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Springs getting first new bank in four years

Springs getting first new bank in four years

  Colorado Springs is about to get a new bank, led by a few familiar faces. Tim Stack, formerly of Wells Fargo in Colorado Springs, and Steve Ingham, most recently with Kirkpatrick Bank, are leading the effort to break Denver-based Colorado Business Bank into the Springs market. Stack is the bank’s local president, and Ingham… Continue Reading Springs getting first new bank in four years

  U.S. bank earnings rose in the first three months of the year to the highest level in nearly five years. The number of troubled banks fell for the fourth straight quarter.   The Federal Deposit Insurance Corp. said Thursday the banking industry earned $35.3 billion in the January-March period. That’s up from $28.7 billion… Continue Reading U.S. bank earnings rose this winter to 5-year high

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Bumpy earnings season ahead for banks

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You can usually tell a lot about the health of the U.S. economy by looking at the financial results of banks. They’re the people who finance new factories, plant expansions and fatter payrolls. But don’t count on that over the next two weeks, when banks report their results from the last three months of the… Continue Reading Bumpy earnings season ahead for banks

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Stimulating the local economy

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The auto industry, Wall Street and the major banks, among others, have received stimulus money in amounts that are hard to comprehend and have never been seen before.  Local middle market companies might be feeling left out and forgotten. You might be wondering if there is help for your business or are the stimulus dollars… Continue Reading Stimulating the local economy

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Think your job is stressful? Try being a financial adviser during the middle of a recession. Or try juggling while pedaling a unicycle – it might be easier. Financial advisers have all the worries about the economy and the stock market that everyone else has – plus, they have to reassure their clients that the… Continue Reading Financial advisers feeling heat from all sides

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No silver bullets or one-size-fits-all

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In the past, long-term financial strategy used to encompass keeping a broad-based portfolio to garner moderate risk and moderate returns, said Kevin P. Sullivan, financial adviser with Sullivan & Associates. But much has changed in the economy, and Sullivan & Associates now uses a modified core satellite strategy. “There are risks out there that cannot… Continue Reading No silver bullets or one-size-fits-all

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Running rapidly in reverse

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Seniors are queuing up at banks and credit unions around the country to apply for reverse mortgages on their homes. There has been a “significant uptick” in applications, said Eric Bachman, founder and CEO of Golden Gateway Financial. “Our volumes are double.” The surge began several months ago. The FHA Modernization Act — which raised… Continue Reading Running rapidly in reverse

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Refinances boost loan origination projections

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Projections for U.S. home financing this year have increased $400 billion. An increase in conventional refinances is responsible for the bright outlook, according to www.MortgageDaily.com. First-quarter residential originations are expected to reach $430 billion, Freddie Mac said in its March Economic and Housing Market Outlook. Estimated U.S. production is 46 percent higher than estimated fourth-quarter… Continue Reading Refinances boost loan origination projections

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