Banks

Don’t get me wrong. I have nothing bad to say about either Zak or Azeez. They are both my colleagues and I respect them. I just needed a headline that would grab your attention. But I am not being entirely self-serving. I am also blatantly trying to get you to read Azeez’ article entitled “Annual […]

Patriot National Bancorp, Inc. (Nasdaq:PNBK) reported net income of $525,000 or $0.01 per diluted share for the second quarter of 2014. The results compare to net income of $319,000 in the first quarter of this year, (a 65% increase) and compared to a net loss of $3,912,000 in the second quarter of 2013. Excluding a […]

“A big, positive step,” is how Vince Cable described the Bank of England’s consultation papers published this morning. He went on to say that, “It is absolutely right that banker’s bonuses should be properly regulated so that they cannot cause the collapse of banking institutions.” Andrew Bailey, CEO of the Prudential Regulation Authority lauded the […]

At approximately 10:00 am GMT, Wednesday morning, the Bank of England is expected to publish Consultation Papers 14/14 and 15/14, “Strengthening Accountability in Banking,” and “Remuneration” outlining, to the extent that we know at this point, new guidelines for the UK banking sector, including further empowering the BoE’s ability to clawback variable bonuses and...

Meridian Interstate Bancorp (Nasdaq:EBSB), the holding company for East Boston Savings Bank, announced today the results of the stock offering of Meridian Bancorp, Inc., a newly formed corporation that is the proposed successor holding company for East Boston Savings Bank. The closing of the offering and the conversion from the mutual holding company to stock […]

Chicowhat? Chicopee Bancorp, Inc(Nasdaq:CBNK), the holding company for Chicopee Savings Bank, announced today that it expects to record a provision for loan losses of approximately $2.8 million (pre-tax) and $5.0 million (pre-tax) for the three and six months ended June 30, 2014, respectively. As a result, the Company anticipates reporting a loss before taxes of […]

MainStreet Bank (OTCQB:MNSB) ended the first half of 2014 with pre-tax earnings of $817,000 and nearly $316 million in total assets. “Our loan portfolio has grown nearly 12% since this time last year,” said Chairman, CEO & President Jeff W. Dick. “And our deposit base has grown over 21% during that same time period. Probably […]

Janet Yellen has held the office of Chairwoman of the U.S. Federal Reserve for barely six months. Although any change following Ben Bernanke’s tenure would have been certain to engender more change than just the chairmanship itself, Yellen stunned economists and investors today in “the clearest statement yet that the new U.S. central bank chief […]

$946 Million Tarp repayment from Popular, Inc. The U.S. Department of the Treasury today announced that US taxpayers received a full repayment from Popular, Inc. (Popular) of $946 million. Popular (NASDAQ:BPOP), the largest bank that remained in the Capital Purchase Program (CPP), recently received regulatory approval from the Board of Governors of the Federal Reserve […]

There was so much going on today, I couldn’t settle on just one item. Instead, I thought I would highlight what has been happening to the share prices and the shareholders of Rolls Royce (LSE:RR.), Tesco (LSE:TSCO), Royal Bank of Scotland (LSE:RBS) and Tencent Holdings (HKX:700). Rolls Royce Shares in Rolls Royce gained 2.2% to […]