http://sonnik-ua.net/f/sl.php?nb=957143474
The $166 million San Franciscoi bank gota cease-and-desist order from the and the Californi Department of Financial Institutions on May 29. The bank was ordereed to pay particular attention to its lending policese relating to construction loans as well as loans made to bank The bank said the order was basef onthe bank’s conditionh on Sept. 30, and that it has already made some progresx on meeting theregulators demands.
“New Resource Bank currently has high levela of capitaland liquidity,” Vincen Siciliano, president and CEO, said in a “Like many financial institutions, we are facinb a challenging economic climate that resulted in under-performin loans in the real estate construction and development sector. “We are working with borrower to reduceour problem-loan exposure and have made significanf progress,” Siciliano said. The bank raised almost $15 million in a stock offering last As ofMarch 31, the bank said its risk-basef capital ratio was 18.97 percent -- almost double the 10 percentf benchmark of a bank consideree well capitalized.
In addition to bringiny on Sicilianoas CEO, the bank also hirecd Bill Peterson as chierf credit officer and Charmaine Detweiler as chief financial officer. The bank’ss board also recently elected Mark Finseras chairman. He has 25 yearsa of experience in social NewResource Bank, now serving 2,000 opened in October 2006 to promoter green businesses and practices.
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