texas home equity loan
Homeowners Insurance For 154,000 Texas Policyholders To Be Canceled
AUSTIN, Texas -- About 154,000 Texas homeowners must find a new insurance carrier after regulators started shutting down Texas Select Lloyds, the state's sixth-largest home insurer.
Texas Select did not have the ability to protect its policyholders and so their policies will be canceled by Aug. 23, according to the Texas Department of Insurance.
"My primary goal in this action is to ensure policyholders have insurance that is able to pay their claims should a loss occur," State Insurance Commissioner Mike Geeslin said in a news release Tuesday. "We simply could not allow policyholders and ultimately Texas taxpayers to be at risk given the financial condition of these companies."
Texas Select's parent company, Vesta Insurance Group of Birmingham, Ala., has been mired in financial trouble, especially after huge losses from hurricanes Katrina and Rita.
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Texas United Bancshares, Inc.; Second Quarter Earnings Up 59.2%
Texas United Bancshares, Inc. (NASDAQ: TXUI)
Second Quarter 2006 Highlights:
Texas United Bancshares, Inc. (NASDAQ: TXUI), a community banking organization and parent company of State Bank, La Grange, Texas, GNB Financial, n.a., Gainesville, Texas, Gateway National Bank, Dallas, Texas, and Northwest Bank, Roanoke, Texas, today reports record net earnings of $4.2 million for the second quarter ended June 30, 2006, an increase of $1.5 million or 59.2% compared with $2.6 million for the second quarter of 2005. Diluted earnings per share for the second quarter of 2006 were $0.39, an increase of $0.06 per diluted share or 18.2% compared with $0.33 per diluted share for the second quarter of 2005. Net earnings for the six months ended June 30, 2006 were $8.0 million, an increase of $2.5 million or 47.0% compared with $5.4 million for the same six months of 2005.