Bankers can bolster investor confidence by showing they are taking a disciplined approach to M&A. That involves thorough due diligence, strong rationales for deals and the ability to step away from the table.
Randolph Bancorp raised $57 million in a mutual-to-stock conversion and is using the proceeds to both fund acquisitions — it closed its first-ever deal in July — and dramatically improve its digital capabilities.
An independent chairman could uncover or minimize damage from fraud while also meting out punishment more impartially after the fact. The longtime corporate governance argument has new legs in light of the account scam at Wells Fargo, whose board is led by CEO John Stumpf.
Bankers generally expect loan demand to increase over the next year, but global shocks, domestic politics and regional economic variations may be prompting them to prepare for slightly slower growth than before.
The Bancorp is keeping its cards close to its vest when it comes to job cuts it made last week. The move is leaving analysts guessing as to exactly how many people — and what types of positions — were cut.
Bankers may have a reputation for being old-school, but their rapidly growing digital-ad budgets are in step with the rest of the business world. Banks can both gather valuable demographic data from who clicks on their ads and better measure returns on their investments.
Digital has been seen as the death knell of branches, but banks like JPMorgan, B of A and UMB are among those making the case that branches can still set banks apart from rivals provided they get leaner and offer customers a blend of tech support and financial expertise.
Comments (1)
Andy Cecere is widely viewed as the successor to Richard Davis as chief of the Minneapolis bank — Davis has repeatedly backed him in public forums — but Cecere may get several years to prepare for the daunting growth challenges facing banking's next generation of leaders.
This feature displays payments industry news and analysis from American Banker sibling brand PaymentsSource. Registration is required; for more information contact customer service.
What's Next for Energy Lenders? Lots of 'Wound-Licking'
Expect banks to pull back on energy lending in the near term, as regulators step up their scrutiny of oil loans and bankers approach the business with a "different attitude," says Mariner Kemper, chairman and chief executive at UMB Financial in Kansas City, Mo.
Eliminating paper doesn't just speed up processes and cut costs — it's also good for the environment, and helps financial institutions recruit and retain green-minded and tech-savvy young employees. Here's a look at how some of the Best Banks to Work For are saving trees while saving money and time.
Eight Commercial Mortgages Where Borrowers Cashed Out Handsomely
The high volume of commercial mortgages maturing this year has left some property owners scrambling for funds to refinance. Not so for these eight landlords, who took advantage of the strong price appreciation of their iconic office buildings, luxury hotels, super regional shopping malls, and a portfolio of rental homes, to cash out — in some cases, to the tune of hundreds of millions of dollars of equity. Bank commercial real estate lenders, who know all too well the cyclical nature of this sector, will want to take a close look at these transactions, details courtesy of our colleagues at Asset Securitization Report.
It was never going to be a good hearing for Wells Fargo CEO John Stumpf, but his performance Tuesday before the Senate Banking Committee was widely panned. Called to answer for millions of phony accounts being opened, Stumpf didn't know the answers to many of the lawmakers' questions and distanced himself from the board which he chairs. Lawmakers from both parties were highly critical. The following were some of Stumpf's worst moments:
Warning for Wealth Managers: Investors are Wary of Your Advice
Changes in consumer behavior – including a growing distrust of financial advisers – are driving the rise of robo advisers, says Gauthier Vincent, a consultant with Deloitte.
The surprise vote by the U.K. in June to leave the European Union may encourage fintech startups in London to expand across the pond. That was the case with Duco, a financial data management startup, which recently added senior managers in New York. "Hiring talent in London was already hard on the tech side, and we think it's going to get even harder" says CEO Christian Nentwich.
Duco was selected last year to participate in Accenture's Fintech Innovation Lab in London.
This year federal and state regulators have started to pay closer attention to the rapidly evolving online-lending sector — particularly online small-business lending. What follows is a look at eight key players in the debate over how to regulate this emerging industry.
A compliance-at-all-cost mentality, which is the overarching attitude in many banks, results in overspending and overallocating valuable resources to meet both real and perceived compliance... Read More
