Pictures from the Past
1991—The Wild Kingdom of SIGs

“Ring Master” C. Michael Baker, CLP, the April 17-21, WAEL Spring Conference Chairman, introduces the “ Wild Kingdom of SIGs”—(Special Interest Groups) during the 1991 WAEL Spring Conference.  Baker, President  of Pacific States Leasing, Fresno, CA, was responsible for keeping three rings going with presentations from the SIGs representing Brokers, Funders, and Lessors during the four day event.  

SIG chairmen pictured here are (l to r)
Lion- Funders SIG-Mike Wing, President, Fleet Credit/Denrich Leasing Group;
Fox- Brokers SIG—George Davis II, President, Fortune Financial; and
Bear- Lessors SIG—Rick Wilbur, President, Charter Equipment Leasing

 

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Classified Ads---Legal

(These ads are “free” to those seeking employment
or looking to improve their position)

San Diego , CA  Experienced in-house corporate, equipment leasing and financial services attorney seeks position as managing or transactional counsel. Willing to relocate. Cell Phone: 760-533-4058; Email:marshallrosenberg@gmail.com | Resume

Free Posting for those seeking employment in Leasing:
http://www.leasingnews.org/Classified/Jwanted/Jwanted-post.htm

All “free” categories “job wanted” ads:
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John Kenny  Receivables Management • End of Lease Negotiations & Enforcement • Fraud Investigations • Credit Investigations • Asset Searches  • Skip-tracing • Third-party Commercial Collections john@jkrmdirect.com | ph 315-866-1167| www.jkrmdirect.com

(Leasing News provides this ad as a trade for investigations
    and background information provided by John Kenny)

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##### Press Release ############################

CIT Survey: Voice of the Middle Market

 

Middle market executives have a positive outlook for their businesses with nearly two-thirds (63%) indicating that their companies are better off today than last year, while 62% expect the size of their workforce to increase in the coming year. These are some of the key findings found in the third annual Voice of the Middle MarketTM study (www.cit.com/middlemarketoutlook) released today by CIT Group Inc. (NYSE:CIT) cit.com, a leading provider of commercial lending and leasing services. However, this optimism is tempered by concerns related to continued economic uncertainty, costs associated with complying with the Affordable Care Act, regulations and tax increases.

“Middle market companies represent the backbone of the American economy, leading innovation and growth that has been vital to the recovery of the U.S. economy,” said Tom Hobbis, Co-Head of CIT Sponsor Finance. “Our study has found that while middle market executives are upbeat about their own prospects and are looking to grow as a result, they believe it’s important that elected officials bring forth policies that support the middle market.”

Jeff Kilrea, Co-Head of CIT Sponsor Finance, added, “As a leading provider of financing to the middle market, it’s important for CIT to understand the views of middle market executives on the key issues that affect their companies. This annual study offers us the opportunity to hear directly from this important sector of the U.S. economy.”

KEY FINDINGS

• Economic Uncertainty; Affordable Care Act Costs; Taxes and Regulations Top Concerns: While expressing much optimism for their own companies, there are still several issues that cause trepidation among middle market executives. Those areas of top concern include: continued economic uncertainty (76%); costs associated with complying with the ACA (75%); regulations (71%) and tax increases (70%).
• Tax Reform Should Top Congress’ Agenda: Tax reform is a top priority for respondents with 84% saying they want Congress to take action on this issue. Additionally, about three-fourths want changes to healthcare reform, investments in infrastructure, and increasing domestic energy production. Less than half (40%) think raising the federal minimum wage should be taken up by the 114th Congress.
• Workforce Expansion Expected: Over half the middle market companies (55%) have experienced workforce growth over the past 12 months. Sixty-two percent say they expect the size of their workforce to increase in the coming year. More than half (58%) report that business demand and opportunities will lead to an increase in workforce.
• Growth on the Horizon: Fifty-eight percent of respondents expect to enter other regions within the U.S. over the next 12 months, while 62% expect to increase their range of products and services in the next 12 months.
• Optimism around Local Economies Trump National and Global Economic Outlooks: While expressing concern around continued economic uncertainty, executives are gaining confidence in the national and global economies. Twenty seven percent of executives, up from 15% in 2013, feel that the U.S. economy is performing strongly, while 14% describe the global economy as strong, compared to only 7% percent last year. Executives continue to express significant optimism when it comes to the strength of their local economy with more than half (51%) describing it as strong.
• Talent Management Top of Mind: Sixty-eight percent of executives are concerned about their ability to retain top talent and 65% are concerned about their ability to hire top talent. Middle market executives are also facing challenges around data security, with 67% saying this is a concern for the coming year.
• Middle Market Look To Republicans To Lead Congress: The majority of middle market executives (55%) say a Republican-controlled Congress would be good for their company, while only one in five think a Democrat-controlled Congress would be better for their firm (21%).
• Satisfied With Financing: Ninety percent of respondents said they are satisfied with their company’s access to financing, up almost 10 points from 2013. Ninety four percent report being satisfied with their current financial lender, and more than four out of five say they are satisfied with the variety of financing alternatives available to them and the cost of financing.
• Dissatisfaction with Congress and the President: Congress received low marks with 84% of executives disapproving of Congress’ job performance, while roughly two-thirds disapprove of President Obama’s job performance. In addition, the vast majority believe Congress is doing too little to support both small (86%) and middle market (77%) businesses.
• Majority Support GOP Presidential Candidate in 2016 Election: Just over half would like the next president to be a Republican (54%).The three most popular Republican candidates are New Jersey Governor Chris Christie, former Florida Governor Jeb Bush, and former Massachusetts Governor Mitt Romney. On the Democratic side, former Secretary of State Hillary Clinton generates the greatest support.

About the Survey
KRC Research, on behalf of CIT, fielded an online survey among 301 U.S. middle market executives representing a range of industries. Fieldwork was conducted in August of 2014. In order to be eligible to participate in the survey, respondents had to be in a leadership role at firms with revenues between $25 million and $1 billion, the majority of whose employees were based in the United States. Researchers defined leadership roles as: Owner, Board Member, C-Suite Executive (Chief Executive Officer, Chief Operating Officer, Chief Financial Officer, Chief Information Officer, Chief Investment Officer, or other C-Suite title), or SVP/VP/Director.

About CIT
Founded in 1908, CIT (NYSE:CIT) is a financial holding company with more than $35 billion in financing and leasing assets. It provides financing, leasing and advisory services to its clients and their customers across more than 30 industries. CIT maintains leadership positions in middle market lending, factoring, retail and equipment finance, as well as aerospace, equipment and rail leasing. CIT’s U.S. bank subsidiary CIT Bank (Member FDIC), BankOnCIT.com, offers a variety of savings options designed to help customers achieve their financial goals. cit.com

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Pawnee Leasing Simplifies Sales Processes
with DocuSign and eOriginal

eOriginal, Inc., the experts in eAsset Management services, and DocuSign, Inc. (DocuSign®), The Global Standard for Digital Transaction Management (DTM), have collaborated to deliver a seamless DTM solution to empower Pawnee Leasing Corporation to streamline its leasing sales process. eOriginal and DocuSign are helping Pawnee to accelerate time to funding for faster speed to revenue, lower costs, and a better customer experience.

The joint solution from eOriginal and DocuSign allows Pawnees broker and lessor customers to seamlessly originate and electronically execute sales contracts with the company in minutes. The all-digital sales process eliminates the hassles, costs and lack of security in printing, faxing, scanning and overnighting documents to complete transactions.

The joint solution allows Pawnee Leasing to: 

• Reduce cost and time by eliminating printing, scanning, faxing or mailing paper contracts.
• Manage risk using eOriginals eAsset Management Services, there is a secure path to manage Electronic Original® documents throughout their lifecycle, ensuring the ability to pledge, sell, and securitize eAssets.
• Improve customer experience with the convenience of DocuSigning anytime, anywhere, on any device, while empowering digital asset management.

The powerful combination of DocuSign and eOriginal allows Pawnee to manage chattel, loan documents and any negotiable instrument or critical assets 100 percent electronically. eOriginal and DocuSign will dramatically reduce time to close while enabling financial compliance for Pawnee as the complete DTM solution that mitigates risk of human error in contract management, which cuts costs and increases efficiency.

Brian Schonfeld

• "We've been very pleased with the joint DocuSign and eOriginal solution thats helped us take our sales organization fully digital," said Brian Schonfeld, Project & Information Manager for Pawnee Leasing. "We now have partners that are looking out for our customers best interest with an innovative technology integration that speeds business processes and provides the security and compliance that Pawnee and our banking partners demand. Digital Transaction Management has accelerated our sales cycles while eliminating risk and inefficiencies from our business."
  
  
• "We believe the most successful companies will be fully digital by the end of the decade," said Neil Hudspith, Chief Revenue Officer, DocuSign. "By partnering with eOriginal, were helping organizations like Pawnee Leasing achieve its digital transformation faster."
  
  
• "Pawnee Leasing is moving into a new era with a complete DTM solution," said Stephen Bisbee, President and CEO of eOriginal. "The company will soon realize new levels of efficiency, compliance, security and asset flexibility that will strengthen its sales and business processes."

About eOriginal, Inc. 
Founded in 1996, eOriginal is the trusted expert in electronic transaction management solutions, specializing in the post-execution management of financial asset documentation. eOriginals eAsset Management Services allows fully electronic transactions to be managed with the highest levels of security and compliance throughout their lifecycle. By treating every transaction as having assets that must be verifiably secure, legally compliant and enforceable, eOriginal provides its customers and partners with eCertainty. For more information, please visithttp://www.eoriginal.com. eOriginal®, eAsset, and eCertainty are trademarks of eOriginal, Inc. and are registered or pending registration in the United States or in other jurisdictions.

About DocuSign Inc. 
DocuSign® is The Global Standard for Digital Transaction Management. Global enterprises, business departments, individual professionals, and consumers have standardized on DocuSign, with more than 40,000 new users joining the DocuSign Global Network every day. Today, that network includes millions of users in 188 countries. DocuSign's DTM platform supports legally compliant electronic and digital signature processes tailored to meet requirements globally with localization in 43 languages. Companies and individuals DocuSign to accelerate transaction times to increase speed to results, reduce costs, increase security and compliance, and delight customers across nearly every industry from financial services, insurance, technology, healthcare, manufacturing, communications, real estate, retail, and consumer goods to higher education, non-profit and others as well as every business department, including sales, finance, operations, procurement, HR/staffing, legal, and customer support. For more information, visit http://www.docusign.com or call 877.720.2040. Visit the DocuSign blog at http://www.docusign.com/blog and follow DocuSign on Twitter, LinkedIn and Facebook.

 

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Leasing Industry Help Wanted
 

Rosemont, Illinois Billing Specialist Leasing Experience, knowledge LeasePlus preferred, click here for more information   Accounts Receivable Specialist Experienced Collector/AR Associate click here for more information http://www.elasalle.com Awards & Recognition

 

 

 

STRADA Capital recently moved into its new facility and is hiring Top Sales Producers to work in our Equipment Financing and Working Capital Divisions. High Level Performance, Collaborative Creativity, Integrity and Transparency define our Culture. The Company offers generous commission plans, industry leading support and benefits. Email your resume to: SalesCareers@STRADAcapital.com www.STRADAcapital.com The Place where Professionals Prosper

 

For information on placing a help wanted ad, please click here:
http://www.leasingnews.org/Classified/Hwanted/Hwanted-post.htm 

EverBank Financial Corp Announces
Third Quarter 2014 Financial Results

EverBank Financial Corp (NYSE: EVER) announced today its financial results for the third quarter ended September 30, 2014.

Total commercial banking loans and leases HFI increased $284 million, or 4%, compared to the prior quarter and $1.3 billion, or 23%, year over year to $7.0 billion. Commercial real estate and other commercial loans increased $95 million, or 3%, to $3.3 billion, equipment financing receivables increased $262 million, or 17%, to $1.8 billion and lender finance increased $53 million, or 8%, to $678 million. Mortgage warehouse finance outstanding balances decreased $125 million, or 10%, compared to the prior quarter, to $1.2 billion.

"We are pleased with our third quarter performance as we delivered strong earnings, achieved robust portfolio loan growth and benefited from our deposit growth initiatives," said Robert M. Clements, chairman and chief executive officer. "We remain focused on executing our core strategies designed to enhance the long-term value of our franchise and serve the needs of our consumer and commercial banking clients."

GAAP net income available to common shareholders was $41.0 million for the third quarter 2014, compared to $32.3 million for the second quarter 2014 and $30.6 million for the third quarter 2013. GAAP diluted earnings per share were $0.33, a 27% increase from $0.26 in the second quarter 2014 and a 32% increase from $0.25 in the third quarter 2013.

Third Quarter 2014 Key Highlights

• Return on average equity (ROE) was 10.6% for the quarter.
• Portfolio loans held for investment (HFI) of $16.6 billion, an increase of 8% compared to the prior quarter.
• Retained originations of $1.7 billion in the quarter; year to date retained originations of $4.3 billion.
• Total assets of $20.5 billion, an increase of 4% compared to the prior quarter.
• Total deposits of $14.5 billion, an increase of 4% compared to the prior quarter.
• Tangible common equity per common share increased 8% year over year to $12.36 at September 30, 2014.
• Strong capital position with bank tier 1 leverage ratio of 8.5% and bank total risk-based capital ratio of 14.0%.
• Adjusted non-performing assets to total assets1 improved to 0.50% at September 30, 2014. Annualized net charge-offs to total loans and leases held for investment remained low at 0.09% for the quarter.

"During the quarter, we continued to execute on initiatives designed to deliver improved efficiency and drive operating leverage across the organization," said W. Blake Wilson, president and chief operating officer. "The investments we have made in our origination franchise are resulting in continued portfolio loan growth across our consumer and commercial businesses."

 

 

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New Hires---Promotions in the Leasing Industry

CIT Business Aircraft Finance, a provider of financing solutions to business jet operators and owners, today shared several key announcements regarding new and existing team members who are assuming new roles in the organization.

“Companies around the world continue to recognize that business aircraft drive growth, save time and facilitate quality face-to-face interaction,” said Mike Kahmann, Group Head and Managing Director, CIT Business Aircraft Finance. “These announcements about our quality team demonstrate our commitment to this crucial sector of the aerospace industry and to delivering the highest level of service to our customers.”

Among the key announcements were:

• Ron Walls joined as Vice President, Equipment Management. In this role, he is responsible for valuations and management of CIT’s business aircraft portfolio. Walls has been involved in equipment management within the finance industry for almost 30 years, and has worked for a number of top equipment finance institutions across the country, including Wachovia/Wells Fargo Equipment Finance, Banc One Leasing Co., Fleet Capital Leasing, Transamerica Equipment Leasing and GE Capital. Walls is a member of the American Society of Appraisers (ASA) as well as the National Business Aviation Association (NBAA) and the National Aircraft Finance Association (NAFA). He also served on the Jet Aviation Customer Advisory Board from April 2011 to April 2014.
   
• Jose Luis Muñoz joined as Vice President, Sales, Latin America. He will be responsible for sales initiatives and strategy for the region and will be based in Mexico City. Prior to CIT, Muñoz spent the last four years in GE Capital’s Corporate Aircraft Finance group, where he originated and structured leases and loans for corporate accounts in Mexico.
   
• Nicole Halverson was appointed as Vice President, Aircraft Trading & Syndications. She will be responsible for optimizing the business aircraft portfolio through acquisitions, syndications and divestments. Halverson began her career at CIT Aerospace in 2004, holding positions within CIT Commercial Air and CIT Business Aircraft Finance. Most recently, she was Vice President, Sales, Americas, where she managed CIT’s originations of business aircraft financings throughout Latin America.
   
• Michael Francis, Vice President, Sales, North America - East, will be responsible for new business development in the U.S. east of the Mississippi River as well as in the Caribbean. Francis has been with CIT since 2012. Prior to CIT, he managed private aviation for a family office and was a sales manager for a fractional aircraft ownership company.
   
• Craig Roy, Assistant Vice President, Sales, North America - West, will be responsible for originations in the U.S. west of the Mississippi River. Roy joined CIT in 2007, and has held several roles in CIT Business Aircraft Finance and CIT Commercial Air. Most recently, he managed indirect originations and syndications for CIT Business Aircraft Finance.

 

 - National Leasing Group Inc. (National Leasing) is pleased to announce that, on November 1, Tom Pundyk, President, National Leasing, will assume the role of President and Chief Executive Officer. Mr. Pundyk has spent his entire career with National Leasing spanning all aspects of the business, most notably Chief Operating Officer, before taking on the role of President in fall of 2013. He succeeds long serving CEO Nick Logan who will officially retire on October 31, 2014.

“I look forward to continuing to execute National Leasing’s strategy and drive sustainable, long-term growth as we look towards 2020 and beyond,” says Mr. Pundyk. “With our customer-first approach and award-winning corporate culture, we have the building blocks in place for great success.”

Over the past year, Nick Logan has supported a seamless transition within the executive team.

“Tom has been with me since the early days of National Leasing almost 40 years ago. I have every confidence in his abilities and in National Leasing’s future under his leadership,” says Mr. Logan. “I am so proud of everything this company has accomplished over the past four decades. Thank you to National Leasing’s 300 employees for your dedication and to over 50,000 Canadian businesses for choosing National Leasing to help grow your business through equipment financing.”

During Mr. Logan’s tenure, National Leasing has achieved over 100 consecutive profitable quarters, 20 per cent growth rates year-over-year and less than five per cent employee turnover. This has earned National Leasing recognition as one of the Best Small and Medium Employers in Canada by Aon Hewitt and Queen’s School of Business, one of Canada’s 10 Most Admired Corporate Cultures by Waterstone and Achiever’s 50 Most Engaged Workplaces.

Mr. Pundyk’s biography is available here

Other hires:

 - Debbie Solimani was Manager Operations - Financial Services at Olympus. She was formerly Operations Manager since April 2011.

 - Joe Pilson was named Account Representative at Canon Financial Services, Inc.

 - Christopher Szopa was named Vice President, Territory Director at Frost Bank

 - Alexandra Allen was named Property Manager Secretary at Custom Property Management at Bibby Financial Services

 - Cheryl Stammer named Vice President, Senior Business Development Officer at Federal National Commercial Credit

  -Aaron Gerchak named Account Executive at Lease Corporation of America

 

Mr. Terry Winders available as Expert Witness. 35 years as a professional instructor to the top equipment leasing and finance companies in the United States, author of several books, including DVD's, as well as weekly columnist to Leasing News. He also performs audits of leasing companies as an expert on documentation, and has acted as an expert witness on leasing for litigation in legal and tax disputes, including before the IRS. He also has taught the senior bank examiners, how to review a bank leasing department, for the Federal Reserve in Washington D.C. and has trained the examiners for the FDIC on how to prepare a lease portfolio for sale. Mr. Winders received his Master of Business Administration and his Bachelor of Science degrees from the College of Notre Dame. 502.649.0448/terrywinders11@yahoo.com

(This ad is a “trade” for the writing of this column. Opinions
contained in the column are those of Mr. Terry Winders, CLP)

 

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Failed banks, class of 2014

By Daniel M. Burkard and Divya Lulla and Zuhaib Gull

The OCC shut down Chicago-based National Republic Bank of Chicago on Friday, Oct. 24, pushing the total number of failures in 2014 to 16. In comparison, 22 banks were closed through Oct. 24 in 2013.

The FDIC has relied less on loss-share agreements to complete its failed-bank transactions of late. None of the 16 government-assisted transactions this year included a loss-share agreement, while three of the failures in 2013 included these agreements. In 2012, 20 failures included loss-share agreements.

Failures this year have cost the FDIC's deposit insurance fund less than previous years. The median cost to the fund at the time of announcement as a percentage of the failed banks' assets is 13% in 2014 to date, down from 22% for full year 2013 and 21% in 2012.

Chicago-based National Republic Bank of Chicago ($954.4 million)

National Republic Bank of Chicago was the largest Indian-American-owned bank in the U.S., according to a July 30 article in Crain's Chicago Business. In July, the OCC issued a prompt corrective action directive to the bank requiring, among other things, the dismissal of Hiren Patel as chairman and CEO and Edward Fitzgerald as president. As of June 30, 52.4% of the company's loans were past due or nonaccruing. Most of the company's loans were commercial real estate loans.

Rising Sun, Md.-based NBRS Financial Bank ($188.2 million)

NBRS Financial Bank is the second Maryland institution to close this year after Bel Air, Md.-based Slavie Federal Savings Bank (MHC) failed May 30. Established in 1873, NBRS Financial operated with five branches — four in Maryland and one in Pennsylvania. A purchase and assumption agreement was reached between the FDIC and the acquirer, Howard Bank. The Ellicott City, Md.-based Howard Bancorp Inc. unit agreed to pay the FDIC a 1.19% premium to assume all of NBRS Financial's deposits. Prior to its failure, NBRS Financial had posted assets and deposits of $188.2 million and $183.1 million, respectively, in its June 30 regulatory filing. A $24.3 million cost to the deposit insurance fund was estimated by the FDIC.

Chicago-based GreenChoice Bank fsb ($70.3 million)

GreenChoice Bank was the fourth Illinois institution to fail this year after regulators shuttered Moline-based Valley Bank on June 20. Established in 1910, GreenChoice Bank operated three branches, all in Illinois. The savings bank failed to post a profit in any quarter since the end of 2008 and had a Texas ratio of 551.04% on June 30. South Holland, Ill.-based Providence Bank LLC assumed the bank's deposits, which stood at $68.7 million at the end of the second quarter. Providence Bank also purchased $67.7 million of GreenChoice Bank's assets. The FDIC retained the remaining assets for later disposition.

Conyers, Ga.-based Eastside Commercial Bank ($173.9 million)

Eastside Commercial Bank was the first Georgia bank to fail since regulators shuttered Valdosta, Ga.-based Sunrise Bank on May 10, 2013. Established in 2005, Eastside Commercial Bank operated two branches, both in Georgia. The institution posted a profit in only two quarters since the start of 2010. Atlanta-basedCommunity & Southern Bank assumed all of Eastside's deposits, which stood at $166.9 million at June 30. The Community & Southern Holdings Inc. unit also entered into an agreement with the FDIC to buy $104.7 million of Eastside's assets. In a separate deal, the FDIC agreed to sell $42.6 million of the failed bank's loans to Macon, Ga.-based State Bank and Trust Co., a subsidiary of State Bank Financial Corp. The regulator has retained the remaining assets for later disposition.

Freedom, Okla.-based Freedom State Bank ($22.8 million)

Freedom State Bank's closure June 27 marked the second failure in Oklahoma this year, after regulators closed Bank of Union on Jan. 24. Established in 1919, Freedom State Bank operated a single branch in Oklahoma before it was shut down. The FDIC had issued a prompt corrective action directive to the bank May 2.

Moline, Ill.-based Valley Bank ($456.4 million)

Valley Bank, one of two River Valley Bancorp Inc. subsidiaries to fail June 20, operated 13 branches in Illinois before its closure. The bank's nonperforming loans ratio stood just shy of 24% at March 31, and the institution posted $51.3 million in total losses from 2010 through March 31. Valley Bank was also operating under acease and desist order from Jan. 15.

Fort Lauderdale, Fla.-based Valley Bank ($81.8 million)

Established in 1974, Valley Bank operated four branches in Florida before its closure June 20. This was the first Florida failure since Graceville-based Bank of Jackson County closed Oct. 30, 2013. Valley Bank was operating under a cease and desist order dated Dec. 18, 2013, and had lost $17.9 million from 2009 through March 31. The Seminole Tribe of Florida had expressed an interest in acquiring Valley Bank but subsequently withdrew its application.

Bel Air, Md.-based Slavie Federal Savings Bank (MHC) ($140.1 million)

Founded as a community bank in 1900, Slavie Federal Savings Bank (MHC) marks the ninth failure in Maryland since 1998. This was the first failure in the state since regulators closed HarVest Bank of Maryland on April 27, 2012. Prior to its closure, the OCC issued a cease and desist order to Slavie on Jan. 7. The institution had struggled to improve its capital position as its Tier 1 risk-based ratio fell to 3.83% in the first quarter from 11.92% two years prior. Furthermore, the bank failed to earn a profit in its last 11 quarters, incurring an aggregate net loss of $16.4 million over that period.

Cincinnati-based Columbia Savings Bank ($36.5 million)

Established in 1892, Columbia Savings Bank operated out of a single branch in Cincinnati. The failure marks the first in Ohio after regulators closed Milford-basedBramble Savings Bank in 2010. The FDIC issued a prompt corrective action directive to Columbia Savings Bank on March 13, ordering it to either increase its capital levels or accept an offer to be acquired by another bank. Prior to its failure, the institution had incurred a net loss in 22 of its last 24 quarters. The aggregate loss for those quarters totaled $5.36 million.

Berwyn, Ill.-based AztecAmerica Bank ($66.3 million)

The bank was established in 2005, focusing on the Latino community in Chicago, according to Crain's Chicago Business. In an SNL analysis, AztecAmerica was ranked fifth on the list of banks and thrifts with the highest adjusted Texas ratio in the first quarter. The bank had incurred net losses for 22 of its last 25 quarters for an aggregate loss of $13.8 million.

Fairfax, S.C.-based Allendale County Bank ($51.5 million)

The bank was established in 1937 and operated five branches in South Carolina. This represents the first bank failure in South Carolina since Carolina Federal Savings Bank in June 2012. The FDIC had issued a cease and desist order to Allendale County Bank in July 2013. At the end of 2013, about 56% of the company's loan portfolio consisted of consumer loans. Due to a substantial rise in its loan loss provision, the bank incurred a net loss of $3.1 million in the quarter ended Dec. 31, 2013.

Horsham, Pa.-based Vantage Point Bank ($63.5 million)

The bank was formed in 2007 and operated one branch in the Philadelphia-Camden-Wilmington MSA. This marks the first failure in Pennsylvania since Nova Bank in October 2012. The FDIC had issued a consent order to Vantage Point on Dec. 9, 2013. The bank had also recently experienced turnover in senior management.

Sterling, Va.-based Millennium Bank NA ($130.3 million)

Established in 1999, the bank had two branches in Northern Virginia. It was the first failure in Virginia since Bank of the Commonwealth in September 2011. The bank had incurred net losses for 23 consecutive quarters for an aggregate loss of $52.1 million. Millennium topped the list of banks with the highest adjusted Texas ratio for the quarter ended Sept. 30, 2013, according to an analysis conducted by SNL.

Boise, Idaho-based Syringa Bank ($153.4 million)

Established in 1997, the bank had six branches in Idaho, five of which were in the Boise City-Nampa MSA. This was the first bank failure in Idaho since April 2009. Syringa Bank's parent, Syringa Bancorp, had received TARP funds in January 2009. Syringa Bank had incurred net losses for 19 consecutive quarters for an aggregate loss of $40.0 million. Total loans and leases were $119.8 million at year-end 2013, down from $260.2 million five years earlier.

El Reno, Okla.-based Bank of Union ($317.2 million)

Established in 1900, Bank of Union had two branches in central Oklahoma. This was the first bank failure in Oklahoma since First Capital Bank in June 2012. The FDIC issued Bank of Union a consent order in June 2013. More than half of the bank's loan portfolio was nonperforming as of Sept. 30, 2013.

West Chicago, Ill.-based DuPage National Bank ($53.5 million)

The bank was established in 1891 and operated three branches in the Chicago MSA. DuPage National was the first bank failure in Illinois since Covenant Bank in February 2013. The bank had incurred net losses for 25 consecutive quarters for an aggregate loss of $17.7 million. As of Sept. 30, 2013, 17.41% of its gross loans were past due or in nonaccrual status

 

 

 

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Leasing News: Fernando’s View
By Fernando Croce

Special Halloween Edition, Part Two

With Halloween just around the corner, we’ve put together a two-part catalog of classic frightfests to go with your pumpkin treats. So check out these indelible horror tales and have a safe, hearty holiday.

The Black Cat (Edgar G. Ulmer, 1934): Bela Lugosi and Boris Karloff were meant to outcreep each other on screen, and what better opportunity to pair up these two horror icons than with an adaptation of an Edgar Allan Poe story? Set in the more malevolent corners of Hungary, the story follows a couple of American newlyweds (David Manners, Julie Bishop) as they wander into a dark mansion run by the enigmatic Hjalmar (Karloff). What they don't suspect is that their host is really the head of a satanic cult, and that their lives are in grave danger. Luckily for them, along for the ride is Dr. Vitus (Lugosi), a former architect with a vengeful bone to pick with Hjalmar. Directed with a surplus of macabre style by genre specialist Edgar G. Ulmer, this frightful little fable remains a treasure trove for fans of Universal Studio chills.

Horror of Dracula (Terence Fisher, 1958): No Halloween marathon is complete without an appearance by Christopher Lee, so why not go for his signature role in this robust version of Bram Stoker's classic tale? Lee stars, naturally, as Count Dracula, the ancient and deadly vampire who, after an encounter with new employee Jonathan (John Van Eyssen), travels from his castle to the man's village. There, the creature preys on Jonathan's bride Mina (Melissa Stribling) until he runs into vampire hunter Van Helsing (Peter Cushing). Directed by Terence Fisher, the film is a superb showcase of the qualities of Hammer Studios, namely strong, atmospheric visuals (with an emphasis on deep reds) and suggestive hints of dread and passion lurking underneath staid British surfaces.

Don't Look Now (Nicolas Roeg, 1973): A fierce and versatile stylist, British filmmaker Nicolas Roeg reached an unsettling peak with this unforgettably eerie vision, based on a story by Daphne Du Maurier. Laura (Julie Christie) and John Baxter (Donald Sutherland) are a married couple whose life takes a tragic turn after the death of their child. To deal with their grief, they travel to Venice, where they turn their attention to the ancient art surrounding the canals. Soon, however, they begin to experience strange, even psychic signs as they wander through the city. Could it be that the dead daughter is trying to contact them, or could it be a path to something more horrific? Creating a matchless atmosphere of mortality, Roeg's classic gets under the audience's collective skin and builds up to a jaw-dropping revelation.

The Shining (Stanley Kubrick, 1980): A director famous for creating descents into cinematic madness, Stanley Kubrick adapts the Stephen King novel and in the process turns a haunted-house yarn into an unsettling meditation on how evil can renew itself through the ages. Jack Torrance (Jack Nicholson) is a writer who brings his wife (Shelley Duvall) and son (Danny Lloyd) for a stay at the Overlook Hotel. The family has the enormous place all to themselves, but, as Jack’s mind becomes frighteningly erratic and Danny encounters strange visions in the corridors, it becomes clear that they are not alone. Though it hardly lacks shocks, it is Kubrick’s masterful combination of music, mood and camera movement that makes it so indelibly creepy.

The Corpse Bride (Tim Burton, 2005): The creative force behind the Halloween stop-motion favorite "The Nightmare Before Christmas," Tim Burton directed his own bit of animated magic with this inventive, delightfully unearthly story. Taking place during the Victorian 1800s, the plot follows the misadventures of timid Victor Van Dort (voiced by Johnny Depp), whose arranged marriage to Victoria (Emily Watson) is derailed by a ghostly turn of events. Suddenly, Victor finds himself in the underground realm of the dead, where he's engaged to the fetching and temperamental Corpse Bride (Helena Bonham Carter). Stuck between two brides in different worlds, what's an anxious groom to do? With richly dark visuals and a standout Danny Elfman score, Burton creates a beguiling love story in the most unlikely setting.

 

Dachshund Mix
Tallahassee, FL  Adopt-a-Dog

Lucy is a precious 7 month old mostly Wire-Haired Dachshund/terrier mix. She loves to sit in your lap, watch TV and fall asleep. She plays well with other dogs and her toys. Lucy is crate trained. Like any puppy she picks up everything on the floor to chew, particularly likes to find paper towels, tissue and toilet paper rolls (her favorite).

My approximate weight is:  20 lbs

My approximate age is:  7 months

My adoption fee is: $250

Like all Leon County Humane Society dogs, this one is already spayed or neutered, up-to-date on vaccinations, microchipped, and tested free of heartworms.

•  Leon County Humane Society
• Pet ID #: 7792716
• Phone: (850) 224-9191
• E-mail:
  info@lchs.info
• Website:
  http://www.lchs.info/
• Address:
  413 Timberlane Rd
  Tallahassee, FL 32312

 

Adopt a Pet
http://www.adoptapet.com/

News Briefs----

ICBA Urges Balanced Approach to Proposed Expansion of Mortgage-Data Reporting Rules
http://www.icba.org/news/newsreleasedetail.cfm?ItemNumber=187701

Judge approves Stockton’s plan to repay creditors, leaving pensions intact
http://www.sacbee.com/news/business/article3474893.html

GDP takeaways: It could be as good as it gets
http://www.ft.com/intl/cms/s/0/b8f3b2f6-604a-11e4-88d1-00144feabdc0.html#axzz3HhrSjRUe

Members of the world’s richest club make half-a-million bucks per minute
http://www.marketwatch.com/story/members-of-the-worlds-richest-club-make-half-a-million-bucks-per-minute-2014-10-30

Hazmat-suit maker’s shares jump on Ebola orders
http://www.marketwatch.com/story/hazmat-suit-makers-shares-jump-on-ebola-orders-2014-10-30

GM spokesman becomes 'Chevy Guy' thanks to 'technology and stuff'
http://money.cnn.com/2014/10/30/media/chevy-guy/index.html?iid=SF_BN_Lead

Apple CEO says he's 'proud to be gay'
http://online.wsj.com/articles/apple-ceo-cook-says-hes-proud-to-be-gay-1414715814

STRADA Capital recently moved into its new facility and is hiring Top Sales Producers to work in our Equipment Financing and Working Capital Divisions. High Level Performance, Collaborative Creativity, Integrity and Transparency define our Culture. The Company offers generous commission plans, industry leading support and benefits. Email your resume to: SalesCareers@STRADAcapital.com www.STRADAcapital.com The Place where Professionals Prosper

[headlines]
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--You May Have Missed It

15 songs that define Boomers (Slideshow)
http://www.marketwatch.com/story/rock-on-15-songs-that-define-boomers-2014-10-29

[headlines]
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SparkPeople--Live Healthier and Longer

Get Fit before You Feast: A November Challenge!
http://www.sparkpeople.com/blog/blog.asp?
post=get_fit_before_you_feast_a_november_challenge

[headlines]
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Football Poem

[headlines]
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Sports Briefs----

Knicks spoil LeBron's return
http://scores.espn.go.com/nba/recap?gameId=400578310

Sean Payton: Playing Sunday night then traveling for Thursday game in same week is 'crazy'
http://www.nola.com/saints/index.ssf/2014/10/
sean_payton_logistics_of_thurs.html#incart_maj-story-2

Cubs get their man
http://sports.yahoo.com/news/cubs-had-little-choice-but-to-act-swiftly--coldly-in-pursuit-of-their-ray-of-hope-232439501.html

Giants rasie the bar for Bay Area teams
http://www.contracostatimes.com/marcus-thompson/ci_26832953/thompson-giants-dynasty-raises-bar-bay-area-teams

 

(Leasing News provides this ad “gratis” as a means
to help support the growth of Lease Police)

 

[headlines]
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California Nuts Briefs---

Google grows with $1.6 billion in Silicon Valley property deals
http://www.businessmirror.com.ph/google-grows-with-1-6-billion-in-silicon-valley-property-deals/ 

Fintech Sandbox Scores a Crucial ‘Lead Sponsor’: Silicon Valley Bank
http://bankinnovation.net/2014/10/fintech-sandbox-scores-a-crucial-lead-sponsor-silicon-valley-bank/

[headlines]
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“Gimme that Wine”

http://www.youtube.com/watch?v=EJnQoi8DSE8

US Faces Wine Tariff Hikes in Trade Dispute
http://www.thedrinksbusiness.com/2014/10/us-faces-wine-tariff-hikes-in-trade-dispute/

Collector's 2,447 Bottles Headed for the Sink
http://www.thedrinksbusiness.com/2014/10/2447-bottles-headed-for-the-sink/

Sonoma County cracks down on Bella Vineyards
http://www.pressdemocrat.com/news/2987884-181/sonoma-county-cracks-down-on

To Kalon: Napa’s First-Growth Vineyard
http://www.winespectator.com/webfeature/show/id/50729

Passion, determination, drive East Texas winemaker
http://www.tylerpaper.com/TP-Food/207245/wine-industry-vibrant-growing-in-texas#.VEmhjPnF-VM

Mexico’s Burgeoning Wine Scene
http://online.wsj.com/articles/mexicos-burgeoning-wine-scene-1414074070

Napa Vintners Giddy about 2014 Harvest
http://napavalleyregister.com/lifestyles/food-and-cooking/wine/columnists/george-starke/harvest-news/article_930e7783-bfb2-5849-a95c-3655c468137a.html

A Rare Tour Inside a Thousand-Year-Old High-Tech Winery
http://gizmodo.com/a-rare-tour-inside-a-thousand-year-old-high-tech-winery-1644867958

Amador couple strives for sangiovese success
http://www.sacbee.com/food-drink/wine/dunne-on-wine/article3217265.html

Free Mobile Wine Program
http://leasingnews.org/archives/Feb2010/2_26.htm#mobile

Wine Prices by vintage
http://www.winezap.com
http://www.wine-searcher.com/

US/International Wine Events
http://www.localwineevents.com/

Leasing News Wine & Spirits Page
http://two.leasingnews.org/Recommendations/wnensprts.htm