declines
Posted: January 5th, 2010, 8:07am EST
BATS Global Markets said Monday that its BATS Exchange had a 9.3 percent matched U.S. market share in December, down from 9.6 percent in November, but that its BATS Europe subsidiary saw its market share grow for the fourth straight month to 4 percent. -
Rock Hill broker pleads guilty
Posted: January 5th, 2010, 8:01am EST
A Rock Hill broker accused of operating a Ponzi scheme has pleaded guilty to one count of mail fraud. -
$100 million recapitalization puts PathGroup Inc. in buy mode
Posted: January 5th, 2010, 8:01am EST
Brentwood-based PathGroup Inc. sent a clear message today that it is in acquisition mode, announcing a leveraged recapitalization that raised more than $100 million in new capital for the pathology services company. -
Survey: M&A market seen heating up
Posted: January 4th, 2010, 11:01pm EST
The mergers and acquisition market might be poised for increased activity during the first half of 2010, according to the year-end 2009 DealMakers Survey by the Association for Corporate Growth and Thomson Reuters. -
Sterling sells energy firm for $223M
Posted: January 4th, 2010, 6:15pm EST
Sterling Partners, a private equity firm headquartered in Baltimore and Chicago, has sold Liberty Propane to Inergy L.P., for $223 million, including an estimated assumed tax liability. The companies issued a press release Monday that was included as part of Inergy’s filing with the Securities and Exchange Commission. -
Regal Financial Bank CEO leaves
Posted: January 4th, 2010, 4:53pm EST
The longtime chief executive and president of Regal Financial Bank has left the institution, a spokesman for the bank confirmed Monday. -
Bank of Hawaii promotes Derek Norris
Posted: January 4th, 2010, 4:36pm EST
Derek J. Norris has been promoted to senior executive vice president at Bank of Hawaii, in charge of its internal financial reports, corporate taxation and overall budget. -
Arlington Memorial Hospital to pay $1M to government to solve Medicare case
Posted: January 4th, 2010, 4:25pm EST
Arlington Memorial Hospital will pay $990,500 to the U.S. government to settle a suit alleging that the hospital violated the False Claims Act by sending improper claims for payment to the Medicare program, according to the office of U.S. Attorney James T. Jacks. -
Wall Street starts new year with a bang
Posted: January 4th, 2010, 4:00pm EST
The trading year started off with a bang Monday, as the Dow Jones Industrial Average gained more than 150 points. (SR) (KEY) (AKS) (RBN) (FITB) (RSC) (JPM) (USB) (PNC) (TDC) (THO) (DPL) -
Lincoln National completes sale of Delaware Investments to Macquarie
Posted: January 4th, 2010, 3:40pm EST
Lincoln National Corp. said Monday that it has completed its sale of investment management subsidiary Delaware Investments to Macquarie Group of Australia for $451.8 million in cash. (LNC) (LNC) -
Florida Bank of Commerce merges operations
Posted: January 4th, 2010, 3:31pm EST
FBC Bancorp Inc. announced it would merge operations of its Orlando-based Florida Bank of Commerce with Prime Bank, its Brevard County subsidiary. -
H&R Block agrees to refund for Express IRA customers
Posted: January 4th, 2010, 2:47pm EST
H&R Block Inc. agreed to a settlement that requires it to refund between $11.4 million and $19.4 million in fees charged to its Express IRA customers throughout the country. -
Bills' Lynch hit with lawsuit
Posted: January 4th, 2010, 2:02pm EST
The attorney representing the woman struck by Buffalo Bills Running Back Marshawn Lynch’s car in 2008 says his client suffered “injuries with a component of permancy,” as a result of the accident. -
Creganna acquires California's Tactx Medical
Posted: January 4th, 2010, 1:59pm EST
Creganna, a supplier of technology and services to medical device companies, will acquire California-based Avalon Medical Services, which also does business as Tactx Medical Inc. -
Crawford & Co. picks Ogburn as chairman
Posted: January 4th, 2010, 1:47pm EST
Crawford & Co. on Monday named boardmember Charles H. Ogburn non-executive chairman of the board of directors. (CRD) -
Cuomo: H&R Block to refund customers more than $11M
Posted: January 4th, 2010, 1:34pm EST
H&R Block will refund customers more than $11 million in fees it charged low- and middle-income customers, according to a settlement reached with New York Attorney General Andrew Cuomo. (HRB) -
U.S. Sugar settlement approved
Posted: January 4th, 2010, 1:33pm EST
A federal judge has approved a settlement in a class action lawsuit by shareholders and members of U.S. Sugar Corp.’s Employee Stock Ownership Plan for an $8.4 million payment. -
Premium Financing Specialists buys Universal Premium Acceptance
Posted: January 4th, 2010, 1:22pm EST
Premium Financing Specialists Inc. announced Monday that it has closed on the purchase of cross-town colleague Universal Premium Acceptance Corp. -
Wells Fargo offers reward for robber’s arrest
Posted: January 4th, 2010, 12:18pm EST
Wells Fargo & Co. is offering up to $5,000 for original information leading to the identification, arrest and conviction of a renegade robber responsible for nine crimes in Mesa, Queen Creek, Phoenix and Scottsdale. (WFC) (JPM) -
Report: Commercial real estate market decline will slow in 2010
Posted: January 4th, 2010, 11:43am EST
The commercial real estate market will continue to get worse, only more slowly in 2010. -
First Service joins Marine Credit Union
Posted: January 4th, 2010, 11:26am EST
First Service Credit Union of Milwaukee said it has merged into the much larger Marine Credit Union of Fond du Lac. -
Markets off to strong start Monday
Posted: January 4th, 2010, 11:16am EST
Wall Street got the week and the new year off to a strong start. The Dow Jones Industrial Average shot up 155.91 points or 1.50 percent to 10,583.96 by the end of trading Monday. Nasdaq packed on 39.27 points or 1.73 percent to reach 2,308.42. (CNX) (X) (AA) (AYE) (ATI) (AEO) (BK) (DKS) (FII) (HNZ) (KMT) (KOP) (PNC) (PPG) (WAB) (WCC) -
MIT on track despite $1.8B investment loss
Posted: January 4th, 2010, 11:06am EST
Net endowment assets at Massachusetts Institute of Technology sank 20 percent to $8.15 billion in fiscal 2009, but the school is primed for major expansion over the next two years after securing $610 million of tax-exempt financing despite turbulent capital markets. -
Regulators give Sun American deadline to raise capital or sell
Posted: January 4th, 2010, 10:57am EST
Federal regulators have set the clock ticking for Boca Raton-based Sun American Bank to cure its “significantly undercapitalized” status. -
Charter registers $2.7B in stock
Posted: January 4th, 2010, 10:31am EST
Charter Communications Inc., which emerged from bankruptcy in November, has filed to register nearly 78 million shares of stock worth up to $2.7 billion. -
Butler Animal wraps deal to sell majority stake
Posted: January 4th, 2010, 10:28am EST
Dublin’s Butler Animal Health Supply has begun the year with a new name and majority owner. (HSIC) -
VentureSource: Busy Q4 heralds strong year for M&A
Posted: January 4th, 2010, 10:26am EST
Corporate acquirers snapped up 86 private U.S. venture capital-backed companies in the fourth quarter, setting the stage for an active year in 2010, according to industry tracker Dow Jones VentureSource. -
Dimock foundation's operating loss widens, investments stung
Posted: January 4th, 2010, 10:15am EST
Dimock Community Foundation Inc., a collection of community-based health care and substance abuse operations targeting some of Massachusetts’ poorest communities, saw its operating loss widen in fiscal 2009 amid steep declines within its investment portfolio. -
Guaranty Bank closing creates 270 more unemployed in Travis County
Posted: January 4th, 2010, 10:13am EST
About 270 Travis County workers are now unemployed following Guaranty Bank's forced closure, according to a layoffs report this morning. -
Amcom lands ‘significant’ investment from Norwest, Split Rock
Posted: January 4th, 2010, 9:59am EST
Amcom Software Inc. said Monday it’s landed a “significant” amount of funding from two Twin Cities investors, Split Rock Partners and Norwest Equity Partners. -
Idearc leaves Ch. 11 with a new name
Posted: January 4th, 2010, 9:46am EST
Phone book directory publisher Idearc Inc. has emerged from Chapter 11 bankruptcy with a new name and ticker symbol, the company announced Monday. -
Radian completes Asset Assurance securities deal
Posted: January 4th, 2010, 9:39am EST
Mortgage insurer Radian Group said Monday that it completed two of three offers to buy securities issued by the three custodial trusts related to the capital program of its principal financial guaranty subsidiary, Radian Asset Assurance. (RDN) -
Carr Riggs grows with acquisition of Roth Murphy Sanford LLP
Posted: January 4th, 2010, 9:27am EST
Accounting firm Carr Riggs & Ingram LLC is expanding. It is merging with Roth Murphy Sanford LLP, a CPA firm based in New Orleans. -
Main Street America buys CAIC surety division
Posted: January 4th, 2010, 9:21am EST
The Main Street America Group has expanded its Texas operations with the purchase of CAIC Holding Co.’s surety division. -
First Community Bank launches public offering
Posted: January 4th, 2010, 8:58am EST
First Community Bank Corporation of America expects to raise as much as $18.9 million in a public offering. (FCFL) -
Towers Watson completes merger
Posted: January 4th, 2010, 8:33am EST
Watson Wyatt Worldwide Inc. has completed its merger with Towers, Perrin, Forster & Crosby Inc. to form Towers Watson, the company announced Jan. 3. -
Memphis sues Wells Fargo over lending
Posted: January 4th, 2010, 8:09am EST
The city of Memphis and Shelby County, Tenn., are suing Wells Fargo & Co. under the Fair Housing Act, accusing the bank of “unlawful, irresponsible, unfair, deceptive and discriminatory mortgage-lending practices” in that market. (WFC) -
More venture-backed paydays seen for 2010
Posted: January 4th, 2010, 7:35am EST
An increase in IPO filings and mergers and acquisitions in the fourth quarter of 2009 has set the stage for a stronger 2010 for venture-backed company exits, according to a report on Monday. -
Prudential sells Wachovia brokerage stake
Posted: January 4th, 2010, 7:31am EST
Prudential Financial Inc. has completed the sale of its minority stake in Wachovia Securities Financial Holdings to Wells Fargo & Co. for $4.5 billion in cash. (PRU) (WFC) -
Dismal financials for Golden Leaf
Posted: January 3rd, 2010, 11:00pm EST
RALEIGH – The cost of a major expansion at the North Carolina Global TransPark and investment losses totaling nearly $142 million sent financial indicators southward at the Rocky Mount-based Golden Leaf Foundation in fiscal 2009. -
Patriot seeks OK to own stake in Square 1 Bank
Posted: January 3rd, 2010, 11:00pm EST
RALEIGH – The Philadelphia private equity group that agreed to buy shares in Raleigh’s Capital Bank is also seeking approval from regulators to purchase a nearly 20 percent stake in Square 1, a Durham-based venture bank. -
Struggling banks will need to raise more cash in 2010
Posted: January 3rd, 2010, 11:00pm EST
Oregon’s 32 state-chartered banks face major challenges as they enter 2010. -
Boca company plans purchase, new strategy for Panhandle bank
Posted: January 3rd, 2010, 11:00pm EST
A Boca Raton-based company associated with a consumer and health care lender plans to buy a struggling bank in the Florida Panhandle and convert it into a national business bank. -
Bank takes $3M more from feds
Posted: January 3rd, 2010, 11:00pm EST
OXFORD – Union Bank & Trust Co. has joined a short list of banks that are receiving a second dose of capital – $3 million this go-round – under the U.S. Treasury’s Troubled Asset Relief Program. -
Credit unions, banks spar over new lending plan
Posted: January 3rd, 2010, 11:00pm EST
A move to let credit unions more than double their business lending has angered the banking community. -
Wright-Patt to dole out $4 million to members
Posted: January 3rd, 2010, 11:00pm EST
In a year that has seen more than 130 bank failures, a local credit union is having one of its best years ever. -
Cascade Bancorp CEO Moss says bank will find capital elsewhere
Posted: January 3rd, 2010, 11:00pm EST
After halting plans to raise at least $85 million through a public stock sale, Cascade Bancorp is under a tight deadline to find new capital. -
Experts say small banks lack loan workout pros
Posted: January 3rd, 2010, 11:00pm EST
The residential and commercial real estate crises that have rocked Georgia banks have revealed a talent short-coming in many community lenders — the ability to work out bad loans. -
RockBridge failure brings 2009’s total to 25
Posted: January 3rd, 2010, 11:00pm EST
State and federal regulators seized RockBridge Commercial Bank Dec. 18, closing the bank following a third quarter that saw the quality of its assets and its capital base suffer a meteoric crash. -
UMB, First National profit from Illinois bank’s demise
Posted: January 3rd, 2010, 11:00pm EST
St. Louis banks that provide banking services for smaller banks are seeing an influx of business as a result of the Federal Deposit Insurance Corp.’s takeover Dec. 18 of the Independent Bankers’ Bank in Springfield, Ill. -
West Georgia bank to raise $75M to $120M
Posted: January 3rd, 2010, 11:00pm EST
One West Georgia bank is gearing up to re-enter the failed bank sweepstakes with a plan to supercharge its capital base. -
Spotlight: Banks and merchants embrace Bling’s RFID simple tag technology
Posted: January 3rd, 2010, 11:00pm EST
Wenceslao Casares, a veteran entrepreneur who launched and later sold Argentina’s first Internet service provider, Internet Argentina S.A., founded Bling Nation Ltd. to facilitate payments on a local level. Casares invested $5 million in his businesses and launched the company in late 2008. -
Banking industry faces ‘creative destruction’
Posted: January 3rd, 2010, 11:00pm EST
Bankers anticipate that 2010 will be another historic year for their industry as bank failures rise and weaker consumers take a toll on the economy and bank profits. -
Lone Star Bank put on report for missing TARP payments
Posted: January 3rd, 2010, 11:00pm EST
Houston-based Lone Star Bank appears on a list of nine banks nationwide that reportedly have failed to make quarterly dividend payments required as part of the U.S. Department of the Treasury’s Troubled Asset Relief Program. -
Banks lower rates on CDs, deposits
Posted: January 3rd, 2010, 11:00pm EST
Howard Bank reduced the rate on a 13-month certificate of deposit in the past few months to 1.5 percent, down from 2 percent. -
Scrutiny of Washington state banks keeps rising
Posted: January 3rd, 2010, 11:00pm EST
Patrick Redmond, the chief executive of Viking Bank, recently had the challenging job of telling his staff and customers that federal and state regulators had ordered a turnaround plan at the Seattle-based institution in large part because of its bad loans. -
$125 million infusion for SBA could encourage bank lending
Posted: January 3rd, 2010, 11:00pm EST
With a rough and tumble 2009 under small-business belts, economists and analysts say improvement next year will remain slow. -
Texas Capital Bank shifts its leadership to prepare for expected growth
Posted: January 3rd, 2010, 11:00pm EST
Promotions made at the local operations of Texas Capital Bank may signal additional growth for the bank. (TCBI) -
Congress restores incentives to make SBA loans more attractive
Posted: January 3rd, 2010, 11:00pm EST
Congress gave a Christmas present to small firms looking for capital: It restored incentives that made Small Business Administration loans more attractive for borrowers and lenders. -
Venture investments could rebound slightly in 2011
Posted: January 3rd, 2010, 11:00pm EST
The venture capital industry had a tough year in 2009, but the worst might be over. -
Old Southern Bank seeking fresh capital infusion
Posted: January 3rd, 2010, 11:00pm EST
Old Southern Bank’s plan to sell its bad loans to a specially created company has fallen apart, forcing it to explore alternatives as it scrambles to raise capital.