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BUSINESS
October 4, 1993 | Times Staff and Wire Reports
Regional Banks Said to Be Merging: Keycorp of Albany and Society Corp. of Cleveland, two fast-growing regional banks, are expected to announce a merger that would create the nation's 10th-largest banking company, according to published reports. Together, the companies would have more than $58 billion in assets and about 100 branches stretching from Maine to Alaska. Keycorp and Society are the nation's 25th- and 29th-largest banks, respectively.
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BUSINESS
October 5, 1993 | From Times Staff and Wire Reports
Keycorp and Society Corp. Announce Merger: The merger of the two bank holding companies will form the nation's 10th-largest banking company. If the merger is approved by shareholders and regulatory authorities, Albany, N.Y.-based Keycorp and Cleveland-based Society will aim to complete the deal by early 1994. The merger would give the new company combined assets of more than $58 billion and nearly 1,400 offices in 18 states.
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BUSINESS
September 14, 1991 | From Associated Press
After fielding competing bids for six months, Ameritrust Corp. agreed Friday to a $1.2-billion merger with rival Cleveland bank Society Corp. The merger will create the nation's 24th-largest commercial bank, with $26 billion in assets and 500 offices in Ohio, Indiana, Michigan, Connecticut and Texas. The hookup is the latest in a series of mergers that have united some of the country's most powerful banks. Ameritrust, the nation's 56th-largest bank with $10.
BUSINESS
January 25, 1996 | MICHAEL A. HILTZIK and THOMAS S. MULLIGAN, TIMES STAFF WRITERS
The news was grim Friday when the directors of First Interstate Bancorp met in Los Angeles for an update on the bank's proposed merger with First Bank System Inc. of Minneapolis. Most important, the value of a competing, hostile bid for First Interstate by Wells Fargo & Co. was soaring. Keyed to Wells' stock price, the bid was more than $18 a share higher than First Bank's.
BUSINESS
October 26, 1999 | From Times Staff and Wire Reports
Aames Financial Corp. said its board appointed financial services veteran A. Jay Meyerson as chief executive of the subprime home-equity lender. "The appointment of Jay is the last phase of a management transition plan that ensured a seamless and orderly succession," said Mani Sadeghi, an Aames director who has been acting as interim chief executive since May. Meyerson, 52, most recently served as a managing director at KPMG national financial services' consulting practice.
BUSINESS
March 19, 1992 | From Reuters
In a deal that would cement its status as a Midwestern powerhouse, NBD Bancorp Inc. on Wednesday said it plans to acquire INB Financial Corp. in a deal valued at almost $900 million. Detroit-based NBD, the nation's 24th-largest banking company, would rise to about the No. 16 position if its pending takeover deals go through. NBD, with assets of $31 billion, also has a merger pending with Summcorp, a $2.5-billion bank group based in Ft. Wayne, Ind. Indianapolis-based INB has assets of $6.
NEWS
June 7, 1986
Companies that have closed or sold South African operations since January, 1984: AMR, Dallas/Fort Worth Airport, Tex.; Alexander & Alexander Services, Baltimore; American Express, New York; Applied Power, Milwaukee; Atlantic Richfield, Los Angeles; BBDO International, New York; Bell & Howell, Skokie, Ill.; Blue Bell, Greensboro, N.C.; Boeing, Seattle.
CALIFORNIA | LOCAL
January 23, 1988 | JOHN SPANO, Times Staff Writer
The Neptune Society has offered to pay $2,675,000 in damages to Southern California residents who claim a Costa Mesa crematory illegally burned and in some cases lost the remains of loved ones. About $14 million has already been pledged by the operators of the crematory, Harbor Lawn Memorial Park. Those who would benefit from the fund include 450 people who have already filed lawsuits and an estimated 10,000 other direct and indirect customers of the crematory between 1978 and 1985.
BUSINESS
February 7, 1994 | CHRIS KRAUL, TIMES STAFF WRITER
This is likely to be another wild year for the nation's banking industry, with the drive to consolidate so powerful that few financial institutions, no matter how large, are safe from merger or takeover, industry experts say. The questions asked among industry leaders now: Who is on the prowl for what,and how fast is the current merger pace going to accelerate?
BUSINESS
October 15, 1993 | From Associated Press
J.P. Morgan & Co. and several major regional banks reported healthy third-quarter results Thursday, reflecting higher profits and a decline in troubled loans that has characterized the banking industry all year. Banks continue to benefit from falling interest rates, which widen the gap between their cost of funds and income from higher yielding loans and securities already on the books.
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