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Prosperity Bank(R) to Acquire All Deposits of Franklin Bank From FDIC

the parent company of Prosperity Bank(R), announced that as of the close of business today Prosperity Bank will assume approximately $3.7 billion of deposits, including all uninsured deposits, from the Federal Deposit Insurance Corporation (FDIC), acting in its capacity as receiver for Franklin Bank. The FDIC was named receiver of Franklin Bank SSB. The FDIC entered into a purchase and assumption agreement with Prosperity Bank, which paid a premium to ensure that all deposits of Franklin Bank, both insured and uninsured, were transferred to Prosperity Bank. Beginning Saturday, November 8th, Prosperity Bank will provide banking services to Franklin Bank's former customers. Prosperity results from this acquisition as a Texas based bank holding company with over one-hundred seventy (170) banking locations across the state of Texas.

Stearns Bank N.A. Acquires All Insured Deposits of Alpha Bank & Trust in Alpharetta,...

Stearns Bank N.A. Acquires All Insured Deposits of Alpha Bank & Trust in Alpharetta, Georgia ALPHARETTA, Ga., Oct. 24 /PRNewswire/ -- Effective October 24, 2008 at 4:00 p.m. EDT, Stearns Bank N.A. headquartered in St. Cloud, Minnesota acquired all insured deposits of Alpha Bank & Trust located in Alpharetta & Marietta, Georgia. Insured depositors of Alpha Bank & Trust will automatically become depositors and customers of Stearns Bank and will retain uninterrupted services and access to their accounts. Stearns Bank is an independently owned financial institution established in 1912, under current ownership since 1964. Stearns Bank has grown to more than one billion dollars in assets with locations in St. Cloud, Edina, Albany, Holdingford, and Upsala, MN, along with Scottsdale, AZ.

CORRECTING and REPLACING Community Bankers Trust Corporation Welcomes The Community Bank, Loganville, Georgia (now operating as Essex Bank, a division of Bank of Essex) into the Bank of Essex Family

CORRECTING and REPLACING Community Bankers Trust Corporation Welcomes The Community Bank, Loganville, Georgia (now operating as Essex Bank, a division of Bank of Essex) into the Bank of Essex Family

DBS Bank appointment

DBS Bank has announced Mr Rahul Johri as the new head for its consumer banking division in India. Mr Rahul would also be a member of the Group Consumer Banking Executive Committee at DBS Bank. Mr Rahul brings with him extensive experience of consumer banking, having spent seventeen years of his career between ANZ Grindlays, Standard Chartered Bank and Barclays Bank. Prior to joining DBS Bank, Mr Rahul worked with Barclays Bank, India and held the post of Business Head - Retail Liabilities. He was part of the start-up team for Barclays Bank, India and also developed the alternate channel strategy for the retail bank. - Our Bureau

Russia's Alfa Bank says buys stake in smaller rival

MOSCOW, Nov 30 (Reuters) - Russia's Alfa Bank has bought a controlling stake in a distressed regional rival, it said in a statement on Sunday, further evidence that a global squeeze on credit is troubling Russia's sprawling banking sector. Alfa Bank, the country's biggest private bank, had been looking for takeover targets among Russia's 1,000 banks during the global economic downturn which has hit the Russian banking sector hard and forced it to consolidate. 'Today, Alfa Bank, has announced the acquisition of a controlling stake in leading bank Severnaya Kazna,' Alfa Bank said in a statement. 'In conjunction with the Central Bank of Russia and the Deposit Insurance Agency, Alfa Bank will make efforts to stabilise and strengthen the position of Severnaya Kazna in the Urals' banking sector.

HDFC Bank buying Catholic Syrian?

Is HDFC Bank close to buying Catholic Syrian Bank? The bank vehemently denies such a development, but financial industry sources say the Aditya Puri-led tech-savvy bank, which has already folded in Centurion Bank and through it, the erstwhile Bank of Punjab, could be hungry for the south-based bank to consolidate its nationwide hold. This could be the best time to go shopping as banks with stronger balance sheets seek size and scale.

Kuwaiti bank's chairman resigns over steep losses

The chairman of Gulf Bank resigned yesterday following the Kuwait bank's steep losses on derivatives, and the new chairman later announced the bank no longer deals in the financial instruments. Reportedly as high as 200 million dinars ($954.5-million), the loss prompted the Kuwait Central Bank to halt trading of the bank's shares Sunday, which sent shock waves through the Kuwait Stock Exchange and other Gulf markets. It also raised fears Kuwait had finally been hit by the global financial meltdown. Gulf Bank - the second-largest bank in the tiny Persian Gulf country - accepted the resignation of Bassam al-Ghanem as chairman, managing director and board member yesterday. He was replaced by his brother. GBK (Kuwait) fell 40 dinar to 950 dinar.

Kuwaiti bank's chairman resigns over steep losses

The chairman of Gulf Bank resigned yesterday following the Kuwait bank's steep losses on derivatives, and the new chairman later announced the bank no longer deals in the financial instruments. Reportedly as high as 200 million dinars ($954.5-million), the loss prompted the Kuwait Central Bank to halt trading of the bank's shares Sunday, which sent shock waves through the Kuwait Stock Exchange and other Gulf markets. It also raised fears Kuwait had finally been hit by the global financial meltdown. Gulf Bank - the second-largest bank in the tiny Persian Gulf country - accepted the resignation of Bassam al-Ghanem as chairman, managing director and board member yesterday. He was replaced by his brother. GBK (Kuwait) fell 40 dinar to 950 dinar.

Pacific Western Bank to Acquire All Deposits of Los Angeles-Based Security Pacific Bank From FDIC

today announced that its wholly-owned subsidiary Pacific Western Bank will assume the deposits, including all uninsured deposits, of Los Angeles-based Security Pacific Bank. At the close of business on November 7, banking regulators declared Security Pacific Bank insolvent and the Federal Deposit Insurance Corporation was named receiver. The FDIC approved the assumption of all deposits by Pacific Western Bank. The FDIC will retain substantially all of Security Pacific Bank's loan portfolio for later disposition.

Pacific Western Bank to Acquire All Deposits of Los Angeles-Based Security Pacific Bank From FDIC

today announced that its wholly-owned subsidiary Pacific Western Bank will assume the deposits, including all uninsured deposits, of Los Angeles-based Security Pacific Bank. At the close of business on November 7, banking regulators declared Security Pacific Bank insolvent and the Federal Deposit Insurance Corporation was named receiver. The FDIC approved the assumption of all deposits by Pacific Western Bank. The FDIC will retain substantially all of Security Pacific Bank's loan portfolio for later disposition.

Pacific Western Bank to Acquire All Deposits of Los Angeles-Based Security Pacific Bank From FDIC

SAN DIEGO, Nov. 7 /PRNewswire-FirstCall/ -- PacWest Bancorp today announced that its wholly-owned subsidiary Pacific Western Bank will assume the deposits, including all uninsured deposits, of Los Angeles-based Security Pacific Bank. At the close of business on November 7, banking regulators declared Security Pacific Bank insolvent and the Federal Deposit Insurance Corporation was named receiver. The FDIC approved the assumption of all deposits by Pacific Western Bank. The FDIC will retain substantially all of Security Pacific Bank's loan portfolio for later disposition.

Bank of Ireland shares rise as bidders approach

Bank of Ireland PLC, the country's biggest bank by assets, surged in Dublin trading as it received "unsolicited approaches" from bidders looking to buy stakes. The Dublin-based bank has made "no decision" after getting "approaches from a number of parties," it said yesterday. Buyout firms including J.C. Flowers & Co., the Carlyle Group and Irish hedge fund Cardinal Asset Management approached the Irish government about investing in the bank, the Irish Times reported yesterday. The bank said last week first-half profit slumped 32 per cent and that it will cut dividend payments to conserve capital as bad loans rise. The bank declined to name the suitors. BKIR (Dublin) rose 24 euro cents to €1.25 ($2.01).

Comerica Bank Announces $200,000 Grant to Oakland Business Development Corporation...

Comerica Bank Announces $200,000 Grant to Oakland Business Development Corporation for Loans to Small Businesses Celebration of Oakland Businesses at New Comerica Banking Center Features Mayor Ron Dellums, Rep. Barbara Lee, and Chinese Lion Dance Troupe OAKLAND, Calif., Oct. 29 /PRNewswire-FirstCall/ -- Comerica Bank announced a $200,000 grant to the Oakland Business Development Corporation for loans for small businesses. (Logo: here) The announcement was made Oct. 28 by Mike Fulton, president and CEO of Comerica Bank's Western Market at the bank's new Oakland banking center, which opened in August at 12th Street and Broadway in downtown Oakland. "It's all about forging community partnerships," Fulton told business and community leaders, bank executives and small business owners who had gathered at the new Comerica Bank banking center in

Federal Home Loan Bank of Atlanta Announces Third Quarter 2008 Operating Highlights

ATLANTA, Nov. 14 /PRNewswire/ -- Federal Home Loan Bank of Atlanta (the Bank) today released the results for the quarter ended Sept. 30, 2008. As of Sept. 30, 2008, the Bank had total assets of $213.7 billion, an increase of $24.8 billion, or 13.1 percent, from Dec. 31, 2007. This increase was primarily a result of increases in advances, federal funds sold, and held-to-maturity securities. Advances, the largest asset on the Bank's balance sheet, increased by $21.4 billion, or 15.0 percent, during this same period due to increased demand for advances during the last month of the third quarter as the Bank responded to its members' increased need for liquidity. The Bank reported a net loss of $46.1 million for the third quarter of 2008, a decrease of $179.

Shobhana Subramanian: The bank that Kamath built

KV Kamath, the CEO and managing director of ICICI Bank, is due to step down sometime next year. In the twelve years or so that he has been at the helm of affairs, the bank has more than cashed in on a huge growth opportunity that presented itself as the Indian economy grew stronger. The ICICI brand must be the envy of every banker in the country including State Bank which, many point out, doesn’t really connect with the younger lot — which will soon be the largest earning segment of our population. It’s not surprising that ICICI Bank’s home loan portfolio is bigger than that of State Bank. Before the ICICI stock got a drubbing, its market capitalisation too was higher than that of State Bank. For sure, it’s been a phenomenal success story.

State Closes Security Pacific Bank

SAN FRANCISCO--(Business Wire)-- California Department of Financial Institutions (DFI) announced today that regulators have closed Security Pacific Bank, citing inadequate capital. As of October 31, 2008, Security Pacific Bank, located in Los Angeles, had total assets of approximately $510 million and total deposits of approximately $440 million. The DFI has been closely monitoring the bank and had ordered it to increase its capital reserves to a safe and sound level. But efforts by the bank to do so were unsuccessful. Immediately following the closure, the DFI named the Federal Deposit of Insurance Corporation (FDIC) as receiver of the bank. Depositors of Security Pacific Bank are fully protected by the FDIC. For information about FDIC coverage limits and requirements, visit www.

SBT Extends Bank-to-bank RTGS To Customers

State Bank of Travancore (SBT) has extended its real time gross settlement (RTGS) remittance facility to customers from this week. The bank had gone live on RTGS with bank-to-bank remittances as early as July 16.

Franklin Bank becomes 18th US bank failure in 2008

WASHINGTON, Nov 7 (Reuters) - U.S. bank regulators closed Texas-based community bank Franklin Bank SSB on Friday, the 18th bank to fail this year as tough economic conditions and falling home prices take their toll on the financial industry.

Stearns Bank N.A. Acquires All Insured Deposits of Alpha Bank & Trust in Alpharetta, Georgia

ALPHARETTA, Ga., Oct. 24 /PRNewswire/ -- Effective October 24, 2008 at 4:00 p.m. EDT, Stearns Bank N.A. headquartered in St. Cloud, Minnesota acquired all insured deposits of Alpha Bank & Trust located in Alpharetta & Marietta, Georgia. Insured depositors of Alpha Bank & Trust will automatically become depositors and customers of Stearns Bank and will retain uninterrupted services and access to their accounts.

Stearns Bank N.A. Acquires All Insured Deposits of Alpha Bank & Trust in Alpharetta, Georgia

ALPHARETTA, Ga., Oct. 24 /PRNewswire/ -- Effective October 24, 2008 at 4:00 p.m. EDT, Stearns Bank N.A. headquartered in St. Cloud, Minnesota acquired all insured deposits of Alpha Bank & Trust located in Alpharetta & Marietta, Georgia. Insured depositors of Alpha Bank & Trust will automatically become depositors and customers of Stearns Bank and will retain uninterrupted services and access to their accounts.

Georgia's Alpha Bank & Trust becomes 16th bank to fail so far this year

SAN FRANCISCO (MarketWatch) -- The Federal Deposit Insurance Corporation said late Friday that Alpha Bank and Trust of Alpharetta, Ga., became the 16th bank failure of the year. FDIC was named receiver and entered into a purchase and assumption agreement with Stearns Bank of St. Cloud, Minn., to assume the insured deposits. As of Sept. 30, Alpha Bank & Trust had total assets of $354.1 million and total deposits of $346.2 million. End of Story

Philippines: Sterling Bank eyes 20% loan growth in 2009

STERLING Bank of Asia, a 20-month-old thrift bank, expects its loan portfolio to expand by 20 percent next year from the current P5 billion as it sees more financing opportunities during difficult times. To expand its operations, the bank is set to open its 17th branch next week and will put up six more within the next five months, president and chief executive Lamberto Villena said Wednesday night. The operating environment has turned much more difficult but when there is a problem, there is an opportunity especially for banks, Villena told reporters, after introducing the bank s ShopNPay Visa Card. Our loan portfolio can grow by 20 percent easily next year, he said. Villena said the bank expects to grow its consumer lending, which now accounts for about half the total loan portfolio, to 70 percent next year.

Central Bank to compensate for interbank lending losses

The Central Bank may sign the first agreements on compensation for banks' losses arising from operations on the interbank lending market, the Central Bank's First Deputy Chairman Alexei Ulyukayev told journalists during today's meeting in the State Duma. He noted that the bank had already prepared relevant regulations and created the system of risk distribution. Ulyukayev explained that the Central Bank would release a list of 200 or more banks and compensate part of the losses from deals with these banks. After the Bank of Russia has taken on a reasonable share of the risks, Ulyukayev added, banks will be able to operate more freely.

Serbia: Alpha Bank Serbia 9-mo profit at EUR 6.3 M vs EUR 0.8 M

Alpha Bank Serbia's pre-tax profit rose sharply in the first nine months of the year, to EUR 6.3 million, versus EUR 0.8 million in the respective period last year, the bank said. The bank's loan portfolio increased by 64% in the nine month period to EUR 880 million, providing the Serbian unit of Greek Alpha Bank with a 6.7% loan market share. Nine month deposit portfolio rose 37% on the year to EUR 388 million, the bank said.

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