There is Efficient and then There is Efficient

There’s Efficient and then There’s Efficient

Bank of Internet, USA, CA was established in 2000 as one of the first “internet” banks in the United States—hence the name.  In 2011, it was renamed to BOFI Federal Bank and now again to Axos Bank.

Since its inception, the now 4-Star  rated Axos Bank has grown into a nearly $10 billion asset bank that operates two brick and mortar branches in addition to its…

Consumer Debt

Community Banks Tops for Consumer Loans

According to the FDIC’s Quarterly Banking Profile (QBP) for June 30, 2018, bank industry loans to consumers increased nearly five and half percent from June 30, 2017 to June 30, 2018. Credit card loans, a subset of those consumer loans, increased 7.4% during the same time frame. For the most part, consumers are managing credit card debt well.

Acquiring Credit Unions Wants Banks

Acquiring Credit Unions Want Banks

Last week we reported that the percent of recommended credit unions (i.e. rated 5-Stars or 4-Stars) now exceeds 81% of the total. Of those, 111 that were 4-Star rated last quarter have now earned Bauer’s highest, 5-Star rating. They  can be found on page 7 and on the supplement to this week’s issue.

What we also want to discuss is the growing number of strong  credit unions looking to buy community banks.

 

UnFare Life for Taxi Cab Lenders

Un-“Fare” Life for Taxi Cab Lenders

On Friday, August 31, 2018, the NCUA liquidated Zero-Star Melrose Credit Union, Briarwood, NY. We have reported several times in the past on Melrose CU, which was the largest taxi medallion lender in New York, and hence in the country.

The origin of taxi medallions dates back to the 1930s as a means to limit the number of cabs on the streets and allow cab drivers to earn a decent living. These medallions…