Posts Tagged 'Banking'

AP: SBA has bought $2.1B in bad loans since 2007

Matt Wagner, SBJ ReporterIf you’re wondering why banks are a little gun-shy about making loans to any and every businessperson who walks through their doors, check out this investigative piece by The Associated Press.

Continue reading ‘AP: SBA has bought $2.1B in bad loans since 2007’

A strong financial day

Jeremy Elwood, SBJ ReporterWith all the negative news that could be written about the economy right now (just Google “Dow 5000” and you’ll see what I mean), it’s nice to be able to toss out some positive economic news.

So here goes.

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McClure leaves Division of Finance

Matt Wagner, SBJ ReporterEric McClure, a Rogersville resident who was appointed Missouri Division of Finance commissioner by former Gov. Bob Holden in January 2003, has left his post after six years, but my efforts to find out more about his departure have come up empty.

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Mid-Missouri Courts Arvest Bank

Matt Wagner, SBJ ReporterArvest Bank is sizing up Springfield-based Mid-Missouri Bank for possible acquisition, according to sources in the banking community.

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Bailout Bill Passes UPDATED

Jeremy Elwood, SBJ ReporterIt’s official – the federal government is spending as much as $700 billion in an attempt to bail out Wall Street.

“We have acted boldly to help prevent the crisis on Wall Street from becoming a crisis in communities across our country,” said President Bush shortly after signing the Emergency Economic Stabilization Act of 2008 into law.

Continue reading ‘Bailout Bill Passes UPDATED’

Financial Fallout Continues

Jeremy Elwood, SBJ ReporterWachovia is the latest bank to succumb to the pressure of the national financial crisis.

The bank announced this morning that its board agreed to a buyout from Wells Fargo & Co. The stock-for-stock deal will trade each share of Wachovia (NYSE: WB) for 0.1991 shares of Wells Fargo (NYSE: WFC), or roughly $7 per share.

Continue reading ‘Financial Fallout Continues’

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