Deposit insurance

East West Bancorp Reports Net Income for Full Year 2023 of $1.2 Billion and Diluted Earnings Per Share of $8.18; Increases Dividend by 15%

Retrieved on: 
Tuesday, January 23, 2024

Fourth quarter 2023 average loans of $51.3 billion grew $1.4 billion, or 3%, from the third quarter of 2023.

Key Points: 
  • Fourth quarter 2023 average loans of $51.3 billion grew $1.4 billion, or 3%, from the third quarter of 2023.
  • Full Year Earnings - Full year 2023 net income was a record $1.2 billion or $8.18 per diluted share, both up 3% year-over-year.
  • Fourth Quarter Earnings – Fourth quarter 2023 net income was $239 million, and diluted earnings per share (“EPS”) were $1.69.
  • Fourth quarter 2023 provision for credit losses was $37 million, compared with $42 million in the third quarter of 2023.

JPMorgan Chase Acquires Substantial Majority of Assets and Assumes Certain Liabilities of First Republic Bank

Retrieved on: 
Monday, May 1, 2023

JPMorgan Chase (NYSE: JPM) today announced it has acquired the substantial majority of assets and assumed the deposits and certain other liabilities of First Republic Bank from the Federal Deposit Insurance Corporation (FDIC).

Key Points: 
  • JPMorgan Chase (NYSE: JPM) today announced it has acquired the substantial majority of assets and assumed the deposits and certain other liabilities of First Republic Bank from the Federal Deposit Insurance Corporation (FDIC).
  • In carrying out this transaction, JPMorgan Chase is supporting the U.S. financial system through its significant strength and execution capabilities.
  • As part of the purchase, JPMorgan Chase is assuming all deposits – insured and uninsured.
  • “Our government invited us and others to step up, and we did,” said Jamie Dimon, Chairman and CEO of JPMorgan Chase.

State Street Announces Resolution Plan for 2021

Retrieved on: 
Tuesday, July 27, 2021

State Street Corporation (NYSE:STT) today announced that it has filed its 2021 resolution plan.

Key Points: 
  • State Street Corporation (NYSE:STT) today announced that it has filed its 2021 resolution plan.
  • State Street, along with other banking institutions, periodically prepares and files its resolution plan, commonly referred to as a living will, with the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation.
  • The resolution plan details State Streets efforts to enhance resolvability across its business in line with applicable rules and guidance.
  • The Public Section of State Streets resolution plan can be found in the Investor Relations section of its website, at http://investors.statestreet.com/ .

Republic First Bancorp, Inc. to Report Second Quarter Financial Results on July 23, 2021

Retrieved on: 
Friday, July 16, 2021

Republic Bank, a subsidiary of Republic First Bancorp, Inc., is a full-service, state-chartered commercial bank, whose deposits are insured up to the applicable limits by the Federal Deposit Insurance Corporation (FDIC).

Key Points: 
  • Republic Bank, a subsidiary of Republic First Bancorp, Inc., is a full-service, state-chartered commercial bank, whose deposits are insured up to the applicable limits by the Federal Deposit Insurance Corporation (FDIC).
  • The Bank provides diversified financial products through its thirty-two stores located in the Greater Philadelphia, Southern New Jersey and New York market place.
  • The forward-looking statements contained herein, are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected in the forward-looking statements.
  • All such statements are made in good faith by the Company pursuant to the safe harbor provisions of the U.S.

Farmers & Merchants Bank of Long Beach Reports 2021 Second-Quarter Results

Retrieved on: 
Wednesday, July 14, 2021

Farmers & Merchants Bank of Long Beach (OTCQB: FMBL) today reported financial results for the second quarter and six-months ended June 30, 2021.

Key Points: 
  • Farmers & Merchants Bank of Long Beach (OTCQB: FMBL) today reported financial results for the second quarter and six-months ended June 30, 2021.
  • Total interest expense for the 2021 second quarter was $3.1 million, compared with $6.7 million in the second quarter of 2020.
  • Walker, Farmers & Merchants Bank provides white-glove service to clients at 25 branches across Orange County, Long Beach, the South Bay and Santa Barbara, as well as through its Online and Mobile Banking platforms.
  • Farmers & Merchants Bank is a California state-chartered bank with deposits insured by the Federal Deposit Insurance Corporation (Member FDIC) and an Equal Housing Lender.

Highlights - Public Hearing with Elke König, Chairperson of the Single Resolution Board (SRB) - Committee on Economic and Monetary Affairs

Retrieved on: 
Thursday, June 24, 2021

Public Hearing with Elke Knig, Chairperson of the Single Resolution Board (SRB)

Key Points: 
  • Public Hearing with Elke Knig, Chairperson of the Single Resolution Board (SRB)
    Public Hearing with Elke Knig, Chairperson of the Single Resolution Board (SRB)
    Elke Knig, Chair of the Single Resolution Board, will make her second appearance in 2021 in the ECON committee from 11.00 on 1 July 2021.
  • She will present the annual report of the SRB for 2020, and Members will have the opportunity to ask questions on the resilience of banks in the wake of the pandemic and on the Commission's current review of the crisis management and deposit insurance framework.

Parke Bancorp, Inc. Announces Cash Dividend

Retrieved on: 
Wednesday, June 23, 2021

Parke Bancorp, Inc. was incorporated in January 2005, while Parke Bank commenced operations in January 1999.

Key Points: 
  • Parke Bancorp, Inc. was incorporated in January 2005, while Parke Bank commenced operations in January 1999.
  • Parke Bancorp and Parke Bank maintain their principal offices at 601 Delsea Drive, Washington Township, New Jersey.
  • Parke Bank's deposits are insured up to the maximum legal amount by the Federal Deposit Insurance Corporation (FDIC).
  • Parke Bancorp's common stock is traded on the NASDAQ Capital Market under the symbol "PKBK".

Flushing Financial Corporation Announces Investor Presentation For The Stockbroker Club With John R. Buran

Retrieved on: 
Monday, June 21, 2021

UNIONDALE, N.Y., June 21, 2021 (GLOBE NEWSWIRE) -- John R. Buran, President and Chief Executive Officer presented to The Stockbroker Club via webcast providing an overview of Flushing Financial Corporations business model and strategies on June 18, 2021.

Key Points: 
  • UNIONDALE, N.Y., June 21, 2021 (GLOBE NEWSWIRE) -- John R. Buran, President and Chief Executive Officer presented to The Stockbroker Club via webcast providing an overview of Flushing Financial Corporations business model and strategies on June 18, 2021.
  • A video of the presentation and the transcript are available in the investor relations section of our website at www.flushingbank.com .
  • FLUSHING FINANCIAL CORPORATION (Nasdaq: FFIC) is the holding company for Flushing Bank, a New York State-chartered commercial bank insured by the Federal Deposit Insurance Corporation.
  • Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements.

EQ Bank launches US Dollar Account for Canadians looking to get the most out of their money

Retrieved on: 
Thursday, June 10, 2021

"Our EQ Bank US Dollar Account solves several problems for Canadians: from combating notoriously low interest rates to figuring out a better way to send money to loved ones or move it between accounts," said Mahima Poddar, Group Head of Personal Banking at EQ Bank.

Key Points: 
  • "Our EQ Bank US Dollar Account solves several problems for Canadians: from combating notoriously low interest rates to figuring out a better way to send money to loved ones or move it between accounts," said Mahima Poddar, Group Head of Personal Banking at EQ Bank.
  • EQ Bank customers can open a US Dollar Account in just a few clicks.
  • As with all Equitable Bank and EQ Bank account products, US dollar deposits are eligible for Canada Deposit Insurance Corporation (CDIC) protection.
  • EQ Bank, the digital banking platform launched in 2016 by Equitable Bank (a federally regulated Schedule I bank), provides state-of-the-art digital banking services.

Ameriprise Financial Applies for a State Industrial Bank Charter

Retrieved on: 
Wednesday, June 2, 2021

Ameriprise Financial (NYSE: AMP) has filed an application to convert Ameriprise Bank, FSB to a state-chartered industrial bank (IB) regulated by the Utah Department of Financial Institutions (UDFI) and the Federal Deposit Insurance Corporation (FDIC).

Key Points: 
  • Ameriprise Financial (NYSE: AMP) has filed an application to convert Ameriprise Bank, FSB to a state-chartered industrial bank (IB) regulated by the Utah Department of Financial Institutions (UDFI) and the Federal Deposit Insurance Corporation (FDIC).
  • Converting to an IB charter will help the company align capital frameworks across its businesses to compete more effectively and efficiently.
  • At Ameriprise Financial, we have been helping people feel confident about their financial future for more than 125 years.
  • For more information, or to find an Ameriprise financial advisor, visit ameriprise.com .