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Big Banks Fail

Thu, 22 Oct 2009 17:54:48 GMT

In the Wall Street Journal on Tuesday morning, Charles Calomiris, a leading banking expert, published an op ed entitled “In the World of Banks, Bigger can be Better.” It begins,[More...]

Why Is Goldman (GS) Allowed To Game The System?

Mon, 05 Oct 2009 15:45:03 GMT

Marshall Auerback sent me a link to a recent Simon Johnson missive about Goldman Sachs. I had already seen and liked this article, but his e-mail prompted me to write this post. My question is: Why is Goldman a bank holding company?[More...]

Financial Versus Real

Fri, 02 Oct 2009 13:35:00 GMT

I wrote the following this morning for Finacorp clients: “One of the keys to understanding the current environment is that there is a lot of financial liquidity, which obscures a lack of demand for products that are not staples. With unemployment so high, and perhaps worsening, it is difficult to invest in new plant and equipment, but easy to build up excess liquid assets as protection against further decay. It is also then easier to refinance debts, or buy high yielding debt, and clip a spread, hoping things don’t blow up again.”[More...]

94 Bank Failures So Far In `09

Tue, 22 Sep 2009 13:20:58 GMT

Regulators shut down 2 more banks in Kentucky and Indiana; tally hits 94 this year U.S. regulators on Friday shuttered two more banks in Kentucky and Indiana as the recession continues to weigh heavily on banks. Both of the failed banks were run by Columbus, Indiana-based Irwin Financial Corporation. This takes the total number of failed federally insured banks this year to 94, compared to 25 in 2008 and 3 in 2007.[More...]

5 More Banks Fail - 89 In '09 To Date

Tue, 08 Sep 2009 14:01:14 GMT

Three more banks and two thrifts in U.S. fail, tally reaches 89 this year The recession continues to weigh heavily on banks as U.S. regulators on Friday shuttered five more institutions in Missouri, Illinois, Iowa and Arizona. This takes the total number of failed federally insured banks this year to 89, compared to 25 in 2008 and 3 in 2007.[More...]

Moody's Confident About U.S.

Mon, 31 Aug 2009 18:06:26 GMT

Moody's Investors Service on Friday affirmed its Aaa credit rating on the United States. The action considers the country’s ability to survive the credit crisis, its political stability and favorable long-term economic prospects. Though the rising debt burden could threaten the creditworthiness of the world's largest economy, much of the debt the country is accumulating is backed by equity and securities purchases, which lessens the negative effect on the government's net worth.[More...]

Nevada State Bank Helps Out

Mon, 17 Aug 2009 18:20:40 GMT

Nevada State Bank, a subsidiary of Salt Lake City-based Zions Bancorp (ZION), has extended a helping hand to Federal Deposit Insurance Corporation (FDIC) by agreeing to act as a Payout agent for Community Bank of Nevada. ? The bank was seized by Nevada Financial Institutions Division on Friday and the FDIC was appointed as beneficiary. The failure of the bank is expected to cost the FDIC an estimated $781.5 million. ? The Community Bank of Nevada had total assets of $1.52 billion and total deposits of $1.38 billion at the end of June 2009. The FDIC was unable to immediately find a purchaser for the bank and instead created a new institution known as the Deposit Insurance National Bank of Las Vegas. ? The Nevada State Bank will provide operational management of the new bank in providing banking[More...]

The Long And The Short Of It All: Fair Value By The Market

Thu, 16 Jul 2009 14:40:32 GMT

We are presenting a list of companies which we believe are currently mispriced, based on our estimate of fair value, by the market. We develop our fair value ranges by projected free cash flow out one year and estimating an appropriate FCF multiple based on our assessment of risk and the strength of the balance sheet. Cisco Systems (CSCO: 19.57, +0.84 (+4.48%)) Recent Price $17.04 Value Range 21.86 – $38.41 Cisco Systems, Inc. designs, manufactures and sells Internet protocol (IP)-based networking and other products related to the communications and information technology (IT) industry, and provides services associated with these products and their use. [More...]

Will The Fed Get Too Much Power?

Wed, 17 Jun 2009 04:23:32 GMT

Clearly with the financial meltdown experienced during the past year, too little regulation is a bad thing. However, the same could be said of too much regulation. Some concerns have been raised after President Obama stated that new rules will try to eliminate the kind of excessive risk-taking by financial institutions that proved "very dangerous to the American people." In the President's speech tomorrow, he will propose that the Federal Reserve take on the mantle of the US financial "Super Cop." Currently the Fed is the country's central bank. However, if the Fed's focus was expanded to also supervise large financial institutions considered "too big to fail" (ala American International Group (AIG) in order to prevent another financial meltdown, some assert that it[More...]

USA Today: Banks Find Ways To Boost Fees

Fri, 29 May 2009 18:01:24 GMT

We've discussed this in numerous posts (like shouting into the wind) - as we concentrate more and more power FROM "too big to fail" institutions INTO "even too bigger to fail" institutions, we remove competition and create near oligopolies. So as we "wipe off the sweat" that we "saved" the system, we can know that our taxdollars created monsters that will be raising fees every which way but loose. You'd scoff at that when you throw in my face how we have 8000+ lending institutions in America hence the country is FULL of competition. In retort I will say to you - please burn this table into your head.... Top 50 Bank Holding Companies I only wish I had a before and after to show you how these have grown.... Just remember[More...]

Earnings Rise for 2 Banking Firms

Fri, 23 Oct 2009 14:48:00 GMT

Oct. 23--Two regional community banking companies reported higher earnings for the third quarter because they did not incur the big one-time charges for investment losses that they took last year.
Financial Institutions, the Warsaw-based parent of Five Star Bank, swung to a profit of $3.4 million, or 23 cents per share, after reporting a loss of $28.4 million, or $2.66 per share, in the third quarter of 2008.
Northwest Bancorp, the Warren, Pa.-based parent of Northwest Savings Bank, earned $12.1 million, or 25 cents per share, up 22.7 percent from $9.8 million, or 20 cents per share.

: iStockAnalyst.com Symbols Feed

Big Banks Fail

Why Is Goldman (GS) Allowed To Game The System?

Financial Versus Real

94 Bank Failures So Far In `09

5 More Banks Fail - 89 In '09 To Date

Moody's Confident About U.S.

Nevada State Bank Helps Out

The Long And The Short Of It All: Fair Value By The Market

Will The Fed Get Too Much Power?

USA Today: Banks Find Ways To Boost Fees

Earnings Rise for 2 Banking Firms

Big Rebound Puts Some Spring Back in Local Stocks: Buffalo Portfolio Gained 17.6 Percent As Market Rallied in the Second Quarter

Big Rebound Puts Some Spring Back in Local Stocks: Buffalo Portfolio Gained 17.6 Percent As Market Rallied in the Second Quarter

Local CEOs' Pay Keeps Rising, Even As Economy Sags

Local CEOs' Pay Keeps Rising, Even As Economy Sags

Bear Market Hits Local Stocks Especially Hard

BMO Capital Markets Continues to Grow Its Financial Institutions Investment Banking Team

Two More Area Banks to Accept Federal Aid

Two More Area Banks to Accept Federal Aid

Area Banks Consider Joining Federal Stock-Purchase Program

Five Star Bank Appoints Karl Krebs As Executive Vice President and CFO

Financial Institutions Declares Cash Dividend

Financial Institutions, Inc. Announces Second Quarter Earnings

Financial Institutions Declares Cash Dividend - May 21 2009 1:54PM

Financial Institutions Declares Cash Dividend

Financial Institutions, Inc. Announces Fourth Quarter and Year-End Results; Reports Non-Cash OTTI Charge; Retains 'Well-Capitalized' Position

Financial Institutions Completes $37.5 Million Capital Addition as Participant in U.S. Treasury's Capital Purchase Program

Fitch Teleconf: N.A. Aerospace/Defense & Diversified Industrials Outlook, Tomorrow @ 11 A.M. EST

Financial Institutions Receives Preliminary Approval to Participate in U.S. Treasury's Capital Purchase Program

Fitch Teleconf: N American Aerospace/Defense & Diversified Industrials Outlook, Tues, 12/9, 11am EST

Form 4 KREBS KARL FRANCIS For: Oct 01 (10K)

Form 3 KREBS KARL FRANCIS For: Oct 01 (10K)

Form 3/A BIRMINGHAM MARTIN KEARNE For: May 06 (10K)

Form 3 BIRMINGHAM MARTIN KEARNE For: May 06 (10K)

Form 3 FINANCIAL INSTITUTIONS For: May 06 Filed by: HARRISON RICHARD J (10K)

Form 3 MCLAUGHLIN RONALD MITCHE For: May 06 (10K)

Form 3 MURTHA MATTHEW T For: May 06 (10K)

Form 3 WITKOWSKI JOHN JOSEPH For: May 06 (10K)

Form 4 MILLER RONALD A For: Mar 12 (10K)

Form 4 KLOTZBACH KEVIN B For: Mar 12 (10K)