I do work for the company I have been blogging about, and they have been good to me. US Bank has paid for the majority of my education. I have a job that I love, which continually challenges me, and provides a great deal of flexibility for my family and myself.
Had I invested $100 at the beginning of the semester, and I were to sell today, I would have earned about $4. Considering what has been happening in the financial industry and the economy lately, just the fact that the stock price has stayed strong, even increased, is pretty amazing.
Saturday, December 12, 2009
Tuesday, December 1, 2009
US Bank plans to sell newly acquired branches
According to a recent U.S. Bank press release:
U.S. National Association announced Tuesday, November 25, 2009, that it was seeking buyers for the three Texas banks, Citizens National Bank of Teague, Madisonville State Bank of Madisonville, and North Houston Bank of Houston, acquired from the FDIC October 30, 2009. The three banks were a part of the acquisition of the banking subsidiaries of FBOP Corporation of Oak Park, Illinois. These three banks were acquired along with six other banks in California, Illinois, ans Arizona, which will remain a part of U.S. Bank. After these three banks are sold, US Bank will have no retail locations in Texas. The sales are expected to be completed early in the second quarter of 2010.
U.S. National Association announced Tuesday, November 25, 2009, that it was seeking buyers for the three Texas banks, Citizens National Bank of Teague, Madisonville State Bank of Madisonville, and North Houston Bank of Houston, acquired from the FDIC October 30, 2009. The three banks were a part of the acquisition of the banking subsidiaries of FBOP Corporation of Oak Park, Illinois. These three banks were acquired along with six other banks in California, Illinois, ans Arizona, which will remain a part of U.S. Bank. After these three banks are sold, US Bank will have no retail locations in Texas. The sales are expected to be completed early in the second quarter of 2010.
US Bank Stock Price
Stock Quote
USB (Common Stock)
Price 24.33 Change + 0.20
Volume 9,626,910 % Change 0.83%
Intraday High 24.44 52 Week High 29.90
Intraday Low 23.86 52 Week Low 8.06
Today's Open 24.26 Currency US Dollar
Previous Close 24.13 Exchange NYSE
12/01/09 2:28 p.m. ET Pricing delayed 20 minutes
USB (Common Stock)
Price 24.33 Change + 0.20
Volume 9,626,910 % Change 0.83%
Intraday High 24.44 52 Week High 29.90
Intraday Low 23.86 52 Week Low 8.06
Today's Open 24.26 Currency US Dollar
Previous Close 24.13 Exchange NYSE
12/01/09 2:28 p.m. ET Pricing delayed 20 minutes
Friday, November 20, 2009
Cyber Crooks and U.S. Businesses
According to Brian Krebs with The Washington Post,
The FBI reports that cyber criminals have stolen over $40 million from U.S. small and mid-size firms since 2004, with the majority of them happening since the end of 2008.
The bad guys steal the victim's online banking credentials using malicious software distributed through spam. The crooks then make unauthorized money transfers, just under the banking reporting limits. The money is put into the account of a "money mule". A money mule is a willing or unwilling individual recruited over the Internet, usually through work-at-home job scams. The mules are instructed to pull the money out of their account and wire it to the bad guys, typically via Western Union or MoneyGram. These criminal groups operate in counties like Moldova, Russia, and / or the Ukraine.
Businesses that bank on-line are not covered by the same protections as consumers who bank on-line. Typically, when a consumer is defrauded, the bank will make them hole. Businesses bear more responsibility / liability.
The full article may be viewed at:
http://voices.washingtonpost.com/securityfix/2009/10/fbi_cyber_gangs_stole_40mi.html
The FBI reports that cyber criminals have stolen over $40 million from U.S. small and mid-size firms since 2004, with the majority of them happening since the end of 2008.
The bad guys steal the victim's online banking credentials using malicious software distributed through spam. The crooks then make unauthorized money transfers, just under the banking reporting limits. The money is put into the account of a "money mule". A money mule is a willing or unwilling individual recruited over the Internet, usually through work-at-home job scams. The mules are instructed to pull the money out of their account and wire it to the bad guys, typically via Western Union or MoneyGram. These criminal groups operate in counties like Moldova, Russia, and / or the Ukraine.
Businesses that bank on-line are not covered by the same protections as consumers who bank on-line. Typically, when a consumer is defrauded, the bank will make them hole. Businesses bear more responsibility / liability.
The full article may be viewed at:
http://voices.washingtonpost.com/securityfix/2009/10/fbi_cyber_gangs_stole_40mi.html
CIT Bankruptcy
Based on an article in The Times,
CIT group is a leading lender to small businesses. CIT filed for chapter 11 bankruptcy Nov. 1, 2009.
CIT is a 101 year old company. They were given $2.3 billion, yes BILLION, in bail out money from the government. CIT group asked for more, but the Obama administration turned them down.
Preferred shareholders, including the US Treasury, which received preference shares in return for the TARP money, will be repaid only if there is money left over after paying the bondholders. Ordinary share holders will be automatically wiped out.
Link to the complete article at:
http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article6898854.ece
CIT group is a leading lender to small businesses. CIT filed for chapter 11 bankruptcy Nov. 1, 2009.
CIT is a 101 year old company. They were given $2.3 billion, yes BILLION, in bail out money from the government. CIT group asked for more, but the Obama administration turned them down.
Preferred shareholders, including the US Treasury, which received preference shares in return for the TARP money, will be repaid only if there is money left over after paying the bondholders. Ordinary share holders will be automatically wiped out.
Link to the complete article at:
http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article6898854.ece
Monday, November 16, 2009
US Bank Stock Quote
USB (Common Stock)
Price 23.38 Change - 0.1
Volume 17,994,756 % Change 0.43%
Intraday High 23.89 52 Week High 29.90
Intraday Low 23.18 52 Week Low 8.06
Today's Open 23.78 Currency US Dollar
Previous Close 23.48 Exchange NYSE
11/16/09 4:01 p.m. ET Pricing delayed 20 minutes
Price 23.38 Change - 0.1
Volume 17,994,756 % Change 0.43%
Intraday High 23.89 52 Week High 29.90
Intraday Low 23.18 52 Week Low 8.06
Today's Open 23.78 Currency US Dollar
Previous Close 23.48 Exchange NYSE
11/16/09 4:01 p.m. ET Pricing delayed 20 minutes
Thursday, November 12, 2009
ABA's Ten Tips to Spot Borrower Trouble
An interesting article was recently published by the American Banking Association (ABA), discusses the transparency of the BORROWER, providing ten tips to help a LENDER spot trouble.
(1) Failure to confront changed circumstances.
(2) Just listen.
(3) Observe "local business indicators."
(4) Mind the deposits.
(5) Look for any change in overdraft behaviors.
(6) Watch for late financial statements.
(7) Spend more time out of the bank and in the customers' places of business.
(8) Try to see the world as the customer sees it.
(9) Get your ducks in a row.
(10) Be mentally prepared for the worst.
See the entire article at:
http://www.ababj.com/blog/311.html
(1) Failure to confront changed circumstances.
(2) Just listen.
(3) Observe "local business indicators."
(4) Mind the deposits.
(5) Look for any change in overdraft behaviors.
(6) Watch for late financial statements.
(7) Spend more time out of the bank and in the customers' places of business.
(8) Try to see the world as the customer sees it.
(9) Get your ducks in a row.
(10) Be mentally prepared for the worst.
See the entire article at:
http://www.ababj.com/blog/311.html
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