Study and Overview of Affinity Bank Finance Essay

The California Department of Financial Institutions (DFI) say that controller have closed Affinity Bank, citing not enough funds. The DFI has been strictly checking the bank because of its insufficient funds level. The DFI had planned it to boost its capital treasury to a safe and sound level but efforts by the bank to do so were failed. The bank was integrated in 1982 and is based in Ventura, California. instantly following the shutting down, the DFI named the Federal Deposit Insurance Corporation (FDIC) as Receiver of Affinity Bank. The depositors of Affinity Bank are sheltered by the FDIC. The FDIC has received a bid from Pacific Western Bank, San Diego to guess the deposits and significantly all the assets of Affinity Bank. Pacific Western Bank is the second largest bank based nearby and took most of the assets and deposits of Affinity Bank based in Ventura, after the Federal Deposit Insurance Corporation. deemed Affinity's capital levels insufficient. Affinity Bank was acquired by Pacific Western Bank on August 28, 2009. Affinity Bank proffer personal and business banking products and services. Affinity Bank was previously acknowledged as Affinity Thrift & Loan and changed its name to Affinity Bank in September 1997. Affinity Bank televise the sponsorship of Lucas Johnston and Michelle Mercado to vice leader, Regional Managers for the bank's Southern California branch structure. Mr. Johnston will be in charge for the branches situated in Ventura-Downtown, Camarillo, Encino and Pacific Palisades and Ms. Mercado will administer the Ventura-Midtown and Thousand Oaks branches, in addition to the Telephone Banking center situated in Ventura. Mr. Johnston first attached the bank in 2004 someplace he serve as its Savings management Training Manager at the bank's head office. He then was uphold to serve as helper vice president, Branch Manager for the Camarillo location-leading the branch in growing over $40 million in deposits-and then reposition to the bank's Ventura-Downtown branch where he again stand out in serving the bank's clients. Ms. Mercado attached the bank in 2008 where she served as the assistant vice president, Branch Manager for the Ventura-Midtown branch. During her meeting with the bank, Ms. Mercado help out the branch produce over $55 million in deposits. Pacific Western is the major unit of parent PacWest Bancorp and it has raise $150 million in year 2009 for achievement, but it really did not need much of those money for this FDIC-assisted deal. In fact, Pacific Western get $79 million in cash for Affinity's assets and deposits, and must see its own capital stage increase thanks to the agreement. Thus, Affinity's bulging portfolio of problem loans finally spell the execution of the 10-office bank, according to current magazine reports. As of the second quarter, similarity had 10 percent of loans in nonaccrual status. For the first six months of the year, the bank lost $41.3 million, compare with a net loss of $10.6 million for the like period of 2008. In additions, the sufferers cause Affinity's total risk-based assets to fall off to 3.3% compared with June 2008 when its fraction was actually on top of 10 percent, meaning it classify as a well-capitalized lender. Pacific Western Bank is already together with on the Affinity deal to generate a net after-tax gain of $45 million. Therefore, it is combined with the lower risk linked with the problem loans it's taking (due to the loss sharing arrangement with the FDIC) and it will also boost the bank's already healthy capital ratios. Pacific Western Bank, also known as Pacific Western National Bank, supply banking services to private, business, saleable, and private clients. The bank gave financial products such as individual banking clarifications, retreat plans, personal loans and overdraft protection, savings bonds, legal representative public service, and mortgage broker services.

Alliance & Leicester

Alliance & Leicester present deposit and lending services right through the UK. Its biggest sector is its traditional savings and residence mortgage business, but the corporation also provide checking accounts, credit cards, and customer finance, as well as saleable services such as money administration and asset investment. The company has coalition with such firms as Legal & General and Zurich to offer investment and insurance products. Alliance & Leicester's just about 5.5 million retail customers can entry the bank through more than 300 branches, 2,500 ATMs, and 14,000 post offices all over the UK. Alliance & Leicester plc was founded in 1852 and is based in Narborough, the United Kingdom. Alliance & Leicester plc was a subsidiary of Banco Santander, S.A. Later. Besides, it will be rename as Santander by the end of 2010. Alliance & Leicester plc, together with its subsidiaries and offers a variety of private financial services in the United Kingdom. The corporation also recommend banking and financial services to business and public sector clientele. Besides, its retail banking products contain current accounts, savings accounts, loans, mortgages, credit cards, retail savings accounts, including on-demand accounts, notice accounts, and investment accounts, insurance products, Internet banking and other services. The company's corporate banking services include loans, deposits, trade finance, and supplier payment clarifications to small and medium-sized companies. Alliance & Leicester plc operates as a subsidiary of Santander UK plc, a subsidiary of Banco Santander, S.A. on 14 July 2008. Furthermore, the panel of A&L optional that shareholders be familiar with a invasion bid from Banco Santander for about £1.26 billion. This reference was ratify by shareholders at meetings on 16 September 2008. The takeover took effect on 10 October 2008 when shares of the company were delisted from the London Stock Exchange. On August8, 2008 Alliance & Leicester Commercial Bank is rolling out a prepaid card expenses solution for local establishment in the wake of the government's scheme to shift payment of housing benefit to applicant, as opposite to their landlords. The prepaid card scheme will allow local establishment to save up to 75% of their dealing out costs for the payment of housing payback, as well as remove the-on average-10% charge to the receiver when exchange checks to cash. The prepaid card solution is mainly aimed at the 800,000 UK citizens who receive housing benefit, while being classified as unbanked. The card aims at not only supporting the local authority in its efforts towards financial inclusivity for all recipients, but also ask for to get better effectiveness and boost the services that can be obtainable to the unbanked advantage applicant through advanced functionality. Moreover, Alliance & Leicester Commercial Bank has start a new limited edition 12-month fixed rate business link, accessible to businesses with a income of up to £1 million on September 6, 2009. Moreover, Alliance & Leicester plc work as a auxiliary of Santander UK plc, a subsidiary of Banco Santander, S.A. on 14 July 2008. The new bond has full-grown on July 1, 2010. This new business bond is accessible for business savings of between £50,000 and £2 million. The bank move its business into Santander UK on 28 May 2010 following a hearing at the Royal Courts of Justice and during 13 May 2010 as part of the procedure restricted by the Financial Service and Market Act 2000. Until this time Alliance & Leicester was as a break up organization with its own banking license even as at the same time transfer client accounts to the Parthenon software system. In January 2010, Abbev and the Brdford & Bingley savings business were rebranded. Branches of Alliance & Leicester will be rebranded by the end of 2010.

Dexia

Dexia SA is a Belgian-based bank that central point on Public and extensive Banking, provided that local public finance player with broad banking and financial resolution, and on vend and Commercial Banking in Europe, mainly Belgium, Luxembourg and Turkey. The company's products and services for persons include accounts for individuals, endorsed overdraft on individual accounts, bonus saving accounts, children savings accounts, customer loans, credit card VISA, deposit accounts, Dexia loans, Dexia loans secured with real estate, definite products, insurance, investment book and services, mortgage, mortgage for young people, treasury products, and savings accounts and books. It also offer a variety of products and services, plus accounts for corporate, accounts for municipalities, bank information, customs debt-information intermediation, credit financing, deposit account, documentary transactions, asset services, loans to doctors, night depository, project financing, packages of services for small and medium project, packages for municipalities, advisory service, and POS terminals to entrepreneurs and metropolis. The commercial franchises in France, Belgium, Luxembourg, Italy and the Iberian Peninsula markets are core markets for Public and Wholesale Banking. Dexia also has a presence in Germany, Japan and Switzerland to retain platforms for right of entry to funding capital. Moreover, Dexia bank offer individual and trade banking, as well as investment, business, and metropolis financial products and services in Slovakia and the Retail and Commercial Banking line comprise asset organization and investor services activities. The investor services business is carry out by RBC Dexia Investor Services, a joint scheme with Royal Bank of Canada, which offers its capability in worldwide detention, retirement fund administration and shareholder services to institute around the world. In addition, the corporation provide a combination of services consisting of payment cards, payment system, Dexia mutual finances, cheques, safe boxes, and term deposit with deposit period. As of December 31, 2008, it work 53 branches and 85 mechanical teller machines. The company was founded in 1992 and is headquartered in Zilina, Slovakia. Dexia bank Slovensko is a subsidiary of Dexia Kommunalkredit Bank. In March 2009, the corporation sell to Experta Trust Services Jersey Ltd. Dexia came under stress during the crisis in the banking sector on September 29, 2008. Besides, other banks and financial institutions discarded to offer further credit to Dexia because of possible losses at its U.S. subsidiary FSA and from a multi-billion loan to troubled German ban Depfa. The next day the ranking agency Moody's downgraded Dexia's long term money owing and deposits ratings from Aa1 to Aa3 and downgraded the individual bank's strengths to C with a negative outlook. At the end of 2008 Dexia sold the in good physical shape parts of FSA, ceased its trading activities in Paris and trading on its own account in the financial markets. Further losses are still possible on the remaining FSA portfolio. On February 2009, the bank announced net losses of 3.3 billion Euros for 2008. The Dexia 2008 yearly report mention among others losses of 1.6 billion from selling FSA, 600 million on portfolios and A¢”šA¬800 million on counterparties. Dexia's divide price fell to an all-time low of ¬1.21, a loss of over 90% in a year on March5, 2009. A extra reformation plan was publicize, with the compact endeavoring to focus on its main actions, and to keep away from risks on the financial markets. A total of 1,500 job cuts were proclaim of which more than half were in Belgium, 260 in France, and the rest global. Dexia's share price accordingly improved over the rest of 2009, mostly unreliable in between. Dexia could announce that the European payment had under certain conditions, accepted of the reformation plan that was necessary to rationalize the government support for Dexia and to prevent unfair competition On 6 February 2010.

Sovereign Bank

Sovereign Bank proffer an variety of banking products and services in the United States. The company also provides services, such as payment and reconcilement, cash management checking, Escrow services, account reconciliation, collections, and online check deposit; and government banking accounts, union banking accounts, insurance, and benefits consulting. In addition, it proffer online banking services. Sovereign Bank was previously acknowledged as Sovereign Bank, A Federal Savings Bank. The corporation was founded in 1902 Sovereign Bank function as a subsidiary of Independence Community Bank Corp. and Santander Holdings USA, Inc. Sovereign Bancorp, Inc. is the parent corporation of Sovereign Bank and it is a financial institute with $87 billion in assets as of September 30, 2007. Headquartered in Wyomissing, Pa., with major markets in the Northeast United States, Sovereign Bank has nearly 750 community banking offices, more than 2,300 ATMs and about 12,000 team members. ruler offers a wide array of financial services and products as well as retail banking, business and corporate banking, cash management, capital markets, wealth management and insurance. Sovereign is the 18th largest banking institution in the United States. Spanish bank Banco Santander, S.A. will obtain Sovereign Bancorp in a stock-for-stock deal valuable at about $1.9 billion, the corporation say October 16, 2008. in the conditions of the compliance, Sovereign shareholders will get 0.2924 Banco Santander American Depository Shares (ADSs) for every 1 share of Sovereign ordinary stock they own. Based on the closing stock price for Santander ADSs on Friday, the transaction is esteemed at about $1.9 billion, or $3.81 per share. Santander, the major bank in the euro zone by market capitalization, at present owns 24% of Sovereign's normal exceptional shares. Thus, the contract is theme to requisite bank narrow approvals in the U.S. and Spain and endorsement by both company's shareholders. Moreover, Sovereign's parent corporation tap previous Chittenden company CEO Paul A. Perrault to swap Joseph P. Campanelli, effective Jan 3, 2008. Sovereign Bancorp is the parent corporation of Sovereign Bank, with 750 branches and about 12,000 staff, with a main attendance in the Northeast. Sovereign Bank today proclaim that in combination with Massachusetts State Treasurer Timothy P. Cahill, it has established a $5 million loan pool to help victims of the latest fire on January 31, 2008. The loans will be obtainable to all victims impacted by the fire to help the City of Lawrence and its assets owners reconstruct in the artificial area. Furthermore, Banco Santander decided to buy the rest of Sovereign for US$1.9 billion On October 13, 2008. On January 30, 2009, Banco Santander finished its attainment of Sovereign Bank, for about $2.51 per share. Banco Santander, S.A. provide a variety of financial products and services in Spain, the United Kingdom, Portugal, other European countries, Latin America, and the United States. Besides, it maneuvers throughout three segments such as Retail Banking, worldwide Wholesale Banking and benefit Management and Insurance. The Retail Banking section offer an variety of deposit products, including savings, current, demand, time, and notice deposits, as well as worldwide and domestic interbank deposits; and loan products and services, such as auto financing, personal loans, mortgages, and leasing and renting. This section also proffer credit cards, mechanical cash dispensers, savings books updaters, telephone banking, and electronic and Internet banking. The worldwide Wholesale Banking segment offers many type of service. For example, the service has been offers are corporate banking, treasury, and investment banking services. Besides, its products and services include commercial financing, funds, trade finance, transactional products, custody services, corporate finance, structured finance, and capital structuring. This section also engage in the trading and sharing of equities. The Asset Management and Insurance part occupy in the design and management of mutual and pension funds, and insurance products.

BTA Bank

BTA Bank proffer profitable and put on the market banking services to persons and company in Russia. Its deposit products contain demand deposits, time deposits, and permit of deposit. Besides, the corporation also employ in deal with securities and overseas currency, and create loans and guarantee. In addition, it offer conclusion and cash services, project financing, letters of credit, bank guarantees, custom guarantees, salary cards, corporate cards, bills of exchange, deposit certificates, currency operations, and encashment. The company was previously acknowledged as TuranAlem and changed its name to BTA Bank in 2008. BTA Bank JSC offers trade and corporate banking services. BTA Bank was founded in 1994 and is based in Moscow, the Russian Federation. BTA Bank function as a subsidiary of BTA Bank JSC June 26, 2008. A new development plan is to become the leading financial institute in the CIS that was accepted in TuranAlem Bank back in 2007. We desirable a new image of the bank which have to meet new business tasks. Thus, the idea of re-branding was born and understand by today. Besides, a new logo of BTA was replicate the modern reality and transformation of the bank. Pistachio is genuineness, well-being and confidence. crimson is force and energy and the form of the logo is also not unintentional. successively set squares represent reliability and stability. Their junction brings the transparency effect in one of the key professional qualities of the modern bank. BTA Bank follow a striving expansionist strategy during the crisis, which was attain during extremely high loan increase, lone by an equal increase in deposits that resulted in a huge money gap and buried credit risks. The quick development reasonable a caution from Kazakhstan's financial rigid agency for BTA Bank to increase its treasury. Moreover, the bank's borrow policies under Ablyazov destabilized BTA Bank's balance sheet and require an efficient capture in 2009 by Kazakhstan's National Welfare Fund, Samruk-Kazvna. Shortly after, Ablyazov and other previous members of management fled Kazakhstan. In 2009 BTA Bank originate civil measures against Ablyazov and the High Court in London has found bounty cause to freeze Ablyazov's assets. Furthermore, a report from Kazakhstan's economic narrow agency point to Ablyazov recognized local board to support loans while at the same time lead these committees, a procedure which infringe corporate management principles. As a result of its hostile lending and in transparent practices, BTA Bank had the highest percentage of bad loans of any other Kazakh bank in July 2009, accounting for 53.94% of all non-performing loans in Kazakhstan. Ablyazov also failed to reveal to the BTA board that he was a recipient of Drey connections, a UK-based corporation that received over $295 million from BTA under reimbursement agreements between May and October 2008. BTA has been account to be bearing in mind an asset sale to strategic investors after facing heaviness from the Chairman of the National Bank of Kazakhstan. Marchenko has pushed for Kazakhstan's state welfare fund, Samruk-Kazyna, to speed up the sale of mass stakes in banks that it obtain during the course of debt reformation programs.

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