Business
First Chicago Corp. said Monday that it will cut its risk in the troubled real estate market by selling nearly half of its commercial real estate loan portfolio at an anticipated 54% of face value.
Sept. 15, 1992
Some of the nation’s biggest banks reported stronger second-quarter earnings Monday, reflecting what analysts said was a wide gap between revenue from loans and investments and what the banks have to pay to raise money.
July 14, 1992
First Chicago Corp.: The largest banking company in the Midwest posted fiscal 1989 net income of $359 million, a drop of 30% from fiscal 1988, in part because of problems with loans to less developed countries.
Jan. 16, 1990
Three of the nation’s biggest banking companies on Monday reported profits for the fourth quarter of 1990 but showed a mixed performance for the year.
Jan. 15, 1991
World & Nation
The Justice Department said it cleared the $29-billion merger of Banc One Corp. with First Chicago NBD Corp. after the banks agreed to divest 39 branch offices in Indiana with total deposits of nearly $1.5 billion.
Sept. 9, 1998
The commercial real estate market in Southern California is finally starting to thaw after three years of being in a virtual deep-freeze.
April 14, 1993
Slow economic growth and the credit crunch curtail investment in commercial real estate.
June 19, 2008
BankAmerica’s announcement that it wants to buy Continental Bank Corp., the venerable Chicago financial institution, is only the latest in a wave of consolidations and interstate combinations of lenders squeezed by intensifying competition.
Jan. 29, 1994
Banking’s latest merger wave gained strength Wednesday as two big Midwest banks, First Chicago Corp. and Detroit-based NBD Bancorp Inc., announced the second-largest union in U.S. banking history.
July 13, 1995
Nearly all of the nation’s major banks slashed their prime rates Wednesday to 9.5% from 10%, but economists and bankers expect the moves to trigger little new borrowing as long as there is a threat of war in the Persian Gulf.
Jan. 3, 1991