Newsflash Mar. 14, 2013
March 14, 2013
Twin Cities Business
Three locally-owned Twin Cities banks will be rebranded as one, allowing their parent company to expand offerings both here and nationally. St. Paul-based bank-holding company Sunrise Banks announced Monday that it will consolidate its three Twin Cities bank brands—Franklin Bank, Park Midway Bank, and University Bank—under the Sunrise brand, effective April 1. Sunrise has received regulatory clearance for the merger, and the combined bank will have more than $750 million in assets, eight Twin Cities branch locations, and an office in Sioux Falls, South Dakota. The consolidation comes shortly after Sunrise Chairman Bill Reiling transferred ownership of the business to David Reiling, his son and the company’s CEO. David Reiling, who has served as CEO of Sunrise since 2004, told Twin Cities Business that the ownership succession and bank consolidation plans had been a long time in the making, and the fact that they occurred around the same time was mostly coincidental. Apart from the new name, Sunrise’s local branches will see little change. But the consolidation is meant to allow Sunrise to increase its focus on national products, which will in turn generate capital and allow it to invest further in the Twin Cities, where it may eventually acquire additional banks, Reiling said. The consolidation will also help Sunrise focus on its mission of social responsibility, according to Reiling. Sunrise focuses on what he describes as “under-banked” customers and primarily serves urban communities. Increasing revenue through national products will allow it to reinvest in its Twin Cities operation and the community, he said.
The national law firm of Quarles & Brady LLP hosted a luncheon symposium, entitled “The Theology of Community Development: Building a 21st-Century Ministry,” at its Chicago offices on Monday, February 25. In attendance were ministers from some of the largest and most influential African- American churches in the city and surrounding area. The ministers and their staffs were part of the first in an ongoing series of meetings focusing on service to God through community development. Urban Partnership Bank and Urban Ministries partnered with Quarles & Brady for the informative luncheon meeting, the first of its kind offered by the firm, to add investment and planning intelligence to the law firm’s transactional knowhow.
Best Banks for Women? Examining the Banking Industry on International Women’s Day
The Office of the Comptroller of the Currency manages a directory of minority-owned financial institutions, including women-owned banks, as well as resources for learning more about these institutions that are often more sensitive to the specialized needs of the communities they serve.In fact, one of the OCC’s recommended resources is MinorityBank.com, which published a listing by Creative Investment Research, Inc. of the top five women- and minority-owned financial institutions, naming the Central Bank of Kansas City as the best bank for women. According to MinorityBank.com, the top five listing was compiled “using 2009 financial, demographic, HMDA and CRA information from a database maintained by Creative Investment Research.” The list was ultimately based on “social needs in the area the financial institution serves; responsiveness of the financial institution in meeting those social needs; and financial performance of the institution.”
Santa Clarita Valley International Charter Schools to Hold Dinner Honoring Key Contributor
Santa Clarita News
Santa Clarita Valley International Charter Schools (SCVi) is inviting the community to honor a key figure in their success at a benefit dinner March 16. Marti Heinbaugh, regional manager for Mission Valley Bank, has greatly helped SCVi offer students an interactive learning experience by convincing the bank to donate funding and offer her insight on the SCVi Board of Directors, said Carol Stevenson, a parents volunteer at SCVi. “She’s contributed through advocacy with her employer and vouching for the school,” Stevenson said. “Also on the board, she, like other members, has brought other perspectives and offers her experience.”
This position works nationally and reports to the Senior Underwriter, Financial Services to provide critical support to the Financial Services team, particularly in the delivery and management of a diverse set of financial products and services. The position entails client communication, financial analysis, market research, and data management. In addition the analyst assists in the preparation of reports and presentations and supports senior staff in a variety of functions related to delivery of financial products. The position may be based in either New York City at National Headquarters or Philadelphia, PA.
Opportunity Finance Network - Vice President, Policy (Philadelphia, PA)
The VP, Policy serves as OFN’s primary liaison to federal policy makers, representing the organization’s positions on issues affecting Community Development Finance Institutions (CDFIs) as well as responsible for developing and implementing OFN’s policy advocacy strategies. The VP, Policy represents OFN with national policy coalitions and other ally organizations and cooperates as part of the OFN Policy team to implement policy communications with OFN Members. The VP, Policy participates in national policy outreach through involvement in the OFN Annual Conference, OFN Regional Member meetings, and other CDFI policy leadership events. The VP will coordinate with other departments within OFN including Strategic Communications, Consulting, and Knowledge Sharing.
Greater Minnesota Housing Fund & Minnesota Equity Fund - Program Officer for Affordable Housing Finance (Twin Cities, MN)
This position is responsible for developing and maintaining relationships with affordable housing developers and determining the viability of multifamily and single-family real estate development projects located in Minnesota. The Loan Officer will be responsible for underwriting, financial structuring, and due diligence, as well as managing, servicing, and helping to close new loan requests and work directly with other professionals, including legal counsel, developers, lenders, and representative of other agencies and organizations in order to assess project viability and bring funded projects to closing. This position is heavily weighted towards financial analysis, deal structuring, and resolving legal and technical issues that requires knowledge and direct experience with affordable housing programs and tools. The Loan Officer reports to the Director of Lending and works closely with both Greater Minnesota Housing Fund financing programs and the Minnesota Equity Fund.
The CDBA Newsflash is a service of the Community Development Bankers Association (CDBA). For more information about other members and the work of CDBA please visit www.cdbanks.org. Or write to us at: 1444 I Street NW, Suite 201, Washington D.C., 20005 or firstname.lastname@example.org.
Contact Name: Dana Weinstein; email@example.com; 202-689-8935 x32