Five Star Bank promoted Scott Bader to senior vice president and chief information security officer. In his role, Bader will be responsible for the execution and evolution of the bank’s information and cybersecurity program.
Financial Institutions, the parent company of Five Star Bank, SDN Insurance Agency, Courier Capital and HNP Capital, promoted CFO and treasurer W. Jack Plants II to executive vice president.
Bloomberg reported that for all the efforts to regulate banks since Lehman Brothers collapsed, stock investors have no more faith in U.S. financials now than they did in early 2008, relative to the rest of the market.
United Stationers extended its $700 million revolver maturity to July 6, 2018. J.P. Morgan Securities, U.S. Bank and Wells Fargo Securities served as joint lead arrangers.
The Fed said it has approved a final rule that establishes an integrated regulatory capital framework for larger banking organizations, while it minimizes the burden on smaller, less complex financial institutions.
1-800-FLOWERS.COM said it has entered into a new amended credit facility, comprised entirely of a $200 million revolver, with a syndicate of lenders led by JPMorgan Chase.
In an article that appeared in CFO magazine, the author notes that the latest exposure draft on accounting for credit losses from FASB could bring sweeping changes to the way banks account for credit losses on their balance sheets.
King & Spalding recruited finance and banking lawyers Chris D. Molen and J. Craig Lee as partners in its financial institutions practice in Atlanta. They join King & Spalding from Paul Hastings.
Bloomberg reported that top U.S. bank regulators and lawmakers are pushing for action to limit the risk that the government again winds up financing the rescue of one or more of the nation’s biggest financial institutions.
FTI’s New Co-Leaders of Corporate Finance & Restructuring: For a Couple of ‘Client Service Guys’ Optimism and Opportunity Abound
This summer, ABF Journal readers learned that Robert (Bob) Duffy and Kevin Lavin had been appointed to co-lead FTI’s Corporate Finance/Restructuring practice thereby joining the executive committee comprised of practice leaders of the firm’s five key business segments. While many would fret at what lies ahead in this relatively slow period for traditional restructurings, these self-admitted “client service guys” only see advantages and opportunities.