by Jake Bernstein, ProPublica The FDIC assumed control of two more banks on Friday bringing the total number of bank failures for the year to 94. The banks were both subsidiaries of Irwin Financial Corporation of Columbus, Indiana. The FDIC estimates the total cost to the agency for the combined failures of Kentucky-based Irwin...
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SOUDERTON, Pa., – Univest Corporation (listed on NASDAQ: UVSP) demonstrated its ongoing support to the communities it serves by continuing to provide financial support totaling up to $175,000 to 91 nonprofit organizations during the second quarter of 2009. In addition to its contributions, Univest also received two prestigious awards through the Philadelphia Corporate Philanthropic...
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Boyertown, Pa. – August 31, 2009 – National Penn announced today a $5,300 contribution to Kutztown University Foundation. The donation was made under the Pennsylvania Educational Improvement Tax Credit (EITC) program, through which National Penn and its divisions are contributing more than $300,000 in 2009. National Penn’s donation will be administered through the Kutztown...
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In this issue: “Safe” Treasuries Face Increasing Interest Rate Risk Why 401(k) Investments Should Be Monitored Frequently Excessive Withdrawal Rates Can Hamstring Retirees Assessing Target-Date Funds Dynasty Trusts Attract the Interest of Farsighted Families Lifetime Income Products “Safe” Treasuries Face Increasing Interest Rate Risk (back to top) For fixed income investors, the impact that...
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The government’s foreclosure prevention plan is premised on the idea that the best way to prevent foreclosures is to work with mortgage servicers. The government offers a range of incentives to induce servicers to make loans affordable for struggling homeowners. Since subprime borrowers represent an outsized portion of those struggling to keep up on...
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Bank of America is the biggest mortgage servicer in the business. And judging by Treasury Department data, its customers searching for loan modifications are the most frustrated. Through the end of July, it had modified just 4 percent of its most delinquent loans eligible for the government’s foreclosure-prevention program – roughly 28,000 out of...
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Bank Failure Friday Texas Style by Jake Bernstein Four banks failed Friday bringing the total for the year to 81. The largest by far was Guaranty Bank. With assets of $13 billion, the Austin-based savings and loan is the third largest bank failure this year, behind Colonial BancGroup (assets: $25.5 billion) and BankUnited (assets:...
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