TITLE

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

AUTHOR(S)
Barba, Robert
PUB. DATE
February 2010
SOURCE
American Banker;2/12/2010, Vol. 175 Issue F306, p4
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
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.
ACCESSION #
48027081

 

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