Business - Banking latest news

The Bank of East Asia China has opened its new branch in Tianjin, bringing its total branches on the mainland to 16.

CompuCredit Corporation, a specialty finance company and marketer of branded credit cards, has reported earnings of $2.5 million for the first quarter of 2008, compared with a net loss of $2.5 million for the comparable quarter of 2007.

Oversea-Chinese Banking Corporation has reported a net profit attributable to shareholders of S$622 million for the first quarter ended March 31, 2008, a decline of 4% from S$647 million in the same quarter of 2007.

State Bank, the holding company for Mohave State Bank, has reported a net income of $1.06 million in the first quarter of 2008, a decline of $252,000, or 19.2%, from $1.32 million reported in the first quarter of 2007.

Marshall & Ilsley, a provider of diversified financial services, has filed a registration statement on Form S-4 covering an aggregate of up to six million shares which could be used for possible future acquisitions by Marshall & Ilsley and its subsidiaries.

TFS Financial, the holding company for Third Federal Savings and Loan Association of Cleveland, reported net income of $14.8 million for the three months ended March 31, 2008, compared to net income of $12 million for the same period in 2007.

Center Bancorp, through its National Bank subsidiary, Union Center National Bank, has announced the expansion of its financial services to offer wealth management through American Economic Planning Group of Watchung, New Jersey.

Annapolis Bancorp, parent company of BankAnnapolis, has announced that net income for the first quarter of 2008 stood at $525,000 or $0.13 per diluted share, down 12.9% from $603,000 or $0.14 per diluted share for the same period in 2007.

Credit Suisse, a provider of banking and other financial services, has launched credit Suisse SICAV One (Lux) Global Tactical Asset Allocation 10% VaR, to tap the opportunities in the global markets.

First West Virginia Bancorp, the parent company of Progressive Bank, has reported net income of $636,341 or $0.42 per share for the first quarter of 2008 compared to $415,396 or $0.27 per share for the same period in 2007.