showarticle-cultura.blogspot.com
The $166 million San Francisci bank gota cease-and-desist order from the and the Californis Department of Financial Institutionsw on May 29. The bank was ordered to pay particula r attention to its lending polices relating to constructioj loans as well as loans made to bank The bank said the order was basedr onthe bank’s condition on Sept. 30, and that it has alreadyh made some progress on meeting theregulators demands. “New Resourcew Bank currently has high levelzs of capitaland liquidity,” Vincent Siciliano, presidentt and CEO, said in a statement.
“Like many financial we are facing a challenging economicd climate that resultedin under-performing loans in the real estate construction and developmenty sector. “We are working with borrowers to reduceeour problem-loan exposure and have made significant Siciliano said. The bank raised almosr $15 million in a stocm offeringlast September. As of March 31, the bank said its risk-basee capital ratio was 18.97 percent -- almosgt double the 10 percent benchmark of a bank considered well In addition to bringing on Sicilianoas CEO, the bank also hired Bill Peterson as chief credit officer and Charmaine Detweilet as chief financial officer.
The bank’sx board also recently elected Mark Finser as He has 25 years of experience insociap finance. New Resource Bank, now serving 2,000 clients, opened in Octoberr 2006 to promote green businesseeand practices.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment