Interest Rate Markets February 15, 2010
→ Tarp Panel Report Underscores Need for Policy Action to Support Economic Recovery
A Feb. 10 report by the congressional panel charged with overseeing the Troubled Asset Relief Program (TARP) underscores the need for additional federal policy action to support economic recovery and stabilize commercial real estate markets -- with the top priorities being job creation, tax policies to encourage equity investment in commercial real estate, and steps to restart secondary credit markets, so that banks can begin clearing their balance sheets of toxic assets and lend to credit worthy borrowers large and small, The Real Estate Roundtable stated today. -- Real Estate Roundtable,Xenia (Ksen'ya) Jowyk,Washington 02/15/2010
→ CommercialLeads.ne - Commercial Modification Training Launched
83 Billion Dollars in Commercial Loans are in default now with more than one trillion coming due through 2010. If and when CMBS (commercial mortgage backed securities) comes back online the rules will be different and it will take time for the market to adjust. -- Commercialleads.net - Www.commercialleads.net,D Franklin,Jacksonville Beach Fl 02/13/2010
→ Webster Shareholders Meeting Will Be April 29, 2010
Webster Financial Corporation (NYSE:WBS) , the holding company for Webster Bank, N.A., announced today that its board of directors has scheduled the corporation's annual meeting of shareholders for 4 p.m. (Eastern Standard Time) April 29, 2010 at the Courtyard by Marriott, 63 Grand Street, Waterbury, Conn. -- Webster Bank,Ed Steadham,Waterbury Conn. 02/12/2010
→ Appealing to the Lowest Common Denominator
Election-year Politics and the Toll on Economic Policy -- Mesirow Financial,Diane Swonk,Chicago 02/12/2010
→ Bank of Commerce Holdings Announces Filing of Registration Statement for the Offering of $30 Million of Common Stock
Patrick J. Moty, President & CEO of Bank of Commerce Holdings (NASDAQ:BOCH) , a $813 million financial services holding company, and parent company of Redding Bank of Commerce(TM), Roseville Bank of Commerce(TM), and Bank of Commerce Mortgage(TM) today announced that the Company has filed a registration statement with the Securities and Exchange Commission for an offering of $30 million of its common stock. Bank of Commerce Holdings expects to sell its common stock in an underwritten public offering with Howe Barnes Hoefer & Arnett, Inc. acting as manager. The Company intends to grant the underwriters an option to purchase up to an additional $4.5 million of common stock offered to cover over-allotments, if any. The common stock will be issued pursuant to a prospectus filed as part of the Company's registration statement under the Securities Act of 1933. -- Redding Bank of Commerce,Patrick J. Moty,Redding Cf 02/12/2010
→ Florida`s Existing Home, Condo Sales Up in 4Q 2009
Sales of existing single-family homes in Florida rose 44 percent in fourth quarter 2009 compared to the same period a year earlier, according to the latest housing statistics from Florida Realtors®. A total of 43,926 existing homes sold statewide in 4Q 2009; during the same period the year before, a total of 30,610 existing homes sold. It marks the sixth consecutive quarter that Florida has seen higher existing year-to-year home sales, according to the state association. -- Florida Realtors,Marla Martin,Orlando Fla. 02/12/2010
→ Wallick & Volk Welcomes New Loan Officer in El Centro, California
"We're strong...We're Growing... and we have money to lend!" The current market environment has given us the opportunity to grow our business in locations that are showing signs of stabilization and sustainable growth. Southern CA is showing serious signs of market stabilization and we're poised to take advantage of the improving mortgage market conditions there. -- Wallick & Volk, Inc.,Dave Heuermann,Cheyenne Wyo. 02/12/2010
→ Bankrate: Mortgage Rates Mostly Lower
Rates for most mortgage products retreated this week, but not the average conforming 30-year fixed mortgage, which remained at 5.15 percent, according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.49 discount and origination points. -- Bankrate.com,Kayleen Yates,New York 02/12/2010
→ Huntington Bank Commits $4 Billion to Small Business Lending in the Midwest Over the Next Three Years
Launches New Lending Guidelines and Doubles the Number of Business Bankers to Drive Job Creation -- Huntington Bancshares,Jay Gould,Columbus Ohio 02/11/2010
→ PNC Completes Tarp Repayment
The PNC Financial Services Group, Inc. (NYSE:PNC) today announced that it has redeemed $7.6 billion of Series N preferred shares held by the United States Treasury under the Troubled Asset Relief Program's Capital Purchase Program. -- PNC Financial,Fred Solomon,Pittsburgh 02/11/2010
→ Wallick & Volk Expanding in New Mexico
"We're strong ... We're Growing ... and we have money to lend!" The current market environment has given us the opportunity to grow our business in locations that are showing signs of stabilization and sustainable growth. New Mexico is showing serious signs of market stabilization and we're poised to take advantage of the improving mortgage market conditions there. In doing so, we are excited to open a satellite office in Carlsbad, NM. Patty Boulware will originate mortgage loans out of this office. With a strong background in mortgage, tax, and financial services, you can be certain that you are in good hands! Patty will help you integrate your new mortgage into your lifetime wealth management plan. -- Wallick & Volk, Inc.,Dave Heuermann,Cheyenne Wyo. 02/11/2010
→ Dupont Fabros Technology, Inc. Reports 2009 Results
Revenues Up 15.3% Year Over Year Provides Outlook for 2010 Performance -- DuPont Fabros Technology, Inc.,Mr. Christopher A. Warnke,Washington 02/11/2010
→ M&I Bank Recognized as One of the Nation`s Best Banks for Middle Market Businesses
M&I Bank receives six national awards and two regional awards -- Marshall & Ilsley Corporation,Sara Schmitz,Milwaukee 02/11/2010
→ Diebold`s Integrated Services(r) Symposium Leads Palmetto Bank to Comprehensive Outsourcing Solution
Well-established South Carolina financial institution implements customized ATM network management solution -- Diebold, Incorporated,Rebekah Smith,North Canton Ohio 02/11/2010
→ Freddie Mac To Purchase Substantial Number of Seriously Delinquent Loans From PC Securities
Freddie Mac (NYSE:FRE) announced today that it will purchase substantially all 120 days or more delinquent mortgage loans from the company's related fixed-rate and adjustable-rate (ARM) mortgage Participation Certificate (PC) securities. -- Freddie Mac,Michael Cosgrove,Mclean Va 02/11/2010
→ Freddie Mac Will Not Issue A Reference Notes(r) Security On February 10, 2010
Freddie Mac (NYSE:FRE) announced today that it will not issue a Reference Notes® security on February 10, 2010. The company's 2010 Reference Notes calendar designates dates that it may use to announce the issuance of Reference Notes securities. -- Freddie Mac,Michael Cosgrove,Mclean Va 02/11/2010
→ Djsp Enterprises, Inc. Reports Revenue of $189.8 Million and Adjusted Net Income for Nine Months Ending September 30, 2009 of $32.4 Million
Quarterly Revenues Increase 44% and YTD Revenues Increase 29% Year over Year -- DJSP Enterprises, Inc.,David J. Stern,Plantation Fla. 02/11/2010
→ Continued High Negative Equity and Home Value Declines Put a Damper on an Encouraging 2009
Despite Some Areas Experiencing Flattening or Reversal of Home Value Declines Last Year, One in Five Markets Now Showing Signs of a Possible Double Dip in Home Values, According to Q4 2009 Zillow(R) Real Estate Market Reports Key facts: -- Negative equity remains high at 21 percent of all single family homes with mortgages, but was flat quarter-over-quarter. -- U.S. home values fell 5 percent year-over-year, and declined 0.5 percent quarter-over-quarter, marking the 12th consecutive quarter of year-over-year declines. -- In one in five, or 29 of the 143 markets tracked by Zillow, home values have flattened or have begun to decrease again after showing at least five consecutive monthly increases during 2009 - early signs of what could become a 'double dip.' -- Zillow,Katie Curnutte,Seattle 02/11/2010
→ Hanley Investment Groups Sells Single-Tenant NNN Red Robin Restaurant
*** -- Hanley Investment Group Real Estate Advisors,Anne Monaghan,MENIFEE CALIFORNIA 02/11/2010
→ Enter The Zombies
- CFOs act now in preparing for recovery by reducing corporate costs and restructuring your business if you want to survive zombie economy where cash is king - -- PA Consulting Group,Laura Hamblin,London 02/10/2010
→ Djsp Enterprises, Inc. Reports Revenue of $189.8 Million and Adjusted Net Income for Nine Months Ending September 30, 2009 of $32.4 Million
Quarterly Revenues Increase 44% and YTD Revenues Increase 29% Year over Year -- DJSP Enterprises, Inc.,David J. Stern,Plantation Fla. 02/10/2010
→ Mortgage Rates Decline; Current 30-Year Fixed Rate is 4.81%, According to Zillow Mortgage Rate Ticker
Thirty-year fixed mortgage rates on Zillow Mortgage Marketplace are currently 4.81 percent, down six basis points from 4.87 percent at this time last week. The 30-year fixed mortgage rates hovered at or below 4.80 percent for most of the past weekend and neared 4.75 percent on Monday. -- Zillow,Katie Curnutte,Seattle 02/10/2010
→ Generation Mortgage Grows Nearly 200 Percent in 2009
Lender Named Fifth Largest in U.S. for Wholesale Reverse Mortgages -- Generation Mortgage Company,Shelley Pfaendler,Atlanta 02/10/2010
→ Superior Bancorp Reports Results for 2009
2009 HIGHLIGHTS: -- Superior Bancorp,Jim White,Birmingham Al. 02/10/2010
→ Flagstar Bancorp Announces Expiration of Rights Offering
Flagstar Bancorp, Inc., (NYSE:FBC) (the "Company") , the holding company of Flagstar Bank, announced today that the subscription period of its previously announced rights offering expired at 5:00 p.m., New York City time, on February 8, 2010. In the aggregate, the Company will receive approximately $300.6 million of proceeds in connection with the exercise of subscription rights by its stockholders and will be issuing an aggregate of approximately 423.3 million shares of its common stock to participating stockholders. Of these amounts, the Company received $300.0 million in proceeds from MP Thrift Investments L.P., its controlling stockholder, on January 27, 2010 and issued approximately 422.5 million shares of the Company's common stock at that time. -- Flagstar Bank,Paul D. Borja,Troy Mich. 02/09/2010
→ Purchasing Affordable Long Term Care Insurance for New York Aarp Members Simplified by Genworth Financial
Long term care costs in New York continue to rise at a rate outpacing inflation, putting significant financial pressure on those in or near retirement. As a leader in the long term care insurance industry, Genworth offers a suite of insurance products to help people proactively plan for their future. Now, AARP® members that reside in New York can take advantage of a new program designed to simplify the process of purchasing affordable long term care insurance. -- Genworth Financial Inc.,Al Orendorff,Richmond Va. 02/09/2010
→ Re/max Achieves Top Market Share in Twin Cities Metro for 2009
RE/MAX Ranks #1 in Listings Sold for 13-County Twin Cities Area -- REMAX Advantage Realty,Keri Henke,Bloomington Minn. 02/09/2010
→ Commercial Mortgage Rates - Rising along with Delinquencies
The Federal Government recently issued a Policy Statement regarding the restructuring of commercial mortgage debt. While this is not the same type of program or edict as on the residential side it has provided both motivation and guidance for all banks as to how, when and under what circumstances commercial mortgage loans should be modified. This is mainly due to the fact that Commercial Mortgage Rates have not settled and many loans are maturing in the next 12 months. -- Commercialmortgageinfo.net,CommercialMortgageInfo.net,Boca Raton Fl 02/09/2010
→ Commercial Mortgage - Update - Free Lender / Modification Specialist Search
The Federal Government recently issued a Policy Statement regarding the restructuring of commercial mortgage debt. While this is not the same type of program or edict as on the residential side it has provided both motivation and guidance for all banks as to how, when and under what circumstances commercial real estate loans should be modified. -- Commercialmortgageinfo.net,CommercialMortgageInfo.net,Boca Raton Fl 02/09/2010
→ MBA Hires Douglas Moritz to be Associate Vice President of Multifamily
John A. Courson, President and CEO of the Mortgage Bankers Association (MBA), today announced the appointment of Douglas Moritz as Associate Vice President of Multifamily. -- Mortgage Bankers Association of America,Sarah Tinsley,Washington District of Columbia 02/08/2010
→ Mortgage Applications Increase in Latest MBA Weekly Survey
The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending January 29, 2010. The Market Composite Index, a measure of mortgage loan application volume, increased of 21.0 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 23.5 percent compared with the previous week. -- Mortgage Bankers Association of America,Sarah Tinsley,Washington District of Columbia 02/08/2010
→ Chase Denied Loan Mods for Now Forbidden Reason—Homeowners in Limbo
On the Saturday before Thanksgiving, Lesa Herron of Santa Rosa, Calif., opened a letter from Chase Home Finance [1] (PDF). She’d been denied a permanent modification under the federal government’s loan-mod program, Chase said, because “Your hardship is not of a permanent nature.” -- Eye on the Bailout,Mike Webb, 02/08/2010
→ Credit News From Premier By Louis S. Barnes February 5, 2010
The potential collapse of the euro currency, sinking stocks, and a dead job market here have combined to push long-term rates down. 10-year Treasurys are trading at 3.57% despite a huge new borrowing next week, and mortgages are 5.00% flat. -- Premier Mortgage Group, Inc,Lou Barnes,Boulder Co 02/08/2010
→ $10.9 Million HUD Lean Loan Funds Purchase of Manor Court of Peoria in Illinois, Cambridge Realty Capital Reports
Cambridge Realty Capital Companies has closed a $10.9 million FHA-insured HUD Lean mortgage loan to fund the purchase of Manor Court of Peoria, a 118-bed combination skilled nursing and assisted living property located in Peoria, IL. -- Cambridge Realty Capital Ltd,Debbie Glienke,Chicago Illinois 02/08/2010
→ Workouts Take Center Stage Amid Historic Real Estate Collapse
-LeClairRyan attorney Jeffrey Marley Zalkin highlights bankruptcy-related strategies in seminar for negotiators and risk managers of real estate loans -- LeClairRyan,Marty Gitlin,New York 02/08/2010
→ Huntington Bank Increases Investment in Cleveland With Sunday Hours and 200 New Jobs
Huntington Bank continues to invest in Greater Cleveland by expanding its customer services and workforce in the Cleveland area. The initiatives reflect Huntington's deep commitment to giving customers convenience and choice, and its ongoing efforts to invest in the Cleveland area -- one of its most important markets. -- Huntington Bancshares,Jay Gould,Cleveland 02/08/2010
→ Oppenheimer Reports Share Exchange
NYSE - OPY -- Oppenheimer Holdings Inc.,A.G. Lowenthal,New York 02/08/2010
→ Open House Flyer With Auto-Calculated Mortgage Options in 60 Seconds
Accurate, auto-calculated software will save you time! Loan officers can literally create an open house flyer with their financing options in less than 60 seconds. Current FHA, VA, USDA and CONV guidelines are used for open house flyer calculations. -- Open House Flyer Mortgage Software,Marketing Department,Orange Ca 02/06/2010
→ Bank of America Extends More Credit in 2009 Than Any Other U.S. Bank
Latest Lending & Investing Report Details More Than $758 Billion in Credit Extended During 2009 and Nears $180 Billion in the Fourth Quarter Alone -- Bank of America,Colleen Haggerty,Charlotte N.c. 02/05/2010
→ China Yibai United Guarantee International Holding Inc. Enters Into Strategic Agreement With Finance Department of Jinzhou District in the City of Dalian
China YiBai United Guarantee International Holding Inc. (Pink Sheets: CBGH) (hereafter referred to as China YiBai) entered into strategic agreement with Finance Department of Jinzhou District in the city of Dalian. China YiBai succeeded in helping Jinzhou's enterprises into the Chinese capital market in 2009 and is engaged in the Jinzhou's enterprise listing in the American capital markets. China YiBai participated in the Motivating Direct Financing Action Program for Jinzhou's SMEs on Jan. 15, 2010, aimed at establishing a financing platform to help more SMEs into a diversified capital market and to become stronger with the help of Jinzhou's government. -- China YiBai United Guarantee International Holding Inc.,Bruce Liu,Dalian China 02/05/2010
→ 1st Mariner Bancorp Announces It Has Regained Compliance With Nasdaq Global Market Listing Rules
1st Mariner Bancorp (NASDAQ: FMAR) announced today that on February 3, 2010 it received a letter from The NASDAQ Stock Market notifying the Company that it had regained compliance with The NASDAQ Global Market's listing requirements. As previously reported, in order to regain compliance with those requirements, the closing bid price for the Company's common stock was required to be at least $1.00, and the minimum market value of its publicly held shares was required to be at least $5 million, for 10 consecutive trading days after December 10, 2009. Both of these requirements were satisfied as of February 2, 2010. -- 1st Mariner Bancorp,Mark A. Keidel,Baltimore 02/05/2010
→ 10-Year Manhattan Residential Market Report - Prepared by Miller Samuel
Report Reveals Housing Prices Doubled During Decade, More Condo Sales, Stabilization of Sales and Pricing -- Prudential Douglas Elliman,Barbara Wagner,New York 02/05/2010
→ Wallick & Volk Opens New Branch in Scottsdale, Arizona
..."We're strong...We're Growing... and we have money to lend!" The current market environment has given us the opportunity to grow our business in locations that are showing signs of stabilization and sustainable growth. With our sights set on healthy and improving markets, we have opened a new branch office in Scottsdale, AZ under the guidance of RJ Keilen. RJ has a great team with a marvelous reputation. Joining RJ in the new Scottsdale office are Jeff Wasley and JD Doolin. Anne Clark, Ron Schlachter, Nick Domenico and Jan Walters will also be relocating to the new Scottsdale office. We are excited to have all of them; they will enhance our stature in the industry with their professionalism and market knowledge. -- Wallick & Volk,Dave Heuermann,Cheyenne Wyo. 02/05/2010
→ Bankrate: Mortgage Rates Inch Higher
The streak of four straight weekly declines in mortgage rates was broken this week. According to Bankrate.com's weekly national survey, the average conforming 30-year fixed mortgage rate rose to 5.15 percent. The average 30-year fixed mortgage has an average of 0.49 discount and origination points. -- Bankrate.com,Kayleen Keneally,New York Florida 02/04/2010
→ High Point Market Publishes 2010 Business Outlook
Forecast for the Coming Season Suggests U.S. Home Furnishings Industry on the Road to Recovery/Retailers Optimistic About Year Ahead -- High Point Market Authority,Brian Casey,High Point N.c. 02/04/2010
→ First Mariner Bancorp Announces Agreement to Exchange Common Stock and Warrants for Trust Preferred Securities
First Mariner Bancorp (NASDAQ: FMAR) announced today that it has entered into an agreement with its Chairman and Chief Executive Officer, Edwin F. Hale, Sr., who has agreed to purchase trust preferred securities issued by Mariner Capital Trust II, Mariner Capital Trust IV and Mariner Capital Trust VIII. Mr. Hale, through the agreement with First Mariner Bancorp, has agreed to exchange $20.0 million of the trust preferred securities for $2.0 million in common stock of First Mariner Bancorp plus warrants to purchase shares equal to 20% of the shares issued in the exchange. Mr. Hale agreed to purchase the trust preferred securities, which have an aggregate liquidation amount of $20.0 million, for $2.0 million. -- First Mariner Bancorp,Mark A. Keidel,Baltimore 02/04/2010
→ PNC Prices $3.0 Billion Common Equity Offering
Positions PNC to Repay TARP Preferred Shares -- PNC Financial,Brian E. Goerke,Pittsburgh 02/04/2010
→ PNC to Repay Tarp Preferred Shares
Plans to Offer $3 Billion of Common Stock and Sell PNC Global Investment Servicing Positions Company for Further Growth -- PNC Financial,Brian E. Goerke,Pittsburgh 02/03/2010
→ Mortgage Rates Hold Steady; Current 30-Year Fixed Rate is 4.87%, According to Zillow Mortgage Rate Ticker
Thirty-year fixed mortgage rates on Zillow Mortgage Marketplace are currently 4.87 percent, up two basis points from 4.85 percent at this time last week. The 30-year fixed mortgage rates hovered between 4.80 and 4.90 percent for most of the past week, peaking just above 4.90 percent on Sunday. -- Zillow,Alison Paoli,Seattle 02/03/2010
→ Equilend Announced Today That Users May Also Lend Etfs Through Its Trade2o Service Suite
EquiLend continues to expand its services in the securities lending marketplace by including the ability to borrow and lend ETFs via Trade2O, a service that facilitates the interactive trading of non-GC securities, specials as well as a host of other security types. EquiLend recognizes the active demand and interest for ETFs and is well equipped to keep pace with this growing area. -- EquiLend,Michelle Lindenberger,London 02/03/2010
→ ATA to Call for Greater Federal Oversight to Limit Speculation
Speaking on behalf of the American Trucking Associations, Con-way Inc. Vice President Randy Mullett will call on Congress to improve transparency in the over-the-counter markets and establish aggregate position limits across all trading platforms during a press conference tomorrow at 1 p.m. on Capitol Hill in Washington, D.C. Mullett will also address the effects of excessive oil speculation on America's trucking industry. -- American Trucking Associations,Clayton Boyce, 02/03/2010
→ Fannie Mae Forgoes Issuing Benchmark Notes on its February 2, 2010 Announcement Date
Fannie Mae (NYSE:FNM) today announced that it will not utilize its first (February 2nd) Benchmark Notes announcement date this month. As announced in our 2010 Benchmark Securities Issuance Calendar, the company may forego any scheduled Benchmark Notes issuance. -- HomePath,Derek Lowe,Washington 02/03/2010
→ New Suntrust Programs Respond to Consumers` Desires for Financial Control and Prosperity
Finding that consumers have resonated positively with a more solid, frugal approach to spending and saving, SunTrust Banks, Inc. (NYSE:STI) introduced two programs to empower individuals to take more control of their financial lives. -- Suntrust Mortgage, Inc.,Hugh Suhr,Atlanta 02/02/2010
→ Cedar Shopping Centers Prices Offering of 7,500,000 Common Shares
Cedar Shopping Centers, Inc. (NYSE:CDR) announced today the pricing of its public offering of 7,500,000 newly issued shares of common stock at $6.60 per share. The offering is expected to close on Friday, February 5, 2010. Net proceeds to the Company after offering expenses are estimated at $47.0 million. In addition, the underwriters of the offering have been granted a 30-day option to purchase an additional 1,125,000 shares of common stock to cover over-allotments, if any, which, if exercised in full, would result in approximately $7.1 million of additional proceeds to the Company. The shares will be issued under the Company's currently effective shelf registration statement filed with the Securities and Exchange Commission. -- Cedar Shopping Centers, Inc.,Leo S. Ullman,Port Washington N.y. 02/02/2010
→ Comptroller Dugan Says Minimum Underwriting Standards Could Play Major Role in Reforming Securitization Markets
Comptroller of the Currency John C. Dugan said today that a robust securitization market is vital to funding the needs of consumers and businesses, and urged policy makers to focus reform efforts on improving underwriting standards rather than "skin-in-the game" risk retention proposals. -- Office of the Comptroller of the Currency,Robert M. Garsson,National Harbor Md. 02/02/2010
→ 1st Mariner Reports 2009 Results
Deposits Rise, Non-Performing Assets Stabilize Record Date Set for Proposed Rights Offering -- 1st Mariner Bancorp,Mark A. Keidel,Baltimore 02/02/2010
→ Bankrate Releases 2010 Look at the Credit Card Industry
Bankrate's 2010 Credit Card Guide provides in-depth look at changes coming with the Credit CARD Act as well as new calculators -- Bankrate.com,Chris Spagnuolo,New York 02/02/2010
→ The Clearing House Appoints Paul Saltzman as Executive Vice President, General Counsel and Head of The Clearing House Association
Industry Veteran Will Lead Advocacy Efforts for Nation's Large Bank Forum -- The Clearing House,Iya Davidson,New York 02/02/2010
→ Flagstar Reports 2009 Financial Results
Flagstar Bancorp, Inc. (NYSE:FBC) , the holding company for Flagstar Bank FSB, today reported its fourth quarter and annual results for 2009. -- Flagstar Bank,Paul D. Borja,Troy Mich. 02/02/2010
→ Cedar Shopping Centers Announces Common Share Offering
Cedar Shopping Centers, Inc. (NYSE:CDR) ("Cedar") announced today that it has commenced an underwritten public offering of 7,500,000 shares of its common stock pursuant to a shelf registration statement filed with the Securities and Exchange Commission, which became effective on December 1, 2008. A preliminary prospectus supplement and a final prospectus supplement relating to the offering will be filed with the Securities and Exchange Commission. -- Cedar Shopping Centers, Inc.,Leo S. Ullman,Port Washington N.y. 02/01/2010
→ Union Finalizes First Market Bank Deal
Union First Market Bankshares Corporation (NASDAQ:UBSH) , the newly named Virginia multi-bank holding company ("Union"), is pleased to announce it has completed its acquisition of First Market Bank ("First Market"). As previously announced, the Company will merge its two largest bank subsidiaries, Union Bank and Trust Company and First Market, to form Union First Market Bank in March of this year and will move its corporate headquarters to Richmond in April. -- Union Bankshares,G. William Beale,Richmond Va. 02/01/2010
→ Sterling Bancorp Reports 2009 Results
Performance Reflects Loan Growth, Increased Net Interest and Noninterest Income, Lower Expenses -- Sterling National Mortgage Corp.,John Tietjen,New York 02/01/2010
→ Armour Residential Reit, Inc. Announces Symbol and Market Makers for OTC Bulletin Board
City; VERO BEACH, Fla. -- ARMOUR Residential REIT, Inc.,Jeffrey Zimmer, 02/01/2010
→ 2009 Mortgage Fraud Index Jumps
The number of mortgage fraud cases increased last year, though the dollar amount held steady, according to MortgageDaily.com's fourth-quarter 2009 mortgage fraud index. Activity was worst in Florida and Nevada. -- MortgageDaily.com,Sam Garcia,Dallas 02/01/2010
→ The Perfect Storm: Deteriorating Rents and Occupancies, Deflating Sales Prices and Tight Credit
Government approved programs and bailouts are in place for many sectors of the battered economy, but where are the resources and solutions for property owners and investors in the heavily Distressed Commercial Real Estate Market? -- Guardian Solutions,Jamie Sene,Clearwater Fla. 02/01/2010
→ Bank of Commerce Holdings(tm) Announces 2009 Operating Results
Patrick J. Moty, President & CEO of Bank of Commerce Holdings (NASDAQ:BOCH) , a $813 million financial services holding company, and parent company of Redding Bank of Commerce(TM), Roseville Bank of Commerce(TM), and Bank of Commerce Mortgage(TM) today announced 2009 operating results. -- Bank of Commerce Holdings,Patrick J. Moty,Redding Calif. 01/30/2010

