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Guaranty Financial in talks for recapitalization -source
Reuters ^
| 7/23/09
| Paritosh Bansal
Posted on 07/24/2009 2:21:18 PM PDT by Kartographer
Guaranty Financial Group Inc (GFG.N), the second-largest publicly traded bank in Texas, is in talks with at least one investor group for a possible recapitalization, a source familiar with the matter said on Friday.
(Excerpt) Read more at reuters.com ...
TOPICS: Business/Economy
KEYWORDS: bankcollapse
To: Kartographer
That would be good news, if true.
2
posted on
07/24/2009 2:23:31 PM PDT
by
VegasCowboy
("...he wore his gun outside his pants, for all the honest world to feel.")
To: Kartographer
Related per Bloomberg Carl Icahn is going to take a 'hit' on this one.
Link:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aJwZAT8GnmmI
3
posted on
07/24/2009 2:24:22 PM PDT
by
Kartographer
(".. we mutually pledge to each other our lives, our fortunes, and our sacred honor.")
To: Kartographer
Just read your link...this one will go through the FDIC. I can’t see anyone recapitalizing them directly.
4
posted on
07/24/2009 2:31:10 PM PDT
by
VegasCowboy
("...he wore his gun outside his pants, for all the honest world to feel.")
To: Kartographer
5
posted on
07/24/2009 3:05:26 PM PDT
by
blam
To: VegasCowboy
"Guaranty can’t raise capital demanded by regulators and will probably fail, according to a filing yesterday with the Securities and Exchange Commission. The Office of Thrift Supervision has taken over functions from the board, directed the bank to turn itself over to the Federal Deposit Insurance Corp. "
It seems the thing has already failed, it just has not been formally announced.
6
posted on
07/24/2009 3:13:07 PM PDT
by
org.whodat
(Vote: Chuck De Vore in 2012.)
To: org.whodat
Probably so...they’ve likely got one last chance to raise some capital on their own.
Given the size of the bank the regulators are probably trying to faciliate an assisted sale at the same time.
7
posted on
07/24/2009 3:37:31 PM PDT
by
VegasCowboy
("...he wore his gun outside his pants, for all the honest world to feel.")
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