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Synovus Financial Corp. said Monday it has wrapped up its $30 million purchase of Atlanta-based. in non-mortality loans to commercial entities. The collateralize loans are primarily used by small businesses. Synovus, parent.
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A possible failure of one or other of America’s home-loan megabanks. the Federal Reserve Board’s Atlanta branch says. The Congress should deter such disruption by giving a regulator power to close the government-chartered companies.
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An Oklahoma City loan broker found guilty of mail fraud and money laundering. The investment company marketed a "European Loan Program" in which certain lending institutions in Atlanta offered "self-liquidating loans" to individuals.
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Bad loans will reduce net income this year to about $360 million from $447 million last year, the company said. NCNB’s local unit, NCNB National Bank of Maryland, has eight branches in Baltimore with nearly $350 million in assets.
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Georgia’s Synovus Financial (SNV) shed some $339 million worth of similarly troubled real-estate development loans and mortgages. In September, the company revealed it had reached an agreement with the Federal Reserve Bank of.
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The company also acquired a $10 million loan from Green Bank backed by a loan guarantee from the USDA. The funding will be used to further expand capacity at the refinery, which is located at the Tahoe Reno Industrial Center.
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The Atlanta Journal-Constitution Companies controlled by Elvin “E.R.” Mitchell Jr. paid $1.6 million to the Rev. Mitzi Bickers, a former City Hall employee.
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