Troubled Silicon Valley Bank Acquired by First Citizens
by Associated Press – 5 days ago
More than half of Silicon Valley's assets will remain in U.S. receivership.
More than half of Silicon Valley's assets will remain in U.S. receivership.
About half of U.S. adults in households earning less than $60,000 annually and about 4 in 10 of those in households earning $60,000 to $100,000 say they're very stressed by their personal finances.
Brown has more than two decades of banking experience and will lead efforts to expand relationships in Jonesboro.
Friday's report from the Commerce Department showed that consumer prices rose 0.3% from January to February, down from a 0.6% increase from December to January. read more >
Banks will need to start reporting the demographics and income of small business loan applicants under new rules. read more >
Banks have been slow to pass along better interest rates on traditional accounts to consumers, prompting a shift to money market funds, government bonds or other more lucrative investments. read more >
The U.S. Senate Finance Committee pointed to an ongoing, possibly criminal conspiracy tied to nearly $100 million in accounts. read more >
She replaces the retiring Tom Harps, who is stepping down after 17 years in the position. read more >
The government had previously estimated that the economy expanded at a 2.7% annual rate last quarter. read more >
The recent decline in mortgage rates is good news for prospective homebuyers. read more >
Regulators have said that Silicon Valley Bank was an "idiosyncratic'' case and that the overall U.S. banking system remains sound. read more >
Senate Republicans questioned whether new rules were needed and noted that the Fed had had the authority to force Silicon Valley to address its shortcomings. read more >
The registry will contain personal information on the owners of at least 32 million U.S. businesses as part of an effort to combat corruption. read more >
Experts say it's probably a good idea for small businesses to diversify funds and make sure they're in close contact with their banker, but emphasized that in the short term their bank accounts are safe because regulators have shown they're willing to step in when needed. read more >
Despite the uptick in confidence, the index remains below 2022's average level of 104.5. read more >
Michael Barr, the Fed's vice chair for supervision, said the bank failed to manage the risk of its bond holdings, which lost value as the Fed raised interest rates. read more >
Reading is a key to good leadership, especially when you tackle subjects that challenge your nature or your world view. read more >
The defense for a rancher who swindled Tyson Foods says he was addicted to futures trading by phone. read more >
The 133-unit apartment project in the Riverdale area of Little Rock was purchased by to MLG/LF Rivercliff LLC. read more >
About 46% of people are carrying debt from month to month, up from 39% a year ago, according to Bankrate.com, an online financial information site. read more >
Mortgage buyer Freddie Mac reported Thursday that the average on the benchmark 30-year rate fell to 6.42% from 6.6% last week. The average rate a year ago was 4.42%. read more >
She comes to Bank OZK from McGuireWoods LLP of Richmond, Virginia, where she was a partner and served as co-chair of the firm's fiduciary litigation practice. read more >
The Fed chair also underscored that the central bank remains focused on fighting high inflation, which could require additional rate hikes. read more >
Marla Johnson of LeapXL and Courtney Little of ACE Glass are the latest board appointees for the angel investing network. read more >
When two tech-linked U.S. banks failed this month, among the investors who lost millions were public-sector pension funds responsible for ensuring the retirements of teachers, firefighters and other government workers. read more >
It seemed like a good idea at the time: Red-state Democrats facing grim reelection prospects would join forces with Republicans to slash bank regulations — demonstrating a willingness to work with President Donald Trump while bucking many in their party. read more >
Only 10% of U.S. adults say they have high confidence in the nation's banks and other financial institutions, a new poll finds. That's down from the 22% who said they had high confidence in 2020. read more >
The White House is desperate to avoid any perception that average Americans are "bailing out" the two banks in a way similar to the highly unpopular bailouts of the biggest financial firms during the 2008 financial crisis. read more >
Most Fed watchers expect the central bank to announce on Wednesday afternoon a relatively modest quarter-point hike in its benchmark rate. read more >
Yellen, in her prepared remarks, says the government's intervention was necessary to "protect the broader banking system" and more rescue efforts could be necessary. read more >
Brown, who has more than two decades of banking experience, joined FNBC in 2022 as senior vice president. read more >
Companies that piled on debt throughout the pandemic and the economic recovery could be in for a tough road ahead as the bills come due. read more >
The search for causes and culprits — and solutions — is refocusing attention on a 2018 federal law that rolled back tough bank regulations. read more >
