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Banking & Finance
Most Americans Make Major Purchase on Impulse
Thursday, December 11, 2014
AUSTIN, Texas -- Three in four Americans admit to having made a major purchase on impulse, CreditCards.com finds. And nearly half of those said they regretted doing so.
An impulse purchase was defined as any unplanned or unnecessary decision to buy a product just before buying it, says CreditCards.com, which sponsored the survey. A major purchase was defined as spending $100 or more. Nearly 90% of millennials said they had made an impulse purchase compared to just 56% of seniors.
Hierro to Lead Ambitious Commercial Lending Efforts
Thursday, December 11, 2014
YOUNGSTOWN, Ohio -- It turns out that Frank Hierro wasn’t ready to retire.
Hierro, who just joined the Home Savings and Loan Co. as president of its Mahoning Valley Region, retired Nov. 14 as president of the Mahoning Valley region of Huntington Bank. He and Gary M. Small, president and CEO of Home Savings and its holding company, United Community Financial Corp., met Wednesday with The Business Journal.
Cash Sales of Housing Down Slightly in September
Thursday, December 11, 2014
IRVINE, Calif. -- Cash sales made up 34.8% of all housing bought in September, down from 37.2% in September 2013, CoreLogic reports.
The year-over-year share has fallen each month since January 2013, making September the 21st consecutive month of declines.
Bankers Tell How They Manage Interest-Rate Risk
Wednesday, December 10, 2014
YOUNGSTOWN, Ohio -- It’s a highly unlikely scenario: A financial institution can have all of its borrowers repay their loans in full and on schedule and still lose money.
Why? Because its management, while nailing credit risk, grossly miscalculated the institution’s interest-rate risk.
IPOs Raise Greatest Proceeds Since 2000
Wednesday, December 10, 2014
NEW YORK -- Throughout 2014, the U.S. initial public offering market put in its strongest performance since 2000 as a broad range of companies took advantage of strong equity markets and an accommodative financing environment to raise capital, IPO Watch reports.
IPO Watch is a quarterly survey conducted by PwC US, a division of PricewaterhouseCoopers.
Total IPO volume for 2014, as of Dec. 4, reached 288 public company debuts, surpassing the volume of 238 IPOs in 2013 and representing the most active environment for newly listed companies since 2007, IPO Watch said.