Corporate treasury departments are going paperless, and sooner than you might think, according to a new survey of more than 200 treasury executives conducted by Citizens. In fact, 94 percent of respondents who use checks today expect their company to...
Read Story
|
Provident Financial Services, the parent company of Provident Bank, and Lakeland Bancorp, the parent company of Lakeland Bank, received regulatory approval from the Board of Governors of the Federal Reserve System for Provident and Lakeland to...
Read Story
|
U.S. Bank has teamed up with Levantor Capital to expand flexible working capital financing options for U.S. Bank clients.U.S. Bank offers a wide range of risk management and financing solutions to help firms improve their working capital along supply...
Read Story
|
MUFG announced that it has established a new Medium-term Business Plan (“MTBP”) for the three-year period beginning in FY2024, as outlined in the following press release.Since the three years of the COVID-19 pandemic, the business environment has...
Read Story
|
Royal Bank of Canada announced it has completed the acquisition of HSBC Bank Canada."Today marks one of the most exciting times of our 155-year history and a pivotal milestone in our long-term growth story as we welcome 4,500 employees and 780,000...
Read Story
|
MUFG Investor Services U.S., the U.S. asset servicing arm of Mitsubishi UFJ Financial Group, announced the launch of its professional services group. This move underscores the company's commitment to delivering unparalleled service and game-changing...
Read Story
|
KeyCorp announced a forward flow origination partnership with Blackstone Credit & Insurance focused on Key's Specialty Finance Lending (SFL) group. SFL is a leading asset-based lender serving clients nationally across middle market, growth capital...
Read Story
|
U.S. Bank has launched a new division dedicated to serving private capital firms and global asset managers.The Private Capital and Global Asset Management division brings together all parts of the bank that currently serve more than 200 private...
Read Story
February 22, 2024, 08:00 AM
|
Truist Financial Corporation reached a definitive agreement to sell its remaining stake in Truist Insurance Holdings ("TIH"), a subsidiary of Truist and the fifth largest insurance brokerage in the United States, to an investor group led by private...
Read Story
February 20, 2024, 07:28 AM
|
JPMorgan Chase announced new and increased responsibilities for a number of key executives that will build upon the company’s successes and continue to position the firm for the future.
Jennifer Piepszak, Co-Chief Executive Officer of Consumer and...
Read Story
January 26, 2024, 08:00 AM
|
Citi and LuminArx Capital announced the launch of Cinergy, a strategic financing vehicle in the rapidly growing private lending market. Launched by LuminArx Capital, Cinergy will offer a broad range of private credit solutions to companies, including...
Read Story
January 19, 2024, 08:00 AM
|
First Business Bank was selected as Winner in the category of Business Bank in the IB Executive Choice Awards.The IB Executive Choice Awards honor local business excellence in 38 business categories. Winners and finalists are selected by members of...
Read Story
December 28, 2023, 07:26 AM
|
Provident Financial Services, the parent company of Provident Bank, and Lakeland Bancorp, the parent company of Lakeland Bank, announced the two companies have agreed to extend their merger agreement to March 31, 2024, to provide additional time to...
Read Story
December 22, 2023, 07:35 AM
|
A notable increase in concerns over risk management and regulatory compliance issues headlines key challenges facing U.S. banks, credit unions and other lenders, according to the results of the 2023 Regulatory & Risk Management Indicator survey...
Read Story
December 12, 2023, 07:14 AM
|
Fifth Third has been named “Bank of the Year” for the U.S. 2023 by The Banker. This annual award program recognizes industry-wide excellence within the global banking community.“Congratulations to Fifth Third Bank for outshining the competition to...
Read Story
December 01, 2023, 08:02 AM
|
Cadence Bank closed the previously disclosed sale of its insurance operations, Cadence Insurance, Inc., to Arthur J. Gallagher & Co. for $904 million in cash, subject to customary purchase price adjustments. The transaction strategically positions...
Read Story
December 01, 2023, 07:09 AM
|
TD Bank Group announced the appointment of Alan MacGibbon as Chair of the Board of Directors, effective February 1, 2024. MacGibbon will succeed Brian Levitt, who will also retire from the Board following the Bank's annual meeting of shareholders on...
Read Story
November 30, 2023, 07:38 AM
|
Wells Fargo announced its formal plans to expand its Hudson Yards office footprint and create a better, more collaborative employee experience with the purchase of additional space at Hudson Yards. This transaction represents a significant investment...
Read Story
November 28, 2023, 07:40 AM
|
Banc of California and PacWest Bancorp jointly announced that, at their respective special meetings of stockholders, they each received the necessary stockholder approval for the proposed combination of Banc of California and PacWest. The final...
Read Story
November 27, 2023, 08:05 AM
|
Funding Circle announced Customers Bank is expanding its digital SMB lending capabilities through Funding Circle’s embedded Lending as a Service (LaaS) platform.The agreement allows Customers Bank to embed Funding Circle's end-to-end digital lending...
Read Story
November 14, 2023, 07:00 AM
|
Associated Banc-Corp announced plans for the next phase of the company's people-led, digitally enabled strategic plan. These plans include a series of investments in people, products and technology intended to grow and remix the loan portfolio...
Read Story
November 10, 2023, 07:58 AM
|
Small business loan approval percentages at big banks ($10 billion+ in assets) decreased again from 13.1% in September to 13% in October, according to the latest Biz2Credit Small Business Lending Index released.“Small business lending has been on a...
Read Story
November 09, 2023, 07:45 AM
|
Versana announced that industry veterans Christine Scaffidi and Christopher Fonte have joined the company as Head of Product and Head of Sales, respectively, reporting directly to Cynthia Sachs, Founding CEO. Each brings decades of valuable banking...
Read Story
November 09, 2023, 07:35 AM
|
Horizon Bank announced the formation of a new equipment finance division to be led by Joel Mikolich as the division President. The new division will provide business equipment financing solutions to small and medium sized businesses nationwide, while...
Read Story
October 31, 2023, 07:00 AM
|
Wells Fargo announced that its Vice Chairman, Thomas R. Nides, has decided to leave the company to return his attention to events in the Middle East. Nides joined the company in September after retiring in July as U.S. Ambassador to Israel, a post he...
Read Story
October 30, 2023, 08:00 AM
|
Old National Bancorp and CapStar Financial Holdings, Inc. jointly announced they have entered into a definitive merger agreement for Old National to acquire CapStar in an all-stock transaction. Combining the two organizations will strengthen Old...
Read Story
October 30, 2023, 07:35 AM
|
Republic Bank & Trust Company has been named to Newsweek’s Best Online Lenders in America 2024 list in multiple categories. The rankings, a collaboration between Newsweek and Lending Tree, named Republic in five different loan types across two...
Read Story
October 30, 2023, 07:00 AM
|
Merchants Financial Group announced year-to-date net income through the third quarter of $20.1 million according to MFGI President & CEO Gregory M. Evans.As a result of continued strong performance, the MFGI Board of Directors authorized a semiannual...
Read Story
October 27, 2023, 06:00 AM
|
Cadence Bank entered into a definitive agreement to sell its insurance operations, Cadence Insurance, Inc., to Arthur J. Gallagher & Co. for $904 million in cash1. Key Highlights:
Sale of Cadence Insurance, Inc., the second largest bank-affiliated...
Read Story
October 25, 2023, 07:55 AM
|
Santander Bank recently unified its commercial & industrial business and its commercial real estate & vehicle financing business into one Commercial Bank in the United States under the leadership of Michael Lee. Lee joined Santander in 2009, and most...
Read Story
October 20, 2023, 08:00 AM
|
Citizens Financial Group announced the national launch of Citizens Private Bank, a significant milestone in Citizens’ long-term strategy to accelerate growth in Wealth Management, improve capabilities in the high-net-worth segment and expand in key...
Read Story
October 20, 2023, 07:53 AM
|
Banc of California and PacWest Bancorp announced that the Board of Governors of the Federal Reserve System granted its approval of the previously announced combination of Banc of California and PacWest and their respective bank subsidiaries, Banc of...
Read Story
October 20, 2023, 07:30 AM
|
First Citizens announced leadership changes in its Community Association Banking business - including naming Nick Mirabal as its new head of Association Banking and expanding the roles of several leaders - to drive continued collaboration and synergy...
Read Story
October 20, 2023, 07:00 AM
|
Laurentian Bank announced new appointments and expanded mandates for its leadership team to deliver on the Bank's renewed focus to be closer and more accountable to its customers. These appointments are also the outcome of the Bank's formal...
Read Story
October 16, 2023, 07:45 AM
|
The biggest US banks are poised to write off more bad loans than they have since the early days of the pandemic as higher-for-longer interest rates and a potential economic downturn are putting borrowers in a bind, according to a Bloomberg report....
Read Story
October 11, 2023, 08:05 AM
|
Small business loan approval percentages at big banks ($10 billion+ in assets) fell again, dropping from 13.2% in August to 13.1% in September, according to the latest Biz2Credit Small Business Lending Index released today. Big bank lending to small...
Read Story
October 11, 2023, 07:00 AM
|
Citi as agreed to sell its onshore consumer wealth portfolio in China, including clients, assets under management (AUM) and deposits to HSBC Bank China. HSBC plans to extend offers to in-scope employees supporting Citi's local consumer wealth...
Read Story
October 10, 2023, 07:30 AM
|
Green Dot Corporation, a leading digital bank and fintech committed to powering consumers and businesses with seamless and affordable banking and payment tools, appointed Michelleta (“Mich”) Razon to its Board of Directors, effective immediately.“Ms....
Read Story
October 09, 2023, 07:00 AM
|
As South Florida’s banking landscape sees heightened demand amidst an influx of businesses, residents, and capital, Banesco USA, a community bank with over $3.57 billion in assets, is enhancing its commercial and industrial (“C&I”) and residential...
Read Story
October 06, 2023, 07:09 AM
|
PNC Bank has acquired a portfolio of capital commitments facilities from Signature Bridge Bank through an agreement with the Federal Deposit Insurance Corporation ("FDIC") as Receiver. The transaction closed Oct. 2, 2023. The FDIC established...
Read Story
October 04, 2023, 08:00 AM
|
First Citizens Bank is extending its brand to cover numerous commercial business verticals that previously fell under First Citizens' CIT division. This effort represents another major step towards First Citizens fully integrating CIT since its 2022...
Read Story
October 03, 2023, 07:05 AM
|
Manufacturers Bank, a subsidiary of SMBC Americas Holdings, Inc., a member of SMBC Group, announced that it will be changing its name to SMBC MANUBANK as it expands into new markets and industries, and highlighting its decades-long affiliation with...
Read Story
September 29, 2023, 07:36 AM
|
WSFS Financial Corporation announced its Global Capital Markets team’s expansion into the Collateralized Loan Obligations (CLO) market. To support this expansion, the Company is adding new team members with expertise in CLOs."We are excited to expand...
Read Story
September 28, 2023, 07:58 AM
|
Centerbridge Partners and Wells Fargo & Company announced they are entering into a strategic relationship focused on direct lending to non-sponsor North American middle market companies. To meet the alternative credit needs of this segment...
Read Story
September 27, 2023, 08:15 AM
|
Standard Chartered Americas entered a trade finance partnership with Truist Bank that will enhance Truist clients’ ability to conduct global business.Through this strategic partnership, Truist Bank and Standard Chartered aim to create a seamless and...
Read Story
September 21, 2023, 07:49 AM
|
Cambridge Bancorp, the parent company of Cambridge Trust Company, and Eastern Bankshares, Inc., the stock holding company for Eastern Bank, announced they have entered into a definitive merger agreement pursuant to which Cambridge will merge with and...
Read Story
September 20, 2023, 07:45 AM
|
Citizens Financial Group announced a $50 billion Sustainable Finance Target including $5 billion in green financing, by 2030. The company also announced that it will engage corporate clients in high-emitting sectors on climate-related topics. To...
Read Story
September 20, 2023, 07:37 AM
|
Stearns Bank has acquired a majority stake in Contract Capital Corporation (CCC). CCC provides specialized financing services to Managed Service Providers (MSPs). In addition to Stearns Bank acquiring a majority interest in CCC, Stearns Bank is...
Read Story
September 15, 2023, 07:40 AM
|
U.S. Bank announced a new cross-business initiative to serve healthcare practices with up to $25 million in annual revenue. Newly appointed Head of Healthcare Business Banking Joe Persichetti will lead this effort, working with teams across banking...
Read Story
September 15, 2023, 07:22 AM
|
Citi announced significant changes to its organizational model that will fully align its management structure with its business strategy and simplify the bank. The new, flatter structure elevates the leaders of Citi’s five businesses and eliminates...
Read Story
September 14, 2023, 08:08 AM
|
On Sept. 6, 2023, United States District Judge Eldon E. Fallon sentenced Ashton J. Ryan, Jr., age 75, of Kenner, LA, to a term of imprisonment of 170 months following Ryans convictions for bank fraud and making false statements in bank records...
Read Story
September 12, 2023, 07:34 AM
|
First Horizon Corp. earned its place on the Forbes list of Best-in-State Employers 2023. This recognition is presented by Forbes and Statista Inc.America's Best-in-State Employers 2023 were identified based on 2.1 million employer recommendations...
Read Story
September 08, 2023, 07:45 AM
|
PB Financial Corporation, the holding company for Providence Bank, and Coastal Bank & Trust jointly announce the signing of a definitive strategic merger agreement. In the 75 percent stock and 25 percent cash transaction, Coastal will merge into...
Read Story
September 05, 2023, 07:41 AM
|
Bluevine announced expanded FDIC insurance coverage of up to $3 million through Coastal Community Bank, Member FDIC, and program banks in a sweep network, automatically offering Bluevine account holders coverage of up to 12x the industry standard of...
Read Story
September 05, 2023, 07:00 AM
|
HSBC announced that HSBC Innovation Banking, a business division with services provided by HSBC Bank USA and its affiliates, has expanded its venture debt offering in the U.S. to support companies from Series A through scaled multi-national...
Read Story
August 25, 2023, 07:54 AM
|
PNC FIG Advisory, part of PNC Capital Markets announced an expansion to its client offerings through the introduction of PNC Asset Exchange, an online loan resource and marketplace for financial institutions. PNC Asset Exchange is powered by...
Read Story
August 17, 2023, 07:52 AM
|
First Horizon Corp. has been recognized by Forbes Magazine as one of America's Best Large Employers. Forbes partnered with the market research firm Statista to compile a list of America's Best Large Employers. The ranking is based on a survey of...
Read Story
August 10, 2023, 07:56 AM
|
According to a Reuters report, Moody's cut credit ratings of several small to mid-sized U.S. banks on Monday and said it may downgrade some of the nation's biggest lenders, warning that the sector's credit strength will likely be tested by funding...
Read Story
August 09, 2023, 07:48 AM
|
Cadence Bank announced its support for local Boys and Girls Clubs (Club) through a series of volunteering initiatives taking place from July 24, 2023 through August 4, 2023, across the Southeast. As part of the bank's commitment to community...
Read Story
August 03, 2023, 07:10 AM
|
TIAA has completed the sale of TIAA Bank to private investors with extensive experience in financial services. The close of the transaction begins a new, independent chapter for the bank, now operating as EverBank, N.A. under a new national bank...
Read Story
August 02, 2023, 07:45 AM
|
Bank regulatory agencies requested comment on a proposal to increase the strength and resilience of the banking system. The proposal would modify large bank capital requirements to better reflect underlying risks and increase the consistency of how...
Read Story
|
Banc of California and PacWest Bancorp announced the signing of a definitive agreement pursuant to which the companies will combine in an all-stock merger transaction. Under the terms of the agreement, which was unanimously approved by the boards of...
Read Story
|
Atlantic Union Bankshares Corporation (Atlantic Union) and American National Bankshares Inc. (American National) jointly announced they have entered into a definitive merger agreement for Atlantic Union to acquire American National in an all-stock...
Read Story
|
Peapack-Gladstone Financial Corporation, Peapack-Gladstone Bank and Peapack Private, announced expansion plans with the official filing of an application to open a location in New York City. Peapack Private is actively recruiting from the Tri-State...
Read Story
|
Customers Bank, the $21 billion asset subsidiary of Customers Bancorp, completed the onboarding of a nearly 30-member venture banking team formerly employed by Signature Bank. Initially, this team will handle the transfer and servicing of about 150...
Read Story
|
Shore Bancshares, the financial holding company of Shore United Bank (Shore United), and The Community Financial Corporation (TCFC), the bank holding company of Community Bank of the Chesapeake (CBC), announced the closing of their previously...
Read Story
|
St. Louis, MO-based Commercial Industrial Finance, Inc. (CIF) became Republic Bank Finance effective July 1, coinciding with the final merger of the two companies. CIF was acquired by Republic Bank & Trust Company and its parent company Republic...
Read Story
|
United Community Banks completed its merger with First Miami Bancorp effective July 1. In this transaction, First Miami’s bank subsidiary, the First National Bank of South Miami (FNBSM), was also merged into United’s bank subsidiary, United Community...
Read Story
|
Byline Bancorp, the parent company of Byline Bank, announced it has completed its merger with Inland Bancorp and its wholly owned bank subsidiary, Inland Bank and Trust. As a result of the transaction, effective July 1, Inland Bank and Trust merged...
Read Story
|
Ares Management Corporation announced that certain funds managed by its Alternative Credit strategy have completed the acquisition of a $3.5 billion specialty finance loan portfolio from PacWest Bancorp.The Portfolio consists of high quality, senior...
Read Story
|
TIAA Bank announced it will become EverBank.The return of the EverBank name brings with it a tradition of partnership, reliability and trust, as the bank transitions to new ownership and renews its long-standing commitment to provide a financial...
Read Story
|
SVB Financial Group entered into a definitive purchase agreement with the management team bidder group led by Jeff Leerink, SVB Securities' Chief Executive Officer and Founder, and backed by funds managed by The Baupost Group L.L.C., for the sale of...
Read Story
|
Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and over $6 billion in assets, today announced that it has invested $1 million in Healthy Neighborhoods Equity Fund II (HNEF II). Developed by Massachusetts...
Read Story
|
UBS has completed the acquisition of Credit Suisse, crossing an important milestone. Credit Suisse Group AG has been merged into UBS Group AG and the combined entity will operate as a consolidated banking group.It marks the last trading day of Credit...
Read Story
|
Citizens Financial Group significantly accelerated its private banking growth strategy with the addition of approximately 50 new senior private bankers and related support staff in Boston, Florida, New York and San Francisco. Several sought-after...
Read Story
|
Five Star Bancorp and its wholly owned subsidiary, Five Star Bank has expanded into San Francisco to seize market opportunities.The Company is leveraging an existing team of proven Bay Area professionals led by DJ Kurtze, Five Star Bank’s San...
Read Story
|
First Citizens Bank announced that Marc Cadieux, a 30-year veteran of Silicon Valley Bank (SVB), has been appointed President of Silicon Valley Bank's commercial banking business. Based in the California Bay Area, Cadieux leads an SVB Commercial team...
Read Story
|
According a Wall Street Journal report, U.S. regulators are preparing to tighten rules for large banks, which could raise their capital requirements by 20% on average.The Wall Street Journal reported regulators are on track to propose the changes as...
Read Story
|
Peoples Bancorp elected W. Glenn Hogan to the Peoples Board of Directors. He also joined the Board of Directors of Peoples' banking subsidiary, Peoples Bank. Mr. Hogan, 61, formerly served as Chairman of the Board of Directors of Limestone Bancorp...
Read Story
|
Reuters reported that First Citizens BancShares, which acquired Silicon Valley Bank, is suing HSBC Holdings PLC accusing it of poaching more than 40 employees in order to launch its own U.S. venture banking business. In the lawsuit, First Citizens...
Read Story
|
Mid Penn Bancorp announced its acquisition of Brunswick Bancorp was completed. In connection with the holding company merger, Brunswick’s banking subsidiary, Brunswick Bank &Trust Company, has been merged with and into Mid Penn’s subsidiary bank, Mid...
Read Story
|
The April 2023 Senior Loan Officer Opinion Survey on Bank Lending Practices (SLOOS) addressed changes in the standards and terms on, and demand for, bank loans to businesses and households over the past three months, which generally correspond to the...
Read Story
|
Oxford Bank Corporation, the holding company for Oxford Bank, awarded small business grants to four local businesses in Michigan through the Federal Home Loan Bank of Indianapolis Elevate Grant program. Elevate is an innovative grant program that...
Read Story
|
TD Bank Group and First Horizon Corporation have entered into a mutual agreement to terminate their previously announced merger agreement, originally announced on February 28, 2022. TD informed First Horizon that TD does not have a timetable for...
Read Story
|
In light of recent reporting regarding strategic actions, PacWest Bancorp issued the following update:Our message remains consistent with what was conveyed last week with earnings. As previously announced, the Company has explored strategic asset...
Read Story
|
Citizens Financial Group announced that Brendan Coughlin, Head of Consumer Banking, and Beth Johnson, Chief Experience Officer and Head of ESG, have been named Vice Chairmen. They join Don McCree, Head of Commercial Banking, and John Woods, Chief...
Read Story
|
JPMorgan Chase acquired the substantial majority of assets and assumed the deposits and certain other liabilities of First Republic Bank from the Federal Deposit Insurance Corporation (FDIC). In carrying out this transaction, JPMorgan Chase is...
Read Story
|
Federal Deposit Insurance Corporation (FDIC) Chief Risk Officer Marshall Gentry released FDIC’s Supervision of Signature Bank, an internal review evaluating the agency’s supervision of Signature Bank, New York, New York, from 2017 until its failure...
Read Story
|
U.S. Bank is introducing a new Business Diversity Lending Program that will expand the ability of diverse business owners to obtain capital, building upon the bank’s broader efforts to support under-represented businesses and help address the wealth...
Read Story
|
Bloomberg reported PacWest Bancorp is exploring a sale of its lender finance arm, according to people familiar with the matter. The California-based bank is working with a financial adviser to solicit interest in the business, said the people, who...
Read Story
|
The Federal Reserve Board announced its approval for UBS Group AG, of Zürich, Switzerland, to acquire the U.S. subsidiaries of Credit Suisse Group AG, of Zürich, Switzerland.The application was submitted in connection with UBS Group AG's...
Read Story
|
Bloomberg reported U.S. bank lending contracted significantly in the last two weeks of March, indicating a tightening of credit conditions. According to the Bloomberg report, commercial bank lending declined nearly $105 billion in the two weeks ended...
Read Story
|
Regions Bank announced the launch of its International Subsidiaries Banking Group, a dedicated team focused on delivering financial insights and customized banking services to subsidiaries of international corporations operating in the United...
Read Story
|
First-Citizens Bank & Trust Company, a subsidiary of Raleigh-headquartered First Citizens BancShares, Inc. entered into an agreement with the Federal Deposit Insurance Corporation (FDIC) to purchase out of FDIC receivership substantially all loans...
Read Story
|
Stifel Financial Corp. announced a significant expansion of its business serving growth companies in the venture community through the addition of three key partners formerly with Silicon Valley Bank, (“SVB”). Jake Moseley, Matt Trotter, and Ted...
Read Story
|
SVB Financial Group filed a voluntary petition for a court-supervised reorganization under Chapter 11 in the United States Bankruptcy Court for the Southern District of New York to preserve value.SVB Securities and SVB Capital's funds and general...
Read Story
|
UBS announced it plans to acquire Credit Suisse. The combination is expected to create a business with more than $5 trillion in total invested assets and sustainable value opportunities. It will further strengthen UBS’s position as the leading...
Read Story
|
New York Community Bancorp, Inc. announced its bank subsidiary, Flagstar Bank, N.A. (the "Bank") has acquired certain assets and assumed certain liabilities of Signature Bridge Bank ("Signature") from the Federal Deposit Insurance Corporation (the...
Read Story
|
Bank of America, Citigroup, JPMorgan Chase and Wells Fargo announced they are each making a $5 billion uninsured deposit into First Republic Bank. Goldman Sachs and Morgan Stanley are each making an uninsured deposit of $2.5 billion, and BNY-Mellon...
Read Story
|
While the recent and sudden deterioration of several U.S. banks has been most impactful to the depositors, shareholders and lenders to these institutions, non-bank financial institutions, insurance companies and funds have experienced a variety of...
Read Story
|
Oxford Bank Corporation, the holding company for Oxford Bank, announced the appointment of two executive leaders, Michael ("Mick") Goik, President, Oxford Commercial Finance and Matthew Lowman, Oxford Bank Executive Vice President, and Chief Risk...
Read Story
|
Bloomberg reported that Moody’s Investors Service placed First Republic Bank and five additional U.S. lenders on review for downgrade following the collapse of Silicon Valley Bank.According to the Bloomberg report, Western Alliance Bancorp., Intrust...
Read Story
|
First Citizens Bank announced that its Middle Market Banking group is expanding yet again – this time to better support the financial needs and goals of midsize businesses in the Midwest and South Central U.S. First Citizens Middle Market Banking has...
Read Story
|
Signature Bank, New York, NY, was closed on March 12th by the New York State Department of Financial Services, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect depositors, the FDIC transferred all the deposits...
Read Story
|
On March 1, First Citizens Bank celebrated its 125th year of delivering long-term value and excellent service to clients and strong results to shareholders. First Citizens is recognizing this significant service milestone with a celebration...
Read Story
|
U.S. Bank has added portfolio optimization capabilities to its Pivot client platform, giving collateralized loan obligation (CLO) clients comprehensive insights for faster and more effective trading. Using a set of criteria selected by the client...
Read Story
|
BMO Financial Group and BNP Paribas announced a long-term commercial agreement and new cross-border framework to enhance coverage and access to a global network for their commercial banking clients. They will also enter into a comprehensive leasing...
Read Story
February 22, 2023, 07:51 AM
|
Customers Bank announced the launch of a new Loan Syndications Banking Team, expanding the bank’s lending services for middle market businesses and lead deals to support the bank’s existing and future national lines of business.The Loan Syndications...
Read Story
February 17, 2023, 07:55 AM
|
TD Bank Group and First Horizon Corporation have mutually agreed to extend the outside date of their proposed transaction from February 27 to May 27, 2023, in accordance with the terms of the merger agreement.TD and First Horizon are fully committed...
Read Story
February 10, 2023, 07:53 AM
|
First Citizens Bank announced its Middle Market Banking business is launching a business-focused webinar series to provide a range of expert insight to owners, executives, service providers and others engaged with middle market companies.The first...
Read Story
February 08, 2023, 07:13 AM
|
BMO Financial Group, and its subsidiaries BMO Financial Corp. and BMO Harris Bank N.A. (together, "BMO"), announced it has completed the acquisition of Bank of the West from BNP Paribas.BMO's acquisition of Bank of the West brings nearly 1.8 million...
Read Story
February 02, 2023, 07:55 AM
|
BMO Financial Group, and its subsidiaries BMO Financial Corp. and BMO Harris Bank (together, "BMO"), received all regulatory approvals required to complete its acquisition of Bank of the West from BNP Paribas. BMO anticipates the acquisition will...
Read Story
January 18, 2023, 08:00 AM
|
Washington Federal reports that on Jan. 2, 2023, the President and CEO of Washington Federal, Inc. and Washington Federal Bank (dba WaFd Bank), Brent Beardall, was one of four people on board a private plane that crashed in Provo, UT shortly after...
Read Story
January 06, 2023, 07:41 AM
|
Brookline Bancorp, Inc. received the requisite regulatory approvals from the Board of Governors of the Federal Reserve System, New York State Department of Financial Services and Massachusetts Board of Bank Incorporation necessary to complete its...
Read Story
January 03, 2023, 07:47 AM
|
The First Bancshares, Inc., the holding company for The First Bank, and Heritage Southeast Bancorporation, Inc. (HSBI), the holding company for Heritage Southeast Bank, announced the previously announced merger between First Bancshares and HSBI...
Read Story
January 03, 2023, 07:03 AM
|
Farmers National Banc Corp., the holding company for The Farmers National Bank of Canfield, completed the merger of Emclaire Financial Corp., the holding company for The Farmers National Bank of Emlenton (“Emlenton Bank”) with and into FMNB Merger...
Read Story
January 03, 2023, 06:00 AM
|
St. Petersburg, FL-based BayFirst National Bank – the wholly owned subsidiary of BayFirst Financial Corp.– has promoted Anthony Perez to Senior Vice President and Tampa Market Executive. He rounds out a team that also includes recently hired Pinellas...
Read Story
December 29, 2022, 07:06 AM
|
Seattle-based First Sound Bank announced it has reached a mutual agreement with BM Technologies, Inc. (BMTX) to terminate its previously announced merger agreement. The Bank will continue to do business as a locally owned, independent community bank...
Read Story
December 29, 2022, 07:05 AM
|
Wilmington Trust, a leader in wealth management and corporate and institutional services and a wholly-owned subsidiary of M&T Bank Corporation, announced an agreement with Madison Dearborn Partners, LLC ("MDP"), a leading private equity firm based in...
Read Story
December 20, 2022, 08:00 AM
|
Keeping pace with the volume, scope and breadth of regulatory changes tops the list of key concerns facing U.S. banks, credit unions, and other lenders, according to the results of Wolters Kluwer’s latest Regulatory & Risk Management Indicator survey...
Read Story
December 16, 2022, 07:30 AM
|
Axiom Bank has launched a new Commercial Finance Division headquartered in Dallas, TX. The new division will service businesses seeking Asset Based Lending, Factoring, and Equipment Financing credit facilities ranging from $2 million and greater and...
Read Story
December 14, 2022, 08:01 AM
|
F.N.B. Corporation successfully completed its acquisition of Greenville, North Carolina-based UB Bancorp, including its wholly-owned banking subsidiary, Union Bank (Union).As a result of the acquisition of Union, FNB has nearly $44 billion in total...
Read Story
December 13, 2022, 07:45 AM
|
Summit Financial Group and PSB Holding Corp. announce the signing of a definitive merger agreement between Summit and PSB.Subject to the terms of the merger agreement, PSB shareholders will receive 1.2347 shares of Summit common stock for each...
Read Story
December 13, 2022, 07:45 AM
|
Northeast Bank announced that since September 30, 2022, the Bank has purchased or entered into agreements to purchase primarily commercial real estate loans in the amount of unpaid principal balance of up to $1.16 billion. The Bank’s commercial real...
Read Story
December 09, 2022, 07:38 AM
|
Citizens Financial Group has been named Bank of the Year 2022 for the U.S. by The Banker, an outlet of The Financial Times, as part of the magazine’s annual global banking awards.In announcing the award, the magazine noted Citizens’ successful growth...
Read Story
December 07, 2022, 08:00 AM
|
Wells Fargo has unveiled Vantage, a new digital banking platform for Commercial Banking and Corporate & Investment Banking clients. Previously known as the Commercial Electronic Office – or CEO Portal – Vantage offers enhanced features to drive a...
Read Story
December 06, 2022, 07:00 AM
|
U.S. Bancorp completed the acquisition of MUFG Union Bank’s core regional banking franchise from Mitsubishi UFJ Financial Group, Inc. The transaction brings together two premier organizations to serve customers and communities across California...
Read Story
December 02, 2022, 08:00 AM
|
Newtek Business Services Corp. received conditional approval from Office of the Comptroller of the Currency (“OCC”) to complete its acquisition of the National Bank of New York City. Newtek announced last week that it received approval from the...
Read Story
December 02, 2022, 07:30 AM
|
The Commercial Bank of TD Bank made a $5 million equity investment in Citizens Trust Bank in Atlanta, Ga., to help expand opportunities for minority businesses as it eyes further expansion into the region. Citizens Trust Bank is a black-owned...
Read Story
December 01, 2022, 05:00 AM
|
HSBC Holdings plc announced its wholly owned subsidiary, HSBC Overseas Holdings (UK) Limited, has entered into an agreement to sell its banking business in Canada (HSBC Canada) to Royal Bank of Canada (RBC), subject to regulatory and governmental...
Read Story
November 29, 2022, 08:07 AM
|
Jude Melville, President and CEO of b1BANK, announced N. Jerome “Jerry” Vascocu, Jr. as Chief Administrative Officer for Business First Bancshares, Inc. and b1BANK. Vascocu will be the first Chief Administrative Officer for the bank. He has over 27...
Read Story
November 23, 2022, 07:00 AM
|
Bell Bank announces the launch of Bell Business Credit, a national specialty lending team providing asset-based lending and factoring services ideally suited for working capital intensive companies that generate $2 million to $120 million in annual...
Read Story
November 17, 2022, 08:00 AM
|
California Bank of Commerce (CBC) has formed a new division to focus on existing specialty lines of business. The division will look to expand both credit and treasury solutions to the Bank’s commercial markets. Known as CBC Specialty Banking, the...
Read Story
November 16, 2022, 08:00 AM
|
First Citizens Bank announced that its CIT Bank division has completed its conversion of its branches to First Citizens’ operations and systems. This conversion integrates CIT Bank branch customer accounts into First Citizens products and...
Read Story
November 15, 2022, 07:10 AM
|
Washington Federal, Inc. and Luther Burbank Corporation jointly announced the signing of a definitive merger agreement pursuant to which Washington Federal will acquire Luther Burbank and its wholly-owned subsidiary, Luther Burbank Savings, in an all...
Read Story
November 14, 2022, 08:00 AM
|
Aligning with a long-term strategic plan to refocus on the company’s retirement business and Nuveen, its asset manager, TIAA has entered into a definitive agreement to sell TIAA Bank to new investors with extensive experience in financial services....
Read Story
November 07, 2022, 08:00 AM
|
In the 16 months between two U.S. Bank CFO surveys, finance leaders faced a wave of new challenges, from high inflation to the effects of the war in Ukraine. The 2022 U.S. Bank CFO Insights Report found that finance leaders’ priorities have shifted...
Read Story
November 01, 2022, 08:00 AM
|
Republic Bancorp, the parent company of Republic Bank & Trust Company, and Cincinnati-based CBank announced the signing of an Agreement and Plan of Merger under which Republic will acquire CBank and its wholly-owned subsidiary, Commercial Industrial...
Read Story
October 28, 2022, 07:49 AM
|
Cadence Bank announced the launch of its new brand identity and corporate website, underscoring its continued commitment to helping people, companies and communities prosper and delivering on its brand promise of creating ease for customers.The...
Read Story
October 19, 2022, 07:47 AM
|
U.S. Bancorp has received all required U.S. regulatory approvals to complete the previously announced acquisition of MUFG Union Bank’s core regional banking franchise from Mitsubishi UFJ Financial Group, including approvals from the Board of...
Read Story
October 17, 2022, 08:02 AM
|
First Citizens Bank announced the expansion of its Middle Market Banking unit to support the financial needs and goals of midsize businesses across Southern California and the Southwest region. The expansion follows the official launch of First...
Read Story
October 12, 2022, 08:02 AM
|
The American Bankers Association Foundation named Pathward, formerly known as MetaBank, a winner of its 2022 Community Commitment Award. The award recognizes Pathward’s Community Impact Program in the Volunteerism category. The Foundation presented...
Read Story
October 12, 2022, 06:00 AM
|
Seacoast Banking Corporation of Florida, the holding company for Seacoast National Bank, announced the completion of its acquisitions of Apollo Bancshares, Inc. (Apollo), parent company of Apollo Bank and of Drummond Banking Company (Drummond)...
Read Story
October 10, 2022, 07:21 AM
|
American Banker has recognized U.S. Bank leaders in its 2022 Most Powerful Women in Banking, naming vice chairs Gunjan Kedia and Kate Quinn and senior vice president Vanessa Angeles among 75 individual honorees.Kedia, a vice chair and member of the...
Read Story
October 07, 2022, 07:27 AM
|
Signature Bank, a New York-based full-service commercial bank, announced expansion of its West Coast presence with the appointment of veteran banking professionals and the opening of a new private client banking office in Reno, NV.Signature Bank is...
Read Story
October 07, 2022, 07:24 AM
|
American Banker announced the 2022 honorees of The Most Powerful Women in Banking™. Now celebrating its 20th anniversary, the program recognizes individuals and teams for demonstrating exceptional leadership skills, strong performance and a...
Read Story
October 06, 2022, 07:38 AM
|
The PNC Financial Services Group has acquired Linga, a point of sale (POS) and payments solutions firm providing an industry-leading, cloud-based restaurant operating system. The acquisition of Linga and its technology will further expand PNC's...
Read Story
September 27, 2022, 07:00 AM
|
Huntington National Bank celebrates the grand opening of Detroit's Huntington Tower, located at 2025 Woodward Avenue. The new tower is located in the heart of The District Detroit, a world-class, mixed-use sports and entertainment district emerging...
Read Story
September 22, 2022, 07:10 AM
|
Fifth Third Bank has launched its Mortgage Warehouse Finance business to meet the needs of independent mortgage bankers. As one of the largest regional banks in the U.S., Fifth Third offers the liquidity, credit and banking solutions independent...
Read Story
September 20, 2022, 08:05 AM
|
U.S. Bancorp and Mitsubishi UFJ Financial Group (MUFG) have mutually agreed to exercise their right under the purchase agreement for U.S. Bank’s acquisition of MUFG Union Bank’s core regional banking franchise to extend the outside termination date...
Read Story
September 19, 2022, 08:00 AM
|
SVB Financial Group, parent of Silicon Valley Bank, announced the appointment of Thomas King, former Chief Executive Officer of Investment Banking at Barclays, to its board of directors, effective September 13, 2022. King will also serve on the...
Read Story
September 16, 2022, 07:00 AM
|
First Citizens Bank announced the official launch of its Middle Market Banking unit to support the financial needs and goals of midsize businesses across the Southeastern U.S. Headquartered in Charlotte, First Citizens Middle Market Banking is now...
Read Story
September 06, 2022, 08:10 AM
|
CIT Bank, the national online bank, has been ranked as No. 1 in the nation for humanizing the customer experience in an independent survey conducted by American Banker in partnership with Monigle, a brand experience agency. The survey, which covered...
Read Story
September 02, 2022, 07:44 AM
|
Genesis Bank launched Genesis Bank Exchange, the Bank’s 1031 exchange division. Genesis Bank Exchange will serve as a Qualified Intermediary to facilitate Section 1031 exchanges of like-kind investment and business real property, will hold client...
Read Story
August 30, 2022, 07:00 AM
|
Dechert LLP advised Huntingdon Valley Bank (HVB) in connection with a master participation arrangement to sell participations in commercial loans to the MakerDAO PROTOCOL, believed to be the first commercial loan participation between a U.S....
Read Story
August 29, 2022, 07:00 AM
|
Trustmark National Bank, a wholly owned subsidiary of Trustmark Corporation, announced the introduction of a new line of business, Equipment Finance, in its Specialty Banking division that is based in Atlanta, GA.“We are pleased to add equipment...
Read Story
August 26, 2022, 08:02 AM
|
Citigroup Inc. announced that, as part of its continued efforts to reduce its operations and exposure in Russia, it will wind down its consumer banking and local commercial banking operations in the country. As part of the wind-down, Citi will also...
Read Story
August 26, 2022, 08:00 AM
|
The Board of Directors of MVB Financial Corp. announced that W. Marston Becker has been named Chairman of the Board.Becker, who has been a member of the Board since November 2020, replaces retiring Chairman David B. Alvarez. Becker is a member of the...
Read Story
August 26, 2022, 06:00 AM
|
MVB Financial Corp., the holding company for MVB Bank, Inc., announced it has entered into a definitive merger agreement pursuant to which MVB will acquire Integrated Financial Holdings, Inc. in an all-stock transaction. The strategic combination is...
Read Story
August 15, 2022, 07:40 AM
|
Citadel Credit Union officially launched its new Business Banking division – complete with a full suite of products, a new team, and the kickoff of a multichannel marketing campaign – "Better Business Banking Has Arrived."In January, Citadel, which...
Read Story
August 04, 2022, 08:08 AM
|
TD Bank Group and Cowen Inc. announced a definitive agreement for TD to acquire Cowen in an all-cash transaction valued at US$1.3 billion, or US$39 for each share of Cowen common stock. Through this transaction, TD Securities will accelerate its long...
Read Story
August 02, 2022, 08:02 AM
|
Nano Banc announced the appointment of R. Scott Racusin as chief executive officer (CEO), Mary Lynn Lenz, as chairman of the board and Steven K. Buster, as board vice chair. The new additions will play an integral role in Nano Banc’s strategic plan...
Read Story
|
Citizens announced that it has become the official bank of the New York Giants, as well as presenting partner and official bank of the NJ Devils and its home arena, Prudential Center, in Newark, N.J.“We look forward to welcoming fans to Giants and...
Read Story
|
Republic First Bancorp, the parent company of Republic First Bank d/b/a Republic Bank (the “Bank”), announced several corporate governance changes as the Company and its Board of Directors (the “Board”) seek to maximize shareholder value.
Harry D....
Read Story
|
Bluevine announced a new brand identity, reflecting the company’s next era of its commitment to grow and evolve its services alongside the changing needs of small business owners. Bluevine’s new logo, symbol, color palette, and typeface reflect its...
Read Story
|
The First Bancshares, holding company for The First Bank (The First), announced it has received all required regulatory approvals for the consummation of its proposed acquisition of Beach Bancorp, Inc. (BBI), parent company of Beach Bank based in...
Read Story
|
Regions Bank announced the establishment and continued business growth of a Commercial Corporate Finance (CCF) team that is connecting business leaders with specialized resources, insights, and guidance on opportunities including ownership...
Read Story
|
Fulton Financial Corporation announced the successful completion of its acquisition of Prudential Bancorp, Inc. headquartered in Philadelphia, PA, in a transaction in which Prudential Bancorp was merged into Fulton.“We are excited to have completed...
Read Story
|
Harlingen-based Texas State Bankshares, Inc. and Denton-based Access Bancorp, Inc. announced they have completed the merger of Access Bancorp, Inc. with Texas State Bankshares, Inc. and AccessBank Texas with Texas Regional Bank. As a result of the...
Read Story
|
Origin Bancorp, Inc., the holding company for Origin Bank, Choudrant, LA, and BT Holdings, Inc. (BTH), the holding company for BTH Bank, N.A., Quitman, TX, announced that the previously announced merger between BTH and Origin, pursuant to the...
Read Story
|
First Independent Bank, Russell, MN, and Citizens State Bank of Tyler, Inc., announced the signing of an agreement to merge. The Citizens State Bank was founded and chartered on May 28, 1917, by Hans Lauritsen. He was bank president, and his son, C.A...
Read Story
|
MUFG announced Masatoshi (Masa) Komoriya has been appointed Executive Chairman of the board of directors for MUFG Americas Holdings Corporation and its U.S. banking subsidiary, MUFG Union Bank, N.A. A member of the board of directors since April 2022...
Read Story
|
Fulton Financial Corporation and Prudential Bancorp, Inc. announced Prudential Bancorp shareholders have voted to approve Fulton’s acquisition of Prudential Bancorp and its subsidiary, Prudential Bank, located in Philadelphia, PA, with more than 98...
Read Story
|
Huntington Bancshares has completed its acquisition of Capstone Partners, a leading investment banking and advisory firm, creating a full-service banking experience for clients in Huntington's expanding capital markets and commercial banking...
Read Story
|
Richard ("Rich") Gold, President and Chief Operating Officer for M&T Bank Corporation, has announced his intention to retire, effective after the first quarter of 2023. Gold plans to remain on the Board of Directors of M&T Bank."It's difficult to...
Read Story
|
American Bank and TexStar National Bank jointly announced the signing of a definitive agreement and plan of merger pursuant to which American Bank will acquire TexStar. In accordance with the merger agreement, TexStar will merge with and into...
Read Story
|
Citizens Financial Group completed its previously announced acquisition of DH Capital LLC, a private investment banking firm serving companies in the Internet infrastructure, software and next generation IT services, and communications...
Read Story
|
Signature Bank announced the appointment of its Corporate Mortgage Finance (CMF) Group. The CMF group provides financing solutions for a range of mortgage-related collateral across Signature Bank’s national footprint. The Signature Bank CMF Group is...
Read Story
|
F.N.B. Corporation and UB Bancorp announced the signing of a definitive merger agreement for FNB to acquire UB Bancorp, including its wholly owned banking subsidiary, Union Bank, in an all-stock transaction valued at $19.56 per share, or a fully...
Read Story
|
First Horizon Corporation announced it has received shareholder approval for The Toronto-Dominion Bank (TD) to acquire First Horizon. The transaction is expected to close in the first quarter of TD's 2023 fiscal year subject to U.S. and Canadian...
Read Story
|
On May 23, Huntington Bancshares Incorporated and Thomas C. Shafer agreed that Shafer will retire from the company effective Dec. 31, 2022, according to a filing with the Securities and Exchange Commission. Shafer will step down from his role as the...
Read Story
|
BMO Financial Group announced a commercial banking office in Grand Rapids, MI, led by BMO's Michigan Managing Director James Hess. It is comprised of five commercial bankers focused on diversified industries, equipment finance and treasury & payment...
Read Story
|
Webster Bank joined the newly launched Bankers Helping Bankers (“BHB”) Banking-as-a-Service (BaaS) Association as a founding member. The Association aims to serve the unique needs of BaaS Sponsor banks. Webster’s BaaS team partners with fintechs, or...
Read Story
|
Funding Circle launched a new program for BancAlliance, a network of over 325 community banks, where participating members can purchase a diversified pool of interests in small business loans originated through Funding Circle’s platform. This...
Read Story
|
Truist Financial announced that Chief Financial Officer Daryl Bible has made the decision to retire from Truist after a distinguished 38-year career and more than 14 years with the company."Daryl has played an instrumental role in the success of our...
Read Story
|
On September 21, 2021, MUFG and MUFG Bank announced an agreement to sell all shares of MUFG Union Bank, MUFG’s subsidiary owned through MUFG Americas Holdings Corporation, to U.S. Bancorp, with an expected closing date in the first half of CY2022...
Read Story
|
KeyBank and Beach Point Capital Management, a credit focused investment manager, announced that they have established a new joint venture middle market direct lending program with $1.5 billion in lending capacity for U.S. middle market clients.The...
Read Story
|
U.S. Bank has entered into a collaboration agreement with trade-finance fintech LiquidX to help expedite and simplify supply-chain transactions between suppliers and buyers. This collaboration – which comes at a time of unparalleled stress in the...
Read Story
|
A federal judge on Friday dismissed class-action claims that Wells Fargo & Co, the fourth-largest U.S. bank, misled or defrauded shareholders about its commercial loans, Reuters reported.
U.S. District Judge William Alsup in San Francisco, CA, said...
Read Story
|
First Internet Bancorp, the parent company of First Internet Bank, announced that First Century Bancorp. has terminated the agreement and plan of merger between the two companies. Under the agreement, announced November 2, 2021, the consummation of...
Read Story
|
U.S. Bank is building upon its subscription finance capabilities by launching a dedicated subscription finance group to support U.S. fund managers’ new investment activity. The specialized lending unit provides fund managers with revolving credit...
Read Story
|
Citizens announced that the national Citizens Business Conditions Index™ (CBCI) reached 59.5 for the first quarter of 2022, up markedly from 54.4 at the end of 2021 and reaching its highest level since Citizens began tracking the data in 2014...
Read Story
|
CIT, a division of First Citizens Bank, announced its Community Association Banking group has been selected as winner of the "Best B2B Payments Platform" award for C-PropertyPay in the sixth annual FinTech Breakthrough Awards program. The recognition...
Read Story
|
Jack Henry & Associates announced that Old Second National Bank has expanded its collaboration with Jack Henry to support the bank's digital and growth strategy.Among the largest locally headquartered banks in the Chicago area, Old Second benefited...
Read Story
|
West Town Bank & Trust announced the launch of its dedicated cannabis banking program. The program provides the cannabis industry with secure, convenient, and modern financial tools, enabling businesses to operate more efficiently and reduce the...
Read Story
|
Citizens Financial Group announced the closing of its previously announced acquisition of Investors Bancorp. The acquisition of Investors, along with the recently completed acquisition of HSBC’s East Coast branches and national online deposit...
Read Story
|
Valley National Bancorp announced that its acquisition of Bank Leumi Le-Israel Corporation (“Leumi USA”), the U.S. subsidiary of Bank Leumi Le-Israel B.M. (“BLITA”), and parent company of Bank Leumi USA (“Bank Leumi”) was completed effective April 1...
Read Story
|
Citizens Financial Group and Investors Bancorp announced receipt of regulatory approval from the Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency to complete the previously announced acquisition of...
Read Story
|
WSFS Financial Corporation has completed the brand conversion and systems integration of Bryn Mawr Trust into its primary subsidiary, WSFS Bank.All Bryn Mawr Trust banking accounts have successfully converted to WSFS Bank accounts. All legacy Bryn...
Read Story
|
CIBC announced its new Junior Debt Lending & Advisory team within the bank's US Commercial Banking group. This marks its 17th specialty banking area. The new team follows its addition of an Equipment Finance team in January."Our clients require the...
Read Story
|
Versana announced its plans to launch a leading-edge, industry-backed syndicated loan platform, joining together banks, institutional lenders and their service providers to bring transparency, efficiency and velocity to this $5 trillion...
Read Story
|
Truist Financial Corporation announced that as part of a planned transition, William H. “Bill” Rogers Jr., Truist’s Chief Executive Officer, will become Chairman of the board and Thomas E. Skains will become Lead Independent Director. Both...
Read Story
|
M&T Bank Corporation announced receipt of regulatory approval from the Board of Governors of the Federal Reserve System to complete the previously announced acquisition of People's United Financial. The transaction has also received approval from...
Read Story
|
Huntington Bancshares entered into a definitive agreement to acquire Capstone Partners, one of the largest and most successful investment banking and advisory firms dedicated to serving middle market companies throughout their full business lifecycle...
Read Story
|
TD Bank Group and First Horizon Corporation announced that they have signed a definitive agreement for TD to acquire First Horizon in an all-cash transaction valued at US$13.4 billion, or US$25.00 for each common share of First Horizon. Through this...
Read Story
February 28, 2022, 07:49 AM
|
M&T Bank Corporation and People's United Financial, Inc. jointly announced the two companies have agreed to extend their merger agreement from Feb. 21 to June 1.The companies announced a year ago that M&T Bank had agreed to acquire People’s United...
Read Story
February 22, 2022, 07:47 AM
|
WSFS Bank announced the promotion of three Associates in the Bank’s Commercial, Small Business and Retail Lending divisions.The following Associates have been promoted:
Jim Wechsler – Senior Vice President, Chief Operating Officer, Commercial...
Read Story
February 03, 2022, 08:04 AM
|
Webster Financial Corporation and Sterling Bancorp jointly announced the completion of their previously announced merger, creating one of the largest commercial banks in the Northeast. The combined company is a unique financial institution, with a...
Read Story
February 02, 2022, 08:02 AM
|
Banc of California hired John Helgeson in the new position of Senior Director, Specialty Banking to focus on banking and lending to charter schools. In this position, Helgeson will be reporting to Patti Thompson-Derry, Market Executive for Banc of...
Read Story
February 02, 2022, 07:00 AM
|
Bank of Ann Arbor announced a new Asset Based Lending Group, stationed in its new branch office at 260 East Brown Street, Birmingham, Michigan. As reported last week, this new branch location housing retail banking, commercial lending, and asset...
Read Story
February 01, 2022, 07:55 AM
|
eCapital Corp. announced the acquisition of UMB Bank’s Accounts Receivable Financing division portfolio.“This acquisition from UMB Bank supports our organizational growth strategy, as we continue to advance our position in the alternative finance...
Read Story
January 27, 2022, 08:00 AM
|
J.P. Morgan Asset Management announced a new sustainability-focused growth private equity investment team. The team will launch its first private equity strategy focused on investing in growth-stage private companies that drive resource efficiency...
Read Story
January 25, 2022, 08:00 AM
|
Bridge Bank is expanding its national focus on Startup Banking with a key hire, Kelly Caviglia. She joins the Technology Banking group to spearhead the bank’s ongoing work with early-stage tech and innovation companies to support their banking needs...
Read Story
January 19, 2022, 07:00 AM
|
First Citizens BancShares, parent company of First-Citizens Bank & Trust Company announced completion of its previously announced merger with CIT Group. North Carolina-headquartered First Citizens is now a top 20 U.S. financial institution (based on...
Read Story
January 04, 2022, 08:00 AM
|
WSFS Financial Corporation, the parent company of WSFS Bank, completed the acquisition of the Bryn Mawr Bank Corporation, and its primary subsidiary, The Bryn Mawr Trust Company, as of January 1, 2022. In addition, in accordance with the merger...
Read Story
January 04, 2022, 07:52 AM
|
First Financial Bancorp. announced it has completed its previously announced acquisition of Cincinnati-based Summit Funding Group, Inc., the fourth largest independent equipment financing platform in the United States. “We are excited about the...
Read Story
January 04, 2022, 07:35 AM
|
Simmons Bank announced the creation of a new Corporate Banking Division. This new unit will provide Simmons Bank the ability to consolidate specialized lines of business loans aligning commercial and equipment finance, government and institutional...
Read Story
December 27, 2021, 08:01 AM
|
WSFS Financial Corporation, the parent company of WSFS Bank, and Bryn Mawr Bank Corporation (BMTC), the parent company of The Bryn Mawr Trust Company, jointly announced WSFS has received all required approvals to acquire BMTC, and to merge its...
Read Story
December 21, 2021, 07:52 AM
|
BMO Financial Group, and its indirect wholly owned Chicago-based subsidiary BMO Harris Bank announced the signing of a definitive agreement with BNP Paribas to acquire Bank of the West and its subsidiaries, with assets as of Sept. 30, 2021, of...
Read Story
December 20, 2021, 08:05 AM
|
Webster Financial Corporation and Sterling Bancorp jointly announced that Webster has received regulatory approval from the Board of Governors of the Federal Reserve System to complete the previously announced merger between the two companies. As...
Read Story
December 20, 2021, 08:02 AM
|
Regions Financial, the parent company of Regions Bank, entered into a definitive agreement to acquire Clearsight Advisors, a leading-edge mergers and acquisitions firm serving clients in the technology, professional services, data and information...
Read Story
December 20, 2021, 07:50 AM
|
First Citizens BancShares, the parent company of First-Citizens Bank & Trust Company, and CIT Group the parent company of CIT Bank, jointly announced that their previous proposal to merge the two companies has received approval from the Board of...
Read Story
December 20, 2021, 07:47 AM
|
Synovus announced the launch of a new restaurant finance team focused on helping restaurants across the country execute strategic plans for growth while fostering relationships with established and up-and-coming names in the sector. Residing in...
Read Story
December 20, 2021, 07:08 AM
|
According to a Bloomberg report, Bank of Montreal has expressed interest in buying BNP Paribas SA’s U.S. banking arm, according to people familiar with the matter. BMO has held initial talks about an acquisition of BNP Paribas’s Bank of the West unit...
Read Story
December 17, 2021, 08:03 AM
|
First Republic Bank’s Board of Directors announced leadership transitions effective Jan. 1, 2022.Founder, Chairman and Co-CEO Jim Herbert will take a medical leave of absence from his executive position in response to a recent medical recommendation...
Read Story
December 14, 2021, 08:04 AM
|
Lakeland Bancorp and 1st Constitution Bancorp announced that on December 10, 2021, the Federal Reserve Bank of New York issued a non-objection to Lakeland’s request to waive the application requirement in connection with the proposed merger of 1st...
Read Story
December 14, 2021, 06:00 AM
|
Regions Bank completed its acquisition of Sabal Capital Partners, a diversified financial services firm that leverages an innovative, technology-driven origination and servicing platform to facilitate off-balance-sheet lending in the small balance...
Read Story
December 06, 2021, 07:14 AM
|
CVB Financial Corp. (CVBF), the holding company for Citizens Business Bank (Citizens), announced that Citizens has received regulatory approvals from the Federal Deposit Insurance Corporation and the California Department of Financial Protection and...
Read Story
November 29, 2021, 07:44 AM
|
Investors Bancorp, Inc. announced stockholders of the company approved the planned merger with Citizens Financial Group, Inc. at a special meeting of the company's stockholders. The transaction is expected to close in the first half of 2022, subject...
Read Story
November 22, 2021, 07:10 AM
|
Anubhav Shrivastava has been named the new Head of CB Global Trade for JPMorgan Chase Commercial Banking. In this role, Anubhav will lead a team responsible for helping commercial banking clients access tailored financial solutions to manage their...
Read Story
November 17, 2021, 08:02 AM
|
Reuters reported that BNP Paribas is working with advisers to assess a sale of its U.S. arm Bank of the West as it seeks to retreat from the American retail banking market after struggling to compete with larger and better capitalized rivals, three...
Read Story
November 16, 2021, 08:05 AM
|
Citizens Financial Group has completed its acquisition of JMP Group LLC ("JMP"), a capital markets firm that provides investment banking services, including strategic advisory, equity research and sales and trading focused primarily on the healthcare...
Read Story
November 16, 2021, 07:05 AM
|
Patriot National Bancorp, Inc., the parent company of Patriot Bank, N.A., and American Challenger Development Corp., announced they have entered into a definitive agreement under which Patriot will acquire American Challenger via a reverse subsidiary...
Read Story
November 16, 2021, 07:00 AM
|
U.S. Bank announced several company-wide commitments to address the impacts of climate change on its business, customers and communities, including:
Setting a goal to achieve Net Zero greenhouse gas emissions (GHG) by 2050
Setting a goal to...
Read Story
November 11, 2021, 07:09 AM
|
The October 2021 Senior Loan Officer Opinion Survey on Bank Lending Practices addressed changes in the standards and terms on, and demand for, bank loans to businesses and households over the past three months, which generally correspond to the third...
Read Story
November 09, 2021, 07:50 AM
|
First Internet Bank hired Ryan Hasher as Vice President of Commercial Banking. Hasher joins First Internet Bank’s Arizona-based commercial banking team, reporting to Regional Vice President Neil Barna. “Ryan is an invaluable addition to our team,”...
Read Story
November 08, 2021, 07:03 AM
|
Cadence Bank announced the successful closing of its previously announced merger in which legacy Cadence Bancorporation merged into BancorpSouth Bank, with BancorpSouth as the surviving company. Upon the completion of the merger, BancorpSouth was...
Read Story
November 01, 2021, 07:44 AM
|
Stearns Bank announced Norman (Norm) Skalicky, Chairman of its Board of Directors and the Boards of its holding company and affiliate banks, will be retiring and transitioning to Emeritus status, stepping away from active participation in the...
Read Story
October 29, 2021, 07:00 AM
|
Wells Fargo announced that 21-year company veteran Kristin Lesher will lead Middle Market Banking, effective immediately. She reports to Kyle Hranicky, CEO of Wells Fargo Commercial Banking.An industry leader in serving middle market companies, Wells...
Read Story
October 25, 2021, 08:00 AM
|
M&T Bank Corporation announced it has received approval from the New York State Department of Financial Services and the Connecticut Department of Banking to complete the merger of M&T Bank with People's United Bank. The combined bank will create a...
Read Story
October 22, 2021, 07:00 AM
|
Bank of America announced its current portfolio of loans, deposits and investments to Community Development Financial Institutions (CDFIs) now exceeds $2 billion. This includes approximately $100 million in deposits to minority depository...
Read Story
October 20, 2021, 07:22 AM
|
BancorpSouth Bank and Cadence Bancorporation, the parent company of Cadence Bank, announced their proposed merger has received final Federal Deposit Insurance Corporation approval. The FDIC approval follows recent approvals from the Mississippi...
Read Story
October 15, 2021, 07:21 AM
|
J.P. Morgan is expanding its Commercial Banking business in South Korea to provide midcap companies with access to leading financial capabilities, a strong global network and deep market expertise. This marks the 19th country Commercial Banking has...
Read Story
October 14, 2021, 06:00 AM
|
The PNC Financial Services Group completed the conversion of 2.6 million customers, 9,000 employees and nearly 600 branches across seven states from BBVA USA to PNC Bank.The simultaneous conversion of BBVA USA customers and employees to PNC's network...
Read Story
October 13, 2021, 07:16 AM
|
Columbia Banking System, the parent company of Columbia State Bank, and Umpqua Holdings Corporation, the parent company of Umpqua Bank, have entered into a definitive agreement under which the companies will join together in an all-stock...
Read Story
October 12, 2021, 07:56 AM
|
Banc of California and Pacific Mercantile Bancorp announced that all required regulatory approvals for the mergers of Pacific Mercantile into the Company and Pacific Mercantile Bank into Banc of California, N.A. have been received. Subject to the...
Read Story
October 04, 2021, 07:46 AM
|
First Citizens BancShares, the parent company of First-Citizens Bank & Trust Company, and CIT Group, the parent company of CIT Bank, jointly announced that the two companies have agreed to extend the merger agreement from October 15, 2021, to March 1...
Read Story
October 01, 2021, 08:00 AM
|
HSBC Bank Canada announced the launch of five new sustainable finance tools for commercial and global banking clients. Available to Canadian businesses of all sizes, Green Deposits, Green Trade Finance, Green Revolving Credit Facilities...
Read Story
September 28, 2021, 07:54 AM
|
Valley National Bancorp and Bank Leumi Le-Israel Corporation announced today they have entered into a definitive merger agreement whereby Valley will acquire Leumi, the US subsidiary of Bank Leumi Le-Israel B.M., and parent company of Bank Leumi USA...
Read Story
September 24, 2021, 08:00 AM
|
U.S. Bancorp has entered into a definitive agreement to acquire MUFG Union Bank’s core regional banking franchise from Mitsubishi UFJ Financial Group in a transaction that will bring together two premier organizations with a focus on being the leader...
Read Story
September 21, 2021, 08:05 AM
|
Peoples Bancorp Inc., parent company of Peoples Bank, announced it has completed its acquisition of Premier Financial Bancorp, Inc. and Premier's wholly owned subsidiaries, Premier Bank, Inc. and Citizens Deposit Bank & Trust, Inc. Peoples and...
Read Story
September 20, 2021, 07:36 AM
|
Mitsubishi UFJ Financial Group Inc. is considering selling its U.S. banking arm, as consolidation heats up in the American financial industry, people familiar with the matter said, Bloomberg reported. According to Bloomberg, the Japanese lender is...
Read Story
September 17, 2021, 08:04 AM
|
Associated Banc-Corp announced plans for the expansion of its lending capabilities, growth of its core businesses and transformation of its digital strategy. These plans include new higher-margin lending verticals and digital investments which are...
Read Story
September 10, 2021, 07:58 AM
|
Citizens Financial Group and JMP Group have entered into a definitive merger agreement under which Citizens will acquire JMP in an all-cash transaction. JMP is a highly regarded capital markets firm that provides investment banking services...
Read Story
September 08, 2021, 08:08 AM
|
SVB Financial Group ("SVB"), the parent of Silicon Valley Bank, has assembled an industry-leading technology investment banking team led by Jason Auerbach, SVB Leerink's new Co-Head of Investment Banking. These additions to SVB's existing investment...
Read Story
September 08, 2021, 08:03 AM
|
Texas Capital Bancshares, Inc., the parent company of Texas Capital Bank, announced key updates to the company’s go-forward strategy.Rob C. Holmes, President and CEO, said, “When I joined as CEO in January, I committed to formulating a detailed...
Read Story
September 07, 2021, 06:00 AM
|
Bank of America announced the retirement of Anne Finucane, Vice Chairman, and Thomas Montag, Chief Operating Officer and President of Global Banking and Markets. Both executives are members of the company’s executive management team and report to...
Read Story
August 27, 2021, 08:02 AM
|
Fifth Third Private Bank, a division of Fifth Third Bank, announced the creation of the Business Transition Advisory team, dedicated to preparing business owners financially and personally for a business transition or liquidity event. Leading the...
Read Story
August 20, 2021, 08:03 AM
|
Fortis announced Jeremy Sorensen as the Commercial Market President of its Utah Market. As market president, Sorensen will lead the strategy and management of the bank's Commercial Banking team in Utah in partnership with Josh Peters, Chief Lending...
Read Story
August 20, 2021, 07:15 AM
|
The PNC Financial Services Group announced it is committing $20 billion over five years in support of environmental finance. This commitment is an extension of PNC's long-standing support for accelerating the transition to a low-carbon economy, and...
Read Story
August 19, 2021, 08:00 AM
|
Webster Financial Corporation and Sterling Bancorp jointly announced that each company's stockholders have approved the proposed merger between Webster and Sterling at their respective special meetings of stockholders held today. The final voting...
Read Story
August 18, 2021, 07:42 AM
|
Funding Circle, the small business loans platform and Congressional Bank, a bank headquartered in Maryland, announced an extension of their existing lending partnership to provide more capital to small businesses across the U.S.The second phase of...
Read Story
August 16, 2021, 05:47 AM
|
Wells Fargo announced that Charles H. Noski will retire as chairman and a member of Wells Fargo’s Board of Directors. Noski has stepped down as chairman, and he will remain as a director until he retires on Sept. 30, 2021, to facilitate the...
Read Story
August 10, 2021, 08:00 AM
|
BancorpSouth Bank shareholders voted to approve its merger with Cadence Bancorporation, the parent company of Cadence Bank, during a special meeting of its shareholders. This is a critical step toward completing the previously announced merger...
Read Story
August 10, 2021, 07:20 AM
|
Citizens Financial Group entered into a definitive agreement to acquire Willamette Management Associates, a valuation consulting and forensic analysis firm with offices in Chicago, Atlanta and Portland, Ore. This transaction further strengthens the...
Read Story
August 06, 2021, 07:46 AM
|
Newtek Business Services, an internally managed business development company (“BDC”), entered into an agreement to acquire National Bank of New York City (“NBNYC” or the “Bank”), a nationally chartered bank with approximately $204 million in total...
Read Story
August 03, 2021, 07:44 AM
|
Citizens Financial Group and Investors Bancorp announced that they have entered into a definitive agreement and plan of merger under which Citizens will acquire all of the outstanding shares of Investors for a combination of stock and cash.The...
Read Story
|
CVB Financial Corp., the holding company for Citizens Business Bank, and Suncrest Bank announced they have entered into an agreement and plan of reorganization and merger, pursuant to which Suncrest will merge with and into Citizens in a stock and...
Read Story
|
WSFS Financial Corporation, the parent company of WSFS Bank, received approval from the Office of the Comptroller of the Currency (OCC) to merge with Bryn Mawr Bank Corporation as previously reported on March 11, 2021. Subject to the remaining...
Read Story
|
Peoples Bancorp Inc., parent company of Peoples Bank, has received all necessary regulatory approvals for the merger between Peoples and Premier Financial Bancorp, Inc., with Peoples as the surviving corporation, and for the mergers between Peoples...
Read Story
|
SouthState Corporation and Atlantic Capital Bancshares jointly announced the signing of a definitive agreement pursuant to which Atlantic Capital will merge with and into SouthState in an all-stock transaction with an aggregate value of approximately...
Read Story
|
First Citizens BancShares Inc., the parent company of First-Citizens Bank & Trust Company, and CIT Group Inc., the parent company of CIT Bank, N.A., jointly announced the proposal to merge the two companies has received regulatory approval from the...
Read Story
|
F.N.B. Corporation and Howard Bancorp announced the signing of a definitive merger agreement for FNB to acquire Howard, including its wholly-owned banking subsidiary, Howard Bank, in an all-stock transaction valued at $21.96 per share, or a fully...
Read Story
|
The Boards of Directors of Lakeland Bancorp, the parent company of Lakeland Bank, and 1st Constitution Bancorp, the parent company of 1st Constitution Bank, have entered into a definitive Agreement and Plan of Merger, under which Lakeland will...
Read Story
|
U.S. Bank entered into a definitive agreement to purchase PFM Asset Management LLC under its subsidiary, U.S. Bancorp Asset Management. PFM Asset Management will continue to operate as a separate entity. PFM Asset Management and U.S. Bancorp Asset...
Read Story
|
Heritage Bank of Commerce announced that the Bank continues to expand its Specialty Finance Group. The Specialty Finance Group consists of Bay View Funding’s national factoring business and the Bank’s national Asset-Based Lending (“ABL”)/Corporate...
Read Story
|
Carver Bancorp, the holding company for Carver Federal Savings Bank ("Carver"), a certified Minority Depository Institution ("MDI"), and Bank of America closed a Senior Secured Social Impact Revolving Credit Facility with BlackRock's Alternative...
Read Story
|
Wells Fargo announced that Ruth Jacks has been named head of Data and Transformation for Commercial Banking. She joined the company June 14 and reports to Perry Pelos, head of Commercial Banking.In this newly created leadership role, Jacks is...
Read Story
|
WSFS Financial Corporation and Bryn Mawr Bank Corporation, jointly announced that their respective stockholders approved the previously announced merger of BMTC into WSFS at a special meeting of stockholders for each company.“Stockholder approval...
Read Story
|
Huntington Bancshares announced it has closed its merger with TCF Financial Corporation, creating a Top 25 U.S. bank holding company.The combination positions Huntington for enhanced profitability and scale, revenue growth opportunities, significant...
Read Story
|
The PNC Financial Services Group, Inc. announced the completion of its acquisition of BBVA USA Bancshares, Inc., including its U.S. banking subsidiary BBVA USA. Through this transaction, PNC is now the fifth-largest U.S. commercial banking...
Read Story
|
HSBC Holdings will exit its US domestic mass market retail banking business through several transactions, pending regulatory approval. They include:
Exiting 90 branches out of a current branch network of 148 branches
HBUS will retain a small...
Read Story
|
Webster Bank announced expanded roles for Regional Presidents in Connecticut. Timothy D. Bergstrom, Regional President, will now oversee the Hartford, New Haven and Middlesex county markets including greater Bristol, New Britain, Hartford and New...
Read Story
|
M&T Bank Corporation and People's United Financial, Inc. jointly announced that, at their respective special meetings of shareholders, they each received the necessary shareholder approvals for the consummation of the merger of People's United into...
Read Story
|
Huntington Bancshares Incorporated and TCF Financial Corporation jointly announced that the Board of Governors of the Federal Reserve System (the Federal Reserve Board) and the Office of the Comptroller of the Currency, with input from the United...
Read Story
|
Truist Financial announced the expansion of the Truist Commercial Community Bank's Industry Consulting team, adding waste and environmental services and building products to its growing list of industry specialties. Truist's Commercial Community Bank...
Read Story
|
JPMorgan Chase announced details about Morgan Health, a new business unit focused on improving the quality, efficiency, and equity of employer-sponsored healthcare. The new group will be led by Dan Mendelson, CEO of Morgan Health, reporting to Peter...
Read Story
|
Customers Bank, a digital forward financial institution with approximately $18.8 billion in assets, is expanding the bank’s Midwest presence based in Chicago as part of the bank’s national expansion. The bank is also opening new commercial banking...
Read Story
|
BHI announced a restructuring of the bank’s business team to accommodate its current growth, fulfil the execution of BHI’s strategic plan, position the bank for further expansion and reinforce its industry expertise in specific sectors. John Yoler...
Read Story
|
Signature Bank announced several management appointments, promotions and transitions, all of which will address its progress to date and future growth and initiatives.After 21 years of dedicated service, Mark Sigona, Senior Executive Vice President...
Read Story
|
Webster Financial Corporation and Sterling Bancorp jointly announced their boards of directors have approved by unanimous vote a definitive agreement under which the two companies will combine in an all-stock merger of equals transaction with a total...
Read Story
|
BancorpSouth Bank and Cadence Bancorporation, the parent company of Cadence Bank, N.A., jointly announced that they have entered into a merger agreement under which the companies will combine in an all-stock merger with a total market value of more...
Read Story
|
Sterling National Bank entered into a Banking as a Service agreement with BrightFi, a provider of cloud-based digital banking platform technology and services to regional and community banks and non-bank entities.This collaboration with BrightFi...
Read Story
|
JPMorgan Chase Commercial Banking announced a new Green Economy specialized industry team, which will provide dedicated banking services and expertise to companies that produce environmentally-friendly goods and services or focus on environmental...
Read Story
|
Eastern Bankshares, the stock holding company for Eastern Bank, and Century Bancorp, the stock holding company for Century Bank and Trust Company, jointly announced they have entered into a definitive all-cash merger agreement with an aggregate...
Read Story
|
Peoples Bancorp and Premier Financial Bancorp jointly announced the signing of a definitive agreement and plan of merger pursuant to which Peoples will acquire, in an all-stock merger, Premier, a bank holding company headquartered in Huntington, West...
Read Story
|
Huntington Bancshares Incorporated and TCF Financial Corporation jointly announced each company's shareholders have approved the proposed merger of TCF into Huntington at their respective special meetings of shareholders."Today's shareholder approval...
Read Story
|
Banc of California, the holding company of Banc of California, and Pacific Mercantile Bancorp, the holding company of Pacific Mercantile Bank, announced they have entered into a definitive agreement and plan of merger under which Pacific Mercantile...
Read Story
|
Stearns Bank is well-positioned for expansion, adding three seasoned executives to explore new opportunities. Stearns Bank hired Al Doering as Chief M&A Officer, a newly created executive level role. Doering previously worked with Stearns Bank as its...
Read Story
|
Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $5 billion in assets, announced it has successfully transitioned Melrose Bank customers and added CSB’s 17th physical location. Following the...
Read Story
|
WSFS Financial Corporation and Bryn Mawr Bank Corporation jointly announced the signing of a definitive merger agreement whereby Bryn Mawr Bank Corporation (“Bryn Mawr”) will merge with WSFS Financial Corporation (“WSFS”), in a transaction valued at...
Read Story
|
Wells Fargo has entered into a definitive agreement to sell Wells Fargo Asset Management (WFAM) to GTCR LLC and Reverence Capital Partners, L.P. This sale includes Wells Fargo Bank N.A.’s business of acting as trustee to its collective investment...
Read Story
February 23, 2021, 08:20 AM
|
M&T Bank Corporation and People's United Financial, Inc. announced they have entered into a definitive agreement under which M&T will acquire People's United in an all-stock transaction.The combined company will create a diversified...
Read Story
February 22, 2021, 08:20 AM
|
TCF’s Middle Market team has been named a winner of the 2020 Greenwich Excellence Award for U.S. Middle Market Banking in two regional categories: Cash Management - Overall Satisfaction (Midwest) and Likelihood to Recommend (Midwest).Greenwich...
Read Story
February 22, 2021, 05:00 AM
|
TCF Capital Solutions has acquired BB&T Commercial Equipment Capital, Corp. (“CEC”), which includes a portfolio of approximately $1 billion of equipment finance leases and loans. CEC was Truist Bank’s national small-ticket equipment leasing and...
Read Story
February 01, 2021, 08:00 AM
|
Dave, the banking app, secured a $100 million credit facility from Victory Park Capital (VPC). The funding will support the growth of Dave’s banking product and accelerate the company’s expansion into new products and features.In 2020, Dave rolled...
Read Story
January 29, 2021, 08:03 AM
|
TD Bank has combined its previous Commercial and Corporate and Specialty Banking teams to create a new Commercial Bank. The new Commercial Bank will drive growth, deliver a better client and colleague experience and create efficiencies."Our...
Read Story
January 29, 2021, 08:00 AM
|
The Toronto-Dominion Bank (TD) and Wells Fargo & Company announced a definitive agreement, subject to certain closing conditions, for TD to acquire Wells Fargo's Canadian Direct Equipment Finance business.The acquisition of Wells Fargo's Canadian...
Read Story
January 15, 2021, 08:17 AM
|
Investors Bancorp extinguished $1 billion in wholesale funding with an average rate of 2.01%. A portion of the wholesale funding was extinguished in October, while the remainder was extinguished on December 22, 2020. The Company incurred $24 million...
Read Story
December 30, 2020, 08:00 AM
|
Peapack-Gladstone Financial Corporation and Peapack-Gladstone Bank are proud to announce that NJBankers recently recognized Matthew Remo as a “Rising Star” of the New Jersey banking industry at its virtual awards ceremony held on November 5, 2020....
Read Story
November 20, 2020, 06:00 AM
|
Commercial and multifamily mortgage bankers are expected to close $395 billion of loans backed by income-producing properties in 2020, a 34 percent decline from 2019's record volume of $601 billion, according to a new forecast released today by the...
Read Story
November 09, 2020, 09:00 AM
|
The Office of the Comptroller of the Currency (OCC) issued a rule that determines when a national bank or federal savings association (bank) makes a loan and is the “true lender,” including in the context of a partnership between a bank and a third...
Read Story
October 28, 2020, 09:00 AM
|
Amid the fallout from the coronavirus-induced global pandemic, banks in North America will continue to face a challenging operating environment throughout the medium term, Fitch Ratings says. Industry trends within North America that were emerging...
Read Story
October 12, 2020, 09:05 AM
|
The banking industry reported quarterly net income of $18.8 billion during the second quarter, a 70 percent decline from one year ago, according to data released by The Federal Deposit Insurance Corp. Slightly less than one-half of all banks...
Read Story
August 26, 2020, 09:05 AM
|
ABN AMRO announced that going forward its Corporate & Institutional Banking (CIB) group will exit all non-European corporate banking activities, focusing on clients in Northwest Europe. Trade & Commodity Finance activities will be discontinued...
Read Story
August 17, 2020, 08:55 AM
|
Following its stress tests earlier this year, the Federal Reserve Board on Monday announced individual large bank capital requirements, which will be effective on October 1.Under its framework for large banks—those with more than $100 billion in...
Read Story
August 11, 2020, 08:47 AM
|
Fitch Ratings' new interactive country-by-country map of bank rating trends shows that the balance of Outlooks globally has turned sharply negative since the onset of the coronavirus pandemic. The proportion of bank ratings on Negative Outlook or...
Read Story
August 10, 2020, 09:05 AM
|
Sterling Bancorp announced that its principal subsidiary Sterling National Bank is introducing its new Banking-as-a-Service (“BaaS”) program, which provides a wide range of customized products, payment and back office capabilities for FinTech and...
Read Story
|
The Financial Stability Board (FSB) reiterated its position that transformational changes to the global banking system must continue despite the CoVID-19 crisis.The FSB’s Official Sector Steering Group (OSSG) is monitoring the developments closely...
Read Story
|
The Federal Reserve Board issued a series of new restrictions on large banks following recent stress tests for 2020 that included additional sensitivity analyses that the Board conducted in light of the coronavirus event.For the third quarter of this...
Read Story
|
Canadian banks took massive provisions in 2Q20, and earnings plummeted 50.1% year-over-year given rapid deterioration in banks' economic outlooks due to the coronavirus pandemic, disrupting 2020 operating plans, according to a new report from Fitch...
Read Story
|
Peoples Bank SB, the wholly-owned subsidiary of NorthWest Indiana Bancorp, announced today that as of May 11, 2020 it has received the approvals of the applications filed by Peoples Bank with the Indiana Department of Financial Institutions and the...
Read Story
|
While the vast majority of the largest U.S. banks reported positive earnings in 1Q20, profitability will become more challenging going forward as the impact of the coronavirus pandemic sets in, according to Fitch Ratings latest U.S. Banking Quarterly...
Read Story
|
The Libor-OIS spread, a closely watched metric showing stress in the interbank lending market, has returned to pre-crisis levels as financial markets' coronavirus-related anxiety dissipates.The spread measures the difference between the three-month...
Read Story
|
Commercial loan growth reaccelerated across much of the U.S. banking industry as lenders began to fund federally backed small business loans and prepared to start processing a second round of applications under the coronavirus relief program...
Read Story
|
State banking groups issued a call to Congress for what they view as an opportunistic move by credit unions to receive favorable policy changes as a result of Covid-19, particularly expansion of the Member Business Loan cap.In a letter to...
Read Story
|
First-quarter earnings reports by the four largest U.S. banks marked an emphatic turn in the credit cycle, as multi-billion dollar reserve builds delivered on market expectations and drove year-over-year declines in EPS that ranged from 43% for Bank...
Read Story
|
After posting a dismal earnings report, with a 45% drop in profits for the first quarter, Bank of America announced it will set aside $3.6 billion to cover delinquent loans in the quarter.JPMorgan Chase and Wells Fargo have taken similar actions....
Read Story
|
A corporate scramble for cash and massive injections of liquidity by the Federal Reserve are reverberating across the balance sheets of U.S. commercial banks, with commercial and industrial loans registering the biggest week-over-week increase in...
Read Story
|
MUFG announced that it recorded extraordinary losses associated with a one-time amortization of goodwill ("amortization") in its consolidated financial statements for the fiscal year ending March 31, 2020 following impairment losses on shares of PT...
Read Story
|
Comptroller of the Currency Joseph M. Otting made the following statement during a Financial Stability Oversight Council meeting regarding the condition of the federal banking system and its response to the COVID-19 national emergency."Thank you, Mr....
Read Story
|
Tech CU announced that it has expanded its commercial banking relationship with Keep IT Simple, a company focused on helping other businesses solve complex IT challenges. Based in the Bay Area for more than 30 years, Keep IT Simple is now using Tech...
Read Story
|
GreatAmerica Financial Services Corporation announced it has submitted an application with the Federal Deposit Insurance Corporation (FDIC) and the Utah Department of Financial Institutions (UDFI) to establish GreatAmerica Bank, an industrial bank to...
Read Story
|
Bank rating Outlooks are still skewed to the negative, although less so than six months' ago, Fitch Ratings says. The global share of Negative Outlooks was 13% at end-2019 and the share of Positive Outlooks 5%, compared with 17% and 6%, respectively...
Read Story
January 24, 2020, 09:05 AM
|
The Fed has recently stepped in to ameliorate repo market volatility; however, the structural issues leading U.S. banks to hoard cash seems likely to persist, according to a new dashboard report from Fitch Ratings. This may continue to present...
Read Story
December 18, 2019, 09:00 AM
|
More than half of the survey respondents (51%) are using AI simply for point solutions and individual tasks, with 27% testing in pilots, and only 19% leveraging it across the bank holistically. With pressures mounting from fintechs and other non-bank...
Read Story
December 11, 2019, 08:00 AM
|
The ratings and sector outlooks for U.S. banks, while stable, reflect the weakening economic operating environment evidenced by a flat yield curve and declining business confidence, as well as the effects of the Fed's loose monetary policy and a...
Read Story
November 26, 2019, 08:59 AM
|
Reliant Bancorp, Inc., the parent company for Reliant Bank, announced that it has entered into a definitive agreement to acquire First Advantage Bancorp, the parent company for First Advantage Bank (“FAB”), located in Clarksville, Tennessee. The...
Read Story
October 24, 2019, 09:15 AM
|
Santander Bank unveiled its global Santander Cash Nexus solution for Commercial Banking and Corporate and Investment Banking clients in North America. This new platform offers clients a comprehensive suite of global connectivity solutions and...
Read Story
October 22, 2019, 08:15 AM
|
With markets concerned about a potential turn in the economy, one-off credit issues could weigh on U.S. regional banks' third-quarter earnings season, according to a new briefing paper by analysts from S&P Global Market Intelligence.Margin pressure...
Read Story
October 17, 2019, 09:00 AM
|
Appetite for the U.S. dollar has been shrinking to unprecedented levels among the world's central banks, reflecting their fear of uncertainty in U.S. economic policy and the American political landscape, says Derek Halpenny, Head of Research with...
Read Story
September 30, 2019, 08:55 AM
|
As much as 15% of banks’ global payments revenue, or US$280 billion, is likely be displaced by the growth of digital payments and competition from non-banks, as payments become more instant, invisible and free, according to a new report from...
Read Story
September 16, 2019, 08:50 AM
|
For the 5,303 commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC), aggregate net income totaled $62.6 billion in second quarter 2019, an increase of $2.5 billion (4.1 percent) from a year earlier. The...
Read Story
September 09, 2019, 08:00 AM
|
The world's 12 largest investment banks posted combined revenues of $76.8 billion in the six months to June-end, their lowest aggregate first-half results since 2006, according to the latest sector index released by business intelligence firm...
Read Story
September 06, 2019, 08:55 AM
|
Capital One has entered into an agreement to acquire KippsDeSanto & Co. a leading investment banking firm focused on serving growth-oriented aerospace/defense, government services and technology companies. Based in Tysons Corner, Va. in the...
Read Story
August 20, 2019, 09:00 AM
|
Profitability at U.S. banks with less than $10 billion in assets has declined in the second quarter, according to an analysis of results reported through July 26 conducted by S&P Global Market Intelligence.The median return on average equity among...
Read Story
August 02, 2019, 08:50 AM
|
A new report from Citizens Commercial Banking finds that 90 percent of businesses expect real-time payments, the super-fast, new standard in U.S. billing and payment processing that is currently being deployed, to dramatically transform the way...
Read Story
|
New data from Juniper Research has found that fintech platform revenues will reach $638 billion by 2024, up from an estimated $263 billion in 2019; driven by increasing consumer acceptance of fintech-powered solutions.According to the new research...
Read Story
|
Big banks are holding their own against a rising tide of new financial technology companies, according to data released by LinkedIn; however stringent regulations and fallout from critical news headlines is creating new challenges for some of the...
Read Story
|
Mechanics Bank and Rabobank, N.A., a subsidiary of Rabobank Group, announced Mechanics Bank and Rabobank Group have entered into a definitive agreement pursuant to which Mechanics Bank will acquire Rabobank, N.A. in a strategic business combination...
Read Story
|
SunTrust Banks, Inc. and BB&T Corporation announced both companies' boards of directors have unanimously approved a definitive agreement to combine in an all-stock merger of equals valued at approximately $66 billion. The combined company will be the...
Read Story
February 07, 2019, 09:00 AM
|
MUFG Union Bank, N.A. announced it has completed the acquisition of Intrepid Investment Bankers LLC (Intrepid), a leading Los Angeles-based regional middle market investment banking firm. The acquisition expands the bank's client service capabilities...
Read Story
January 10, 2019, 07:10 AM
|
Most large banks said that providing Open Banking services for their commercial clients is a key strategic initiative in their digital transformation programs, and many expect Open Banking to help them achieve double-digit revenue growth, according...
Read Story
December 03, 2018, 08:02 AM
|
Recently proposed changes to how regulatory capital and liquidity is managed and reported at U.S. large regional banks continues the bifurcation of regulatory relief between Global Systemically Important Banks (GSIBs) and smaller peers, says Fitch...
Read Story
November 06, 2018, 07:00 AM
|
Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reported aggregate net income of $60.2 billion in the second quarter of 2018, up $12.1 billion (25.1 percent) from a year ago. The improvement in...
Read Story
August 31, 2018, 08:02 AM
|
Ninety percent of U.S. bank chief executives (CEOs) are very confident about the growth prospects for their companies over the next three years, with mergers and acquisitions (M&A) and third-party strategic alliances helping fuel this growth...
Read Story
|
KeyBank announced the acquisition of a digital lending platform for small businesses created by Bolstr. The fintech software, expected to be implemented in 2018, will enable KeyBank to provide faster and easier access both to SBA loans and to...
Read Story
|
U.S. bank profits are projected to reach pre-crisis levels but CECL could slow overall balance sheet growth, according to a new report from S&P Global Market Intelligence that also questions the benefits of newly enacted tax reforms.
S&P Global...
Read Story
|
Competitive pressures from banks and nonbanks are contributing to easing in underwriting, increasing the risk that sound pricing structures and practices may be compromised, according to a new report from the Office of the Comptroller of the Currency...
Read Story
|
Fifth Third Bancorp and MB Financial, Inc. jointly announced the signing of a definitive merger agreement under which MB Financial will merge with Fifth Third in a transaction valued at approximately $4.7 billion. Approximately 90 percent of the...
Read Story
|
The latest global bank rankings report from S&P Global Market Intelligence found that Chinese banks continued to expand in 2017, accounting for a fifth (18) of the world’s largest banks, collectively reporting $23.761 trillion in assets at the end of...
Read Story
|
A new report from Accenture has found that many banks have not invested in the capabilities to verify the validity and accuracy of their data. According to the report, Banking Technology Vision 2018, banks have always held a large volume of...
Read Story
|
Triumph Bancorp, Inc. announced that it has signed definitive agreements to acquire First Bancorp of Durango, Inc. and Southern Colorado Corp. The company also announced the entry into an asset purchase agreement by Advance Business Capital d/b/a...
Read Story
|
PacWest Bancorp announced it has agreed to sell cash flow loans with an aggregate carrying value of $1.49 billion as of November 30, 2017 and expects to recognize a pre-tax gain of approximately $13 million. In connection with the sale of this...
Read Story
December 11, 2017, 07:16 AM
|
Blumberg Capital's Annual FinTech Survey finds more than two-thirds of Americans are looking for banks to provide new FinTech solutions.
Consumers remain loyal to big banks despite a majority of Americans believing that traditional financial...
Read Story
October 12, 2017, 07:20 AM
|
Bank of America announced that Berkshire Hathaway Inc. exercised its warrants to purchase 700 million shares of Bank of America common stock using the Series T preferred shares Berkshire Hathaway acquired through its investment in Bank of America in...
Read Story
September 01, 2017, 08:01 AM
|
Increased issuance of asset-backed securities (ABS) by U.S. banks and nonbank financial institutions (NBFIs) could affect some issuers' credit profiles if it leads to a sustained increase in secured wholesale funding sources, says Fitch Ratings....
Read Story
August 09, 2017, 07:17 AM
|
Pacific Western Bank (PWB) has launched a Tax-Exempt Lending Group to focus on the capital needs of municipalities, schools and school districts, non-profits and other issuers of tax-exempt debt. This group will add to the bank’s already diverse...
Read Story
February 15, 2017, 07:31 AM
|
Citizens Bank announced that Citizens Commercial Banking is partnering with Opportunity Network to offer Citizens’ clients access to an innovative business-to-business networking platform designed to promote growth by connecting business owners to a...
Read Story
February 08, 2017, 07:01 AM
|
Citizens Bank announced that it will offer digital lending capabilities to small business customers through a collaboration with Fundation Group LLC, a leading digitally-enabled lender and credit solutions provider to regional and community banks....
Read Story
December 21, 2016, 07:33 AM
|
From the fourth quarter Phoenix Management "Lending Climate in America" Survey, results shows a positive outlook on the U.S. economy in both the near and long term. Lenders confidence on how they expect the U.S. economy to perform beyond the next 6...
Read Story
December 19, 2016, 08:00 AM
|
Opus Bank announced that Frederic Stupart has joined Opus’ Merchant Banking division and Opus Financial Partners, the Bank’s broker-dealer subsidiary, as Managing Director, Financial Sponsors Group. Stupart, an investment banking and private equity...
Read Story
December 06, 2016, 07:22 AM
|
Wells Fargo announced that it has tapped John Ritacco as an executive advisor for Middle Market Banking in greater New York.Ritacco, retired president and chief executive officer of the former CMS Bancorp, Inc., which was recently acquired by PCSB...
Read Story
December 05, 2016, 07:31 AM
|
The October 2016 Senior Loan Officer Opinion Survey on Bank Lending Practices (SLOOS) addressed changes in the standards and terms on, and demand for, bank loans to businesses and households over the past three months. This summary discusses the...
Read Story
November 14, 2016, 07:46 AM
|
TD Bank Group announced that Mike Pedersen, President and Chief Executive Officer of TD Bank, has informed the Bank of his intention to retire in the summer of 2017. TD has named Greg Braca, current Head of Corporate and Specialty Banking, as Chief...
Read Story
October 28, 2016, 07:53 AM
|
First Tennessee Bank is expanding its focus on businesses with specialized banking needs by hiring bankers with extensive experience in four areas: franchise finance, healthcare finance, music industry banking and structured equipment finance. By...
Read Story
October 19, 2016, 07:56 AM
|
Wells Fargo & Company announced that Chairman and Chief Executive Officer John Stumpf has informed the Company’s Board of Directors that he is retiring from the Company and the Board, effective immediately. The Board has elected Tim Sloan, the...
Read Story
October 13, 2016, 07:37 AM
|
GA Europe, a leading retail restructuring specialist and a division of Great American Group (GA), has assumed control of significant assets of the Dutch plus size retailer, MS Mode Nederland B.V., which filed for insolvency on August 11th. GA Europe...
Read Story
October 11, 2016, 07:22 AM
|
SS&C Technologies Holdings, Inc., a global provider of financial services software and software-enabled services, released a study that reveals a disconnect among the banking sector’s readiness for Current Expected Credit Loss (CECL). According to...
Read Story
October 06, 2016, 07:12 AM
|
First Financial Bancorp, parent company of First Financial Bank, N.A. is positioning itself for continued growth with the announcement of senior leadership changes in alignment with the company's strategic initiatives.To accelerate execution, First...
Read Story
September 08, 2016, 06:53 AM
|
MB Financial, Inc., the parent company of MB Financial Bank, N.A., announced it has completed its merger with American Chartered Bancorp, Inc. (“American Chartered”), and its wholly owned bank subsidiary, American Chartered Bank has been merged into...
Read Story
August 25, 2016, 07:09 AM
|
The FASB's new standard on accounting for credit losses on financial instruments will affect US banks' reserving practices, says Fitch Ratings. However, it will be manageable as banks have adequate time to prepare for implementation.The new standard...
Read Story
|
CIBC announced that it has entered into a definitive agreement to acquire PrivateBancorp, Inc. and its subsidiary, The PrivateBank, a high-quality Chicago-based middle market commercial bank with U.S.$17.7 billion in assets, complemented by private...
Read Story
|
Twelve percent of banking CEOs surveyed say they do not have insight into whether their institution’s security has been compromised by a cyber attack in the past two years, according to KPMG, the audit, tax and advisory firm. KPMG’s 2016 Banking...
Read Story
|
Opus Bank announced that Michael L. Allison was elected to Opus’ Board of Directors at the Bank’s 2016 Annual Meeting of Shareholders held on Thursday, April 28, 2016. Allison joined Opus in August of 2011 and serves as Co-President and President of...
Read Story
|
The online alternative finance market, including crowdfunding and peer-to-peer lending, is exploding in the U.S., generating more than $36 billion in funding in 2015, up from $11 billion in 2014, according to a new report published by KPMG, the...
Read Story
|
First Niagara Financial Group and KeyCorp announced that each company’s shareholders voted in favor of the merger between the two companies. Shareholders approved the merger during special meetings held today in Buffalo, NY by First Niagara and...
Read Story
|
Wells Fargo announced that Thomas (Tom) DuCharme has been named the new head of its Global Banking division. In his role, DuCharme will manage the sales and product development for Wells Fargo’s Global Banking operations. He is based in New York and...
Read Story
|
First Community Financial Partners, Inc., the parent company of First Community Financial Bank announced the hiring of an experienced commercial banking team. The five-person team of seasoned banking professionals will focus on serving the needs of...
Read Story
|
Fortune magazine named U.S. Bancorp the most admired superregional bank today, the sixth consecutive year that it has topped the list.“Integrity and ethics are fundamental to how we do business," said Richard Davis, chairman and chief executive...
Read Story
February 22, 2016, 07:42 AM
|
Huntington Bancshares Incorporated and FirstMerit Corporation jointly announced the signing of a definitive merger agreement under which Ohio-based FirstMerit Corporation, the parent company of FirstMerit Bank, will merge into Huntington in a stock...
Read Story
January 26, 2016, 07:30 AM
|
KeyCorp announced today that they have entered into a definitive agreement under which KeyCorp will acquire First Niagara in a cash and stock transaction for total consideration valued at approximately $4.1 billion.First Niagara, headquartered in...
Read Story
October 30, 2015, 08:03 AM
|
Cascade Bancorp, the holding company for Bank of the Cascades, announced the hiring of a commercial banking team in the Seattle Metro Area led by veteran banker Brandon Elieff who brings over 15 years of experience in middle market C&I and business...
Read Story
October 13, 2015, 07:31 AM
|
The Biz2Credit August Small Business Lending Index dropped by 0.1 points for big and small banks, an indication that the SBA budget scare effected growth in loan demand. Another key finding of the monthly analysis of 1,000 loan applications from...
Read Story
September 10, 2015, 07:56 AM
|
Chinese banks, especially mid-tier lenders, are likely to continue facing profitability and capitalisation pressures in the near term, says Fitch Ratings. Fitch expects that the macroeconomic slowdown will continue to result in weakening asset...
Read Story
September 08, 2015, 07:31 AM
|
GE announced an agreement to sell GE Capital Bank’s U.S. online deposit platform along with all deposits of GE Capital Bank, including online savings accounts, online CDs and brokered CDs, to Goldman Sachs Bank USA (“GS Bank”). Under this agreement...
Read Story
August 14, 2015, 07:52 AM
|
The Federal Reserve Board on Monday approved a final rule requiring the largest, most systemically important U.S. bank holding companies to further strengthen their capital positions. Under the rule, a firm that is identified as a global systemically...
Read Story
|
Small business loan approval rates at big banks and institutional lenders continue to improve, attaining new post-recession highs in March 2015, according to the Biz2Credit Small Business Lending Index, the monthly analysis of 1,000 loan applications...
Read Story
|
The Independent Community Bankers of America® (ICBA) told Congress that excessive financial regulations have crossed a line by harming the customers they are supposed to protect. By cutting off access to credit to creditworthy borrowers, regulatory...
Read Story
|
Fitch Ratings noted the Mar. 5 release of the Dodd-Frank Act Stress Test (DFAST) results showed all 31 U.S. bank holding companies passing minimum capital ratio requirements, demonstrating very modest improvements in projected loan losses and mostly...
Read Story
|
Triumph Bancorp, Inc. announced that it, through its wholly owned subsidiary Triumph Capital Advisors, LLC, has acquired all the equity of Doral Money, Inc. and certain related assets in connection with the Federal Deposit Insurance Corporation's...
Read Story
|
U.S. banks with higher exposures to the energy sector should withstand the recent declines in energy prices over the near-term, says Fitch Ratings. The ultimate impact will be driven by the duration and severity of price declines, as well as the...
Read Story
January 19, 2015, 07:46 AM
|
Signature Bank, a New York-based full-service commercial bank, announced today that it was named the best bank in America by Forbes in the publication’s annual list of America’s Best and Worst Banks 2015. Signature Bank has consistently appeared on...
Read Story
January 06, 2015, 07:15 AM
|
The credit quality of large loan commitments owned by U.S. banking organizations, foreign banking organizations (FBOs), and nonbanks is generally unchanged in 2014 from the prior year, federal banking agencies said Friday. In a supplemental report...
Read Story
November 11, 2014, 07:25 AM
|
Faced with losing market share to non-traditional competitors, senior bank executives say they are squarely focused on improving the customer experience and transforming their businesses at the strategic, operational and structural level, according...
Read Story
|
Citigroup announced that it has reached an agreement to settle the ongoing investigation of the Residential Mortgage-Backed Securities (RMBS) Working Group, part of the Financial Fraud Enforcement Task Force. The agreement resolves actual and...
Read Story
|
Big banks are now approving one-in-five small business loan applications, a post-recession high, according to the Biz2Credit Small Business Lending Index, the monthly analysis of 1,000 loan applications on Biz2Credit.com for June 2014. Meanwhile...
Read Story
|
The Federal Deposit Insurance Corporation (FDIC) released a research study on long-term consolidation in banking and the implications of this trend for community banks. Drawing from data over the last thirty years, the paper finds that community...
Read Story
|
A shift by U.S. banks to increase the proportion of securities classified as held-to-maturity (HTM) likely signals an attempt to reduce capital volatility, especially during periods of rising interest rates, according to Fitch Ratings. Banks will...
Read Story
|
Center Bancorp, Inc. and ConnectOne Bancorp, Inc. jointly announced that they have entered into a definitive agreement to merge, in a transaction valued at $243 million, based on the closing price of Center common stock on January 17, 2014.Based on...
Read Story
January 21, 2014, 07:44 AM
|
Small business loan approval rates at big banks ($10 billion+ in assets) increased to an all-time index high of 17.6% in December 2013 from 17.4% in November, according to the Biz2Credit Small Business Lending Index, a monthly analysis of 1,000 loan...
Read Story
January 09, 2014, 07:44 AM
|
Fannie Mae has reached a $591 million agreement with Wells Fargo to resolve repurchase requests on certain loans originated prior to 2009. After adjustments for prior repurchases, Wells Fargo will pay Fannie Mae $541 million in the fourth quarter of...
Read Story
December 31, 2013, 07:32 AM
|
The Independent Community Bankers of America (ICBA) said it remains deeply concerned with Volcker Rule provisions requiring banks to permanently write down their holdings of collateralized debt obligations (CDOs) backed by trust-preferred securities...
Read Story
December 30, 2013, 07:24 AM
|
The October 2013 Senior Loan Officer Opinion Survey on Bank Lending Practices addressed changes in the standards and terms on, and demand for, bank loans to businesses and households over the past three months. Domestic banks, on balance, reported...
Read Story
November 18, 2013, 08:00 AM
|
The proposed U.S. rule covering minimum liquidity requirements for large banks would enforce a tougher standard than the Basel III international framework outlined in January. Fitch Ratings sees the proposed U.S. rule as generally positive for bank...
Read Story
October 28, 2013, 07:56 AM
|
From the first quarter Phoenix Management “Lending Climate in America” Survey, results show that lenders have shifted lending expectations from negative to positive. When asked about domestic lending, 48% of lenders feel that it will increase in the...
Read Story
October 24, 2013, 08:03 AM
|
An inter-agency review of complex loans commonly held by multiple U.S. and foreign financial institutions indicates that improvements in asset quality have stalled year-over-year and underwriting standards have diminished post-crisis, highlighting...
Read Story
October 15, 2013, 07:21 AM
|
Moody's Investors Service has placed the senior and subordinated debt ratings of the holding companies for the six largest US banks on review as it considers reducing its government (or systemic) support assumptions to reflect the impact of US bank...
Read Story
August 23, 2013, 08:01 AM
|
Plaza Bank, based in Irvine, CA, announced recent additions to its team which include Eric Fenmore as vice president in its asset-based lending group. Other appointments include Sally K. Myers, who has nearly two decades of risk management in...
Read Story
|
Reuters reported that U.S. banks have given a proposal to federal regulators on how to pay for restructuring the country's too-big-to-fail institutions in the event of a future crisis, the Wall Street Journal reported, citing people familiar with the...
Read Story
|
Competitive pricing and easier terms offered by U.S. banks on commercial and industrial (C&I) loans likely signal weakening asset quality for many commercial lenders, according to Fitch. Fitch expects some deterioration in C&I credit quality...
Read Story
|
Small business loan approvals improved to an all-time index high of 16.8% at big banks, according to the Biz2Credit Small Business Lending Index, a monthly analysis of 1,000 loan applications on Biz2Credit.com. Lending approvals jumped in April after...
Read Story
|
According to Fitch Ratings, approval of a Financial Accounting Standards Board (FASB) proposal on the treatment of credit losses for loans and other financial assets could eventually force U.S. banks to book expected losses early, putting pressure on...
Read Story
|
According to Bloomberg, the Federal Reserve said 17 of the 18 largest U.S. banks could withstand a deep recession and maintain capital above a regulatory minimum.
According to the report, only Ally Financial Inc., the auto lender majority-owned by U...
Read Story
|
Tentative signs of a pickup in large leveraged buyout and M&A transactions, financed in large part by leveraged loans, may boost fee revenues for major U.S. banks in the first quarter, but Fitch sees the potential for any sustained rise in deal...
Read Story
|
Bloomberg reported the biggest U.S. banks including JPMorgan Chase & Co. and Citigroup Inc. are lending the smallest portion of their deposits in five years.
The reports cites data compiled by Credit Suisse Group AG which shows the average...
Read Story
February 21, 2013, 08:04 AM
|
U.S. banks holding large levels of nonperforming assets (NPAs) on their balance sheets are likely to pursue more bulk sales of distressed loans this year and next, according to Fitch Ratings. Four years after non-accruals began to spike during the...
Read Story
February 13, 2013, 07:19 AM
|
Fifth Third Bank announced that it has extended more than $13 billion in new and renewed credit to business customers from October through December 2012. During 2012, Fifth Third Bank lent nearly $34 billion to businesses throughout its footprint....
Read Story
January 21, 2013, 08:15 AM
|
According to Fitch Ratings, the agreement by regulators to change the definitions and stress assumptions in the Liquidity Coverage Ratio (LCR), delay its full implementation and allow banks to use their liquidity buffer in times of stress sets a more...
Read Story
January 10, 2013, 07:10 AM
|
Bloomberg reported global central bank chiefs gave lenders four more years to meet international liquidity requirements and watered down the measures in a bid to stave off another credit crunch.
According to the report, banks won the delay to fully...
Read Story
January 07, 2013, 07:18 AM
|
According to a Bloomberg report, banks’ loan-loss reserves may jump 50% under a proposed U.S. accounting-rule change that redefines how quickly firms must recognize bad debts, standard-setters said.
The report outlines how the proposed rule pushes...
Read Story
December 21, 2012, 07:14 AM
|
The Independent Community Bankers of America (ICBA) thanked the Federal Deposit Insurance Corp. for releasing the results of its comprehensive study on the community banking industry. The study reemphasizes the importance of community banks to the...
Read Story
December 19, 2012, 07:46 AM
|
The Federal Reserve Board has proposed rules to strengthen the oversight of U.S. operations of foreign banks.
The proposal would require foreign banking organizations with a significant U.S. presence to create an intermediate holding company over...
Read Story
December 17, 2012, 07:43 AM
|
The Federal Reserve's 2013 stress test scenarios for U.S. banks, which include a slowdown in Asia's developing economies on top of severe U.S. and euro zone recessions, are still as tough as last year, according to Fitch Ratings. However, we believe...
Read Story
November 19, 2012, 07:08 AM
|
According to a news release from Fitch Ratings, the firm believes that loan loss reserve releases by U.S. banks will continue, albeit at a declining pace as banks begin to approach normalized provisioning and net chargeoffs After building up reserves...
Read Story
November 15, 2012, 07:16 AM
|
After being rigged by some of the world’s biggest financial institutions, the London interbank offered rate, the benchmark for more than $300 trillion of securities and loans, is now increasingly being set by a smaller group of banks.Bank of America...
Read Story
October 08, 2012, 08:00 AM
|