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May 04 2023
The U.S. bank turmoil is not over. First Republic just became the third major bank to fail this year, requiring a government takeover. Its stock was trading at less than $4 a share on Friday, a cliff-dive from nearly $150 in February, as depositors and investors fled the bank. This is a slow-moving crisis. There will almost certainly be more fallout to come.
At least stronger banksWashington Post
May 04 2023
Federal Reserve chair Jay Powell yesterday said that the U.S. banking system is "sound and resilient." The big picture: It was akin to a sports team owner giving the coach a vote of confidence. If you're compelled to say it, things really aren't going well. Driving the news: PacWest reportedly is exploring strategic options, including a possible sale, acknowledging "discussions are ongoing"Axios
Mar 21 2023
Imperiled bank Credit Suisse was bought by Swiss banking giant UBS Sunday, hours before New York Community Bank announced plans to purchase Signature Bank. The purchases were meant to calm nervous depositors in the wake of Silicon Valley Bank’s demise earlier this month, but roiling markets on Monday were a reminder that there’s still a lot of uncertainty about whether the banking crisis canVox
Sep 22 2023
An accountant in northeast China deposited her life savings and received a letter guaranteeing her investment in a trust firm. Workers at a state-owned utility pooled money from friends and relatives believing that their investments were backed by the government. A man sank $140,000 into an account that he was told would make a 10.1 percent annual return.
They are among the hundreds ofNew York Times (News)
Apr 21 2023
On March 10, as fears were swirling over the health of the nation’s banks, an investment account belonging to the children of Representative Jared Moskowitz, Democrat of Florida, sold shares of Seacoast Banking Corporation worth $65,000 to $150,000.
Two days later, with the government working to control the crisis, Mr. Moskowitz said in a television interview that he had attended aNew York Times (News)
May 03 2023
Federal Reserve Chairman Jerome Powell said Wednesday that the U.S. banking system is “sound and resilient.” He made the case that the demise of First Republic Bank marked the end of the crisis that began in March when Silicon Valley Bank and Signature Bank failed. “There were three large banks, really from the very beginning, that were at the heart of the stress that we saw in early March —The Hill
May 04 2023
Toronto-based TD Bank was set to buy Tennessee-based First Horizon Corp oration in an all-cash $13.4 billion deal that would have expanded the Canadian company’s U.S. footprint. Now, the deal is off. TD Bank cited regulatory hurdles as a factor in the collapse of the deal, which was announced last year, according to the companies on Thursday. It’s more bad news for the regional banking sectorBarron's
Dec 02 2023
Allen Hoerman has been promoted to EVP, Chief Banking Officer at Vast Bank. Allen’s dedication and exceptional performance during his eight-year tenure with Vast Bank have culminated in this well-deserved promotion. Allen joined the Vast Bank family in 2015 as the SVP, Commercial Lending.With a background in Finance from the University of Oklahoma and nearly two decades of banking experience,Tulsa World
Dec 02 2023
Colton Reutlinger has been promoted to Commercial Banker at Vast Bank. Colton has been a valuable member of the team for nearly three years, focusing his expertise within the Credit Analyst department. Prior to working at Vast, his background in credit analysis began in 2017. Due to his dedication and strong commitment to the bank’s mission, Vast Bank is excited to welcome Colton to theTulsa World
Dec 08 2023
With the vicious October 7th massacre by the Palestinian terror group Hamas, which has resulted in 1200 Israeli civilian casualties, and ignited a war in Gaza, the debate regarding the Israeli-Palestinian Arab “crisis” is all over the halls of government, the mass media, and social media alike. Yet, time and time again, the anti-Israeli doofi (plural of doofus), make the same deliberate andTownhall