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Business owners are seeing their cash flow strained by the highest inflation in 40 years and mounting costs to borrow money.

When Goldman Sachs executives set out to woo investors in early 2020, they offered a promising outlook for their novelty Main Street business. The unit would go from a money-suck to break-even in 2022. It isn’t quite working out that way. 

The two megabanks said that their capital requirements will rise in the wake of Federal Reserve stress tests, putting downward pressure on their distributions to shareholders. Meanwhile, Bank of America, Wells Fargo, Goldman Sachs and others announced plans to raise their dividends.

Missouri-based UMB Financial says it would acquire 157,000 accounts across more than 3,000 employer groups from Old National Bancorp in Indiana.

Hafize Gaye Erkan, whose surprise departure from First Republic Bank disrupted the lender’s succession plans earlier this year, will become chief executive officer of Greystone as the closely held commercial-property lender expands into wealth management and private banking.

Tom DeWitt will step down as president and chief executive in August, concluding more than 31 years with SFFCU.

Vast Bank, Silvergate Capital and Northern Trust are among the banks that continue to build out digital-asset services, undeterred by extreme volatility in digital coin prices.

It appeared Orion Credit Union had a green light to purchase Financial Federal Bank. But the Tennessee Department of Financial Institutions has once again asked a judge to stop the deal, claiming depositors would be "irreparably harmed" if it goes through.

Data as of Mar. 31, 2022. Dollars in thousands.

Data as of Mar. 31, 2022. Dollars in thousands.