Despite major stock dip, Radian CEO not ready to counter rival’s strategic move
MGIC Investment Corp. said Monday that it was reducing its borrower-paid mortgage insurance premium rates by an average of 11 percent, sending its stock price and those of its rivals tumbling downward.
TCAP execs, directors to step down in $235M Barings deal
Securities filings disclosed by Triangle Capital Corp. late Monday make it official: Once the Barings deal closes, both the Raleigh firm’s management team and its directors are resigning.
Report: Wells Fargo faces fine of up to $1 billion
Wells Fargo & Co. will be subject to a record fine as high as $1 billion for auto insurance and mortgage lending abuses, according to a report from Reuters.
Citing what it says are three sources familiar with this situation, the news service said Mick Mulvaney, whom President Donald Trump picked in November to head the Consumer Financial Protection Bureau (CFPB) on an interim basis, is eying a penalty that would dwarf the agency’s previous record $142 million fine levied in response to the 2016…
Top of the List: Memphis’ Largest Community Banks
There were almost 100 total branches of Memphis-based community banks in 2017. And, there were $6.2 billion total deposits at those community banks.
MBJ's community banks list ranks each by total deposits as of Dec. 31, 2017, and it includes total assets, local branches, total branches, number of employees, holding company and top local executive.
Click the slideshow to see Memphis' largest community banks.
The full list of 21 banks, published in MBJ's April 6 edition, is available to subscribers…
Inside the market strategy of CenterState Bank’s Hillsborough president
At 31 years old, he's the bank's youngest market president.
Understanding the difference between a home equity line of credit and home equity loan
When Christel Ventura wanted to build a pool in her backyard, she chose to take out a home equity line of credit (HELOC) to help cover the costs. As the assistant vice president of consumer lending for GTE Financial in Tampa, Ventura was well aware of the differences between home equity loans and HELOCs, as well as the special introductory interest rate GTE was offering on its HELOCs.
“When I did the line of credit, it was interest-only and a 1.99 percent interest rate for the first 12 months,”…
Why the private equity climate is “insane” and “hyper competitive”
The panel discussion was hosted by the Arizona chapter of the Association for Corporate Growth, the global community for middle-market M&A deal makers and business leaders focused on driving growth.
Texas financial company to acquire parent of Bank of New Mexico
A financial holding company from Texas will soon take over the parent company of Bank of New Mexico.
Triumph Bancorp Inc., headquartered in Dallas, is paying about $134.5 million for the acquisition of First Bancorp of Durango Inc., parent company to Bank of New Mexico. Triumph's subsidiary, TBK Bank, has 53 branches in Texas, Colorado, Kansas, Iowa and Illinois.
First Bancorp of Durango, which holds around $646 million in total assets, according to the release, owns the First National Bank of…
Furniture and design firm Duet moving HQ to Walker’s Point
Furniture and interior design company Duet Resource Group is moving its headquarters and about 15 jobs to Walker’s Point in Milwaukee.
Baltimore preservation panel OKs 10-story apartment, retail project in Mount Vernon
A $35 million, 10-story apartment and retail development planned for historic Mount Vernon was given a green light by a city panel Tuesday.
After more than two hours of testimony, the design for the building at the corner of Eager and Cathedral streets was approved unanimously by the Commission for Historical and Architectural Preservation even though it exceeded height restrictions for new development in that part of the community. It will replace the existing Eddie's of Mount Vernon grocery store…