Entries tagged "City National"
So far 25 banks have won the support of the Treasury Department, which has deployed almost $160 billion in direct capital injections, usually in the form of preferred share purchases. It's widely speculated that these banks are not going to simply use the money to open the spigots of lending, but instead to do acquisitions. J.P. Morgan Chase & Co.'s CEO Jamie Dimon recently made it clear during an earnings call that he might use some of Treasury's $25 billion for acquisitions. Even smaller banks receiving funding such as City National Bank of Beverly Hills, Calif., may seek acquisitions...
