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Jefferson Bancshares moves to acquire State of Franklin - TradingMarkets.com
The cash and stock transaction is valued at $10.9 million, according to a press release issued after the stock markets closed Thursday. The merger is expected to be completed in the third quarter or early fourth quarter. Following the merger ...

Assured Guaranty Corp. Guarantees $339 Million in Bonds for Louisville ... - Forbes
Assured Guaranty Corp. ("Assured" or the "Company"), the triple-A rated financial guaranty subsidiary of Assured Guaranty Ltd. (NYSE:AGO), announced today that it guaranteed $319 million of fixed rate tax-exempt and $20 million of fixed rate taxable ...

JPMorgan, Facing Federal Probe, Exits Municipal Swaps (Update2) - Bloomberg
Sept. 4 (Bloomberg) -- JPMorgan Chase & Co. will stop selling interest-rate swaps to government borrowers in the $2.6 trillion U.S. municipal bond market roiled by an antitrust probe and the near-bankruptcy of Alabama's most-populous county. At least ...

JPMorgan, Facing Federal Probe, Exits Muni Interest-Rate Swaps - Bloomberg
Sept. 4 (Bloomberg) -- JPMorgan Chase & Co. will stop selling interest-rate swaps to government borrowers in the $2.6 trillion U.S. municipal bond market, which has been roiled by an antitrust probe and the near bankruptcy of Alabama's most- populous ...

State of Franklin Savings Bank to sell to Morristown bank - Johnson City Press
State of Franklin Savings Bank’s decade-long run as the only Johnson City-headquartered bank has ended with its sale to Morristown-based Jefferson Federal Bank, pending approval by SOFB shareholders, and co-founder Charles E. Allen, Jr., is ...

Pearlstein: A Con Game in Pinstripes - Washington Post
We're entering that exciting phase of any financial crisis when the lawsuits come fast and furious, criminal charges are lodged, and Wall Street firms agree to pay hundreds of millions of dollars for having snookered their customers once again. In ...

Chase Reopens 101 Branches in Louisiana - Forbes
In the aftermath of Hurricane Gustav, Chase has opened 101 branches and 228 ATMs in Louisiana, including many locations in the hardest hit areas of the state. Chase has opened 21 branches in Acadiana, 9 in Baton Rouge and 14 in New Orleans, as well ...

ET banks sign merger pact - Knoxville News Sentinel
Jefferson Bancshares Inc. in Morristown has agreed to acquire State of Franklin Bancshares Inc., a Johnson City-based community bank hurt by the financial troubles of mortgage giants Fannie Mae and Freddie Mac. The cash and stock transaction is ...

Shrum/McCain '08! - Slate
I'm staying out of the great Politico vs. Fred Thompson debate . Many campaign events seem forced and awkward to me. Thompson's fire-station drop-by looked maybe more awkward than most. So? Is gladhanding ability all that crucial a presidential ...

Public Statement From John Hope Bryant of Operation HOPE About the ... - Market Wire
LOS ANGELES, CA--(Marketwire - September 4, 2008) - John Hope Bryant, founder, chairman and CEO of Operation HOPE, makes the following statement about the 2008 Democratic and Republican National Conventions: I was extremely pleased and honored to ...

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Today's Mortgage Terms starting with P

  • Payment Cap: A limit on the size of the monthly payment of an adjustable-rate mortgage or other variable rate loan.
  • Point: A point is equivalent to 1 percent of a mortgage loan. Lenders might charge "origination points" to cover expenses of processing a loan. Some borrowers might pay "discount points" to reduce the loan's interest rate.
  • Pre-Approval: The process of calculating how much money a potential homebuyer could borrow.
  • Prepayment Penalty: A lender's charge to the borrower for paying down the loan before the end of its term.
  • Pre-Qualification: A non-binding process of calculating how much money a potential homebuyer can borrow before applying for a loan. Information submitted during pre-qualification is subject to verification at application.
  • Principal: It is the amount of money borrowed or owed, excluding interest.
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