sources is mixed, as near-term reductions in credit lines must be balanced against the pending acquisition of Southern Commerce Bank . Upon closing, that purchase will afford NewStar a deposit base and access to the Federal Reserve.
NewStar's precarious funding position was somewhat ameliorated by the announcement that it intended to purchase Southern Commerce Bank . NewStar's access to funding should become more certain upon completion of the deal, thanks to the acquired bank's
NewStar Financial NEWS has agreed to acquire Florida-based Southern Commerce Bank . The acquisition price will be based on the tangible book value of Southern Commerce on the closing date, but preliminary estimates
Commerce Bancshares CBSH reported very solid second-quarter results. Positives included in-line provision expense and credit losses (up just 0.09% compared to the first quarter), stable nonaccrual loan levels and delinquencies, net interest margin expansion, and a very strong capital position. All
our above-average risk rating. The stock price has dropped substantially since late June, when news broke of two Commerce bank officers' arrests and a pending investigation into the bank's involvement in a "pay-for-play" scandal. Given