It's been an up-and-down week for Bank of America (NYSE: BAC ) , but mostly down: Share prices for the superbank are net 2.79% in the red over the last five days, with less than two hours to go on the last day of trading. Thank general market negativity for that, but also uncertainty over what could be the bank's most crucial legal battle yet.
Waiting for Bernanke
Firstly, the world waits to see when Federal Reserve chairman Ben Bernanke and his central-bank compatriots from Europe and Japan are going to turn off the money spigots that have spurred America's nascent economic recovery, kept Europe's recessions from turning into depressions, and offered a glimmer of hope that Japan will finally emerge from its decades-long doldrums.
Secondly, B of A investors are waiting to see what will come out of a trial ending today in a New York courtroom. At issue is a challenge to a 2011 settlement between B of A, AIG (NYSE: BAC ) , and other big investors over mortgage-backed securities issued by the superbank's problem child, Countrywide Financial.
Hot Industrial Disributor Stocks To Invest In 2015: Signature Bank (SBNY)
Signature Bank (the Bank) is a full-service commercial bank with 25 private client offices located in the New York metropolitan area serving the needs of privately owned business clients and their owners and senior managers. The Bank offers a variety of business and personal banking products and services through the Bank, as well as investment, brokerage, asset management and insurance products and services through its wholly owned subsidiary, Signature Securities Group Corporation (Signature Securities), a licensed broker-dealer and investment adviser. Through Signature Securities, it also purchases, securitizes and sells the guaranteed portions of the United States Small Business Administration (SBA) loans. The Bank offers a variety of deposit, escrow deposit, credit, cash management, investment and insurance products and services to its clients. As of December 31, 2011, the Bank maintained approximately 78,000 deposit accounts, 6,900 investment accounts, 8,600 loan accounts and 14,300 client relationships. In April 2012, it formed a new subsidiary, Signature Financial, LLC.
The Bank offers a range of products and services oriented to the needs of its business clients, including deposit products, such as non-interest-bearing checking accounts, money market accounts and time deposits; escrow deposit services; cash management services; commercial loans and lines of credit for working capital and to finance internal growth, acquisitions and leveraged buyouts; permanent real estate loans; letters of credit; investment products to help better manage idle cash balances, including money market mutual funds and short-term money market instruments; business retirement accounts, such as 401(k) plans, and business insurance products, including group health and group life products. It offers a range of products and services oriented to the needs of its high net worth personal clients, including interest-bearing and non-interest-bearing checking accounts, with optional features, such as debit/ autom! ated teller machine (ATM) cards and overdraft protection and, for its clients, rebates of certain charges, including ATM fees; money market accounts and money market mutual funds; time deposits; personal loans, both secured and unsecured; mortgages, home equity loans and credit card accounts; investment and asset management services, and personal insurance products, including health, life and disability.
Lending Activities
The Bank�� commercial and industrial (C&I) loan portfolio is consisted of lines of credit for working capital and term loans to finance equipment, company owned real estate and other business assets, along with commercial overdrafts. Its lines of credit for working capital are generally renewed on an annual basis and its term loans generally have terms of 2 to 5 years. The Bank�� lines of credit and term loans typically have floating interest rates, and as of December 31, 2011, approximately 61% of its outstanding C&I loans were variable rate loans. As of December 31, 2011, funded C&I loans totaled approximately 15% of its total funded loans. The Bank�� real estate loan portfolio includes loans secured by commercial and residential properties. It also provides temporary financing for commercial and residential property. As of December 31, 2011, funded real estate loans totaled approximately $5.74 billion, representing approximately 80% of its total funded loans. It issues standby or performance letters of credit, and can service the international needs of its clients through correspondent banks. As of December 31, 2011, its commitments under letters of credit totaled approximately $235.7 million. Its personal loan portfolio consists of personal lines of credit and loans to acquire personal assets. As of December 31, 2011, its consumer loans totaled $11.8 million, representing less than 1% of its total funded loans.
Investment and Asset Management Products and Services
Investment and asset management products and services are ! provided ! through the Bank�� subsidiary, Signature Securities. Signature Securities is a licensed broker-dealer. Signature Securities is an introducing firm and, as such, clears its trades through National Financial Services, Inc., a wholly owned subsidiary of Fidelity Investments. Signature Securities is also registered as an investment adviser in New York, New Jersey, Pennsylvania and Florida. It offers an array of asset management and investment products, including the ability to purchase and sell all types of individual securities, such as equities, options, fixed income securities, mutual funds and annuities. The Bank offers transactional, cash management type brokerage accounts with check writing and daily sweep capabilities. It also offers retirement products, such as individual retirement accounts (IRAs) and administrative services for retirement vehicles, such as pension, profit sharing, and 401(k) plans to its clients. Signature Securities offers wealth management services to its high net worth personal clients. Together with its client and their other professional advisors, including attorneys and certified public accountants, it develops a financial plan that can include estate planning, business succession planning, asset protection, investment management, family office advisory services, bill payment, art and collectible advisory services and concentrated stock services.
Sources of Funds
The Bank offers a variety of deposit products to its clients. Its business deposit products include commercial checking accounts, money market accounts, escrow deposit accounts, lockbox accounts, cash concentration accounts and other cash management products. Its personal deposit products include checking accounts, money market accounts and certificates of deposit. The Bank also allows its personal and business deposit clients to access their accounts, transfer funds, pay bills and perform other account functions over the Internet and through ATM machines. As of December 31, 2011, it main! tained ap! proximately 78,000 deposit accounts representing $11.70 billion in client deposits, excluding brokered deposits.
Insurance Services
The Bank offers its business and private clients an array of individual and group insurance products, including health, life, disability and long-term care insurance products through its subsidiary, Signature Securities. The Bank does not underwrite insurance policies. It only acts as an agent in offering insurance products and services underwritten by insurers.
Advisors' Opinion:- [By Ben Levisohn]
Each month, Credit Suisse’s small-cap strategists ask the firm’s analyst to name their favorite small- and mid-cap stocks. This month, six new stocks made the list: RPM International (RPM), SunCoke Energy (SXC), Zions Bancorp (ZION), Signature Bank (SBNY), Edwards Lifesciences (EW) and�Rexnord (RXN).
Top 5 Bank Companies To Invest In Right Now: Deutsche Bank AG (LBND)
Deutsche Bank AG is a global investment bank. The Company offers a variety of investment, financial and related products and services to private individuals, corporate entities and institutional clients around the world. The Company operates through such divisions as: Private and Business Clients, Asset and Wealth Management, Corporate Banking and Securities, Global Transaction Banking and Non-Core Operations Unit. Deutsche Bank AG is active domestically and in various countries, through the network of numerous branches. In February 2014, the Company and its related bodies corporate ceases to a share holder in the capital of the Company. Advisors' Opinion:- [By Donald van Deventer]
Long-duration Treasury Exchange-Traded Funds: (TLH), , (IEF), (DTYL), (DLBL), (ILTB), (TENZ), (ITE), (TLO), (EDV), (VGIT), (VGLT), (TMF), (TYD), (LBND), (UBT), (UST), (TMV), (TYO), (DSTJ), (DSXJ), (SBND), (PST), (DTYS), (DLBS), (TBF), (TTT), (TYNS), (TYBS), (TBX).
Top 5 Bank Companies To Invest In Right Now: CSB Bancorp Inc (CSBB)
CSB Bancorp, Inc. (CSB), incorporated in 1991, is a financial holding company. The Commercial and Savings Bank of Millersburg, Ohio (the Bank) is a wholly owned subsidiary of the Company. CSB operates primarily through the Bank and its other subsidiaries, providing a range of banking, trust, financial and brokerage services to corporate, institutional and individual customers throughout northeast Ohio. The Bank provides retail and commercial banking services to its customers, including checking and savings accounts, time deposits, individual retirement accounts (IRAs), safe deposit facilities, personal loans, commercial loans, real estate mortgage loans, installment loans, night depository facilities, brokerage and trust services.
Lending Activities
The Bank provides residential real estate, commercial real estate, commercial and consumer loans to customers located primarily in Holmes, Tuscarawas, Wayne, Stark and portions of surrounding counties in Ohio. Commercial loan rates are variable as well as fixed, and include operating lines of credit and term loans made to small businesses, primarily based on their ability to repay the loan from the cash flow of the business. Business assets, such as equipment, accounts receivable and inventory typically secure such loans. Commercial real estate loans are primarily secured by borrower-occupied business real estate. Commercial real estate loans are generally originated with a loan-to-value ratio of 80% or less. Commercial construction loans are secured by commercial real estate and in most cases the Bank also provides the permanent financing. Residential real estate loans carry both fixed and variable rates and are secured by the borrower�� residence. Home equity lines of credit are made to individuals and are secured by second or first mortgages on the borrower�� residence. Installment loans to individuals include loans secured by automobiles and other consumer assets, including second mortgages on personal residences.
Investment Activities
As of December 31, 2011, the Company�� securities available-for-sale totaled $123,026,000. Its portfolio of securities available-for-sale includes the United States treasury securities, the United States Government corporations and agencies, mortgage-backed securities, obligations of states and political subdivisions, equity securities, and corporate bonds.
Sources of Funds
As of December 31, 2011, the Company�� portfolio of deposits included noninterest-bearing demand, interest-bearing demand deposits, savings deposits and time deposits. Short-term borrowings consist of securities sold under agreements to repurchase, short-term advances through Federal Home Loan Bank and federal funds purchased.
Advisors' Opinion:- [By CRWE]
Today, CSBB remains (0.00%) +0.000 at $18.75 thus far (ref. google finance Delayed: 3:53PM EDT July 30, 2013).
CSB Bancorp, Inc. previously reported second quarter 2013 net income of $1.25 million or $.45 per basic and diluted share, as compared to $1.14 million or $.41 per basic and diluted share for the same period in 2012.
Annualized returns on average common equity (��OE�� and average assets (��OA�� for the quarter were 9.32% and 0.88%, respectively, compared with 8.98% and 0.82% for the second quarter of 2012.
Eddie Steiner, President and CEO commented, ��e continue to focus on growing relationships with current and new customers. The bank�� average loan balances have increased 10% in the past year, and although margins remain tight, this growth has provided increases of approximately 4% in net interest income.��/p>
Top 5 Bank Companies To Invest In Right Now: Barclays PLC (GRN)
Barclays PLC (Barclays) is a global financial services provider engaged in retail banking, credit cards, wholesale banking, investment banking, wealth management and investment management services. The Company�� operations include its overseas offices, subsidiaries and associates. The Company operates in eight segments: UK Retail and Business Banking (UK RBB), Europe Retail and Business Banking (Europe RBB), Africa Retail and Business Banking (Africa RBB), Barclaycard, Barclays Investment Bank, Barclays Corporate Banking, Wealth and Investment Management, and Head Office and Other Operations. Advisors' Opinion:- [By Brian Pacampara]
Based on the aggregated intelligence of 180,000-plus investors participating in Motley Fool CAPS, the Fool's free investing community, the iPath Global Carbon ETN (NYSEMKT: GRN ) has received the dreaded one-star ranking.
- [By Todd Shriber, ETF Professor]
Big winners (up at least 5%): VelocityShares 3x Inverse Natural Gas ETN (NYSE: DGAZ), iPath Global Carbon ETN (NYSE: GRN), ProShares UltraShort DJ-UBS Natural Gas (NYSE: KOLD) and the ProShares MSCI UltraShort Mexico (NYSE: SMK).
- [By Todd Shriber, ETF Professor]
Big losers (down at least 5%): Direxion Daily Gold Miners Bear 3X Shares (NYSE: DUST), iPath Global Carbon ETN (NYSE: GRN), iShares MSCI Emerging Markets Value ETF (NYSE: EVAL) and the PureFunds ISE Mining Service ETF (NYSE: MSXX).
No comments:
Post a Comment