Bank Watch roundup: Bank of America may preserve dividend
04/30/2014 7:00 AM
04/29/2014 10:04 PM
BANK OF AMERICA MAY PRESERVE DIVIDEND: The Charlotte bank has to cut its return to shareholders somewhere after miscalculating its capital levels. Bank of America had permission to raise its dividend to 5 cents per share from the penny it had been at since 2009, as well as buy back $4 billion in stock. Bloomberg reports the bank is considering scrapping the buy-back entirely in order to keep the dividend increase.
BANK OF AMERICA SHARES BEGIN TO REBOUND: A day after getting clobbered by the capital plan news, investors sent the stock price back up 2 percent.
MORTGAGES DOMINATE AT WELLS FARGO ANNUAL MEETING: For the ninth year in a row, Wells shareholders voted down a proposal to recommend splitting the CEO and chairman roles, and by the largest margin. But despite moving the meeting to San Antonio, the bank faced a lot of questions about its mortgage servicing practices, the Wall Street Journal reports. Activists also asked about private prisons and sales pressure, the Los Angeles Times says.
BOFA MEETING DECLARED EXTRAORDINARY EVENT: The city of Charlotte is gearing up for next week's Bank of America annual meeting, granting police expanded powers.
U.S. LOOKS TO BRING CRIMINAL CHARGES AGAINST BIG BANKS: Federal regulators want to take on the "too big to jail" idea by seeking criminal charges against BNP Paribas and Credit Suisse, The New York Times reports.
NONBANKS JUMPING AT THE RISKER LOANS: Increasingly, nonbank lenders are bankrolling skyscrapers, malls and largely vacant office buildings, the Wall Street Journal reports.
WELLS DONATES TO FIRST TEE: The latest $100,000 donation will help the nonprofit expand its program into more elementary schools.
BB&T INCREASES DIVIDEND: The Winston-Salem bank unveiled what its previously announced "conservative increase" will be – 1 cent more per share each quarter.
YADKIN BANK IS 'GROWTH LEADER': Bank Director magazine named the Elkin bank to its list of banks increasing revenue, deposits, loans and noninterest income. Yadkin was No. 7 for noninterest income.
BLUEHARBOR BANK PROFIT RISES: Net income up 32 percent for the Mooresville bank.
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