Newspaper article St Louis Post-Dispatch (MO)

Morning Briefing

Newspaper article St Louis Post-Dispatch (MO)

Morning Briefing

Article excerpt

U.S. Banks Set Sizzling Pace For Profits

Bank profits swelled 7 percent in the second quarter to a record $12 billion, regulators said Tuesday, putting the industry on track for its fourth straight year of record earnings.

Earnings were fueled by strong loan demand, higher income from currency trading, relatively few problem assets, and higher earnings from various service fees.

The second quarter's profits were up from $11.2 billion a year earlier. The earnings pace puts banks on course to exceed the record $44.8 billion for all of 1994.

Reuters Boatmen's Loan Program Cuts SBA Paperwork

Boatmen's Bank is testing a streamlined Small Business Administration loan program targeted to businesses seeking less than $100,000.

The program lets the bank use its own procedures for making an SBA loan but limits the SBA's liability if the borrower defaults.

The "Fastrak" program is best suited for borrowers with good credit but limited collateral and earnings history, as well as customers looking for extended repayment terms.

Post-Dispatch Nabisco To Introduce Healthy Choice Snacks

The maker of the hot-selling SnackWell's brand plans to see if there is an appetite for another line of reduced-fat cookies that will be marketed under the Healthy Choice banner.

Nabisco Inc., the leader in the U.S. cookie market, said Tuesday it had obtained a license from ConAgra Inc. to use the Healthy Choice name for a new line of cookies and snacks it plans to introduce next year.

Nabisco already accounts for nearly half of the estimated $7 billion market for cookies and crackers.

Associated Press Minority Fair Begins

The St. …

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