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bizjournals Banking & Financial Services:General headlines
Banking & Financial Services:General headlines from the week of November 17, 2008
  • Thornburg completes stock exchange
    Thornburg Mortgage Inc. has completed its long-delayed exchange offer for its preferred stock, setting the stage for improved terms with partners in the $1.35 billion financing transaction that rescued the company in late March.
  • Steve & Barry’s to liquidate
    Steve & Barry's stores will liquidate by early 2009 after its new owners said they would not be able to find financing, Reuters is reporting.
  • Sandy Spring Bank gets $83M TARP infusion
    Sandy Spring Bancorp Inc., the parent company of <a href="http://washington.bizjournals.com/washington/gen/Sandy_Spring%20Bank_CA1C2C12CE0D4BE18D805537243733A8.html"><strong>Sandy Spring Bank</strong></a>, has been notified by the Treasury Department that it will be getting a capital infusion of up to $83 million through the Troubled Asset Relief Program.
  • Union Bankshares to raise $60M in capital
    Union Bankshares Corp. is looking to raise up to $60 million in capital, according to a Friday securities filing. (UBSH)
  • U.S. markets seek rebound Friday
    U.S. stock markets reached to erase recent losses Friday after a Thursday selloff left the Standard &amp; Poor&#39;s 500 Index at an 11-year low.
  • Report: Citigroup weighs potential sale
    Citgroup executives, faced with a plunging share price, began weighing the possibility of auctioning off pieces of the financial giant or even selling the company outright, <em>The Wall Street Journal</em> reported late Thursday, citing people familiar with the situation. (MS) (GS) (WFC) (WB)
  • Freddie Mac gets NYSE notice
    Freddie Mac could lose its listing on the New York Stock Exchange if it doesn&rsquo;t boost its per-share price above $1. (FNM)
  • Escalon sells $1.1M in stock
    Escalon Medical Corp. said Friday it has completed a $1.1 million private placement of common stock and common stock purchase warrants. (ESMC)
  • LendingTree signs deal with IBM
    LendingTree has signed a multi-year contract with IBM Corp. for mortgage-loan fulfillment services. (IBM)
  • FDIC chair Bair: More 'ammunition' coming to strengthen banks
    Federal Deposit Insurance Corp. Chairman Sheila Bair is an optimist.
  • LendingTree inks deal with IBM
    LendingTree has signed a multi-year contract with IBM Corp. for mortgage-loan fulfillment services. (IBM) (TREE)
  • Infinity stock jumps after financing news
    Infinity Pharmaceuticals, Inc. (Nasdaq: INFI) saw its stock price jump 6.8 percent, to $5.65, on news of a stock sale and new financing for research.
  • Raymond James applies for federal funds
    Raymond James Financial Inc. wants to be part of the federal government&rsquo;s $700 billion financial program. (RJF)
  • U.S. markets seek rebound Friday
    U.S. stock markets reached to erase recent losses Friday after a Thursday selloff left the Standard &amp; Poor&#39;s 500 Index at an 11-year low.
  • Freddie Mac gets NYSE notice
    Freddie Mac could lose its listing on the New York Stock Exchange if it doesn&rsquo;t boost its per-share price above $1. (FNM)
  • Steve & Barry’s to liquidate
    Steve &amp; Barry&#39;s stores will liquidate by early 2009 after its new owners said they would not be able to find financing, Reuters is reporting.
  • Cuisine Solutions to buy back stock
    Cuisine Solutions Inc. announced plans Friday to buy back up to 3 million shares of its stock.
  • U.S. markets seek rebound Friday
    U.S. stock markets looked to erase recent losses Friday after a Thursday selloff left the Standard &amp; Poor&#39;s 500 Index at an 11-year low.
  • U.S. markets seek rebound Friday
    U.S. stock markets reached to erase recent losses Friday after a Thursday selloff left the Standard &amp; Poor&#39;s 500 Index at an 11-year low.
  • TD Bank Financial 4Q earnings to plummet
    TD Bank Financial Group said it expects to report earnings per share of 96 cents in the fiscal fourth quarter, ended Oct. 31. The company earned $5.48 per diluted share in the year-earlier period. The lower earnings are the result of heavy losses in its wholesale banking and corporate segments, the bank said. (TD)