Showing posts from March, 2018

Two suburban banks test new ways to court urban residents

By  John Reosti, The American Banker Newspaper. Published March 07 2018, 3:10pm EST
Howard Bancorp in Maryland and Bryn Mawr Bank Corp. in Pennsylvania, both banks with suburban roots, have marketing challenges on their hands after recent acquisitions in more urban areas. Their goals — to raise their profiles in new, diverse neighborhoods — are identical, but their approaches are very different. The $2.1 billion-asset Howard is so committed to Baltimore that it moved its headquarters downtown from suburban Ellicott City after completing the purchase of First Mariner Bank on March 1. Now, the merged company plans to increase its philanthropy budget and focus it on projects that will benefit what CEO Mary Ann Scully termed “stressed” communities; job training will be a top priority. Bryn Mawr deepened its presence in Philadelphia after acquiring Royal Bank American in December. The resulting $4.5 billion-asset company has established a multicultural advisory board made up of a dozen pro…

On tarriffs, Goldman Sachs, economics and why the right is wrong


Probability of a Fed Rate Hike in March, 2018 is 92.3% by Hongcheng Chen, Creative Investment Research

New Federal Reserve Chairman Jerome H. Powell (above) showed up at the Rayburn House Office Building on February 27 to deliver his first semiannual testimony before the Committee on Financial Services. Before he dug into the details of monetary policy, Powell described the outlook for the U.S. economy as bright androbust: “The U.S. economy grew at a solid pace over the second half of 2017 and into this year.” setting an optimistic tone for his interpretation of the current economy and prospects for the future. He emphasized that U.S. economy, from his perspective, is getting better, stating that, “my personal outlook for the economy has strengthened since December.” Apparently, the new Chairman of the Fed has full confidence in this country’s economy despite the Dow Jones’s plunge of more than 600 points in the same month.
Here are some highlights from Powell’s testimony.
Labormarket:job growth since last year has been solid enough to lower the unemployment rate to 4.1%;…