Mellon First Business Bank

Susquehanna Bank has officially moved its corporate headquarters from Marlton, N.J., to the Camden Waterfront and now has plans to establish its first retail branch location in the area. The bank moved 50 employees to the $18 million Ferry Terminal Building, Camden's first privately financed office building in over 48 years. The proposed retail branch is in the newly renovated Victor Lofts apartment building situated diagonally across Delaware Avenue from the new corporate headquarters. It would become Susquehanna's eighth branch in Camden County. The move comes as the Pennsylvania Department of Banking has approved parent company Susquehanna Bancshares' $860 million acquisition of Community Banks Inc. of Harrisburg.

CitiBank's new Chestnut Hill branch is its 10th local site since entering the area a year ago and the New York-based bank has plans to add 12 more by the end of the year.

J.D. Power and Associates Reports: While Small Businesses are Particularly Profitable, Banks Struggle to Satisfy These ...

Banks struggle to satisfy small business customers, as these customers tend to be more difficult to please compared with the average retail banking customer, according to the J.D. Power and Associates 2007 Small Business Banking Study(SM) released today.

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Banking and Financial

A lot (perhaps too much) has been written about the wider implications of problems originating in the US associated with the practice of providing so-called sub-prime mortgages to high risk borrowers with poor credit histories. There is also plenty of speculation about the potential exposures for directors, banks and professional advisers.... .

(AFX UK Focus) 2007-11-16 19:09 GMT: Northern Rock CEO Applegarth resigns; Virgin, Olivant outline bids UPDATE

(Adds background, detail on bids)

LONDON (Thomson Financial) - Northern Rock PLC said its chief executive Adam Applegarth has resigned, but will continue as director and CEO throughout the second phase of the struggling bank's strategic review process, which is scheduled for completion no later than the end of January 2008.

The resignation came after Northern Rock reached its deadline for indicative bids for the bank, which was forced to seek emergency support from the Bank of England in September after this summer's global credit crunch.

Northern Rock has so far borrowed 25.3 bln stg from the BoE, according to an estimate from New Star Asset Management economist Simon Ward.

Two of the six to eight groups expected to bid for all or part of the group outlined some details of their proposals earlier today.

W. Covina may face deficits

WEST COVINA - A sales-tax slump and other woes could leave the city with a deficit of $7.5 million within the next few years.

According to a report before the City Council tonight, those budget pressures on the 2008-2010 budgets are also squeezing the 2007-08 budget.

"The budget's balanced, but whether the revenue predictions add up is a different story," said Finance Director Tom Bachman, who wrote the report.

"The sales tax predictions probably will not (add up). It's a matter of whether we can find other revenues," Bachman continued. "We've already directed departments to spend less than their budget allocations for this year to offset the expected shortfall in sales tax."

Sales taxes dropped in 2006-07 but were buoyed by rising property taxes, Bachman's report said.