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The Monday Express: North American financials


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The Monday Express: North American financials

* The Pennsylvania Department of Banking and Securitiesseized King ofPrussia, Pa.-based First CornerStone Bank; Raleigh, N.C.-based First-CitizensBank & Trust acquired the failed bank's deposits and assets.

* A former Wells Fargo employee is accusingthe bank of instructing call center workers to not disclose to customers aboutlost deeds or other missing documents, according to Reuters.

* Fifth Third Bancorp disclosed that nearly half of itsoutstanding energy portfolio, excluding power, was marked as in the first quarter.

* Colony Capital entered into exclusive negotiations with NorthStar Asset ManagementGroup and NorthStar Realty Finance based on a joint proposal from Colony andNorthStar Realty for a tri-party, all-stock "at the market" businesscombination based on historical trading prices.

* Realty Finance Trust has formed a special committeeconsisting of independent directors to explorepotential strategic transactions on behalf of the company.

* Allstate's catastrophe reinsurance program for itspersonal lines property and automobile businesses is for 2016.

* A report from the Government Accountability Officeindicates that the Capital Purchase Program under TARP has .

* The SEC is suing aPittsburgh, Pa.-based financial adviser for allegedly taking about $2.4 millionwithout permission from the accounts of several professional athletes in orderto invest in movie projects and make Ponzi-like payments.

* Derek Tyushas been named the new chief investment officer of West Bend Mutual Insurance.

The DailyDose: Express Edition is updated as of 6:30 a.m. ET. Some external links mayrequire a subscription.