International Business News - Bank http://www.ibtimes.com All articles are copyrighted by IBTimes.com 400 100 http://www.ibtimes.com/ http://www.ibtimes.com/images/top_logo_ibt2_3.gif Bank of America Corp. said its board approved a plan to repurchase up to 75 million shares of common stock. The board authorized management to spend up to $3.75 billion during the next 12 to 18 months to buy back the stock. http://www.ibtimes.com/articles/20080723/bank-of-america-board-approves-buyback-plan.htm Wed, 23 Jul 2008 18:01:54 EDT Bank of America Corp. on Wednesday declared a regular dividend of 64 cents. The dividend will be paid Sept. 26 to shareholders of record on Sept. 5. http://www.ibtimes.com/articles/20080723/bank-of-america-declares-dividend-of-64-cents.htm Wed, 23 Jul 2008 13:55:50 EDT New York Community Bancorp Inc. on Wednesday fell to a second-quarter loss, weighed down by a series of hefty charges related to debt refinancing and a lawsuit, and its first provision to cover bad loans in nearly 13 years. http://www.ibtimes.com/articles/20080723/new-york-community-posts-2q-loss-on-hefty-charges.htm Wed, 23 Jul 2008 10:02:53 EDT The chairwoman of the Federal Deposit Insurance Corp. said Tuesday more banks are in danger of failing, and that the government agency expects to raise premiums to restore its reserve fund after paying out billions of dollars to depositors at IndyMac Bank. http://www.ibtimes.com/articles/20080722/fdic-chair-says-more-banks-in-danger-of-failing.htm Tue, 22 Jul 2008 15:54:57 EDT Standard & Poor's Ratings Services said Monday Bank of America Corp.'s second-quarter earnings came in within its range of expectations, and will not affect its ratings on the company. http://www.ibtimes.com/articles/20080721/s-p-no-change-to-bank-of-america-ratings-after-2q.htm Mon, 21 Jul 2008 16:27:56 EDT THE PROFIT: Bank of America Corp.'s second-quarter profit fell 41 percent, but beat estimates. The Charlotte, N.C.-based bank's mortgage operations losses were offset by business in other parts of the company. http://www.ibtimes.com/articles/20080721/summary-box-bofa-2q-profit-falls-41-percent.htm Mon, 21 Jul 2008 15:27:56 EDT Among the earnings stories for Monday, July 21, from AP Financial News: Top stories: http://www.ibtimes.com/articles/20080721/earnings-roundup-bank-of-america-unionbancal.htm Mon, 21 Jul 2008 10:24:20 EDT Bank of America Corp. has become the latest in a string of big banks whose second-quarter earnings, while hurting from the impact of the credit crisis, still managed to beat Wall Street expectations. http://www.ibtimes.com/data/articleimgs/94872-bofa.jpg http://www.ibtimes.com/articles/20080721/bofa-profit-shrinks-beats-wall-street.htm http://www.ibtimes.com/articles/20080721/bofa-profit-shrinks-beats-wall-street.htm Mon, 21 Jul 2008 17:31:40 EDT Bank of America Corp. is expected to release second-quarter financial results on Monday. The report, due before the market opens, kicks off another week of earnings from the struggling banking sector. Crosstown rival, Charlotte-based Wachovia Corp., reports earnings Tuesday. http://www.ibtimes.com/articles/20080721/ahead-of-the-bell-bank-of-america-2q-earnings.htm Mon, 21 Jul 2008 06:07:39 EDT First Federal Bankshares Inc., the holding company of Vantus Bank, says its CEO has resigned. A company statement says Michael W. Dosland accepted a position with another company. He was president, CEO and a board member of the Sioux City-based banking company. http://www.ibtimes.com/articles/20080718/vantus-bank-ceo-resigns.htm Fri, 18 Jul 2008 17:24:12 EDT Old Line Bancshares Inc. said Friday its board of directors has authorized an addition of 100,000 shares to its stock repurchase program, bringing the company's total authorization to 500,000 shares. http://www.ibtimes.com/articles/20080718/old-line-bancshares-expands-stock-buyback.htm Fri, 18 Jul 2008 12:49:33 EDT M&T Bank Corp. said Friday it plans to open a commercial banking office in Canada, its first commercial office outside of the U.S. Pending final regulatory approval, M&T plans to open the office in the greater Toronto area by the end of the year. http://www.ibtimes.com/articles/20080718/m-t-bank-to-expand-into-canada.htm Fri, 18 Jul 2008 11:55:01 EDT Liechtenstein's LGT Group said Friday it would order an independent audit into its trust business, which came under fire from U.S. lawmakers for allegedly helping wealthy Americans hide billions of dollars from tax authorities. http://www.ibtimes.com/articles/20080718/liechtenstein-bank-orders-audit-of-trust-business.htm Fri, 18 Jul 2008 13:26:07 EDT European Central Bank President Jean-Claude Trichet has underlined the ECB's expectations that inflation will settle back to its target level in about 18 months and that the euro zone economy will return to moderate growth late this year. http://www.ibtimes.com/articles/20080718/ecb-sees-inflation-slowing-weak-growth.htm Fri, 18 Jul 2008 07:39:06 EDT Mercantile Bank Corp. said it will reduce its quarterly dividend by half to 4 cents per share, from 8 cents in the previous quarter. The company said its first priority is to preserve capital given the challenges facing it and the banking industry. http://www.ibtimes.com/articles/20080718/mercantile-bank-lowers-quarterly-dividend.htm Fri, 18 Jul 2008 07:11:05 EDT Among the earnings stories for Thursday, July 17, from AP Financial News: CHARLOTTE, N.C. (AP)--Bank of New York Mellon Corp. said Thursday its second-quarter earnings fell 31 percent, hurt by transaction charges and investment securities write-downs. Its shares fell more than 5 percent in morning trading. http://www.ibtimes.com/articles/20080717/earnings-roundup-bny-mellon-sherwin-williams.htm Thu, 17 Jul 2008 10:55:11 EDT Bank of New York Mellon Corp. said Thursday its second-quarter earnings fell 31 percent, hurt by transaction charges and investment securities write-downs. Its shares closed down more than 7 percent. http://www.ibtimes.com/data/articleimgs/93097-earns-bank-of-new-york-mellon.jpg http://www.ibtimes.com/articles/20080717/bny-mellon-2q-earnings-fall-31-pct.htm http://www.ibtimes.com/articles/20080717/bny-mellon-2q-earnings-fall-31-pct.htm Thu, 17 Jul 2008 16:33:04 EDT Credit ratings agency Fitch Ratings cut the issuer default rating of Bank of America Corp. and its banking subsidiary due to an expected drag on profitability because of continued deterioration in the credit and consumer lending markets. http://www.ibtimes.com/articles/20080716/fitch-cuts-bank-of-americas-default-rating.htm Wed, 16 Jul 2008 12:24:44 EDT Britain's competition watchdog said Wednesday that it would consider regulating the market in personal bank accounts if banks don't make their charges and interest rates clear. http://www.ibtimes.com/articles/20080716/uk-watchdog-wants-to-overhaul-bank-account-market.htm Wed, 16 Jul 2008 10:43:28 EDT Britain's competition watchdog said Wednesday that it would consider regulating the market in personal bank accounts if banks don't make their charges and interest rates clear. http://www.ibtimes.com/articles/20080716/uk-wants-to-overhaul-bank-account-market.htm Wed, 16 Jul 2008 05:06:49 EDT