Ohio bank cuts dividend, posts a loss
Rating outlook for bank is negative, Fitch says
Firm takes further writedowns on mortgage-related assets
Investment banking division hit hardest
Consumer finance sector remains weak, says NBF
Brokerage houses posted $7.4 billion loss in 2007
Chairman Ospel to step down
The global credit crunch and the resulting poor performance of equities played havoc with financial services firms’ bottom lines in the final quarter of 2007. Only 40% of 48 publicly traded companies surveyed reported improved earnings in the quarter than in the same period a year earlier.The big winner in Investment Executive’s quarterly profit survey […]
Fourth quarter profit revised lower
Western Financial Group today reported record revenues and net income for the year ended Dec. 31, 2007. The High River, Alta.-based firm said net income increased 52.9% to $12.2 million from $8 million a year ago.Basic earnings per share were 24¢ up from 22¢ in 2006.Revenue for the year increased by 38.1% to $114.1 million […]