Federal Regulators Approve Sale of Pasadena’s OneWest Bank

first_img Top of the News Name (required)  Mail (required) (not be published)  Website  Your email address will not be published. Required fields are marked * Get our daily Pasadena newspaper in your email box. Free.Get all the latest Pasadena news, more than 10 fresh stories daily, 7 days a week at 7 a.m. Community News EVENTS & ENTERTAINMENT | FOOD & DRINK | THE ARTS | REAL ESTATE | HOME & GARDEN | WELLNESS | SOCIAL SCENE | GETAWAYS | PARENTS & KIDS faithfernandez More » ShareTweetShare on Google+Pin on PinterestSend with WhatsApp,Virtual Schools PasadenaHomes Solve Community/Gov/Pub SafetyPASADENA EVENTS & ACTIVITIES CALENDARClick here for Movie Showtimes Make a comment Business News Herbeauty15 Countries Where Men Have Difficulties Finding A WifeHerbeautyHerbeautyHerbeautyWant To Seriously Cut On Sugar? You Need To Know A Few TricksHerbeautyHerbeautyHerbeautyThese Are 15 Great Style Tips From Asian WomenHerbeautyHerbeautyHerbeautyYou’ll Want To Get Married Twice Or Even More Just To Put Them OnHerbeautyHerbeautyHerbeauty7 Most Startling Movie Moments We Didn’t Realize Were InsensitiveHerbeautyHerbeautyHerbeautyTop 9 Predicted Haircut Trends Of 2020HerbeautyHerbeauty More Cool Stuffcenter_img First Heatwave Expected Next Week Subscribe Community News 8 recommended0 commentsShareShareTweetSharePin it Pasadena Will Allow Vaccinated People to Go Without Masks in Most Settings Starting on Tuesday Federal banking regulators have approved CIT Group Inc.’s purchase of Pasadena’s OneWest Bank, almost one year after the deal wasfirst announced.The merge is considered as one of the biggest recent bank deals in Los Angeles county, topped only by the planned acquisition of City National by Toronto’s Royal Bank of Canada.On Tuesday, July 21st, the federal Office of the Comptroller of the Currency (OCC) announced that it has granted conditional approval of the merger. The combined bank will change its name to CIT Bank, N.A.After the news was announced, CIT shares rose by as much as 4.6 percent to $49.27. the most in about a year. The stock price has increased by about 0.7 percent so far this year.OCC said it considered a number of public comments submitted in writing and expressed during a public hearing in February, and concluded that OneWest has satisfied the terms of the 2011 foreclose-related consent order. The order has been terminated.Opponents of the merger had slammed the two banks as beneficiaries of substantial public subsidies. They said CIT had gone bankrupt after receiving more than $2 billion in TARP funds – money that had not been paid back.A crucial part of the deal involved the Federal Deposit Insurance Corp. that agreed to absorb much of CIT’s bad debt under a loss-share agreement that will continue to benefit the merged bank.Since the loss-share deal was struck, OneWest’s original investors have pulled more than $2 billion in dividends out of the bank, and should make almost that much again through the sale to CIT.OneWest was known as IndyMac Bancorp before it went bankrupt in 2008. IndyMac made mortgages to people without verifying their income, prompting the Federal Deposit Insurance Corp. to take control in 2008.Though CIT will remain in New Jersey, the combined banks will have its headquarters in Pasadena. Business Districts News Federal Regulators Approve Sale of Pasadena’s OneWest Bank From STAFF REPORTS Published on Tuesday, July 21, 2015 | 4:26 pm Pasadena’s ‘626 Day’ Aims to Celebrate City, Boost Local Economy Home of the Week: Unique Pasadena Home Located on Madeline Drive, Pasadenalast_img read more

Tipp ladies footballers live to fight another day

first_imgPhoto © Ladies Football Facebook Tipp came up against old rivals Wexford in the Divison 3 final of the ladies football league.Shane Roynane’s team were hoping to continue their unbeaten run this season.Wexford took an early lead in that one with two goals early in the first half. However, Tipp rallied the troops and brought it back to a draw at full time.That game is now going to a replay – official details are yet to be announced, but it will be played on either May 13th or 14th.last_img read more

FA Elections: NFF warns against external interference

first_imgThe Nigeria Football Federation has reiterated its warning that, in line with the NFF Statutes, there must be no external influence in the conduct of elections into the boards of the Football Associations of the 36 States and the Federal Capital Territory.Speaking in Abuja yesterday, NFF Acting President, Barrister Seyi Akinwunmi made it clear that the Federation would not treat any State that runs foul of this important proviso as a sacred cow.“We are sending this important message to all the Football Associations of the 36 States and the FCT. Any State where it is found that external influence has played some role will be visited with the full sanctions applicable.“The Nigeria Football Federation is serious about this. All the Football Associations of the States and the FCT have a duty to observe the guidelines and the stipulations to the letter, in the true spirit of association football,” Akinwunmi said.Elections into the Boards of the Football Associations of the 36 States and the FCT have been scheduled for 15th – 28th February, 2015, with a number of the States having fixed dates for their elections already.The Elections Monitoring Committee is headed by Member of the NFF Executive Committee and Chairman of Chairmen, Alhaji Ibrahim Gusau.last_img read more

To the editor: Please take the time to be informed the old fashioned way

first_img Close Forgot password? Please put in your email: Send me my password! Close message Login This blog post All blog posts Subscribe to this blog post’s comments through… RSS Feed Subscribe via email Subscribe Subscribe to this blog’s comments through… RSS Feed Subscribe via email Subscribe Follow the discussion Comments (9) Logging you in… Close Login to IntenseDebate Or create an account Username or Email: Password: Forgot login? Cancel Login Close WordPress.com Username or Email: Password: Lost your password? Cancel Login Dashboard | Edit profile | Logout Logged in as Admin Options Disable comments for this page Save Settings Sort by: Date Rating Last Activity Loading comments… You are about to flag this comment as being inappropriate. Please explain why you are flagging this comment in the text box below and submit your report. The blog admin will be notified. Thank you for your input. +26 Vote up Vote down Big D · 210 weeks ago It wasn’t too many years ago when there was an opportunity for the packing plant to expand their operations and the city council pushed them away. With that, the employment increase and the increased revenues from employees spending their wages went West to Harper. We want our children to stay local and for people to buy local…..well we need to open to expansion and not just if it fits our personal fancy. Report Reply 1 reply · active 210 weeks ago -10 Vote up Vote down guest · 210 weeks ago That packing plant is an eye sore and it smells. I was out there yesterday talking to someone in the parking lot of the Chinese place. The smell was awful and the number of flies buzzing around was disgusting. I’ve driven from the packing plant to the round-a-bout and seen a trail of blood on the highway. Very unappealing to say the least. And remember, there’s a crosswalk for the Kennedy School kids to use…streaked with blood from the hauling of hides or whatever from the packing plant. That plant should have never been built so close to town. For you old timers you may recall, when they put that business in it was to be a no-kill plant. That changed. I’m glad they did NOT expand that stinky place. Report Reply +6 Vote up Vote down Chris Hutchens · 210 weeks ago I hope Cowley will include a GED class. Wellington really needs this service. They sponsored the classes that were given at the Senior Center several years ago. Report Reply 1 reply · active 210 weeks ago +6 Vote up Vote down guest · 210 weeks ago Dynamic Learning Center in Belle Plaine offers FREE GED classes. They are on-line, self-paced and laptop computers are made available to students. Shari Mills can help you enroll – open enrollment any time of the years. Dynamic Learning Center 823 Main St. Belle Plaine, Kansas 67013 Phone: 620-488-5638 Contact Shari Mills @ [email protected] Website: http://bp.getmydiploma.org/ Facebook: https://www.facebook.com/dynamiclearningcenterbp/… Report Reply +3 Vote up Vote down Tired Taxpayer · 210 weeks ago This is a for profit college. Why should it be subsidized with tax money? If it is profitable then they will come to Sumner County without a tax shake down. We are taxed enough already. It’s time this county cut some taxes. Lets try a novel idea of user fees. Pay for the service as you use it instead of forcing someone else to pay your bills. Report Reply 1 reply · active 210 weeks ago +5 Vote up Vote down SuCo Pride · 210 weeks ago Cowley College is a Kansas Community College, not a for-profit university. Report Reply +8 Vote up Vote down Belle · 210 weeks ago Great advice Phil White! Get informed people…we need Cowley College and this project in order to grow!! Please let our County Commisioners know you want to be heard!!! Report Reply 0 replies · active 210 weeks ago +8 Vote up Vote down Jeff · 210 weeks ago Mr. White: your points are well taken. However, please remember the average resident here has already been drained dry by the city council’s spending beyond our means, law suits, poor real estate transactions, draconian utility increases and a 12 million dollar school security bond. A few of us are still somewhat solvent, but John Q. Wellington is “busted flat in Baton Rouge” – as Janis Joplin would say. The piggy bank is empty, sir. This should (and could) have been done long ago before money was extinct. Report Reply 0 replies · active 210 weeks ago +5 Vote up Vote down LEAH SOMMERHOFF · 210 weeks ago So well written Phil, it is a great advance for not only Wellington, but for our County. Not to mention everyone it will serve as a great educational resource! Report Reply 0 replies · active 210 weeks ago Post a new comment Enter text right here! Comment as a Guest, or login: Login to IntenseDebate Login to WordPress.com Login to Twitter Go back Tweet this comment Connected as (Logout) Email (optional) Not displayed publicly. Name Email Website (optional) Displayed next to your comments. Not displayed publicly. If you have a website, link to it here. Posting anonymously. Tweet this comment Submit Comment Subscribe to None Replies All new comments Comments by IntenseDebate Enter text right here! Reply as a Guest, or login: Login to IntenseDebate Login to WordPress.com Login to Twitter Go back Tweet this comment Connected as (Logout) Email (optional) Not displayed publicly. Name Email Website (optional) Displayed next to your comments. Not displayed publicly. If you have a website, link to it here. Posting anonymously. Tweet this comment Cancel Submit Comment Subscribe to None Replies All new comments To the Editor:  It is looking like we as Sumner County citizens may be presented with an opportunity to take a step toward fighting our county’s population decline by welcoming Cowley College and its superb educational opportunities and technical training programs to Wellington!Phil WhiteSure, it’s a step that will cost each of us money, but it is perhaps the best opportunity our community has seen in quite a while.However, before we as taxpayers begin debating whether we can afford to help support such a facility, we owe it to ourselves to learn what is being proposed, what it truly will cost, and what economic benefit Sumner County can realistically expect.Contrary to what seems to be the trend, the answers to these questions are not found on social media or in anonymous comment sections. They’re found the old-fashioned way: Visiting in-person with those asking for our support. That’s also the best way to ask questions and voice any criticism we may have.We have the opportunity to do exactly that tomorrow, Monday, August 1st. Cowley College President Dennis Rittle and the Sumner County Economic Development will be hosting two town hall meetings. The meetings will be at 10 a.m. and at 6 p.m. Both will be in the Wellington High School Auditorium.Please do everything you can to attend one of these meetings so you can ask questions, voice your concerns, and ensure you are armed with direct information as you consider this important decision.Philip B. WhiteWellingtonFollow us on Facebook.Follow us on Twitter.last_img read more