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For the first time in several years, bank stocks rose across the board last year. Stock prices also rose at the three national banks that operate in the Pikes Peak region: Wells Fargo and Co., U. S. Bancorp, and JPMorgan Chase and Co. Wells Fargo and Co.’s stock stood at $31.65 per share earlier this… Continue Reading Bank stocks increase, but not to pre-recession levels

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2011 Forecast: Hoping for a return of lending

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Although lending is not likely to increase dramatically, there is some hope that 2011 will mean better things in the banking world. The healthiest local banks — 5 Star Bank, The Bank at Broadmoor, Central Bank and Trust, and FirstBank — are staying the course, maintaining capital levels and working through whatever bad loans they… Continue Reading 2011 Forecast: Hoping for a return of lending

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Carnick and Co., a fee-only financial planning firm based in Colorado Springs, is wrapping up what it says was the best year in the firm’s 35-year history. The company has averaged 16-percent growth each year for the last 10 years. This year, that percentage jumped to 22 percent. Founder and President Craig Carnick said there… Continue Reading Carnick and Co. wraps up best year in 35-year history

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FirstBank Holding Co. has consolidated its 25 charters, forming a single charter, simply called FirstBank. The bank is based in Lakewood, Colo., and has 10 branches in Colorado Springs. Customer accounts, checks and statements will remain the same, as will all branches and ATM sites. But the change will definitely have an impact on the… Continue Reading FirstBank streamlines, consolidates its 25 charters

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Executive shuffle under way at area banks

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Upheaval and uncertainty. There’s been no shortage of either at area banks, even those with solid balance sheets. In the past six months, some of these banks have also seen what’s often inevitable in Corporate America: Changes at the top. Four financial institutions with a footprint in the area have recently lost or replaced their… Continue Reading Executive shuffle under way at area banks

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First it’s up, then it’s down — confidence in the economy, that is. After the economy made several forays into positive territory with consecutive quarters of higher-than-expected gross domestic product growth, consumer and banker confidence rose. These days, however, bankers don’t remain long in optimistic territory without a compelling reason. In the central region, which… Continue Reading Bankers tepid on terms of nation’s economic recovery

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JPMorgan Chase’s profit jumps 23 percent in 3Q

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JPMorgan Chase & Co. said Wednesday that its third-quarter profit jumped 23 percent because the banking giant was able to set aside less money to cover loan losses. CEO Jamie Dimon did warn that loan losses are still high in both the mortgage and credit card portfolios, but they are no longer rising like they… Continue Reading JPMorgan Chase’s profit jumps 23 percent in 3Q

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Accounting firm Auer, Woodley, Hilderbrand & Sanders was formed earlier this year when Jerry Hilderbrand and Marty Sanders merged their long-standing firms and added a few new partners. On Oct. 1, the firm merged again, this time with EFA Services, a financial management services company, now located at 455 E. Pikes Peak Ave., with Auer,… Continue Reading Accountants Auer, Woodley expand with latest merger

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BofA delays foreclosures in 23 states

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Bank of America is delaying foreclosures in 23 states as it examines whether it rushed the foreclosure process for thousands of homeowners without reading the documents. Bank of America isn’t able to estimate how many homeowners’ cases will be affected, Dan Frahm, a spokesman for the Charlotte, N.C.-based bank, said Friday. The move adds the… Continue Reading BofA delays foreclosures in 23 states

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Banks get years to adjust to new global rules

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Bankers and analysts said new global rules could mean less money available to lend to businesses and consumers, but praised a decision to give them plenty of time – until 2019 – before the so-called Basel III requirements come into full force. The rules, which will gradually require banks to hold greater capital buffers to… Continue Reading Banks get years to adjust to new global rules

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