TD Bank has pledged $3 million to provide credit counseling to small-business owners. The hope is that those owners will use commercial loans to replace personal credit cards and home equity as their primary forms of business funding.
The Illinois company, four months removed from its last bank acquisition, just announced the biggest purchase in its history. Alpine Bancorp. will add low-cost deposits and scale to Midland States' wealth management business.
Strong gains in net interest income offset a decline in fee income, but a recent settlement with the federal government over alleged misconduct at its Wilmington Trust unit weighed on the Buffalo company's overall results.
While bank executives are divided on what they view as an optimal outcome for Fannie Mae and Freddie Mac, there is broad agreement that a future without them (or some government-supported equivalent) would mean tighter credit, higher rates and lower volume.
M&T Bank has embarked on an epic quest to put the customer at the center of everything the company does, launching a multi-year, enterprise-wide effort to modernize and centralize the management, delivery and measurement of all outreach to customers and prospects.