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Article: CEO: Run on Abacus Almost a Blessing.
- Article from:
- American Banker
- Article date:
- May 1, 2003
- Author:
CopyrightCOPYRIGHT 2003 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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For a man whose thrift lost 13% of its deposits in a four-day run, Thomas Sung sounds surprisingly upbeat.
After all, his Abacus Federal Savings Bank is still standing, he points out.
Last week it looked like another picture was developing. Panicked depositors of the $282 million-asset New York thrift, which caters to Chinese-Americans, withdrew approximately $30 million from three branches. There were rumors that Abacus was on the brink of failing, despite reassurances from executives and regulators that it was safe and sound.
Several newspapers ran photos of long lines and police guards -- publicity, combined with the loss of liquidity, that ...
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Article: DoubleClick Launches Abacus New Zealand.
PR Newswire;
May 9, 2005 ;
700+ words
... ... Join the New Alliance - NEW YORK, May 9 /PRNewswire ... announced the launch of Abacus New Zealand and the recruitment ... seven countries in the Abacus Alliance. For further information on the Abacus Alliance, visit the ... global headquarters in New York City and maintains 22 ...
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