Thirty-Year Fixed Mortgage Rates Stay Relatively Steady; Most State Rates Remain Below 5.00% (Popularity:  )
The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages decreased one basis point last week to 4.86 percent, down from 4.87 percent the week prior, according to the Zillow Mortgage Rate Monitor, compiled by leading real estate Web site Zillow.comŽ. Rates for 15-year fixed mortgages fell one basis point to 4.31 percent from 4.32 percent, and 5-1 adjustable rate mortgages fell one basis point ...
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Dow Jones Economic Sentiment Indicator Rebounds; Rises to 36.9, Highest Level Since August 2008 (Popularity: )
The Dow Jones Economic Sentiment Indicator (ESI) rose to 36.9 in October, up from 34.1 in September as a result of positive media coverage of ongoing stock market gains and news that the gross domestic product rose at an annual rate of 3.5 percent in the third quarter. The gain in the ESI runs counter to unexpectedly large drops in two leading consumer-based economic indicators.
The Dow Jones Economic Sentiment Indicator ...
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Alliance Financial Corporation Announces Commencement of Underwritten Public Offering of Common Stock (Popularity: )
Alliance Financial Corporation (the "Company") (Nasdaq: ALNC), the holding company for Alliance Bank, N.A., (the "Bank") today announced its intention to commence a public offering of approximately $25 million of its common stock. The shares will be issued pursuant to a prospectus supplement filed as part of an existing shelf registration statement filed with the Securities and Exchange Commission ("SEC") on Form S-3 (File No. 333-161838). The Company expects to ...
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Sierra Vista Bank Reports 3rd Quarter 2009 Financial Results (Popularity: )
Sierra Vista Bank (OTC Bulletin Board: SVBA), recently announced its financial results for the Quarter ending September 30, 2009. Assets increased during the 3rd Quarter by $4.7 million to $91.9 million; deposits increased by $3.2 million to $75.7 million; and loans increased by $10.1 million to $72.0 million. Gregory Patton, President and CEO noted:
"There continue to be good clients looking for a lending or deposit home with bankers who understand ...
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S&P: All S&P 500 Index Mutual Funds Are Not Created Equal (Popularity: )
Investors have put billions of dollars into vehicles that seek to track the S&P 500 index and logic would dictate that one S&P 500 index fund would be just like the next S&P 500 index fund. Logic would be wrong.
After screening for mutual funds that seek to track the S&P 500 index, S&P Equity Research found wide variances in the performance, costs, and risks of S&P 500 index funds. The ...
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Home Prices Continue to Improve According to the S&P/Case-Shiller Home Price Indices (Popularity: )
Data through August 2009, released today by Standard & Poor's for its S&P/Case-Shiller(1) Home Price Indices, the leading measure of U.S. home prices, show that the annual rate of decline of the 10-City and 20-City Composites improved compared to last month's reading. This marks approximately seven months of improved readings in these statistics, beginning in early 2009.
The annual returns of the 10-City and 20-City Composite Home Price Indices, declined 10.6% ...
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Baylake Corp. Reports Financial Results for the Three and Nine Months ended September 30, 2009 (Popularity: )
* Net income grew to $0.8 million for the quarter ended 9/30/09.
* Net income per share grew to $0.11 for the quarter ended 9/30/09.
* Net interest margin increased 22 basis points to 3.19% for the quarter ending 9/30/09, compared to 2.97% for the quarter ended 6/30/09.
* Nonperforming loans decreased $11.1 million or 21.5% from the prior quarter.
* Allowance for loan losses increased to 2.07% of total ...
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Bank of America to Sell First Republic Bank to Investors (Popularity: )
Bank of America Corporation today announced it has signed a definitive agreement to sell First Republic Bank to a number of investors, led by First Republic's existing management, and including investment funds managed by Colony Capital, LLC and General Atlantic LLC.
The transaction is expected to close in the second quarter of 2010, subject to receipt of all regulatory approvals. Terms were not disclosed.
First Republic was acquired on Jan. 1, 2009 ...
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Deloitte Finds Baby Boomer Retirement Anxiety Spurring Innovative Retirement Income Programs in Wake of Financial Crisis (Popularity: )
Financial services companies are facing the risk that the retirement of the baby boomers will disrupt existing retirement businesses as retirees move assets out of current retirement accounts and into new, income-generating products. Companies hoping to capture a disproportionate share of this "money in motion" and establish a robust position in the retirement income market must first address internal issues around operations and products, according to Deloitte's Mining the Retirement ...
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Folsom Lake Bank Reports Strong 3rd Quarter Growth (Popularity: )
Folsom Lake Bank (OTC Bulletin Board: FOLB), announced unaudited financial results for the quarter ending September 30, 2009. The bank had record asset growth for the quarter increasing $14.3 million. The successful opening of the Roseville branch as well as planned growth in the Folsom branch both contributed to the strong growth. "We are right on target with the original three year business plan, and now looking at our second ...
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