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Like many Americans, we here at footnoted like to know what’s happening with our tax dollars. As a result, we tend to look a little closer at financial companies that got checks from Uncle Sam in the aftermath of the recent financial crisis. One of those companies was F.N.B. Corp. (FNB), a Hermitage, Penn., banking [...]
Late Friday, Bank of America (BAC) filed its 10K and while there were lots of interesting things in the filing, the thing that jumped out at me was this agreement with former MBNA CEO Bruce Hammonds. Hammonds, whose retirement from Bank of America was announced in December, received $6.8 million from BofA in January, according [...]
It’s almost become akin to shooting fish in a barrel: find a TARP recipient — there’s over 400 of them now according to the latest report from Treasury — and then troll through their recent SEC filings to see how at least some of that money was spent on enriching an executive (or two). It’s [...]
Tempting as it is to focus on the giant banks, like Citi (C) and Bank of America (BAC), I couldn’t help but notice this 8K filed by The South Financial Group (TSFG) late Friday. Over the past year, the South Carolina bank’s stock has declined by 95% and the stock is currently trading at under [...]
On Friday, American Express (AXP) signed this agreement with Treasury to collect on the $3.39 billion in TARP funds it announced it had been approved for back on Dec. 23. Like the 165 other companies that have already signed similar agreements with Interim Assistant Secretary for Financial Stability Neel Kashkari since Oct. 30, the contract, [...]
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