I really like entry 12 and entry 9. Would like to see the "TFR" and the "Financial Marketing" to be a bit bigger. I don't really care for the vertical lines between "TFR" in entry #9, but other than that, it's really good.
We are probably leaning towards a white background in the emblem, instead of a solid blue color, so that it's easier to use on shirts and hats (would require less thread than a blue blackground)