(Crain’s) — Federal banking regulators are seeking bidders for as many as seven troubled local banks, including Rockford-based Amcore Bank. Bids for Amcore are due April 15 to the Federal Deposit Insurance Corp., Crain’s has learned.
Posts Tagged ‘Loan Losses’
Feds seek bids for up to seven Chicago-area banks
March 11th, 2010 
Before You Invest 
Posted in Finance Fraud 
Tags: Amcore Bank, Asset Bank, Bank Transaction, Bidders, Broadway Bank, Chicago Area, Corus Bank, Equity Groups, Fdic, Federal Deposit Insurance, Federal Deposit Insurance Corp, Investor Groups, Loan Losses, Local Bank, Northern Illinois, Private Equity, Real Estate Loans, Seizure, Senate Nominee, U S Senate 
Comments OffDiscover Financial hikes exec salaries in response to bailout restrictions
February 23rd, 2010 Before You Invest
Discover Financial Services Inc.
Posted in Finance Fraud Tags: 30 Million, Bailout, Base Salaries, Base Salary, Chief Operating Officer, Company Stock, David Nelms, Executive Salaries, Guthrie, Hochschild, Holding Periods, Loan Losses, Preferred Shares, Proxy Statement, Riverwoods Illinois, Senior Executives, Senior Management, Top Lieutenants, Treasury Department, Visa Network Comments OffMB Financial rejiggers CEO Feiger’s pay to meet TARP rules
December 7th, 2009 Before You Invest (Crain’s) — MB Financial Inc. CEO Mitchell Feiger will see his salary jump 58% to $1.1 million next year as the Chicago-based bank holding adjusts senior executives’ pay to reflect the inability to pay bonuses, a restriction the federal government imposes on lenders participating in the bailout program.
In addition, Chief Financial Officer Jill York will get a $156,000 raise to $450,000, the bank disclosed in a Securities and Exchange Commission filing late Monday.
The bank is trying to inject a performance-based component into the pay raises by making 60% of the increases in company stock.
Posted in Finance Fraud Tags: Acquirer, Bailout, Bonus Payments, Capital Position, Chief Financial Officer, Company Stock, First Nine Months, Jill York, Loan Losses, Lucrative Deals, Mb Financial Inc, Mitchell Feiger, Pension Contributions, Preferred Shares, Regulators, Restricted Stock Awards, Securities And Exchange Commission, Senior Executives, Treasury Department, Vests No Comments »International Monetary Fund now estimates global bank losses at $3.4 trillion
November 8th, 2009 Before You Invest The International Monetary Fund (IMF) has reduced its estimate of global bank losses by $600 billion – but warned the new figure of $3.4 trillion could rise further due to high unemployment rates across the world pushing up loan losses.
Rising security values combined with a new way of calculating losses are to thank for the improvement on the original $4 trillion deficit calculated in April.
But the IMF says that around another $1.5 trillion worth of loan writedowns will hit banks by the end of 2010.
Posted in Finance Fraud Tags: Banks, Brink, Earnings, Economic Recovery, Financial Institutions, Financial Meltdown, Global Bank, Global Financial Stability, Global Financial Stability Report, Government Support, Imf Report, International Monetary Fund, International Monetary Fund Imf, Jose Vinals, Loan Losses, Policymakers, Public Purse, Reuters, Trillion, Unemployment Rates No Comments »Five banks shut down by regulators on Friday
August 1st, 2009 Before You Invest
Mutual Bank was closed Friday by the Illinois Department of Financial Professional Regulation’s division of banking, which appointed the Federal Deposit Insurance Corp.
Posted in Finance Fraud, bank shut downs Tags: Bancorp, Bank Failures, Cease And Desist Order, Delinquent Loans, Deposit Insurance Fund, Fdic Estimates, Federal Deposit Insurance, Federal Deposit Insurance Corp, Federal Reserve Bank, Federal Reserve Bank Of Chicago, First Three Months, First United, Garland Texas, Illinois Department, Illinois Inc, Loan Defaults, Loan Losses, Professional Regulation, Regulators, Regulatory Action No Comments »
