FirstSun Capital Bancorp plans to buy First Foundation in an effort to accelerate its Southern California growth. The $785 million transaction follows FirstSun's failed takeover of Seattle-based HomeStreet.
Under the direction of Richard Holbrook, Eastern Bank has prepared itself for the next 200 years by embracing a culture innovation, adding scale through acquisitions and advocating for the less fortunate in its community. It's an unusual formula, but it has worked and that's why he is one of American Banker's three Community Bankers of the Year for 2015.
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The combined company could streamline card payments in a manner similar to American Express' "three party network" — while also doing more with artificial intelligence and other technologies.
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The blockbuster merger proposal will be reviewed at a time when the Biden administration is expressing skepticism about consolidation. Its analysis will have to account for markets dominated by both big banks and the likes of Visa and Mastercard.
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Data, volume and potential regulatory carve-outs are among the benefits Capital One Financial would get upon the completion of its deal to buy Discover Financial Services.
A near-collapse of the global software vulnerability database exposed critical weaknesses that could leave banks unable to track cyber threats.
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U.S. senators formally referred to the Justice Department and the Securities and Exchange Commission an investigative report that found that Goldman Sachs Group Inc. misled clients about mortgage-linked securities.
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A 20-year veteran of State Street, CEO Jay Hooley concluded that the custodial bank's business model did not have to fundamentally change — it just had to keep up with investors whose strategies did.
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The industry welcomed a proposed overhaul of how the government identifies False Claims Act violations, but some say it remains to be seen if the changes are enough to satisfy companies that had bolted.
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Bank 34 will no longer sell mortgages in the secondary market as it looks to reduce its reliance on volatile revenue streams.
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Two nonprofits threatened by the effort say the Department of Housing and Urban Development tried to avoid scrutiny last month when it announced the new policy outside the formal rulemaking process.
Maryland-based Forbright Bank, which is led by a onetime Democratic presidential candidate, relied extensively on brokered deposits as it grew after a 2021 rebranding. The bank says it has made changes in response to regulators' concerns.
Federal Reserve Gov. Christopher Waller said the Founding Fathers supported independent money management and undoing it now would be a mistake.
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Legislation that would make it simpler for banks to work with cannabis firms is always just about to arrive. But it never does.
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The Biden administration is methodically laying out a regulatory framework for crypto markets, but until that is in place it's allowing those markets to reap what they have sown.
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The industry is largely missing out on a huge segment of the market for financial services.
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The company's software automates much of the process of getting money transmitter, lending and other types of licenses.
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The company is leveraging its bank charter and strong customer acquisition, with app logins up nearly 50% from borrowers.
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The Dallas-based regional bank's return on average assets exceeded its goal of 1.1% for the first time, coming in at 1.3% for the third quarter. The bank has been in transformation mode since 2021.
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U.S. regulators have reached a rock-bottom settlement deal with a former Wells executive accused of wrongdoing in the phony-accounts scandal. The OCC had sought to recover $10 million from Claudia Russ Anderson, a onetime risk executive at the bank.
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Fraser will succeed John Dugan, who's been Citi's chair for six years. The megabank also granted Fraser a one-time award of $25 million in restricted stock units, and more than 1 million stock options.
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In addition, John Roscoe and Brandon Hamara have been appointed co-presidents at the government-sponsored enterprise, effective immediately.
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An internal error worth more than double the world's GDP highlights both the operational risks and the transparent, self-correcting nature of public blockchains.
Noninterest income at the Minneapolis-based company jumped more than 10% during the third quarter, while asset quality improved and expenses held steady. "Our focus is very much on organic growth," said CEO Gunjan Kedia.
The 23rd annual ranking of women leaders in the banking industry.
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