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Article: Coastal to Cut Risky Assets.(Community Banking)(Brief article)
- Article from:
- American Banker
- Article date:
- September 1, 2009
- Author:
CopyrightCOPYRIGHT 2009 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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Byline: Robert Barba
Coastal Banking Co. of Beaufort, S.C., has entered into a formal agreement with regulators to reduce its risky assets.
The $488 million-asset company, which has been weighed down by bad construction loans lately, said the agreement requires its CBC National Bank to strengthen loan underwriting and administration, with particular emphasis on its exposure to commercial real estate.
The bank had nonaccrual loans of $25.9 million at the end of the second quarter, up 6.5% from the first quarter, according to data from the Federal Deposit Insurance Corp. The nonaccruals made up 5.31% of its total loans.
Construction ...
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... ... CBCO), the holding company of CBC National Bank, which operates divisions including ... division have been added to CBC National Bank's portfolio through June 30 ... Wagner, senior vice president of CBC National Bank's wholesale division. "In ...
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