JP Morgan Chase (JPM) has reportedly resumed talks with the U.S. as the bank is on the verge of a lawsuit concerning its representation of mortgage-backed securities it sold from 2005 through 2007.
The subprime mortgage crisis has been a hot topic since the Great Recession. JP Morgan, among other financial institutions, is in focus as the U.S. notified that institution that it is ready to file a formalized complaint. It seems unlikely that the case will ever go to court as it appears JP Morgan is quite eager to settle the matter and shoulder a hefty fine.
The hits just keep coming for JP Morgan as it is still dealing with the trading loss brought on by the “London Whale” as well as a lawsuit two years ago that stemmed from its acquisition of Bear Stearns.
Top 10 Safest Stocks To Own For 2015: Julius Baer Gruppe AG (BAER)
Julius Baer Gruppe AG (the Group) is a Switzerland-based private banking group, with an exclusive focus on servicing and advising private clients and independent asset managers. The Group has a global presence with approximately 50 locations in more than 25 countries and jurisdictions. Julius Baer Gruppe AG was established through spin off from Julius Baer Holding AG�� businesses into two independent entities, namely the Company, together with its subsidiaries, comprising Bank Julius Baer & Co Ltd as its principal operating entity, and GAM Holding, together with its subsidiaries, comprising GAM and the Julius Baer-branded asset management business, which includes the private label funds business that formerly was part of Julius Baer Holding Ltd�� Bank Julius Baer segment. The Group diversifies its operations into geographical segments, including Switzerland, rest of Europe, Americas, and Asia and Other Countries. Advisors' Opinion:- [By Corinne Gretler]
Julius Baer Group Ltd. (BAER) rallied 5.7 percent to 42.04 francs. Switzerland�� third-biggest wealth manager said increased client trading boosted margins as it integrated Merrill Lynch businesses acquired from Bank of America Corp. last year. The gross margin, which reflects how much the bank makes in revenue on managed client assets, rose to 102 basis points in the first half, from 98 basis points in the year-earlier period.
5 Best Bank Stocks To Own For 2014: Calwest Bancorp (CALW)
CalWest Bancorp owns South County Bank, National Association. The Company is the holding company for South County Bank N.A. South County Bank operates in four divisions: business solutions, professional division, personal services and online banking. Business solutions are engaged in deposit services, cash management solutions and loan services. Professional division is engaged in physicians, dentists, veterinarians, attorneys and certified public accountants. Personal services include deposit services and loan services. Online banking includes personal login, cash management login, cash management demos and user resources.
Business solutions
Deposit services include analysis checking, unlimited checking, interest checking, money market savings, sweep accounts, zero balance accounting, payroll services and merchant card processing. Cash management services include eCorp online banking, remote deposit, electronic payments, positive pay, mobile banking, cash vault and armored transport. Its loan services include business lines of credit, commercial term loans, commercial real estate loans, equipment loans, SBA financing, construction loans and accounts receivable financing.
Professional division
Veterinarians provide deposit services, cash management services and lending services. Attorneys and certified public accountants also include deposit services, cash management services and lending services
Personal services
Deposit services include online banking, checking, saving, money market, certified deposit and retirement accounts. Its loan services include overdraft protection, home equity lines and vehicle financing.
Advisors' Opinion:- [By CRWE]
Today, CALW remains (0.00%) +0.000 at $.370 thus far (ref. google finance 10:58AM EDT July 24, 2013).
CalWest Bancorp previously reported the consolidated financial results for the six months ended June 30, 2013. Significant items for the period ending June 30, 2013 include:
Quarterly net income of $50,000, compared to the previous quarter profit of $12,000;
No additional loan loss provision required; resulting in the allowance for loan loss (ALL) ratio decreasing slightly from 6.20% to 5.95%;
Total assets were flat at $144 million, with new business offsetting run-off;
Non-performing loans reduced significantly in 2013 by 41% quarter-over-quarter; and are down $1.9 million from a year ago;
Non-interest bearing deposits maintained at 35% of total deposits, helping reduce the Bank�� cost-of-deposits to 0.40% from 0.48% a year ago;
The increase in Net Interest Income offset the reduction in Non-Interest Income as increased focus is placed on core earnings;
Non-interest expenses continue to improve, decreasing 2% quarter-over-quartee
5 Best Bank Stocks To Own For 2014: MFC Industrial Ltd (MIL)
MFC Industrial Ltd., formerly Terra Nova Royalty Corp., is a global commodity supply chain company that sources and delivers commodities and materials to clients all over the world. The Company is engaged in the financing and risk management aspect of the business. The Company operates in three segments: commodities and resources, which includes its commodities activities and mineral interests; merchant banking, which includes structured solutions, logistics and financial services and investing activities, and other, which encompasses its corporate and other investments and business interests, including its medical supplies and servicing business. In December 2011, the Company acquired Pea Ridge Iron Ore Mine in Missouri, the Unites States of America. In September 2012, its indirect wholly owned subsidiary acquired the remaining interest in Compton Petroleum Corporation. In November, 2012, it acquired 70% interest in Park Ridge, NJ-based ACC Resources Co., L.P. (ACCR) and 60% interest in Mexico City-based Possehl Mexico S.A. de C.V. (Possehl). In April 2013, 0915988 BC Ltd acquired the entire share capital of MFC Industrial Ltd.
Commodities and Resources
The Company�� supply chain business is globally focused and includes its integrated commodities operations and its mineral interests. It conducts such operations primarily through its subsidiaries based in Vienna, Austria and supply various commodities, including minerals and metals, chemicals, plastics and wood products to its customers. Through its global commodity supply chain business, it also provides logistics, supply chain management and other services to producers and consumers of commodities. Its commodities operations include sourcing and supplying commodities. The Company sources its commodities from Asia, Africa, Europe, Australia, the United States and the Middle East. Its commodities sales include the European, Middle Eastern, Asian and North and South American markets.
Merchant Banking
The Company�� merchant banking operations include merchant banking and financial services, specialized banking, third-party financing and other services, investing and its real property. Its activities include making investments through investing its own capital to capture investment opportunities. The Company focuses on meeting the financial needs of small to mid-sized companies and other business enterprises primarily in Europe and Asia. Its merchant banking business generates revenues in the form of corporate and trade finance service fees and interest income. It also realizes gains from time to time on its investments, upon their sale, the execution of an equity or debt .
Other
Its other segment include its corporate and other investments, It includes financing joint ventures through its Shanghai, China-based subsidiary which provides medical services, equipment and supplies.
Advisors' Opinion:- [By Rich Duprey]
Global commodity supply chain company�MFC Industrial (NYSE: MIL ) announced yesterday its third-quarter dividend of $0.06 per share, the same rate it's paid for the past year.
- [By Tim Melvin]
Just last week I went around the world with a stock screener to see if any cheap and appealing stocks appeared. At the top of my international buy list right now is Canada-based�MFC Industrial (MIL). MIL has also shown up on my screen for “perfect stocks” since it trades below book value, is profitable and pays a dividend.
5 Best Bank Stocks To Own For 2014: Trico Bancshares (TCBK)
TriCo Bancshares (TriCo), incorporated on October 13, 1981, is a bank holding company that operates through its wholly owned subsidiary, Tri Counties Bank (the Bank). The Bank conducts a commercial banking business, including accepting demand, savings and time deposits, and making commercial, real estate and consumer loans. It also offers installment note collection, issues cashier's checks, sells travelers checks, and provides safe deposit boxes and other customary banking services. Brokerage services are provided at the Bank's offices by the Bank's association with Raymond James Financial Services, Inc., an independent financial services provider and broker-dealer. The Bank does not offer trust services or international banking services. Tri Counties Bank, TriCo Capital Trust I and TriCo Capital Trust II are the subsidiaries of the Bank. On September 23, 2011, the Bank acquired Bank of Northern California.
The Company is engaged in the banking business through 68 offices in 23 counties in Northern and Central California including ten offices in Shasta County, nine in Butte County, seven in Sacramento and Nevada Counties, six in Placer County, four in Stanislaus County, three each in Siskiyou, Sutter and Kern Counties, two each in Glenn and Yolo Counties, and one each in Contra Costa, Del Norte, Fresno, Lake, Lassen, Madera, Mendocino, Merced, Napa, Tehama, Tulare, and Yuba Counties. The Bank�� 76 automated teller machines (ATMs) are linked to several national and regional networks, such as CIRRUS and STAR. In addition, banking by telephone on a around-the-clock toll-free number is available to all customers. This service allows a customer to obtain account balances and most recent transactions, transfer moneys between accounts, make loan payments and obtain interest rate information. The Bank emphasizes on retail banking. Most of the Bank's customers are retail customers and small to medium-sized businesses. The Bank emphasizes serving the needs of local businesses, farmers and ranche! rs, retired individuals and wage earners.
Lending activities
The Bank conducts a commercial banking business, including accepting demand, savings and time deposits and making commercial, real estate, and consumer loans. It also offers installment note collection, issues cashier�� checks, sells travelers checks and provides safe deposit boxes and other customary banking services. Brokerage services are provided at the Bank�� offices by the Bank�� association with Raymond James Financial Services, Inc., an independent financial services provider and broker-dealer. The Bank concentrates its lending activities in four principal areas: real estate mortgage loans (residential and commercial loans), consumer loans, commercial loans (including agricultural loans), and real estate construction loans. The majority of the Bank�� loans are direct loans made to individuals, farmers and local businesses.
As of December 31, 2011 loans, including net deferred loan costs, totaled $1,551,032,000. As of December 31, 2011, total Real estate mortgage loans net deferred loan costs, were $ 965,922,000; total consumer loans were $ 406,330,000; total commercial loans were $ 139,131,000, and real estate construction loans were $ 39,649.
Investment Activities
The Bank classifies its investments as available for sale (AFS). As of December 31, 2011, investments consisted of corporate debt and debt securities of the United States government. As of December 31, 2011, the Bank�� securities portfolio consisted of obligations of the United States Government corporations and agencies, obligations of states and political subdivisions, and corporate bonds.
Sources of Funds
Most of the Bank's deposits are attracted from individuals and business-related sources. The various types of deposits offered by the Bank include non-interest-bearing demand deposits, interest-bearing demand deposits, savings deposits, time certificates of $100,000 and o! ver, and ! other time certificates. As of December 31, 2011, the Bank�� deposits totaled $ 2,190,536. The Bank participates in a deposit program offered by the State of California whereby the State may make deposits at the Bank�� request subject to collateral and creditworthiness constraints.
The Company had $8,527,000 of other collateralized borrowings as of December 31, 2011. The Company maintains a collateralized line of credit with the Federal Home Loan Bank of San Francisco. Other collateralized borrowings are generally overnight maturity borrowings from non-financial institutions that are collateralized by securities owned by the Company. The Bank had available unused correspondent banking lines of credit from commercial banks totaling $5,000,000 for federal funds transactions as of December 31, 2011.
Advisors' Opinion:- [By Rich Duprey]
California-based�TriCo Bancshares (NASDAQ: TCBK ) announced today its second-quarter dividend of $0.11 per share, a 22% increase over the $0.09 per share payout it made last quarter.
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