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BUSINESS
February 20, 1985
United American Bank of Westminster said last week that it also has benefited from the improving business borrowing climate. The 18-month-old bank, which caters largely to the Indochinese community in Westminster, posted a loss of $130,280 for 1984, but had its first-ever quarterly profit in the last three months of the year. United American's 1984 loss more than halved the $278,651 loss reported in 1983, when the bank operated for only six months.
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BUSINESS
January 29, 1989
As is your practice each quarter, you reported in your Jan. 14 issue on the status of Orange County independent banks as of the end of the third quarter ("Independent Banks' Profits for 9 Months Top All '87 Income"). The 39 banks were ranked in descending order according to the size of their total assets. That also is your customary way of ranking banks. However, that is not the way that investors would rank banks. For once, we at United American Bank would like to see you rank the banks according to their return on equity.
BUSINESS
January 29, 1989
As is your practice each quarter, you reported in your Jan. 14 issue on the status of Orange County independent banks as of the end of the third quarter ("Independent Banks' Profits for 9 Months Top All '87 Income"). The 39 banks were ranked in descending order according to the size of their total assets. That also is your customary way of ranking banks. However, that is not the way that investors would rank banks. For once, we at United American Bank would like to see you rank the banks according to their return on equity.
BUSINESS
May 1, 1985
Butcher, whose $3-billion business empire collapsed in one of the biggest bank failures in U.S. history, pleaded guilty to bank fraud in U.S. District Court in Memphis, Tenn., for the second time in eight days. Butcher, 48, admitted using forged signatures to defraud United American Bank of Memphis out of $1.5 million. He pleaded guilty to three counts of bank fraud and one count of mail fraud as part of a deal that guaranteed him no more than 20 years in a federal prison.
BUSINESS
April 10, 1985
The federal insurance agency said it now expects to lose $395 million from the 1983 collapse of Jake Butcher's United American Bank of Knoxville, Tenn. The figure was more than seven times what FDIC officials first estimated. "We found more fraud than we expected and the assets were worse than we expected," an FDIC spokesman said.
BUSINESS
July 1, 1985
Butcher contends in the suit he filed in response to Federal Deposit Insurance Corp. suits against him that federal regulators contributed to the downfall of his sons' banks. The 83-year-old patriarch of the Butcher family is named as a defendant in FDIC suits against the directors of C&C Bank of Anderson County and United American Bank of Knoxville, both in Tennessee. Butcher's son Jake, was sentenced to 20 years in prison Friday for bank fraud.
NEWS
February 2, 1986
An attorney who represented convicted Tennessee banker Jake Butcher fatally shot himself in the head with a shotgun only hours before he was to report to a prison to begin serving a 20-year sentence for tax fraud, police said. George W. Ridenour Jr., who was found dead in his car on Interstate 75 north of Knoxville, had been Butcher's personal attorney and general counsel of Butcher's United American Bank of Knoxville, which failed in 1983.
BUSINESS
March 7, 1985
Two of Butcher's business associates were also indicted on tax fraud charges, the Justice Department reported. The department said a 17-count indictment was returned in U.S. District Court in Knoxville, Tenn., against Butcher, of Longwood, Fla.; Jesse A. Barr, of Knoxville, and George W. Ridenour Jr., of Knoxville and Miami.
BUSINESS
May 1, 1985
Butcher, whose $3-billion business empire collapsed in one of the biggest bank failures in U.S. history, pleaded guilty to bank fraud in U.S. District Court in Memphis, Tenn., for the second time in eight days. Butcher, 48, admitted using forged signatures to defraud United American Bank of Memphis out of $1.5 million. He pleaded guilty to three counts of bank fraud and one count of mail fraud as part of a deal that guaranteed him no more than 20 years in a federal prison.
BUSINESS
February 20, 1985
United American Bank of Westminster said last week that it also has benefited from the improving business borrowing climate. The 18-month-old bank, which caters largely to the Indochinese community in Westminster, posted a loss of $130,280 for 1984, but had its first-ever quarterly profit in the last three months of the year. United American's 1984 loss more than halved the $278,651 loss reported in 1983, when the bank operated for only six months.
BUSINESS
April 12, 1989
Damages Set in Butcher Case: U.S. District Judge R. Allan Edgar ordered C. H. Butcher Jr. and others to pay $19.3 million in damages for a plot to hide the bankrupt financier's wealth when his banking empire collapsed. A federal jury last month found that C. H. Butcher Sr. and two disbarred Atlanta lawyers conspired with the younger Butcher to help keep some of his wealth. The jury found the senior Butcher, Robert L. Schwind and David L. Hill guilty under the Racketeering Influenced Corrupt Organizations Act. C. H. Butcher Jr. and his brother, 1978 Tennessee Democratic gubernatorial candidate Jake Butcher, were convicted in connection with the 1983 failure of their twin banking empires, Southern Industrial Banking Corp.
BUSINESS
February 10, 1989 | From Times wire services
The Federal Deposit Insurance Corp. has charged former White House Budget Director Bert Lance and a Calhoun company with defaulting on loan payments to a now-defunct Tennessee bank. The U.S. District Court suit seeks $1.5 million from Lance and Kris Co. Inc. It alleges that Lance and the company defaulted on payments to the United American Bank of Knoxville for four loans and renewal agreements dating to late 1981. The suit, filed in Rome, was made public Thursday after U.S.
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