NAPLES, Fla.--BancFlorida said it has sold $211 million of U.S. Tresury and mortgage-backed securities, which will produce a pretax gain of about $7.6 million in the quarter ending Dec. 31.
The proceeds were reinvested in a similar amount of securities backed by balloon mortgages, said the thrift's parent, BancFlorida Financial Corp.
The company moade the move as part of a plan to raise capital levels, control interest-rate risk, and improve liquidity.
Truist Financial's top executive leadership team announces departures; First Horizon's chief credit officer is retiring; Ferry teams with Highnote to roll out a new Visa-branded payroll card; and more in the weekly banking news roundup.
The Dallas-based regional bank tapped a client for its copilot capabilities, where employees can message a bot instead of a human to get tech assistance.
Leaders of ORNL Federal Credit Union are piloting Zest AI's new artificial intelligence-powered assistant to ensure equitable underwriting practices and measure performance against similar institutions.
Powered by younger, affluent cardholders, American Express saw a 6% increase in billed business during the first quarter, while weak growth still plagues its small-business segment.
For the better part of the past decade, the Federal Reserve Board in Washington has played a more active role in presidential searches by regional reserve banks. The shift seems to have made the system more diverse, but some argue it's at the expense of regional bank independence.
Beth Johnson, a self-described math geek, is driving the bank's ESG strategy and training its employees to keep pace with industry trends.
