Community Capital Bank triples loans (Times-Dispatch)
Virginia Community’s new bank, Community Capital Bank, completed its first full year of operations by posting a small $113,000 loss for 2009 — while seeing loans triple, to $8.4 million, at a time when most banks reported little activity.
Local banks suffer losses, yet deposits are up (Inside Business)
The good news is the region’s 12 locally-based banks held a combined $8.2 billion in deposits at year’s end, a sizeable increase from the $5.61 billion in deposits in 2008. All 12 saw their deposit bases increase year over year. The bad news is those same 12 banks reported a combined $527.53 million in past due and non accrual loans in 2009, a more than $445 million increase from ’08 when the combined figure stood at $81.81 million.
New round of foreclosures threatens housing market (Washington Post)
The housing market is facing swelling ranks of homeowners who are seriously delinquent but have yet to lose their homes, and this is threatening a new wave of foreclosures that could hit just as the real estate market has begun to stabilize.
Report Details How Lehman Hid Its Woes as It Collapsed (NY Times)
The report, compiled by an examiner for the bank, now bankrupt, hit Wall Street with a thud late Thursday. The 158-year-old company, it concluded, died from multiple causes. Among them were bad mortgage holdings and, less directly, demands by rivals like JPMorgan Chase and Citigroup, that the foundering bank post collateral against loans it desperately needed.
How to Deal With a Huge Customer (Inc.)
At one time or another, every entrepreneur dreams of landing a huge piece of business. But big clients also tend to create big headaches. This survival guide will help you prepare for taking on big accounts.
The Truth (About Loans) is Out There (Entrepreneur)
We found three bankers who actually want to make loans to small businesses. Here’s what they have to say.
The Weekly-Wind-Down: Make-A-Reasonable-Request Foundation Provides Sick Child With Decent Seats Game (The Onion)
SATIRE: “Satisfying the modest hopes of children like Cody is so rewarding,” said president Tom Jameson, whose organization aims to fulfill the most practical wishes of children suffering from terminal illnesses.