It may make sense in good times to show bank bond partfolios at historical cost, but when things turn sour. . .
IF YOU BELIEVE conventional accounting, Cleveland-based Centran, a bank holding company with $3.4 billion in assets, made a profit of $9.5 million in the 12 months ending in June. At least that's the word investors got in the company's income statement. But for those investors clever enough to scrutinize the interiors of financial parentheses, it... Read More