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Washington Post: A Quiet Windfall For US Banks

Thu, 13 Nov 2008 17:52:00 GMT

Ever get that pit in your stomach when you see something so very wrong? I wanted to give Paulson and co. some little benefit of the doubt, which is difficult for me but after what sort of fleecing is being down, and outright lies (we want transparency! we love transparency!) - it's just a ridiculous banana republic we are creating. The Washington Post has a damning article on a little known tax provision that was thrown into the TARP plan in the midst of the crisis. What a crock; this shows you who was being looked after while we were treated to the dog and pony [More...]

Billions In Bank Rescue Funds Are Fueling Buyout Deals, And Not The Increase In Loans That Would Help Ease The Financial Crisis

Fri, 31 Oct 2008 01:23:00 GMT

By William Patalon III Executive Editor Money Morning/The Money Map Report While the U.S. government’s plan to invest $250 billion into U.S. financial institutions has been billed as a... Money Morning is here to help investors profit handsomely on this seismic shift in the global economy. Money moves markets. But Money Morning lets you move first. [More...]

Wall Street Rallies, Indices Jump 11% on Global Rescue Plans

Tue, 14 Oct 2008 02:43:00 GMT

US stocks futures soared on Monday after authorities from all over the world stepped in to rescue troubled banks and restore investor confidence. Morgan's deal with Japan's biggest lender Mitsubishi UFJ Financial also buoyed sentiments.[More...]

Sovereign Bancorp (NYSE:SOV): Could A Deal With Santander Be Imminent?

Mon, 13 Oct 2008 12:27:00 GMT

Morgan Stanley has some interesting comments on Sovereign Bancorp (NYSE:SOV) noting the co is in late-stage talks topotentially be acquired by Banco Santander (already a 24.9% owner of SOV), according to an article published by the Wall Street Journal late Sunday evening. According to the WSJ, a deal could be announced as early as Monday with a deal price of roughly where SOV shares closed on Friday at $3.81. Neither company has commented on the potential transaction. Selling out at the wrong time for the wrong price? Firm's initial reaction is that they would be quite surprised if Sovereign management were to sell the company at the current stock price. Friday’s closing price is just 58% of its estimated 3Q08 tangible book value per share of $6.61, and well below[More...]

Indices Edge Lower, But Set Up Potentially Bullish Consolidation Patterns

Wed, 01 Oct 2008 23:54:00 GMT

The stock market indices after dropping sharply and retracing then backed and filled for the rest of the day in what I consider a potentially bullish consolidation.[More...]

US Stock Futures Rise On Bailout Optimism, Bush Statement

Tue, 30 Sep 2008 13:18:00 GMT

US Stock futures climbed higher on Tuesday on optimism bailout plan will be passed. Bush in his address to the nation also said that White House will talk to Congressional leaders on Tuesday. Earlier, on Monday, US lawmakers in House of Representative[More...]

The Dominoes keep Falling

Thu, 11 Sep 2008 22:50:00 GMT

Fannie and Freddie were thrown a government lifeline over the weekend but several regional banks with sizeable equity stakes in the two firms won’t be so lucky.[More...]

September 11, 2008: Bank Exposure To FNM/FRE Securities

Thu, 11 Sep 2008 09:11:00 GMT

Much has been made of bank exposure to FNM and/or FRE securities exposure. This is to be expected given the current state of affairs. The following examples of financial institutions and their exposure, as disclosed on or about July 20,2008 should be noted and applied towards any financial security considered for investment.1.$Exposure 2.Pref. 3.Debt. 4.% of tangible equityWells Fargo (WFC) 480m 480m 0 n/aFifth Third (FITB) 68m 68m n/a 1.2U.S. Bancorp (USB) 97m 97m 0 0.9BB&T (BBT) 310m 0 310m 4.4Sovereign Bancorp (SOV) 823m n/a 623m 14.5M&T Bank (MTB) 352m 162m 190m 11.3Synovus Financial (SNV)100m 100m 0 3.4Huntington (HBAN) 350m 0 350m 14.8WestAmerica (WABC) 45m 0 45m 16.4%Valley National (VLY) 70m 70m 0 9.2%EastWest Bancorp (EWBC)45m 0 45m 6.3%Wilmington Trust (WL) 42m 0 42m 6.2%[More...]

Regional Banks Crushed

Mon, 14 Jul 2008 20:20:00 GMT

I was (semi) joking in last week's piece about "Whose Bottom Will It Be?" - that after this round of bailouts we'll rally and then we'll repeat this whole process in a few months and the next bottom would be the Merrill Lynch (MER)/Washington Mutual (WM)[More...]

Sovereign Bancorp: Finally a Bottom?

Thu, 22 May 2008 06:28:23 GMT

Sovereign Bancorp (NYSE: SOV (1)) has been beaten down badly. They, like every other bank, made poor decisions when selecting which loans they would fund. As an investor, it's my job to look for signs that struggling banks have finally hit bottom. If such[More...]

BBVA Compass Plans Banking Growth in U.S.

Fri, 28 Aug 2009 07:49:00 GMT

Aug. 28--As many U.S. banks grapple with bad investments and weakened loan portfolios, Spanish-owned BBVA Compass is plotting an American expansion.
The Guaranty deal made BBVA Compass the 15th-largest U.S. commercial bank, with about $49 billion in total deposits and 767 branches stretching across the Sun Belt from Florida to California.
More than 400 of its branches are in Texas, where it ranks as the fourth-largest bank by deposits.

: iStockAnalyst.com Symbols Feed

Washington Post: A Quiet Windfall For US Banks

Billions In Bank Rescue Funds Are Fueling Buyout Deals, And Not The Increase In Loans That Would Help Ease The Financial Crisis

Wall Street Rallies, Indices Jump 11% on Global Rescue Plans

Sovereign Bancorp (NYSE:SOV): Could A Deal With Santander Be Imminent?

Indices Edge Lower, But Set Up Potentially Bullish Consolidation Patterns

US Stock Futures Rise On Bailout Optimism, Bush Statement

The Dominoes keep Falling

September 11, 2008: Bank Exposure To FNM/FRE Securities

Regional Banks Crushed

Sovereign Bancorp: Finally a Bottom?

BBVA Compass Plans Banking Growth in U.S.

Sidhu Named Chairman, CEO of New Century Bank

BRIEF: Santander-Sovereign Deal Fi Nalized

Shareholder Meeting Drew Strong Opinions

Sovereign-Santander Deal Approved: The Sale of the Wyomissing-Based Bank is OK'D By Its Shareholders.

Rockland Trust Deposits Up 7 %

BRIEF: Standard & Poor's Announces Changes to U.S. Indices

BRIEF: Health Care REIT Inc. To Debut on Standard & Poors 500

Sovereign State Workers Win Jobs Guarantee: A Shareholder Lawsuit Over the Fi Rm's Pending Acquisition By Banco Santander is Settled.

Top 25 Employers in Berks: It's Been a Remarkably Rocky Year, but Some Companies and Agencies Still Managed to Hire

Sovereign Declares Quarterly Dividends on Preferred Stock and Capital Trust - Jan 28 2009 4:51PM

Sovereign Shareholders Approve Transaction With Banco Santander

Standard & Poor's Announces Changes to U.S. Indices - 22-01-09

Summary Notice of Pendency of Shareholder Derivative and Class Action, Proposed Settlement Thereof and Hearing Announced by Donovan Searles, LLC -- SOV

BenchmarkJournal.Com (Complimentary) Analyst Review for FCX, LOW, SOV and SLM

Exchange Ratio Under Transaction Agreement With Santander To Be Adjusted on Completion of Santander Rights Offering

Banco Santander Chile's 'A+' IDR Remains on Rating Watch Negative

Sovereign Declares Quarterly Dividends on Preferred Stock and Capital Trust

Sovereign Bancorp, Inc. Pre-Announces Third Quarter 2008 Results

Banco Santander, S.A. to Acquire Sovereign Bancorp

Form 4 SOVEREIGN BANCORP INC For: Nov 24 Filed by: WHITWORTH RALPH V (10K)

Form 4 SOVEREIGN BANCORP INC For: Nov 12 Filed by: WHITWORTH RALPH V (10K)

Form 4 SOVEREIGN BANCORP INC For: Oct 02 Filed by: WALTERS KIRK W (10K)

Form 4 SOVEREIGN BANCORP INC For: Sep 30 Filed by: WHITWORTH RALPH V (10K)

Form 4 SOVEREIGN BANCORP INC For: Sep 30 Filed by: TROILO CAMERON C (10K)

Form 4 HOVE ANDREW C JR For: Sep 30 (10K)

Form 4 HEARD MARIAN L For: Sep 30 (10K)

Form 4 HARD BRIAN For: Sep 30 (10K)

Form 4 EHLERMAN P MICHAEL For: Sep 30 (10K)

Form 4 MORAN WILLIAM J For: Sep 30 (10K)