Archive for the ‘Finance and Investments’ Category

Two ex-Berkshire Bank Branches to Close

October 1, 2011 Leave a comment

Customers Bank, which finalized its acquisition of Berkshire Bancorp Inc. on Sept. 17, said Friday that two of the five former Berkshire Bank branches will be closed by year’s end.

The offices are at 555 Penn Ave., West Reading, and 2493 Bernville Road, Bern Township.

Jay S. Sidhu, chairman and chief executive of Customers Bank, based in Wyomissing, said the branches, which Berkshire bought from Fleetwood Bank in 2007, were unprofitable for both of those banks.

Sidhu said accounts held at those branches and their employees, whose number he could not provide, will be consolidated into other branch locations.

via Berks business log: Two ex-Berkshire Bank branches to close.

Merger Approved For Berks Co. Bank

September 7, 2011 Leave a comment

Customers Bank announced that shareholders approved the formation of Customers Bancorp Inc., its new bank holding company, and approved the merger with Berkshire Bancorp Inc. at a special meeting Tuesday in Crowne Plaza Reading, Wyomissing. The merger brings the bank, led by Berks County banker Jay S. Sidhu, up to $2 billion in assets.

via Reading Eagle – Local banks’ merger approved

Dan Ariely » Asking the Right and Wrong Questions «

August 30, 2011 Leave a comment

From a behavioral economics point of view, the field of financial advice is quite strange and not very useful.

Read the rest at Dan Ariely » Asking the right and wrong questions «.

Shareholder Meeting Set for Local Bank Merger

August 24, 2011 Leave a comment

Shareholders of Customers Bank and Berkshire Bancorp will vote on the merger of the banks at a joint meeting Sept. 6 at Crowne Plaza Reading, Wyomissing.

via Reading Eagle – Shareholder meeting set for local bank merger.

Gold Shining Bright On Wall Street – Regional News – Berks Story – WFMZ Allentown

August 14, 2011 Leave a comment

WEST READING, Pa. — During the week’s frantic trading, the value of gold reached a record high.

It has been a roller coaster week for the stock market, shaking up the market’s highs and lows on Wall Street. As a result, investors are turning to gold metal for security. John Lis, President of William H. Diller Jewelers, told 69 News on Friday that the price of gold has spiked from around $1,400 an ounce in January to now trading around $1,800. Lis stated the value of gold’s price tag reached a record high.

via Reading Eagle – Gold Shining Bright On Wall Street – Regional News – Berks Story.

Stocks With Easily Pronounced Names Perform Best in the Short Term

August 13, 2011 Leave a comment

Three studies investigated the impact of the psychological principle of fluency that people tend to prefer easily processed information on short-term share price movements.  In both a laboratory study and two analyses of naturalistic real-world stock market data, fluently named stocks robustly outperformed stocks with disfluent names in the short term.

For example, in one study, an initial investment of $1,000 yielded a profit of $112 more after 1 day of trading for a basket of fluently named shares than for a basket of disfluently named shares. These results imply that simple, cognitive approaches to modeling human behavior sometimes outperform more typical, complex alternatives.

Read more at How should you pick stocks if you know nothing about the market? – Barking up the wrong tree.

EnerSys 1st-quarter Net Income Jumps 46 Percent

August 12, 2011 Leave a comment

Industrial battery maker EnerSys said Wednesday its first-quarter net income rose 46 percent as sales improved across all regions including Europe, the Americas and Asia, outpacing commodity costs.

But the company offered a weak second-quarter forecast and its shares tumbled in extended trading.

EnerSys posted net incomefor the quarter ended July 3 of $33.5 million, or 66 cents per share, up from $23 million, or 47 cents, per share last year.

via EnerSys 1st-quarter net income jumps 46 percent – Business – Personal finance – Earnings –

National Penn Boosts Earnings

July 29, 2011 Leave a comment

“We believe the quarter was our best because we have been able to keep our focus on customers and our focus on maintaining strong fundamentals,” said Scott V. Fainor, president and chief executive officer. “The quarter was as clean and quality as it gets.”

via Reading Eagle – National Penn boosts earnings.

Fewer verbs and nouns in financial reporting could predict stock market bubble, study shows

July 24, 2011 Leave a comment

When the language used by financial analysts and reporters becomes increasingly similar the stock market may be overheated, say scientists.

via Fewer verbs and nouns in financial reporting could predict stock market bubble, study shows.

Banks are Facing New Regulations

July 17, 2011 Leave a comment

“Another indication of the changing regulatory environment took place during a May 17 confirmation hearing on the appointment of a new British financial watchdog, Donald Kohn. A former Fed vice chairman, Kohn told British lawmakers he had abandoned his belief that bankers’ self-interest would keep markets safe.

“Banker and regulator, Dimon and Kohn represent rival poles in the struggle to reconcile economic growth and financial stability. Their remarks really concerned the lessons of the worst financial crisis since the Great Depression – and the danger, say some, that those lessons already are being forgotten…”

From Bloomberg News via Reading Eagle Banks are facing new regulations.