Square 1 Bank holds more deposits in Raleigh-Durham than any other bank. Given that, they should be held to a high standard for their Community Reinvestment Act obligation. From a purely quantitative perspective, they have done what their regulators asked. But even a simple review of that track record shows that their impact has been minimal. Until PacWest shows that it can do better, the FDIC should block this merger.
You are here
There is a new movie out about my hometown and it has Durham all wrong.
Main Street uses Durham as a setting for a story about a group of people trying to make it in a struggling town. Here are a few ways that the script sets up Durham:
- "This city," says a voice over in the preview, "like many in America, has come to a
More home buyers are seeking mortgage loans backed by FHA guarantees.
I have been looking at lending patterns in my own community - Durham, North Carolina - and the 2009 numbers paint an interesting picture that suggests a dual marketplace. One group - white and Asian borrowers - continues to eschew the FHA program in favor of conventional loans. Another, made up almost entirely of African-American borrowers, is turning to the FHA program. What is more interesting is the extent to which the sudden switch is unaffected by borrower income. Even well-off African-Americans are flocking to FHA.
I ran a chi-square that sorted borrowers by their race or ethnicity and by their incomes. Incomes were separated