Business Services Industry
Bank merger frenzy; 2 deals signal acceleration in NY consolidation; Fleet leads buyers, thrifts top the list of sellers.(Citibank N.A.)(Brief Article)
Crain's New York Business, February, 2001 by Wipperfurth, Heike
New York's banks are catching merger fever-again. Seven years into a steady consolidation of the city's retail and commercial banking industry, the pace of acquisitions has unexpectedly accelerated. Confirmation of that trend came in two big deals last week. Citibank, reversing its strategy of closing bank branches, paid $2 billion for European American Bank's 98 branches and $15.4 billion in assets.
Rapidly expanding North Fork Bancorp, which had coveted EAB, settled instead for Commercial Bank of New York, gaining 14 branches, including 11 in Manhattan. "It's a percolating pot," says Joseph Ficalora, president of New York Community Bank. "There is much activity within the industry under the surface." The wave of deals expected over the next two years...
Most Recent Business Articles
- Multiple criteria evaluation and optimization of transportation systems
- Multi-criteria analysis procedure for sustainable mobility evaluation in urban areas
- A two-leveled multi-objective symbiotic evolutionary algorithm for the hub and spoke location problem
- Multi-criteria analysis for evaluating the impacts of intelligent speed adaptation
- The development of Taiwan arterial traffic-adaptive signal control system and its field test: a Taiwan experience
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- LIFO vs. FIFO: a return to the basics
- Design a commission plan that drives sales - Sales Commissions
- Too Young to Rent a Car? - 25-years-old the minimum age for car renting - Brief Article
