WASHINGTON -- Baltimore-based Arundel Federal Savings Bank took over Irvington Federal Savings Bank in Glen Burnie, Md., from the Resolution Trust Corp., the agency announced Monday.
The RTC paid Arundel Federal $2.8 million to take Irvington's $27.6 million of insured deposits and $22.9 million of assets. Irvington had assets of $30.8 million and liabilities of $31 million when it failed in February 1992. Arundel Federal has $207 million of assets.
Kohler Credit Union, Think Bank and Communication Federal Credit Union gave their onboarding and direct deposit tech an upgrade through fintech partnerships.
To address a budget deficit, the state of Washington has begun taxing credit unions that buy banks. Critics say there's just one problem: The tax will deter any such acquisitions from happening.
Some distressed companies that tapped the Federal Reserve's Main Street Lending Program say they've been crushed by the agency's hardline stance on modifications.
Threat group ShinyHunters claimed responsibility for the attack, which reportedly targeted third-party platforms rather than Betterment's own systems.
Artificial intelligence developments are stoking investor fears about software companies. Banks' limited exposure to the sector and general stability is proving attractive to investors.
Prosperity Bancshares finalizes the second of three acquisitions it's announced since July; Sumitomo Mitsui Banking Corporation appoints a new chief information security officer for its American operations; Huntington Bancshares, Third Coast Bancshares and Heritage Financial completed acquisitions; and more in this week's banking news roundup.
