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The Friday Express: North American financials


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The Friday Express: North American financials

* A coalition of senators are calling on the Department of Justiceto open a criminal investigationagainst executives of Wells Fargo in the wake of its unauthorized account scandal.

* CIT Group is selling its aircraft leasing business to AvolonHoldings for $10 billion,offering a 6.7% premium on the leasing business' net asset value.

* The Fed has warnedGoldman Sachs about risks linked to a debt deal it arranged to finance the $4 billionUltimate Fighting Championship buyout, say sources for Bloomberg News.

* Treynor, Iowa-based TS Banking Group is Clinton, Ill.-based First NationalBank and Trust.

* OceanFirst Financial and its board are facing a related to the company'spending acquisition ofOcean City, N.J.-based Ocean Shore Holding.

* Under a hypothetical severely adverse scenario lasting ninequarters, M&T Bank Corp. projected that cumulative pre-provision net revenuewould total $2.6 billion over the course, resulting in a net loss of , pretax.Meanwhile, Discover Financial Services, under the same scenario, projected the totalrisk-based capital ratio of 14.3%, with a minimum ratio of 13.7% during the period.

* Following its request for a hearing before the Nasdaq Listing Qualifications Panel, FirstNBC Bank Holding receiveda 15-day stay of suspension, running through Oct. 20, from trading on the NasdaqGlobal Select Market.

* Origin Bancorp's board authorized a 2-for-1 split of the company's common stock.

* Following the resignation of James Paulus, UniBank for SavingsCFO William Mahoney willbecome interim president and CEOof the Whitinsville, Mass.-based bank, Banker& Tradesman reports.

* Chamois, Mo.-based Heritage Community Bank Eric Patke to CFO, Ed Stowe to COOand Andrew McElwain to chief lending officer and senior lender, emissourian.comreports.

* Greenville, S.C.-based GrandSouth Bank appointed James Schwierspresident and CEO, succeedingRonald Earnest.

* Blue Cross Blue Shield of Massachusetts Andreana Santangelo executive vicepresident and CFO, the Boston Business Journalreports.

* National General Holdings announced the approval of StandardMutual Insurance's conversion from a mutual company to a stock company named Standard Property & Casualty Insurance.

* A source for The WallStreet Journal says that Bain Capital's credit unit raised more than $500million in equity for its first business development company.

* Moody's affirmedJanus Capital's long-term senior debt rating and revised its outlook after the companyannounced plans to conduct an all-stockmerger with Henderson Group.

* The U.S. District Court for the Central District of Californiaentered a judgment and permanent injunctionagainst Cachet Financial Solutions relating to a trademark infringement lawsuitfiled against the company by Cachet Financial Services, formerly known as CachetBanq.

* And Accretive Health's board is seeking stockholder approvalfor a reverse stock splitof the company's outstanding common at a ratio in the range of 2-to-1 to 10-to-1.

The Daily Dose: Express Edition is updated as of 6:30 a.m.ET. Some external links may require a subscription.