Deal to Acquire Texas Capital Bancshares Moves Forward
Coastal Bancorp offers $21.1 million to buy Texas Capital Bancshares, seeking regulatory and shareholder approval. Coastal operates 36 branches with $2.4 billion in assets while Texas Capital Bank runs five Houston area offices with $176.9 million in assets and $166 million in deposits. Mehos says the acquisition expands Coastal into commercial lending, viewing it as cost efficient.
MENTIONED IN THIS ARTICLE
Houston
Coastal Bancorp
Texas Capital
Coastal
Manuel J. Mehos
Mehos
Asset rate changes span banks and funds across major firms
Money magazine via AP reports latest shifts in rates and asset values from sources including Bank Rate Monitor, the Federal Reserve, Investment Company Institute, Lehman Brothers, Lipper Analytical Services, Merrill Lynch, Money Fund Report, Morgan Stanley Capital International, National Association of Real Estate Investment Trusts, Prudential Asset, Standard & Poor’s, Robert Stanger & Co., and World Gold. The overview notes market adjustments affecting funds, securities, and real estate investment trusts.
MENTIONED IN THIS ARTICLE
Bank Rate Monitor
The
Federal Reserve, Investment Company Institute
Lehman Bros
Lipper Analytical Services
Merrill Lynch
Money Fund Report
Morgan Stanley Capital International
National Association of Real Estate Investment Trusts
Prudential Assetees Standard & Poor's
Robert Stanger & Co
World Gold K
Refunds offer money in the bank
IRS expects overpaid 1994 federal taxes totaling more than 80 billion dollars to be returned to about 70 percent of 115 million filers. The average refund is 1125 dollars, about 6 percent higher than last year. Advisers urge using part for emergency reserves, debt payoff, and prudent investing in mutual funds or IRAs, with no load funds favored and minimums often around 1000 dollars.
MENTIONED IN THIS ARTICLE
Bank
IRS
New York
Internal Revenue Service
Hank Madden
Madden and Associates Financial Consultants
Jacksonville
Fla
Lipper Analytical
Travel cards rise as travelers weigh payment options abroad
The piece notes Karl Malden’s warning about traveler's checks but outlines how ATMs and debit cards, including Visa Interlink and Mastercard Maestro, expand overseas purchasing. It cites 60 billion in annual travel sales, expresses safety concerns about plastic, and highlights fees and network reach.
MENTIONED IN THIS ARTICLE
Karl Malden
American Express
David Love
American Society of Travel Agents
Visa Check
Interlink
Visa
United States
New Zealand
South Korea
Panama
Mastercard
Ahmed Kabani
Financial Travel Center
Miami
Susan Forman
Visa USA
Mutual Funds Set to Grow Bigger by End of 1990s
Mutual funds, already owned by over 30 million Americans and averaging rapid growth, are expected to expand further in the late 1990s. Industry leaders at an Investment Company Institute gathering foresee assets rising from 2.3 trillion today toward 3.5 to 5 trillion, with compounding dividends and default diversification fueling continued investor participation.
MENTIONED IN THIS ARTICLE
New York
Investment Company Institute
Washington
Funds’ Trade Group
Congress
Also Mentioned on This Page
Industry Digest
Save Mirage
Money Magazine
NYSE
OTC
Money Funds
Madden
Jonathan Pond
Boston
Pond
Marcos Rada
Mastercard International
the Miami Herald
Knight-Ridder Tribune
Garrick Gibson
Visa/Plus International
Rada
Demearlel Center
Department 395-B
Pueblo
Colo
Treasury
Arthur Levitt
Securities and Exchange Commission
Ants Ec Nee
FMA
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