OAKBROOK TERRACE -- NAI Hiffman has been awarded the management of 28 Old Second Bank branches in 18 suburbs and Chicago. Old Second Bank is a full-service banking business providing customary consumer and commercial banking products and services. Its flagship bank, Old Second National Bank, was founded in 1871, while its parent entity, Old Second Bancorp Holding Company, was founded in 1982 and is headquartered in Aurora, Illinois. The addition of Old Second Bank to the NAI Hiffman client roster further expands NAI Hiffman's management platform providing the bank with access to its mobile engineering, project management services and the benefit of its significant buying power. "We are thrilled to have Old Second as a client and look forward to our management team delivering great customer service to its employees and bringing operating efficiencies to its portfolio of assets, while allowing the bank's team members to focus on their customers," commented Managing Director of Management … [Read more...] about NAI Hiffman to manage Old Second Bank branch properties
Second national bank
By Saeed Azhar DUBAI (Reuters) - Smaller banks in the United Arab Emirates are facing regulatory pressure to merge after the fallout from a property downturn forced the state to lead a bailout of Invest Bank <INVB.AD> last month. UAE has 50 commercial banks including 22 local lenders, a number seen as too high in a country of about 9.5 million people. Saudi Arabia, which has a population of 32 million, has 12 banks and is set to lose two of those if announced mergers are successfully concluded. After two of the UAE's biggest lenders, First Gulf Bank and National Bank of Abu Dhabi, merged in 2017 to become First Abu Dhabi Bank <FAB.AD>, three more lenders are in talks to combine, led by Abu Dhabi Commercial Bank <ADCB.AD>. Analysts expect mergers in the sector to accelerate given a slowing economy, slide in house prices, robust accounting standards and tougher competition. "There will be pressure on the bigger banks to absorb smaller lenders," said Sabah al-Binali, … [Read more...] about UAE bank bailout signals sector restructuring, mergers
provided by Published 9:00 am CST, Tuesday, January 1, 2019 MoneyTips Are you finding it difficult to open a new bank account due to a previous mismanaged account? Your bridges with your bank may not have burned down completely. Get back into your bank’s good graces with a second chance checking account. Fresh Start, Second Chance Checking Account According to an FDIC National Survey, as of 2015, 7% of U.S. households were unbanked, meaning that they do not have a traditional bank account. In some of these cases, bank accounts were closed due to mismanagement such as too many overdrafts, bounced checks, or fees that went unpaid. When a bank shuts down your account for this type of reason, the information is usually forwarded to ChexSystems, a company that serves as a security clearinghouse for banks and credit unions. If you are flagged in ChexSystems as a high-risk account, it can be difficult to get a new bank account to prove that you have learned your lesson … [Read more...] about Second Chance Checking 101
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The repo rate was increased from -0.50 percent to -0.25 percent. Sweden's currency reacted positively to the change, gaining 0.7 percent against the euro after the announcement. "The forecast for the repo rate indicates that the next rise is likely to occur in the second half of 2019. After that, the forecast indicates approximately two increases per annum of 0.25 percentage points on each occasion," the Riksbank said on Thursday. Annika Winsth, Nordea bank's head economist, called the rise a "clever decision". Speaking to the TT newswire, Winsth said: "[The Riksbank] had been very clear that they would raise interest rates today. Then, statistics came in that were much weaker compared to when they made that statement and it put them in a very difficult situation, the market has been very uncertain of the message they would receive today. Now, they have stuck to what was communicated, and I think that's wise." The Riksbank took the landmark decision to slash the key interest rate, … [Read more...] about Sweden’s national bank raises rate for first time since 2011