TierOne's Branch-Sale Deal May Not Solve Its Problems

Barba, Robert
February 2010
American Banker;2/12/2010, Vol. 175 Issue F306, p4
Trade Publication
The article reports on TierOne Corp., which struck a deal to sell nearly half its bank branches, but was still attempting to raise capital as of February 2010. The firm reported that its thrift unit was significantly undercapitalized, and it would not file any financial results until completing a regulator-requested restatement. Michael J. Falbo, the company's chairman and chief executive officer, is quoted commenting on the situation.


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