Oak Ridge, N.C., May 09, 2018 (GLOBE NEWSWIRE) -- Oak Ridge Financial Services, Inc. (“Oak Ridge”; the “Company”) (OTCPink: BKOR), the parent company of Bank of Oak Ridge (the “Bank”), announced that it has been named to American Banker magazine’s Top 200 Publicly Traded Community Banks and Thrifts. The ranking is based on a company’s three-year average return on average equity (“ROAE”) through December 31, 2017. ROAE is widely used by investors to analyze business performance. This is the second time the Company has been named to the prestigious list, and was one of only four other North Carolina bank holding companies in the magazine’s ranking. The Company came in at 104, up 66 spots from last year. /EIN News/ -- “It is an unbelievable honor to be named to American Banker’s Top 200 Community Banks and Thrifts list for the second year in a row,” said Tom Wayne, President and Chief Financial Officer. … [Read more...] about Oak Ridge Financial Services, Inc. Ranked in Top 200 Publicly Traded Community Banks and Thrifts List by American Banker Magazine
China is drafting new rules to rein in businesses offering multiple financial services after runaway growth in recent years has left regulators without a firm handle on their risks to the economy. Officials at the central bank are preparing to roll out rules to bring risk-management and capital-reserves requirements for these companies in line with those for commercial lenders, according to people familiar with the situation. The rules would apply to firms that have waded into two or more financial sectors, said the people,... … [Read more...] about China Plans New Risk-Management Rules for Financial-Services Firms
By Sean Emery | [email protected] | Orange County Register PUBLISHED: May 3, 2018 at 1:17 pm | UPDATED: May 3, 2018 at 1:22 pm The CEO of an Irvine-based financial services firm and two other employees are facing federal charges after authorities allege they defrauded investors out of more than $4 million. A federal indictment filed against several senior employees at Five Star Financial Services of America alleges that they committed wire fraud by targeting retirement accounts and savings of elderly and vulnerable investors. FBI and IRS agents on Thursday morning arrested Five Star’s chief executive officer, Memet Fatih Biyikoglu, 50, of Palm Desert. The company’s president and chief operating officer, Anna Marie Holt, 58, of Fountain Valley, was expected to turn herself in to authorities on Thursday afternoon, according to the U.S. Attorney’s Office. Federal authorities are still searching for Ida Shaghoian, 38, of Palm Desert, who the U.S. Attorney’s Office … [Read more...] about Founder of Irvine financial services firm charged with defrauding investors of more than $4 million
BIG Blockchain Intelligence Group Inc. ("BIG") Engages ATB Financial Services in Pilot Project for Risk Assessment & Compliance of Crypto-Mining Client Activity Big Blockchain Intelligence Group Inc. (OTCMKTS:OTC: BBKCF)VANCOUVER, BRITISH COLUMBIA, CANADA, May 1, 2018 /EINPresswire.com/ -- VANCOUVER, BC – May 1, 2018 – BIG Blockchain Intelligence Group Inc. ("BIG" or the “Company") (CSE: BIGG)(WKN: A2JSKG)(OTC: BBKCF), a leading developer of Blockchain technology search, risk-scoring and data analytics solutions, is pleased to announce it has engaged ATB Financial (ATB) – the largest Alberta-based financial institution, with assets of $50.7 billion – in a pilot project designed to explore and identify opportunities around risk assessment and compliance related to crypto-mining client activity. The pilot project will enable ATB Financial to evaluate firsthand BIG's proprietary cryptocurrency verification product, BitRank VerifiedTM, and the Company's … [Read more...] about BIG Blockchain Intelligence Group Inc. Engages ATB Financial Services in Pilot Project for Crypto-Mining Client Activity
CARMICHAELS, Pa., April 30, 2018 (GLOBE NEWSWIRE) -- CB Financial Services, Inc. (“CB”) (Nasdaq:CBFV), the holding company for Community Bank, announced today that it has completed its merger with First West Virginia Bancorp, Inc. (“FWVB”) (OTCQX:FWVB), the holding company for Progressive Bank, National Association (“Progressive Bank”), effective after the close of business today. FWVB has been merged with and into CB, with CB as the surviving entity, and Progressive Bank has been merged with and into Community Bank, with Community Bank as the surviving entity. With the closing of the merger, CB now has 5,414,099 shares of common stock outstanding. /EIN News/ -- “This is a banner day for both banks. Community Bank and Progressive Bank have been working together for several months to assure that the combination of our banks will go well,” said Barron P. McCune, Jr., Vice Chairman and Chief Executive Officer. “Together we … [Read more...] about CB Financial Services, Inc. Completes Merger with First West Virginia Bancorp, Inc.