Skjellifetti

The Second Wave of Bank Troubles

NCC purchased two FL thrifts in 2006 in an attempt to enter the FL market. They overpaid and are (at least partially) in trouble due to subprime lending in FL.

Huntington Bank is down due to a purchase of Sky Bank which has cost it the usual merger/acquisition/int... stuff plus Sky had a link to Franklin Credit Management Corp. (NASDAQ:FCMC) which has forced Huntington to take a $500 million loan loss set aside on subprime mortgages related to the Sky acquisition.