(Courtesy of Jacksonville Business Journal) It seems like every day we read of bankers deriding cryptocurrencies. They see blockchain as a possible help but admit they need to know more. (Don’t we all?) No smart banker today denies that major changes are underway in banking and the financial sector. Banks will have to change. Enlarge The … Continue reading Are banks really in trouble from blockchain and cryptocurrencies?
(Courtesy of Reuters) (Reuters) - Capital One Financial (COF.N) will stop issuing mortgage and home equity loans and cut some 1,100 jobs amid rising interest rates that have pushed away borrowers and slowed loan growth at many U.S. regional banks. The McLean, Virginia-based lender said on Wednesday it would continue to service its existing home … Continue reading Capital One exits mortgage loans business, cuts 1,100 jobs
(Courtesy of Jacksonville Business News) FirstAtlantic agreed to an acquisition in August. The Jacksonville area has seen a mass exit of locally owned and operated banks over the last 15 years through closures and acquisitions. A dozen local banks in Northeast Florida have closed or been acquired since 2002, Federal Deposit Insurance Corporation records … Continue reading The end of local banks in Jacksonville – Why this might matter to customers
(Courtesy of Jacksonville Business Journal) Fortegra completed a $125 million offering of junior subordinated notes Oct. 16. Jacksonville-based Fortegra Financial Corporation, a specialty insurance provider, raised $125 million in junior subordinated notes, which will be due in 2057. The vast majority of the proceeds will repay Fortegra's existing credit facility. Fortegra, a subsidiary of Tiptree … Continue reading Jacksonville-based company raises $125 million
(Courtesy of Jacksonville Business News) Jacksonville is among the best cities in the country to live if you are a financial professional, according to apartment-finder Abodo. Jacksonville landed 17th in the nation among places to live for financial professionals in an Abodo ranking that considered job concentration, salary, rent and more. Jacksonville was … Continue reading Jax among the best places to live for finance professionals