- Comerica Inc. to acquire Imperial Bancorp for 2.23 times revenue
The Deal: Comerica Inc. has agreed to purchase Imperial Bancorp in a stock swap valued at $1.2 billion. Comerica is seeking to increase its presence in the California banking market. The acquisition will launch Comerica from the 1 Ith-largest bank in California to the fourth spot. The bulk of Comerica's ......
- Gaspo back in CNY
SYRACUSE - James Gaspo, a veteran Central New York commercial lender who left the area earlier this year,. is back in Upstate. Gaspo has been hired by Citizens Financial, Group, Inc. - a Providence, R.I.-based, bankholding company with about $80 billion in assets and 900 branches in seven northeastern states ......
- To concentrate on urban areas...Washington Mutual seeks to own middle market
Washington Mutual Inc.'s planned acquisition of New Yorkbased Dime Bancorp Inc. will go down as its 10th purchase in the last half-dozen years, but probably won't be its last. Washington Mutual CEO Kerry Killinger says "substantial growth" lies ahead for the Seattle-based savings bank in both mortgage and consumer-banking operations....
- Analysts say FIB, Security healthier than
Chase.
Analysts say FIB, Security healthier than Chase Analysts who follow Security Pacific Corp. and First Interstate Bancorp say neither of Los Angeles County's largest banks face problems of the magnitude confronted by Chase Manhattan Bank. Cheryl Swaim, an analyst at Oppenheimer & Co. of New York, said neither one has ......
- Banks continue to seek an entrance into Long Island market
The metamorphosis of the Long Island banking scene continues. Six months ago, only two of the five largest banks in the United States did business here - the two New York behemoths, JPMorgan Chase and Citibank. Since September, however, Bank of America entered the scene when it wrapped up its ......
- Six bankers elected to CBA Board of Directors
Six bankers have been elected to the CBA Board of Directors, expanding its membership to 20, CBA President Joe Belew announced. New members are Frank J. Bonetto, Vice Chairman, Regional Banking Group, Bank of the West, Walnut Creek, Calif., Tom Coley, Vice Chairman, SouthTrust Corp., Birmingham, Ala., C. Gene Kirby, ......
- MEXICAN & U.S. REGULATORS APPROVE SALE OF BANAMEX
TO U.S.-BASED CITIGROUP.
Banking regulators and finance authorities in Mexico and the US have approved the controversial merger of Mexican banking giant Grupo Financiero Banamex Accival (Banacci) and US financial institution Citibank, a division of Citigroup. The two financial institutions announced their intention to merge in May of this year (see SourceMex, 2001-05-23)....