Inside these posts: Lenders

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Wilmington Trust said to seek buyers

From Bloomberg News | Delaware bank Wilmington Trust Corp. has been contacting bigger lenders in recent weeks to gauge their interest in buying the company, said people with knowledge of the matter.

Small business loans less risky than junk bonds?

In the world of high-yield securities, small business loans are safer than junk bonds, and are expected to get even less risky over the next two years, according to PayNet, which provides risk-management tools to the commercial lending industry. Get the full story »

Nobel winner Mortensen chides ‘dysfunctional’ lenders

A U.S. labor economist awarded the Nobel Prize in economics on Monday said a “dysfunctional” lending environment has made it hard for small service businesses — the source of most jobs — to finance hiring.

Northwestern University professor Dale Mortensen, whose work focused on labor market inefficiencies that make it difficult for workers to match up to job openings, said employers have fewer jobs to offer and government can do only so much about it.

“To bring unemployment down we need to create service jobs,” Mortensen said, speaking to reporters from Aarhus University in Denmark, where he is a visiting faculty member. Get the full story »

$7 billion-asset Warrenville credit union seized

A $7 billion-asset Warrenville credit union that suffered massive losses in mortgage-backed securities was one of three critically undercapitalized institutions seized Friday by the U.S. government.

Members United Corporate Federal Credit Union was one of three “wholesale,” or “corporate,” credit unions put into conservatorship by the National Credit Union Administration. Get the full story »

Canadian banks may buy U.S. regional ones

From Bloomberg News | Analysts at Credit Suisse say that Canadian lenders may take over some U.S. regional banks, including TCF Financial Corp., Regions Financial Corp. and Synovus Financial.

Farrow reported to head reconstituted ShoreBank

The group seeking to buy ShoreBank, the ailing South Side lender expected to be seized by federal regulators Friday, plans to name former First Chicago executive Bill Farrow as the chief executive and president of the institution if it succeeds at bidding for certain assets and deposits of the failing bank.

It means that three former First Chicago executives will be running the show if their bid succeeds. Get the full story »