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 …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 …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 …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 …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 …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 …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 …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 …The Colorado Securities Commission filed a complaint and issued a temporary restraining order against a Boulder company, alleging that they are violating the anti-fraud and licensing provisions of the Colorado Securities Act. Mark Hamilton Yost and his company, Yost Co., are accused of defrauding investors in at least one private fund. The company is accused [...]
Continue reading …For more than 100 years, it was a solid, healthy community bank. Then the Great Recession hit. Rocky Mountain Bank & Trust, based in Florence, Colo., has been plagued by bad loans and low capital ratios since 2008. The situation became so serious, the bank was forced to sign an agreement with the Federal Deposit [...]
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