Total : 27 View more »
U.S. authorities seized nine failed banks Friday, the most in a single day since the financial crisis began and the latest sign that many banks are still crippled by bad loans. U.S. Bancorp agreed to buy the banks, which include California National.
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The nine banks that are part of the acquisition are BankUSA; California National Bank; Citizens National Bank; Madisonville State Bank; North Houston Bank; Pacific National Bank; Park National Bank; San Diego National Bank; and Community Bank of Lemont. Los Angeles-based California National Bank
http://www.themoneytimes.com/featured/20091031/9-u-s-banks-seized-regulators-id-1089410.html
U.S. authorities seized nine failed banks on Friday, the most in a single day since the financial crisis began and the latest stark sign that substantial parts of the nation's banking industry are being crippled by bad loans.
Total : 28 View more »
Nov 17, 2009 (M2 PRESSWIRE via COMTEX) --
Picksthatmove.com Alerts include U.S. Bancorp (NYSE: USB); Entergy Corporation (NYSE: ETR); Hill International (NYSE:HIL); Westwood Holdings Group, Inc. (NYSE: WHG); Nordic American and Eaton Vance Corp. (NYSE: EV)
-- November 17, 2009 U.S. Bancorp (NYSE: USB) at $23.26 on a volume of 5.69M shares
In a press release on November 17, Elavon Acquires Deal with Hard Rock Cafe Brand
Five Year Agreement Spans Across North America
ATLANTA, Nov 17, 2009 Elavon, a wholly owned subsidiary of U.S. Bancorp (NYSE: USB) and a leading global acquirer announced today that the brand has signed a five year agreement with Hard Rock International to provide service to all of their cafe and retail locations across the U.S., Canada and Puerto Rico.
Elavon's solution provides a single source for credit and debit payments, from authorization to funding, and streamlines payment security, industry compliance, financial reporting and reconciliation and support for Hard Rock International's more than 96 merchant accounts in the brand's cafes and Rock Shops across North America.
About U.S. Bancorp
U.S. Bancorp operates as a financial holding company and a bank holding company. U.S. Bancorp provides a range of financial services, including lending and depository services, cash management, foreign exchange, and trust and investment management services. It also engages in credit card services, merchant and Automated Teller Machine (ATM) processing, mortgage banking, insurance, brokerage and leasing. U.S. Bancorp's banking subsidiaries are engaged in the general banking business, principally in domestic markets. The subsidiaries provide a range of products and services to individuals, businesses, institutional organizations, governmental entities and other financial institutions. The Company operates in five segments: Wholesale Banking, Consumer Banking, Wealth Management & Securities Services, Payment Services, and Treasury and Corporate Support. On November 21, 2008, the Company acquired the banking operations of Downey Savings & Loan Association, F.A. and PFF Bank & Trust.
-- November 17, 2009 Entergy Corporation (NYSE: ETR) trading at $79.44 on a volume of 187,349 shares
In a press release on November 17, Entergy Charitable Foundation Tops $3.7 Million in Grants for 2009
NEW ORLEANS, Nov 17, 2009 The Entergy Charitable Foundation has awarded approximately $1 million in grants to nonprofit groups in states served by Entergy businesses, bringing to more than $3.7 million the total given during 2009. One of the primary grants is a $200,000 gift to help the Volunteers of America of Greater New Orleans' housing subsidiary build 315 affordable housing units. The group's Renaissance Neighborhood Development Corporation is working on Phase 3 of its program, which includes the group's Chateau Carre Apartments, New Covington, 1770 Tchoupitoulas, and Gentilly Home Ownership projects.
About Entergy Corporation
Entergy Corporation (NYSE: ETR) is an integrated energy company engaged primarily in electric power production and retail distribution operations. Entergy owns and operates power plants with approximately 30,000 megawatts of electric generating capacity, and it is the second-largest nuclear generator in the United States. Entergy delivers electricity to 2.7 million utility customers in Arkansas, Louisiana, Mississippi and Texas. Entergy has annual revenues of more than $13 billion and approximately 14,700 employees.
-- November 17, 2009 Hill International (NYSE:HIL) trading at $7.11 on a volume of 20,390 shares.
In a press release out on November 17, Hill International Honored as the Sixth Fastest-Growing Company in New Jersey
MARLTON, N.J., Nov 17, 2009 Hill International (NYSE:HIL), the global leader in managing construction risk, announced today that it has been recognized by NJBIZ magazine as the sixth fastest-growing company headquartered in New Jersey. Hill received its award at the magazine's "New Jersey's Fifty Fastest Growing Companies 2009" awards dinner held at The Palace at Somerset Park on November 16, 2009. The companies were ranked based upon both dollar growth and percentage growth in revenues from 2005 through 2008.
About Hill International
Hill International, with 2,300 employees in 80 offices worldwide, provides program management, project management, construction management and construction claims and consulting services. Engineering News-Record magazine recently ranked Hill as the 8th largest construction management firm in the United States. For more information on Hill, please visit our website at www.hillintl.com.
-- November 17, 2009 Westwood Holdings Group, Inc. (NYSE: WHG) last at $39.02 a volume of 800 shares
In a press release out on November 17, Westwood Completes Acquisition of $52 Million in Mutual Fund Assets
WHG Funds Now Exceed $500 Million in Assets Under Management
DALLAS, Nov 17, 2009 Westwood Holdings Group, Inc. (NYSE: WHG) today announced the completion of the reorganization of the Philadelphia Fund (PHILX) into the WHG LargeCap Value Fund (WHGLX). The shareholders of the Philadelphia Fund approved the reorganization at a meeting on November 6, 2009. As of November 13, 2009, the Philadelphia Fund and the WHG LargeCap Value Fund had assets of approximately $52 million and $139 million, respectively.
About Westwood
Westwood Holdings Group, Inc. manages investment assets and provides services for its clients through two subsidiaries, Westwood Management Corp. and Westwood Trust. Westwood Management Corp. is a registered investment advisor and provides investment advisory services to corporate and public retirement plans, endowments, foundations, the WHG Funds, other mutual funds and clients of Westwood Trust. Westwood Trust provides trust services and participation in common trust funds that it sponsors to institutions and high net worth individuals. Westwood Holdings Group, Inc. trades on the New York Stock Exchange under the symbol "WHG."
-- November 17, 2009 Eaton Vance Corp. (NYSE: EV) last at $30.16 on a volume of 452,561 shares
In a press release out on November 17, Eaton Vance Launches Build America Bond Fund
First Actively Managed Mutual Fund to Invest in Build America Bonds
BOSTON, Nov 17, 2009 Eaton Vance Management, a subsidiary of Eaton Vance Corp. (NYSE: EV), announced today the launch of Eaton Vance Build America Bond Fund (the "Fund"), America's first actively managed mutual fund designed for investment in taxable municipal obligations issued under the American Recovery & Reinvestment Act of 2009 ("Build America Bonds"), landmark legislation enacted to provide sweeping stimulus for the U.S. economy.
About Eaton Vance Corp
Eaton Vance Corp. is engaged in managing investment funds and providing investment management and counseling services to high-net-worth individuals and institutions. The Company's product line offers fund shareholders, retail managed account investors, institutional investors and high-net-worth clients a range of products and services designed and managed to generate attractive risk-adjusted returns over the long term. The Company conducts the investment management business through four wholly owned affiliates, Eaton Vance Management, Boston Management and Research, Eaton Vance Investment Counsel and Eaton Vance Trust Company, and four other consolidated subsidiaries, Atlanta Capital Management Company, LLC, Fox Asset Management LLC, Parametric Portfolio Associates LLC and Parametric Risk Advisors LLC. In December 2008, Eaton Vance Corp.'s wholly owned subsidiary, Eaton Vance Management, acquired the Tax Advantaged Bond Strategies business of M.D. Sass Investors Services.
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Tags: acquisition advisor arkansas bank banking bond broker business canada construction consulting consumer corporate credit card dealer dollar economy electricity e-mail engineering financial services foreign exchange foundation grants housing insurance investment investment opinion leasing legislation louisiana magazine mississippi mortgage mutual funds new jersey nonprofit north america nuclear nyse power plant products profit puerto rico research retail securities security small cap texas treasury utilities web wholesale
Companies: Dot Hill Systems, Inc. (HIL), Eaton Vance Corp. (EV), Entergy Corp. (ETR), Hill International Inc (HINTU), Nordic American, Inc. (NRDM), U.S. Bancorp (USB), Westwood Holdings Group, Inc. (WHG)
Nov 04, 2009 (Datamonitor Financial Deals Tracker via COMTEX) --
U.S. Bancorp, through its lead bank U.S. Bank NA, has acquired all of the deposits and assets of San Diego National Bank, a banking subsidiary of FBOP Corporation, from the Federal Deposit Insurance Corporation (FDIC). All the parties involved in the transaction are based in the US.
Both U.S. Bank and San Diego National Bank are providers of personal and commercial banking products and services.
Simultaneously, U.S. Bank has also assumed all of the deposits and assets of eight other banking subsidiaries of FBOP from the FDIC. The nine banks were closed on October 30, 2009 by federal and state bank regulators, which appointed the FDIC as receiver. These eight banks include, California National Bank, Citizens National Bank, Madisonville State Bank, North Houston Bank, Pacific National Bank, Park National Bank, Bank USA, National Association and Community Bank of Lemont.
As of September 30, 2009, the banks had combined assets of $19,400 million and deposits of $15,400 million. Under the terms of the transactions, U.S. Bank will receive approximately $18,400 million of assets and assume approximately $18,300 million of liabilities, including $15,400 million of both insured and uninsured deposits, of the nine different banks that are part of FBOP.
In addition, the FDIC and U.S. Bank have entered into a loss-share transaction on approximately $14,400 million of the combined purchased assets of $18,200 million. U.S. Bank will share in the losses on the asset pools covered under the loss-share agreement.
Deal Type Acquisition Sub-Category Asset Purchase Deal Status Completed: 2009-10-30
Deal Participants
Target (Company) San Diego National Bank - Deposits and Assets Acquirer (Company) U.S. Bank N.A. Vendor (Company) Federal Deposit Insurance Corporation
Deal Rationale
The acquisition is consistent with the growth strategy of U.S. Bancorp, which includes enhancing its existing franchise through low-risk, in-market acquisitions. The transaction adds scale to U.S. Bancorp's current California, Illinois and Arizona footprints in the US and key markets within these states. The acquisition is an efficient means of leveraging U.S. Bank's strong capital base, as U.S. Bancorp further expands opportunities to bring its products and services to a new, larger customer base.
Tags: acquisition arizona bank banking california commercial community FDIC federal illinois insurance market products
Companies: U.S. Bancorp (USB)
MINNEAPOLIS, Nov 04, 2009 (BUSINESS WIRE) --
U.S. Bancorp (NYSE: USB) announced today that Richard K. Davis, chairman, president and chief executive officer, is scheduled to present at the Bank of America Merrill Lynch 2009 Banking & Financial Services Conference. The presentation will begin at 3:25 p.m. EST on Tuesday, November 10, 2009, at the Grand Hyatt Hotel in New York City. The presentation will include information about U.S. Bancorp's financial performance and corporate strategies.
A live audio-webcast of the presentation will be available through U.S. Bancorp's website at usbank.com. To access the webcast and slides used in the presentation, go to U.S. Bancorp's website and click on "About U.S. Bancorp" and then "Investor/Shareholder Information". The link to the webcast and slides will be found on the "Webcasts and Presentations" page. Individuals without Internet access may request a copy of the slide presentation on Wednesday by calling 612-303-0781. A replay of the webcast will be available one hour after the live event at the same location on the website and will remain posted through November 27th.
Minneapolis-based U.S. Bancorp ("USB"), with $265 billion in assets as of September 30, 2009, is the parent company of U.S. Bank National Association, the 6th largest commercial bank in the United States. The company operates 2,851 banking offices and 5,175 ATMs in 24 states, and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the web at usbank.com.
SOURCE: U.S. Bancorp
U.S. Bancorp Judith T. Murphy, Investor Relations, 612-303-0783 or Steve Dale, Media Relations, 612-303-0784
Tags: bank banking ceo commercial conference corporate financial services hotel insurance internet investment mortgage new_york nyse president products
Companies: U.S. Bancorp (USB)
MINNEAPOLIS, Nov 12, 2009 (BUSINESS WIRE) --
The Association for Corporate Growth (ACG) Minnesota Chapter invites all members of the Minneapolis/St. Paul media to attend this month's chapter meeting, featuring Richard Davis, Chairman, President and Chief Executive Officer of U.S. Bancorp. Davis's discussion will be centered on leading in unchartered waters.
Davis has served as Chairman since December 2007, as President since October 2004, and as Chief Executive Officer since December 2006. He also served as Chief Operating Officer of U.S. Bancorp from October 2004 until December 2006. From the time of the merger of Firstar Corporation and U.S. Bancorp in February 2001 until October 2004, Davis served as Vice Chairman of U.S. Bancorp. During the merger, he was responsible for Consumer Banking, including Retail Payment Solutions (card services), and he assumed additional responsibility for Commercial Banking in 2003. He is currently a Director of Excel Energy.
Meeting Details
Tuesday, November 17, 2009 -- 11:30 AM-1:30 PM
ACG Minnesota Meeting
Marquette Hotel 50th Floor of IDS Center 80 South Eighth Street Minneapolis, MN
Please visit www.marquettehotel.com/location.htm for directions. For more information on this event and our speaker, please visit the ACG Minnesota Web site at www.acg.org/minnesota/.
Media Registration
Members of the media are invited to attend the event this month at no cost. Please register your attendance by calling Nicki Vincent at 612-590-1041 or email at acgminnesota@acg.org.
Mark Your Calendar: Upcoming ACG Minnesota 2009 Calendar Events
December December 2, 2009 ACG MN Corporate Breakfast
Restructuring & Turnaround
December December 15, 2009 ACG MN Joint Luncheon with CFA society
Featuring Slocum, Asset Manager
Performance Evaluation
with Texas Hemmaplardh
January January 28, 2009 ACG Joint Dinner with CFA society
Featuring Economist David Brooks,
Columnist for the New York Times
About ACG Minnesota
The Association for Corporate Growth provides members with practical information to develop sound corporate growth decisions. ACG emphasizes top-quality performance, high earnings and well-founded corporate value. Diverse business professionals formed the Minnesota chapter over 35 years ago and membership now exceeds 280 executives. Members count on an extensive peer network where they can test and exchange ideas. All meetings feature speakers who offer provocative perspectives and prompt creative thought about daily challenges in the business world. Members' skills are advanced and they typically come from these backgrounds:
-- Top executives in their operating company divisions of administration, finance, development and planning
-- Principals in professional service firms such as attorneys, accountants and deal makers all specializing in mergers and acquisitions
-- Financiers including venture capitalists, bankers and equity investors
Visit http://www.acg.org/minnesota for more information on ACG Minnesota.
SOURCE: ACG Minnesota
ACG Minnesota Nicki Vincent, 612-590-1041 Executive Director acgminnesota@acg.org
Tags: banking business ceo commercial consumer corporate email energy equity finance hotel media minnesota president restructuring retail texas web
Companies: U.S. Bancorp (USB)
Total : 860 View more »
Regional Banks See Boost in Bad Loans; U.S. Bancorp 3Q Misses Estimates, Shares Fall 5%; National City Reports Wider-Than-Expected 3Q Loss, Plans to Cut 4K Jobs Over Next Two Years; Regions Financial and Fifth Third Bancorp Also Miss 3Q Estimates; M&T Profit Drops on Freddie and Fannie Charge;
http://www.zibb.com/article/4207410/Video+Stocks+to+Watch+Regional+Banks+Texas+Instruments
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With over four decades of experience, U.S. Bancorp Fund Services, LLC understands the challenges facing fund sponsors.
Investment Products and Services are available through U.S. Bancorp Investments, Inc., an investment advisor and brokerage subsidiary of U.S. Bancorp and an affiliate of U.S. Bank.
Total : 1,380,000 View more »
Investment Products and Services are available through U.S. Bancorp Investments, Inc., an investment advisor and brokerage subsidiary of U.S. Bancorp and an affiliate of U.S. Bank.
Find news and information on U.S. Bancorp, including media relations, investor/shareholder information and more.
U.S. Bancorp operates as the holding company for U.S. Bank National Association that provides various banking and financial services in the United States.
U.S. Bancorp (NYSE:USB), headquartered in Minneapolis, MN, is the nation's 6th largest bank.[1] The bank offers loans, credit, and insurance...
Seeking experienced and entry-level collectors for full-time positions. High School Diploma or GED required. Nights and weekends required. We offer an excellent benefits package and an outstanding professional environment.
Investment Products and Services are available through U.S. Bancorp Investments, Inc., an investment advisor and brokerage subsidiary of U.S. Bancorp and an affiliate of U.S. Bank.