Ken Lehman has bought a controlling stake in another community bank.
Lehman, a former banking lawyer who makes
The company said that the change in control triggered accelerated compensation, which will result in an $885,000 expense in the second quarter. However, it will also allow Village to recognize $25,000 in monthly savings for the rest of 2019 and $20,000 to $23,000 in monthly savings next year.
Lehman agreed earlier this month to
The top five banks and thrifts have combined total assets of nearly $13 trillion.
After several quarters of slumping investment banking and trading fees, the Charlotte, North Carolina-based company reported a big uptick from that division, which helped compensate for a large decline in net interest income.
The Federal Reserve's Office of the Inspector General says the Fed has yet to fulfill 65 recommendations, and also identified 18 outstanding issues at the Consumer Financial Protection Bureau.
The bank will use biometric authentication to streamline checkout in stores starting in 2025. It has already completed internal and external pilots of the technology.
Banks reported nearly $27 billion had been tied up in scams or theft against elderly people in a recent 12-month period, according to a report from the U.S. Treasury.
The Federal Deposit Insurance Corp. says it's ready to wind down the global systemically important banks. But until that happens, many in the banking industry are skeptical that regulators have actually developed a workable strategy to end "too big to fail."
