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Leader Financial Corp

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BUSINESS
March 9, 1996 | From Bloomberg Business News
Union Planters Corp. agreed Friday to acquire Leader Financial Corp. for $523 million in stock, a deal that would combine two Memphis-based financial institutions into the state's largest bank. The acquisition would extend a wave of consolidation in the banking industry and could be a prelude to further buyouts of Southeast banks, analysts said. "The region is ripe for more of this type of in-market merger," said John Coffey, an analyst with Robinson-Humphrey.
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BUSINESS
March 9, 1996 | From Bloomberg Business News
Union Planters Corp. agreed Friday to acquire Leader Financial Corp. for $523 million in stock, a deal that would combine two Memphis-based financial institutions into the state's largest bank. The acquisition would extend a wave of consolidation in the banking industry and could be a prelude to further buyouts of Southeast banks, analysts said. "The region is ripe for more of this type of in-market merger," said John Coffey, an analyst with Robinson-Humphrey.
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BUSINESS
September 26, 2007 | From Times Wire Services
Merrill Lynch & Co.'s sub-prime mortgage unit, First Franklin Financial, could cut about $100 million from the brokerage's third-quarter profit through a write-down of the lender's value on the parent company's books, an analyst said Tuesday. Merrill Lynch declined to comment on the report by Sandler O'Neill analyst Jeff Harte. First Franklin became the No. 3 U.S. sub-prime mortgage lender after Merrill Lynch bought the San Jose company in December for $1.3 billion.
BUSINESS
March 4, 2008 | From Times Wire Services
Shares of Pasadena-based IndyMac Bancorp tumbled 20% on Monday after the mortgage bank reported higher delinquencies in January and a sharp drop in loan production compared to a year earlier. In other bad mortgage news, Calabasas-based leader Countrywide Financial Corp. reported a surge in delinquencies on risky loans known as pay-option adjustable rate mortgages, or option ARMs. And the stocks of two companies that buy home loans or mortgage-backed securities -- Thornburg Mortgage Inc. and Deerfield Capital Inc. -- lost half their value on developments disclosed by the firms.
BUSINESS
January 9, 2008 | Walter Hamilton and Tom Petruno, Times Staff Writers
The stock market's gloomy start to the new year worsened Tuesday as share prices plunged on more worries about the financial system and the economy. With most major stock indexes now down more than 10% from their 2007 highs -- the sharpest such "correction" in at least five years -- some veteran analysts are raising the specter of a full-on bear market.
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