U.S. proposes new, tougher rules for big banks
BY: Associated Press
POSTED: December 20, 2011
Tags: balance sheet, Banks, cash, citigroup, federal reserve, financial companies, financial crisis, goldman sachs, JPMorgan Chase, loans, regulations
NEW YORK — The Federal Reserve on Tuesday said the largest U.S. banks and financial companies should hold extra cash on their balance sheets to cushion themselves against financial crises.
The proposal by the chief U.S. banking regulator will affect banks with over $50 billion in assets. There are even stricter [...]
Bank of America sells 400M shares, $2.3B in debt
BY: Associated Press
POSTED: December 16, 2011
Tags: Bank of America, bank of america corp, debt, Economy, federal reserve, shares, sold, Stocks
NEW YORK — In an effort to strengthen its balance sheet, Bank of America in the first two weeks of December sold 400 million common shares and issued $2.3 billion in debt to replace $5.8 billion of preferred stock.
The preferred stock was more expensive for Bank of America Corp.’s balance sheet because it paid investors [...]
Baltimore County expands small business loan fund
BY: Daily Record Staff
POSTED: December 7, 2011
Tags: Baltimore County, Baltimore County Executive Kevin Kamenetz, baltimore county small business loan partnership, CFG Community Bank, financial institutions, kevin kamenetz, Northwest Savings Bank, peoples bank, sandy spring bank, td bank
Baltimore County Executive Kevin Kamenetz announced on Wednesday that five more banks have joined the Baltimore County Small Business Loan Partnership, bringing total commitments to the loan fund to $12,350,000 from 20 financial institutions.
CFG Community Bank, Sandy Spring Bank, Peoples Bank, Northwest Savings Bank and TD Bank have joined the public-private partnership between the Baltimore [...]
Central banks’ actions lift world markets
BY: Associated Press
POSTED: November 30, 2011
Tags: central banks, China, dow jones, European Central Bank, federal reserve, france, germany, increase, interest rates, stock market, united states, world markets
FRANKFURT, Germany — The central banks of the wealthiest countries, trying to prevent a debt crisis in Europe from exploding into a global panic, swept in Wednesday to shore up the world financial system by making it easier for banks to borrow American dollars.
Stock markets around the world roared their approval. The Dow Jones industrial [...]
Eagle Bank drops bid for Alliance 
BY: Ben Mook
POSTED: November 28, 2011
Tags: alliance bankshares, bethesda, ceo ronald d. paul, chantilly, Eagle Bancorp, eagle bank, merrifield, Montgomery County, northern virginia, reston, william e. doyle jr
Citing “irreconcilable differences,” Eagle Bancorp of Bethesda, the parent company of Eagle Bank, said Monday that it is ending its $31.2 million acquisition of Alliance Bankshares Corp. of Chantilly, Va.,
The deal, announced in July, would have had Eagle Bank as the surviving company, and given the Montgomery County-based bank Alliance Bank’s six branches in Northern [...]
Harbor Bank wins $500K from Treasury Department
BY: Mark Miller
POSTED: November 24, 2011
Tags: award, Bank Enterprise Award from the Community Development Financial Institutions Fund, cash prize, CEO, Harbor Bank, Harbor Bank of Maryland, Harbor Bankshares Corp., Joseph Haskins, treasury department
The chief executive officer of a Baltimore bank stressed the importance of his institution’s work in low- and middle-income areas Wednesday after a division of the U.S. Treasury Department awarded the bank a cash prize for its efforts.
The Harbor Bank of Maryland, a large community bank based in Baltimore, received the Bank Enterprise Award [...]
FDIC: Bank earnings hit highest level in 4 years
BY: Associated Press
POSTED: November 22, 2011
Tags: assets, Bank of America, Banks, citigroup, credit card, earnings, Federal Deposit Insurance Corp., JPMorgan Chase, loans, martin gruenberg, revenue, wells fargo
WASHINGTON — Bank earnings rose over the summer to their highest level in more than four years, while the number of troubled banks fell for the second straight quarter, federal regulators reported Tuesday.
The Federal Deposit Insurance Corp. said the banking industry earned $35.3 billion in the third quarter. That’s up [...]
Ex-UBS banker gets 5 years’ probation in tax case
BY: Associated Press
POSTED: November 18, 2011
Tags: IRS, Renzo Gadola, swiss, switzerland, tax evasion, ubs
MIAMI — A former banker at Switzerland’s UBS AG has been sentenced to five years’ probation and no jail time for tax fraud because of his assistance in uncovering other tax evasion cases.
A federal judge in Miami agreed Friday that 45-year-old Renzo Gadola deserved leniency. He pleaded guilty in 2010 to tax fraud conspiracy and [...]
Collins has helped M&T to grow in Maryland and beyond
BY: Ben Mook
POSTED: November 17, 2011
Tags: Atwood “Woody” Collins III, Baltimore, Bank of America, Constellation Energy Group, COO, exelon, growth, m&t bank corp., Manufacturers and Traders Trust Co., maryland, woody collins
With its name on Baltimore’s professional football stadium and a network of more than 200 branches in Maryland alone, it’s hard to believe that for its first 120 years in business Manufacturers and Traders Trust Co. — now known as M&T Bank Corp. — did not stray far from its home base.
The bank did not [...]
Banks beef up wealth management services
BY: Amy Burroughs
POSTED: November 17, 2011
Tags: Baltimore, Bank of America, Banks, industry, M&T Bank, maryland, PNC, wachovia, wealth management services, Wells Fargo Private Bank
While some quarters of the banking industry still struggle, others have their eye on a silver lining: wealth management.
Attracted by the prospect of high profits and aging baby boomers preparing to pass on their wealth to the next generation, banks are seeing increased opportunity — and heated competition — in high and ultra-high net worth [...]
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