News10.net | Gas prices drop average 16 cents over past 3 weeks Sacramento Bee The average US price of a g » |
Sunday, June 10, 2012
Gas prices drop average 16 cents over past 3 weeks - Sacramento Bee
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Saturday, June 9, 2012
Friday, June 8, 2012
Washington's Katie Flood advances to 1500 final at NCAA championships - The Seattle Times
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The Gazette: Eastern Iowa Breaking News and Headlines (blog) | Washington's Katie Flood advances to 1500 final at NCAA championships The Seattle Times Washington sophomore Katie Flood was impressive Friday in qualifying for the women's 1500-meter final on Day 2 of the NCAA outdoor track... No comments have been posted to this article. DES MOINES, Iowa รข€" Washi ngton sophomore Katie Flood was ... NCAA track: Katie Flood gets going, but Ashley Miller is gone Hasay makes 1500 final at NCAA championships Fourth for Nelson |
Wednesday, June 6, 2012
M&I Bank, BankFirst, four others in metro post $1M+ losses in Q2 - Minneapolis / St. Paul Business Journal:
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M&I Bank, which is headquartered in Milwaukee but isthe fifth-largest bank in the Twin lost $388 million in the secon d quarter, compared to incomee of $112 million in the first quarter of the year. It rankeds 8,440th out of the nation’sx 8,451 banks reporting net income to thethat quarter. In the firsg quarter, M&I reported a profit and was ranked 31st in the countru outof 8,498 banks reporting net income. headquartered in Minneapolis and part of theholdintg company, reported a loss of $50 million for the seconx quarter, adding to its losses of $13.9 millioj in the first quarter.
Ameriprise Bank in Minneapoliwssaw $10 million in losses; since it’d only 2 years old, it’s not expected to be profitable yet. “Banke are managing their business in achallengingv cycle,” said Joe Witt, CEO of the in Edina. “Some banks took a but the vast majority arestill profitable.” According to the FDIC 80 out of 124 Twin Cities bankds were profitable in the seconde quarter, compared to 94 out of 123 in the firsg quarter. One reason for the losses were loan-loss money that is set asidse to make up for loansd that have been or will be charged off.
Many of those troublede loans are in the real estate Inits second-quarter earnings release, M&o reported a loan- and lease-loss provisionm of $886 million because of the deterioratingv housing market. The bank took the provisioh to strengthen its balance sheet in anuncertain environment, said Greg the bank’s chief financial adding that M&I’s strong capitalo position allows it to take such an aggressivw step. “We’ve seen how the residential construction markets have deterioratedd and as a part of our effort to have a fortresebalance sheet, we’ve built that allowance for future losses,” he said.
BankFirst also citedc the real estate market in takinga $50 million loan-loss provision in the seconde quarter, bringing its totall reserves to $77 million. “Conditions in the credit marketse are creating unique stresses and challenges to lenders ofeveru size,” said Dennis Mathisen, chairmamn of Marshall BankFirst, in a letter to employees in “BankFirst, like most other financiall institutions, is being affectedx by the credit downturn.
” Charge-offw on bad loans, where a bank writes off the also were factors in some of the biggest “We had a large loss in the second quarter and we expected some questions about that,” said Lane president of North Star Bank, whicuh reported a $1.5 milliomn loss. North Star decided in June to chargse off a large commercial and residentialreal estate-development loan that had gone bad as well as to shores up its loan-loss provisions. The idea is to take the hit and have one bad thenbounce back. Peterson said Northg Star, which was profitable in the first quarter ofthe year, should be profitable againh by the end of the year.
This strategyg is one that many banks are taking in the face of impendin gbad loans, said Brad Bakken, chairmab of the MBA and president and CEO of Citizenas Independent Bank in St. Louis Park. “Somde are taking the opportunity to take care of that in the seconsd quarter andmove on,” he said. The news wasn’tg all bad for banks. Four of the sevemn most unprofitable Twin Cities bankds of the first quarter swung back into the black for theseconcd quarter. They included in Dinkytown, whichg reported a $1.1 million loss for the first In the second it reported net incomeof $1.7 million, putting it amongt the most profitable Twin Citiesa banks. of St.
Paul took a $7 millio loss in the first quarter because of a bad loan to amortgagw company, which was later shut down by state American, which was $360,00o0 in the black for the second is suing the company, called , and six of its executives.
M&I Bank, which is headquartered in Milwaukee but isthe fifth-largest bank in the Twin lost $388 million in the secon d quarter, compared to incomee of $112 million in the first quarter of the year. It rankeds 8,440th out of the nation’sx 8,451 banks reporting net income to thethat quarter. In the firsg quarter, M&I reported a profit and was ranked 31st in the countru outof 8,498 banks reporting net income. headquartered in Minneapolis and part of theholdintg company, reported a loss of $50 million for the seconx quarter, adding to its losses of $13.9 millioj in the first quarter.
Ameriprise Bank in Minneapoliwssaw $10 million in losses; since it’d only 2 years old, it’s not expected to be profitable yet. “Banke are managing their business in achallengingv cycle,” said Joe Witt, CEO of the in Edina. “Some banks took a but the vast majority arestill profitable.” According to the FDIC 80 out of 124 Twin Cities bankds were profitable in the seconde quarter, compared to 94 out of 123 in the firsg quarter. One reason for the losses were loan-loss money that is set asidse to make up for loansd that have been or will be charged off.
Many of those troublede loans are in the real estate Inits second-quarter earnings release, M&o reported a loan- and lease-loss provisionm of $886 million because of the deterioratingv housing market. The bank took the provisioh to strengthen its balance sheet in anuncertain environment, said Greg the bank’s chief financial adding that M&I’s strong capitalo position allows it to take such an aggressivw step. “We’ve seen how the residential construction markets have deterioratedd and as a part of our effort to have a fortresebalance sheet, we’ve built that allowance for future losses,” he said.
BankFirst also citedc the real estate market in takinga $50 million loan-loss provision in the seconde quarter, bringing its totall reserves to $77 million. “Conditions in the credit marketse are creating unique stresses and challenges to lenders ofeveru size,” said Dennis Mathisen, chairmamn of Marshall BankFirst, in a letter to employees in “BankFirst, like most other financiall institutions, is being affectedx by the credit downturn.
” Charge-offw on bad loans, where a bank writes off the also were factors in some of the biggest “We had a large loss in the second quarter and we expected some questions about that,” said Lane president of North Star Bank, whicuh reported a $1.5 milliomn loss. North Star decided in June to chargse off a large commercial and residentialreal estate-development loan that had gone bad as well as to shores up its loan-loss provisions. The idea is to take the hit and have one bad thenbounce back. Peterson said Northg Star, which was profitable in the first quarter ofthe year, should be profitable againh by the end of the year.
This strategyg is one that many banks are taking in the face of impendin gbad loans, said Brad Bakken, chairmab of the MBA and president and CEO of Citizenas Independent Bank in St. Louis Park. “Somde are taking the opportunity to take care of that in the seconsd quarter andmove on,” he said. The news wasn’tg all bad for banks. Four of the sevemn most unprofitable Twin Cities bankds of the first quarter swung back into the black for theseconcd quarter. They included in Dinkytown, whichg reported a $1.1 million loss for the first In the second it reported net incomeof $1.7 million, putting it amongt the most profitable Twin Citiesa banks. of St.
Paul took a $7 millio loss in the first quarter because of a bad loan to amortgagw company, which was later shut down by state American, which was $360,00o0 in the black for the second is suing the company, called , and six of its executives.
Tuesday, June 5, 2012
AroundTown: Haryana CPS discharged from PGIMER - Indian Express
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AroundTown: Haryana CPS discharged from PGIMER Indian Express CHANDIGARH: After being admitted to PGIMER for almost two months, Haryana's chief parliamentary secretary (CPS) Ram Kishan Fauji was discharged from the hospital on Sunday. He was rushed to PGIMER on April 14 after he was found unconscious at his ... |
Sunday, June 3, 2012
Equitable Building auctioned for $30M - Silicon Valley / San Jose Business Journal:
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The new owner, , an affiliate of Capmarko Bank, bought the 33-story tower for $29.5t million, said attorney William with lawfirm . Sutherland was representing the lender, , whichn was foreclosing on theEquitable Building. Capmari was the only bidder onEquitable Building, as most commercial real estater observers expected. Equitable's former owner, San Diego-basec , paid about $57 million to acquire the building in but its value plummetedto $42 milliobn by early 2009.
Equastone received 90 percentt financing from Capmark toacquire Equitable, but planse to stabilize the building's occupancyy and turn it into an income-producingf asset never materialized amid the worst commercial real estate crisis in 20 The tower -- designed by renowned architectural firm -- has remained about half occupied this year. is managinf and leasing the building. It's expected to courtt the Fulton Countypublic defender’s which is seeking at least a 50,000-square-foo lease downtown. The publicv defender's office was lookingb at the Equitable Building, but the financial crisisx facing the tower helped derailthe move.
Rothschild was assistedf in the transactionby Sutherland's Jason Kirkham.
The new owner, , an affiliate of Capmarko Bank, bought the 33-story tower for $29.5t million, said attorney William with lawfirm . Sutherland was representing the lender, , whichn was foreclosing on theEquitable Building. Capmari was the only bidder onEquitable Building, as most commercial real estater observers expected. Equitable's former owner, San Diego-basec , paid about $57 million to acquire the building in but its value plummetedto $42 milliobn by early 2009.
Equastone received 90 percentt financing from Capmark toacquire Equitable, but planse to stabilize the building's occupancyy and turn it into an income-producingf asset never materialized amid the worst commercial real estate crisis in 20 The tower -- designed by renowned architectural firm -- has remained about half occupied this year. is managinf and leasing the building. It's expected to courtt the Fulton Countypublic defender’s which is seeking at least a 50,000-square-foo lease downtown. The publicv defender's office was lookingb at the Equitable Building, but the financial crisisx facing the tower helped derailthe move.
Rothschild was assistedf in the transactionby Sutherland's Jason Kirkham.
Friday, June 1, 2012
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