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October 10, 2008: Monroe Bank and Trust 98 16 Meridian Bank Eldred: Illinois: October 10, 2008: National Bank 39.2 17 Alpha Bank & Trust Alpharetta: Georgia October 24, 2008: Stearns Bank, N.A. 354.1 18 Freedom Bank Bradenton Florida October 31, 2008: Fifth Third Bank 287 19 Franklin Bank Houston: Texas: November 7, 2008: Prosperity Bank 5,100 20
Bank of America, Charlotte, North Carolina: Mortgage lender $ 4 × 10 ^ 9 [10] July 14, 2008: Alliance & Leicester: Grupo Santander: Retail and mortgage bank £ 1.26 × 10 ^ 9 [11] August 26, 2008: Roskilde Bank: Danmarks Nationalbank (Danish Central Bank) Retail bank $ 896,800,000 (kr4,500,000,000) [12] September 5, 2008: Silver State Bank ...
The bank expects GDP growth of 1.2% in 2024, 0.6 percentage points above its prior forecast; an unemployment rate of 4.2%, down from 4.4%; and inflation, as measured by the personal consumption ...
During the weekend of September 13–14, 2008, Lehman Brothers declared bankruptcy after failing to find a buyer; Bank of America agreed to purchase investment bank Merrill Lynch; the insurance giant AIG sought a bridge loan from the Federal Reserve; and a consortium of 10 banks created an emergency fund of at least $70 billion to deal with the ...
Bank of America CEO Brian Moynihan says he expects a "shallow recession" over the next year.
Bank of America says a “mild recession” will raise the unemployment rate to 5.5% next year and cool inflation.
January 11, 2008: Bank of America agreed to buy Countrywide Financial for $4 billion in stock. [105] January 18, 2008: Stock markets fell to a yearly low as the credit rating of Ambac, a bond insurance company, was downgraded. Meanwhile, an increase in the amount of withdrawals causes Scottish Equitable to implement up to 12 month delays on ...
Earlier this year, the Federal Reserve's staff dropped forecasts for a recession in 2023, while Bank of America's economics team also pulled its call for a downturn as the US economy defied ...