= Subscriber content; or subscribe now to access all American Banker content.
Mark Simmons, a seasoned commercial lender, is planning to open a bank in California's Orange County that is dedicated to making loans to businesses. Core Commercial Bank, expected to be the state's first de novo since 2008, would jump into a market where commercial lenders are plentiful — and aggressive.

Top Stories

Hanmi wants to make sure that, when the dust settles, it is part of the nation's biggest Korean-American bank. The move also shows how difficult it will be for ethnic banks to gain meaningful scale while sticking to their niche groups.  more »
Bryan Sullivan, the CFO at LoanDepot, talks about its growth prospects without fuel from an initial public offering, how getting consumers to opt for home equity lines of credit is tough, and why he considers the nonbank a disruptor.  more »
The Federal Housing Administration's annual financial report demonstrates the outsize influence of reverse mortgages on the performance of its insurance fund, fueling a debate about whether those loans belong there.  read more »
While groups are concerned that Goldman Sachs' deal for GE Capital's deposits lacks community reinvestment benefits, they have also raised procedural questions about the Federal Reserve Board's handling of the application.  read more »
FinTech Forward
Legacy Systems Threaten Banks More than Startups: RBC Head McKay
Royal Bank of Canada's chief executive, Dave McKay, says the company could roll out a loyalty system kept on a blockchain next year as it experiments with distributed ledgers and looks to enhance its mobile wallet.  read more »
The goal of adopting chip cards — to provide tighter security — is a noble one. But by going partway, authorizing transactions with signatures rather than four-digit codes, banks are watering down that security, at least for lost and stolen cards.  read more »
American Chartered was also the top M&A priority for MB Financial, which was willing to pay a healthy premium to get a deal done. MB Financial, which prefers big acquisitions, will be challenged to find other opportunities in the Windy City.  read more »
On the sidelines for three years, the once-aggressive acquirer jumps back in the game with a deal for CommunityOne Bancorp in Charlotte. It's also looking to bulk up in Tennessee and Florida, though any opportunity would bring tough decisions on whether to cross the $10 billion-asset mark.  read more »
Virun Rampersad, the guy in charge of global innovation for the 230-year-old BNY Mellon, is more banker than technologist, and it shows in his strategy. His job is to create a culture that'll keep this banking behemoth relevant for centuries to come.  read more »