American Banker articles from May 2003

American Banker archives from May 2003

Omens Boost Capital One Sale Rumors.
May 1, 2003... What do rising earnings plus a major management reshuffling equal? In Capital One Financial Corp.'s case, takeover speculation. In recent days a din has surrounded the McLean, Va., credit card issuer, which reported a double-digit gain in...

New OCC Watchdog Sets Her Sights on Retail Risk.(Barbara Grunkemeyer)
May 1, 2003... Barbara Grunkemeyer, once a commercial lender, is starting to take a hard look at retail. The newly named deputy comptroller for credit risk at the Office of the Comptroller of the Currency still considers herself a commercial credit...

CEO: Run on Abacus Almost a Blessing.
May 1, 2003... For a man whose thrift lost 13% of its deposits in a four-day run, Thomas Sung sounds surprisingly upbeat. After all, his Abacus Federal Savings Bank is still standing, he points out. Last week it looked like another picture was...

TODAY'S NEWS.(calendar)(Brief Article)
May 1, 2003... FleetBoston continues to make progress in its restructuring, its CFO told investors. Page 2 Among senior B of A executives, only one still calls San Francisco home. Page 2 WASHINGTON Mr. Greenspan again urged Congress to renew the...

Visa Near Settlement: Parsing the Possibilities.
May 1, 2003... With settlement talks rendering the prospect of a long, drawn-out legal battle between the card associations and the nation's merchants less likely by the day, the odds increase that a very sudden, very dramatic shift in the payments business...

Fleet Targets $10B More Credits To Cut From Corporate Book.
May 1, 2003... FleetBoston Financial Corp. continues to make progress in its restructuring, Robert Lamb, its relatively new chief financial officer, said Wednesday morning at the UBS Warburg financial institutions conference in New York. He went over...

One B of A Unit Keeping Calif. Base, Global Offices.
May 1, 2003... When the newly merged, and newly headquartered, Bank of America Corp. started to break off chunks of its international operations five years ago, Global Treasury Services was one of the few divisions to keep its foreign offices and its San...

Greenspan Again Urges Preemption Renewal.
May 1, 2003... Unless Congress renews a key preemption provision of the Fair Credit Reporting Act, the cost of loans will rise, Federal Reserve Board Chairman Alan Greenspan told a House panel Wednesday. This is the second time this year that Mr....

High Court Hears Beneficial Case.(Brief Article)
May 1, 2003... The Supreme Court on Wednesday heard oral arguments in a case that will determine whether a national bank sued in state court for violating usury laws has the right to transfer the case to federal court. The case, Beneficial National...

Ads Hit Credit Unions Where They Live.
May 1, 2003... Are banks more patriotic than credit unions because they pay taxes? That was certainly the implication of two advertisements that Frances Slocum Bank in Wabash, Ind., ran recently in four Indiana newspapers in Peru, Wabash, and Kokomo. ...

Executive Changes.(meshed briefs)
May 1, 2003... MIDWEST Private Bank in Bloomfield Hills, Mich., has made Shellie Maitre its marketing officer and June Gorman a loan operations officer. Ms. Maitre, who joined the principal unit of Bloomfield Hills Bancorp Inc. in 2000, was its...

In Brief: Bank Agency Provider Hires VP.(Brief Article)
May 1, 2003... Banc Insurance Services Inc., a provider of turnkey insurance agency solutions for financial institutions, said that Ray LuBien has joined it as vice president of sales and marketing. Most recently, the company said on Tuesday, Mr. LuBien...

In Brief: Thrivent to Add 800 in Sales.(Brief Article)
May 1, 2003... Thrivent Financial for Lutherans announced a campaign Wednesday to recruit 800 financial associates this year for its field organization of nearly 2,500. Thrivent's associates are licensed financial professionals who offer counsel and...

P/C Insurers Fear Privacy Logjam in Data for Claims.
May 1, 2003... Property/casualty insurers are concerned that new health privacy rules will make it more difficult to get information they need to assess liability claims. Though the privacy regulation under the Health Insurance Portability and...

In Brief: Northern Trust Closes Deal for Atlanta Firm.(Northern Trust Corp. now owns Legacy South Inc.)(Brief Article)
May 1, 2003... Northern Trust Corp. said Wednesday that it has closed a previously announced deal for an Atlanta private wealth management firm. Northern now owns Legacy South Inc., which manages $300 million of assets for high-net-worth individuals,...

In Brief: Fidelity Taps Leader For Its 401(k) Unit.(Fidelity Investments appoints William C. Carey president of its 401(k) unit)(Brief Article)
May 1, 2003... Fidelity Investments said it has appointed William C. Carey president of its 401(k) unit. Mr. Carey, 42, was named the president of Fidelity Institutional Retirement Services Co., the parent mutual fund company said on Tuesday. He has...

In Brief: Mutual Fund Assets Fell as Inflows Rose.(Brief Article)
May 1, 2003... Mutual fund assets fell slightly in March, according to data from the Investment Company Institute. The combined assets of the nation's mutual funds declined 0.03%, to $6.266 trillion, the institute said Tuesday. All major categories...

In Brief: 529 Plan Group Unveils Its Board.(the College Savings Foundation announces its board of directors)(Brief Article)
May 1, 2003... The College Savings Foundation, an organization for building awareness about 529 college savings plans, has announced its board of directors. The foundation said Tuesday that it elected Charles Toth, the director of education savings at...

Top Bank Holding Companies by Concentration in Home Equity Loans*.(Illustration)
May 1, 2003... As of Dec. 31, 2002. Dollars in thousands. (part 1 of 2) 1 Five Flags Banks Inc. Pensacola, Fla. 2 First American Bank Corp. Elk Grove Village, Ill. 3 Heritage Community Bancorp Riverdale, Ill. 4 ...

3d Time the Charm? MyPoints, Citi Hook Up.(Citigroup Inc. is launching a cobranded credit card with MyPoints.com Inc.)
May 1, 2003... Citigroup Inc. is the third bank to offer a cobranded credit card with MyPoints.com Inc. The eight-year-old San Francisco company has had a string of bad luck choosing bank partners, with previous issuers NextCard Inc. and CompuCredit Corp....

Pipeline.(banking industry news briefs)
May 1, 2003... GMAC's Calif. Gambit GMAC Mortgage Corp. has a new division, CalDirect, dedicated to California borrowers. Rick Gillespie, the Horsham, Pa.-based mortgage company's chief marketing officer, said there will be an aggressive television...

Zions-EDS Pairing Could Be Key Match for Check Imaging.(Zions Bancorp and Electronic Data Systems Corp. are forming a partnership)
May 1, 2003... A partnership between Zions Bancorp and Electronic Data Systems Corp. is poised to close the gap between banks ready to clear checks with electronic images and those lagging in implementing imaging capabilities. Executives in the payments...

Citi Revamps Corporate Banking Site.(Citigroup completes an overhaul of its online banking site for corporations)(Brief Article)
May 1, 2003... Citigroup Inc. has completed the biggest overhaul in two and a half years of its online banking site for corporations, which now offers more language options and tighter integration of foreign exchange trading. Diane S. Reyes, the chief...

In Brief: HSBC Unit Agrees to Anti-Laundering Fixes.(a deal is reached between the Federal Reserve Bank of New York, the New York State Banking Department, and HSBC Bank USA)(Brief Article)
May 1, 2003... The Federal Reserve Board on Wednesday released a written agreement reached by the Federal Reserve Bank of New York, the New York State Banking Department, and HSBC Bank USA aimed at fixing "deficiencies" in HSBC's anti-money-laundering...

In Brief: Raines Has a Few Words for GSE Bashers.(Brief Article)
May 1, 2003... Fannie Mae chairman and chief executive Franklin D. Raines went after his foes once again Wednesday. "Lobbyists in Washington are being paid to stir the pot to see of they can negatively affect the business of Fannie Mae and Freddie Mac,"...

In Brief: New Backing for Hawaii Buyout Attempt.(Brief Article)
May 1, 2003... Another large shareholder of CB Bancshares Inc. has come forth to support an unsolicited takeover bid from a local rival. Hiroko Nagamoto, the president of the Japanese company Nanboku Sangyo, which holds a 4.8% stake in the $1.2...

In Brief: New Citibank Offering Involves Banamex.(Brief Article)
May 1, 2003... Citibank on Tuesday unveiled Global Transfer, which lets people transfer money in the United States or Mexico for $5. The Citigroup Inc. subsidiary currently offers an online service, c2it, that charges $10 to send money internationally...

In Brief: Top Two Settlement Houses to Be One.(Brief Article)
May 1, 2003... The nation's two largest check clearing and settlement houses, The Clearing House and The Chicago Clearing House, said Wednesday that they had signed a letter of intent to merge. The bank-owned organizations, both formed in the mid-1800s,...

TODAY'S NEWS.
May 2, 2003... WASHINGTON Page 3 COMMUNITY BANKING SBA loans for new construction may be slowed by environmental reviews. Page 4 Iowa's West Bancorp has agreed to buy Hawkeye State Bank in Iowa City. Page 4 INSURANCE/INVESTMENT PRODUCTS...

Will FDIC Reserve Review Make Ratios Less Volatile?(Federal Deposit Insurance Corp.)
May 2, 2003... The Federal Deposit Insurance Corp. is reevaluating how it estimates losses on future failures -- a key calculation that can have a dramatic effect on the premiums paid by banks and thrifts. The FDIC's goal is to reduce the volatility of...

What Debit Settlements Really Mean To Issuers.
May 2, 2003... The new payments world created by the settlements of Visa U.S.A. and MasterCard International in the Wal-Mart case means that banks must plan for sizable losses in debit card interchange revenue, which will likely affect a wide range of...

Testing Limits of Demand For Purchase Mortgages.
May 2, 2003... Big mortgage lenders know that sooner or later this refinancing boom is going to end, the easy money will go away, and they will have to make more home-purchase loans to survive. Homebuilders Financial Network, a Miami Lakes, Fla., firm...

Venturing to New Markets, Agency First.(BancorpSouth Inc. entering Baton Rouge market via acquisition of WMS L.L.C. assets)
May 2, 2003... BancorpSouth Inc. is using an insurance agency deal to enter the Baton Rouge, La., market -- a move that a deal broker says is part of a trend among banks that are looking beyond their footprint for growth opportunities. James Threadgill,...

Branding, Competition Drive Retail Ad Spending Boom.
May 2, 2003... Advertising spending is growing faster at the largest U.S. banks than in the industry in general, and faster than all ad spending nationwide, as companies focus on retail banking and brand building. Bank One Corp., FleetBoston Financial...

People.(various news briefs)
May 2, 2003... Hawaiian Hijinks A hostile takeover battle in Hawaii has devolved from high drama in the Honolulu business community to spirited lava-slinging. It all started April 17, with a conference call by Central Pacific Financial Corp., the...

Flash Points.(investment banking settlement)
May 2, 2003... Congress Is Monday's global settlement the be-all and end-all of policymakers' probes into investment bankers' business practices? That would certainly please Wall Street. Representatives of the big 10 firms argue that the deal cut...

SBA Lenders Worried About New Eco-Friendly Procedures.(Small Business Administration )
May 2, 2003... Banks that make U.S. Small Business Administration loans for new construction are bracing for much slower originations because of new environmental-impact red tape. Federal agencies' environmental-impact reviews are not new. Since 1969,...

In Brief: West Bancorp. to Buy Hawkeye State.(Brief Article)
May 2, 2003... West Bancorp. Inc. has agreed to buy $140 million-asset Hawkeye State Bank in Iowa City. The deal, announced late Wednesday, is expected to close in August. West did not reveal how much it would pay in the all-cash deal, except to say...

In Brief: National Penn in Deal for Pa.'s HomeTowne.(acquires HomeTowne Heritage Bank)(Brief Article)
May 2, 2003... Two months before its fourth anniversary, HomeTowne Heritage Bank said Thursday it has agreed to sell itself to National Penn Bancshares Inc. for $37.6 million in cash. Wayne R. Weidner, National Penn's chairman and chief executive...

In Brief: Consumer Protection Enforcement Summit.(Brief Article)
May 2, 2003... The Mortgage Bankers Association of America announced Thursday it will hold a meeting next month on enforcement of consumer protection laws. Federal and state regulators as well as mortgage industry and consumer representatives will be...

In Brief: S1 Takes Edify Off Selling Block.(Brief Article)
May 2, 2003... After eight months of negotiations, S1 Corp. has dropped plans to sell its Edify unit, saying it could not get fair value. S1, a maker of banking software products, said late Wednesday that it would take a goodwill-impairment charge of $12...

In Brief: CheckFree Pairs With AcuPrint.
May 2, 2003... CheckFree Corp. has struck a deal with AcuPrint Technology Inc. to help banks promote positive-pay check-fraud prevention to their middle-market corporate clients, an executive says. Mark Zill, the general manager of the CheckFree...

In Brief: Royal of Canada Does Desk Work.(Brief Article)
May 2, 2003... Royal Bank of Canada has whittled dozens of information technology service- desk operations down to four, and plans to keep at it until it gets all its "change and problem" management operations on a single computer system, a manager with the...

Letters to the Editor: Congress Must Not Let Wal-Mart Enter Financial Industry.
May 2, 2003... To the Editor: Why should a banker like you listen to a labor leader like me about the banking business? Very simple, I have what banks are about to get -- the Wal-Mart experience -- and it will not leave you with a smiling face. ...

Letters to the Editor: 'Balanced' Laws On Predators Are Anything But.(Letter to the Editor)
May 2, 2003... To the Editor: Randy Lively's April 25 letter ("Activist Groups Must Look at Real Subprime World," page 8) describes laws on predatory lending in Kentucky, Colorado, and Florida as "balanced laws" and the result of "cooperation between...

Letters to the Editor: New Subprime Law In N.J. Fair to Both Banks, Borrowers.(Letter to the Editor)
May 2, 2003... To the Editor: Randy Lively, President and CEO of the Washington-based American Financial Services Association, took issue with "consumer activist groups" in his April 25 letter, "Activist Groups Must Look at Real Subprime World" (page 8)....

Let Banks Be Intermediaries In the Commodities Markets.
May 2, 2003... Despite the post-Enron taint on energy and commodities trading, the Federal Reserve Board is considering a rule that would let bank holding companies enter into derivative contracts that typically result in taking and making delivery of title...

Letters to the Editor: After Settlement, Visa, MasterCard Must Be Reshaped.(Letter to the Editor)
May 2, 2003... To the Editor: In an article earlier this month ("Banks Must Act to Prevent Disaster in Wal-Mart Case," April 4, page 8), I urged the card industry to recognize the potential catastrophe in its antitrust lawsuits, especially the Wal-Mart...

Support for FHLBs In Disclosure Fight.(Federal Home Loan banks)
May 2, 2003... In a letter sent to Bush administration officials Wednesday, 17 lawmakers expressed concern about a proposal to require the Federal Home Loan banks to make financial disclosures to the Securities and Exchange Commission and endorsed a...

Top Community Banks* Based on Return on Average Equity.
May 2, 2003... At yearend 2002. Dollars in thousands. (part 1 of 2) 1 Pitney Bowes Bank Salt Lake City 2 Benchmark Bank Plano, Tex. 3 First National Bank of Arizona Scottsdale 4 Horizon National Bank Leawood, Kan. ...

In Brief: Treasury to Weigh In on Credit Reporting.(Brief Article)
May 2, 2003... A Treasury Department official is scheduled to testify at a congressional hearing Tuesday on the renewal of a data-sharing preemption provision of the Fair Credit Reporting Act. The witness, unidentified as of Thursday, is expected to...

In Brief: N.J. Governor Signs Stiff Anti-Predator Bill.(Brief Article)
May 2, 2003... Gov. James E. McGreevey signed a predatory lending measure Thursday that would hold secondary-market mortgage buyers and securitizers liable for the misdeeds of originators and other players. The New Jersey law, which is considered the...

In Brief: FDIC Chief Stands Up for Industrial Banks.(Brief Article)
May 2, 2003... The Federal Deposit Insurance Corp. is defending its supervision of industrial loan companies, turning up the heat on the debate on whether such companies should be given expanded powers. In a letter Wednesday to Sen. Robert F. Bennett,...

A Muted Market Response To Rumors About TD Unit.(Toronto-Dominion Bank, TD Waterhouse )
May 2, 2003... Shares of discount brokerage firms were mixed Thursday after a report that Toronto-Dominion Bank could be mulling a sale of the U.S. arm of its TD Waterhouse Discount Brokerage unit. The Canadian bank has struggled to find a place for TD...

Clarification.(Brief Article)(Correction Notice)
May 2, 2003... The tables listing the top 150 bank and thrift holding companies as ranked by deposits and by assets, which ran April 15 on pages 3A and 5A, respectively, in the "Ranking the Banks" special report, should have noted that only publicly...

Basel II's Other Issue: Disclosure.(Basel Committee on Banking Supervision rules focus attention on disclosure)
May 5, 2003... When the Basel Committee on Banking Supervision rolled out its third proposal for rewriting international bank capital rules last week, the bulk of the attention -- like the bulk of the document itself -- was on its methods of calculating...

Another Check Survey for Fed: One of its goals: To verify dip reported in '01.(Federal Reserve Board)
May 5, 2003... The Federal Reserve Board is gearing up to conduct a fresh survey of the volume of paper checks written annually, a follow-up to the landmark 2001 research that led to the first clear conclusion that check-writing was on the decline. Fed...

Merrill Offers a Retail Banking Self-Assessment.(Merrill Lynch & Co.)
May 5, 2003... Around four months after taking the wraps off its Beyond Banking marketing initiative, a top Merrill Lynch & Co. executive last week offered a omprehensive update on the company's goals in retail banking and listed its successes to date. ...

Newly Formed Holding Co. Has Southern Calif. in Sights.(America Bancshares Inc.)
May 5, 2003... Less than a month old, a holding company set up by a family that is active in bank investing and wants to build a Southern California operation of its own has struck its first deal. America Bancshares Inc. was formed by B. John Barry, who...

TODAY'S NEWS.(Predatory lending)(Brief Article)
May 5, 2003... COMMUNITY BANKING The D.C. Council will vote on a nonbinding resolution opposing preemption of local laws aimed at abusive lending. Page 3 WASHINGTON Page 4 CARDS A task force seeking ways to stop data theft at ATMs drafted...

Agencies Square Off On Deposit Reform Bill.(Federal Deposit Insurance Corp.)
May 5, 2003... Federal Deposit Insurance Corp. Chairman Don Powell on Friday lashed out at assertions that lawmakers can dawdle on deposit insurance reform, saying there could be "very real financial consequences" if a comprehensive bill is not enacted by...

Movement on LLC, But IRS View Pivotal.(limited liability companies,)
May 5, 2003... Inspired by the Federal Deposit Insurance Corp.'s decision to give deposit insurance to state-chartered banks incorporated as limited liability companies, Nebraska has repealed a law prohibiting state banks from adopting the structure. ...

D.C. to Take Stand on U.S. Predator Law.(Brief Article)
May 5, 2003... The District of Columbia Council is scheduled to vote Tuesday on a resolution opposing federal preemption of state and local laws aimed at abusive lending. The nonbinding resolution "calls upon the U.S. Congress to respect the authority...

Washington People.(Jonathan Fiechter will wrap up his second stint with the Office of the Comptroller of the Currency and join the International Monetary Fund)
May 5, 2003... IMF Gets a Lifer Jonathan Fiechter will wrap up his second stint with the Office of the Comptroller of the Currency and join the International Monetary Fund June 2. Mr. Fiechter has been a fixture in the world of financial services...

Settlements In Hand, Lawyers in Debit Suit Lighten Up In Court.(Walmart, Visa U.S.A. and Mastercard International)
May 5, 2003... At the end of what was supposed to have been the first week of the Wal-Mart trial, there were nothing but smiles and handshakes as lawyers for the retailers, Visa U.S.A., and MasterCard International submitted a time line for wrapping up the...

Group Recommends Ways To Reduce Fraud at ATMs.(Brief Article)
May 5, 2003... A task force assembled last year by the Electronic Funds Transfer Association to suggest ways to stop the illegal skimming of financial data from debit cards at automated teller machines has drafted preliminary recommendations -- most of them...

In Brief: Amex to Use Morningstar Advice Tool.(American Express)(Brief Article)
May 5, 2003... American Express agreed Friday to its financial advisers' using Morningstar's Web-based investment planning and advice tools. Morningstar Associates LLC is creating a customized version of its Morningstar Advisor Workstation for American...

In Brief: Community First Buys Colo. Agency.(Community First Bankshares Inc. through its subsidiary Community First Insurance Inc. has bought Kraft Insurance Service Inc.)(Brief Article)
May 5, 2003... Community First Bankshares Inc. through its subsidiary Community First Insurance Inc. has bought Kraft Insurance Service Inc. of Grand Junction, Colo., the financial services company said. The deal is Community First's 14th agency...

In Brief: Exchange-Traded Fund Assets Rose.(Brief Article)
May 5, 2003... Assets in exchange-traded funds grew 8.6% in March, the Investment Company Institute said. The asset total in exchange-traded funds rose to $100.83 billion, the institute said on Wednesday. Equity index funds in this category grew 8.9%,...

In Brief: Hedge Funds Seen Doubling Inflows.(gained $1.4 billion of assets in the first quarter)(Brief Article)
May 5, 2003... Hedge funds gained $1.4 billion of assets in the first quarter, according to a survey by LJH Global Investments, a hedge fund advisory firm. Aggregated flows for all hedge fund strategies have more than doubled since Dec. 31, according to...

States Create Annuity-Rate-Floor Patchwork.(fixed annuities)
May 5, 2003... Most states, recognizing the persistence of a low interest rate environment, have changed or are changing the legal floors for minimum rate guarantees on fixed annuities, according to the American Council of Life Insurers. But the laws...

Investment-Grade Loans Dip, and Some Applaud.(market for syndicated credits fell to its lowest point)
May 5, 2003... The market for syndicated credits fell to its lowest point in seven years during the first quarter, but analysts sifting through the ashes say they have found something promising. For the first time the issuance of leveraged credits --...

S1: Earnings Drop to Continue.(S1 Corp.)
May 5, 2003... S1 Corp. blamed the economy for its larger-than-expected first-quarter loss and said revenue will continue to fall through the third quarter. The banking software maker said the poor economy also thwarted its attempts to sell Edify Corp.,...

Fannie CEO: Wall St. Still Vulnerable to Scandals.(Investment banking firms)
May 5, 2003... It was not the typical Thursday night crowd at the 92nd Street Y auditorium. There were more suits than usual in the audience, which included such mortgage industry luminaries as Luke S. Hayden, an executive vice president of Chase...

In Brief: S&P to Stop Rating Some N.J. Loan Bonds.(Standard & Poor's Corp. will no longer rate bonds when state's predatory lending law goes into effect)(Brief Article)
May 5, 2003... Standard & Poor's Corp. said Friday that, beginning Nov. 27, when New Jersey's predatory-lending law is scheduled to go into effect, it will no longer rate bonds backed by many types of loans in the state. These include manufactured...

In Brief: Spitzer on Criminal Actions: 'Just Wait'.(criminal investigations against the bankers or analysts at the investment firms)(Brief Article)
May 5, 2003... New York Attorney General Eliot Spitzer on Friday said there could eventually be criminal investigations against the bankers or analysts at the investment firms he struck an historic deal with last week. Responding to people who questioned...

In Brief: Check Processors Gear Up for Exchange.(Fiserv Inc. and Small Value Payments Co. have agreed to connect their systems)(Brief Article)
May 5, 2003... Fiserv Inc. and Small Value Payments Co. have agreed to connect their systems to allow their bank customers to exchange check data and images electronically. The check-processing technology vendors said the deal will permit participating...

In Brief: B of A Settles San Francisco Tax Dispute.(Brief Article)
May 5, 2003... Bank of America Corp. has agreed to pay $10.2 million to the city of San Francisco to settle a dispute over tax credits it claimed after a 1997 acquisition. San Francisco officials are calling the payment one of the largest in the city's...

KeyCorp Looking Like Prime Takeover Target.
May 5, 2003... Some years ago KeyCorp executives pledged to analysts that they would consider selling if restructuring efforts failed to boost profits. Some on Wall Street say the time to do so may come soon. Richard X. Bove, an analyst at Hoefer &...

Calif. Revokes Wells' Lending Licenses.(residential mortgage and finance)
May 5, 2003... The California Department of Corporations said Friday that it had revoked Wells Fargo & Co.'s residential mortgage and finance lender licenses there after a ruling by a state administrative law judge. The agency, which regulates mortgage...

Royal of Scotland Eyes U.S. Consumer Finance.(Royal Bank of Scotland PLC)
May 6, 2003... Taking a cue from his global banking peers, the chief executive of Royal Bank of Scotland Group PLC hinted last week that his company is interested in adding consumer finance or credit card heft in the United States. Fred Goodwin...

Hostile Target CB of Hawaii Plays the Populist Card.
May 6, 2003... Directors at CB Bancshares Inc. in Honolulu have unanimously rejected a takeover bid by a local rival, Central Pacific Financial Corp., and are urging shareholders to do the same at a hastily scheduled vote this month. Striking a populist...

Can a Media Mogul Mine Mortgages?
May 6, 2003... Barry Diller, the executive who helped build Fox Inc., HSN, and USA Networks, is trying to take his business model into financial services through a deal for the online loan exchange LendingTree Inc. In the last decade Mr. Diller has...

Boston Private Maps National Deal Strategy.(Boston Private Financial Holdings)
May 6, 2003... Boston Private Financial Holdings Inc. says it will buy its way into markets nationwide in pursuit of private banking business with professionals who are building wealth. Timothy Vaill, the New England private banking company's chairman...