Yellen, the first woman to lead the Fed in its 100 years, was sworn in during a brief ceremony in the central bank's board room. She succeeded Ben Bernanke, who stepped down last week after eight momentous years.
Bernanke is joining the Brookings Institution, a Washington think tank, where he will be a distinguished fellow in residence, Brookings announced Monday.
The economy Yellen inherits is far stronger than the one Bernanke faced in the fall of 2008, when the worst financial crisis since the 1930s erupted. Bernanke spent the rest of his tenure launching and managing an array of programs that are widely credited with helping restore lending and strengthen the financial system and economy after the Great Recession.
Top 10 Communications Equipment Companies To Buy Right Now: Commercial Bancshares Inc (CMOH)
Commercial Bancshares, Inc. is a financial holding company. The Company�� banking subsidiary, The Commercial Savings Bank (the Bank), is engaged in the business of commercial and retail banking, with operations conducted through its main office and branches located in Upper Sandusky, Ohio and neighboring communities in Wyandot, Marion and Hancock counties. The Bank provides customary retail and commercial banking services to its customers, including acceptance of deposits for demand, savings and time accounts, individual retirement accounts (IRAs) and servicing of such accounts; commercial, consumer and real estate lending, including installment loans, and safe deposit and night depository facilities. Commercial Financial and Insurance Agency, LTD is its wholly owned subsidiary. The Bank also owns a 49.9% interest in Beck Title Agency, Ltd.
Lending Activities
The Bank grants residential, installment and commercial loans to customers located primarily in the Ohio counties of Wyandot, Marion and Hancock and the surrounding area. Commercial loans are primarily variable rate and include operating lines of credit and term loans made to small businesses primarily based on the ability to repay the loan from the cash flow of the business. Commercial real estate loans are primarily secured by borrower-occupied business real estate, and are dependent on the ability of the related business to generate adequate cash flow to service the debt. Residential real estate loans are made with primarily variable rates and are secured by the borrower�� residence. As of December 31, 2011, approximately 75.5% of the Company�� loan and lease portfolio consisted of commercial, construction and commercial real estate loans.
Investment Activities
Securities are classified as available for sale. Securities available for sale are carried at fair value. The securities available for sale include obligations of the United Sates Government and federal agencies, obligations of ! state and political subdivisions, and mortgage-backed securities. As of December 31, 2011, total securities available for sale were approximately $24.5 million, which included approximately $4.06 million of obligations of the United Sates Government and federal agencies, approximately $14.3 million of obligations of state and political subdivisions, and approximately $6.4 million of mortgage-backed securities.
Sources of Funds
As of December 31, 2011, the Company had approximately $259.1 million of deposits, which included approximately $ 38.1 million of noninterest-bearing demand, approximately $103.7 million of interest-bearing demand, approximately $ 86.9 million of savings and approximately $ 30.2 million of time deposits $100,000 and greater. As of December 31, 2011 the Company had no borrowings with Federal Home Loan Banks (FHLB).
Advisors' Opinion:- [By Doug Hughes]
Commercial Bancshares (CMOH) operates as the holding company for The Commercial Savings Bank, with just over $300,000 in assets and $259,000 million in loans. This small, but very strong bank had 5% loan growth last year and net charge-offs of just 0.23%.
Top 5 Bank Stocks To Own Right Now: Mitsubishi UFJ Financial Group Inc (MTU)
Mitsubishi UFJ Financial Group, Inc. (MUFJ), incorporated on April 2, 2001, is a holding company for The Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU), Mitsubishi UFJ Trust and Banking Corporation (MUTB), Mitsubishi UFJ Securities Holdings Co., Ltd. (MUSHD), Mitsubishi UFJ Morgan Stanley Securities Co., Ltd.( MUMSS), Mitsubishi UFJ NICOS Co., Ltd. (Mitsubishi UFJ NICOS) and other companies engaged in a range of financial businesses. Its services include commercial banking, trust banking, securities, credit cards, consumer finance, asset management, leasing and fields of financial services. In May 2010, the Company and Morgan Stanley formed two joint ventures in Japan by integrating our respective Japanese securities companies engaged in investment banking and securities businesses. The Company converted the wholesale and retail securities businesses conducted in Japan by the former MUS into one of the joint venture entities, which is named MUMSS. Morgan Stanley contributed the investment banking operations conducted in Japan by its formerly wholly owned subsidiary, Morgan Stanley Japan Securities Co., Ltd. (MSJS) into MUMSS and converted the sales and trading and capital markets businesses conducted in Japan by MSJS into a second joint venture entity called Morgan Stanley MUFG Securities, Co., Ltd.
Integrated Retail Banking Business Group
The Integrated Retail Banking Business Group covers all domestic retail businesses, including commercial banking, trust banking and securities businesses, and enables the Company to offer a range of banking products and services, including financial consulting services, to retail customers in Japan. This business group integrates the retail business of BTMU, MUTB and MUMSS, as well as retail product development, promotion and marketing in a single management structure. Many of its retail services are offered through its network of MUFG Plazas providing individual customers with access to its financial product offerings of integrated commercial b! anking, trust banking and securities services.
The Company offers a range of bank deposit products, including a non-interest-bearing deposit account that is redeemable on demand and intended for payment and settlement functions, and is insured without a maximum amount limitation. It also offers a variety of asset management and asset administration services to individuals, including savings instruments, such as current accounts, ordinary deposits, time deposits, deposits at notice and other deposit facilities. MUFJ also offers trust products, such as loan trusts and money trusts, and other investment products, such as investment trusts, performance-based money trusts and foreign currency deposits.
The Company creates portfolios by combining savings instruments and investment products. It also provide a range of asset management and asset administration products, as well as customized trust products for high-net-worth individuals, as well as advisory services relating to the purchase and disposal of real estate and effective land utilization, and testamentary trusts. The Company provides a varied line up of investment trust products allowing its customers to choose products according to their investment needs through BTMU, MUTB and MUMSS, as well as kabu.com Securities, which specializes in online financial services. In the fiscal year ended March 31, 2010, BTMU offered a total of five investment trusts. As of the end of March 2010, BTMU offered its clients a total of 73 investment trusts.
The Company offers securities, including publicly offered stocks, foreign and domestic investment trusts, Japanese government bonds, foreign bonds and various other products. The Company offers housing loans, card loans and other loans to individuals. With respect to housing loans, in addition to housing loans incorporating health insurance for seven major illnesses, BTMU began offering in June 2009 preferential interest rates under its Environmentally Friendly Support program ! to custom! ers who purchase environment-conscious houses (like houses with solar electric systems), which meet specific criteria in response to increasing public interest in environmental issues. In September 2009, BTMU launched housing loans with home mortgage insurance, which BTMU jointly developed with the Japan Housing Finance Agency, a governmental agency under the Japanese government�� economic stimulus measures, under which the agency indemnifies BTMU for losses from housing loans.
The Company offers products and services through a range of channels, including branches, automated teller machines (ATMs) (including convenience store ATMs shared by multiple banks), Mitsubishi-Tokyo UFJ Direct (telephone, Internet and mobile phone banking), the Video Counter and postal mail. It offers integrated financial services combining its banking, trust banking and securities services at MUFG Plazas. These Plazas provide retail customers with integrated and flexible suite of services at one-stop outlets. As of March 31 2010, the Company provided those services through 47 MUFG Plazas. The Company offers MUTB�� trust related products and advisory services through its trust agency system not only for MUTB customers but also for BTMU and MUMSS customers. As of March 31, 2010, BTMU engaged in eight businesses as the trust banking agent for MUTB: testamentary trusts, inheritance management, asset succession planning, inheritance management agency operations, business management financial consulting, lifetime gift trusts, share disposal trusts, and marketable securities administration trusts.
Integrated Corporate Banking Business Group
The Integrated Corporate Banking Business Group covers all domestic and overseas corporate businesses, including commercial banking, investment banking, trust banking and securities businesses, as well as UnionBanCal Corporation (UNBC). UNBC is a wholly owned subsidiary of BTMU and a US bank holding company with Union Bank being its primary subsidiary. T! he Compan! y provides various financial solutions, such as loans and fund management, remittance and foreign exchange services. It also helps its customers develop business strategies, such as inheritance-related business transfers and stock listings.
It offers advanced financial solutions to companies through corporate and investment banking services. Product specialists globally provide derivatives, securitization, syndicated loans, structured finance and other services. It also provides investment banking services, such as merger and acquisition (M&A) advisory, bond and equity underwriting. It provides online banking services that allow customers to make domestic and overseas remittances electronically. It also provides a global cash pooling/netting service, and the Treasury Station, a fund management system for a multi-company group. The Company�� global Corporate and Investment Banking business (Global CIB), primarily serves companies, financial institutions, and sovereign and multinational organizations with a set of solutions for their financing needs.
Integrated Trust Assets Business Group
The Integrated Trust Assets Business Group covers asset management and administration services for products, such as pension trusts and security trusts by integrating the trust banking expertise of MUTB and the international strengths of BTMU. The business group provides a range of services to corporate and pension funds, including stable and secure pension fund management and administration, advice on pension schemes, and payment of benefits to scheme members. Its Integrated Trust Assets Business Group combines MUTB�� trust assets business, comprising trust assets management services, asset administration and custodial services, and the businesses of Mitsubishi UFJ Global Custody S.A., Mitsubishi UFJ Asset Management Co., Ltd. and KOKUSAI Asset Management Co., Ltd.
Advisors' Opinion:- [By Jim Jubak]
Yesterday in Tokyo, the Nikkei 225 stock index (NKY:IND) closed up 3.13%. Financial and real estate stocks were the big winners. In the financial sector, Mitsubishi UFJ Financial Group (MTU) rose 5.03% and Sumitomo Mitsui Financial Group (SMFG) climbed 5.0%. (Mitsubishi UFJ Financial Group is a member of my Jubak's Picks portfolio.) In the real estate sector, Heiwa Real Estate (8803:JP) gained 4.13% and Mitsui Fudosan (8801:JP) advanced 3.31%. The yen fell against the dollar by 0.4% to 102.34 yen to the dollar.
- [By Jim Jubak, Senior Markets Editor, MoneyShow.com]
The one currency that is running against the weak dollar tide is the Japanese yen. The yen initially climbed on the Fed's no taper decision—rising to 97.75 on the news—but then fell all the way back to 99 yen to the dollar and finished yesterday at 99.42. (Remember that since the yen is quoted in yen to the dollar, a higher number is a sign of a weak yen and a smaller number means the yen is getting stronger.) The thinking seems to be that the recent Japanese trade deficit will push the Bank of Japan to further weaken the yen, in order to boost Japanese exports. I continue to think that the yen will finish 2013 at weaker levels than current trading, and that leads me to continue to hold positions in Japanese stocks such as Toyota Motor (TM) and Mitsubishi UFJ Financial Group (MTU). Both stocks are members of my Jubaks Picks portfolio.
- [By Dan Carroll]
Mitsubishi UFJ (NYSE: MTU ) also plunged in the Japanese financial sector's sell-off, with the firm's stock dropping 12.3% over the week. This firm faced more of a threat from Thursday's action, however: Japan's benchmark bond yield climbed to its highest level in more than a year, and Mitsubishi is the largest lender by assets in the country and holds more than 48 million yen in government bonds. Bond yields are still coming off of record lows, so Mitsubishi's hardly in a dangerous place. The firm's attempts to expand recently may also help boost revenue at a company that posted declining net income in its most recent quarter.
Top 5 Bank Stocks To Own Right Now: Chino Commercial Bancorp (CCBC)
Chino Commercial Bancorp, incorporated on March 2, 2006, is a bank holding company of Chino Commercial Bank, N.A. (the Bank). The Bank provides a wide variety of lending products for both businesses and consumers. The Bank offers an array of personal, consumer and commercial services generally offered by a locally-managed, independently-operated bank. The Bank provides a range of deposit instruments and general banking services, including checking, savings accounts (including money market demand accounts), certificates of deposit for both business and personal accounts; Internet banking services, such as cash management and Bill Pay; telebanking (banking by phone); and courier services. The Bank operates three full-service banking offices.
Lending Activities
Commercial loan products include lines of credit, letters of credit, term loans, equipment loans, commercial real estate loans, construction loans, accounts receivable financing, working capital financing. Financing products for individuals include auto, home equity, overdraft protection lines and, through a third party provider, MasterCard debit cards. Real estate loan products include construction loans, land loans, mini-perm commercial real estate loans, and home mortgages. As of December 31, 2011, the Company had total assets of $109.7 million and net loans of $55.2 million. Its lending activity is concentrated primarily in real estate loans, which constituted 81.3% of the Company�� loan portfolio as of December 31, 2011, and commercial loans, which constituted 17.6%, of the Company�� loan portfolio as of December 31, 2011.
Investment activities
The Company�� investment security portfolio consists of United States government agency securities, mortgaged-backed securities, municipal bonds and corporate bonds. Investment securities held to maturity are carried at cost, which equates to the unpaid principal balances adjusted for amortization of premium and accretion of discounts.
Sources of funds
Deposits are the Company�� primary source of funds. As of December 31, 2011, the Company�� total deposits were $98.1 million. As of December 31, 2011, its deposits included demand deposits, negotiable order of withdrawal (NOW), savings deposits, money market and time deposits.
Advisors' Opinion:- [By Lisa Levin]
Regional - Pacific Banks: This industry rose 1.54% by 10:40 am ET. The top performer in this industry was Chino Commercial Bancorp (OTC: CCBC), which gained 10.2%. Chino Commercial Bancorp's trailing-twelve-month operating margin is 27.57%.
Top 5 Bank Stocks To Own Right Now: First Connecticut Bancorp Inc (FBNK)
First Connecticut Bancorp, Inc. (FCB) is a stock holding company. FCB has been formed in connection with the conversion of First Connecticut Bancorp, Inc. a mutual holding company (MHC), from the mutual to the stock form of organization. As of December 31, 2009, MHC owned all of the outstanding stock of Farmington Bank, a savings bank. The MHC will cease to exist as a result of the conversion, and FCB will own all of the common stock of Farmington Bank. As of December 31, 2009, FCB was not engaged in any business. Farmington Bank is a full-service, community bank with 15 full-service branch offices and four limited service offices, including its main office, located throughout Hartford County, Connecticut.
Farmington Bank provides a diverse range of commercial and consumer services to businesses, individuals and governments across Central Connecticut. Farmington Bank provides a range of banking services to businesses, individuals and governments in Central Connecticut. It also offers a range of residential mortgage loan services. Farmington Bank�� subsidiaries include Farmington Savings Loan Servicing, Inc., Village Investments, Inc., Village Corp., Limited, 28 Main Street Corp., Village Management Corp. and Village Square Holdings Inc.
Farmington Savings Loan Servicing, Inc. operates as Farmington Bank�� passive investment company (PIC). Village Investments, Inc. offers brokerage and investment advisory services through a contract with Infinex Financial Services, a registered broker-dealer. Village Corp., Limited was established to hold certain commercial real estate acquired through foreclosures, deeds in lieu of foreclosure, or other similar means. Village Square Holdings, Inc. holds certain commercial real estate of Farmington Bank, formerly used as Farmington Bank�� operations center prior to its relocation to One Farm Glen Boulevard, Farmington, Connecticut. As of December 31, 2009, 28 Main Street Corp and Village Management Corp were inactive.
Len! ding Activities
Farmington Bank�� primary lending activities consists of the origination of one-to-four family residential real estate loans that are primarily secured by properties located in Hartford County and surrounding counties in Connecticut. During the year ended December 31, 2009, the Bank originated $75.8 million of fixed-rate one-to-four family residential loans. The Bank also offers adjustable-rate mortgage loans for one-to-four family properties, with an interest rate that adjusts annually based on the one-year Constant Maturity Treasury Bill Index, after a one, three, four, five, seven or nine-year initial fixed-rate period. Its adjustable rate mortgage loans generally provide for maximum rate adjustments of 200 basis points per adjustment, with a lifetime maximum adjustment up to 6%, regardless of the initial rate. Its adjustable rate mortgage loans amortize over terms of up to 30 years. During 2009, it originated $49.2 million adjustable rate one-to-four family residential loans and purchased $33 million adjustable rate mortgages.
Farmington Bank originates commercial real estate loans and loans on owner-occupied properties used for a variety of business purposes, including office buildings, industrial and warehouse facilities and retail facilities. As of December 31, 2009, the Bank�� owner-occupied commercial mortgage loans constituted the largest portion of its commercial real estate portfolio. During 2009, commercial mortgage loans totaled $265.5 million and owner-occupied commercial real estate loans totaled $133.3 million of its commercial real estate portfolio.
Farmington Bank offers construction loans, including commercial construction loans and real estate subdivision development loans, to developers, licensed contractors and builders for the construction and development of commercial real estate projects and residential properties. During 2009, the Bank�� loans outstanding, including commercial and residential, totaled $68.7 million! . The Ban! k also originates construction loans to individuals and contractors for the construction and acquisition of personal residences.
Farmington Bank�� commercial business loan portfolio comprises both middle market companies and small businesses located primarily in Connecticut. Farmington Bank�� Resort (Timeshare) Loans include receivables loans, pre-sale loans, inventory loans, acquisition and development loans, and homeowner association loans. During 2009, its timeshare loans totaled $82.8 million. Farmington Bank also offers home equity loans and home equity lines of credit, both of which are secured by owner-occupied one-to-four family residences. At December 31, 2009, home equity loans and equity lines of credit totaled $66.7 million.
Farmington Bank also offers various types of consumer loans, including installment, demand, revolving credit and collateral loans, principally to customers residing in its primary market area with acceptable credit ratings. Its installment and collateral consumer loans generally consist of loans on new and used automobiles, loans collateralized by deposit accounts and unsecured personal loans.
Advisors' Opinion:- [By CRWE]
First Connecticut Bancorp, Inc. (Nasdaq:FBNK) reported that its Board of Directors has voted to pay a cash dividend in the amount of $0.03 per share on June 14, 2012 to all shareholders of record as of June 4, 2012.
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