San Diego, February 9: California Bank & Trust (CB&T) officials announced today that the bank has decided to acquire the banking operations, including all of the deposits, of Alliance Bank in a transaction facilitated by the Federal Deposit Insurance Corporation (FDIC).
Pasadena, California, January 3: The Pasadena, Calif.-based IndyMac Bank seems to have come full circle. The belligerent mortgage lender collapsed in July last year thereby necessitating the need for the government to take charge of it. Barely six months down the line, the Federal Deposit Insurance Corp, has agreed to sell IndyMac back to a group of private investors.
Tokyo, Japan, December 29: The unrelenting recession has been ailing many unshakeable business giants across all the sectors worldwide, forcing them to either bailout or merge into other companies to bear the blow little softly.
The latest giant to follow suit is Mitsui Sumitomo Insurance Group Holdings Inc., Japan’s second largest non-life insurers, which is in talks with the Aioi Insurance Co. and Nissay Dowa General Insurance Co. for a merger.
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