Eclipse Bank names new president, CEO Jun 23, 2009
Most recently, Stratton was senior vice president, district manager and team sales leader at KeyBank Real Estate Capital, part of Cleveland-based KeyCorp, in Las Vegas in the mid-2000s before becoming involved with the startup of Nevada Pacific Bank. Nevada Pacific was incorporated in November 2008 with conditional approval from the Federal Deposit Insurance Corp. and Nevada s Financial Institutions Division, Stratton said. (Louisville Business First, KY)
S&P downgrades Fifth Third, 21 other banks Jun 20, 2009
09; KeyCorp (NYSE: KEY) dropped 6 percent, or 37 cents, to $5. 55; and PNC Financial (NYSE: PNC) fell about 2 percent, or 86 cents, to $38. (Cincinnati Business Courier, OH)
Dow's 3-Day Dive Halted; Nasdaq Jun 19, 2009
Financial stocks led the way up for the markets as banks like KeyCorp (KEY) and Wells Fargo (WFC) bounced back after the group sold off Wednesday on a slew of credit ratings downgrades. Stocks turned solidly positive after the Philadelphia Fed's regional manufacturing survey surged in June to a -2. (Fox News)
Standard & Poor's cuts ratings on 18 banks Jun 18, 2009
Ratings were also cut on Associated Banc , Astoria , Carolina First Bank, Citizens Republic Bancorp , Comerica , Fifth Third Bancorp , Huntington Bancshares , KeyCorp , Susquehanna Bancshares , Synovus Financial , U.S. Bancorp, Webster , Whitney Holding and Wilmington Trust. The ratings of Carolina First Bank, Citizens Republic Bancorp, Huntington Bancshares, Synovus Financial and Whitney Holding were cut to junk status from investment-grade levels. (USA Today -- Money)
Report: National City wanted Fifth Third to move HQ Jun 16, 2009
The court documents say Pittsburgh-based (NYSE: PNC), Cleveland-based KeyCorp (NYSE: KEY) and Toronto-based Scotiabank also made bids in March 2008. PNC offered up to $6. (Cincinnati Business Courier, OH)
Financial stocks pull US mkt higher Jun 5, 2009
Financial, energy stocks pull US market higher- Global Markets-Markets-The Economic Times. Financial, energy stocks pull US market higher5 Jun 2009, 0608 hrs IST, AGENCIES. (India Times)
Bulls Retake the Wheel; Banks Lead Bounce Back Jun 5, 2009
Existing users please login. Remember me on this computer. (Fox News)
US stocks up fifth time in six days Jun 5, 2009
Web search enhanced by. Published: Friday June 5, 2009 MYT 7:33:00 AMUpdated: Friday June 5, 2009 MYT 11:36:01 AM. (The Star Online, Malaysia -- Business)
Asian Stocks Head for Third Weekly Gain; BHP, Rio Tinto Surge on Venture Jun 5, 2009
Keycorp surged 20 percent after RBC Capital Markets named the bank a top pick, while Goldman Sachs Group Inc. rose 5. 2 percent as Sanford C. Bernstein & Co. raised the shares to outperform. (Bloomberg -- Asia)
Wall Street rises Jun 5, 2009
Shares of Goldman Sachs rose more than five percent after Sanford C. Bernstein & Co. raised the bank to "outperform." And RBC Capital Markets regarded Keycorp as a "top pick.". Meanwhile, Exxon Mobil and Chevron led energy stocks higher as oil rebounded from yesterday's losses. (Xinhuanet, China)
First Financial, Huntington, Key proceed with offerings Jun 4, 2009
KeyCorp (NYSE: KEY) on Wednesday commenced an offer to exchange its common shares for all outstanding shares of its 7. 750 percent noncumulative perpetual convertible preferred stock series A.. (Cincinnati Business Courier, OH)
KeyCorp raises $1B through stock sale Jun 4, 2009
The Cleveland-based company said the shares were sold in an at the market offering, meaning there will be no fixed price and shares will be issued to the market over a period of time, at KeyCorp s discretion ... KeyCorp (NYSE: KEY), which is parent to , said the sale is the first leg of its action plan for increasing its Tier 1 common equity capital ... Although KeyCorp meets the regulatory requirements for being well-capitalized today, with capital in excess of all required regulatory measures,... (Albany Business Review, NY)
BofA, JPMorgan, Others Raise $19 Billion Jun 3, 2009
Also, KeyCorp said it has raised $1. 3 billion, including $1 billion from selling stock, to help plug a $1. (ABC News -- Wire)
Stocks Crawl to Positive Finish Jun 3, 2009
KeyCorp (KEY) touched a 52-week low after the regional bank said it plans to up its share offering to $1 billion. DeVry (DV) saw its shares rise a day after Standard & Poors announced the education company will replace GM in the S&P 500. (Fox News)
Banks earned $7.6 billion in first quarter after record loss in fourth May 29, 2009
SunTrust Banks Inc. of Atlanta; KeyCorp of Cleveland; Fifth Third Bancorp of Cincinnati; and PNC Financial Services Group Inc. of Pittsburgh. The tests were a key part of the Obama administration's plan to fortify the financial system. (Madison Daily Leader, SD)
Initial jobless claims drop unexpectedly May 29, 2009
Cleveland-based bank KeyCorp said it will cut 300 jobs during the second quarter, while Japanese camera maker Nikon Corp. said it will lay off 1,000 workers, including some in the United States. Click for related content. (MSNBC -- Business)
Regions, Fifth Third Selling Stock to Add Capital May 21, 2009
Other lenders that have announced steps to bolster capital in light of the stress tests are Bank of America Corp , Citigroup Inc , KeyCorp , Morgan Stanley , PNC Financial Services Group Inc , SunTrust Banks Inc and Wells Fargo FC.N. 1. (ABC News -- Wire)
Fifth Third likely to convert preferred shares May 13, 2009
(NYSE: BAC), KeyCorp (NYSE: KEY), (NYSE: MS) and (NYSE: WFC) have all said they will sell common stock to the public to raise the necessary capital required by the stress tests. and each raised their investment rating on Fifth Third s stock after the stress-test results were released. (Cincinnati Business Courier, OH)
US banks scramble for capital May 13, 2009
KeyCorp, told to raise $US1 ... 50, and KeyCorp fell 4. (Sydney Morning Herald -- Business)
Four big US banks to sell stock, eye repaying TARP May 12, 2009
5bil and KeyCorp US$750mil ... US Bancorp, Capital One and BB among the nine found not to need more capital, while KeyCorp was ordered to raise US$1 ... KeyCorp said it may conduct other transactions that result in more common stock issuance. (The Star Online, Malaysia -- Business)
Big U.S. Banks Selling Stock to Repay Government TARP Money May 12, 2009
Separately, KeyCorp said it would sell $750 million of stock to help plug what regulators called a $1 ... KeyCorp said it may take other actions, including converting other securities to common stock. (ABC News -- Business)
Stock offerings weigh on shares, hint at growing markets May 12, 2009
NEW YORK - KeyCorp, which is among 10 major banks ordered by the government to raise more capital as a buffer against future losses, joined several other banks yesterday in announcing public stock offerings ... KeyCorp shares fell 69 cents to $6. (Boston Globe)
Wall Street takes break after stron rally May 12, 2009
KeyCorp, which is one of the 10 major banks the government said has to raise more capital to protect against possible loan losses, also said it would offer up to $750 million of its shares. Key fell 43 cents, or 6. (Atlanta Journal-Constitution)
More cash-raising plans for banks May 12, 2009
US Bankcorp, Capital One, BB&T and Keycorp plan to raise $6bn (4 ... Of the four, all but KeyCorp, passed the US Treasury's "stress tests" and were not told they needed to raise extra funds ... KeyCorp - which regulators said had a capital shortfall of $1. (BBC News -- Business)
KeyCorp to raise $750M through stock sale May 12, 2009
Although KeyCorp meets the regulatory requirements for being well-capitalized today, with capital in excess of all required regulatory measures, the stress test determined that under the what-if scenario of a much harsher economic environment, the Cleveland bank would be best served by raising the level of its Tier 1 capital. KeyCorp officials said additional actions are under consideration, including public or private transactions in which certain outstanding Tier 1 capital instruments are... (Columbus Business First, OH)
Banks to raise capital to repay U.S. loans May 12, 2009
Regional banks Regions Financial Corp., SunTrust Banks Inc., KeyCorp, Fifth Third Bancorp, and PNC Financial Services Group Inc. also need to raise funds. Among the other banks that the government did not ask to raise more capital were JPMorgan Chase & Co., investment bank Goldman Sachs Group Inc., insurer MetLife Inc. and credit card lender American Express Co.. (MSNBC -- Business)
Fifth Third, Key Bank told by Feds to raise more cash May 9, 2009
Bank diagnosis: More money needed KeyCorp, Fifth Third and PNC (formerly National City) could be in trouble if the recession worsens and will need to raise capital, the government's "stress tests" concluded ... " Despite the government's findings, officials from Cleveland's KeyCorp and Cincinnati-based Fifth Third believe they are adequately capitalized. "The government is saying banks need to have a tangible common equity of 4 percent or more," McCormick said. KeyCorp's tangible common equity... (Cincinnati Nation)
10 big banks need to raise $75B in new capital May 9, 2009
SunTrust Banks Inc. of Atlanta; KeyCorp of Cleveland; Fifth Third Bancorp of Cincinnati; and PNC Financial Services Group Inc. of Pittsburgh. The banks will have until June 8 to develop a plan and have it approved by their regulators. (Honolulu Advertiser)
BofA setting strategy after stress tests May 9, 2009
1 billion), KeyCorp (1. 8 billion), PNC Financial Services Group Inc. ($600 million), Regions Financial Corp. ($2. (Charlotte Business Journal, NC)
Banks unveil cash-raising plans May 9, 2009
Page last updated at 21:53 GMT, Friday, 8 May 2009 22:53 UK. Wells Fargo is one of the first banks to outline its plans. (BBC News -- Business)
Stress test: 5/3, Key need capital May 9, 2009
5/3, KeyCorp need capital, Fed stress test finds - Business First of Columbus ... 5/3, KeyCorp need capital, Fed stress test finds ... Two of those banks are from Ohio Fifth Third, based in Cincinnati, and Cleveland-based KeyCorp. (Columbus Business First, OH)
More acquisitions, failures in store for US banks May 9, 2009
Meanwhile, foreign banks - notably stable Canadian banks like Royal Bank of Canada, Toronto Dominion and Bank of Montreal - could end up targeting mid-sized banks such as SunTrust Banks Inc. of Atlanta, KeyCorp of Cleveland, or Fifth Third Bancorp of Cincinnati, Ely said. Whether small or large, banks have learned from the recent spate of shotgun match-ups that determining an appropriate acquisition price is key. (Fresno Bee -- Business)
* US bank stress test results 'not scary' May 9, 2009
The five other firms found to need more of a capital cushion are all regional banks X Regions Financial Corp of Birmingham, Alabama; SunTrust Banks Inc of Atlanta; KeyCorp of Cleveland; Fifth Third Bancorp of Cincinnati and PNC Financial Services Group Inc of Pittsburgh. The banks will have until June 8 to develop a plan and have it approved by their regulators. (Taipei Times, Taiwan)
KeyCorp passes stress test but needs to raise $1.8B May 9, 2009
KeyCorp passes stress test but needs to raise $1 ... KeyCorp passes stress test but needs to raise $1 ... However, KeyCorp (NYSE: KEY) does need to enhance the composition of its capital. (Albany Business Review, NY)
'Stress Test' says SunTrust Short of Cash May 9, 2009
2 billion; Cleveland's KeyCorp. needs $1. (13WMAZ.com, GA)
Banks' stress tests results May 8, 2009
The remaining stress-tested banks are: Goldman Sachs Group Inc., Morgan Stanley, MetLife Inc., PNC Financial Services Group Inc., U.S. Bancorp, GMAC, SunTrust Banks Inc., State Street Corp., Capital One Financial Corp., BB., Regions Financial Corp., Fifth Third Bancorp and Keycorp. Financial stocks surged Wednesday amid reports on the stress tests. (Pocatello Idaho State Journal, ID)
Viable but vulnerable May 8, 2009
If there is in fact no appetite to let losers fail, then the real losers are the market at large, the government and the taxpayers,"-- Jaidev Iyer, former risk management chief at CitigroupSOURCE: AP WASHINGTON -- Ten of the nation's largest financial firms need to raise $75 billion more to withstand the losses that would come with a deeper recession, the government said Thursday in a report card that found the banking system viable but still vulnerable. The Federal Reserve, issuing the... (Erie Times-News, PA)
Stress tests show 10 big banks must raise total of $75 billion May 8, 2009
Search hundreds of franchises and business opportunities to find the one that is right for you. Quick Request Form: Request information from your favorite franchises and business opportunities. (USA Today -- Money)
Tests find 10 needy banks May 8, 2009
The 10 include big names like Bank of America and Citigroup Inc. but also five regional banks, including Cleveland-based KeyCorp, whose KeyBank N.A. is the largest financial institution in the Capital Region, based on deposits ... KeyCorp would need to raise $1. (Albany Times Union)
Stress Test Results May 8, 2009
NPR: Bank Stress-Test Results. Bank Stress-Test Results. (NPR)
5 Regional Banks Must Raise $8.2B After Tests May 8, 2009
The two regional banks based in the Southeast, Regions Financial Corp. and Suntrust Banks Inc., got bigger capital-raising mandates than the three based in the Midwest Fifth Third Bancorp, KeyCorp and PNC Financial Services Group Inc. Minneapolis-based U.S. Bancorp and BB. in Winston-Salem, N.C., do not need to raise additional money ... 2 billion; Cleveland's KeyCorp needs $1. (ABC News -- Wire)
7 Regional Banks Subjected to Federal Stress Tests May 8, 2009
Five of the seven Regions Financial Corp., SunTrust Banks Inc., KeyCorp, Fifth Third Bancorp and PNC Financial Services Group Inc. were found to need more capital. All already have received from funds from the federal Troubled Asset Relief Program, or TARP.. (ABC News -- Wire)
Will More Banks Need More Funds? May 8, 2009
SunTrust Banks Inc. of Atlanta; KeyCorp of Cleveland; Fifth Third Bancorp of Cincinnati; and PNC Financial Services Group Inc. of Pittsburgh. Among the banks that the government did not ask to raise more capital were JPMorgan Chase brokerage house Goldman Sachs Group Inc., insurer MetLife Inc. and credit card companies Capital One Financial Corp. and American Express Co.. (ABC News -- Wire)
PNC on bank shortfall list May 8, 2009
Search post-gazette NOW. PNC Financial Services Group Inc., the biggest bank in the region and state, is one of 10 major financial institutions that must boost capital as a safety net against continued declines in the economy, according to the results of the federal government's long-awaited "stress tests" of the nation's 19 largest banks. (Pittsburgh Post-Gazette, PA)
Stress test results provide 'clarity' May 8, 2009
Smaller lenders such as Fifth Third Bancorp, KeyCorp. Regions Financial Corp. and SunTrust Banks Inc. must raise between $1-billion and $3-billion apiece. (Globe and Mail)
Fifth Third stock jumps ahead of test results May 8, 2009
The report didn t mention the six remaining banks that underwent the test, including Fifth Third and three others that operate locally: U.S. Bancorp (NYSE: USB); PNC Financial Services Group (NYSE: PNC); and KeyCorp (NYSE: KEY) ... 40; and KeyCorp was down 11 percent, or 83 cents, to $6. (Cincinnati Business Courier, OH)
Stress tests: U.S. banks urged to raise $75 bln May 8, 2009
Regions Financial Corp., Fifth Third Bancorp, KeyCorp, PNC Financial Service Group Inc. and SunTrust Banks also were told to bolster their reserves. By contrast, Bank of New York Mellon Corp, American Express Co., Capital One Financial Corp, Goldman Sachs Group Inc, JPMorgan Chase & Co., U.S. Bancorp, BB&T Corp., State Street Corp. and MetLife Inc do not need capital. (Xinhuanet, China)
Treasury hangs out Wall Street's dirty laundry May 8, 2009
" The "good" banks:J.P. Morgan Chase Goldman Sachs MetLife Bank of New York Mellon State Street Capital One Financial Corp. American Express BB&T U.S. BancorpThe "bad" banks (followed by the amount of additional capital required by the government):Bank of America: $33.9 billion Wells Fargo: $13 billion GMAC: $11.5 billion Citigroup: $5.5 billion Regions Financial Corp.: $2.5 billion SunTrust: $2.2 billion Morgan Stanley: $1.8 billion KeyCorp: $1.8 billion Fifth Third Bancorp: $1.1 billion PNC... (Salon)
Ten US banks fail 'stress tests' May 8, 2009
Page last updated at 06:55 GMT, Friday, 8 May 2009 07:55 UK. Ten US banks fail 'stress tests. (BBC News -- Business)
Stress test: 5/3, PNC, Key need capital May 8, 2009
5/3, PNC, KeyCorp need capital, Fed stress test finds - Dayton Business Journal ... 5/3, PNC, KeyCorp need capital, Fed stress test finds ... Besides Cincinnati-based Fifth Third (NASDAQ: FITB), two other banks with local operations, Cleveland-based KeyCorp (NYSE: KEY) and Pittsburgh-based PNC Financial Services Group (NYSE: PNC) will need to raise capital. (Dayton Business Journal, OH)
Stress Test Results: What It All Means May 8, 2009
The regional banks: Five of the largest regional banks need to raise capital: Regions Financial Corp. and Suntrust Banks Inc. in the Southeast and Fifth Third Bankcorp, KeyCorp and PNC Financial Services Group Inc. in the Midwest. U.S. Bancorp. (KSBW 8, CA)
Results of bank stress tests leak ahead of report May 7, 2009
The remaining stress-tested banks are: Goldman Sachs Group Inc., Morgan Stanley, MetLife Inc., PNC Financial Services Group Inc., U.S. Bancorp, GMAC, SunTrust Banks Inc., State Street Corp., Capital One Financial Corp., BB., Regions Financial Corp., Fifth Third Bancorp and Keycorp ... The 19 companies that were tested are: JPMorgan Chase Citigroup Inc., Bank of America Corp., Wells Fargo Goldman Sachs Group Inc., Morgan Stanley, MetLife Inc., PNC Financial Services Group Inc., U.S. Bancorp, Bank... (The Star Online, Malaysia)
Bank of America needs $34-billion in capital: source May 7, 2009
Analysts believe other banks that may need capital include Wells Fargo & Co., Fifth Third Bancorp, GMAC LLC, KeyCorp, PNC Financial Services Group Inc., Regions Financial Corp. and SunTrust Banks Inc. Among the banks that may not are Bank of New York Mellon Corp., Goldman Sachs Group Inc. and JPMorgan Chase & Co., analysts said. If banks are required to raise more capital than expected, it may unnerve investors who had hoped the stress tests might show the industry was in less dire condition... (Globe and Mail -- Business)
3 banks may have passed stress tests May 7, 2009
Analysts believe other banks that may need capital include Fifth Third Bancorp, GMAC LLC, KeyCorp, PNC Financial Services Group Inc., Regions Financial Corp. and SunTrust Banks Inc., according to Reuters. . (MSNBC -- Business)
Bank stress tests show some banks need more funds May 7, 2009
The remaining stress-tested banks are: Goldman Sachs Group Inc., Morgan Stanley, MetLife Inc., PNC Financial Services Group Inc., U.S. Bancorp, GMAC, SunTrust Banks Inc., State Street Corp., Capital One Financial Corp., BB., Regions Financial Corp., Fifth Third Bancorp and Keycorp. Financial stocks surged Wednesday amid reports on the stress tests. (News & Observer)
BofA, Citi, Wells need capital under stress tests May 7, 2009
Analysts believe other banks that may need capital include Fifth Third Bancorp, KeyCorp, PNC Financial Services Group Inc and SunTrust Banks Inc.. PRESSURE ON BANK OF AMERICA CEO. (Yahoo News -- Top Stories)
Stress tests may show banks need cash injection to survive May 6, 2009
7 billion in Portland, Oregon, and owns shares of US Bancorp and KeyCorp, referring to the stock rally. Still, "for the stress test to have any sort of legitimacy, some of the banks are going to have to raise capital," he said. (Sydney Morning Herald -- Business)
Bank of America may need $US34b more May 6, 2009
Many analysts have speculated that other banking companies that may need more capital, either because they do not have enough tangible common equity or are experiencing rising loan losses, include Citigroup, Wells Fargo, Fifth Third Bancorp, GMAC, KeyCorp, Regions Financial and SunTrust Banks. CEO had said no capital needed. (Sydney Morning Herald -- Business)
Banks receving the results of stress test May 6, 2009
Other banks that have been the subject of such speculation including Cleveland-based KeyCorp and Cincinnati-based Fifth Third Bancorp posted similar gains as the financial sector led a 214-point rally in the Dow Jones industrial average. "Obviously, the market is not worried about (the stress tests) right now," said Robert Pavlik, chief market strategist at Banyan Partners LLC. "This is going to be seen as a giant non-event.". (MSNBC -- Business)
Bank of America to Need $34 Billion in Capital: Source May 6, 2009
Many analysts have speculated that other banking companies that may need more capital, either because they do not have enough tangible common equity or are experiencing rising loan losses, include Citigroup Inc, Wells Fargo ifth Third Bancorp, GMAC LLC, KeyCorp, Regions Financial Corp and SunTrust Banks Inc.. CEO HAD SAID NO CAPITAL NEEDED. (ABC News -- Wire)
Stress Tests Show Red Flags At Wells Fargo May 5, 2009
Cleveland-based KeyCorp and Cincinnati-based Fifth Third Financial Corp. are among the banks in this situation. Bank of America Corp. and Citigroup Inc. also will be asked to raise money, sources have told The Associated Press. (CBS News)
Upbeat Stress-Test Results Ignore Bad Bank Assets May 5, 2009
Other banks that have been the subject of such speculation including Cleveland-based KeyCorp and Cincinnati-based Fifth Third Bancorp posted similar gains. 1. (ABC News -- Wire)
Wells Fargo is reportedly told to raise capital May 5, 2009
Cleveland-based KeyCorp and Cincinnati-based are among the banks in this situation. and also have been disputing preliminary findings that they needed to boost capital, sources have told the Associated Press. (Boston Globe)
About 10 U.S. stress test banks to need more capital May 5, 2009
Reuters A Bank of America logo can be seen in a bank branch in New York April 28, 2009. REUTERS/Lucas Jackson. (Yahoo News -- Top Stories)
Bank stress test results delayed a few days May 2, 2009
Banks that carry such loans, including KeyCorp and SunTrust Banks Inc., are likely to be asked to improve their capital reserves, according to analysts. Repairing the nations banking system and getting credit flowing more freely to people and businesses is a necessary ingredient for trying to lift the country out of a recession that has dragged on since December 2007. (MSNBC -- Business)
