Wells Fargo & Co. on Friday joined the crowd of major banks cutting their dividends. The parent of St. Louis-based Wachovia Securities cut its dividend from 34 cents to 5 cents. That followed recent cuts by U.S. Bank, Bank of…
U.S. Bank slashed its dividend by 88 percent Wednesday citing “uncertainty in the financial markets and a weakening economy.”
CEO Richard K. Davis also noted the federal government’s growing emphasis on common equity as a measure of financial strength. Cutting the…
Uncle Sam is offering cheap funding, but Commerce Bank says no thanks. The bank, the largest run from St. Louis, said today that it won’t apply for a capital injection from the the Treasury Department’s Troubled Asset Relief Program, or TARP.
“Commerce’s earnings,…
