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Catholic Schools to honor National Bank of Arizona for philanthropic efforts

Staff Phoenix Business Journal National Bank of Arizona will be named as the inaugural recipient of the Diocese of Phoenix Catholic Schools “Guardian of Hope Award for Corporate Philanthropy.” The award will be presented Oct. 26 by Catholic Education Arizona during the Night of Hope Dinner for Catholic Schools “National Bank of Arizona has been tireless in its commitment to invest in quality education throughout the community and our Catholic school families have been tremendously blessed by their support,” said Alan Sears[1], chairman of the board. “We all know how difficult the economy has been on Arizona families and businesses alike for the past several years, yet even through tough economic times National Bank of Arizona[2] continued to deliver significant scholarship support for over 200 of our neediest students per year,” Sears added. In addition to its numerous other philanthropic endeavors in the community, National Bank of Arizona has contributed more than $2 million in scholarships to Catholic Education Arizona since 2006. For several years, the bank has incentivized hundreds of first-time donors to make personal tax credit contributions to support low-income students through a special “matching gift” program aimed at eligible taxpayers that have yet to participate. References^ Alan Sears (feeds.bizjournals.com)^ National Bank of Arizona (www.bizjournals.com)...
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Dell's move to go private won't sit well with T. Rowe's Rogers

BBJ File Photo Brian Rogers claims that the deal between Dell and Silver Lake Partners undervalues the company Gary Haber[1] Staff Reporter- Baltimore Business Journal Email[2] | Twitter[3] Dell Inc.[4] shareholders approved founder Michael Dell[5]’s plans to take the Round Rock, Texas, computer maker private, but it was a move T. Rowe Price Chairman [6]Brian Rogers[7] publicly opposed. T. Rowe (NASDAQ: TROW), though its mutual funds, was the fourth-largest institutional shareholder in Dell (NASDAQ: DELL) as of June 30, according to FactSet data. The company owned just under 61 million Dell shares as of that date, which was down from 77.6 million shares as of March 31, according to FactSet. Rogers, who is also T. Rowe’s chief investment officer, reaffirmed in July his view that Dell and investment firm Silver Lake Partners’ $24.4 billion offer undervalued the company[8]. Dell and Silver Lake since increased their offer to about $24.9 billion. Dell shareholders will get $13.88 in cash for each share, including a 13 cent special dividend, under the proposal shareholders approved Thursday. Kylie Muratore[9], a T. Rowe spokeswoman, said the company was not commenting on the shareholder vote. Gary Haber covers Banking, Finance, Insurance, Law References^ Gary Haber (feeds.bizjournals.com)^ Email (feeds.bizjournals.com)^ Twitter (twitter.com)^ Dell Inc. (www.bizjournals.com)^ Michael Dell (feeds.bizjournals.com)^ but it was a move T. Rowe Price Chairman (www.bizjournals.com)^ Brian Rogers (feeds.bizjournals.com)^ undervalued the company (www.bizjournals.com)^ Kylie Muratore (feeds.bizjournals.com)...
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3 questions with NewDominion President Marc Bogan

Marc Bogan is president of NewDominion Bank. Adam O'Daniel[1] Finance Editor- Charlotte Business Journal Email[2] | Twitter[3] | Google+[4] Marc Bogan[5] had a new problem this summer at NewDominion Bank:[6] Too many people looking in rather than out. After two and a half years of balance sheet repair, capped by a $10.5 million capital raise, the bank had committed many of its resources to clean up. Bogan, the bank president, says he addressed the problem this summer, deploying more bankers back onto the street, doubling the size of his business banking team[7] in the process. How did you double your business banking staff so quickly? We took a look at our organization and realized there were some administrative positions internally that we needed to refocus on business developnent. When we finished the capital raise, and checked that box on June 30 and preserved and stabilized the balance sheet, we shifted to growing and building the balance sheet. We had six people actively calling on businesses. Now we’ve gone from six to 12. We named a business banking executive. We hired some new bankers. We refocused some people that had been focused internally. And we had some administrative jobs and made them customer-facing. We also brought in a commercial loan administration executive to give us a tremendous amount of firepower there. We’ve got a consumer loan administrator and a commercial administrator who are fully dedicated to those portfolios with the purpose being to grow volume, build the balance sheet and grow revenue and also to preserve and maintain the quality of the portfolio, which had been a challenge for our organization in the past. Which comes first: demand for more loans or the staff to go drum up the business? Adam O'Daniel covers banking, entrepreneurs and technology for the Charlotte Business…
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Treasury's most powerful woman could open the door for Larry Summers at the Fed

Andrew Harrer | Bloomberg Lael Brainard, under secretary of the Treasury for international affairs, is reportedly being considered for a post on the Fed's board of governors. Galen Moore[1] Web Editor- Boston Business Journal Email[2] | Twitter[3] | Google+[4] The White House is reportedly considering Lael Brainard[5], the top female official at the U.S. Department of the Treasury[6], to fill one of four vacant seats on the Federal Reserve System's[7] board of governors – a move that could ease feminist criticism as President Barack Obama[8] leans toward picking Lawrence Summers[9] to head the Fed. Summers would be a controversial choice due to his deregulatory zeal during the Clinton administration and comments he made about women in math and sciences while president of Harvard University[10]. His appointment would be seen as passing over the Fed's vice chair, Janet Yellen[11]. According to the Washington Post's Zachary Goldfarb[12], Obama is leaning toward Summers nonetheless. On Monday, the Post's Ylan Mui reports[13] Obama is considering Brainard, Treasury's undersecretary for international affairs, for a spot on the Fed board. "Brainard’s nomination could help solve a public-relations problem for the White House, which has been assailed over the lack of women in premier posts," Mui writes. References^ Galen Moore (feeds.bizjournals.com)^ Email (feeds.bizjournals.com)^ Twitter (twitter.com)^ Google+ (plus.google.com)^ Lael Brainard (feeds.bizjournals.com)^ U.S. Department of the Treasury (www.bizjournals.com)^ Federal Reserve System's (www.bizjournals.com)^ Barack Obama (feeds.bizjournals.com)^ Lawrence Summers (feeds.bizjournals.com)^ Harvard University (www.bizjournals.com)^ Janet Yellen (feeds.bizjournals.com)^ According to the Washington Post's Zachary Goldfarb (www.washingtonpost.com)^ the Post's Ylan Mui reports (www.washingtonpost.com)...
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Bank M&A activity slow but increase predicted

Kevin Cummings, CEO of Investors Bancorp in Short Hills. N.J., who announced the only merger or acquisition involving a local bank this year when it said in April it planned to acquire Sewell, N.J.-based Gateway Community Financial Corp. Jeff Blumenthal[1] Reporter- Philadelphia Business Journal Email[2] | Twitter[3] | Google+[4] | LinkedIn[5] Bank merger and acquisition activity in 2013 is still behind last year’s pace both nationally and locally, according to data from SNL Financial. Through the first eight months of the year, there were 134 announced deals, which is on pace for slightly more than 200 for the year. That is below the 236 deals in 2012 but above the 149 in 2011 and 179 in 2010. Mark McCollom[6], an investment banker with Griffin Financial Group, pulled out the mid-Atlantic region — defined for these purposes as banks in New York, New Jersey, Pennsylvania, Delaware and Maryland McCollom said there were 18 deals in 2011, 23 in 2012 and 11 in the first two thirds of 2013. The median price-to-tangible book value for those 2013 deals was 120 percent, up slightly from 118 percent in 2012 but below the 125 percent in 2011. But there was only one announced deal involving a bank located in the Philadelphia region. In April, Sewell, N.J.-based Gateway Community Financial Corp., parent to GCF Bank, agreed to be acquired by the much larger Investors Bancorp of Short Hills, N.J. This at a time when the American Banker singled out Pennsylvania as a hot market for M&A activity. McCollom said the good news is that most buyers saw their currency improve. But concerns over waiting for the final guidelines for Basel 3— the global regulatory standard on bank capital adequacy, stress testing and market liquidity risk— caused concerns about possible returns in transactions. But with Basel…
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Atlantic Coast Financial board members approved

Timothy Gibbons[1] Managing Editor- Jacksonville Business Journal Email[2] | Twitter[3] | Google+[4] | Facebook[5] Two of the men nominated to the board of Atlantic Coast Financial Corp.[6] by (previously) dissident shareholder Jay Sidhu[7] have had their appoints approved by the Federal Reserve Bank of Atlanta. Kevin G. Champagne[8] and John J. Dolan[9] formally began as directors of the company on Aug. 30 after being elected Aug. 16. Having the two new directors take over means that board members Thomas F. Beeckler[10] and Charles E. Martin[11] are no longer serving. Sidhu, who opposed having Atlantic Coast merge with Bond Street Holdings, had said the company needed a new board and CEO [12]if it were to find its way forward. Sidhu himself had resigned from the board[13] in 2012, saying the bank wasn't managing risk properly. Dave Bhasin[14] — who Sidhu had also nominated and was then elected — is still being reviewed by the Federal Reserve Bank of Atlanta. Champagne and Dolan have both been named to the bank's Audit Committee, with Dolan as chairman and Champagne as the Audit Committee Financial Expert. References^ Timothy Gibbons (feeds.bizjournals.com)^ Email (feeds.bizjournals.com)^ Twitter (twitter.com)^ Google+ (plus.google.com)^ Facebook (www.facebook.com)^ Atlantic Coast Financial Corp. (www.bizjournals.com)^ Jay Sidhu (feeds.bizjournals.com)^ Kevin G. Champagne (feeds.bizjournals.com)^ John J. Dolan (feeds.bizjournals.com)^ Thomas F. Beeckler (feeds.bizjournals.com)^ Charles E. Martin (feeds.bizjournals.com)^ needed a new board and CEO (www.bizjournals.com)^ resigned from the board (www.bizjournals.com)^ Dave Bhasin (feeds.bizjournals.com)...
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