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Broadway Federal Bank
Broadway Federal Bank is a community focused bank founded in 1946 and based in Los Angeles. As of 2020, it has three traditional branches and one loan production office. It is the last remaining traditionally black-community oriented bank headquartered west of Dallas. On August 26, 2020, its parent company, Broadway Financial Corporation, announced a merger with DC-based City First Bank to form the largest Black-led financial institution in the US, with over a billion dollars in assets. History In 1946, Broadway Federal Savings and Loan Association was founded by a group of civic minded people to provide bank services to minorities in the greater Los Angeles area, who were not being serviced by any of the existing financial institutions. The bank received its charter on November 26, 1946 with an initial investment of $150,000. It opened for business in a three-room office on 4329 South Broadway on January 11, 1947. Real estate broker and investor H. A. Howard served as t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Los Angeles, California
Los Angeles ( ; es, Los Ángeles, link=no , ), often referred to by its initials L.A., is the largest city in the state of California and the second most populous city in the United States after New York City, as well as one of the world's most populous megacities. Los Angeles is the commercial, financial, and cultural center of Southern California. With a population of roughly 3.9 million residents within the city limits , Los Angeles is known for its Mediterranean climate, ethnic and cultural diversity, being the home of the Hollywood film industry, and its sprawling metropolitan area. The city of Los Angeles lies in a basin in Southern California adjacent to the Pacific Ocean in the west and extending through the Santa Monica Mountains and north into the San Fernando Valley, with the city bordering the San Gabriel Valley to it's east. It covers about , and is the county seat of Los Angeles County, which is the most populous county in the United States with an estim ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banc Of California
Banc of California is a bank serving the state of California with over 30 branches in Southern California, extending from San Diego to Santa Barbara. The bank is headquartered in Santa Ana, California in Orange County, with over 600 employees and 36 offices. History The Banc of California was founded in 1941 as the Rohr Employees Federal Credit Union, serving employees of the Rohr Aircraft plant in Chula Vista, California. The credit union was renamed the Pacific Trust Federal Credit Union in 1995, which itself was renamed the Pacific Trust Bank in 2000, becoming a mutually owned federal savings bank. The Pacific Trust Bank was made into a subsidiary of First PacTrust Bancorp Inc. in 2002. First PacTrust Bancorp, Inc. and Beach Business Bank completed their merger in 2012. The company's two banking subsidiaries, Pacific Trust Bank and The Private Bank of California, were merged to form the Banc of California in 2013. The bank also hired former Los Angeles mayor Antonio Villara ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Based In California
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Brian E
Brian (sometimes spelled Bryan in English) is a male given name of Irish and Breton origin, as well as a surname of Occitan origin. It is common in the English-speaking world. It is possible that the name is derived from an Old Celtic word meaning "high" or "noble". For example, the element ''bre'' means "hill"; which could be transferred to mean "eminence" or "exalted one". The name is quite popular in Ireland, on account of Brian Boru, a 10th-century High King of Ireland. The name was also quite popular in East Anglia during the Middle Ages. This is because the name was introduced to England by Bretons following the Norman Conquest. Bretons also settled in Ireland along with the Normans in the 12th century, and 'their' name was mingled with the 'Irish' version. Also, in the north-west of England, the 'Irish' name was introduced by Scandinavian settlers from Ireland. Within the Gaelic speaking areas of Scotland, the name was at first only used by professional families of Iri ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Minority Depository Institution
Minority may refer to: Politics * Minority government, formed when a political party does not have a majority of overall seats in parliament * Minority leader, in American politics, the floor leader of the second largest caucus in a legislative body Society *Minor (law), legal category of people under the age of majority **Age of majority, the threshold of adulthood as recognized or declared in law **Legal age, age at which a person may legally engage in a certain activity * Minority group, a category of people differentiated from the social majority (e.g. ethnic minority) * Sexual minority, a group whose sexual identity, orientation or practices differ from the majority of society Music * "Minority" (Gigi Gryce song), a 1953 jazz standard * "Minority" (Green Day song), a 2000 punk rock song * "Minority", a song by the Subhumans from their 1983 album ''The Day the Country Died'' Other uses * Minority (philosophy), concept coined by philosopher Gilles Deleuze and Félix Guatt ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Merger Of Equals
Mergers and acquisitions (M&A) are business transactions in which the ownership of companies, other business organizations, or their operating units are transferred to or consolidated with another company or business organization. As an aspect of strategic management, M&A can allow enterprises to grow or downsize, and change the nature of their business or competitive position. Technically, a is a legal consolidation of two business entities into one, whereas an occurs when one entity takes ownership of another entity's share capital, equity interests or assets. A deal may be euphemistically called a ''merger of equals'' if both CEOs agree that joining together is in the best interest of both of their companies. From a legal and financial point of view, both mergers and acquisitions generally result in the consolidation of assets and liabilities under one entity, and the distinction between the two is not always clear. In most countries, mergers and acquisitions must co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Juneteenth
Juneteenth is a federal holiday in the United States commemorating the emancipation of enslaved African Americans. Deriving its name from combining "June" and "nineteenth", it is celebrated on the anniversary of General Order No. 3, issued by Major General Gordon Granger on June 19, 1865, proclaiming freedom for slaves in Texas. Originating in Galveston, Juneteenth has since been observed annually in various parts of the United States, often broadly celebrating African-American culture. The day was first recognized as a federal holiday in 2021, when President Joe Biden signed the Juneteenth National Independence Day Act into law after the efforts of Lula Briggs Galloway, Opal Lee, and others. Early celebrations date to 1866, at first involving church-centered community gatherings in Texas. They spread across the South and became more commercialized in the 1920s and 1930s, often centering on a food festival. Participants in the Great Migration brought these celeb ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hostile Takeover
In business, a takeover is the purchase of one company (the ''target'') by another (the ''acquirer'' or ''bidder''). In the UK, the term refers to the acquisition of a public company whose shares are listed on a stock exchange, in contrast to the acquisition of a private company. Management of the target company may or may not agree with a proposed takeover, and this has resulted in the following takeover classifications: friendly, hostile, reverse or back-flip. Financing a takeover often involves loans or bond issues which may include junk bonds as well as a simple cash offers. It can also include shares in the new company. Types Friendly A ''friendly takeover'' is an acquisition which is approved by the management of the target company. Before a bidder makes an offer for another company, it usually first informs the company's board of directors. In an ideal world, if the board feels that accepting the offer serves the shareholders better than rejecting it, it recom ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Troubled Asset Relief Program
The Troubled Asset Relief Program (TARP) is a program of the United States government to purchase toxic assets and equity from financial institutions to strengthen its financial sector that was passed by Congress and signed into law by President George Bush. It was a component of the government's measures in 2009 to address the subprime mortgage crisis. The TARP originally authorized expenditures of $700 billion. The Emergency Economic Stabilization Act of 2008 created the TARP. The Dodd–Frank Wall Street Reform and Consumer Protection Act, signed into law in 2010, reduced the amount authorized to $475 billion. By October 11, 2012, the Congressional Budget Office (CBO) stated that total disbursements would be $431 billion, and estimated the total cost, including grants for mortgage programs that have not yet been made, would be $24 billion. On December 19, 2014, the U.S. Treasury sold its remaining holdings of Ally Financial, essentially ending the program. Purpose TARP allowed ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banking
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
NASDAQ
The Nasdaq Stock Market () (National Association of Securities Dealers Automated Quotations Stock Market) is an American stock exchange based in New York City. It is the most active stock trading venue in the US by volume, and ranked second on the list of stock exchanges by market capitalization of shares traded, behind the New York Stock Exchange. The exchange platform is owned by Nasdaq, Inc., which also owns the Nasdaq Nordic stock market network and several U.S.-based stock and options exchanges. History 1971–2000 "Nasdaq" was initially an acronym for the National Association of Securities Dealers Automated Quotations. It was founded in 1971 by the National Association of Securities Dealers (NASD), now known as the Financial Industry Regulatory Authority (FINRA). On February 8, 1971, the Nasdaq stock market began operations as the world's first electronic stock market. At first, it was merely a "quotation system" and did not provide a way to perform electronic trade ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Holding Company
A holding company is a company whose primary business is holding a controlling interest in the securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own shares of other companies to form a corporate group. In some jurisdictions around the world, holding companies are called parent companies, which, besides holding stock in other companies, can conduct trade and other business activities themselves. Holding companies reduce risk for the shareholders, and can permit the ownership and control of a number of different companies. ''The New York Times'' also refers to the term as ''parent holding company.'' Holding companies are also created to hold assets such as intellectual property or trade secrets, that are protected from the operating company. That creates a smaller risk when it comes to Lawsuit, litigation. In the United States, 80% of stock, in voting and value, must be owned before tax consolidation benefits s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
